Archive for the ‘Spain’ Category

How much does 1 gram of pure gold cost ?

Thursday, November 28th, 2013

Who said that only wealthy people could afford buying gold ?

  • Save from 1 gram of gold per month
  • Secure storage in Swiss vaults – FREE*
  • No administration or signup fee
Sign up for the LSP for free

Gradually build your wealth by simply buying each month a minimum of 1 gram of physical gold, for your LinGOLD Savings Plan (LSP) and benefit from freestorage in Swiss vaults outside the banking system.

How to save with the LSP?

  • Connect to your LinGOLD account or create a new account
  • Signup free to the LSP programme
  • Buy each month a minimum of 1 gram of pure gold
  • The gold you have bought is fully referenced : bar code, photograph, certificate of ownership
  • The gold is stored in a Swiss vault outside the banking system
  • You are free at any time to increase or reduce the amount of your savings, or you can unsubscribe from the LSP with no charge or prior notice.
Minimum Purchase 1g pure gold per month*
Maximum Threshold Unlimited
Storage Charges Free*
Signup Fee None
Availability Immediate Resale
Minimum Engagement None

*The storage charges levied on your gold stored in the LSP are FREE, on the condition that you buy a minimum of 1 gram of pure gold per calendar month, before the last day of each month. If the minimum monthly purchase is not made, storage charges will be applied, currently £4 per month per 200g total weight stored.

What are the products that fall within the LSP?

  • All the fractions of pure gold (1 g, 10 g, 100 g) issued from bars or gold investment coins (Britannia, Sovereign, Napoleon 20F, Napoleon 10F, Panda, Vera Valor, etc)
  • A whole coin : Vera Valor 1 ounce
  • A 1kg bar of pure gold

For further information on the LSP.

Debt will drown Britain

Tuesday, April 9th, 2013

We here at have expressed the opinion that debt will drown economies as indeed it has been so in the cases of Portugal, Ireland, Spain, Italy and Cyprus. The banks have yet to fully acknowledge their off balance sheet losses that they are too scared to mention as the magnitude could certainly lead to several high st bank collapses.

Sovereign debt is also an issue as countries continue to increase their spending partly due to the crippling interets repayments they are already making.

Imagine when we can no longer repay the interest or the debt. Imagine when the country being spoken of is no longer a distant one on the news but the place where you live, work and raise your children.

Well be ready as that country will soon be the UK on Spanish Tvs, Portuguese TVs etc.

Here is an extract from an excellent analysis done by the MoneyWeek team and there is a full and coherent expalanation as well as some home truths about where we are heading and how we got there. Please do click the link and read the full text (or watch the video) – it will wake you up to the facts and maybe action.

In Britain, interest rates on government borrowing now stand at record lows. If we’re not at rock bottom, then we’re incredibly close.

That means the most important trend of the next twenty years is almost certainly rising interest rates.

Debt has been getting cheaper for thirty years. Now it’s about to start getting much more expensive.

We’re now facing an unprecedented crisis.  As interest rates rise, our record debts will become impossible to bear.

No one can say how quickly things will escalate. Interest rates could rise overnight. Or they could slowly and inevitably push higher, taking years to slowly strangle the economy, the housing market, the stock market… stripping us all of our wealth one day at a time.

What we can say with certainty is that sooner or later interest rates WILL rise. We’re approaching the day when foreign investors realise the scale of our problems, and demand higher interest rates… or stop lending to us altogether.

When that day arrives, we are certain things will get nasty”  ………… read more here

Remember that the effects of debt and crisis ultimately brings inflation/deflation and even hyperinflation very quickly. Your cash currency can lose value in hours such that it becomes worthless paper.

Now you know that the economic storm is coming back with a vengeance what have you done to protect your wealth against the effects of crisis? Nothing? Because your investment is inflation- proof?

You have shares that cannot lose value in volatility or a crash? Hardly as by their nature shares will suffer during recession and crisis.

Whenever there is a bank run or collapse of a currency people immediately rush for anything tangible they can buy in order to rid themself of the paper fiat currency with something of inherent value that may be useful to trade for survival.

We have covered the exact effects on real people in our article on Belarus

“The chaos of a currency collapse”

Basic human nature is very hard to change especially when survival is at stake and as more of us understand the lies and deceit of our upstanding pillars of society and the lengths to which they will go to make more money, the more likely that it will be real people who start the next revolution and not some obese deranged egotistical psycho in the north of Korea.

Crisis insurance is gold – buy some now before it’s too late for the insurance.



Tuesday, January 22nd, 2013

By Mark Rogers

We have seen how the Deutsche Bank analysts who wrote Gold: Adjusting for Zero made a central place in their discussion for the Misean concept of human effort, and how an inflationary, fiat currency economy naturally destroys the value of effort. While at first glance it might seem odd to find such a discussion in an analysis of the feasibility of a return to the gold standard, it is precisely gold’s potential to act as a restraint on, a chastener of political ambitions, that returns the question of human effort to centre stage.

That is, of course, if you have humans in the first place who make that effort. This is so in both an absolute and a relative sense: there must be living humans capable of effort, and those living humans must want to make that effort.

In his important book America Alone, Mark Steyn analyses the western world’s contemporary woes in terms of demographics and makes the sobering observation that only America is breeding at replacement level. Elsewhere, the Spaniards are amongst the lowest in western Europe and the Russians are on an irrecoverable downward trend.

He squarely puts the blame on the welfare state, that “cosseted consumerism”, as the Deutsche Bank report puts it, that has replaced the individualism of free markets. And more to the point he makes clear what the source of this malaise is:

“Unchecked, government social programs are a security threat because they weaken the ultimate line of defence: the free-born citizen whose responsibilities are not subcontracted to the government.”

