Without Prejudice UCC 1-207
FOR INFORMATION & EDUCATIONAL PURPOSES ONLY
"The biggest conspiracy of all is the claim that there are no conspiracies."
NEED PROTECT YOUR WEALTH ?
PAGE UPDATED 9 - 16 - 03
"Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort." - Antony C. Sutton
In 1989 a MS65 Morgan (wholesale price) went to $800, today it sales wholesale for $80 according to robnoel (a dealer)
Lets play the valuation game. 44 trillion in govt liabilities divided by 8000 tons of gold. $5500 per gram. That's somewhere north of $170000 per troy oz. ... What does it divide out to if the Au is gone?
If a revaluation as above is renendered, what has the the government left to back the future dollar/debt?
ARE INTERNATIONAL BANKERS ABOVE THE LAW? Amazing stuff! In essence, the defense says "we are too powerful to bring to justice so leave us alone" . In the past suit against Greenspan and other International Bankers they claimed having what is called "sovereign immunity" against suit, simply could not be included in the suit; and that the suit was therefore dismissed.
RECOMMENDED INTERNET SITES FOR DAILY MONITORING OF GOLD AND PRECIOUS METALS NEWS AND ANALYSIS (just copy/paste)
Free sites:
http://www.jsmineset.com
http://www.mineweb.com/
http://www.gold-eagle.com/
http://www.kitco.com/
http://www.usagold.com/
http://www.GoldSeek.com/
http://www.goldenbar.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.sharelynx.net
http://www.mininglife.com/
http://www.financialsense.com
http://www.goldensextant.com
http://www.goldismoney.info/index.html
http://www.depression2.tv
http://moneyfiles.org/
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
7-7-03
WHERE WE ARE NOW - IMHO - Just Waiting for the "Fat Lady" to Sing !
- As the American people sleep and the US dollar and their standard of living are "devalued", the United States is bankrupt and most of the Corporations are bankrupt. All seem to be using special instrutments, derivatives and swaps to stay afloat.
- United States Government is "COOKING" the books to maintain it's power and protect the "Private International Bankers, Private Markets and Corporations.
- The Private Federal Reserve needs $1.5 Billion dollars per day of foreign capital to stay afloat.
- The Private Federal Reserve and special dealers are buying the stock markets, equity markets, bond markets, printing digital fiat paper, special use instrutments, swaps, round trip trades, refis' and derivatives by the Billions because the foreign capital is not coming into the US Markets fast enough.
- The Private Federal Reserve, IMF, ESF, BIS are buying dollars and paper gold to surpress gold and support the worthless dollar and support the bankers bottom line profits.
- Record high US foreclosures in housing and credit cards.
- Record high US defaults on auto loans and credit card debts.
- After 13 "cuts" of interest rates in the U.S. as determined by the Private Federal Reserve are now at 1% making the real interest rate , adjusted for inflation, is actually a negative1.3%. Which makes ALL SAVINGS a lost to the savers.
- False Bubbbles in the markets a busting as corporations are devoid of pricing power and profits.
- There are over $140 Trillion in known outstanding derivatives and climbing. (there is NOT that many dollars in the world to cover them people - take the hint from them)
- Fredy Mac and Fannie May are on the edge because of "COOKING THE BOOKS" with low rates, derivatives and swaps.
- Government, Corporate and Private Pensions are underfunded because of "COOKING THE BOOKS" for "Bottom Line" reporting for non-existant profits.
- California is on the verge of bankruptcy and other states to follow.
- Total government obligations amount to $44 trillion plus and climbing.
- The U.S. trade deficit will probably reach 450 billion plus this year. But the hidden Bush war budget may break that to the upside.
- Unemployment is at 6.4% and climbing.
- The US exports dollars as the world's reserve currency and will bring down the worlds fincial system when it crashes.
- Because of the "International Bankers" and CFRs dream of world power; congress passed GATT and NAFTA, causing the exporting of US jobs and manufactoring to other countries and importing of cheap products and labor to make the standard of living in the USA conform to that of a 3rd world country to support the CFRs "PNAC" and "Pax-America" and support the "International Bankers and "International Corporations" dream of "Globalization"
- United States Government is killing the US Constitution with the Patriot Acts, Homeland Security, Secret Courts and blocking the "peoples" need to know by classifiing public documents as Secret and refusing "Redress" to the "People" under the Constitution.
