GOLD to go China

GOLD to go China has been installed recently in a busy shopping district in Beijing. GOLD to go is a gold vending machine produce by a German company, Ex Oriente Lux AG. The exterior of the machine is coated with a thin layer of gold and offers customers 320 items to choose from, ranging from 24-carat gold bars weighing 1, 5, and 10 grams as well as gold coins from Canada, Australia, and South Africa. Each comes in a gift box. Shoppers in the popular Wangfujing Street can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices, the People's Daily said on its website. Each withdrawal is capped at 2.5 kilograms (5.5 pounds) or one million yuan (about $156,500) worth of gold, the report said.

Gold vending machines already exist in Britain, the United States, the Middle East and Europe.

The machine was launched Saturday by the Beijing Agricultural Commercial Bank and a gold trading company, the report said. They plan to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.

Gold is often used as a hedge against inflation and the machines could prove popular among Chinese consumers looking for a convenient way to safeguard their cash amid rising prices.

Chinese consumer demand for gold soared 27 percent year-on-year to 579.5 tonnes in 2010, according to the World Gold Council. China is the world's second largest bullion consumer after India.

Source: AFP.

China Daily reported that the ATM dispensing gold bars and coins was switched on this weekend and then swiftly switched back off again. The vending machine shut down the same day because it was not producing receipts. No specific date when the ATM machine will be running again by Gongmei Gold Trading, the gold ATM Operator in China.

In the future, will this vending machine be available in Malaysia?

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How to calculate gold coin price?

One of my readers favourite question is How much is my gold coin worth? I had been thinking about writing this post; How to calculate gold coin price? for over 3 months. It's not easy to find the right calculation for the estimate value of gold coins. Most of the time, the value worth more then the bullion price. But the easy way to calculate the value of your gold coins is by looking at the gold bullion price. This calculation can also be used for Silver Coin price. Thanks to my friend Wilson@Willy Chow for the tips and calculation formula. Hopefully this can help all Malaysian collectors who had been asking about Malaysia and Singapore gold coins.

Gold Silver price calculator

‎(current gold/silver price (per ounce) × 0.03215) × ( coin weight × gold/silver content) = coin silver value in US$

For example:
Tunku gold coin
(1820.80 x 0.03215) x (18.66 x 0.917) = US$1001.67 = RM3085.00

150th anniversary of Singapore gold coin.
(1820.80 x 0.03215) x (24.88 x 0.916) = US$1333.79 = RM4,028.98


Current Gold Price per ounce:


(If the chart cannot be viewed, you can go to Kitco.com)


Current Silver Price per ounce:



(If the chart cannot be viewed, you can go to Kitco.com)

For Free Currency Converter, you can try these website:
http://business.westernunion.com/currency-converter/

Please remember, this calculation is only for the bullion spot value. You must take into consideration the coin mintage, condition, type, age and also its rarity. For Malaysia gold coins market, this calculation give the "almost accurate" price for gold coins. Please give comment if you have any idea on this matters. This post meant to help collector who own a gold coin to calculate their estimate Gold/Silver Coins Value.

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Omega counterfeit coins

Anyone of you read about Omega counterfeit coins before? Its not about Omega gold watch but an unknown counterfeiter who signed his creations with a minute Greek letter omega “Ω”. His counterfeit works are the highest quality forgeries ever produced. He is believed to have made over 20,000 fake 1907 high-relief nominally US$20 gold Double Eagle coins and his signature omega can be found in the claw of the counterfeit US$20 gold Double Eagle coins. With a genuine coins a hard thing to get, it will be little bit harder to detect omega works.

Omega images by John Roberts

His counterfeits are of such high quality that collectors will pay upwards of $1,000 for one; a genuine coin sells for about $50,000 to $100,000. Omega also counterfeited other US gold coins, including a large quantity of $3 gold pieces, dated 1874, 1878 and 1882, with the 1882 being the most prevalent. Two of his counterfeit $10 gold pieces, the 1913-P and 1926-P, have the omega placed upside down within the upper loop of the "R" of "LIBERTY" in the Indian's headdress.

For this US$20 gold Double Eagle coins, Several diagnostic characteristics may help identify that this is a forgeries coin. The maker of these pieces, signed his work with a tiny symbol “Ω” inside the eagle’s claw. Two patches of distinctive tooling marks are found on the obverse, in the hair to left of Liberty’s face and on the ray directly above the first M of the date.

Source: Wikipedia, anacs.com.

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HK$1,000 Gold Leaf banknote

Today, I read via Brunei Buletin about a unique HK$1,000 Gold Leaf banknote presented by HSBC Brunei as a pesambah to His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam. The unique banknote is presented during the Hari Raya exhibition organised by Yayasan Sultan Haji Hassanal Bolkiah. On hand to present the pesambah was the Chief Executive Officer of HSBC Brunei, Mr Vincent Ho. It is exactly a replica of HK$1,000 in 24K gold, from the look of it.