Readers curious as to why articles of this nature should be appearing on a gold investment website should read: GOLDCOIN.ORG: MIXING POLITICS AND NUMISMATICS

And for background on the writer: CONFESSIONS OF A LAW AND ORDER ANARCHIST

And for a review of one of the most important books on the financial crisis published last year: THE MESS WE’RE IN: WHY POLITICIANS CAN’T FIX FINANCIAL CRISES


Saturday, August 25th, 2012

By Mark Rogers

Now that the main Olympics are over and the daily newspapers have recovered their normal size and weight, it is possible to see what else is happening in the world. Surprise, surprise… while London was full of sportsmen and women doing their best to out-compete each other to make some sort of achievement, those other Olympians – the gods of the Eurozone – have got precisely nowhere. Which in practical terms means less than nowhere…as we have previously seen here.

The Greek Prime Minister has been smiling his way from Paris to Berlin – but it isn’t going to make much difference. The German government is under huge popular pressure not to make any more concessions to the Greeks, the idea being that as the Greeks have, again, failed to make progress to meet any of the commitments they had already made, where is the logic or reason in renegotiating?

The problem is simple, and is well understood by Chancellor Merkel: the only way in which Greece (and Italy? Spain? Portugal?) can be kept in the euro is by the Eurozone becoming a real fiscal union with Germany permanently underwriting the poorer countries’ debts. But this is completely unacceptable in Germany, and other northern European countries (Austria, the Netherlands and Finland) are equally opposed. Was this one of the original compromises made before the euro was launched? While knowing that the single currency might only succeed if the proper fiscal union was created ab initio, but also knowing that this would have been politically unacceptable, the politicians went ahead with their vanity project knowing that it would be botched…  No wonder they’re desperate to patch it up somehow, but their inability to do so, because of the impossible circumstances they have created, has led to this apparently never-ending stasis…

But perhaps not quite, because from a completely unanticipated direction a break-up of the eurozone may be on the cards sooner than anyone expects, except those who have prepared for it: the Finns.

The current issue of The Economist (August 25, leader) states: “efforts to shore up the euro might be scotched not in Berlin but in another austerity-minded northern capital: Helsinki.”

The Finns have already made contingency plans for the break-up of the euro. On July 6, 2012, the Finnish Finance Minister was quoted in The Daily Telegraph as saying:

“Finland is committed to being a member of the eurozone, and we think that the euro is useful for Finland,” Ms Urpilainen told financial daily Kauppalehti, adding though that “Finland will not hang itself to the euro at any cost and we are prepared for all scenarios”.  She went on: “Collective responsibility for other countries’ debt, economics and risks; this is not what we should be prepared for.”

It is worth keeping in mind that Finland is one of very few EU countries that has managed to maintain its triple-A credit rating; the finance minister therefore speaks with a good deal more authority than most other players in this wretched game: “We are constructive and want to solve the crisis, but not on any terms,” she said [my emphasis].

The Economist goes on to point out that “uniquely, Finland has demanded collateral for its part of Greece’s second bail-out and for the funds it underwrites to support Spain’s crippled banks. If a grand bargain on the mutualisation of debts is ultimately required to keep the euro together, the Finns could block it. A few observers even think a “Fixit” (a Finnish exit from the euro) is more likely than a Grexit.”

This is quite a turn around. It should be remembered that in the 1990s the Finns pulled out of a banking crisis entirely on their own, demanding no assistance from anyone: no wonder they are hostile to bail-outs!

The Economist says that the longer Chancellor Merkel prevaricates, hoping to come up with some grand unifying scheme, the more the cost of bail-outs will increase; but surely the real point is that while prevarication has prevailed, the money itself has run out.

Readers curious as to why articles of this nature should be appearing on a gold investment website should read: GOLDCOIN.ORG: MIXING POLITICS AND NUMISMATICS

The Mint Museum of Colombia located in Bogota’s La Candelaria district.

Thursday, May 17th, 2012

From an original article published at L’Or et L’Argent.

Museum of Money, Bogota

Museum of Money, Bogota

There are several institutions throughout the world which are part of the historical numismatic memory  –  without which we could not enjoy the collections nor any interest in investing in those precious coins which safeguard our heritage in the way that gold coins do. Today therefore we will touch upon the history of Colombia’s Mint Museum.

For those passionate about numismatics travelling to Colombia and in particular to Bogota, there is one place not to be missed: the Mint Museum, located in the working-class district of La Candelaria.

Latin American countries have always had a very strong link to the history of gold – therefore we shall dedicate some space to them, sharing their history and an analysis of their coins, those which are most representative and much valued and appreciated by their inhabitants.

King Felipe III of Spain ordered the foundation of this emblematic Mint Museum in Santa Fé de Bogota and entrusted the works to the engineer Alonso Turrillo de Yebra.

First coins struck

First coins struck (BANREP)

The striking of coins began in 1621 in one of the very first buildings constructed in Bogota. The history of this Mint Museum is very important since it is the place where the first gold coins of the Americas were manufactured, the “macuquinas”, which were named ‘doubloons or mintings’.

Some were struck in Cartagena and others in Santa Fé de Bogota. It was only a decade or so later that the striking of gold coins was authorized in the Mint Museums of Mexico and Peru.

Its infrastructure improved gradually, going from a small, simple blacksmith’s workshop located on only one level at the current Museum, endowed with a beautiful Andalusian-style architecture with a touch of provincial colonial period features.

Santa Fé de Bogota was the capital of the Spanish Vice-royalty of New-Grenada, home to the viceroys, the judges of the Royal Court, the Clergy, the Captains of the Tercios of Spain and of course to Gonzalo Jiménez de Quesada, its founder.

