Liberty Coin Service

It finally happened that the price of gold DID NOT set a new all-time record high at the COMEX close today when it ended at $2,644.25. That is still up 28% year to date. Silver closed at $31.51, platinum at $1,009.00, and palladium at $1,024.00.

We just totaled it up about ways that the staff of Liberty Coin Service support the numismatic community.

Combined, the current staff have authored at least 1,000 articles among Numismatic News, Greysheet, Coin Week, Mich-Tams Journal, and others.

We have contributed research to multiple reference catalogs.

Staff have been exhibit judges at coin shows, coin collecting Scout merit badge counselors, teachers at 4-H programs, and officers or committee chairs for the Michigan State Numismatic Society, American Numismatic Association, National Coin & Bullion Association, Lansing Coin Club, Mich-Tams.

We have been advocates for people who were scammed into buying fake and counterfeit products or were extremely overcharged by unscrupulous marketers.

Over the decades we have had a handful of people arrested in our store who tried to sell us stolen merchandise, including one guy who stole coins from a store in Kentucky.

Being a good coin dealer means more than just buying and selling merchandise. It means sharing your knowledge and expertise to help others better enjoy their numismatic pursuits.

Go to https://www.numismaticnews.net/coin-market/the-value-of-comparison-shopping to read this week's Numismatic News column. The headline is "The Value Of Comparison Shopping."

Experienced numismatists and precious metals traders know this, but it never hurts to get a friendly reminder.

The Value Of Comparison Shopping When you visit dealers at shows or browse photos of their merchandise online, you'll soon notice that each dealer's subjective descriptions often differ significantly from those used by others to describe similar products.

You may have suspected this, but now there is solid evidence. The think tank Populace conducted aq survey to find the differences between what people are willing to say publicly about their opinions versus what they really believe. The opening paragraph of their report states,

"The belief that there is social pressure to have the “right” opinion is pervasive in America today. In fact, a majority of Americans (58%) think that most people cannot share their honest opinions about sensitive topics."

To view the entire highly detailed report go to

static1.squarespace.com

In intraday trading today, the price of gold reached as high as $2,685.25 and silver peaked at $32.73. These are signs prices still have potential to rise even further than today's COMEX closes.

As of a couple minutes ago, if Liberty Coin Service were open, here are the bid and ask spot prices at which we would buy and sell physical precious metals:

Gold: bid spot price $2,669.75/ask spot price $2,672.75
Silver: $31.97/$32.05
Platinum: $1,007.00/$1,019.00
Palladium: $1,038.00/$1,073.00

The US Constitution is for sale. Or--at least a 1787 printed copy of it.

For details on an auction coming up in two days, go to

Lost for 200 years, this copy of the Constitution may sell for millions Brunk Auctions in North Carolina is selling a copy of the U.S. Constitution that’s dated 1787 and was found in a filing cabinet.

London's Financial Times reported on Tuesday a story that the Wall Street Journal and the New York Times judged not newsworthy to cover about the report by the Center For Advance Defense Studies that JPMorgan Chase and HSBC participated in laundering money for the Russian mercenary group Wagner, which is currently fighting in Ukraine.

Read more details at

What Did Madoff, Jeffrey Epstein and Sanctioned Russian Mercenary Group, Wagner, Have in Common? They All Banked at JPMorgan Chase By Pam Martens and Russ Martens: September 26, 2024 ~ On Tuesday, the Financial Times broke the story that JPMorgan Chase and HSBC had been named in a new

COMEX gold market continues its string of consecutive daily all-time record high closes. It closed today at $2,670.00, silver at $32.03, platinum at $1,011.00, and palladium at $1,051.00

Ross Norman now oversees MetalDaily.com. He is the former president of Sharps, Pixley when that company was one of the five that used to set the London gold fixes. He is an industry insider, but he is not automatically someone who parrots the "official" narrative on the gold market.

He recently posted essay at https://www.metalsdaily.com/archive/ross-norman-gold-the-derivatives-tail-wagging-the-golden-dog-/359626 points out that the rise in gold's price over recent months has not been triggered by rising physical demand. In fact, there has been a decline in gold jewelry demand in China and India. Also, jewelry buyers in the Middle East are now purchasing lighter weight or lower purity pieces than they used to acquire.

Instead, gold's price has risen because of demand in the paper market. When Chinese citizens were unable to purchase all of the physical gold they wanted, several began to buy futures contracts on the Shanghai Futures Exchange.

