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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 Price Update

December 10, 2010 05:15

While the United States celebrated the Thanksgiving weekend, gold continued to increase in value. The price opened the week after Thanksgiving with a sizable increase; up as high as $1,370.00 on the last Monday in November 2010. For the latest prices, check out our homepage or London Fixings page. While there’s no way to predict the future, demand for gold is presently strong.

Of course, there’s no single force driving demand; there are a variety of economic and political factors that have impacted the price of gold as it’s risen over the last several years. These contributing forces have caused quite a newsworthy stir as many are taking an interest in the gold market and discussing its trends. To get a sense of the changes in gold prices over time, you can use our interactive historical gold prices chart.

Manhattan Gold and Silver has over a quarter-century of experience in the precious metals refining business. Our gold payouts are fixed daily by the London Bullion Market Association (LBMA).  The gold fix is conducted daily at 10:30 a.m. and 3 p.m. London time. As a jeweler, pawnbroker, or other business with gold to recycle, we can give you the information you need to understand gold prices and your gold refining options. When you are ready to sell your gold, we’re ready to help.

How Much Gold Is in Goldschläger?

December 7, 2010 04:56

In our last post we mentioned some interesting facts and ways in which gold is used.  One way you might recall is that gold is used in the alcoholic beverage, Goldschläger. Goldschläger is a Swiss cinnamon schnapps that contains actual gold flakes.  The urban legend is that the gold flakes contained actually cut the throat and stomach, delivering the alcohol directly to the blood stream for quicker intoxication.  Whether that is true or not is still up for debate.  The fact remains that the gold found in it is real, so it must be worth something.  With gold prices continuing to climb, is it better to buy a bottle and harvest the gold to sell?  Or, is it just a novelty and should just be enjoyed and talked about among friends?

During the search to find information about this very subject, we were unable to locate an official website for Goldschläger, but many websites popped up that had people trying to figure out this very same thing.  When the drinking, filtering and collecting was done, the consensus is that there is approximately 0.1 grams of gold contained in the beverage.  That’s not a whole lot of gold.

Now you are probably wondering if that is enough gold to make you rich.  Gold prices are climbing, so that should be enough to retire on right? Wrong.  Using the tools provided on the www.mgsrefining.com homepage, we calculated that by today’s price of gold, the amount of gold in Goldschläger is approximately $4.31.  Not exactly stunning.  Here is the calculation.

 

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Gold Contained in Grams = .01

Converted to Troy Ounces (Gold is priced by Troy Ounce) = .0032

PM Price of Gold on October 29, 2010 = $1,346.75 per Troy Ounce.

.0032 X 1346.75 =

4.3096

Approximately $4.31

Goldschläger is about $25 per bottle so is it worth it to buy it just for the gold?  You will also need to find a gold refiner that will process the gold.  This is not a free service, so your $4.31 of gold is probably not worth very much at the end of the day.  This is probably not the most efficient way to invest in gold!

Manhattan Gold and Silver usually doesn’t take gold in such small quantities, but if we were to melt it down, after all the fees, you might be able to buy a cup of coffee.

If you have any larger pieces or lots of gold that you would like to sell, Manhattan Gold and Silver would be happy to test, melt and pay you for it! Manhattan Gold is a B2B company specializing in refining precious metals.

A Season for Silver

December 2, 2010 04:53

We talk a lot about gold here at Manhattan Gold & Silver, and sometimes it can seem like silver is a bit unappreciated. But that idea is far from true.

The silver market is an interesting animal. Did you know that silver is potentially more valuable than gold? That's because the industrial applications that use silver destroy the metal in the process. The demand outstrips the amount of new product mined; the difference is made up by remelting scrap metal.

The result is a price that may go in several different directions at any given time. Sometimes it seems to move relative to gold prices, but other times, it seems to be moving without any apparent connection to the precious yellow metal. Silver is its own best friend. And this year, it could be a friend to you.

At the start of 2005, the price was just under $6.50. Now, five years later, it has more than tripled, which put it in shooting distance of $30.00 per ounce with many market-watchers expecting it will hit that benchmark and continue upward in 2011.

So the coming year could see silver prices soar higher than ever before, according to some. But that's not likely in either literal or figurative terms. Silver previously peaked in 1980 when the price hit $49.45 per ounce. But adjust for inflation and the price would have to vault to $250 per ounce to break new territory. 

We will continue to watch the market and post about news as it arises. When you're ready to bring your silver and other precious metals in for recycling, we're here to help.

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