Perth Mint Gold and Silver Bullion Sales Surge

The Perth Mint of Australia has announced their latest sales figures for gold and silver sold as coins and minted products. During September 2012, sales for both metals surged to their highest levels since the start of monthly reporting. The higher sales were undoubtedly driven by the release of the new designs for popular series of gold and silver bullion coins.
Sales of silver coins and minted products rose to 1,251,580.06 troy ounces, up 269% from the prior month and more than doubling the previous highest reported monthly amount from March.
The sales for gold coins and minted products rose to 81,095.13 troy ounces, representing an increase of 118% from the prior month. This eclipsed the previous highest monthly reported amount from June.
Year ago comparisons are not available, since the Perth Mint only began reporting monthly sales levels in March of 2012.
2012 Perth Mint Bullion Sales in Troy Ounces

	Gold	Silver
March	35,957.28	590,636.15
April	17,575.64	207,109.91
May	30,387.88	437,759.34
June	44,619.05	523,663.46
July	34,026.23	452,692.79
August	37,196.86	338,945.22
Sept	81,095.13	1,251,580.06

The burst of sales can be attributed to the release of new 2013-dated gold and silver bullion coins on September 3, 2012. On that date, the 2013 Year of the Snake coins went on sale with gold bullion coins available in sizes ranging from 1/20 ounce to 1 kilo and silver bullion coins available in sizes ranging from 1/2 ounce to 1 kilo. For both metals, a 10 kilo sized coin will be available at a later date. Sales also began for the 2013 Australian Kookaburra silver bullion coins available in 1 kilo, 10 ounce, and 1 ounce sizes.

http://news.coinupdate.com/perth-mint-gold-and-silver-bullion-sales-surge-1646/

http://precious-metal-investment.blogspot.co.uk/

 

Three Scenarios For Gold

Three Scenarios For Gold

Even though we have presented comparable scenarios looking at the coverage of the US money base in gold terms previously, aka "gold coverage" ratio, including once from Dylan Grice, and once from David Rosenberg, now that we have drifted into a new, previously unchartered and very much open-ended liquidity tsunami, it is time to revisit the topic. Luckily, Guggenheim's Scott Minerd has done just that. Not only that, but he presents three distinct gold pricing scenario, attempting to forecast a low, medium and high price range for the yellow metal.
To wit: "The U.S. gold coverage ratio, which measures the amount of gold on deposit at the Federal Reserve against the total money supply, is currently at an all-time low of 17%. This ratio tends to move dramatically and falls during periods of disinflation or relative price stability. The historical average for the gold coverage ratio is roughly 40%, meaning that the current price of gold would have to more than double to reach the average. The gold coverage ratio has risen above 100% twice during the twentieth century. Were this to happen today, the value of an ounce of gold would exceed $12,000.”

Keep in mind, the $12,000 price is based on the current monetary base. When this number rises by $2 trillion (at least) through the end of 2014, the upside case of gold will be orders of magnitude higher.
And now you know why bickering over a few hundred dollars here and there is largely irrelevant, and in fact one should be delighted if gold can be purchased at as low a price as possible. Why? Because one thing is absolutely certain: in order to keep the ponzi going, with every other sector at peak leverage, including household, corporate and financial, and real assets already massively encumbered by debt, the only real indirect buyer of gold will be the world's central banks, by means of diluting the existing paper supply. And whether or not the New York Fed, or some gold cartel, are actively pushing the price of gold lower, this is very much irrelevant, and in fact continues to be a welcome diversion, one which allows for the artificially low entry prices into gold. Because one day, gold will revert to its fair value, and so often happen, that is when its will go back to 100% "coverage" as faith in fiat evaporates. At that point whether one bought gold at $1000, $1500 or even $2200 will be absolutely irrelevant.