What exactly a Gold Banknotes?

Normally you can see these kind of banknote sold in internet (eBay). Its exactly a replica of the real banknotes produced with a 24K gold foil. The weight of the notes normally is just around 5-7 gram and it need to be in a frame to make sure the notes does not wrinkled or damaged.

What notes has been produced?

You can find many country notes has been produced into gold banknote, just Google "Gold Foil Banknote"; US Dollars, Britain Pound, Japanese Yen, Australia Dollars etc. But I never seen any Malaysia Ringgit in Gold Foil before.

Is it worth it to buy Gold Foil notes?

In my private opinion, its not worth it because the notes always sold at a higher price then the notes value of gold. Don't forget you also need to include the shipping cost. 

What is Pesambah?

Pesambah mean token of appreciation or gift.

I cannot find any other information about the HK$1,000 Gold Leaf banknote presented to His Majesty the Sultan. Most of the information come from the same source and don't tell much about the banknote itself. If someone want to give a gift to me, this gold foil banknote will be nice.

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Video: Making Largest Gold Coin

How do Royal Canadian Mint make the largest gold coins? I think everyone of you knew about the World's largest gold coin; Million-dollar coin by now. Royal Canadian Mint has released a video: Making largest gold coin. In this video, they show how the biggest world coin in the world works process done by their stuff. Its not easy to make a big coin like that and from the video, look like almost all the job are done by hands. For a 100 kilos of gold and a pure 99.999/1000 gold, a careful inspection is a must. 

On May 3, 2007, the Royal Canadian Mint (RCM) unveiled a Gold Maple Leaf coin by artist Stanley Witten, with a face value of $1 million Canadian dollar. The weight of the coin is 100 kilograms, and measures 50 cm in diameter by 3 cm thick. The coin is mainly a promotional product to give the RCM a higher international profile. The 100-kilogram coin was conceived as a showpiece to promote the RCM's new line of 99.999 percent pure, one-ounce gold maple leaf bullion coins.

In June 2010, a piece of this largest gold coin auctioned by Dorotheum auction house for 3.27 million euros ($4.02 million). The auction was ordered by the administrator of Austrian investment group AvW Invest, which filed for insolvency in May after its owner and chief executive was arrested on suspicion of fraud, breach of trust and other charges. the auctioned won by ORO direct, a Spanish precious metals trading company. So far, only 5 of this coins exist; including Queen Elizabeth, who is also displayed on one side of the coin, two unidentified investors in Dubai and one who is so reclusive even his or her residence is unknown.

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Rugby World Cup 2011 Coins

Rugby World Cup 2011 (RWC) will be starting in 2 days time. New Zealand will be hosting this year RWC starting on 9 September 2011 until 23 October 2011. 20 countries will be competing each others in 13 venues for the 7th world cup. I am not a big fan of Rugby but any big competition like this should had some collection to help us remember them when it is over. I had been searching for information on any Rugby World Cup coins for 2011 that I can find but I only found 4 Mint/coin dealers who launched such coins for coin collector.

New Zealand Post
-All Blacks Silver Proof Coin

2011 All Blacks Silver Proof Coin launched by New Zealand Post on 19 October 2010. The one ounce pure silver coin is authorised by the Reserve Bank of New Zealand and, as per all New Zealand legal tender coins, has a portrait of Her Majesty Queen Elizabeth II on the ‘heads’ side. On the reverse of the coin, you can see Black face with a repeating fern pattern in low-relief, All Blacks logo and One Dollar are incused in silver. Read More.

-All Blacks-Haka Silver Coin 2011

All Blacks-Haka Silver Coin 2011 is the second coin issued by New Zealand Post. The coin portrays the All Blacks performing Te Rauparaha’s famous ‘Ka Mate’ haka before a match - a performance for which they are renowned the world over.The rim of the coin is engraved with Te Rauparaha’s renowned chant of the ‘Ka Mate’ haka: “Ka mate, Ka mate! Ka ora, Ka ora!” (“Will I die! Or will I live!”). Read More.

-2011 Webb Ellis Cup Coin

New Zealand Post with the Reserve Bank of New Zealand has released an official legal tender commemorative coin featuring the Webb Ellis Cup. The Webb Ellis Cup is the trophy awarded to the winner of the Rugby World Cup. The Cup is named after William Webb Ellis, who is often credited as the inventor of rugby football. The trophy is silver gilt and has been presented to the winner of the Rugby World Cup since the first competition in 1987. Read More.

