The Country of Iraq Just Bought a Lot of The Yellow Stuff – Gold That Is!
How does 36 metric tons of gold sound! It sounds like a lot to me! The precious metal was valued at about $1.56 billion, and was the biggest purchase of gold in the countries last 3 years.
The CBI of Iraq bought the bullion to help stabilize its currency against other forging world currencies. The Iraq money also goes by the name of “Dinar”. This is at about 1/10 of a USD penny. I would only have to imagine that people that hold the dinar for an investment (they are waiting for it to go up and than cash out in United States Dollars) would think this kind of news is going in the right direction.
“Gold is quite attractive to central bankers,” Mark O’Byrne, a director in Dublin at brokerage GoldCore Ltd., which has more than $200 million in bullion under management, said today by phone. “They see it as an important asset diversification and a safe-haven element within foreign-exchange reserves.”
I think the USA should go back to the Gold standard and back our money with the metal, this printing of our fiat currency is getting out of control. If we keep this up our once great nation is going to crash and burn. Its just a matter of time before we have to pay the piper. I will still keep collecting REAL MONEY! Thats right good old American coins, you know the ones that were made out of real silver and were actually withe something.
Collecting Old American Coins and Other Currency
Collection of old American coins, also known as numismatics, is one of the most interesting hobbies of all times and it can actually be profitable too. Keeping collectable coins is one of the oldest hobbies in the world as evidenced by records of Julius Caesar being one of the aficionados. You can start collecting coins for yourself or for your youngster if you so wish, this is a great bobbie to start togather.
People collect coins for a number of reasons including pleasure, historical purposes and as investments. The types of coins commonly collected by people include coins that are aged, beautiful, rare, and interesting or those ones that only circulated briefly before they were withdrawn. Most coin collectors use a systematic method of collecting, which may include old american coin values, the date of release, the type of coin, the reigning King or Queen of its time and the country.
So where do people get the coins to collect? Collecting requires a lot of research meaning that you may have to go through a variety of antique stores in your country that are selling precious coins. You can start by finding some info from your friends and relatives, and see if any of them has rare, elegant or interesting coins. With time maybe your friends will let you start purchasing coins from them.
If you have decided to start a collection of your own, then you need to ensure that you choose those that are in the best possiable condition. This is because coins in poor condition may not be of value but if the condition is good to great, they can be worth fortunes. This is very important for people who are hoarding old American coins as an investment plan. You should also find out how you can grade, clean them and the best places you can buy, sell and even trade your collection of old money, a great place to start would be to take a look at a coin dealer newsletter.