 http://www.zerohedge.com/news/2012-10-17/three-scenarios-gold

GOLD BULLION COINS SPECIFICATIONS - TEST YOUR COINS

http://www.onlygold.com/TutorialPages/Coin_specsFulScreenVersion.htm

Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
Australia	Lunar Series 1 oz	A$ 100	1.0000	1	31.1030	32. 10.	2.65.	999.9
Australia	Lunar Series 1/2 oz	A$ 50	0.5000	0.5	15.5515	25.10	2.20	999.9
Australia	Lunar Series 1/4 oz	A$ 25	0.2500	0.25	7.7758	20.10.	1.80	999.9
Australia	Lunar Series 1/10 oz	A$ 15	0.1000	0.1	3.1103	16. 10.	1.30.	999.9
Australia	Lunar Series 1/20 oz	A$ 5	0.0500	0.05	1.5552	14.10.	1.40	999.9
Australia	1 oz. Kangaroo	A$ 100	1.0000	1	31.1030	32. 10	2.65	999.9
Australia	1/2 oz. Kangaroo	A$ 50	05000	05	15.5515	25.10	2.20	999.9
Australia	1/4 oz. Kangaroo	A$ 25	02500	025	7.7758	2010	1.80	999.9
Australia	1/10 oz. Kangaroo	A$ 15	01000	01	3.1103	16. 10	1.30	999.9
Australia	1/20 oz. Kangaroo	A$ 5	00500	005	1.5552	14.10	1.40	999.9
Austria	1 oz Philharmonic	OS 2000	1.0000	1	31.1030	37.0	2.0	999.9
Austria	1/2 oz Philharmonic	OS 1000	05000	05	15.5515	28.0	1.6	999.9
Austria	1/4 oz Philharmonic	OS 500	02500	025	7.7758	22.0	1.2	999.9
Austria	1/10 oz Philharmonic	OS 200	01000	01	3.1103	16.0	1.2	999.9
Belgium	20 Francs		01867	02074	6.4508	21.00	1.30	900
Canada	1 oz. Maple Leaf	C$ 50	1 .0000	1	31.1030	3000	2.80	999.9
Canada	1/2 oz. Maple Leaf	C$ 20	05000	05	15.5515	25.00	2.23	999.9
Canada	1/4 oz. Maple Leaf	C$ 10	02500	025	7.7758	2000	1.70	999.9
Canada	1/10 oz. Maple Leaf	C$ 5	01000	01	3.1103	16.00	1.22	999.9
Canada	1/15 oz Maple Leaf	C$ 2	00666	00666	2.099	15.0	098	999.9
Canada	1/20 oz Maple Leaf	C$ 1	00500	00500	1.581	14.1	092	999.9
Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
Chile	100 Pesos		05885	06539	203383	31.2.	2.50	900
China	1 oz. Panda	100 Yuan	1.0000	1	31.1030	32.05	2.70	999
China	1/2 oz. Panda	50 Yuan	05000	05	15.5515	27.00	1.85	999
China	1/4 oz. Panda	25 Yuan	02500	025	7.7758	21.95.	1.53	999
China	1 / 10 oz. Panda	10 Yuan	01000	01	3.1103	17.95.	1.05	999
China	1/20 oz. Panda	5 Yuan	00500	005	1.5552	13.92.	083	999
Colombia	5 Pesos		02354	02568	7.9873	22.00	1.50	916.7
France	20 Francs (3 Types)		01867	02074	6.4508	21.00	1.40	900
Germany	20 Mark		02305	02561	7.9655	22.50	1.40	900
Great Britain	I oz. Britannia	Lb 100	1 .0000	1.0909.	33.9303	32.60	2.79.	916
Great Britain	1/2 oz. Britannia	Lb 50	05000	05454	16.9636	27.00	2.08	916
Great Britain	1/4 oz. Britannia	Lb 25	02500	02727.	8.4818	22.00	1.63	916
Great Britain	I Sovereign		02354	02568	7.9873	22.05.	1.52	916
Great Britain	1/2 Sovereign		01177	01284	3.9936	19.22	099	916
Great Britain	I /10 oz Britannia	Lb 10	01000	01091	3.3933	16.50	1. 17	916
Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
Hungary	100 Korona		09802	1.0891	33.8743	37.08.	2.29	900
Hungary	20 Korona		01960	02178	6.7742	21.00	1.00	900
Isle of Man	1 oz. Angel	1 Angel	1.0000	1.0000	33.9303	32.70	2.83	999.9
Isle of Man	I oz. Cat	1 Crown	1.0000	1	31.1030	32.70	2.60	999.9