-RWC 2011 Champions Silver Proof set

New Zealand Post with the Reserve Bank of New Zealand also produced a RWC 2011 Champions Silver Proof Coin set. You will get the Webb Ellis Cup Coin and four other coins representing country that had won Rugby World Cup before;  Australia (twice, in 1991 and 1999), South Africa (twice, in 1995 and 2007), New Zealand (1987) and England (2003). Read More.

Perth Mint
-Wallabies-Men of Gold 2011

Wallabies-Men of Gold 2011 minted by Pert Mint. The coin’s reverse depicts a Wallabies player in action, holding a rugby ball. The design features the famous Wallabies green and gold colours and official logo.Issued as legal tender under the Australian Currency Act 1965, the coin’s obverse depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II and the monetary denomination. Read More.

South African Gold Coin Exchange
-2011 Mandela SA Rugby

The South African Gold Coin Exchange (SAGCE) launched the new 2011 Rugby Coin Set on 31 August 2011. The coin set come with a 1/2oz gold and a 1oz silver coin. The reverse of the coin feature the Springbok emblem and the reverse show Mandela’s bust with the words “A Long Walk To Freedom”. The coin set minted by Mint of Norway and has a limited mintage of 2011 sets. They also launched an exclusive 2oz Mandela Rugby Set contains a 2oz gold and 2oz silver medallion. Read More.

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South Africa 2011 Rugby World Cup Set

Another Rugby World Cup 2011 coins minted is the commemorative 2011 Mandela SA Rugby. The South African Gold Coin Exchange (SAGCE) launched the new 2011 Rugby Coin Set on 31 August 2011. The coin set come with a 1/2oz gold and a 1oz silver coin. The reverse of the coin feature the Springbok emblem and the reverse show Mandela’s bust with the words “A Long Walk To Freedom”. The coin set minted by Mint of Norway and has a limited mintage of 2011 sets. They also launched an exclusive 2oz Mandela Rugby Set contains a 2oz gold and 2oz silver medallion that features Mandela’s bust on the obverse and the Springbok on the reverse. This 2oz Springbok set has a limited mintage of 500 and also minted by the Mint of Norway.

Although South Africa was instrumental in the creation of the Rugby World Cup competition, the Springboks did not compete in the first two World Cups in 1987 and 1991 because of boycotts against South Africa. However, on their debut in the 1995 Rugby World Cup, the Springboks made South Africa proud by winning the final match against New Zealand 15 - 12. In 2007 the Springboks once again lifted the prestigious Webb Ellis Cup high by beating England 15 – 6.

This is more look like a medallion then a coin for me but I think it still a good collection to mention for Rugby World Cup 2011 Coins. You can contact South African Gold Coin Exchange at online@sagoldcoin.com to enquire about the Springbok coin set.

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Kim Kardashian Gold Coin

A new Kim Kardashian Gold Coin will be released by Goldcoin.net to commemorate the wedding of Kim Kardashian and Kris Humphries last Saturday. Each coin will be hand crafted and minted in 1 ounce 24 carat gold. GoldCoin.net has been releasing the prototype Commemorative gold coin of the first-ever Kim Kardashian and Kris Humphries pure gold coins. From many celebrity news site I read looking for this information, Goldcoin.net have not talk with Kim Kardashian about producing such coin.

The obverse of the coins will feature Kim Kardashian and Kris Humphries with their names displayed on the top and [their wedding date] “August 20, 2011″ displayed on the bottom. The reverse of the coins will feature Kim’s $2 million engagement ring with “Together Forever” displayed on the top and “Only Time Will Tell” displayed on the bottom. Kim’s $2 million engagement ring will also be in 3D on that coin.

When I searching for more information about the price and when the coins will be available at Goldcoin.net, no such info provided. Will you buy this coins for your investment? I know some die hard fan of Kim Kardashian will buy these.

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Tensho Oban for auction

Tensho Oban for auction by Heritage Auctions on 9 September 2011. The Tensho Naga Gold Oban - Omodaka variety ND (1573-1591), one of the rarest of all Oban varieties. The Tensho Oban weight was fixed at about 165 grams and was hammered into three different sizes. This example is the 'NAGA' (or long type) and the largest physical size of all the Obans minted. The estimate price for this auction are $300,000 - $350,000.

This is an extremely rare variety of the Tensho Naga Oban due to the different upper stamp of the two stamps on the reverse: the Omodaka stamp. The Mori family was given permission by Toyotomi Hideyoshi (the great uniter of Japan) to make this official Oban and stamp the symbol of the their family on the reverse, which was the Omodaka plant leaf and flower. The large gold coin plate minted in 73% gold and 27% silver. The ink is original and a vibrant black color. There is scuffing on the high points of the obverse with a small amount of ink missing. Repair apparent on both sides at 8 o'clock on the obverse, and at the matching area on the reverse at 4 o'clock, as evidenced by the disturbance of the original texture of the surfaces near the edge. The repair seems to have been done over a hundred years ago and carefully hammered after perhaps being dropped.