- The US Courts has become "political" and useless under International Law" for the Natural Rights of the People in America.
- It seems that the "International Bankers quest for "Globalisation" is failing because of the unsound dollar, and the UN's quest as a "One World Ruler" is failing because of the "Empire Building" of Bush.
- The "Project for the New American Century" time line is still unknown.
- The Bush/CFRs quest to eliminate the US boarders and make the "Pax-America" a reality is still on track for 2005 according to Cheney.. But will Mexico, Central America, South America and Canada go along ?
- Bush's quest to save the dollar from the "Euro", steal Iraqi oil and for a "ONE WORLD EMPIRE" will bring the world against the people of the United States and a "DEPRESSION" like the world has never seen. Because the American people can't even grow their own food or make their own necessities. This will bring full Martial Law to the US. The Executive Orders are in place to control evey person and thing in the US. When the government "outlaws" the 2nd Amendment be ready.
- Bush's quest has real unfinished problems in Iraq and no oil in quantity will be coming out for years, even the stealing of the Iraqis bank accounts and other resourses won't help in Bush's quest.
- It is said that 61% of the people with the right to vote feel that the government officals is not worth voting for and don't vote. In the last election 39% voted, 19.5% voted democratic and 19.5% voted republican and the court appointed the president not the "Electors". Considering that 35 million are either working for the government or getting payments for social security or pensions it seems to equal out that most people that vote expect payment in return.
- Waiting for the "fat lady" to sing !
WHERE WE ARE NOW
Just a note for the stories below:
1) The present worth of all Gold ever mined !140.000 tonnes of Gold x 10.000 $/Kg = 1.4 trillion dollars ! (1 tonne =1.000 Kg) Today about 30,000 of these tonnes are believed to be held by various central banks around the world, but I'll use all the gold mined not to give you a heart attack.
2) US national debt is (officially) 6 Trillion (unfocially $14 Trillion) or 4 (officially or 10 unofficially) times the present worth of all the Gold ever mined ! - Silver Derivatives = More Physical Silver then traded on the COMEX Markets
3) Bonds outstandind = $38 Trillion
4) Gold Derivatives just at JP Morgan/Chase = over $23 Trillion
5) Interest Derivatives = $70 Trillion plus
6) Swaps, "Round trip trades" and other "off the book deals" are unknown
7) United States is out of Silver and buying on the open market to mint the "Silver Eagles"
8) Your 1950 Dollar is worth 3¢ (Federal Reserve Fiat Paper Devaluation by Inflation)
(9) In the US environment of socialist government-sponsored theft through inflation. There are more paper US Dollars in the world then can be backed by any promise of the Federal Reserve or the US Government! And will probably be DEVALUED at least 40% (or as much as 90%) when the NEW COLORED NWO BILLS are changed over in 2003.
10)" As of 2001, the accumulated entitlement obligations owed to all people (including all current workers) who have earned Social Security and Medicare benefits is $12.9 trillion for Social Security and $16.9 trillion for Medicare."
11) "Massive rescue operations, DEBT ROLL OVER, to avoid panic. Banks and insurances are propping up their share valuations for this reason. Corporate debts and a contracting economy are very dangerous for the general public's "confidence" in banks."
12) "The stage has been set for a possible sharp rise in silver prices by a substantial reduction in silver supplies in COMEX warehouses. A decade ago there were 275,000,000 troy ounces stored there, but today it is only about 100,000,000 troy ounces." (Thats only about $450 million or 20,000 - 5,000 oz contracts - the rest is worthless paper.) A decade ago there were lots of government reserves also. Now there are none."
13) "Moody's Investor Research now says the nation is in the worst credit stress since the Great Depression of the 1930s."
14) Argentina went belly up in Dec, the banks closed stealing the peoples money, (the bankers & rich/powerful will never suffer the burden; it will always be on the people that make the country) six months later, half the population are picking the trash dumps for food. The peso Argentino has devalued more than 75% since the beginning of this year, and it looks to decline further. North Korera has devalued their curriency 99%. The US Dollars has devalued 15% since Jan. Ever hear of hyperinflation ? Better look it up.
