When you see the denomination of $1 on a silver bullion coin, whats that all about? It's called face value. Matt explains! Buy all your favourite gold and silver bullion from your favourite bullion dealer at www.bullionnow.com.au/store
@kevinthomson58652 жыл бұрын
Thank you very much guys.
@wsf6992 жыл бұрын
It’s the amount written on the coin. The end.
@greenerell484 Жыл бұрын
5:04 oh that makes sense
@spacelord19132 жыл бұрын
This creates an interesting loophole. One could buy a car from a car yard with a gold coin of trivial face value, since it's legal tender after all. Technically, the price of the car would be the denomination on the coin. This would reduce stamp duty requirements to the buyer, and income from the car yard, who could actually claim a loss on the vehicle. If the government is going to put absurd denominations on the coins (which is basically a form of criminal fraud) they need to accept the consequences.
@greenerell484 Жыл бұрын
well
@dereksbooks Жыл бұрын
I think doing this would hurt the recipient of the gold when it comes time to sell the gold. If you receive $1m worth of gold with face fiat value of only $50k for a used car, then your capital gains of the same gold that you sell in a decade at $2m would net you capital gains of $1,950,000 instead of just $1m. I'm unsure where any loophole would benefit the consumer here. If it's a form of money laundering, then the giver of the gold could just slide it into the pockets of the receiver. No exchange of a used car is required.
@thehunters97862 жыл бұрын
Great work boys👍👍
@robertoh.202 жыл бұрын
Mark Dice has already done the choc vs bullion experiment on the street, same with some gold coins. it's in his youtube channel
@bobikdylanАй бұрын
I have a Swiss 1000gr silver bar. There is a stamp saying face value 75$. What's that all about?
@silverlover58172 жыл бұрын
Thanks for the video..........
@Geologistandcoins2 жыл бұрын
So when importing and exporting these, how can the government charge based on the bullion or sale price for gst when the government has also stamped it with their value of $1? Shouldn’t they legally use their own determined value for this
@BL-pu8wv2 жыл бұрын
Hi Guys- question Bullion coins minted in Australia as legal tender by the local mints(PM & RAM) is there any legal clause that states they need to release a percentage or a set number of coins for sale in Australia ? e.g RAM produced 250 gold desert scorpions this month but none was available for sale in Australia. Even though it’s legal Australian currency it’s not released for sale here which seems odd
@AndyGraceMedia2 жыл бұрын
No it's all at the discretion of the Treasurer according to the Currency Act, 1965, and that kind of thing is to make it more exclusive -that's all.
@The-Lovelace-Covenant9 ай бұрын
so if i were to sell my 1oz silver coins to a coin shop, will the $1 face value coins only sell for $1 or will i get the value of the 1oz of silver instead?
@petergracemeguide12802 жыл бұрын
Don't forget the currency is backed up by an FA 18
@sachinkainth9508 Жыл бұрын
By "legal tender" does that mean you can go into a shop and buy stuff with a bullion coin?
@sachinkainth9508 Жыл бұрын
Oops, I should watch till the end before asking questions. They answered that a little later on.
@theprogressivegoldbug11342 жыл бұрын
If the face value came even near the spot price, they’d effectively have re-established a gold/silver standard..I believe there are some French silver Euro coins issued by the Monnaie de Paris that come a lot closer to a face/spot match. I could be mistaken.
@voidremoved2 жыл бұрын
I want a $1 gold coin that I need a microscope to see is face value. That would be cool
@philiprachtman12172 жыл бұрын
its more fun putting a silver coin in the garter than a $5.00 note
@frankhayward67582 жыл бұрын
Australian 5, 10 & 20c coins have an intrinsic value (nickel & copper) of 90% of face value. That's less premium than the silver kangaroo. So can't say that our currency doesn't have intrinsic value. 🤑
@AndyGraceMedia2 жыл бұрын
That's why the plan is to completely get rid of circulating coinage. Never mind a gold or silver standard, we can barely keep a copper/nickel standard. Inevitably inflation will push the price of both metals above face value and it has happened already a few times. The 1c and 2c are both now more valuable than face. The best theoretical investment is to withdraw a million bucks worth of 20 cent coins and stash them away somewhere. But even that is taken care of!!! Currency Act 1965. Despite being legal tender you are not allowed to pay for anything in more than $5 using 10c, 20c or 50c coins. Crimes (Currency) Act 1981 "A person shall not, without the consent, in writing, of an authorized person, intentionally deface, disfigure, mutilate or destroy any coin or paper money that is lawfully current in Australia."
@7Hellzz2 жыл бұрын
Why did they chose such a low face value of just $1 ? At least make it $10 since its a troy ounce of pure silver at the end of the day.
@philiprachtman12172 жыл бұрын
I give my strippers the silver coin
@topgopnik Жыл бұрын
The reason the goverment does this is so they can come and "not" confisciare your metals for $1. Long live the queen lol
@harryzero15662 жыл бұрын
Face values are meaningless, a sovereign doesn't have a denominated amount, common knowledge know that it used to represent a British pound. When a currency value is engraved and pressed into existence it doesn't even represent any value (normally). A currency value merely indicates that a coin was produced by the official mint of a particular country. I have a 10oz coin with a £10 denomination and a kilo coin with a £500 denomination. Curiously there is an exception, the Royal Mint produced face value £100, £50, and £20 silver coins that do not cover or represent the intrinsic value of coins. They were minted to be sold at face value, but though declared legal tender, were marketed as commemorative coins, not meant for general circulation. If you go to KZfaq channel Julian Chamberlain, you can experience the issues of using 'high' value denominated legal tender coins being used to settle debts for goods and services.
@dolan47094 ай бұрын
You lot didn't explain anything. You don't actually know do you? Like wtf? You wasted my time a little here as well as some of my data costs.