Goldline International

Dear Mr. Fazio,

Just wanted to express my gratitude for your wonderful company and your exceptional employee, [Account Executive].  [My Account Executive] is one of the nicest, most honest and helpful representatives I have ever dealt with….in any manner.

L.R., Pennsylvania, 08/10/09

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[My Account Executive] became our Goldline International advisor in early 2009…

On various occasions he has phoned us to call our attention to news articles concerning current trends in the gold and silver markets.…  He has taken the time to explain, what to us is a new venture, and never tires of answering our questions…  With [my Account Executive] we feel we are more than account number.  He is very personable and speaking to him is like speaking with a friend…We have and shall continue to recommend him to all our friends.

Mr. & Mrs. S. D., Mississippi, 07/18/09

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To Whom it May Concern: I wanted to tell someone at Goldline International how happy I am that I became a client. After talking to [my Account Executive], I felt much more confident in opening an account. She was very knowledgeable, and patient with me. She would telephone to be sure my investments arrived, and to answer any questions I had.  I have told several friends and family members about Goldline, and [my Account Executive], and hope they too will soon become clients.

L.T., California, 08/26/09

I’m writing to tell you about my experience buying gold through your company…When I called I was put in touch with [my Account Executive].  He immediately made me feel very comfortable, answered all of my questions and explained everything thoroughly.  [My Account Executive] really made me feel very at ease and confident that I was doing the right thing.  [Account Executive] always follows up to be sure I’m happy with my purchase and… goes the extra mile….

K.L.M., Maryland, 07/16/09

Another great review about Goldline International.

I started my account with Goldline International… I am a very new customer.  The fact Glenn Beck and Mark Levin both recommend you highly is definitely good enough for me.  My personal experience so far after three different transactions was very satisfactory.  My account representative… was very pleasant to work with.  I am novice with precious metals he explained everything very well to me and very patiently.  He always called me back for follow-up and to check on my shipments.

As a matter of fact I was so satisfied that I recommended Goldline to my boss, who consequently also started an account with [my Account Executive] and did his first purchase this month.

J.D.R., Texas, 07/20/09

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Just wanted to let you know how pleased we’ve been with [our Account Executive’s] services.  He is loaded with information….  We are now proud gold coin owners, thanks to him!

He is charming, intelligent and a definite asset to your operations….

Please give him our regards,

Mr. & Mrs. J P., New Jersey, 07/20/09

A great review demonstrating the excellent service you’ll find with Goldline International.

I just wanted to commend [my Account Executive]…Her help in getting me [through] the purchase…was wonderful, in her patience in dealing with an artist…who needed lots of personal communication, to help me develop the understanding of which products were best for me.  She conveyed a sense of friendliness that reminded me of talking to an old friend…  Please recognize that her talent for taking extra time talking, and getting to know the customer is an invaluable attribute!

A.G., Colorado, 07/17/09

It has been a wonderful experience in doing business with Goldline.  I have been interacting with [my Account Executive] and he really made me feel confident about whole gold and rare metal market….

The first trade that I did to venture into the rare metal market was through [Goldline] International and [my Account Executive] made sure that I was aware of all the terminologies and trends in this market, being a newbie in this market, I had plenty of questions and each of them were patiently answered by [my Account Executive]…made sure that I was aware of the market trends, growth rate, coin v/s bullion advantages and disadvantage, Research reports that have been published regarding this market and the analyst estimates for this and coming quarter.

The best thing that I really appreciate and respect is that I never felt an aggressive and compulsive marketing effort…it was…very well organized information sharing and counseling which I received from [my Account Executive] and based on the discussion I decided to enter into the market with my first trade.

I will surely recommend [Goldline] to all my friends and colleagues who want to venture into Gold market.

Thanks and all the very best

A. K. D., New Jersey, 07/19/09

I wanted to take this opportunity to express my appreciation to [my Account Executive] for her time, patience and expertise…Her personal and professional attention is the reason I have had such a positive experience. [My Account Executive’s] dedication to service along with other peripheral staff I have had the pleasure working with, must be the reason for Goldline’s success.

Goldline was recommended to me by a respected source, and certainly has lived up its stellar reputation.  This kind of commitment to the customer must filter down from the top, kudos to the management of Goldline.

I look forward to a long and profitable relationship with Goldline.

D. B., Connecticut, 07/15/09

By Robert J. Fazio, Executive Vice President

We are honored to welcome former U.S. Mint Director Jay Johnson to the Goldline team.

As the 36th Director of the U.S. Mint, Jay managed the multibillion dollar manufacturing business for the U.S. government. Under his supervision, the U.S. Mint produced a record 26 billion coins in the fiscal year 2000-2001 along with a record “profit” of $2.6 billion dollars.

Jay is also a former U.S Congressman from Wisconsin and a long-time award-winning news broadcaster and recipient of an American Numismatic Association Presidential Award.

Among his various duties for Goldline, Jay will present video blogs discussing important developments in the coin and precious metals markets. Check Goldline’s website, www.goldline.com, for new editions of Jay’s blog.

To commemorate Jay’s addition to the Goldline team, we have devoted this article to a brief history of the United States’ Mint and notable facts regarding American coins.