The amount of work becoming increasingly important in terms of volume, the directors of the museum found themselves under increasing pressure over time to reform it in order to meet requirements. Half a century after its inauguration, it was Felipe VI himself who ordered its expansion – in the beginning, the striking was highly traditional, but following the implementation of various changes, machines started to be used.

Their treasures were much coveted during the riots which took place in the Colombian capital, but they fortunately survived all attacks – including natural ones, notably during earthquakes.

Nowadays, we can enjoy the same museum as that of several centuries ago, which was re-inaugurated by Viceroy Solis in 1756.

Bogata’s Mint Museum is recognized as a National Monument, a title which was granted in 1975 following the decree of 1584, currently dependent upon the Bank of the Republic of Colombia.

Within, one can follow all the most important events of the country’s history, the history of the museum and all the coins and notes manufactured throughout these centuries.

The BRIC attack: A major political event

Friday, April 27th, 2012

Translated from an original article by Charles Sannat, Director of Economic Studies,, Paris

The Fourth Summit of the BRIC nations, a major political event.

This is a huge story and yet has gone largely unreported by the major western media. On the 29th of March in New Delhi, the Fourth Summit of the BRIC nations took place (Brazil, Russia, India, China).

“The BRIC nations (Brazil, Russia, India, China and South Africa) should no longer use the US Dollar in their bilateral exchanges. That is what was decided on Thursday the 29th March, 2012, during the Fourth Summit of leaders of these five nations in the Indian capital”.

Source: and

The following was decided during this meeting: an essential step was taken towards a “multipolar” global monetary system. March 29th 2012 will undoubtedly not be the date remembered in history as marking the end of the era of the Dollar. Nonetheless, the change is major.

Towards an overhaul of the IMS

We are entering a phase of disintegration of the International Monetary System as we know it. Our monetary system dates back to the Bretton Woods agreement of 1944 which was brought to an end by the Jamaican agreement of 1976 (this ended the gold standard).

So what will happen now? Stock markets are starting to fall because the issuing of European bond funds is doing badly or is disappointing (depending on your degree of optimism about the outcome of this policy), which is the case for Spain and now Italy.

What one must understand is that according to the current economic system it is the surpluses of some which finance the deficits of others, thus creating a balance. In other words, western countries are in a chronic deficit which has been, and I stress has been, financed by the major Asian exporting nations on the one hand (China and India) and the oil-producing nations on the other.

For the last few years, nobody was lending to western states (by this we mean the US and Europe) which now find themselves in an irreversibly compromised situation.

It is this lack of external funds which is pushing the central banks, the FED and the ECB to massively intervene in the markets. The only option that remains for us is indeed the use of the printing press and the creation of money with all the negative consequences that follow.

Though this Fourth Summit of the BRIC nations is a founding step towards the overhaul of the IMS this is certainly not the ultimate goal.

Ground-breaking events in international relations

Discussing the topic of the monetary system without mentioning the political dimensions would be a mistake. The future International Monetary System will be shaped by the international balance of power and alliances between the major players in the context of the fight for access to energy and agricultural resources and in the broader sense to raw materials. A strong axis is taking shape amongst the BRIC countries, and Iranian diplomacy is also far from insignificant.

The trans-Atlantic relationship remains strong despite the strains and divergences. Lastly, one should not imagine that the United States of America will let their status as world leaders slip away without a colossal “fight”. American policy has always been based on a simple concept: “America First”.

We are thus entering a new phase in the current crisis:

In 2007, the subprime crisis led to a financial and stock market crisis.

The financial crisis led to an economic recession.

The economic recession lead to massive state intervention in the form of stimulus packages which resulted in massive debts for these states.

The debt crisis can only lead to a major monetary crisis.

The monetary crisis (which is on its way) will lead to the restructuring of the International Monetary System.

And… the manoeuvres have already begun. The global repercussions will be deeply felt, as the International Monetary System is to the global economy what tectonic plates are to geology. We are touching upon the essential part. The tremors will truly be felt.

Will you be ready?

Gold Investment in Spain

Thursday, April 19th, 2012

We here at have had the pleasure to interview Señora Lizette Paternina, the editor of, a blog dedicated to gold investment, gold coins and the unstable economics of our time. Her story has an interesting evolution based on the response she had to her blog articles. The popularity of her blog has paved the way for the launch of a commercial website,, which enables the Spanish speaking market to have access to a proven, reliable method of gold investment.

Editor: When did you first launch the blog

Lizette: In March 2011 I posted my first article on line having spent some months previous immersed in the research of blog content. The first article is always special and I remember the feeling of excitement when I saw the visits to my blog and knew that people were reading my article. I was encouraged to continue producing and evolving content that was obviously attracting a growing audience.

Editor: What do you look for in an article?

Lizette: A story that tells a truth, with substance, meaning, logic and often on a subject ignored by the mainstream media. My articles present information to readers regarding the current economic climate and its impact on all of us. Many things are left unsaid that need expressing and this can be particularly true in the gold industry. I am originally from Colombia and so issues regarding “ORO VERDE” that could be so important for the survival of whole communities & their livelihoods need highlighting. Similarly I fully support the Clean Extraction initiative for 100% traceable gold that respects people and the planet. It is also important to have an historic perspective on the economy and gold investment as well as for the evolution of everyday changes in the economy. To this end I like to combine numismatic and historical facts about gold coins as well as the story of certain important coins that have a particular place in Spanish or Latin American history.

Editor: Why have you launched now?

Lizette: This is the ideal moment to launch an alternative method of Gold Investment to the Spanish and Latin American markets because there is no similar offer currently available. The current market is based more on jewelry and physical possession of gold bars and coins. However, our experience suggests that this is not the best way to invest in gold as it is difficult to realise a good value at resale when you inevitably have to sell it back to a dealer. Our business model allows Members to freely trade between themselves, therefore maximizing the opportunity to realise the full potential of their gold coins. It’s easy, practical, logical and has a proven track record in the French and the English speaking worlds as demonstrated by our sister sites &

The advantages of LingORO are that investors can buy and sell on-line 24/7 from anywhere they want and also that we offer vault storage – this model allows ease of resale.

