The Chinese and Indians have been making investment grade (22k & 24k) Gold jewellery for ages .... the gubbermint doesn't dare take their wives Gold jewellery.
Making Your Own Coinage.
- Thread starter hyderconsulting
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I had a Indian customer in my refining days who bought fine gold and made 22kt bangle bracelets which were carefully sized to contain 1 troy oz of fine gold. He sold them to Indian tourists who could safely take them back to India, no questions asked. He told me if you were caught getting off a plane in India with a few ounces of gold coins, you were in trouble but your wife could have an arm full of gold bangles, no problem, have a nice day!
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So a $20 Gold Eagle, US coin, is only worth $20 in fiat currency?
I would guess that numismatically and as collector the value is "considerably" higher, but if you in your ignorance,
go into a shop to buy something the face value is what counts?
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I have seen advertisements on the boob tube, for coins, with a face dollar value, that are not manufactured by a US mint. They do not have a "copy" stamp engraved. Also the disclaimer " Not affiliated with any US mint". Just wondering how this is done, and how hard it would be to get the proper permits for the small guy. I'm too lazy to do the research, but if anyone knows, please post.
Don't know the legality of coining but when you're ready this is available.
And if you don't have the capacity to make enough Gold and Silver in your facility, this is available too.
Just to give you an idea of how hot the market can be for custom Silver coinage/bars when you have a big social media network; ..... the WallStreetSilver group on Reddit sold many thousands of 1 ounce coins to members of the group ..... if i remember correctly, they sold around 50,000 one ouncers.
Several years ago a YouTuber tried to spend U.S. Silver Eagles in retail locations and later tried with a $50 Gold Eagle. None of the stores would take them with most claiming they were fake or not real U.S. money. Later the same thing was tried in Canada with basically the same results but one guy did offer to trade “real” money for the fake Canadian coins.
A lot of medium sized refiners are "minting" their own gold and silver bars. The bars are sold for a premium per ounce over spot and most agree to buy them back for a lesser price. If you know and trust the refiner it can be a good situation. As the degree of recognition of the refiner goes up, usually the premium does too. The pinnacle being the status RCM (The Royal Canadian Mint) has in the industry which gives it, and others, worldwide recognition. With the influx of less costly Chinese casting equipment, more refiners are making their own bars.
Holy moly, a whole mint equipment with dies and stuff....I wonder what would be the price for the entire equipment. Some very interesting dies, half dollars, eagle, buffalos, and so on... could crash the market with equipment like this and cheap silver. Amazing how stuff like this can be available...
)kurtak
Well-known member
I have posted in great detail on page 2 of this thread the legality of coining
There is a BIG difference in minting coins & minting bullion (whether rounds or bars)
Under the U. S. constitution ONLY the U. S. government (through law passed by congress) can authorize the minting of coins - anyone else (not authorized by congressional law) that stamps out (mints) a coin is guilty of counterfeiting
In the world of "minting" (stamping out rounds &/or bars) what makes a round or bar a coin - rather then bullion - is if you stamp the round or bar with a U. S. monetary value on it (details posted on page 2 this thread)
There is an exception to this - you can mint "copies" of coins - BUT - in this case you MUST also stamp on it the word "copy" or "not real money" --- I have seen such copies of coins where the word copy was so small you could barely see it without a magnifying glass (almost bought them until I looked them over with my 10X loop)
If it (bar or round) has no U. S. monetary value stamped on it then it is not a coin - rather it is a bullion round (or bar) even if it looks exactly like a U. S. coin (but has no monetary value stamped on it)
So you can "mint" (stamp out) all the bullion (rounds or bars) you want without government authorization you just can't stamp it with a monetary value
When minting bullion you just need to be sure the fineness (purty) you stamp on it is true or you may be found guilty of fraud
Also - in 1985 - congress passed the bullion coin act - they are both bullion with the fineness of the metal stamped on them as well as a coin with the U. S. monetary value stamped on them - so - because they are a coin (as well as bullion) they can only be minted by a government authorized mint - anyone else minting them would/could be found guilty of counterfeiting (as well likely fraud)
This is the short version of the information I posted on page 2 about the difference between minting coin(s) & minting bullion
Kurt
Very common way to import gold. You just buy rectangular bullion and pay a jeweler to roll it out and then just add a bit of curvature to it. Once it makes it to India, it is refashioned into Bridal dowry jewelry by the jewelers.
kurtak
Well-known member
Are you sure what they are selling is actually coins & not bullion rounds
Bullion rounds can look exactly like a coin - BUT - have no monetary value stamped on them
If they in fact have monetary value stamped on them then they are a coin (& not bullion) in which case they ether -----------
1) bought them from a government authorized mint for re-sale
2) have government authorization to do the minting of coins
The laws on coining (minting coins) are very strict & WELL defined - first in the constitution & then acts of congress as authorized by the constitution
In fact - not even the states can mint coins - ALL coining MUST be authorized by the federal government - through congress - ANY & ALL other minting of coins is a criminal act of counterfeiting (as well as likely fraud)
There is a difference between minting coins & minting bullion
Read what I post in my last reply to 4metals as will as the thing I posted on page 3 this thread
Kurt
Good idea. If you can find a barristers imbossing press,you can have dies with your design made cheaply and with thin annealed gold,you may have success. That press is also used to emboss legal seals.
rickbb
Well-known member
Wonder how many tons the press would have to be to stamp a "coin" image. This guy is doing it with a sledgehammer. He will custom make the dies for you as well. Of course, you have to have a round first and how would you make a round that is exactly 1 ozt. and would fit in the tooling?
rickbb
Well-known member
Guess that rules out my 5-ton bearing press. lol
You are correct ..... they are just "rounds" ..... i wasn't acutely aware of the difference.
A good example of a successful home-made coinage/rounds/bar maker can be seen at the "Backyard Bullion" youtube channel ..... the guy has been pouring his own bars/rounds for years ... has around 55k subscribers to his channel ... his custom rounds/bars sell out quickly......
https://www.youtube.com/@BackyardBullion/videos
The key seems to be building up the youtube channel and building a trust with your audience .....
* trust that your not a scammer,
* trust that your there to help people,
* trust that your rounds/bars are legit weights & measures,
* trust that you ship promptly,
Once you get to a certain level of subscribers, and you have the right content & products; momentum principles seems to kick in.
Of course ..... it would help greatly if you had basic/good video editing skills ..... i'm sure there are many talented refiners out there who could make their own very nice rounds/bars ..... but many probably lack the video production/editing skills required for running a decent youtube channel.
https://www.youtube.com/@BackyardBullion/videos
The key seems to be building up the youtube channel and building a trust with your audience .....
* trust that your not a scammer,
* trust that your there to help people,
* trust that your rounds/bars are legit weights & measures,
* trust that you ship promptly,
Once you get to a certain level of subscribers, and you have the right content & products; momentum principles seems to kick in.
Of course ..... it would help greatly if you had basic/good video editing skills ..... i'm sure there are many talented refiners out there who could make their own very nice rounds/bars ..... but many probably lack the video production/editing skills required for running a decent youtube channel.
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