US Jobs Data Report Causes a Gold Price Skyrocket!



The price of gold skyrocketed almost $25 within a mere 15 minutes on Friday following the new US jobs data report. The report stated that non-farm payrolls had increased much less in September than many analysts had forecasted. The September jobs report also added a great amount of confusion for current and future investors about the stability of the global financial economy. The western stock markets had virtually annihilated its previously strong gains, which added even more doubt and worry to the minds of many stock market investors.

According to the jobs report, there were only 142,000 jobs created in the month of September. This is far less than analysts previously estimated. There were fewer jobs created during the months of July and August as well, which has Wall Street seeing a measly 27% chance of a Federal rate hike in December. The probability of an October rate hike is close to none.

Following this news, the US Dollar dropped one cent against the Euro on the FX market, while the price of gold rose 1.9%. This brought the price of gold to $1134 per ounce. This allowed it to recover over two-thirds of its losses earlier in the week. Silver also rose twice as fast, bringing it right above $15 per ounce.

There are two more Fed meetings that are due to take place later this year before 2016. Some expect that the Fed will vote to raise rates after seven years of the rates remaining at 0%. If this happens, stocks could see even more volatility. Even the expectation of an impending rate hike impacts the stock markets. It is this very anticipation of a Federal rate hike that has sent some markets into recent turmoil.

Even though the stock markets are indirectly affected by the Fed’s rate, it causes fear that companies will either cut back on their growth or make less of a profit as it becomes more expensive to borrow. This is what makes investors choose not to invest in them, leading to broader declines in the markets as a whole.

Further declining in the already unstable markets could wreak havoc on the economy and stock market investments. In most cases throughout history, when the value of the Dollar drops, the price of gold and other precious metals rise. Precious metals like gold and silver have always been seen as a trustworthy hedge against inflation. As stock markets around the world are experiencing a lot of shakiness and uncertainty, the prices of precious metals either hold their ground or increase.

Recently, many investors have made the decision to invest, or to shift some of their investments to gold or silver. Purchasing physical gold is a great way to combat losses and drops in stocks, which we have witnessed many of over the past few weeks. Now is a great time to invest in gold and silver. Most people that have chosen to invest in Precious Metals IRA’s have been rewarded with substantial returns on their initial investment. This is due to the fact that these assets tend to increase in value at much faster rates than stocks or mutual funds. Either way, precious metals are considered a great investment strategy that can diversify your portfolio and provide you with financial security.

Contact Capital Gold Group, Inc. today at 1(800)510-9594 or visit!

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Wisdom of a 401(k) Rollover to a Precious Metals IRA



Wisdom of a 401(k) Rollover to a Precious Metals IRA

We are often told that it is essential to invest in one’s future. Your twilight years will soon be upon you, no matter how young you think you are. The problem is, most people do not efficiently nor adequately invest in their retirement. Your 401(K) is a good start, but what happens when inflation erodes all your hard earned cash? What happens when all your savings become stagnate, and you simply do not experience any growth or worse yet, your money depreciates? This is where investing in a stable and precious metal like gold comes into play. Over the years, gold has proven itself a steadfast and profitable investment opportunity. This is one of the main reasons most Precious Metals IRA money is rolled over from 401(k)’s; it is simply a stable and dependable choice of investment.

There are several reasons as to why a Gold or Precious Metals IRA Rollover can be one of the best options for the financially astute individual. For starters, a Gold IRA is self-directed. It is in compliance with IRS regulations, and anybody can invest in it as a form of financial security. The fact that a Gold IRA includes both physical gold in addition to other types of precious metals such as silver, palladium, and platinum, shows how flexible and well-rounded this investment plan can be. Additionally, you can include other forms of gold investments you may hold; including stocks or shares in gold mining companies and Gold ETF’s.

Why Buy Gold?