Editor: What type of products are available and why? Where do they come from?

Lizette: Only professionally sourced investment quality gold coins are available – these are all verified and sealed in cases. We also have a focus on certain Spanish and South American gold coins which are of great interest including the 25 Pesetas, The 50 Pesos and the Soles and Libra from Peru.

We also have the VERA VALOR which is the first Clean Extraction product in the world .

We also have a savings product called LSP – Libreta de Salvaguarda del Patrimonio – which operates on a simple plan to make a minimum purchase of 1g of pure gold per mont. In doing so there are no vault storage charges and this product means investors of all budgets can participate. This is an excellent alternative to a traditional savings account with the advantage of being in physical gold and without the contracts and restrictions. The LSP is totally flexible and a Member can buy as much as they wish without storage charges (as long as they buy a gram a month).
The big difference for investors is that they own outright everything they buy and are in complete control of when they buy and sell as well as the prices they wish to sell at. This is really important when you need to sell your gold because our system allows Members to sell at the best price of the market rather than at the mercy of over-the counter dealers who are obliged to offer below spot buy back prices to make their margins.

Editor: Why should we invest in gold?

Lizette: Gold is an excellent way to save, it is an alternative to the traditional bank products which have proved to be unreliable (particularly during the current crisis) and of course it is a diversification of a portfolio. Perhaps most importantly Gold is the safe haven currency when all other currencies are failing and losing value.
It is worth noting that most investments have a risk attached – that is to say a risk to the counterpart offered in the investment. If these are shares, certificates, funds etc there is a possibility that the counterpart to your investment ie. the shares or assets supposedly backing funds could fall to zero in a crisis due to company failure, the debt cycle or unscrupulous traders who have oversold their funds such as is the case with ETFs (less than 20% physical gold to back the certificates sold).
Gold can never fall to zero as it has consistently had value for 6000 years which is better than any modern day currency or fund.
Finally, we should think of gold as an insurance against economic crisis. It will protect your wealth against inflation and it will always maintain purchasing power whatever happens during the crisis. No other product can offer this. If you have a house you usually have fire insurance in case one day the unthinkable happens. At least you have the peace of mind that you can rebuil it.
If the crisis deepens as is largely expected our whole way of life could be challenged – therefore it is prudent and wise to take out an insurance against the effects of crisis.
As in the case of fire insurance it is wiser to buy insurance before the catastrophic event!

Editor: Do you have a message to the people?

Lizette: Choose a good option that helps you save not only in a moment of crisis but which will also work for them during normal situation.
Gold protects money and the people can have a real savings to leave for the family or indeed help them with the costs of life, houses, holidays, cars, university fees etc.
We have a beautiful collection of professionally certified coins that are designated as investment quality which is not always the case elsewhere. We offer quality of service as well as trust and confidence with our Members.
My message to investors is to look at what we have to offer and then compare this to other methods that they have traditionally used and evaluate which is the better option for you – that way I know I will be welcoming lots of them real soon.

Editor: Many thanks for your time and best of luck with

Lizette: You’re very welcome and thank you. I am a regular reader and fan of because there are so many interesting facts and articles that are pertinent to the economic situation and the gold market. I often post links to your articles and sometimes translate quotes made by economists and commentators about the gold market. I wish you continued success with your blog and hope to see you in Spain soon.

Why do investors buy gold?

Thursday, April 5th, 2012

A lucid analysis from France on the logic of gold investment

Translated from an original article by Charles Sannat, Director of Economic Studies,, Paris

With regard to the economy, we have just gone through a “settlement” period with the Greek crisis. But in reality nothing has been settled. As far as Greece is concerned, we have gained a few months’ respite in so far as that country remains indebted to the tune of more than 120% of its GDP and nothing indicates that a recovery in the public finances can succeed. Having said that, we shall see within 12 to 24 months.

More worrying of course is the economic situation of Spain and Portugal, with here too monumental social damage in progress and popular demonstrations which are starting to become extremely significant in the fight against austerity plans. Beware. Spain is not Greece. Spain is a great country, with a great history and Franco’s nationalism only dates back to 1975, i.e. yesterday. As any expert on Spain will tell you, that country will never accept a Greek-style humiliation. The Prime Minister has in fact called a stop to certain reforms. And he is right-wing. Spain will not be able to find a way out of the economic, financial and property crisis with a strong euro which does not correspond to the intrinsic characteristics of its economy. The same applies to Portugal.

We should not forget our own country, France. If we recall, in 2010, there were 1.42 working people for every retired person. Retirements will end up by no longer being paid for because there is quite simply no more money. The problem is not in 20 years’ time. It is now.

France is also in bankruptcy. The Court of Auditors in France, chaired by the Socialist Migot, has stated that it is necessary to dispense with indexing pensions to inflation. With real inflation of 5% per annum, in 10 years’ time a pensioner will lose the equivalent of 60% of his purchasing power. That is the reality.

Lastly, let us remember the end is nigh atmosphere at the end of 2011 (that was three months ago). One really wondered whether the euro would have survived by Christmas. What has changed since then?  One simple but basic fact. Over-indebted countries (France and Germany) became even more indebted, to temporarily save a country like Greece from immediate bankruptcy. But it is the entirety of our economic system which is in an irremediably compromised position. Nobody is able to say so. Even less the “people” behind the system. That is self-evident.

The only truth is the following: infinite growth related to mass consumption thanks to abundant and cheap energy in a finite world is a system likely to fail.

