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Rare Coin, Bullion & Paper Money News this week Feb 11

How People Are Finding Buried Treasure

KOMO 4 News – Fisher Interactive Network ……
2 11 komo4 Rare Coin, Bullion & Paper Money News this week Feb 11Haven’t we all seen that guy on the beach or in the park — with his socks pulled high and headphones on, swinging a funny contraption over the ground — and thought to ourselves, “that guy won’t find anything! What a waste of time!” Well, maybe we’ve got it wrong. On January 16th of this year, an avid local prospector came across a 12-pound (177 t/oz.) gold nugget in Ballarat, Australia, resting two feet underground. The exact location remains a mystery, but we do know he was using a Minelab GPX-5000 detector that costs about $6,000.Read more >>>>

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U.S. gold bars and coins find new home overseas on Asian demand

By Frank Tang
NEW YORK, Feb 11 (Reuters) – Booming demand for gold as a store of wealth among Asian investors is driving physical gold bars and coins out of the United States and into Asia. A growing number of gold vaults for affluent Asians and new precious metals investment products, particularly exchange-traded funds, have led to an exodus of gold owned privately from the United States into emerging economic powers such as China. On Friday, Commerce Department data showed U.S. exports of nonmonetary gold, which excludes central bank transactions, soared by 43 percent to $4 billion in December from the previous month. Read more >>>>

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Central banks last year bought most gold since ’64

By William L. Watts – Marketwatch
bank of switzerland 275x185 Rare Coin, Bullion & Paper Money News this week Feb 11FRANKFURT (MarketWatch) — The world’s central banks last year bought 534.6 tons of gold in 2012, the most since 1964, as global gold demand hit a record value level, the World Gold Council said Thursday in a quarterly report. Purchases by central banks for the full year rose 17% compared with 2011, while fourth-quarter purchases of 145 tons marked a 29% rise from the same period a year earlier. “Central banks’ move from net sellers of gold to net buyers that we have seen in recent years has continued apace,” with official sector purchases across the world now at their highest level for almost half a century, said Marcus Grubb, managing director for investment at the World Gold Council .   Read more >>>>

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