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November 23, 2014

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Would a one-dollar coin save Americans money?

Here is an article noting that the U.S. Treasury would save $147 million by switching its $1 note with a $1 coin, but that proposal faces opposition not only from the supplier of paper, but also from a majority of Americans.

From a Swedish perspective, changing to a $1 coin would seem natural considering that here the highest valued coin, the 10 krona coin, is worth more, roughly $1.5, 6 times more that of the highest valued U.S. coin and 1.5 times more than a $1 coin would be worth.

Still, even stranger from a Swedish perspective is however the coins that are still around, especially the penny. More...



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Gold boosts slow Salvation Army season
The first gold coin dropped into a Houston-area Salvation Army kettle this season has been a morale booster in a slow year, officials said.

Juan Alanis, spokesman for the Salvation Army in the Houston area, said anonymous donors have been dropping gold coins into the collection kettles for years and the first coin of the year was found in a bottle Tuesday, the Houston Chronicle reported Wednesday.

"Even though it is a significant monetary donation, it's so much more significant in the motivation it gives our kettle workers," said Juan Alanis, Salvation Army spokesman for the Houston area. "It lets them know that what they're doing is for a purpose and people actually believe in what they're doing out there every day." More...

Soros Buying Gold as Record Prices Seen on Stimulus
Gold’s 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever.

The metal will rise every quarter next year and average $1,925 an ounce in the final three months, or 11 percent more than now, according to the median of 16 analyst estimates compiled by Bloomberg. Paulson & Co. has a $3.66 billion bet through the SPDR Gold Trust (GLD), the biggest gold-backed exchange- traded product, and Soros Fund Management LLC increased its holdings by 49 percent in the third quarter, U.S. Securities and Exchange Commission filings show. More...

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Gold Prices Could Peak at $5,000: Bank of America
As gold prices hit a 2012 record of $1,787.40 per ounce on Friday, Bank of America Merrill Lynch analysts said the precious metal could soar to $3,000 or even $5,000 over the longer-term.

“We will be focusing in on gold. Ultimately we think gold can trade between $3,000 and $5,000 an ounce going forward,” MacNeil Curry, head of foreign-exchange and rates technical strategy at BAML, told CNBC’s “Worldwide Exchange.”

“Certainly not within the next few months, but on a long-term basis we are on a well-defined uptrend, and we have got more to run before that runs its course.” More...

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