The first thing you need to know is that you can choose to either buy gold in the form of coins or bars. The market has dictated that gold bars sell for a cheaper price than the coins. Most gold bars tend to be 99.99% pure gold. The fact that they cost less to produce and do not have elaborate designs as the coins means that gold bars sell for less than the coins. Coins, on the other hand, tend to contain some trace amounts of other elements such as copper and so on. This goes to increase their durability, but the purity takes a bit of a hit. For example, an American Gold Eagle would contain only 91.67% gold. It is a far cry from a single gold bar that contains 99.99%. That being said, why should one invest in gold?

It has intrinsic value.– It is one of the most stable precious metals as far as the markets are concerned

It cannot be manufactured. – Which means there is a limited supply. Demand and supply can drive up the price.

It has what can be referred to as real world uses.- Almost every electronic device has gold somewhere along its production line: cell phones, GPS systems, computers, watches and so on.

It is non-perishable.- That combined with its inherent stability in value, makes gold one of the most feasible and valuable savings plan available to ‘common man’.

Setting up a 401(k) Rollover to a Gold IRA is not as difficult as you may think.

There are companies like Capital Gold Group, Inc. that are dedicated to making your life much easier by handling everything and setting up an account for you as per your instructions. Besides the fact that it is a precious metal that continuously appreciates in value or at the very worst, remains stable, there are other reasons as to why someone would want to invest in gold.

Contact Capital Gold Group, Inc. today at 1(800)510-9594 today!

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Best Way to Buy Precious Metals in 2015



Best Way to Buy Precious Metals in 2015

Many individuals are interested in buying precious metals, but they have one question. What is the best way to buy precious metals in 2015? New precious metals investors are often overwhelmed by sales pitches, ads, and a plethora of information. Yet, they still don’t know the best way to buy gold. This article is to help investors cut straight through to the most important things to consider.

First, one important thing for precious metals investors to understand is that if you can’t hold it, you don’t own it. The only form of precious metals a person can buy that has zero counterparty risk is physical gold, physical silver, physical platinum, or physical palladium. That’s it. Most people invest in precious metals to reduce risk. So why would anyone invest in paper precious metals?

Investing in physical precious metals and hanging on to those precious metals for the long-term is the best way to buy precious metals in 2015. There’s no doubt about it. So, once an investor has decided which form of precious metals to buy, the investor must decide the best firm to buy that metal from. This decision is as important as the first.

The best way to buy precious metals in 2015 is in physical form from a reputable precious metals dealer. There are plenty of third party review sites that have feedback about the best precious metals dealers. It’s important to look at reviews with a lot of detail about the transaction. However, reviews aren’t everything. Reviews should be considered along with the age of the top precious metals company. It’s easy to avoid consumer complaints if the business is brand news.

Next, research if the precious metals firm has won any awards. A firm like Capital Gold Group, Inc. has won ward in business, finance, and advertising. A record like this should show any investor that when this firm does anything, they give it their best. This is very important to consider when you’re trusting someone with your retirement savings.

Third, make sure the gold dealer, silver dealer, or collectible coin dealer you’re researching has plenty of free precious metals educational materials. If a firm doesn’t want an investor to educate themselves, then something is wrong. Any top precious metals firm that backs up their practices with plenty of free educational materials for precious metals investors knows that the facts will back up their practices.

In conclusion, an investment in physical precious metals with a top precious metals company like Capital Gold Group, Inc. is a great choice. A Self-Directed IRA that includes precious metals will help secure your retirement funds so they’ll be there when you need them.

Protect your wealth today with a trusted precious metals firm like Capital Gold Group, Inc. It’ll be the best decision you’ve made for you and your family. Fiat currencies cannot be trusted to hold their value. Precious metals can be trusted.

Contact Capital Gold Group, Inc. at 1-800-510-9594 today!


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Inevitable Rise of Gold Prices for 2016




Any smart investor knows that the secret to growing their wealth lies in investing in assets that will appreciate over time. Precious metals, in particular, are always a good choice because they withstand fluctuations associated with stocks and other investment instruments. Gold has always been a stable investment because although it sometimes has some fluctuations, its value will always appreciate.