Isle of Man	1/2 oz. Angel	1/2Angel	05000	05000	16.9636	27.00	2.16	999.9
Isle of Man	1/2 oz. Cat	1/2 Crown	05000	05	15.5515	3000	1.90	916
Isle of Man	1/4 oz. Angel	1/4 Angel	02500	02500	8.4818	22.00	1.79	999.9
Isle of Man	1/5 oz. Cat	1/5 Crown	02000	02	6.2206	22.00	1.40	916
Isle of Man	1/ 10 oz. Angel	1/10 Angel	01000	01000	3.3933	16.50	1.20	916
Isle of Man	1/ 10 oz. Cat	1/10 Crown	01000	01	3.1103	17.95	1.00	999.9
Isle of Man	1/25 oz. Cat	1/25 Crown	00400	004	1.2441	13.92	070	91
Italy	20 Lire		02074	01867	5.8069	21.00	1.20	900
Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
Mexico	50 Pesos		1.2057	1.3396	37.5009	37.08.	2.69	900
Mexico	I Onza		1.0000	1.1111	34.5585	34.54	2.55	90
Mexico	1/2 Onza		05000	05555	17.2777	29.00	2.03	900
Mexico	20 Pesos		04823	05358	16.6650	27.50	2.03	900
Mexico	1/4 Onza		02500	02777	8.6373	23.00	1.68	900
Mexico	10 Pesos		02411	02679	8.3325	22.50	1.40	900
Mexico	5 Pesos		01205	01339	4.1647	19.00	1.14	900
Mexico	2 1/2 Pesos		00602	00669	2.0808	15.50	086	900
Mexico	2 Pesos		00482.	00535	1.6640	13.00	1.02	900
Netherlands	10 Guilders		01947	02163	6.7276	22.50	1.31	900
Peru	I Libra		02354	02568	7.9873	22.00	1.52	916.7
Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
South Africa	I oz, Krugerrand	None	1.0000	1.0909	33.9303	32.60	2.75	916
South Africa	1/2 oz. Krugerrand	None	05000	05454	16.9636	27.00	2.24	916
South Africa	1/4 oz. Krugerrand	None	02500	02727	8.4818	22.02.	1.52	916
South Africa	1 Rand	None	01177	01284	3.9936	19.43	1.09	916.7
South Africa	1 / 10 oz, Krugerrand	None	01000	01091	3.3933	16.46.	1.19	916
South Africa	2 Rand	None	02354	0,2568	7.9873	22.00	1.83	916.7
Switzerland	20 Francs		01867	02074	6.4508	21.00	1.20	900
U.S.A.	1 oz. American Eagle	US$ 50	1.0000	1.0909.	33.930	32.70	2.87	916.7
U.S.A.	1/2 oz. American Eagle	US$ 25	05000	05454	16.9636	27.69.	2.15	916.7
U.S.A.	1/4 oz. American Eagle	US$ 10	02500	02727	8.4818	22.00	1.78	916.7
U.S.A.	1/ 10 oz. American Eagle	US$ 5	01000	01091	3.3933	16.50	1.26	916.7
Country	Coin	Face value	Gold oz	Wt oz	Wt grams	Dia  mm	Thickness mm	Gold fineness
U.S.A.	1 oz. A.Arts Medallion		1.0000	1.1111	34.5585	34.30	2.41	900
U.S.A.	$20.00 Liberty Type		09675	1.075	33.4357	32.70	2.83	900
U.S.A.	$20.00 Saint-Gaudens		09675	1.075	33.4357	32.25.	2.79	900
U.S.A.	1/2 oz. A.Arts Medallion		05000	05555	17.2777	27.00	2.16	900
U.S.A.	$10.00 Indian Head Type		04838	05375	16.7179	27.00	2.03	900
U.S.A.	$10.00 Liberty Type		04838	05375	16.7179	27.00	2.03	900
U.S.A.	$5.00 Liberty Type		02419	02688	8.3605	21.60	1.59	900
U.S.A.	$5.00 Indian Head Type		02419	02688	8.3605	21.60	1.40	900
U.S.A.	$2.50 Liberty Type		01209	01343	4.1771	18.00	1.27	900
U.S.A.	$2.50 Indian Head Type		01209	01343	4.1771	18.00	1.14	900
U.S.A.	$1.00 Indian Head Type		00484	00538	1.6733	13.00	1.02	900
U.S.A.	$1.00 Liberty Type		00484	00538	1.6733	15.00	076	90
USSR	10 Roubles		02490	02767	8.6062	22.60	1.70	900

