Selling Gold/Silver And Update On Regia Russia Agro Fund Ltd

Selling Gold and Silver

I am selling some gold and silver this week to free up funds for the Russian agricultural fund I am starting.

If possible, I would like to avoid the time and energy involved in setting up ebay auctions (I would rather finish the major article I am working on). So if anyone is interested in buying directly from me (via Paypal or a bank transfer), I am selling:

7 ounces of gold (7 coins)

  • 1 oz US $50 Gold Eagle
  • 1 oz US $50 Gold Eagle
  • 1 oz US $50 Gold Eagle
  • 1 oz Canadian Maple
  • 1 oz 1977 Krugerrand
  • 1 oz 1977 Krugerrand
  • 1 oz Krugerrand

200 ounces of silver (2 bars)

  • 100 oz Academy Precious Metals .999 Silver Bar
  • 100 oz Academy Precious Metals .999 Silver Bar

I am looking for prices close to close to current ebay prices for 1 oz gold and 100 oz silver. Here is another link for a site which tracks gold/silver prices on ebay.

Email me if you are interested. Otherwise, I will put them on ebay later this week.

UPDATE: August 19, 2009 10:07 PM

I have found a buyer for the gold and silver. Thanks to everyone for their interest.


Update on Regia Russia Agro Fund Ltd

The process of setting up Regia Russian Agro Fund Ltd is moving along smoothly (see: *****Setting Up a Fund to invest in Russian Agriculture*****). Last week we finalized the fund's:

A) Certificate of Incorporation
B) Memorandum and Articles of Association

We are still on track for going live on September 1st. This week we are finishing the Private Placement Memorandum and subscription documents as well as opening an account at Goldmoney to receive funds.

Due Diligence Requirements For Subscribers

As a heads up, there will be due diligence requirements for subscribers of Regia Russia Agro Fund Ltd. Because of the BVI's Anti-Money Laundering Code 1999, new Investors are required to establish and authenticate their identity with the fund's administrator. In order to avoid a delay in the acceptance of subscriptions, all subscribers are requested to enclose the following information with their applications.

As an example of what to expect, below is extract from the subscription documents of another BVI (have a look at the full document if want to familiarize yourself with BVI subscription documents).

In order to comply with the Anti-Money Laundering Code 1999 (as amended), New Investors are required to establish and authenticate their identity with the Administrator. Therefore in order to avoid a delay in the acceptance of subscriptions, all subscribers are requested to enclose the following information with their applications.

Individuals

Passport (*Certified copy)
Utility Bill (Original or *Certified copy)
Occupation
Source of Funds

Again, the subscription documents for Regia Russia Agro Fund Ltd should be ready later this week.


Finishing major article

My sister (journalist at AFP in Moscow) is off visiting Jesus of Siberia for a news story. I hear there are a lot of mosquitoes out there this time of year, and I am glad I am not going. Anyway, I will have lots of free time over the next three days, so I will try to wrap up the major article I have been working on.

This entry was posted in Important_Announcement. Bookmark the permalink.

17 Responses to Selling Gold/Silver And Update On Regia Russia Agro Fund Ltd

  1. Numonic says:

    By the way that 24hgold.com site is not really a good site for prices. I noticed it doesn't take in to consideration the amount of metal being put up. So when you see an extremely high price for an ounce, it's not necessarily that price, actually click on the link of the actual item being bid on to see what is being bid on. That being said, I did once see a roll(20 ounces) of 1996 silver eagles bid up for $850(that's $42.50/oz). This was back last fall. I've seen a few high prices on Ebay.

  2. Anonymous says:

    Here in Europe, Ebay prices for PM are higher than what you pay when buying from normal PM online stores. So Ebay is not a good reference.

  3. Anonymous says:

    Eric, would you update your view on gold and silver. If one holds a lot of Renminbi and Euro, is it a good thing to do buying gold?

    Thanks

  4. Anonymous says:

    I dunno who buys at those prices on ebay when they can buy at major online dealers for less and without the risks associated with ebay.

  5. Bowtie says:

    Call up Jim Rodgers he's all about starting farms.

    I like buying on ebay, just make sure the seller has alot of good feedback, and get coa's.

  6. James says:

    Sorry for being persistent but Can anybody explain how come when the stock market slides - gold spot price goes down and USDX shoots up and vice versa ? Anybody been noticing this lately ?
    Thanks

  7. stibot says:

    James, ask youself to obtain answer: if USD loose eg. 90 % of its "value" (it remains 10 %), what do you expect in general to happen with price of food, gold, stocks, etc?