The value of gold can be attributed to the fact that it is a physical substance that has always been valuable since time immemorial. Before the availability of currency, gold was used as a medium of exchange. It thus means that people are more likely to have more trust in gold as opposed to other securities such as stocks. It is expected that gold prices could rise considerably in 2016, and there are good reasons for these expectations.

Why Gold Prices are Likely to Rise in 2016

Uncertainty in many parts of the world – One of the factors that are likely to push up the price of gold is the prevailing uncertainty and the talk of war in some of the world’s hot spots. The open hostilities between China and Japan are likely to have grave implications on the rest of the world if they were to lead to war. China stands accused of building on some disputed islands that Japan has been laying claim to. If the two countries choose to settle the matter through war, it can easily suck in their neighbors and lead to a much bigger conflict that can have huge ramifications across the world. A war would lead to crashing of markets and devaluation of currencies, and this would create a huge demand for gold leading to a rapid price appreciation. Global terrorism is now in people’s minds more than at any other time in history. The ability of the terrorists to strike in any part of the world has created a fear that affects investment decisions.

Loss of faith in the global financial system – The global financial system faces a test of faith due to the market crashes that keep happening. A case in point is the recent crash of the Chinese stock market that saw investors lose huge sums of money within a few hours. When such incidences occur, investors are likely to opt for solid assets such as precious metals. Gold happens to be the most sought after security because it remains fairly stable or appreciates in case of rough economic times.

The dollar loses value – The US dollar represents a currency that is acceptable in all parts of the world. Economic analysts predict that the value of the dollar may decline sharply in 2016 as a result of a slowdown in the US economy. If this happens, people will have less trust in currencies and will turn to gold for insurance. A good investor knows that in the worst case scenario where an unforeseen event occurs, people are likely to lose a lot of money held in stocks and currencies. The person with a portfolio that includes gold will not be hit as badly as the one without any precious metals.

If you want to grow your wealth, you need to be prepared for any eventuality. As it looks now, gold prices are likely to increase in 2016.

Contact Capital Gold Group, Inc. today to invest in gold and protect your wealth. Call 1(800)510-9594 or visit

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Demand for Physical Gold Up With Fears of Economic Collapse


Demand-For-GoldDemand for Physical Gold Up While Fears of Coming Economic Collapse Rife

If one is to believe the current reports coming from the U.K, it is apparent that getting a hold of physical gold is not as easy as some people might assume. This is according to Peter Hambro, the Co-founder and Chairman of Petropavlovsk. He says that it is incessantly becoming harder to satisfy the swelling demand for gold in Eurasia where people prefer physical gold.(Source: Bloomberg) Due to these circumstances, the British are importing the yellow metal just so that they can export it.(Source: Gold Seek) London has too little of the actual precious metal that their only option with the changing market demands is to import from the U.S.A and other countries with a rich supply of the precious metal.(Source: Bloomberg)

This scenario exposes the weaknesses of the virtual paper gold market that is apparently based more on promises and not actual physical delivery. There is more virtual gold floating around in commodity markets than there is actual physical gold for one to buy and hold. Due to this situation, folks are left wondering what would happen if this paper market was hit by an unfortunate occurrence like a stock market crash or even worse, a global economic collapse? It would emerge that the valuable pieces of paper representing gold are worthless, which is why people would rather hold gold bars, gold coins or any kind of gold bullion in their vaults, rather than keep paper gold that is susceptible to market changes. These fears make virtual gold seem like a big mistake for traders who want a reliable way of protecting their wealth with real assets.

In response to the supply crisis stewing in the markets, borrowing costs for gold have risen marginally in the past weeks. This is happening mainly because of large volumes of the precious metal are being delivered to Switzerland. The intention is that it will be melted and shipping to India and China where the demand for physical gold continues to rise.(Source: Silver Doctors)

The gold supply is stretched very thin and there is continued pressure from Eurasian buyers who would rather buy physical gold and not the paper promises. You might wonder why the price of gold is not rising, but this is simply because the metal is subject to virtual trading forces that are disconnected from the realities of physical gold. This is a very tricky situation for gold buyers who fear losses owed to high borrowing rates that are overshadowed by unchanging physical gold prices.

