Precious metals


ON A LIGHTER NOTE-GOLD COIN BULLION LEFT TO LAST HEIR

A substitute teacher in California is the likely heir to a trove of gold coins worth over USD$7 million uncovered by a cleaning crew in the home of a recently deceased relative.

Gold Company


The National Post reports that Arlene Magdon is believed to be the sole remaining heir to the treasure amassed over many years by Walter Samaszko Jr., Magdon’s first cousin and a quiet recluse who passed away earlier this year at the age of 69.

Samaszko had resided in the Nevada capital of Carson City since the late 1960’s and led a quiet and frugal life. Records indicate he would withdraw only $500 a month from his stock accounts for the payment of modest costs.

Following Samaszko’s death genealogical researchers were unable to find any living family members in Carson City and were compelled to search further afield. Arlene Magdon is believed by them to be Samaszko’s last living heir.

A clean-up crew enlisted by Alan Glover, the Carson City Clerk-Recorder, following Samaszko’s death discovered a staggering trove of gold bullion in his garage. According to Glover the gold coins, many wrapped in foil and plastic cases, are numerous enough to fill two wheelbarrows.

A report filed by appraiser Howard Herz several weeks ago lists a total of 2,695 coins estimated to be worth over $7.4 million in total.

According to Herz Samaszko, far from being a reclusive crank, was in fact a canny bullion investor.

“What some individuals have called a hoard of gold is, in fact, a quite well-thought-out investment in gold,” wrote Herz in his report.

Sourced & published by Henry Sapiecha

WOW…!-GOLD IS GOOD-BUY NOW

gold

SILVER IS ALSO A GREAT OPTION

It’s advisable  to get some gold. Perhaps you’re probably wondering if it’s too late and that’s really what I’m talking about. Longer term, government counterfeiting is set to destroy paper currencies so I think it’s dangerous to not at least have some gold set aside  even at the current price.

But if you’re worried you’re missing out, you might want to consider gold’s little brother: silver…

silver-coin

Over the years, there’s been a ratio of gold to silver of 50.

That’s to say, if you divide the price of gold by the price of silver, you should get 50.

More than that, and silver is undervalued and vice versa.

Gold is about $1000 an ounce and silver about $16, so that makes the ratio 62, meaning silver is cheap in relation to gold.

This could well be the next commodity China wants to accumulate (and send the price soaring). Unlike gold, silver isn’t just a precious metal; it’s used in many industrial applications.

Even better, China is encouraging its citizens to buy silver (as it’s cheaper for them than gold) to defend against Washington’s counterfeiting.

The trouble with silver is that it’s quite impractical to store it

american-eagle-gold-coins

It would take 62 silver coins to equal just one gold coin currently. Another way to is play it through a silver fund like SLV and/or a silver royalty company like Silver Wheaton (SLW).

But all this is assuming Dow Theory works as it’s supposed to and this psychological rally continues regardless of all the ugly fundamentals.

We’re at an important crossroad in any case and money will be made and lost. Now is definitely not the time to be asleep at the wheel.

ADVICE–BUY GOLD & SILVER NOW

Published by Henry Sapiecha 15th Sept 2009

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