ZH article. http://www.zerohedge.com/news/2016-03-03/its-official-moment-canada-has-no-gold-reserves-left
If I read the article correctly the last 77 ounces were sold off after 29 Feb 2016. I assume that this fiat will be kept in reserve. I think it is a dumb decision.
No need of gold after the big reset that makes Canada part of the new North American currency union. :|
And now this from SD: Could China be holding peak gold? http://www.silverdoctors.com/gold/gold-news/china-saw-this-coming-bill-holter/#more-64114
China has less gold reserves than Italy, France , let alone the bigger players like Germany, the US or the IMF. It's amazing how often this BS about China is touted. The other great chunk of BS is that the 8000 tons of US gold reserves have 'vanished' without *any* solid evidence. I find the sources that wish to promote conspiratorial myths (not the posters here but the media sources from which these fanasies originate) quite interesting as a phenomena in how authoritarian regimes may disseminate propaganda and how even quite reasonable people can believe utter BS . ""Make the lie big, make it simple, keep saying it, and eventually they will believe it." E.g. "China has secretly acquired the worlds biggest state gold reserve" The people who make and propagate these statements surely may think that those who believe them are idiots on occasion. It is more of interest as to why they propagate particular fantasies and what effect they hope them to have. On the low end it is marketing to sell PMs based on nonsense. "Make the lie big, make it simple, keep saying it, and eventually they will believe it." https://en.wikipedia.org/wiki/Big_lie http://forums.silverstackers.com/to...s-being-fooled-about-chinese-gold-demand.html http://forums.silverstackers.com/topic-64111-did-china-just-announce-30000-tonnes-of-gold.html
Went to the ANA Dallas show this week. One seller had a display case full of NGC slabbed "Bank Of Canada Hoard" $10 gold coins from an earlier selloff, and was advertising them as Canadian gold reserve coins
Just to be clear, were these the 1912-14 Gold Canadian 10-Dollar coins? Or the (far more plentiful) US 10-Dollar Eagles? According to the Standard Catalogue, the 1912/13/14 Canadian Gold 10-Dollars coins each weighed 16.7185g and were 0.900 Fine Gold (AGW: 15.047g). Source: numicanada.com
Name rings a bell. I hit pretty much every table, did the whole show in about 3 hours probably twice over. Was a much smaller show than I anticipated. Used to FUN show and ANA Chicago sized shows. Very little bullion - Provident/Elemetal were on hand, APMEX just had a buying table, almost everything else was historic numismatic or paper. To be honest I was expecting more as it was an ANA event. Much smaller than either FUN or summer ANA. Bought a dirt cheap Parthian drachm for the collection, and a handful of common Indian Head pennies to keep the kids interested. Surprisingly saw more than a few 1938 Australian crowns about, but I've lost track of what they are worth. Asking prices were between $130 and $400 AUD. The coins I really like (Anglo hammered and silver ancients) were very expensive compared to what I saw in Germany at the Berlin show. Athenean owl tetradrachms that go for under $800 in Europe have an extra 1 or 2 in front of the price at US show. If I see another stabbed Morgan dollar this year my eyes will just glaze over.
Due to the lower PM prices (and the resulting lower public interest in PM's- sheep love to buy when prices rising fast, not staying low), general turn out by the public at coin shows has been crappy compared to past years. I can only personally comment on ones I've sold at (local), but I have a couple dealer friends who went to the Florida Fun show recently and said the turn out was bad compared to past years. However, one mentioned that he picked up lots of "stock" for his store quite cheaply compared to past years. I am talking less than average wholesale on generic rounds/bars, etc. I am only for sure doing one local show this year (3 day show). They take a lot of time and prep (when it is not your main "job") and if prices are still low will probably mean low public turn out. Jim