America’s First Mint and Coinage

The federal government’s power to coin money and regulate its value comes from the U.S. Constitution which was signed in 1787. It would take five years, however, before Congress created the United States Mint and authorized the first U.S. coins: gold Eagles, Half Eagles and Quarter Eagles; silver Dollars, Half Dollars, Quarter Dollars, Dimes, and Half Dimes; and copper Cents and Half Cents.

The first mint was located in Philadelphia which, at that time, was the nation’s capital.

The first U.S. coins struck by the Mint were silver “half dimes”. Legend states that the silver used for these coins was donated by President and Mrs. Washington.

The Mint’s first circulating coins were minted in 1793 and consisted of 11,178 copper cents.

Three new branches of the Mint were authorized in 1835 following the growth in the South after the discovery of gold in the early 1800’s. All three mints closed after the Civil War.

Following discovery of gold in California, mints were opened in San Francisco and Denver. The Mint’s administrative headquarters were moved from Philadelphia to Washington, D.C. in 1873.

Congress authorized the Mint to manufacture coins for foreign governments in 1874 provided such minting did not interfere with U.S. coin production. The first foreign coins were struck for Venezuela. Since then, foreign coins have been struck for more than forty governments.

There are currently five active mints: Philadelphia, San Francisco, Denver, West Point and the Bullion Depository at Fort Knox.

Fort Knox

Fort Knox is famous for being the United States’ principal gold bullion depository. However, this 109,000 acre military base also houses the Army Armor Center and is home to the U.S. Army Recruiting Command.

The United States Bullion Depository at Fort Knox is a high-security facility (among other things, no visitors are allowed to the Depository) which is under the supervision of the Director of the U.S. Mint. The building is equipped with the latest protective devices. The Depository has its own emergency power plant, water system and other facilities. The presence of the Army units, including more than 30,000 soldiers and associated tanks, artillery and attack helicopters, provide additional protection to this fortified facility. The two-story Depository contains a steel and concrete vault that is divided into compartments. The vault door weighs more than 20 tons. No one person is entrusted with the combination.

Housed within this vault are approximately 147.3 million ounces of gold with a current market value of approximately $132,570,000,000. Interestingly, the United States lists the “book value” of this gold at $42.22 per ounce. The standard gold bar in Fort Knox weighs approximately 400 ounces, or 27.5 pounds.

U.S. Gold Coins

The first gold coins minted by the United States included $10, $5, and $2.50 denominations. The last U.S. gold coin to be minted before the United States lifted its ban on private ownership of gold was the 1933 “Double Eagle” $20 gold coin.

These coins were struck after President Franklin Roosevelt’s infamous 1933 Executive Order confiscating all gold bullion and coins with limited exceptions including “gold coins having a recognized special value to collectors of rare and unusual coin….” Because ownership of bullion coins was illegal under the 1933 Executive Order, the U.S. Mint destroyed all but two of the 1933 Double Eagles. Or so it was thought.

Unbeknownst to the Mint, a small number of the Double Eagle coins were smuggled out of the Mint. The Secret Service actively tracked and recovered a number of these coins. One Double Eagle, however, made its way to a British coin dealer who claimed he acquired it from the King of Egypt’s collection. After lengthy litigation, the coin dealer and the U.S. government agreed to auction the coin which was sold in approximately nine minutes for a final sales price of $7,590,020.00. (Jay Johnson, then Mint Director, signed the agreement leading to this momentous auction.) The auction price included a $20 fee to “monetize” the coin so it was once again legal tender.

Modern U.S. gold coins are given a dollar denomination even though the gold value greatly exceeds the face value. For example, the gold American Buffalo, which contains one ounce of pure gold, has a face value of $50. All gold coins minted by the U.S. Mint, including commemorative coins, are legal tender.

In God We Trust

The first U.S. coin to bear the motto “In God We Trust” was the two-cent coin minted between 1864 and 1873. Later, Congress passed the Coinage Act of February 12, 1873 which authorized the Secretary of the Treasury to “cause the motto IN GOD WE TRUST to be inscribed on such coins as shall admit of such motto.”

The use of “In God We Trust” has not been uninterrupted. The most notable exception occurred in 1907 when President Teddy Roosevelt ordered “In God We Trust” removed from the Saint-Gaudens $20 gold coin believing that it “cheapened” the motto to include it on coins. Despite his motivations, the public construed the omission of this motto as an attack upon religion. The resulting uproar quickly led to a Congressional act restoring the inscription which was added in mid-1908.

The motto also disappeared from the fivecent coin in 1883, and did not reappear until production of the Jefferson nickel began in 1938. Since 1938, all United States coins bear the inscription with one notable exception.

In 2007, an unknown quantity of newly minted George Washington dollar coins omitted the motto which is inscribed along the coin’s edge. The so called Washington Error Coins were also missing the phrase “E Pluribus Unum,” the year and mint mark. Although the exact number of Washington Error Coins is unknown, they are believed to be just a fraction of the 300 Million Washington $1 coins minted.

You can learn more about historic and modern gold coins by calling Goldline at 1-800-827-4653.