5 things you never want to do with Gold and Silver.

Gold and Silver may last forever, but coins, bars, rounds and jewelry require special care to preserve their value. Here are a few things you never want to do.

  • Don’t touch or talk over a coin: Fingerprints can be almost impossible to remove so be sure to always wear gloves, preferably made of soft cotton, when you handle coins. And don’t talk in a coin’s direction. Subtle, indiscernible drops of saliva can land on a coin and turn into smudge marks over time.
  • Don’t take a certified coin out of its slab: Grading services like PCGS and NGC seal coins in tamper-evident slabs to protect them and certify their authenticity and condition. Once the seal is broken, the certification is lost and the value of the coin is reduced.
  • Don’t try to authenticate a product yourself: We’ve seen coins, rounds and bars lose value when people drill into or pour chemicals on them. Always ask a professional to help you authenticate. Or better yet, buy from a reputable dealer whose products need no authentication.
  • Don’t clean your coins: Improper cleaning can turn a rare, valuable coin into a $25 Silver ingot. Collectors prefer coins that show the deep coloration of age over those whose surfaces have been stripped away.
  • Don’t swim wearing Gold jewelry: Chlorine breaks down the alloys in 14K and 18K Gold jewelry, weakening prongs and ring shanks. Chlorine bleach can destroy 14K Gold in 24 hours. The 24K Gold found in most APMEX products is impervious to almost every chemical, but is generally too soft and pliable for everyday jewelry.

Do you have any ideas for protecting your Gold and Silver? Share them in the comments section below.

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Oklahomans can Buy Gold and Silver Coins and Bars without Paying Sales Tax!

Law exempts Precious Metals purchases if they are stored in a non-bank depository, like APMEX owned subsidiary Citadel Global Depository

OKLAHOMA CITY, Dec. 5, 2012– According to a recent law enacted by the Oklahoma Legislature, residents of Oklahoma can purchase Gold and Silver coins, bars and rounds from Oklahoma Precious Metal dealers without paying any sales taxes on that purchase. In order to comply with this law, the Precious Metal products must be stored in a non-bank depository for safekeeping. The bill specifically does not apply to the purchase of Gold or Silver items used as jewelry or for artistic or ornamental use. House Bill 3166 passed the 2010 Oklahoma Legislature with bi-partisan support and was signed into law by the governor. The intent of the bill was to help Oklahomans buy Precious Metals as they do other investments, without any sales taxes being levied on the purchase.

“We were very pleased to see that the Oklahoma Legislature passed this important measure that leveled the playing field for Oklahoma investors. Now investors don’t have to buy their Precious Metal products from out-of-state dealers, nor are they subjected to paying more than eight percent of sales tax on an investment-type asset, “said Michael Haynes, CEO of APMEX, Inc., of Oklahoma City (www.APMEX.com). APMEX is one of the nation’s largest online Precious Metals dealers. “In order to help Oklahomans comply with this law, APMEX has created a wholly-owned subsidiary called Citadel Global Depository Services, Inc., (www.cgdsi.com) which secures storage services from one of the most trusted names in the storage of valuable assets,” Haynes concluded.

“Citadel was created to help investors safely and securely store their Precious Metal products in a high security location. Through our exclusive arrangement with one of the oldest names in the transportation and storage of Precious Metals, we can provide safe, secure and economical storage for all Oklahoma investors,” Citadel President Mike Garofalo said. Storage costs are the same for all customers at just .55 percent (55 basis points) per year. So they pay slightly more than one half of one percent a year for insured allocated storage as opposed to a one-time 8.25 percent Oklahoma Sales Tax. Garofalo also added, “Citadel customers have online access to their holdings 24/7, and the value of their holdings is updated daily. That way you always know what your Gold and Silver products are worth, whether you own $1,000 or $10 million worth of Precious Metals.”

About APMEX, Inc.

APMEX Inc., one of the largest online retailers of Gold, Silver and other Precious Metals products, offers one of the world’s largest retail selections including all U.S. Mint bullion such as Gold, Silver and Platinum American Eagle coins. APMEX also sells all types of Royal Canadian Mint products, including Gold, Silver, Platinum and Palladium Maple Leaf coins, as well as South African Gold Krugerrand coins. APMEX is also a member of the American Numismatic Association, the International Precious Metals Institute and the Industry Council for Tangible Assets. For additional information, visit www.APMEX.com or call (800) 375-9006.

About Citadel Global Depository Services, Inc.

Citadel provides storage services for Precious Metal buyers worldwide. Located in Oklahoma City, Citadel’s services and benefits can be viewed online at their website www.cgdsi.com. With highly competitive storage rates, very low minimums, 24/7 access to viewing your holdings and an exclusive arrangement with a global leader in security, Citadel provides an unparalleled storage option. A Citadel account may be opened without any obligation until product is deposited for safekeeping.

Contact: Michael Garofalo APMEX, Inc., (405) 595-2100 X 114, Michael.Garofalo@APMEX.com

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Weekly Gold and Silver Market Recap for May 4, 2012

by John Foster. Email John.

Manufacturing Jobs?:

After a rough week Gold looks to at least close the week on an uptick.  The release of April’s employment report by Automatic Data Processing Inc. report showed that the economy added 119,000 jobs in April, while economists had anticipated the addition of 160,000 jobs. The unemployment rate fell by one-tenth of a percent, to 8.1 percent, but that was attributed completely to people who gave up searching for jobs. Stock futures fell after the report was released.  Manufacturing index numbers beat initial estimates in a report this week, climbing to 54.8 percent for the month of April. This exceeded even the most optimistic estimates. Manufacturing “continues to be a bright spot in the recovery,” said Ellen Zentner, a senior U.S. economist at Nomura Securities International Inc. in New York. “We have yet to see a drop-off in foreign demand for U.S. manufactured goods, and that comes despite all the concerns of a slowdown in the global economy.” Continue reading

What is Coin Grading?

Questions about buying MS 70 coins? Email Tim Oakes.

2012-W 1 oz Gold Buffalo PR-70 PCGS First Strike (Black Diamond)While perusing APMEX.com, you might have come across a graded coin. These graded coins are priced at a premium compared to a similar product that is not graded, as is the case with this MS-69 2012 1 oz Gold American Eagle when compared to a 2012 1 oz Gold American Eagle. Why is the graded coin being sold at a premium? And how is it different? First, you should understand what grading means. Coin grading is the process of determining the condition of a coin by taking into account several criteria such as the strike, surface preservation, luster, coloration and eye appeal. There are two prevalent coin grading services: PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation). The grading range used by both services ranges from 1 to 70, with 70 being “As struck, with full strike.” A grade of 70 is considered “perfect.”

A coin that is graded MS-70 by PCGS or MS-70 by the NGC has no imperfections.  NGC is the official grading service of the American Numismatic Association and, according to its website, has graded more than 20 million coins since 1987. When you buy a graded coin from APMEX, the coin will be shipped to you in a tamper-evident plastic case called a slab. Once the coin is removed from the slab for any reason and resubmitted, there is no guarantee that the coin will receive the same grade that was previously assigned.

While grading in some cases can have a positive effect on the value of the coin, it is not necessary to have a portfolio comprised entirely of graded coins. Buying a graded coin does involve costs, and sometimes you want a coin just because it appeals to your eye. To buy a Perfect-70 coin from APMEX, go here.

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