Note: In 1993, when the US went bankrupt under Clinton, Alan Green span created a dollar and credit bubble to hold the system together. Which is ready to break under JP Morgan, Citicorp, Bank America, Goldman Sachs, AIG and others holding Trillions of unbacked paper derivatives, if it pops, it will be the END of the Federal Reserve Banking Fraud and the NWO.
"The financial system will freeze up. As gold moves up the derivative bubble will collapse taking a number of major world banks with it. Banks such as JP Morgan Chase, BofA, Citicorp and Goldman Sachs. This will be an irretrievable blow to the elitist financial conspiracy and finally all their evil machinations will be laid bare for the whole world to see."
Better, be out of debt, be out of the paper markets, have food and water for a few months, cash out of the banks, physical gold & silver in hand, full tank of gas, guns and ammo.
A few reasons (IMHO) why you should be why you should be buying gold and silver to protect yourself.
Greenspan has lost control
Argentina has folded (the people have lost 70% of the value of their paper fiat money) their banks are closed, troops are in the streets.
Japan Banks are folding (50 in 2001), Japan Government is removing the insurance on the deposites of peoples money in their banks and the people are moving to gold & silver for protection.
JP MORGAN/CHASE an other major banks & US corp have cooked their books just like Enron, GE, Gobal Crossings an others and they hold over $100 TRILLION DOLLARS worth of paper derivatives, which can NEVER be covered if the
price of gold & silver goes up (rumors in the market say the loss of 1/6 of just JP Morgan/Chase derivatives will bring down the bankinng system) over $330 to $354.
What will happen - who knows?
Market Crash is a sure thing, if nothing else because of the US Debt, dollars devaluation, the Equity market crash and the Derivatives crash thats near. Paper of any type will become worthless as it has in the past just look at Argentina, markets and banks will close and the government will protect itself. How are you prepared?
Alot of his material figures are "DATED" because it was written in 2001 but the information is solid December 24, 2001, Common sence on "How To Prepare For The Stock Market Crash and Dollar Devaluation and Possible Hyperinflation".
His views above, on Gold & Silver is more patriotic then mine. To me logic says one ounce of gold or silver is = to one ounce of gold or silver. The US Coins sell at a higher premiun then other coins like the krugerand which is the same gold content. I don't believe in paying $8 to $15 dollars more for the same weight in gold, the US government offical price of gold is $42.22 and the face value means nothing.
If you check the US Mint sales price it's surely not $42.22 or $50 for a 1 ounce coin. Current "PAPER SPOT" price (as of 6-20-02) is around $323 per ounce. The "STREET PRICE" of bullion coins are selling from $330 to $379 depending on the coin & the dealers commission. And a guarantee by the United States Government, that has a unconstitutional private banking system governing the US paper fiat is no guarantee at all. As for silver, the Silver Eagle is the same thing, it's price is at a higher price then it's face value of $1 by a factor of 7. Silver SPOT of $4.87 (as of 6-20-02) STREET PRICE of silver is as follows (depending on the coin & the dealers commission) 1 oz silver rounds or Art rounds are running $5.50 to $9.50, 1 oz silver bars or Art bars are running $6.00 to $14.50, 10 oz silver bars are running $58 to $65 per bar, 100 oz silver bars are running $550 to $600 per bar, Morgan Silver Dollars are running $12 and up, Peace Dallars are running $10 and up; while Silver Eagles are STREET PRICED at $8.50 up depending on date.
The older gold coins for collector do not have the full gold content that bullion coins have so in my view they are over priced. Collector coins are for long term holding as it may take 5 to 10 years to reach parity for the buying prices on todays market.
As of 6-20-02, the Street prices on one ounce gold bullion coins
are as follows (using AJPM prices) Krugerrand = $330, American
Eagle = $336, Canadian Maple Leaf = $336, Chinese Panda = $343, Austrian Philharmonic = $337, 1 oz gold bars = $337 and the Mexican 50 Peso (1.2 oz) = $401. The above gold bullion coins are all well know, sellable and tradeable. Always try to buy low.