In the long run, though, it is better for people to protect their wealth with some form of physical gold whose value in not in question. If you would like to make such an investment, you can speak to a Senior Gold and Silver Specialist from Capital Gold Group. They specialize in physical precious metals and would be more than happy to explain your options. Our company is reliable and has been a trusted precious metals firm for over a decade.

Capital Gold Group, Inc will sell you real value in physical gold, as opposed to promises written on pieces of paper, whose value might just vanish with an economic crisis. With a potential economic crisis looming, it is certainly better to store your wealth in something tangible and not promises.

Contact Capital Gold Group, Inc. today at 1(800)510-9594 or visit


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Impeccable Beauty of the Gold Credit Suisse Bar



The Credit Suisse Gold Bar is well known throughout the world. In fact, it is undoubtedly one of the most popular gold bars available. Credit Suisse Gold Bars are backed by one of the most prolific and easily recognizable international brands, and are minted by the Credit Suisse Group.

The Credit Suisse Group was founded in 1856. It is a Swiss financial holdings company. Not only are they recognized for being an international banking powerhouse, but they are also now known for their production of precious metals. Currently, the Credit Suisse Group’s headquarters is located in Zurich, Switzerland. They are now one of the most influential financial institutes around.

Each Credit Suisse Gold Bar is produced in the Valcambi refinery, which is also located in Switzerland. The very first gold bars were made available to the public markets in 1979. Ever since then, their production has been non-stop. Their gold bars come in a very wide variety of sizes and are known as being the safest, most secure, and affordable way to own physical gold.

Credit Suisse Gold Bars have a very distinct look, each one being almost instantly recognizable. They are shaped like a thin rectangle with smooth rounded edges and are said to have very little “flash”. On the front of each gold bar is where you will find important information that has been stamped on. Normally this information will contain the gold content, the gold fineness, and a serial number that is the bar’s unique identifier.

At the top of the bar, you will notice a simplistic Credit Suisse logo, consisting of only the two words, CREDIT SUISSE. Below the stamped information on the old bar, you will see the French words, “ESSAYEUR FONDEUR”, which roughly translates to “assayer founder.”

On the backside of the bar is the Credit Suisse logo which goes across the bar diagonally multiple times. This is the same logo that appears on the front of the bar once at the top.

All Credit Suisse Gold Bars are guaranteed to have a fineness of .9999 (99.99% fine gold), which qualifies it as 24-karat gold. The bars come in 1000 grams, 500 grams, 250 grams, 100 grams, 50 grams, 10 grams, 5 grams, 2.5 grams, 1 gram, and various troy ounce sizes.

Fortunately, Credit Suisse Gold Bars are allowed by the IRS to be invested into IRA accounts as long as your specific IRA meets its requirements. IRAs that allow the use of precious metals bullion as an investment option in a portfolio are commonly known as “precious metals IRAs”. Precious metals IRAs are self-directed and will allow you to invest precious metals such as gold, silver, and even platinum.

Credit Suisse Gold Bars are authorized forms of bullion that are allowed by the IRA as investment options. Credit Suisse Gold will provide you with portfolio diversification that is completely independent of the fluctuations of stocks and bonds, which we have seen so much of in the recent weeks.

Credit Suisse Gold Bars also meets the minimum purity requirements in place by the Internal Revenue Code Section 408(b). As stated above, Credit Suisse Gold Bars are guaranteed to have a .9999 gold fineness, which insures they are 99.99% fine gold.


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Understand Why the Price of Silver Is About to Go Up !



Understand Why the Price of Silver Is About to Go Up !

