Zane's Business

Business Gold Prices Per Troy Ounce

2009-12-01T15:11:00.000-08:00

The allure of Gold has led Mankind to treasure it. Due to recent high Gold Prices per Troy Ounce, many people have elected to enter into the Business of Gold. While Prices per Troy Ounce may fluctuate, the appetite investors have to own the precious metal seems to never wane. From Bullion to Jewelry, the element attracts buyers from around the Business Globe. World Image from clix-sxc-hu.

Gold Prices

Gold Prices have now reached near $1000 per troy ounce. The interest in buying the shimmering precious metal has caused a new slew of infomercials touting its investment qualities. Miners are heading back to Alaska to comb the river bottoms and black sand beaches, searching for golden nuggets and flakes.

Gold Prices, sellers, and buyers for bullion, coins, jewelry and scrap are readily available. Coin and Bullion stores are easily found. Gold Bars can now be ordered online. One cannot be too careful, though, to pre-qualify any online merchant.

Investing in precious metals, which often includes Platinum, Silver and even Rhodium, is back in vogue. For those on a small budget, Silver, at around $13 per Troy Ounce, may be a starting point. Palladium might also be an option. Palladium is quoted at approximately $200 per troy ounce.

Platinum is also sold in coin, bullion and bar form, Platinum prices have recently been quoted at more than $1000 per troy ounce.

Investing in the Gold Mining Business is easy. Public company stocks are the choice of many. Those with a more of a business entrepreneur mentality can be found panning for nuggets and flakes throughout the goldfields and rich river runoffs. If you are not inclined to run your own business, there are plenty of Platinum, Silver, Palladium and Rhodium miners in which to invest.

With time the precious metal becomes harder to find. Soon there may little left to discover and fewer business opportunities to explore. Gold prices could soar. The opposite is also a possibility.

Gold is at a Record Price

2009-11-09T06:53:00.000-08:00

Gold is at a record price. Having recently exceeded $1000 per troy ounce, the precious metal is now trading at an all time record price of over $1100 per troy ounce. Fears of worldwide inflation are helping to stoke the high prices. Gold traders are also buoyed by the huge returns that have been made over the past decade by trading in the bullion. Because gold is at a record price many are simply thrilled that their coins, bars and even necklaces, watches and other jewelry items are now a new found fountain of wealth.

Gold at Record Price

While the value of silver is also soaring, it is not near its all time high. Much like the pirates of old, whose shipwreck treasure is still being found, the allure of owning the shiny metal, gold at record prices is difficult to ignore. As with any investment of high value, such as diamonds, silver or even rhodium, the value may someday fall. For now though, anyone who has purchased bullion is sitting on a nice profit.

Only time will tell if gold will hit a new record price, but at this rate, the $2,000 per troy ounce mark may just be in sight which means that we may see another headline of gold at a record price.

American Eagle Gold Coins

2009-07-25T23:38:00.000-07:00

Numismatic collectors often consider American Eagle Gold Coins to be the ultimate trophy of their collections. The history of these valuable precious metal pieces can be traced to the great California gold rush in the mid 1880s. The first American Eagle Gold Coins to be minted were $10 pieces. Later, $20 editions were created which are now referred to as Double Eagles. This is due to the majestic depiction of an Eagle that is imprinted on one side.

Most Valuable American Eagle Gold Coins

In 1933 President Franklin Roosevelt signed into law an act that prevented the private ownership of gold coins with the exception of those that were unusual and rare. In 1934 the government of the United States actually recalled the $20 Double Eagles. The intent was to melt these coins. These actions were the result of previous hoarding of precious metals during the great depression. This was a time in the United State’s history when banks were considered less reliable than ownership of precious metals.

The result of the recall was that the 1933 American Double Eagle gold coin, which was the primary focus of the government’s confiscation, became very valuable. The few that survived are considered among the most valuable and sought after coins for many collectors.

A new act passed by congress in 1985 created the first modern official minting of American Eagle Gold Coins. In an effort to make them more durable they are made slightly more than 90% pure with the balance consisting of silver and copper.

Shipwreck Treasure Gold and Silver

2009-07-14T02:12:00.000-07:00

The lure of finding a great Shipwreck treasure full of Gold and Silver coins and bars has drawn many adventure seekers to search for lost ships in the oceans depths. Recently, technology has advanced to a point where the ocean floors can be scanned by radar and other techniques. This has led to the discovery of incredible valuable shipwreck treasure, including mint condition gold and silver coins, bullion and bars. These treasures now total in the thousands of troy ounces of precious metals worth hundreds of millions of dollars.

