Combating Counterfeit Gold & Silver Threats (While Enhancing Value) | RCM CEO & Bullion Director

The US is finally playing catch-up with anti-counterfeiting technology. That, a double-header interview, and more in this week’s Metals & Markets…

by James Anderson of SD Bullion

Before you scroll any further, make sure you have entered our free contest to visit the Royal Canadian Mint. Ok, scroll on and enjoy the brief virtual tour clip below.

A solid week of price action turned in by all four major precious metals.

The price of silver appears to be ending the week just above the $18 fiat Fed note per troy oz mark, rising over 50¢ (cupro-nickel cents) from last week’s close.

Gold finds a weekly end to its spot gold price right around $1,505 oz.

Platinum rebounded well from recent downturns, the spot platinum price looks to be closing around $925 oz. Still, historical low in terms of it’s over 100-year price relation to gold. Read Platinum vs Gold Prices to learn more on that point.

Palladium keeps finding fresh record palladium price highs in fiat Fed notes. The spot palladium price is ending around $1,785 oz as physical palladium supplies are increasingly scarce and palladium lease rates are again climbing.

It was only just over one year ago in which we pointed out on this bullion podcast that palladium was the most bullish of the four major precious metals (H/t to Dave Jensen).

The gold-silver ratio slipped to 83 to close the week.

In this podcast episode, we have a rare two-part Government Bullion Mint interview to dive into.

SD Bullion is running a free contest through November 20, 2019… where you can win a complimentary trip to see the Royal Canadian Mint’s bullion production first hand with a friend or loved one.

As the sponsor of this podcast, we at SD Bullion are throwing a VIP Tour Sweepstakes for one lucky winner and their guest to go up to Ottawa, Canada and visit the Royal Canadian Mint first hand.

To kick off this contest, this week’s podcast guests will be the CEO and Managing Director of the Bullion department for the Royal Canadian Mint.

Before we dig into those interviews, a couple of industry-related news items for you, the listeners.

This past Wednesday, the private NY Federal Reserve central bank announced that it is increasing its {temporary} overnight repo operations up to $120 billion a day from its original up to $75 billion per night commitment.

A couple of questions came to my mind. They might be coming to yours too.

Is this word [temporary] like when Nixon divorced the final gold ties from the now full fiat Federal Reserve note? (look back at this liar)

Are overnight repo loans of 100 billion per evening a new feature in our financial system?

Does this current repo loan expansion bolster further faith in our financial markets?

Does it instill yet more faith in our fiat reserve currency’s future value?

Well onward to an actual constitutional US government unit, which deserves some real applause this week.

Only 7 years after the Royal Canadian Mint added anti-counterfeit technologies to their many popular bullion products.

The US Mint, under the direction of Steve Mnuchin, has decided that by 2021, both gold and silver eagle coin backsides require redesigns which will infuse anti-counterfeit technology.

Since at least the year 2012, thousands of average would be bullion stackers, have either been fooled and defrauded by counterfeits which almost all come out of China.

The Chinese apparently still have a lax attitude with high-grade counterfeiting other nation’s legal tender and physical precious metal currencies.

It remains fairly common to see publicly traded companies in US financial markets, such as Alibaba, simply ignoring their very own company policies, neglecting to police this ongoing problem. Actively still ignoring basic international legal tender law and order.

So it’s good news because this is a real problem. So even after almost nine years since fake Silver Eagle Coins became an obvious real threat to our industry, at least the US Mint is finally taking some real action to help thwart this problem at a realistic level the Mint itself can control directly.

This decision may become Steve Mnuchin’s greatest achievement (a close second place perhaps, Mnuchin’s tequila stock rise Q1 2019).

Breaking away from sarcastic remarks, hit the video above to hear from two professionals who run the first major government bullion mint to not only take Chinese counterfeit threats seriously but also do something about by enhancing the value proposition of their popular bullion products.

Thanks for tuning into this week’s bullion-related, silver and gold podcast.



About the Author/Interviewer

James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis.

James’ twitter is @JamesHenryAnd and he has authored SD Bullion’s complementary 21st Century Gold Rush Book.