This interesting article was found at : http://www.sharelynx.net/temp/SIlatest.gif
Thaigold - thanks - couldn't resist snipping this one -- Sharefin, 04:57:54 03/26/02 Tue
Silver - Medium term price prediction - Ski
I have been following the evolving silver story for the past 19 years or so. Being curious about how high silver prices might go, I began making a list of major market forces that will come to bear on the future POS. The first time I did this exercise I came up with 29 approaching forces. The list has now grown to 44.
At the end of this post I will have my conclusion for the medium-term (3 to 7 year time period) POS.
Making investment predictions and projections is usually a huge waste of time because almost no-one is ever right. But on the other hand, virtually all investment buying and selling is an exercise in price prediction. We only buy when we expect a price increase and sell when anticipating a general price decrease.
No one knows the future POS. However, one can study the individual approaching forces and then make an educated guess as to its impact on the future price. Anyone can make price predictions. However, IMHO supplying the actual data that the prediction was based on is far, far more important. In the spirit of "show me the data" that my prediction is based on, see below:
1. The same PROFESSIONAL DEALERS and INSIDERS that have made so much and done so much structural damage on the downside will surely be positioned to capitalize on the upside. At the least, their personal accounts will be properly positioned. Their activities have not simply been analogous to holding a lifejacket underwater but rather to holding a helium filled balloon underwater. It not only wants to break to the surface but wants to fly to the moon.
2. In a rapifly rising price environment, the process of metal coming to market will SLOW. Why? A DELAYED SHIPMENTwill stand an excellent chance of being worth even more.
3. In a free market, the amount of metal coming to market will have to "overshoot" demand to create at least some SURPLUS. The words "silver deficit" will have to be removed from current literature. A permanent silver deficit is economically impossible in a free market.
4. The practice of "just-in-time" or zero inventory techniques will give way to the old STOCKING-UP MENTALITY for distributors and end users. Why? Survival and price protection.
5. Due to such a long period of low prices there has been a decrease in silver SUBSTITUTION RESEARCH than would otherwise have been the case.
6. Since silver cannot be created, it can only originate from 3 sources: ABOVE GORUND SUPPLIES, re-cyled silver, and mine production. Above ground supplies are apparently nearing exhaustion, leaving only two remaining sources. 3 minus 1 leaves us with only 2 future sources of silver.
7. Silver MINES open and silver mines close. More are CLOSING than opening (usually due to depletion).
8. Beause silver has been priced below its all-in production cost for so long, silver EXPLORATION has practically ceased. The net result is that there are almost no silver projects in the pipeline to activate. Rather than just re-opening shuttered mines, the industry will have to sart from ground zero exploration.
I have attended a large mining show for several years running. Gold mining projects are a "dime a dozen" but true silver projects are rare at these shows.
9. Once a discovery is made, a mining project must advance through a series of pre-production steps before the first ounce is produced. In-fill drilling, feasibility studies, permitting, project financing, infrastructure construction and the like. Because silver has been priced below its production cost for so long, DEVELOPMENT and ADVANCEMENT phases of silver projects has practically ceased.
10. Around 75% of mined silver originates from by-product base metal mining. A deepening RECESSION, particularly in manufacturing, will dampen the demand for base metals resulting in decreased overall silver production. (I have yet to see any sustained data that supports the end of the recession/depression.)
11. Any ANXIETY BASED CRISIS that comes along will boost demand. Stock market, holy war, oil shock, civil unrest, defaults, currency crisis etc. Our war on terriorism has just begun. When, where, and how will THEY strike next?
12. Higher ENERGY PRICES and OTHER PRODUCTION COSTS are here stay. The process of mining, smelting, transporting and refining require huge amounts of energy and effort. Higher production costs necessitate higher commodity costs.
13. Presently the PAPER COMMODITY PRICE is determining physical silver price. A price jolt will occur when prices begin to be set by physical availability.
14. Large quantities of silver have been LEASED into the world market. During this process, silver that is BORROWED (leased) is actuall SOLD into the physical market, depressing prices. As falling prices reverse or the supply of lease silver evaporates, this prevailing negative counterforce will end. Leasing, while the POS is rising is like holding your hand in a fire.