Gold analysts' forecasts and commentary for 2012. All prices are in US dollars.

Gold analysts' forecasts and commentary for 2012. All prices are in US dollars.

↑	high	low	average	range
Anne-Laure Tremblay - BNP Paribas	$2,100	$1,500	$1,775	$600
Average forecasts -	$2,055	$1,443	$1,766	$612
Bayram Dincer - LGT Capital Management	$1,950	$1,450	$1,770	$500
Bhargava Vaidya - B.N. Vaidya & Associates	$1,900	$1,440	$1,600	$460
Carl Firman - VM Group	$2,012	$1,410	$1,689	$602
Daniel Brebner - Deutsche Bank	$2,100	$1,545	$1,825	$555
Daniel Smith - Standard Chartered Bank	$2,075	$1,525	$1,875	$550
David Jollie - Mitsui & Co Precious Metals Inc	$2,075	$1,480	$1,770	$595
Eddie Nagao - Sumitomo Corporation	$1,800	$1,300	$1,525	$500
Edel Tully - UBS	$2,500	$1,400	$2,050	$1,100
Frederic Panizzutti - MKS Finance S.A.	$2,120	$1,550	$1,808	$570
James Steel - HSBC	$2,050	$1,450	$1,850	$600
Jeffrey Rhodes - INTL Commodities	$1,975	$1,465	$1,727	$510
Martin Murenbeeld - DundeeWealth	$2,125	$1,450	$1,835	$675
Matthew Turner - Mitsubishi Corporation International (Europe) Plc	$2,100	$1,425	$1,782	$675
Michael Jansen - JPMorgan Securities	$2,150	$1,450	$1,869	$700
Michael Widmer - BAML	$2,000	$1,500	$1,850	$500
Peter Fertig - QCR Quantitative Commodity Research Ltd	$2,150	$1,390	$1,730	$760
Philip Klapwijk - Thomson Reuters GFMS	$2,005	$1,530	$1,760	$475
René Hochreiter - Allan Hochreiter (Pty) Ltd	$2,000	$1,450	$1,650	$550
Rohit Savant - CPM Group	$1,800	$1,200	$1,612	$600
Ross Norman - Sharps Pixley Ltd	$2,100	$1,590	$1,765	$510
Suki Cooper - Barclays Capital	$2,200	$1,400	$1,875	$800
Thorsten Proettel - LBBW	$1,950	$1,220	$1,640	$730
Tom Kendall - Credit Suisse Securities (Europe) Ltd	$1,960	$1,475	$1,755	$485
William Adams - Fastmarkets	$2,230	$1,500	$1,785	$730
Wolfgang Wrzesniok-Rossbach - Degussa Goldhandel GmbH	$2,010	$1,425	$1,750	$585
YTD actual at 21-Sep-12	$1788	$1538	$1648	$250

 

 

http://www.lbma.org.uk/pages/index.cfm?page_id=142

Deutsche Bank: GOLD IS MONEY

Is gold money?

It's become a tireless debate: goldbugs seem to cling to the shiny yellow metal with a religious fervor not usually displayed by anyone toward other asset classes, and it's been known to frustrate some who don't share their views.
Gold often gets lumped in to investment forecasts with other "commodities" – real, consumable things like oil or food.
But Deutsche Bank analysts Daniel Brebner and Xiao Fu say gold is seriously misunderstood, and in a new report – wherein they update their gold target to $2000/oz sometime in the first half of 2013 – they explain that "gold is not really a commodity at all."
The undisputable evidence for the case that gold is money, according to the Deutsche Bank analysts:

While it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognised (if not publically used as such). We see gold as an officially recognised form of money for one primary reason: it is widely held by most of the world’s larger central banks as a component of reserves.

That's their take. But there's more – the analysts differentiate between "good money" (gold) and "bad money" (fiat paper currency):

We would go further however, and argue that gold could be characterised as ‘good’ money as opposed to ‘bad’ money which would be represented by many of today’s fiat currencies. In describing gold as such we refer to Gresham’s Law – when a government overvalues one type of money and undervalues another, the undervalued money (good) will leave the country or disappear from circulation into hoards, while the overvalued money (bad) will flood into circulation.

What's interesting is that all of the arguments against gold propogated by the anti-goldbugs – that it's not really a consumption good, that it serves no industrial purpose, etc. – are all the exact reasons why Brebner and Xiao call gold "good money."
The analysts elaborate on this point in the report:

In our view the ideal medium of exchange must balance the paradox of representing value while having little intrinsic value itself. There are very few media which can do this. Fiat currencies physically have no use other than that which is prescribed to them by government and accepted by the public. That fiat currencies cost little to produce is of a secondary concern and we believe, quite irrelevant to the primary purpose.

Gold is neither production good nor consumption good. Jewellery we see as a form of storage or hoarding (the people of Portugal have all but exhausted their personal gold stores – hoarded in the form of jewellery – having converted them to survive the crisis). If gold did have a meaningful commercial use we believe that it would make the metal less attractive as a medium of exchange as the value of the metal in whatever market it was used in could periodically interfere with its medium-of-exchange role...

Other characteristics are important of course in fulfilling the requirements for ‘good’ money: indestructibility, divisibility, transportability and universal acceptability.

Read more: http://www.businessinsider.com/deutsche-bank-gold-money-2012-9#ixzz27ByizgyA

http://precious-metal-investment.blogspot.co.uk/