If investing in precious metals is your ticket to getting rich, then buckle up! The price of silver is about to soar. Do you want to know why? If you are into gold and silver, and you are following the Silver Futures Market, you will notice that the gray metal is oversold. When the year opened, the open interest in silver futures was 150,000 contracts. (Open interest – is the number of futures contract that are still open or not yet delivered.)

On July 28, silver futures’ open interest increased to around 190,000, a 26.7% increase in less than seven months! Now, what happened to silver prices? They went down to more than six percent.
When open interest increases and prices decrease, this suggests that there’s a significant number of short-sellers of silver. Since there are so many of them, they need to cover their positions that would contribute to a big increase in silver prices. As the prices increase, more short-sellers will close as margin calls start coming.

Silver Spot Price vs. Silver Futures Price

Today, spot silver is trading at $14.79 per ounce. For silver futures, their due delivery in August is trading at $14.72, and the contracts for September are trading at $14.74. This is what you call a spot price that is lower than the futures price.

This is a great opportunity for an arbitrageur, like you. If you own a good volume of silver metal, you can sell it at the spot market and then buy futures contracts to buy back the metal you sold. By doing that, you will not only profit from it, but you would also get to save on storage costs during this period.

However, if the arbitrage opportunity is exploited, the effect will be the spot price decreasing and the near-term futures price increasing. If that happens, the time will come that there will be no more arbitrage opportunity left. The good thing is, we do not see that! The gray metal’s spot price remains higher than the near-term futures price because of counterparty risk.

Moreover, investors are not sure if they can buy back the metal they sold on the Futures Market. The reason they doubt if the sellers of futures contracts can deliver the metal is because the demand outweighs the supply. Demand is higher than supply.

Sold Out 2015 American Eagle Silver Bullion Coins

In June, the U.S. Mint declared that the popular 2015 American Eagle silver bullion coins were sold out because of high demand. Since the price of silver went down, the demand went up. Silver coins sales reached 4.84 million ounces. It is much higher than the amount of silver sold in May! In fact, it is even doubled. (Source: Reuters, last accessed July 29, 2015.)
Investors are not the only people buying the precious metal. Other industries are also buying this metal because silver can be used as an excellent electric conductor. As industries for solar energy and electronics grow, the demand for silver would also continue to grow.

These are the reasons why silver is being oversold and will continue to happen in the coming months.

If you want to know more about the U.S silver coins and how you can benefit from them, Capital Gold Group can provide you with the information you need.

Contact Capital Gold Group, Inc. at 1(800)510-9594 today or visit!


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Learning About Mint Marks


Mint-Marks-CoinsLearning About Mint Marks

The reverence for gold, silver and other coins goes back to ancient civilizations where they served both as a means of exchange and a symbol of power. The Greeks made distinct marks on their coins in reference to the magistrate in charge of its production. Taking a look at coins from those days to modern times it is obvious that there is reasoning behind mint marks.

For the Greeks, magistrate marks or mint marks as we know them today had various purposes:

· It was easy to identify a person in charge of production in case of problems with the    coins.
· Mint marks made it easy to pursue dishonest magistrates who would debase coins.

The Second World War brought restrictions to the use of metal in 1942 and this greatly affected Philadelphia, the only Mint operating at the time. This situation made them change the 5-cent piece from the regular copper-nickel alloy to another comprised of silver, copper and manganese. To distinguish the two, the new coin had a letter P mint mark on it.

In 1965, there was a Coinage Act that approved dropping of mint marks from coins and even gave Mints the green light to replace silver with copper-nickel. This was prompted by constant coin shortages. In those days, people tried to cling to limited strikes and, as a result, it is very hard to tell which coins were minted in 1965-1967. The marks returned one year later, but the location of these marks changed from the reverse to the front facing side. During this time, however, the Philadelphia Mint was still producing coins without the marks.

The coin shortage struck San Francisco in the mid-1970’s, prompting the San Francisco Assay Office to make some coins without mint marks.