15. In most cases there will be a legal and/or contractual obligation to RETURN LEASED SILVER to the lenders. This force will ADD to the demand side of the equation.
16. Metal LEASE RATES have averaged near historically low levels. A sustained period of rising lease rates will increase the incentive to return borrowed metal from an ever-shrinking physical pool.
17. A huge PAPER SHORT POSITION has depressed prices. When prices begin to rise in earnest, many short sellers will switch to becoming buyers. To close out a short position, a short must deliver physical silver or buy out their contracts if so allowed.
18. A percentage of FORWARD SELLING MINERS will repay their metal loans with phsical silver thus removing those ounces from the grasp of the marketplace and increasing the shortage.
19. A percentage of UNDERWATER HEDGED INERS may slowproduction, close down, or go bankrupt. Because they will owe so much while being denied the profit from higher prices, they will have little remaining incentive to produce silver.
20. LEGAL attacks and LAWSUITS by a wide range of parties will be launched that will effectively curtail some production. Lawsuits by two or more of the following parties will be commonplace. Auditors, bankers, bullion banks, central bankers, commodity houses, counter parties, depositors, employees, government agencies, hedge funds, individuals, insurance companies, lessees, lessors, management, mining copanies, regulators, shareholders, speculators, third parties, and users.
21. When the STRONG DOLLAR falls as expected, it will take more dollars to buy the equivalent amount of silver from foreign producers.
22. When supplies are exhausted and prices skyrocket, GOVERNMENT will be expected to "do something". The usual, counerproductive answer is to interfere and regulate. In economic circles, it is a well-established fact that when anything is regulated, you get less of it.
23. The RULES that the COMEX and Commodity Futures Trading Commission (CFTC) presently operate by could be described as liberal to the exteme and have contributed to depressed metal prices. More rigid and restrictive RULE CHANGES should be anticipated.
24. In a free market, INFLATIONARY FORCES are enevenly manifest in different economic sectors. One day it's Nevada land prices. The next day it's the price of milk. The long term price of silver has gone nowhere for several years which seems to indicate that price inflation has not yet been properly priced into the commodity.
25. For eons the US GOVERNMENT has been a silver supplier. They are now apparently at the cusp of being out of supply and will how have to enter the market as buyers; an effecive double whammy for silver price.
26. During most market conditions, ASTUTE INVESTORS do not try to pick bottoms. Rather, the preferred technique is to wait until an apparent bottom can be observed before big positions are initiated. With silver fundamentals as well known as they are, you can be assured that there are huge amounts of investment money poised to enter this arena once a technical turnaround is apparent.
27. A certain percentage of investors will be attraced to silver for only one reason, BECAUSE ITS GOING UP. Like a moth attracted to light, these momentum investors will want to jump on the bandwagon.
28. Because of the INTERNET etc., the world will quickly be alerted to what is happening and why. They will want their piece of the action.
29. The total silver MARKET IS TINY. It would take perhaps $10 billion to buy all the remaining physical silver and silver mining stock in the world at today's prices.
30. Mutual funds and other institutional players are grossly underrepresented in ownership of PM socks and physical. If and when these investors simply REBALANCE their PORTFOLIOS to include silver, it will result in a tidal wave of demand for this tiny market segment.
31. Virtually every US and world citizen already has a WORKING KNOWLEDGE of what silver is. We're not talking semiconductors, megabites, export quotas, or quasars where the learning curve is extreme. When silver begins to get world attention, this residual, in-place knowledge will grease the skids for the novice participation.
32. In the coming economic environment, precious metals may be one of the few investment areas making established up-trends. Individuals, businesses, mutual funds, pension funds and hedge funds who WOULD NOT DREAM OF INVESTING IN METALS today may have few other choices.
33. Silver may be the most versatile metal of all. NEW USES are constantly being discovered in a very immense range of applications.
34. SUPERCONDUCTIVITY technology as applied to electricity transmission efficiency will increase silver demand. (On one hand this is just a repeat of "new uses" for silver being discovered. However the amount of silver that this area may use is so relatively high, that it merits ts own place on this list.)
35. Increased use in automobile battery manufacture as they evolve into ELECTRIC GAS HYBRIDS for mandated greater fuel efficiency.