Oban were made of hammered gold with a face value of 10 ryo or 10 Koban coins. The word Oban means 'large stamped' in Japanese. The earliest ōban were made in the 1580s, when the feudal lord Toyotomi Hideyoshi (1536/7-98) co-operated with wealthy merchants in the Kansai district of central Japan and monopolized Japan's metal mines. He then began to mint gold coins of fixed quality.

The auction will take place at Long Beach, California or you can bid it online at: The Tensho Naga Gold Oban.

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First Floating Commemoration

World’s first floating commemoration to mark the 500th anniversary of the maiden voyage of the Mary Rose revealed by Royal Mint early this month. A replica of the Mary Rose £2 coin was put on the ship resting place in the Solent. The ship was launched in 1511 and sank in 1545 during an engagement with French fleet. The three meter replica coin is a reproduction of the £2 Mary Rose coin released by the Royal Mint earlier this year.

Shane Bissett, the Royal Mint’s Director of Commemorative Coin commented "We produced the Mary Rose coin as a tribute to the world’s only surviving Tudor warship – and hope it serves as a reminder of Britain’s rich heritage as a maritime nation. In our 1,000-year history, we have never ‘floated’ a coin before, but there seemed no better way to celebrate the 500th anniversary of such an iconic vessel. Collaborating with the Mary Rose Trust and the Royal Navy Fleet Diving Squadron to execute the idea at sea was an honor, as we remember our naval past and look to its future."

John Lippiett, Chief Executive of the Mary Rose Trust said "We are delighted to continue our relationship with the Royal Mint following production of the Mary Rose £2 coin. We have much work to do to secure the future of the ship and we are grateful to everyone who supports our fundraising drive to help us build the new Mary Rose Museum here in Portsmouth Historic Dockyard. Building work is underway and we plan to open it before the end of 2012. Our hope is that people will send a Mary Rose £2 coin back to us here in Portsmouth to help us achieve our target."

Lieutenant Commander Richard Watson, Chief of Staff at the Royal Navy Fleet Diving Squadron added "Not only does the Mary Rose play an important part in Britain’s military history, but the story of this Tudor warship appeals to naval personnel and civilians alike. We were able to combine some of our training with this task and are proud to help the Royal Mint commemorate the Mary Rose and hope that the new £2 coin helps keep her memory alive."

The Mary Rose £2 gold proof coin will find its way into our change this year. Only 1,511 22 carat gold commemorative coin have been struck, reflecting the year of the Mary Rose’s maiden voyage. The coins have also been struck in sterling silver and pristine, uncirculated versions are available to buy in limited numbers.

Mary Rose £2 Gold Proof Coin

The reverse features an intricately detailed depiction of the Mary Rose that was inspired by the only known contemporary painting of her. It was created by John Bergdahl FRBS who explains: ‘After a trip to the museum currently the home to the Mary Rose, I was immediately inspired by the only acknowledged painting of this iconic vessel – an image that I used as the basis for my design.’

Technical Specification:

Denomination: M

Alloy: 22 Carat Gold

Weight: 15.976 g

Diameter: 28.40 mm

Minted: 1,511 pcs

Source: Royal Mint

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UAE's 1st gold bullion coin

UAE's 1st gold bullion coin has been unveiled by the Dubai Multi Commodities Centre Authority (DMCC), the Government of Dubai entity on Monday. Designed by DMCC, the “Khalifa” coin features a portrait of His Highness Sheikh Khalifa on one side, and on the other, Burj Khalifa, the world’s tallest tower. DMCC is also in discussions with the UAE Central Bank to designate the gold bullion coin as the first legal tender in the UAE and the Middle East as a whole. This Dubai Gold Coins are said to be a new Krugerrand. This Dubai Gold coins will be a legal tender coins for UAE.

Ahmed Bin Sulayem, Executive Chairman of DMCC, said:

“This innovative gold bullion coin was conceived to satisfy the demands from investors seeking access to gold as protection against the ongoing global economic uncertainty. The gold bullion coin pays homage to our President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, his vision, guidance and leadership".

“The Burj Khalifa is a symbol of the UAE as a progressive, innovative nation that whilst rich in heritage and traditions continually works to build a modern developed society. In this way the gold bullion coin stands as a national emblem which reflects the determination and achievements of the UAE federation".

The new gold “Khalifa” coin will carry DMCC’s stamp of quality and authenticity. The five-ounce coin prototype, which was unveiled in a special ceremony attended by senior representatives in the gold trade industry, was minted by Argor-Heraeus SA in Switzerland, which is accredited by the DMCC’s Dubai Gold Delivery (‘DGD’) standard. The DGD gold standard, launched by DMCC in 2005, is the adopted quality standard for gold and silver bars production and technical specifications in the region and is benchmarked to international standards.