  • A gold purchaser does not buy gold to speculate.
  • A gold purchaser does not buy gold to get rich.
  • A gold purchaser does not have a view on the financial results of the next quarter.
  • A gold purchaser buys gold because he or she has a fundamental analysis of the current dead end in which the global economy finds itself.
  • He or she buys gold because each serious crisis ends up by finding a “monetary” resolution that is usually painful.
  • He or she buys gold because gold has been the Vera Valor (true value) for more than 6,000 years whilst the euro barely celebrates its 10th anniversary.
  • He or she buys gold because before 1914 the currency was gold; because in the inter-war years those who had given up gold got to know a period of hyperinflation which led to Nazism coming to power with the disastrous consequences that we all know.
  • He or she buys gold because in 1971, the dollar was no longer convertible and only the banknote plate continued to function unsupervised.
  • Above all, he or she buys gold because he or she knows, and it is a historical certainty, that nothing is immaterial. During the last century we saw five different international currency systems or one every 20 years on average.
  • He or she buys gold because the current system will change. Regardless whether it is in six months or six years.
  • Gold buyers buy gold because they know that whatever the outcome of change, they will have simply kept the value of their assets. And it is that which will make all the difference.

Everyone else is half-witted, rendered moronic through TV and lobotomized by the eternal Welfare State. They will suffer. But this last sentence should of course not be quoted. It is OFF the record as they say. And I will not even give a small coin (out of gold) to a tramp when he goes around begging with his small sign: “May I call upon your kindness, Ladies and Gentlemen, in helping a former paper salesman by giving a bit of change to eat and help me to remain clean.” These people are ruining French people, just as with the Russian loans, or the assignats, and with each devaluation… In short it is necessary to know history and fully understand that they do not support us. The people act as compensation for the rich (banks and the system).

That’s why gold is bought.

Gold is rising I am happy. Gold is falling I am equally happy because I can buy more.
A gold buyer is always happy:-)

Peruvian gold coins: 100 Soles

Tuesday, February 7th, 2012
100 Peruvian Soles - Reverse

100 Peruvian Soles - Reverse

At the time of the ancient Peruvian pre-Hispanic culture, gold and silver did not have the same meaning as today – it did not have any economic if not religious value and represented the authority of a race or people. To trade, people ‘ bartered’ food such as hot red pepper, for example, or if not copper coins for trading in goods.

On the arrival of the Spaniards in Peru, a system of currency was established then the building of the Museum of Currency of Lima, which was inaugurated 22 years after the foundation of the city, on the order of King Felipe II. At the beginning, the striking of gold coins was limited by royal decree – thus, the first coins which were struck in Peru were those out of silver in 1568, resembling the coins struck in Mexico at the time of the reign of Charles 1st.

These coins were given the name of ” Rincones ” – in honour of its engraver Alonso de Rincón. The Museum of Currency of Lima underwent several closings and was finally closed in 1588. Prohibition to strike gold coins was lifted during the time of the viceroyalty, at the time when a bi-metallic system was founded, in which both silver and gold were used. The gilded metal coins were named ‘ escudos’.

At the beginning, the metal used for the manufacture of these coins was rather rudimentary (with an anvil and a hammer). The coins obtained were rather uneven in shape, to which they were given the name of Macuquinas (makkakuna = struck).

In 1752, new coins were manufactured with the edges bound in cord, thus the shapes of the coins became round. The first gold coins to be struck had on the obverse the King of Spain of the time wearing a wig (known for having a large number of wigs) and on the reverse the crowned shield. The rich history of Peruvian coins knew many changes following the succession of royalties and mandates in the country. Let us make an interesting leap back into the past, to the time of ‘Peruvian dimes’: the Soles. The One Hundred Peruvian Soles out of gold, the arrival of Simon Bolivar, great liberator of Latin America, caused a certain number of changes at monetary level.

100 Soles of Peru – Obverse (Source

100 Soles of Peru – Obverse (Source

The appearance of a new escudo, symbol of freedom of Peru, bore an obverse with the new emblem and on the reverse a feminine character standing upright (Libertad Parada) who represents the Republic. In the early days of the Republic, Peru went through difficult times. The country was divided into two: the Republic of the Peru of the north (having Lima as a capital) and the Peru of the south (having Cuzco as capital) – the first republic kept the obverse of Libertad Parada and the second republic created a new coin showing the new departments which formed the Peru of the south. In parallel at the same time, new alliances were created between the Peru of the north and Bolivia – thus appeared the weak currency of Bolivia which made the Peruvian currency fall. This system did not function and following the law of 1863, ‘ The Sole’ was created as the single currency of Peru. The obverse was changed – from Libertad Parada to the seated Libertad. Struck in gold, silver and made out of copper, but more specifically in this article, we will deal with the 100 soles of gold since it concerns one of the most important Latin coins in the field of numismatics.


The reverse of this elegant and precious coin takes up again the seated Libertad, inserted with the shield and the column. On the lower part of the coin, just below the feet of Libertad, appears the year of striking whereas on the edge of the coin, on the far-right of the character, one reads CIEN SOLES ORO (ONE HUNDRED GOLD SOLES), and on the far-left: GRS.42.1264 OF FINE GOLD


The obverse shows the Coats of Arms of Peru with in the top part its laurel wreath, and, in its lower part:

– In the first part: a vicuna (sacred animal for the Incas).

– In the second part: a quiquina (whose peel, which contains quinine, has recognized medicinal properties)

– In the third part: a cornucopia in gold – which refers to the natural richness of the country.