Most Valuable Shipwreck Gold Treasure

The business of finding sunken shipwreck treasure can be quite secretive. A company by the name of Odyssey Marine operating out of Tampa, Florida has located and collected treasure for several years by deploying unmanned submarines. A reputed find recently yielded over 17 tons of gold and silver coins dated from the 17th century. This is speculated to be the cargo of the famed Merchant Royal ship, otherwise known as “The Eldorado of the Seas.” This ship sunk in 1641 after setting sail from Spain. She was carrying the large cache of gold and silver which was to be used to help pay for Spain’s army. The ship was headed to Antwerp when it sank.

Odyssey Marine code named the shipwreck treasure recovery of the reputed Merchant Royal ship, the Black Swan.

Recently the shipwreck treasure of the SS Central America was discovered off the coast of the American Carolina's by the Columbus-America Discovery Group. The Central America was carrying precious metal coins and bars that originated in the San Francisco Gold Rush, by way of Central America, on its way to New York. It went down in a hurricane during 1957. One of the largest gold bars ever recovered was found in the shipwreck treasure ruins. It was recovered and today has an estimated value that may exceed $10 million alone.

Gold Trading

2009-07-01T23:45:00.000-07:00

Gold trading can take many forms. These include everything from actually buying and selling the precious metal to investing in futures, options, coins, bullion, bars and stocks. With prices that have tripled this decade, the one surety is that gold trading will continue to be a prominent feature of many investors’ portfolios.

No one can predict the direction of gold trading prices and investing in this element can carry great risks. On the other hand, if one wishes to invest in this product, then there are several possible ways to do so.

Bullion and Coin Gold Trading

Gold bullion may be the purest form of precious metal investment. Normally, purchases may be made in increments from a tenth of ounce to giant bars, which sometimes total 100 ounces or more. A larger premium is usually charged for smaller purchases and a smaller premium for the larger bars.

Coins are a common form of gold trading. Some buy these coins for their perceived investment value, while others simply purchase coins for their intrinsic beauty or to own a piece of history. From the silver Pieces of Eight that were used in Spain to American Eagles and Australian Krugerrands, there are many coins to choose from.

More exotic and quite likely, more risky investments include options and futures contracts for the metal. These often allow leverage and usually do not require actually taking possession of the investment.

An alternative gold trading method to those outlined above is to buy stocks in mining companies. Trading in stocks may also carry additional risk and often change in value more than the actual precious metal does.

Precious Metal Rhodium is the New Gold – Worth Near $10,000 Per Ounce

2009-06-19T01:54:00.000-07:00

Rhodium may be the least known precious metal but don’t let that fool you. The value of this extremely rare and important element once soared to over nine times that of gold and even four times the value of Platinum. In 2008, Rhodium prices made it the most precious metal on earth.

Anyone who was lucky enough or smart enough to invest in Rhodium five years before its high was able to purchase the precious metal for less than $400 per ounce and make a profit of thousands of dollars per ounce.

The driving force of the high price of Rhodium was two-fold. First was the rarity of the precious metal. It only occurs in a few locations around the world, most often in association with platinum or as a byproduct of platinum and copper mining. The major producer is South Africa. Due to the extremely small concentrations of the element in the earth, it would probably not be feasible to mine by itself, even at a value of $10,000 per ounce.

The other factor that was causing the price of Rhodium to soar was the growing use of it in catalytic converters for the automobile industry. A very small amount of the element is typically used in each catalytic converter, along with platinum, which together act as a catalyst to help reduce auto pollution. Recent scientific break-throughs have led to an even greater use of the precious metal for this purpose.

Rhodium was considered a new "Gold Mine.” Most often sold in sponge form, the element was committed for sale, typically under contracts that continued years into the future. The automobile companies were projecting high growth and had to lock up long-term supplies.

Unfortunately for the investors in the precious metal, the market for automobiles tanked and the auto companies began dumping Rhodium back onto the market. They also cancelled future contracts to buy more of the metal.

The spot price of Rhodium then, amazingly fell in 2009, to way under $1000 per ounce. Less than gold.

A small market for Rhodium exists in the jewelry industry. Surprisingly, the use is not considered by the general jewelry-buying public as adding much value. This is most likely due to its history as only a plating which is applied in an extremely thin layer, thereby using very little Rhodium.

While Rhodium prices may vary, it is unlikely that a large new source will be found. Could this lead to a prolonged shortage and the return of high prices? If that happens then it may be said again that the Precious metal rhodium is the new gold.

Sell Gold

2009-05-12T03:36:00.000-07:00

Sometimes, the best way to raise money is to Sell Gold. From old jewelry and coins, to computer parts, scrap and bullion bars, this precious metal is bringing big money to individuals who sell gold.