36. The % of SILVER BULLS is historically low. When prices begin to rise, newsletter writers and their readership will join the party by buying.
37. The more taxes rise (the overall trend has always been up), the more people will seek ways to keep the govenment out of their pockets. Silver is one of the few remaining alternatives left in this area.
38. In a growing environment of envy & financial distress, the NON-REPORTABILITY advantages of silver will enhance its demand.
39. If a mineral is found in great abundance in the earth's crust, depletion will never be a real issue. But a silver occurrence is an extremely rare event. Therefore, every day that a silver mine is in production it is one day closer to its closing date due to REAL DEPLETION. "They ain't making any more."
40. In broad geologic terms, the deeper you go in a gold mine, the richer the ore deposit becomes. Silver is the opposite. The deeper you go in a silver mine, the lower the grade of ore. To state this PERCENTAGE DEPLETION another way, because silver deposits are found near surface, they have already been found and mined out.
41. At this point in the business cycle, there is a very high level of conidence in paper or fiat, especially the US dollar. This cycle can be expected to change. The result will be INCREASED TRANSFER OF PAPER WEALTH to PM'S.
42. There are presently no PM backed currencies in the world. Yet, the history of currency shows us that all paper currencies eventualy crash. A SILVER BACKED CURRENCY is ust a matter of time. The discussion phase has already begun in some quarters.
43. For many reasons, we have not had a pure and free market in world silver since the US began supporting the price and supply in the late 1800's. This artificial intervention is finally coming to an end.
44. In world markets, virtually all stocks and commodities go from being under priced to being overpriced and back again. There is no reason to believe that the POS will stop rising when it reaches its EQUILIBRIUM PRICE.
What forces might contribute to lower silver prices?
2. With higher prices, STERLING SILVERWARE and TABLE ITEMS will be too costly and many potential buyers will be priced out of the market.
3. Sales of silver JEWELERY that is now being sold at your local shopping mall and flea markets will practically vanish. However investment demand can be expected to take its place.
4. High prices will cause end users to attempt to MINIMIZE USAGE by any means available.
5. A RECESSION or DEPRESSION will result in less industrial silver demand. (This force may be off-set by decreased by-product mining.)
6. During a silver shortage, fewer and fewer retail outlets (coin shops) will have avaiable silver for distribution. If some potential buyers are not able to satisfy their demand, potential maximum demand will be reduced.
Comment: I seem to remember saying the same thing a few days ago, that the price of silver will exceed the price of gold [for a window of time] . . . . friends just contemplate that scenario for a moment.
other nominations for the list Solomon Weaver (03/27/02; 21:27:15MT - usagold.com msg#: 72267) - http://www.usagold.com/cpmforum/archives/2720023/default.html
45. Silver along with many other commodities has experienced a long hard period. As the world returns to understanding bricks and mortar....
46. Warren Buffet, Bill Gates, George Soros, all Icons of investment community are all related here.
47. Once silver makes serious moves, Berkshire Hathway will have to mention it's impact on their quarterly performance.
48. Most of the silver short interest is concentrated in 4 banks....which can all collapse just like Enron.
49. 1 billion Americans, Europeans, Japanese, and affluent earthlings have stripped 5 billion ounces of silver out of inventory and put it into modern toys and necessities during the last 50 years. Now, another 4-5 billion folks are lining up to get modernized.
50. Contrary to modern pundit opinion, the use of digital photography has not reduced the use of silver in standard photos.
51. The modern mining industry could face serious problems when the copper and zinc mines which have higher silver content start to "increase" silver production, and create very large excesses of copper and zinc.
52. Certain countries such as Argentina who have suffered under a strong dollar could place very large taxes on gold and silver export.
53. Silver junk coins, which have commonly traded just about at melt value may become depleted enough that they carry a permanent "premium" over melt value...holding any residual coins off the "scrap heap" and putting them in the pockets of investors.
54. There is a precedent in the early 80s for gold $800 and silver $50...Adjusted for inflation it is easy for any half-baked analyst to predict gold at $1000 and silver over $60.