Norman acknowledges that the gold market is overbought right now. Normally, that would indicate that the price is ready to retreat. But, he is not predicting that. Instead, he ends this essay saying,

"That's a long way around in saying that even though I don't believe this rally … I would certainly not short it … and gold will almost certainly go higher and I would not be surprised to see $3000 this side of Christmas. "

MetalDaily.com | Live Gold Prices, Gold Charts and Gold Headlines MetalsDaily.com aims to bring you the latest gold news, live gold prices and gold charts and will soon be an online shop for buying gold bars and gold coins.

Just a few months ago, Zimbabwe unveiled another new currency. This one had the added angle of being potentially convertible into gold, which would give it a significant advantage over almost all other fiat (paper) currencies.

Well, once again the government has botched this incarnation of Zimbabwe currency. Its value to the US dollar has fallen over the past three consecutive weeks.

Read the Bloomberg article at

Zimbabwe Currency Shock Is Central Banker’s First Taste of Chaos John Mushayavanhu is dealing with the fallout as the once-hailed ZiG tumbles.

Another record high COMEX gold close!

At the COMEX close today, gold was $2,659.25. Silver ended at $31.70, platinum at $992.00, and palladium at $1,038.00.

With increased volatility in precious metals markets, Liberty Coin Service is checking with wholesalers and our national competitors to determine if we need to widen our buy/sell spot price spreads. Generally, LCS has continuously quoted one of the lowest ask spot prices on which we base our selling prices for our bullion products.

Because of this, our sell prices often are lower than competitors who claim to use a lower markup but quote higher spot prices. We want to make sure we remain competitive on a national basis.

On Monday this week, the US Dollar Index finished at 100.24. That was its lowest close since it was 99.94 on July 17, 2024.

This week, the Chinese yuan currency reached its highest level against the US dollar since May 2023.

Over the past week, the prices of a wide range of commodities and other foreign currencies are up as measured in US dollars, with only a few that have declined.

With the COMEX still trading for just over another hour, gold's price is still above yesterday's close.

However, the correct way to think about financial markets is not that gold is setting record high prices (ignoring the impact of inflation). Instead, it is the value of the US dollar that is falling.

If you don't het have your personal finances protected with a modest insurance holding of bullion-priced physical gold and silver coins and ingots, you need to come to Liberty Coin Service to do so. Sooner rather than later.

How much further do you want the US dollar to lose value before you take action?

One of the more deceptive government economic reports was issued today at https://www.bls.gov/news.release/cesan.nr0.htm.

This is an annual report of Consumer Expenditures, reported per "consumer unit."

The largest deception in this report is that it does not report on the very largest consumer expenditure--federal, state, and local income taxes. It also buries the total for Social Security and Medicare taxes in categories with other items so people won't be able to easily see how much those taxes are.

The information on how much the average "consumer unit" (which is different than household or per capita as used in other data reports) paid in income taxes in 2023 and how much it changed from 2022 appears not yet to be available. You can go to the Tax Foundation report for the year 2021 at https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

Summary of the Latest Federal Income Tax Data, 2024 Update The Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.

Gold set another all-time record high COMEX close today at $2,651.25. Silver closed at $32.11,, which was its highest close since it was $32.19 on May 29, 2024. Platinum closed at $988.00 and palladium at $1,060.00.

As of a couple minutes ago, here were the bid and ask spot prices at which Liberty Coin Service was buying and selling physical precious metals:

Gold: bid spot price $2,654.00/ask spot price $2,657.00
Silver: $32.17/$32.25
Platinum: $983.00/$995.00
Palladium: $1,052.00/$1,087.00

Gold has gone up enough over the past week that at some point private demand in China will pause. That has happened a few times over the past six months and only lasted a few days. It is likely to follow this pattern again soon. But it is also likely that demand will resume from there.

My twice weekly 3-minute radio commentaries on 1320 WILS AM this week are especially important. This will air on the station Wednesday and Friday morning starting about 8:45-8:50 AM Eastern. If you are unable to listen to the station on your radio, you can stream in online at www.1320wils.com.

I discuss the impact on the personal finances of Americans as a result of the actions taken by the Federal Open Market Committee last week--which you won't learn if you only follow the regular media.

Eventually, it will be archived on the station's website at https://1320wils.com/pages/patrick-a-heller-commentary

For your own financial protection, you don't want to miss these episodes.
--Patrick A. Heller, Liberty Coin Service Communications Officer

Patrick A. Heller Commentary - 1320 WILS | Lansing's More Compelling Talk Radio Patrick A. Heller Commentary - 1320 WILS | Lansing's More Compelling Talk Radio

At the COMEX closes today, gold set a new all-time record high at $2,628.25. Silver ended at $30.77, platinum at $962.00, and palladium at $1,045.00, all down from Friday's closes.

Tomorrow, September 24, I will deliver a presentation at the Michigan Treasure Hunters meeting titled "Oops! A Lighthearted Review Of Design Mistakes On Circulating Coins."