Things in Philadelphia changed in 1979 when they produced the Susan B. Anthony Dollar Coin with the distinct P. In 1980, the Mint put their marks on all denominations of coins, save for the one-cent.

Sometimes mint marks are used by Mints in celebration of certain events. The 1984 $10 Gold Eagle coins have a W mint mark commemorating the Los Angeles Olympic Games. After this, the West Point Mint made a habit of using the same mark on their bullion and commemorative coins. The 1996-W Roosevelt Dime is part of an Uncirculated Mint set celebrating the 50th anniversary of the coins’ design. Notably, however, is that coins produced by this Mint for circulation bear no mint mark.

Today the Royal Canadian Mint coins can easily be identified by their fireworks mint mark. Limited editions of coins often bear different marks compared to those in circulation. The reasoning behind mint marks makes them even more fascinating and unique for avid collectors. All coins in the world have a rich history that can be learned from the marks on them. Understanding the meaning behind mint marks is an exciting way of identifying coins worthy of your collection. Visit us for some more information about coins. We have a rich collection that you will be delighted with and can buy for yourself or a loved one.

Visit Capital Gold Group at or call 1(800)510-9594 today!

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Three Popular Origin Stories of the Dollar Sign



The dollar sign is one of the most recognized symbols in the world, yet very few know the history behind the dollar sign. So where did the symbol for American currency come from? Well, it may be a simple question but the answer to that is widely debated. Different theorists and historians believe in different origins stories and to be honest, no one really knows which one is actually true. This is why rather than sharing just one theory; this article aims to list three possible ways the U.S. Dollar sign could have originated. Once you read them all, it’s up to you to decide which one of these theories you find the most convincing. However, you should keep in mind these are in no way the only origin stories floating around. There are literally dozens of other theories proposed by other people. We picked ones that are widely accepted and have a high chance of being actually true. Without further ado, here’s our list of 3 popular origin stories of the American dollar sign.

The Spanish Peso Theory: This is one of the most widely accepted theories and has good evidence backing it up. This is how the theory goes. During the late 1700s, before the dollar sign originated, most of the financial transactions used the Spanish Peso. According to historical documents, the peso was often denoted with the symbol ‘PS’. A lot of historians believe that as time passed the ‘P’ and ‘S’ kind of got fused together to form the U.S. Dollar sign. Even though, there is still no concrete evidence, this the theory that’s believed by most modern day historians.

Combination of The Letters ‘U’ and ‘S’: This is a theory that most Americans would like to believe and one that comes with the simplest possible explanation. According to the belief, the dollar sign is basically a combination of the letters ‘U’ and ‘S’. Now, it may be hard to imagine how these letters can form the U.S. Dollar sign. However, all you have to do is envision the two parallel lines of the letter ‘U’ without the joining line at the bottom over the letter ‘S’. Now, if you are thinking that this theory doesn’t even come close to making any kind of sense then you would be surprised to know that this is believed by some of the brightest minds of our society. In fact, this theory was put forward by renowned author and philosopher Ayn Rand in her 1957 novel Atlas Shrugged. Even though this is widely popular, there is very little chance of this theory actually being true. Simply because people started using the dollar sign way before The United States was formed.

The Figure ‘8’ Theory: Another popular theory is that the symbol for American currency is basically a modified version of the number ‘8’ with a slash in the middle. This theory kind of makes sense because back in colonial America, Spanish pesos were a popular currency and pesos in Spanish meant ‘pieces of eight‘. Therefore back in the day, the possibility of a modified 8 depicting the newly formed U.S. dollar sign doesn’t seem that far fetched.

For more history and information on currency, visit or contact Capital Gold Group at 1(800)510-9594 to invest in gold or silver today!