There are several options available to sell gold. First, a whole bunch of companies are now advertising online to buy scrap gold. For old jewelry that is broken or other items that have only reclamation value left, this may be a good option. But, before you sell gold for scrap, it’s very important to know how much a person has.

How to Sell Gold

To determine values for your precious metal, it must first be weighed. If it is 24k, then it is pure. If it is 18k or less, then it is only partially pure. A good idea may be to call local coin or precious metal dealers with stores in the area. Most, will probably offer to weigh it at no charge. Often, a precious metal coin store will offer to buy it.

After figuring out how much the scrap weighs, one needs to make sure and get the best price for it. The daily price of gold per troy ounce is shown adjacent to this article on this page. It is updated frequently and can be checked daily.

No matter whether you sell gold to a coin store, independent jewelry store, online, or even to a friend, the value needs to be calculated. Do this by multiplying the current price by the number of troy ounces, or portion thereof (not everyone has a whole troy ounce.) This will give the total “spot” value of the gold.

Now comes the tricky part. Unless you have coins with intrinsic value or usable jewelry and computer parts to sell, then don’t be surprised when offered less than the “spot” value of the scrap you have. Everyone has to make a profit. The dealers who are willing to buy gold will probably offer less than the full value.

The key, for those who want to sell gold or to sell other precious metals, is to know how much they have, what the value is, and then to check all of options for selling it. Get quotes, see who will pay the most, then enjoy spending the extra money you have just obtained.

Silver Bars

2009-04-06T05:34:00.000-07:00

Typically, silver bars are sold by the troy ounce. Most often the silver bars are sold in 1, 10, and 100 troy ounce increments. A purity of 99.99 percent is the normal standard. Other purities and sizes can be created, but are less common forms of the precious metal. In comparison to coins, silver bars are closer to an industrial form of the metal. The wanted image is courtesy of spekulator-sxc-hu.

Silver Bars Price

When purchased, silver bars normally have a price that is based on the spot price of the precious metal plus a markup to the dealer. At the time of selling, the amount paid by the dealer is usually the spot price of the metal minus a discount. Occasionally a private seller may be found who will pay more, or a private buyer found who will sell for less. The 100 oz bullion products sell for less of a markup than the 10 oz bullion.

There is a collectors market for this bullion. Mostly, collectors are looking for the bullion that was produced a very long time ago and is clearly stamped by the mill. Some common mills that produced these are Johnson-Matthey and Engelhard. A premium price is paid for either of these company’s products.

Silver bars can be physically checked to confirm purity. This is always recommended, along with taking physical possession of the precious metal at the time of purchase.

Red Colored Diamonds are Most Valuable

2008-08-12T19:01:00.000-07:00

Red colored diamonds are the rarest and most valuable diamonds on earth. Only 20 are thought to exist. It is said that the lowest value of any one of them exceeds $2 million with another that has sold for around $8 million.

The largest red colored diamond ever sold is named the Moussaieff. It weighs a total of 5.11carats. Supposedly the Moussaieff, which is cut into a triangular brilliant cut pattern, was found by a Brazilian farmer. Who says farm work doesn’t pay? The gemstone was reported to have weighed around 11 carats before it was cut.

Other examples of the extremely rare red colored diamond gemstones are held in off-limit private collections and in a handful of investors’ portfolios. A few more are held by museums. Of course, with a commodity so small that it could be hidden in a thimble, and so valuable that wars are fought over them, some owners prefer to remain anonymous.

Red Colored Diamond Investment

I was not able to easily locate any source that had a red colored diamond for sale. That does not mean that one does not exist. Therein lies the opportunity for a wiley and rich investor. If you can locate one of these for sale and can afford to buy it, you most certainly will be able to eventually profit from the transaction. With an item so rare that only twenty may exist in the world, there is no doubt that demand will outstrip supply forever.

Blue Colored Diamonds

If you just can’t afford a diamond like the Moussaieff, then you may want to consider a blue colored diamond. The price for the blue stones starts at just over $500,000 per carat, which isn’t really that much considering a diamond is forever. Recently one of the blue ones sold to the same owner of the Moussaieff. It sold for around $1 Million per carat.

Turn Your Loved One into a Red Colored Diamond

Perhaps you find the blue and red diamonds to be out of your price range. I have just the solution. A company called LifeGem reportedly can turn the cremated remains of a loved one into a diamond. It just so happens that the most expensive offering is a red version. It may only cost you $25,000. Check with the manufacturer for current pricing.

Thank you for viewing Red Colored Diamonds.