Source: DMCC.ae

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First gold coin minted in USA

What is the first gold coin minted in USA? The answer will be $5 Half Eagle also reffered to as the Capped Bust to Right Small Eagle. The Half Eagle is a United States coin that was produced for circulation from 1795 to 1929 and in commemorative and bullion coins since the 1980s. Composed almost entirely of gold, it has a face value of five dollars. Its production was authorized by The Act of April 2, 1792, and it was the first gold coin minted by the United States. Many of the gold coins had been melted for their gold content. Its a very rare coins and very expensive.

Picture by Heritage Auction

The design and composition of the half eagle changed many times over the years, but it was originally designed by Robert Scot. At this time the coin contained .9167 gold and .0833 copper and silver. It had a diameter of approximately 25 mm, a weight of 8.75 grams, and a reeded edge. The obverse design, or "Turban Head", depicted a capped portrait of Liberty facing to the right. The reverse depicted a small eagle. This type was produced from 1795 to 1798. Simultaneously, another type was minted that depicted a larger heraldic eagle on the reverse with the inscription "E PLURIBUS UNUM". This type was produced through 1807.

Technical Specification:

Content: .9167 gold and .0833 copper and silver

Denomination: $5

Diameter: 25 mm

Weight: 8.75grams

Edge: Reeded

Year: 1795

Mintage: 8,707

Designer: Robert Scot

Source: Wikipedia, Heritage Auction.

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Gold Dinar in Malaysia

Gold Dinar in Malaysia has been started since early 2000 by IGD Practice Sdn. Bhd. in Melaka (correct me if I am wrong). The dinar marketing has been done by Singgahsana Emas Sdn. Bhd(SESB)which started their operation officially on 16 June 2004 at Plaza Usahawan building in Melaka. Tun Dr. Mahathir bin Mohamad, Malaysia fourth Prime Minister has been actively promoting dinar for Muslim worldwide trading. I know several companies in Kelantan who are using gold dinar as a tools of barter trade but it still not widely used in Malaysia for trading. Most buyer a collector and investor of the precious metal.

Umayyad Dinar sold for a record £3,720,000

The World Islamic Trading Organisation following the standard of caliph Umar Ibn al-Khattab has established the following standard for 1 dinar; Dinar weight: 4.25 grams, Alloy: 22 carats (0.916) Gold, Diameter: 23 millimeters. Another Islamic money is Dirham which is a specific weight of pure silver equivalent to 3.0 grams. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent to 10 dirhams." How many Gold Dinar is widely used in Malaysia?

1. Public Dinar

Public Dinar is own by Public Fine Gold International Sdn. Bhd. A Malaysia company based in Bukit Jambul, Penang. There is three kind of Dinar coins available for Public Dinar; 1 dinar, 5 dinars and 10 dinars. All of the dinar coin is following the Islamic Dinar standard by using a 916 gold (22 carats). The design of the dinar is different from each other. You can visit their website publicdinar.com to check for the live spot dinar prices. You need to contact them via email or phone if you want to buy. Upon agreement, payment should be transfer within 1 1/2 hour.

2. Dinar Kelantan

Dinar Kelantan own by Permodalan Kelantan Berhad. A Malaysia company based in Kota Bharu, Kelantan. Kelantan Gold Dinar is created by state government of Kelantan in 20 September 2006. There is four kind of Dinar coins available for Dinar Kelantan; 1 dinar, 2 dinars half dinar and quater dinar. You can visit their website dinarkel.com. Dinar Kelantan only available from all Ar-Rahn under Permodalan Kelantan Berhad outlet in Kelantan Province. Read More.

3. Dinar Muslim

Dinar Muslim is own by Nusantara Bullion Exchange Sdn Bhd. A Malaysia company based in Petaling Jaya, Selangor. The company is just 6 months old and most of their gold come from Dubai. There is three kind of Dinar coins available for Dinar Muslim; 1 dinar, 2 dinars and 8 dinars. You can visit their website nubex.com.my to check for the live spot dinar prices. You need to register at ther website and lock the price online. After your online purchase, you need to contact them via email or phone on method of payment.

4. Perak Dinar

Dinar Perak is owned by Perak State Development Corporation and produced by Goldnet International Sdn Bhd. They had started selling their dinar on end of February 2011 with 1000 dinar and dirham. They have four denominations, half a gold dinar weighing 2.125gm, one gold dinar weighing 4.25gm, two gold dinars weighing 8.5gm and set of silver dirhams. The face of the instrument is printed with the Perak state emblem while the back is with a similar instrument produced during the era of Khalifa Abdul Malik ibn Marwan. Their Dinar and Dirham marketed through Yayasan Pembangunan Ekonomi Islam (Yapeim) and Nusantara Bullion Exchange (Nubex Sdn Bhd). Read More.

