Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Gold Coin Sales up 130% Year-Over-Year

Details

  • Description

    Coinweek.com’s David Lisot on continued growth in gold-coin sales.

  • Duration 3:40
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

It says gold coin sales booming up more than a 130%.

Since president Obama's reelection.

Why buy coins point weak dot com's David -- joins us now from Dallas David welcome the program good -- -- -- I think -- -- delighted to be here now which goal I mean if can go out and buy Canadian gold -- -- Chinese gold -- -- American -- going to fight.

What what most people -- the one ounce gold corn which is it.

Well in America people primarily -- prefer the American gold Eagles made by the United States it's Americans behind it.

It's it's made in one ounce and also in different denominations you can get half ounce.

Quarter ounce of ten pounds so most people here prefer the American -- legal about a worldwide there's a lot of things to choose from so there's quite a bit of choices for many other countries.

Why is demand at all so much in November -- it's up a hundred and study -- -- sales up a 130%.

Over the November of last year why is that and why police tell -- With all Latin demand and -- sales why isn't the price of gold itself bullion up more strongly.

Well gold is up.

Right now you've got gold in demand because they've just brought in -- another.

-- more -- liberal administration.

Who as having trouble with a spending problem in this country M.

The analogy is that gold is actually kept its buying power the U kids you could buy a.

I want to put -- children for a second because I I I demand the truth media and on I think -- truth fifties.

A lot of people buy gold -- -- -- because they want to avoid the estate tax.

A lot of people are gonna buy those gold coins and when they passed away.

They will pass them along unknown to the IRS to that a state -- bury him in the back yard they'll do something with a to conceal the ownership of gold.

Am -- right -- my right.

Well there's no question you've touched on one of the assets of owning gold one of the good point seven.

It is something that is -- -- private transaction you can have them you can take him anywhere in the world and transact and you don't need -- government to approve it.

So yes I'm sure a certain percentage of gold purchases are.

For estate reasons to doubt that's like anything -- people are going to to do -- -- things with her gold.

It is just one of the options that is available.

-- -- am I also right in saying that but a family -- proportion of the sales of individual one ounce gold coins are done with cash it is a cash.

On traceable connection that true.

They're actually through the Patriot Act and cash reporting laws there are some are reasonable checks and balances for that.

The threshold is pretty much 101000 dollars if you spend more than that in cash then there will be reporting triggered.

If you have discretionary funds up to that amount you can buy it in just buy it without having it reported.

If you spend more than that yes there are reporting laws.

But it is one of the last bastions of free enterprise you have you have money that is actually worth what it is and again it doesn't require.

An external financials resource or governing body to.

To account for David -- so with thank you very much for joining us is a very interesting subject.

Pennsylvania appreciate it.

Well next time we'll come we'll tell you about a million dollar gold -- Yes you well you'll be back -- -- should he tell you see you soon.

Load More