The meet6ing starts at 7:30 PM at the Holy Cross Lutheran Church at 30650 Six Mile Road in Livonia, Michigan. No admission charge and the public is welcome.

This will be the 3rd time I have addressed this group and expect to have another fun occasion.
--Patrick A. Heller, Liberty Coin Service Communications Officer

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Gold has traded as high at $2,634.50 and silver as high as $31.25 this morning. As of a couple minutes ago, here are the bid and ask spot prices at which Liberty Coin Service was buying and selling physical precious metals:

Gold: bid spot price $2,629.75/ask spot price $2,630.75
Silver: $30.80/$30.88
Platinum: $960.00/$972.00
Palladium: $1,038.00/$1,073.00

Remember, the COMEX opens about 8:30 AM Eastern and closes about 1:30 PM for gold and silver futures trading. Spot prices can and do change 20,000 times during the trading session--every time there is a new contract traded.

At the COMEX close today, the price of gold easily set another all-time record high at $2,620.00. Silver settled at $31.17, platinum at $982.00, and palladium at $1,078.00.

A couple minutes ago, when Liberty Coin Service closed for today, here were the bid and ask spot prices at which the company was buying and selling physical precious metals:

Gold: bid spot price $2,620.50/ask spot price $2,623.50
Silver: $31.15/$31.23
Platinum: $976.00/$988.00
Palladium: $1,061.00/$1,096.00

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Go to https://www.numismaticnews.net/coin-market/fbi-to-return-or-compensate-owners-of-illegally-seized-coins-money-other-assets to read this week's Numismatic News column. The headline is "FBI To Return Or Compensate Owners Of Illegally Seized Coins, Money, Other Assets."

If you think that when the US government illegally seizes property from someone that it would automatically return it. Think again.

FBI to Return or Compensate Owners of Illegally Seized Coins, Money, Other Assets The FBI initially claimed that it did not need to return the seized assets because of government immunity from responsibility. An appellate court disagreed.

The COMEX is still open and trading for almost another hour. As of a couple minutes ago, here were the bid and ask spot prices at which Liberty Coin Service was buying and selling physical precious metals:

Gold: bid spot price $2,622.00/ask spot price $2,625.00
Silver: $31.24/$31.32
Platinum: $978.00/$990.00
Palladium: $1, 070.00/$1,105.00

We are starting to see a surge of buying interest in gold among US buyers. In recent months, while most of the rest of the world was buying gold, Americans and Germans tended to be net liquidators of their gold holdings. We are starting to see some premiums increase at which purchasers pay for physical coins and ingots.

Gold is well into record high territory in European markets this morning and silver is also up strong. Continued fallout from the Fed's mistake of cutting the federal funds interest rate by 0.5%on Wednesday.

As of a couple of minutes ago, if Liberty Coin Service was open, here were the bid and ask spot prices at which we would be buying and selling physical precious metals:

Gold: bid spot price $2,612.00/ask spot price $2,615.00
Silver: $31.29/$31.37
Platinum: 998.00/$1,010.00
Palladium: $1,071.00/$1,106.00

At some point, the silver spot price will break out above $32.00, which will be a signal for a fast continuing increase. Are we getting close to that happening?

Another Liberty Coin Service extremely happy customer story today.

A couple came in with some coins to get checked out. Unfortunately, there were not any hidden treasures of significant value. But, the couple also mentioned that they were going to take their ring to an area jewelry store that was hosting an out-of-town buyer making offers on jewelry and other items. The Liberty employee explained that Liberty also purchased jewelry and offered to make an offer so they could compare who offered them the higher price.

About two hours later, the couple returned to Liberty Coin Service to sell the ring for $370. They said the other buyer only offered $25 for the exact same item.

It is customer experiences such as these that provides Liberty our best form of advertising--from satisfied customers making referrals.

Note: Liberty Coin Service periodically conducts secret shopper surveys to confirm we offer customers strong prices compared to our competitors. When these surveys have included out-of-town buyers who set up in hotel rooms or in other area businesses, such buyers invariably offer the lowest or close to the lowest prices--sometimes by a lot such as today's example--compared to what was offered by other businesses in the survey.

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There were about 20 attendees for my presentation to the Birmingham-Bloomfield Coin Club meeting last night. Several asked some good questions. Many people came up afterwards to thank me for the information presented. Overall this was a fun evening, which I why I enjoy giving such presentations.

The subject was "Tips For End-Of-Life Planning." About 1/4 of the program involved determining value of valuables, of which numismatic treasures was of greatest interest for the audience. Any other coin clubs or other organizations that might be interested in this topic, please contact me to preview the Power Point file.
--Patrick A. Heller, Liberty Coin Service Communications Officer

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