They're also many other dinar that produce by small company or has been obsolete. If you know their story, you can comment in here or email me at lunaticg@gmail.com. Anyone of you Malaysian collect gold dinar? Is it for investment or just some kind of saving?

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How to buy gold coins in eBay

Regarding my post, tips to buy cheap gold coin, a reader asked and email me "How to buy gold coins in eBay"? Gold prices has steadily going up and today we can see its jump to USD1770. To buy them cheap and below market value, you nee a lot of patience. You cannot just come in and bought gold like you do in Jewelery shop. You need to do your own research and investigating. It took me days to decide whether that particular seller is genuine and honest seller. I am not an experience eBay buyer but I learn from others mistake and tips. Most of my items are Malaysia gold coins.

How to safely buy gold coins in eBay:

1. Only buy from seller with high positive feedback.

High positive feedback in here means you need to look if the seller had been dealing with gold before. How frequently they has been selling gold or gold coins? Do they have any negative feedback? Look at the feedback given by their buyer, read what people say about them. Do people that give them feedback has bought gold from other sellers before? Some feedback maybe are not genuine, you need to check that. For me, I also double check how old the user ID from the seller positive feedback. Anything below 3 months old are suspicious to me. 200 positive feedback already consider as a high positive feedback (If the seller only trade gold).

2. Only buy coins with major services grading

If you're more concern about grading, you should only buy an auction with major grading services (ANACS, NCG, PCGS, NCS, ICG). It will help you avoid buying something with lower grading. I am not into grading since it will cost me more. I just love to find Malaysia gold coins with low market value.

3. Read seller return policy

Make sure you also read sellers return policy. Most sellers have different return policy, some don't allow refund. I will be avoiding this kind of sellers since I am in Malaysia. Sometimes we are not satisfied with the actual coins that we received. Look for something (in their return policy) that will help you when problem happens.

4. Avoid auction with stock pictures

What I mean is auction without the original coin pictures. They're dozens of seller who are using the same old pictures in their sale. If you had seen the picture before that mean something weird is going on.

5. How much you're willing to pay

When buying on eBay, you should stick to how much money you are willing to pay for the coins. You should put into consideration the amount of shipping cost and other fees not just the bidding price. You also need to know your local market value. Most of the time, sellers in other country don't know Malaysia coins price.

Thank you for reading and happy hunting.

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Tips to buy cheap gold coin

A buyer asked my Tips to buy cheap gold coin before. I am not a gold coin dealers but I can find a cheap gold coins. Gold is a very good business if you know how to deal with it. If you had been reading my old post, Where to sell your gold coins, you might had been realized where I get my gold coins. The gold price had been going up over USD $1600 and I don't think it will ever stop with this kind of economy. Some people say commemorative gold coins are over price but you can still buy them at a below market price (Commemorative gold coins market price) if you can do what I am sharing in here.

How to buy cheap gold coins in Malaysia:

1. Buying them Online.

The best way to buy Malaysia gold coins is via eBay. Most of the time you can get the coins at gold value. Just look for reputable sellers in eBay and don't buy from anyone who have low positive feedback or low overall feedback. For newbies, I suggest you don't immediately buy gold coins in eBay, try cheap item first. After you understand how things work in eBay, you can start your gold coin hunting. With the introduction of Paypal in Malaysia bank system, buying online has been easy for everyone. With this method, you can buy them cheap but the item will be slower reaching your hands. Especially if you have problem with Malaysia Custom.

2. Ar-Rahnu/Pawn Shop

I get a lots of my gold coins from Bank Rakyat Ar-Rahnu and Pawn shop. Bank Rakyat has not accepting any coins without certificate anymore and its became a bit harder to find a new gold coins via Bank Rakyat Ar-Rahnu but you can still try your luck. I am always try making friends with any Ar-rahnu or Pawn shop workers. Asked them to help you distribute your phone numbers when they're people who want to sell/pawn their commemorative gold coins. But do remember, you need to be closed to the bank/pawn shop since most of the time, the owner want to sell them fast. You also need to make sure you can get a high amount of cash fast to conclude the transaction.

3. Among other collectors.

Other collectors are also the good way to find a cheap gold coins in your collection but most of the time, the price is not that cheap. For a start, try joining a group in Facebook, register with Malaysia Numismatic Society or any other numismatic group you can find. Trust is the big problem since not everyone know how to test a real gold. For me, this is where a friends in pawn shop will come in handy. I will meet the seller at the pawn shop and asked them for a help on checking/testing the gold.