This crown is surrounded by a branch of palm tree and is covered by a laurel wreath – interlaced with a two-tone belt. One reads on the coin: PESO (WEIGHT) GRS.46.8071- REPUBLICA PERUANA (PERUVIAN REPUBLIC) – NUEVE DECIMOS FINO (NINE TENTH FINE) – LIMA. Weight and Purity 46.8071grs y 0.9000 Gold 1.3544 OZ

The coin in figures

Minting of the 100 Peruvian Pesos. Year and number of coins struck

Minting of the 100 Peruvian Pesos. Year and number of coins struck

To acquire one of these coins is a wise decision if you wish to combine security with the pleasure of owning a beautiful coin, which will acquire more value in time since it has not been struck since then.

Amadeo I: the other 25 and 100 Peseta gold coins

Friday, January 20th, 2012
Amadeo I of Savoy

Amadeo I of Savoy

Son of the Italian king Victor Emmanuel II, Amadeo I was proclaimed King of Spain on the 2nd of January, 1871. Hitherto, the influence exerted by the Spanish government sought to found a constitutional monarchy – hence they selected a foreign king and put in place a system of mandates, namely: the people for the king, through Parliament.
Amadeo I was the first king of Spain to be selected by Parliament. He was not recognised by certain parliamentarians, including; Carlists, Bourbons, the church and by the people; who judged him as being unpleasant and reticent towards learning the Spanish language.
Upon the death of General Prim, the political alliance which had placed Amadeo I on the throne began to dissolve little by little. The pressures brought by the federalist revolts, the loss of support from capitalists and the Carlists war pushed the Italian monarch to renounce the throne on the 11th of February, 1873.
From his 2 years of rule, hallmarks bearing his effigy were designed for the 5 Peseta coins as well as the 25 and 100 Peseta gold coins – some were struck as trials.
In 1868, a new parameter was integrated into the Spanish monetary system. Unique to the world, two dates were to be inscribed on the coins: the approval date of the coin type and when it was struck. Nevertheless, this initiative was not correctly followed between 1871 and 1875, partly covering the rule of Amadeo I. According to information collected in el Catálogo de la Peseta, it appears that the number of coins issued with the year (between the stars) 18-71 are more common than those of 18-73, those of 18-74 appear in only 20% of cases while those of 18-75 appear in only 10% of cases, approximately.
It was only during the 1st republic, i.e. not before the end of the year 1873 that the process of the two dates began to function better, inscribing the correct date between the stars of the coins.
But this accuracy of dating came at a time when the currency did not reflect reality since Amadeo I renounced the throne in February 1873. The republic followed and thereafter, in 1875, came the rule of Alfonso XII, although the currency with Amadeo I’s effigy continued to be struck until mid-1875.

Marks of guarantee of the Amadeo I coins

Five people were charged with assuming the guarantee of these coins. On the obverse side are affixed the first name and surname initials of the engraver – on the reverse, the surname initials of the two Testers and Beam Balancers:

Engraver: L.M.: Luis Marchionni

Testers and Beam Balancers:

SD M: Donato Álvarez Santullano, Eduardo Díaz Pimienta y Ángel Mendoza Ordóñez.

DE M: Eduardo Díaz Pimienta, Julio de Escosura Tablares y Ángel Mendoza Ordoñez.

25 Peseta gold coin

Amadeo I 25 Peseta coin

Amadeo I 25 Peseta coin


Fineness: 900 Thousandths.

Diameter: 24mm.

Weight: 8.0645g.

Workshop: Madrid.

Edge of the first coins: Relief engraving of 27 six-ray stars, using the hoop system open to three points.

Edge of the coins struck later out of reddish gold: JUSTICIA Y LIBERTAD (JUSTICE AND FREEDOM) separated by three groups of two six-ray stars.

Obverse: AMADEO I REY DE ESPAÑA *1871* (AMADEO I KING Of SPAIN *1871*) – portrait of the king facing right.

Reverse: Ley 900 Milésimas (Title 900 thousandths) – 124 piezas in Kilog. (124 coins in Kilog.) SD 25 PESETAS M, around the Spanish armouries carrying the coat of arms of Savoy, surrounded by the coat and fleece.

Number of strikes: 1871 (75) SD M = 25

<The first strikes were made with an alloy containing 10% silver and conferred a bright yellow tone to the gold of these coins, which differentiates them from the other coins struck later, these latter ones displaying a more reddish tone of gold.

These coins, as well as the 100 Peseta coins of the same year were the first gold coins displaying a face value in Pesetas, emanating from the Reform of October 19th 1868. Struck under the Order of the General Directorate of the Treasury of August 22nd 1871, “as tests, and it is impossible to specify the quantity of coins manufactured in 71”>

(Information extracted from the Catálogo de la Peseta by J.Aledón & Modern World Gold Coins).

In general, the 25 Peseta coins began to be struck under the Royal Decree of March 15th 1871. Previously, the reform of the Peseta did not integrate in the values struck out of gold the 25 Peseta coins, omitting the 8 gram model so well-known in Spain, Germany, Holland, etc…

Of these coins, only some were struck as tests. It is under the reign of Alfonso XII that they started to be manufactured in series.

100 Peseta gold coin

Amadeo I 100 Peseta coin

Amadeo I 100 Peseta coin


Fineness: 900 Thousandths

Diameter: 35mm.

Weight: 32.25g.

Workshop: Madrid.

Edge: Relief engraving using the hoop system open to three points with the words JUSTICIA Y LIBERTAD (JUSTICE AND FREEDOM), separated by three groups of two six-ray stars.

Obverse: AMADEO I REY DE ESPAÑA *1871* (AMADEO I KING OF SPAIN *1871*) – portrait of the king facing right.

Reverse: Ley 900 Milésimas (Title 900 thousandths) – 31 piezas in Kilog. (31 coins in kilog.) SD 100 PESETAS M, around the Spanish armouries bearing the coat of arms of Savoy, surrounded by the coat and fleece.

