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US Makes Owning Gold Illegal

Mon, 22 Jun 2009 16:22:26 +0000

There was a time, for forty one years that it was illegal to own gold. In 1933 Franklin D. Roosevelt made it illegal for any person in the United States to own hoards of gold. The ban was not lifted until legislation was signed in 1974 by President Gerald Ford. Although the new bill did not do away with the Gold Clause Resolution of 1933, people could now buy and trade gold as a commodity.

After the great depression is when this all happened. Foreign banks, who were afraid of the failing economy, were turning in their paper money in exchange for gold. The gold supply was being depleted in the US.S. Reserve. Up until then the United States had been on the gold standard. Many dollar bills, like the fifty, were printed with a yellow back which indicated it could be turned in for the gold rate.

The Executive Order 6102 made it illegal for anyone to own more than $100 worth of gold. Citizens had to turn in their gold in exchange for paper money. The gold coins were melted down into bars by the U.S. Treasury department. This was done to keep the U.S. Overseas market avoid panic and keep the dollar afloat. The tactic worked.

Gold coins were not being turned in however. Private collections still have a few. These coins are considered a rare thing and extremely sought after by collectors and coin dealers everywhere. Certain $20 gold coins can range in value from $500 to over $20,000 depending on the marks and condition of the coin.

Gold is a timeless investment. The value of engagement rings has gone up considerably more and more over the years. Suppy and demand law is the reason why. The mines are not producing enough gold to satisfy the demand. Banks were selling their reserves and keeping the prices more stable. Now that they are holding on to the gold and the demand has increased, the prices are climbing. It is expected to peak at about $1,000 per troy ounce by mid summer of 2008.

The U.S. Treasury has also started to produce and offer for sale the gold eagle coin. This 1 troy ounce coin has a face value of $50. This is enabling anyone who wants to invest in gold to do so. The coins are also available in the ½ ounce, ¼ ounce, and 1/10 ounce varieties as well. Being able to invest in the gold market has finally become possible for the middle class. Many people are finding it worth the investment.

Investing in gold is a wise choice. Going up is the direction of the price. The demand is also growing. The ability to have it with you and easily transport it is a benefit. The fact that it is a tangible product that never loses value is the best reason to invest in gold. Now that the U.S. Treasury has made the coins available on the open market, anyone who ever thought of investing in gold can do so.

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For more information please visit

http://goldinvestingsite.com/

Gary Giardina

US property investment

Thu, 27 Sep 2007 07:21:44 +0000

Blue Ridge Mountain is about 90 minutes north of Atlanta. Blue Ridge Mountain was actually voted number two by Smart Money Magazine as one of the top five places in the U.S. to buy a vacation home! I always wondered what the Blue Ridge Mountains of Virginia were like when I heard the song as a child. I have recently been checking out the area and at really appeals to me with the abundance of wildlife, flowers and trees. The views look spectacular and the area boasts some fantastic mountain cabins where you can get away from city life and enjoy the natural beauty of North Georgia. This is a very good area to think about investing in a property of your own. It has the rustic feel, but the properties are just gorgeous!

Property profits tracker

Sat, 22 Sep 2007 11:19:54 +0000

I am about to complete the purchase of another Buy to Let property and I received some good advice yesterday on how to manage the financial side of this and any other properties that I buy in the future. To keep the administration to a minimum, make sure that the rent is due three days before the mortgage payment is made. Use specially designed budgeting software and spreadsheets to account for all outgoings on the property, such as buildings insurance, safety checks and agents’ fees. And of course, the most interesting part is calculating future capital growth on your investments …..

Borrowing for Property

Mon, 17 Sep 2007 21:20:18 +0000

I thought I knew a fair bit about mortgages but recently I almost ended up with a totally unsuitable loan that could have cost me a lot in fees and early repayment charges. After taking on mortgages for thirty years I really should have known better but we can all still take good advice. I wanted to release equity from my main property to enable me to invest elsewhere but at the time, which was the end of last year, I really wanted to sell it and take the money that way. Anyway I was persuaded that a remortgage was the best way to go. As self employed person I have a limited choice of lenders and I ended up dealing with a mortgage broker who was charging 1% of the advance for his work, and he found a loan that required an arrangement fee of £750. The real worry for me was that the deal was for a fixed rate – good in fluctuating rates – but if I needed to sell early I would have to pay a penalty of £7500. I really started to get a bad feeling about this and I pulled out: the house is now for sale!

As part of my re-education process I had a look at a website called rebuild.org, where there were three interesting stories about home equity loans, and how to get the best from them. It is best to know this first and avoid the mistakes that I made. Even though I did not proceed I did pay out a pointless valuation fee for the mortgage application.

Bypass the Estate Agent

Sat, 08 Sep 2007 15:43:37 +0000

At the moment the property market in the UK is still incredibly strong. It has been said that you would have to work harder not to sell your house than to take an offer! So at a time like this what exactly do estate agents add to the process? They rarely advise sellers on presentation, mainly they just act as a message service. So this is a good time to consider selling your or flat house privately online. try the service from Houseladder, where you advertise your house without an estate agent and save £000s. We sold our house there in less than 48 hours. Houseladder – Sell or Let your home online. Save £000s. Create FREE Ad Now!