4. Other methods

Other methods that I am using are finding them in mudah.my or some online forum that related to golds. You can still negotiating with the sellers most of the time. Sometimes, Gold investment company also have gold coins for sale. Most of them sell that coins according to their carat not their market value. Just make sure you know how to test for real golds. You also need to know Malaysia commemorative gold coins value. Make sure you knew your gold coin carat. Most gold coins are in 21K or .917 fineness but they're some coin with 24K gold. Also check if that coin a rare, rare coin have a high value.

Anyone investing in gold in here? Do you know that gold coins value is much more higher then their bullion value most of the time?

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Double eagles case-govt can seized coins

Yesterday, jury concluded on the 1933 double eagles case-govt can seized coins. A news by The Associated Press reported that jury has decided the U.S Treasury rightfully seized a set of rare 1933 gold coins from a Philadelphia family. The Langbord families are expected to appeal against the decision. The trial judge, Legrome Davis, will next rule on “ownership” of the coins later this year. The coins are estimated to be worth $75 millions dollar base on 1933 double eagles past auction.

In the case, the government argues that the safety box was not rented until six years after Switt died in 1990. Government lawyers say that 10 other "double eagles" that surfaced in the 20th century can all be traced to Switt. Prosecutors believe Switt and a corrupt cashier at the Mint had a hand in the breach. The Langbords had opened their deposit box the day before the London dealer's Farouk coin was seized in 1996, Romero said. The family later offered a similar 50-50 split with the U.S. to settle the case, but the government rejected it on grounds the family cannot legitimize their ownership of the coins, given Switt's history.

Lawyers for Langbord and her two sons Roy and David, argue in court documents that having a theory as to how the coins left the mint isn't enough. The government must prove the coins were stolen. They argue that in the 1930s, it was common and even permissible for employees of the mint to replace old coins with new ones of equal value.

Source: Associated Press

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Battle for 1933 double eagles

Many of you most probably still remember the 1933 Double Eagles, the most expensive coin before The Neil/Carter/Contrusi 1794 flowing hair dollar. A court battle between the heirs to a renowned Philadelphia jeweler, Israel Switt and the US government had been going on for the ownership of 10 rare gold coins from 1933 worth an estimated $75 million. Government says that its were stolen because the coins never authorized for circulation.

According to AFP, the trial before US District Judge Legrome Davis began last Thursday, and is expected to last two weeks. The descendants of Israel Switt say, the government cannot prove the coins were stolen and nobody knows exactly how their father came to possess the coins. Court documents filed in the case include tales of international intrigue, US economic history, and as the jury heard Friday, the minutiae of the accounting procedures at the US Mint over seven decades ago.

1933 Double eagles were minted on 15 March 1933, a week after President Franklin Roosevelt, ordered the US Treasury to halt the release of all gold. In 1937, all the coins were destroyed by the Treasury and melt them into gold bars. Only two of the coins survived as part of the official US coin collection at the Smithsonian Institution.

But 10 of the coins surfaced in the 1940's. Over the next decade, the US Secret Service tracked down nine of them and destroyed them. All of the owners said they bought them from Switt, or from someone who bought them from Switt, according to court documents. Switt was twice investigated for illegally possessing gold coins in the 1930s and 1940s. He surrendered many of the coins, but was never prosecuted because the statute of limitations had run out, Assistant U.S. Attorney Jacqueline Romero said to Associated Press.

The tenth 1933 Double Eagle, became the personal collection of Egypt's King Farouk in the 1940's, he received permission from the US government to ship the coin overseas. In 1954, the coin turned up at an auction in Cairo, during a sale of the deposed king's coin collection. Upon learning of the 1933 Double Eagle, the US government requested that it not be sold. The coin disappeared, only to turn up in the 1990s in the possession of British collector Stephen Fenton, who was arrested in New York City after trying to sell the coin to undercover US Secret Service agents. The government and Fenton later consented to its sale at auction on 30 july 2002 for $7.59 million and split the proceeds with the owner.

In 2004, Switt's daughter, Joan Langbord, told officials at the US Treasury that she had found 10 more 1933 Double Eagles in a safe deposit box.She asked the Treasury Department to authenticate them. The government instead seized them, but the federal judge later ordered officials to defend the forfeiture at trial. The coins are being kept at Fort Knox.

The government argues that the safety box was not rented until six years after Switt died in 1990. Government lawyers say that 10 other "double eagles" that surfaced in the 20th century can all be traced to Switt. Prosecutors believe Switt and a corrupt cashier at the Mint had a hand in the breach. The Langbords had opened their deposit box the day before the London dealer's Farouk coin was seized in 1996, Romero said. The family later offered a similar 50-50 split with the U.S. to settle the case, but the government rejected it on grounds the family cannot legitimize their ownership of the coins, given Switt's history.

Lawyers for Langbord and her two sons Roy and David, argue in court documents that having a theory as to how the coins left the mint isn't enough. The government must prove the coins were stolen. They argue that in the 1930s, it was common and even permissible for employees of the mint to replace old coins with new ones of equal value.