Number of strikes in Yellow gold: 1871 (71) = 25

Number of strikes in Red gold: 1871 (71) = 50

> An auction was held in Madrid on March 16th 1995, selling one of these coins at the starting price of 15 million pesetas (€ 90,151.82)

(Information extracted from Catálogo de la Peseta by J.Aledón & Modern World Gold Coins)

Re-striking of these coins

Unable to gain possession of the original specimens of the said coins, King Alfonso XIII commissioned the re-striking of specific ones in order to honour certain obligations. Thereafter, it was discovered that these coins appeared in 1963 coming from Switzerland.

The Decree of March 21st 1871, which enacted the creation of the 25 Peseta gold coin, stipulated that it would contain any caption on the edge, and if possible that the smooth part of the corners would contain differences to distinguish these coins from those emanating from other countries.

But the coins re-struck out of reddish gold display on their edge: Justicia y Libertad (Justice and Freedom), separated by three groups of two six-ray stars, similar to the engraving on the edge of the 100 Peseta coins.

Thus, these two coins of reddish gold were a re-striking produced in an unofficial way with the original coins, and to purely profit-driven ends.

As these are very unusual and rare coins, to possess or decide to purchase some is a true luxury – a great treasure!

Spain’s Boom and Bust Property Market

Monday, April 18th, 2011

Here is a insight into the real problems facing Spain today provided by one of our esteemed colleagues at our Spanish blog

The surreal panorama left over from the Spanish housing boom

In some parts of different cities in Spain, we are able to find landscapes which have a desolate and eerie feel. They leave us with a feeling of nostalgia for that time of bonanza which was enjoyed for many years but which will not return, at least not in the way it was.

In this section we will focus on the economy which fed on itself until there was nothing left. It originates from the property bubble which according to many was born in 1997 but which ended up by exploding in 2007, this being the year in which this country fell on hard times and it seems that we have still not reached bottom yet.

The problem, apart from having channelled all activities towards this sector, resides in activities which were neither ethical nor transparent and in which so many banks and local authorities became involved who were blinded by their desire to get rich out of this business and entered into a maelstrom of distressing activities such as: reclassifying non-building land, sudden spectacular increases in interest rates, excess credit, etc which dramatically accelerated the collapse of this wealth cycle.

We find urban areas with large plots of buildings which are half-built, forgotten by the bank responsible for their financing owing to a lack of liquidity alongside those which have been finished and are waiting for a buyer who, for the moment, is not coming.
And how will buyers come?, if there is fear in the air about what happened, not to mention high unemployment figures throughout the country and low purchasing power today, we cannot allow ourselves this type of investment, which apart from giving you a roof also gives you an increasing debt year after year to which you will be wedded for the rest of your life up to the age of 65.

The Minister of Finance, Elena Salgado, is guaranteeing that the same thing will not happen to Spain as happened to Portugal because it has done its duties, namely: raising taxes, increasing the age of retirement, freezing pensions, etc.

If this is doing things right then we must trust God to help us when they do things badly. For the moment we are waiting for alternative solutions to mitigate the damage caused by the property phenomenon. The generating of employment which is what will help the country move forward does not seem to be around the corner and, as a result, the queues of unemployed people going to the offices of the INEM to submit the necessary papers to receive assistance which barely helps them live, continue to grow. This is to say nothing of those who do not receive anything.

Speaking of this type of subject causes a lot of indignation because we see the future of many people who have great talent and potential being undermined by the erroneous actions of those who lead the country. Directly or indirectly the economic situation affects us all either because we are living it ourselves, or because we have friends, family or acquaintances who are going through it.

The best thing to do at this time as one door closes is to open another one ourselves. If we only focus on one thing (as did Spain with its exuberant construction programme) we shall be left waiting for a miracle to happen and unless you are a great believer, there are very few who have the opportunity to experience one and talk about it.

As a result we need to diversify talent, diversify professions and diversify safe investments (such is offered to us by gold at this time) which give us a little peace and tranquillity knowing that at any time they may help us to get over the hurdles that lie in our path. There is no doubt that this is the best plan B we can have at this time.

Translated from an original article by Lizette Paternina

Spanish Gold coins: Alfonso XII 25 pesetas

Friday, April 15th, 2011

Here’s a look at some beautiful Spanish Gold coins with terrific potential for investment.

Alfonso XII 25 pesetas coins

Without doubt the Alfonso XII 25 pesetas coins are on the list of the most important coins in the history of Spain.
His life started with the coup d’etat on 3 December 1874 by General Pavía which brought about the end of the Republic and the establishment of the “Regency Ministry” by Antonio Cánovas, whose commitment was to re-establish the Bourbon monarchy.
All this effort culminated in the arrival in Spain of the son of Isabel II, who had ascended to the throne three years earlier while in exile.

25 Pesata coins

25 Pesata coins

With the Bourbons again at the helm, a new period started to strengthen the pesetas after 10 years of being minted only in copper and silver. This in turn saw the rebirth of the process of manufacturing in gold thereby demonstrating the maturity and growth of the new monetary system which over this period exceeded some 30 million coins.
Design of the new gold coins to be put into circulation occurred three months after the arrival of Alfonso XII by means of a Royal Decree.

Seal of Guarantee for this Currency

There were very few people involved in the design of this coin which propelled the kingdom’s economy for more than a decade. In concrete terms, there were seven experts over this period who were tasked with guaranteeing the quality of the product. Their duties required the printing of their initials on each coin, thereby certifying the process, the exact weight and its authenticity.
The nominated engraver was Gregoria Sellán Gonzalez who saw his work live on in the design of the coins of Alfonso XII and in the first two struck by his son Alfonso XIII.

