A Gold Standard? – JP Morgan’s Silver Hoard – State Sales Tax Problems?

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Links to recent informative articles on precious metals and rare coins:

 

 

Click Here to see all our NEW Morgan Silver Dollars JP Morgan, Silver Investors & More
Jim Cook Interviews Ted Butler - Cook: A lot of silver investors are frustrated these days. Can you give them any hope? ; Butler: I'd be lying if I . . . . Jim Cook (Read More)

Click Here to see all our NEW Morgan Silver Dollars 80% Of Gold Traders Are Net-Long
Spot Gold: Retail trader data shows 80.0% of traders are net-long with the ratio of traders long to short at 3.99 to 1. The number of traders . . . . Richard Snow for Markets Writer
(Read More)

Click Here to see all our NEW Morgan Silver Dollars Silver Price Hits A Six-Month Low
The sell-off on gold continues with the precious metal down around $30 in less than a week. Gold is under pressure from a resurgent US dollar . . . . Nick Cawley
(Read More)

Click Here to see all our NEW Morgan Silver Dollars India’s Household Gold Reserves Valued At Over 40% Of GDP
Factoring in the central bank’s reserves (608.8 tonnes) and an import duty of 10%, the domestic value of the gold stocks at most of the known sources in the . . . . Banikinkar Pattanayak
(Read More)

This Week’s Headlines:

Gold
Bringing Back The Gold Standard
Silver
Wayfair State Sales Tax Legislations
Recommended Investment Commitment And Diversification

 

Gold

 

During May, Gold has been locked into a $1,270 to $1,300 per ounce trading range. The strong U.S. Dollar, with the Index staying between 97 and 98, has been the key factor causing Gold to be locked into the current tight range. According to the World Gold Council, this low Gold price is giving some of the world’s largest central banks the ability to acquire record amounts of physical Gold.

On the bullish side of the Gold price, interest rates have been dropping. The 10-Year Treasury has recently traded under 2.30%. Why? Because everyone expects that the Fed will remain patient, so much so that a rate hike is not likely this year, nor is the Fed likely to cut rates unless a full-blown US-China trade and tech war emerges, posing a significant downside risk to the U.S. economy. Gold closed last Friday at $1,283, up $8 per ounce for the week.

Today: Gold continues to be stuck in a tight trading range between $1,275 and $1,280 per ounce as the markets are waiting for news on trade talks between the U.S. and China.

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Bringing Back The Gold Standard

 

The U.S. bringing back a Gold standard is an idea proposed by potential Trump appointee to the Federal Reserve Board of Governer, Judy Shelton. Mrs. Shelton recently stated “If the United States would take this first step towards linking the dollar to Gold, it would send a signal of America’s commitment to restoring the integrity of the dollar as a meaningful unit of account and reliable store of value.”

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Silver

 

Silver reached a new 2019 low last week of $14.32 per ounce. Silver closed last week at $14.53, up $0.17 per ounce for the week. The important Silver-to-Gold ratio has dropped to 88.30-to-1.

In the Gold and Silver Articles linked above, there is a very informative interview about JP Morgan’s 850-million-ounce accumulation of Silver.

This link provides an interview of Ted Butler, a leading expert of the Gold and Silver markets:

JP Morgan, Silver Investors & More
Jim Cook Interviews Ted Butler - Cook: A lot of silver investors are frustrated these days. Can you give them any hope? ; Butler: I'd be lying if I said I wasn't . . . . Jim Cook (Read More)

 

Today: Silver made another 2019 low this morning of $14.24 per ounce. As the Gold price stays in its tight trading ranges, the Silver price lacks support and continues its move down to the $14.00 per ounce support level.

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Wayfair State Sales Tax Legislations

 

In 2018, the United States Supreme Court ruled in the case of South Dakota v. Wayfair, Inc, that states may charge sales tax on purchases made from out-of-state sellers. Since that decision, many states who want the additional revenue have been passing legislation that allows them to collect state sales tax. Many internet sellers have started collecting state sales tax when the state legislation is passed. Something these internet sellers don’t know is that, although some states will charge sales tax on numismatic and bullion products in the future, these items are actually exempt from sales tax in the majority of States at present. I am proud to say that for the past thirty years I have worked with the Industry Council for Tangible Assets (ICTA) to help state legislatures to understand the importance of these exemptions. These state sales tax exemptions are different from state to state. Some require a minimum transaction level, i.e. California, of $1,500 to be sales tax exempt. If you have a question about your state’s legislation implementation or exemption, please contact me.

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Recommended Investment Commitment and Diversification

Minimum of 40% of your available investment capital

Diversification includes 50% in long term investment quality rare coins

and 50% short term bullion products, divided into

60% Gold, 30% Silver, and 10% Platinum & Palladium

 

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If you want to be updated on what is happening in the Gold, Silver, and Rare Coin markets any weekday, our company offers a daily blog Monday through Friday at www.stupplerblog.com

 

All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the Stuppler & Company’s knowledge at this time. Stuppler & Company disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions.

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