Source: AFP & Associated Press

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John Lennon gold coin sold

A John Lennon gold coin sold for a record $119,780 including 24% value added tax by the Bonhams auction house in London on 29 June 2011. The coin, released on what would have been Lennon’s seventieth birthday in 2010, is part of the ‘Great Britons’ series of silver £5 coins depicting famous Britons from history. The John Lennon Alderney £5 gold coin is specially created for his widow, Yoko Ono. The reverse side of the coin featured the portrait of music legend John Lennon.

Picture: Yoko Ono holding John Lennon coin.

The Royal Mint struck a one‐off, 22 carat gold version of the £5 silver coin. It is being auctioned by the Alder Hey “IMAGINE” appeal of which Yoko Ono is a Patron, to benefit the work of Alder Hey Children’s Hospital in Liverpool. Funds raised through the appeal helps the renowned children’s hospital to continue its pioneering work, to develop facilities, and to offer the very highest standards of care to its young patients.

Picture: John Lennon Gold Proof Commemorative Coin 

Lennon’s iconic sixties image was designed by sculptor Danuta Solowiej‐Wedderburn with the now familiar Ian Rank‐Broadley profile of Queen Elizabeth II on the obverse. The coin is dated “2010” and weighs 38 grams of .999 fine gold with a diameter of 38.6 mm. Struck as a proof piece, this coin is truly worthy of being described as a museum quality acquisition. John Lennon was selected from six great Britons by a public online poll, which saw over 30,000 members of the public vote and the former Beatle receiving 92% of the votes!

Source: Royal Mint UK

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China dragon coin auction record

A gold China dragon coin auction record for £46,000 in a recent Spink auction. The China Kuping Tael, depicts a symbolic Chinese dragon surrounded by clouds on its face, with the value, date and inscription 'Ta Ching Gold Coin' on its reverse. Many people target the coin price can go as far as £97,000 but its only come a little bit over its lower estimate. The gold pattern K’uping Tael coin broke Spink previous record for dragon coin at £36,800.

Detail of the coin from Spink:

China, Empire, Kuang-hsu (1875-1908), gold pattern K’uping Tael, 1906, Tientsin mint, plain edge, dragon surrounded by large clouds within plain circle, no inscription, rev. four characters, ‘Ta Ching Gold Coin’ within beaded circle, date over, value below (F.1; Kann 1540; L&M.1023), in NGC holder graded MS62, extremely rare.

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1800 British sovereigns gold coins?

Construction workers in Port city of Albany, Australia south west coast found around 400 pieces of 1800 British sovereigns gold coins. Police are trying to determine who owns a treasure-trove of gold coins unearthed from a building site on Australia's southwest coast. Initial reports said the sovereigns dated back to the year 1800, and were worth more than $500,000. Albany was the first settlement in WA, established in December 1826, even before the Swan River colony which led to the Perth's early development.

Western Australia state police spokesman Gerry Cassidy said workers found the 400 British sovereigns last week while digging a ditch in the port city of Albany. They handed them to the property owner who is claiming ownership. Cassidy said Wednesday police are checking law books to determine whether the property owner or even a museum is entitled to keep the coins, dated 1800 — 26 years before Albany was settled by Europeans.

"Police have got to work out exactly how they handle it," Cassidy said.

He said an appraiser valued one of the coins at 16,000 Australian dollars ($17,000) but did not have an estimate for all of the coins.

Brett Joins, chief executive of Wauters Enterprises, confirmed his construction company had given the coins to local businessman Paul Lionetti.

"An exhaustive search was completed of the site and no other items were found," Joins told Australian Broadcasting Corp. radio. Lionetti could not immediately be contacted for comment Wednesday.

Police have no theories on how the coins came to be buried in Albany. Cassidy said the coins were found individually and did not appear to have been buried in a container.

Adrian Rose, of Paul Fraser Collectibles, said that British gold sovereigns were first minted in 1817, “so the 1800 date mentioned is a bit of a mystery - probably a misquote, I would think. There are also questions over the number of coins involved with some reports saying 300, others 400. Based on 400 coins the bullion value of the gold would be in excess of £86,000; the value of the coins on the collectors markets would be considerably more. The value of this find will depend on the exact date of the coin. For example a single 1817 gold sovereign sold for £340 at auction in the UK in February 2011, so the value of the whole collection could be over £100,000.”

Albany, which is around 400km south of Perth, was the first European settlement in Western Australia, and was established by the British in 1826 to try and prevent French forces from taking an interest in the area. Until 1900, it was home to the only deep-water port in Western Australia. British sovereigns were used in Australia until 1855, when the Sydney Mint started to produce its own version of the coins, featuring a unique Australian design.

Source: The Associated Press, BBC News, Herald Sun.

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