The seals on these coins are the following:
Engraver: G.S. Gregoria Sellán Gonzalez

Assayers and Weigh Masters:
DE M: Eduardo Diaz Pimienta, Julio Escosura Tablares and Ángel Mendoza Ordoñez
EM M: Julio Escosura Tablares, Mauricio Morejón Bueno and Ángel Mendoza Ordoñez
MS M: Mauricio Morejón Bueno, Pablo Salas Gabarrell and Ángel Mendoza Ordoñez
MP M: Mauricio Morejón Bueno, Félix Miguel Peiró Rodgrigo and Ángel Mendoza Ordoñez

Description and wording on the Alfonso XII 25 pesetas coins

Coins from 1876

Coins from 1876

ALFONSO XII (1874-1885)
Year: 1876
Gold: Ley 900 milesimas
Diameter: 24,09 mm
Weight: 8.08 gr.
Striated edge
Obverse: ALFONSO XII – POR LA G. DE DIOS 1876/76 (between stars with six points). Head facing right. G.S. (Gregoria Sellán) shown at the bottom of the neck. Pointed fringe.
Reverse: REY CONSTL-DE ESPAÑA D.E. 25 PESETAS. Crowned, draped arms in the collar of the golden fleece and covered under the Royal cloak with the arms of Castilla, León, Aragón, Navarra and Granada; in the centre the Bourbon coat of arms. Pointed fringe. (Information extracted from Book: Gold Coins from the Collection of the Bank of Spain).

Coins from 1881

Coins from 1881

ALFONSO XII (1874-1885)
Year: 1881
Gold: Ley 900 milesimas
Diameter: 24.11 mm
Weight: 8.07 gr
Striated edge
Obverse: ALFONSO XII – POR LA G. DE DIOS 1881/81 (between stars with six points. Head facing right. G.S. (Gregoria Sellán) shown at the bottom of the neck. Pointed fringe.
Reverse: REY CONSTL-DE ESPAÑA D.E. 25 PESETAS. Crowned, drapped arms in the collar of the golden fleece and covered under the Royal cloak with the arms of Castilla, León, Aragón, Navarra and Granada; in the centre the Bourbon coat of arms. Pointed fringe. (Information extracted from Book: Gold Coins from the Collection of the Bank of Spain).

The manufacturing of these coins started in 1876, with the King’s image being reversed in order to distinguish them from the copper and silver coins. In 1962 a special commission was made by an American company based in Switzerland who made a prepayment both for the stipulated costs and the profits. Original stamps were used with the print date of 1961 and 1962 appearing between the stars.
On the edge of the coins there is an engraving of 27 lily flowers comprised of three groups of nine each.
For the manufacturing proofs and quality check on the engravings, copper coins were used which were subsequently destroyed to avoid them being put into circulation after being gold plated.

Run Rarity BC MBC EBC SC
1876* (18-76) DM M 1,281,474 C/C 16,000 21,000 24,000 28,000
1877* (18-77) DM M 10,047,885 C/C 13,000 18,000 21,000 25,000
1878* (18-78) DM M 5,000,000 C/C 15,000 19,000 22,000 26,000
1878* (18-78) EM M 3,192,442 C/C 16,000 20,000 23,000 27,000
1879* (18-79) EM M 3,447,644 C/C 16,000 20,000 23,000 27,000
1880* (18-80) MS M 6,862,947 C/C 14,000 18,000 21,000 25,000
1881* (18-81) MS M RR/RR 1m. 2m. 3m. 4.5m
(Table extracted from the Book: The Peseta,  Basic Catalogue by José Maria Aledón)

In 1881, it was decreed that the king’s image be updated and the result of this shows a great difference compared to the initial one from 1876. Such differences were not so noticeable in the mints from 1876, 1877, 1878, 1879 and 1880 where only slight changes can be seen to the head and features of Alfonso XII.

Run Rarity BC MBC EBC SC
1881* (18-81) MS M 4,266,234 C/C 16,000 19,000 24,000 28,000
1882* (18-82) MS M 413,741 E/E 35,000 18,000 65,000 140,000
1883* (18-83) MS M 668,855 E/E 30,000 19,000 70,000 145,000
1884* (18-84) MS M 1,032.744 E/E 30,000 20,000 45,000 100,000
1885* (18-85) MS M 502,613 E/R 95,000 20,000 140,000 375,000
1885* (18-85) MS M 491,143 R/RR 180,000. 2m. 375,000 1.1m
(Table extracted from the Book: The Peseta,  Basic Catalogue by José Maria Aledón)

After his death, all the coins (with the exception of the 2 pesetas) continued to be minted upon the order of his wife, Maria Cristina of Habsburg, until 1886 when his son Alfonse XIII was born and a year later Sellán made the first design with the image of the successor and thereby resumed the task of manufacturing the coins, a period which saw the issuing of the 20 and 100 pesetas coins.

Why do we consider that this is a good coin to buy?

The 25 pesetas coin is one of the most popular in the catalogue of gold coins which are currently in circulation in Spain, and which are also in demand from individuals from other countries who are interested in its historical and financial value. Given that it is one of the most known, its premium can increase considerably in times of crisis, thus acquiring values which are attractive and well-positioned in the world of offer and supply, which happened with the Napoleon in France, for example, and which can reach a premium of 100% during times of crisis.

We should recall that the premium is the difference between the price of the precious metal from which the coin is made and its market price, and that its value depends on many factors which we have explained in our article: “The Premium on Gold Coins”.
It is a type of coin destined to be saved in the future given its good condition and quality.

Translated from an original article by Lizette Paternina



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"For a mountaineer, the important things are the effort, the posture and the muscles. The rope that holds him serves no purpose when everything works but it gives him a sense of security. In the same way, all gold does is ensure confidence; it's a safe haven."