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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Gold in the news – The Krugerrand

October 4, 2010 07:05

Gold often makes the news because of its extreme value fluctuations, or because another fly by night dealer is trying to buy “broken gold” from people.  Recently, gold is in the news because an unnamed person is buying up a large amount of gold coins.  The buyer, believed to be Swiss, is buying many Krugerrand gold bullion coins. 

Krugerrand Gold Coins

The Krugerrand gold coin is a South African coin first minted in 1967.  It was originally produced by the South African Mint Company to promote South African gold. It was also intended to be minted as currency so it is made out of an alloy that is much more durable.  It is 91.67% pure which puts it into the 22 karat category. The remaining 8.33% of the coin's weight (2.826 g) is copper.  People very often confuse this coin to be pure because it says 1 oz fine gold on the coin.  Yes , it does contain a full ounce, however when you weigh it, you will realize it is 22k because it weighs 21.7 dwts.

By 1980, the Krugerrand accounted for 90% of the gold coin market.  Because of its success, many other countries decided to mint gold coins.  You might recognize the Canadian Gold Maple Leaf Coin, the Australian Nugget and the American Gold Eagle coins.

Krugerrands are often purchased for investment purposes, as it is mostly pure and they are becoming less desirable compared to say American Eagles.  Currently a 1 oz Krugerrand can be purchased for about $1300.  In some cases, they can be bought at a discounted price if purchased in bulk.

Historic Precious Metal Price Charts

September 15, 2010 23:14
Manhattan Gold & Silver has recently added some functional charts to it’s website.  These new charts will show users the historical value of precious metals.  The charts recently introduced include:
Each chart shows the historic price data as reported by London Fixings.  The default time spans that are shown include, week to date, past 60 day, past 6 months, pas year and past 2 years.  If you want to analyze a different period of time, that option is available.  Enter in the dates you would like to analyze and new charts will be rendered for you to view.  You can go back as far as January of 1985 to see how the prices have changed over time.
The 30 day / monthly gold chart is updated twice daily with AM and PM prices as released by the London Bullion Market.
Manhattan Gold & Silver is continually expanding it’s website to offer more information about precious metal’s prices.  Knowing what the price is over time, can help people to judge whether it is a good time to sell their jewelry and other precious metals.  Bring in your scrap gold, or send it to us and receive fast estimates and quick payouts!

Tips for Staying Safe When Selling Your Gold

August 24, 2010 06:13
Recently in Texas, a gold salesman was robbed of nearly $750K worth of gold.  According to sources, the salesman was in his car preparing to go into a gallery when thieves pulled up, jumped out of their vehicle and robbed him.  The gold consisted of many pieces of hand-crafted Asian jewelry.  As the price of gold rises, and the economy continues to falter, some will do anything to try and get ahead.
When possible, send in your gold or precious metals in so that you don’t have to worry about thieves.  If you prefer to come into a physical location, exercise caution to ensure your safety by following some of these safety tips:
  • Be discrete when traveling. Don’t “advertise” that you are selling gold for cash.  Carry your items in a backpack or other type of bag that you can secure.
  • Remember, there is safety in numbers, so travel with a companion. Friends can make you feel more secure, and you can keep an eye on each other while in transit.
  • Park your vehicle in a highly visible location, to cut the risk of being surprised.  
  • If you typically wear a lot of jewelry, remove it before you make your visit.  Wearing lots of flashy jewelry can be a signal to would-be thieves that you have cash and other items with you.
Above all, it is important to know your surroundings and take proper precautions to ensure your safety.  
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