  8. Bowtie says:

    James: stocks slide thats a liquidation meaning people think dollars are more valuable than their stocks. It depends what they do with those dollars after, if they all went out and bought gold then gold would go up. However this may be irrelevant. Murry Rothbard stated that dollars are priced in terms of gold.

  9. Anonymous says:

    @James

    Gold is seen as an investment to preserve ones cash so as stocks slide (in a big way) most of time people would flock to gold.

    In times of war or rumors of war people flock to go because that means disruption of services and goods will happen.

    Given this then one should understand that gold is tied to the value of the dollar, so as the value of the dollar goes up the price of gold goes down. And it would be the opposite for when dollar goes down...

    Now to answer your question:

    There are two factors that you need to look at...

    (1) Gold's relation to the dollar: Today the dollar has come down .334 of a point and thus gold has gone up 3.90 (as of this writing).

    And (2), you have to look at how wildly held the belief is that this global recession is over with...

    When people start to accept that this global recession is over with, and that it will not turn into a global depression, or that the dollar will collapse, you will see movement away from gold.

    But if the opposite should occur, those that stood on the side lines in "wait and see mode" will rush to gold and the price will go up.

    Reason (2) is why I believe we don't see gold sitting at the 1k mark (or more). But still enough people believe that things are still bad out there that the price of gold is quite high (viewing from the past, not going forward).

    However, with that said, daily fluctuations in gold prices (anything under or above 10 points) is due to dollar's value...

    And yet when you see a large drop in the price of gold... say 30 points (or more)... you can bet some central bank had to sell some of its gold to meet an obligation - say like buying treasuries for example...

  10. Bowtie says:

    Eric, how did you make a search that allowed you to see auctions that already ended?

  11. James says:

    Thanks Anon, appreciate the help. It's just that it seems lately there has been a direct tie between the stock market and gold spot price. They seem to go parallel with each other recently.
    I know this may sound stupid but since the US gov manipulate all our data, is it possible that when the US stock market crashes = gold spot price will crash also ?

  12. Anonymous says:

    @James

    What you are asking is about a phenomenon that occurs, which is when the stock market goes down people turn to treasuries (aka the dollar).

    They do this because there is a better return on treasuries, short and long-term, then what is thought stocks would bring...

    If this happens in great mass when the next leg down occurs (which might happen as people who were disillusioned by the idea that things are getting better mantra)... you would see commodities take a dip...

    (The question now is to ask why treasuries over commodities... the answer varies and I hope someone could chime in on this, but one is that its cheaper and two is that TIPS account for inflation so joe blow investor might see them as more attractive then commodities. Remember joe blow is risk aversive.)

    But the problem with this is... government reaction to this will most likely be to spend (because they will still be fighting a deflation scenario then - in the short-term) and the eventual result is likely to be a rush out of the dollar (by those that have been warning of such things)... or so it is believed (because such action will put the last nail in the coffin in the belief that our government could actually make good on its debt obligations).

    In such a case a dollar collapse would occur and gold will shoot to the moon (shortly after), as well as with other commodities.

    The truth is our government is in a rock and a hard place at this time and if any event pulls one way or another (more deflation, or a ramp in inflation) stronger then what they expected it could be the tipping point...

  13. Anonymous says:

    @James

    I also forgot to mention that if the next leg down occurs and people go to treasuries...

    Another reason is because rates will (eventually) have to increase to fund such government spending... which is bad because it could trigger inflation...

    Again there are other reasons too... and hope that someone will add to it...

  14. James says:

    You the man Anonymous :-)

  15. Anonymous says:

    Here come the woman
    With the look in her eye
    Raised on leather
    With flesh on her mind
    Words as weapons sharper than knives
    Makes you wonder how the other half die
    Other half die
    Here come the man
    With the look in his eye
    Fed on nothing
    But full of pride
    Look at them go
    Look at them kick
    Makes you wonder how the other half live

    The devil inside
    The devil inside
    Every single one of us the devil inside

    The devil inside
    The devil inside
    Every single one of us the devil inside

    Here come the world
    With the look in its eye
    Future uncertain but certainly slight
    Look at the faces
    Listen to the bells
    Its hard to believe we need a place called hell, a place called hell

  16. Anonymous says:

    @James

    It's important to note that any government bond/treasury is backed by the full faith of the government, hence it should never be defaulted on.

    This fits with the idea of joe blow investor bring risk aversive.

    He assumes that his investment will be payed in full no matter what the economy does.

  17. Bowtie said...
    Eric, how did you make a search that allowed you to see auctions that already ended?

    It is one of the options on the left side. Most ebay seller (and a lot of buyers) use this figure out what is selling at what price. It is very useful.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>