55. At $5 OZ, silver is not a very good store of value..very heavy...but at $50 OZ a pound bar is pretty nice.
56. Silver sells at a 5000 year inflation adjusted low today.
57. If gold goes to $500, a lot of jewelry buyers will switch their tastes to silver items.
"The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the
shabby secret of the welfare statists' tirades against gold. Deficit
spending is simply a scheme for the confiscation of wealth. Gold
stands in the way of this insidious process. ***It stands as a
protector of property rights.***" --Alan Greenspan ~1967
General Grading Standards for U.S. Coins
*Good (G) - Coin will be heavily worn, but the main design and legend will be visible. Lettering may be worn smooth. May be dull or faded areas.
*Very Good (VG) - Still well worn but more of the rim will be evident. Design and legend will be clear but worn flat. Lacks specific details.
*Fine (F) - Medium to heavy wear but even overall. The design
becomes clearer and details begin to appear. Some letters within the design will be apparent.
*Very Fine (VF) - A visibly nicer coin. High spots will show light, even wear. Various major features are visible. Lettering is all readable.
*Extra Fine (XF) - Slight wear will show on the highest points of the main devices. Words are sharp and easily readable. All details are clearly defined.
**AU 50 - Slight traces of wear on the highest points of the coin; may be dull with some evidence of luster under any toning.
**AU 53 - Just slightly better than an AU 50 with a little more luster visible. Eye appeal begins to make a difference between the AU grades.
**AU 55 - An obviously nicer coin than an AU 50 with no major difficulties. More luster shines through the surfaces.
**AU 58 - This is often times called a slider as it will appear to many observers to be uncirculated. Just the faintest wear on the highest points of the coin. Luster should be quite evident, although some toning can be apparent. Usually coins with poor eye appeal will not make the AU 58 grade.
***MS 60 - Mint State indicates a coin that has no wear and is uncirculated. It may have numerous bagmarks and/or be toned. MS 60 is the lowest quality of an uncirculated coin.
***MS 61 - An uncirculated coin that is just slightly better than MS 60. However, no question that it is uncirculated. Whereas, some may debate over the merits of a coin being MS60 because of the excessive bagmarks, the MS61 should be more desirable.
***MS 62 - This coin should be a much cleaner specimen than an MS 60, yet, just slightly better than an MS 61. There should be fewer bagmarks as the coin takes on more attractive features.
***MS 63 - This is the grade that many collectors feel is the most collectible in numismatics. Prices are typically reasonable compared to higher grades and the coin should have at least an average strike and eye appeal, with minimal distracting marks.
***MS 64 - This is the grade where prices in many series begin to increase dramatically. For this reason the coin will begin to show fewer marks and the strike will be the strongest yet. No primary distractions that will draw your eye. A near-gem coin with just a few tiny marks or weakness in strike to keep it from a higher grade.
***MS 65 - This is the gem category. Coin should be fully struck with eye appeal. Either brilliant or toned but there should not be any unsightly marks or color that negates eye appeal. Any marks should be very minor in appearance. Prices spread out even further.
***MS 66 - A coin that just jumps out at you as being nicer than an MS 65. The main devices on either side should have no more than very minor ticks and the fields should be cleaner than that of an MS 65.
***MS 67 - A superior coin that has no major distractions to speak of. The fields should be near flawless with just the slightest contact on the main device. This coin should emit a look of satisfaction from the viewer. Prices increase further especially for coins with short supplies and strong demand.
***MS 68 - A difficult grade to determine by most experts. When does a coin become MS 68 but is not quite MS69 or 70? A very superior coin with maybe just a minor tick on either side keeping it from perfection.
***MS 69 - This is a coin that should create a gasp when viewed. There should be no imperfections to the naked eye. With a magnifying glass a minor mark or impediment may be visible.
***MS 70 - A perfect coin with no imperfections seen with a magnifying glass. There should be no marks whatsoever; the coin must look like it just left the Mint. Very unusual in early coins as the mint did not have the quality they do today. Modern coins have been given this exalted grade although there is debate whether coins can be perfect.
As we proceed to higher grades, there should be a noticeable difference in each grade and an improvement in quality, strike, and eye appeal. However, since grading is subjective, it will still be difficult for most numismatists to see a distinct difference from one grade to the next. This is especially so in grades of MS67 and higher. Any kind of damage or cleaning will downgrade the potential value of a coin.
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