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History of the U.S. Gold Standard



In the Beginning, The Gold Standard

The monetary system the United States utilized for countless years was entirely based on precious metals. In 1787, the Constitution of the United States declared that gold and silver were the official currency of the U.S. United States coins were struck in gold and silver. Within the rich and decadent history of the U.S, the country also initially had gold to back all of the paper money printed. The entire system is called the gold standard.” From 1879 to 1933, the U.S. backed all of its paper money with gold.  The only break in the gold standard came during World War 1 where there was an embargo on gold exports. Most agree that the U.S. should have continued backing all of their fiat currency with gold. Many believe its function must be restored if we want to truly preserve the integrity of U.S. currency and how the society operates as a result.

The Integration of the Bimetallic System

The very beginning of the United States financial system integrated the bimetallic system. The idea is that gold and silver are considered legal tender. There is no limit to the amount of gold or silver. This bimetallic system used the weights of silver and gold to determine the value of any monetary unit, such as the U.S. Dollar. Of course the heavier the physical metal and the purity of the , the precious metal are taken into account when valuing it as well. In 1792, Alexander Hamilton proposed a fixed rate of 15:1. The world’s market typically hovers around 15  to 1 but in some places the existence of gold is low, so they fully look to silver as the bearer of that specific ratio.

It was later, during the time of the Civil War that the gold standard saw changes when precious metal resources had become low and they decided to issue paper money in place of it. The system was called the “Fiat Paper System”. It took awhile for the country to grow used to using paper money, but the ease of use means it has enabled the people.

Hand in Your Gold

Britain decided to drop their gold standard in 1931 and with the problems the U.S. was facing at the time, the President decided to take action. June 5, 1933, President FDR enacting steps that would lead to the end of the gold standard. Congress took action saying that their creditors no longer had the right to be paid in gold. The public had begun to hoard gold because of the Great Depression. Since the people were hoarding all of the gold, the gold standard was unable to be maintained. In March of 1933, Roosevelt wouldn’t allow the banks to give out gold or export gold anywhere.

FDR believed that by storing up gold in the Federal Reserve, he could force inflation. This is based on the Keynesian Economic theory. On April 5, 1933, FDR made it mandatory that any U.S. citizen in possession of gold had to turn in their gold and take fiat currency instead. It was basically illegal for U.S. citizens to own any gold. If the gold was worth less than $100, citizens could keep it. FDR was trying to save the U.S. economy. Gold coins, gold bullion, and gold certificates were turned into the Federal Reserve by May 1, 1933 and citizens were given just over $20 an ounce. $770 million in gold coins and gold certificates were collected. Congress then repealed clauses requiring payment in gold to creditors.

In 1934, gold went up to $35 per ounce. This made the total assets in the Federal Reserve worth almost 70% more than they initially took in. Inflation was occurring and the plan had worked. The price of gold stayed at $35 an ounce for thirty-seven years.

Abandoning the Gold Standard

On August 15, 1971 President Nixon declared that the U.S. was completely vacating the gold standard. This meant that the U.S. was no longer valuing gold at the fixed rate of $35 per ounce. Then, President Gerald Ford signed the law saying that U.S. citizens could own gold if they wanted to.

It’s easy to see why a government would want to base their monetary system on a precious metal like gold. The various benefits and the longevity factor of precious metals has been around for so long and their value is not hurt by the economic state or the time period. The economic benefits of precious metals are undeniable and honestly timeless for that matter. It is not only Congress who initially felt the overall favor of what it precious metals could do for the U.S. financial system but the public stood by it as well.

Calling for the Return of the Gold Standard

Many groups in the U.S. have called for the return of the gold standard. There’s no denying its value and that it makes a country’s monetary system strong. Since the U.S. Constitution declared that U.S. money be gold or silver, some Americans believe it’s actually illegal that we are using fiat currency at all.  Article I, Section 10 states that “[No State shall] make any Thing but gold and silver Coin a Tender in Payment of Debts;” Now some people will argue about what that means all day and night. The truth is that U.S. currency has never been as strong as it was since the gold standard. This fact cannot be denied.

To purchase your own gold or silver currency, contact Capital Gold Group at 1(800)510-9595, or visit them online at



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