During the time I spent at ITM Trading as Senior Analyst, placing gold coins and rare gold coins in the hands of my clients, I heard it all. ITM Trading advertises on radio stations across the country, primarily on talk radio shows, and we invite the listeners to call in with any questions they may have, and by establishing a rapport and earning their trust, we hope to earn their business. We answer their questions about why invest in gold, rather than other investments, and sometimes they buy gold bars or gold bullion. As you may expect, the callers have varying understandings of gold bullion. Some seek an education, some have preconceived ideas that are hard for them to shake, yet others call in just to argue finance or politics. As Miranda Lambert sings in one of her songs, “It takes all kinds of kinds…” Here are some of the myths or common misunderstandings that I came across, and the truths that will dispel them.

Gold Bullion Is Anything Made Of Gold, Like Jewelry And Gold Plated Silverware.
Perhaps in the past this was the case. We have probably all seen pirate movies where the whole premise is to find the treasure chest full of gold coins, gold necklaces, golden chalices, diamonds, and perhaps emeralds. I believe from my limited education revolving around pirates, that the correct term for the contents of this chest now would be “Booty”. Today we have the IRS, and the myriad of laws and regulations that they are constantly adding too. In America at least, they decide what gold bullion is, and this is what they say: Jewelry is jewelry, not gold bullion. All gold bars are gold bullion, unless they have a significant historic value, then they are collectible antiques. If a modern gold coin is produced by a mint, and not a government, it is gold bullion. If a modern coin is produced by a government and is not produced as legal tender of that country, it is gold bullion. If a gold coin is antique, rare and unusual, it is not gold bullion. Gold plated items like silverware or candelabras are not gold bullion.

Gold Is Worthless, And Cash Is King
Gold has been money for over 6000 years of recorded history. Today we have other forms of wealth and currency, but they can all be valued in terms of gold ounces. Central banks around the world hold gold in their vaults. Fort Knox was built to hold some of America’s gold bullion securely and protect it from pillage by other countries. There were gold coins and gold bullion being held in vaults under the Twin Towers, and after 9/11 massive excavation ensued to recover it. China and India are both buying gold bullion in a frenzy. I am a trillionaire. No, truly I am. At one time one of the other Senior Analysts ordered some Zimbabwe Currency that was recently printed during their bout with hyperinflation, and he walked around the office making trillionaires out of us all! The truth is you cant print real wealth.

If you have been wondering “Why invest in gold?” or have questions about rare gold coins and gold bullion, or want to buy gold bars, call ITM Trading. ITM Trading makes owning gold easy.