Monday, April 02, 2012

Precious Metals Knowledge Centre

Precious Metals Knowledge Centre

Gold as a Reserve Asset

>> Background and history
>> Why central banks hold gold
>> Central bank agreements on gold
>> European monetary union and gold
>> Monetary history of gold


World Gold Holdings – volume and value

Latest statistics on sales under the Central Bank Agreements on Gold


The Evolution in Central Bank Attitudes toward Gold by Jill Leyland
Structural Change in Reserve Asset Management by Natalie Dempster
Gold as a Hedge against the US Dollar by Forrest Capie, Terence C Mills and Geoffrey Wood
The IMF and Gold (Revised Edition) by Dick Ware
Gold as a Store of Value by Stephen Harmston

Further Reading > Downloads

What Has Government Done to Our Money?

Author: Murray Rothbard
1963, 119 pages
In this short book, you learn just what money is, what the best form of money is, and most importantly: why governments always move to control money.
Download PDF Version


The Case for a 100 Percent Gold Dollar

Author: Murray Rothbard
1962, 72 pages
Learn why gold, throughout the centuries, has always emerged as the ultimate money and why today the dollar needs to be backed 100% by gold.
  Download PDF Version

The Case Against the Fed

Author: Murray Rothbard
1994, 151 pages
Another Murray Rothbard masterpiece explains the evils of the Fed and fractional reserve banking.
Download PDF Version

What You Should Know About Inflation

Author: Henry Hazlitt
1960, 151 pages
Although first published fifty years ago, this book continues to refute the common Establishment positions about inflation. If this book doesn't convince you that inflation is a money/credit phenomenon, nothing will.
  Download PDF Version

Economics in One Lesson

Author: Henry Hazlitt
1946, 206 pages
Originally published in 1946 and republished in 1986, this is another Hazlitt classic text that has helped millions of Americans understand basic economics and the free market. Despite the title, this is not a boring read.

Download PDF Version

Intermediate Selections

The Mystery of Banking

Author: Murray Rothbard
2008, 291 pages
Discusses banking fundamentals, how expanding money supplies in the past have led to booms followed by busts. It concludes with a chapter that dismembers the Fed. (Any discussion today about banking mandates a discussion of the Fed.) If this book had been used as a college text over the last two decades and discussed honestly in classrooms, fractional reserve banking and the Fed would already be history.
If you already have a grasp of money, start with The Mystery of Banking. Still, the other short Rothbard books are better primers.

The Origins of the Federal Reserve

Author: Murray Rothbard
2009, 120 pages
This book is chapter two in Rothbard's History of Money and Banking. Rothbard reveals that the Fed did not originate as a response to national need, as was publicized, but was established by government officials and large financial/banking interests for their own benefit, along with paid-for economists gave the scheme a scientific patina.

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The Inflation Crisis and How to Resolve It

Author: Henry Hazlitt
1978, 190 pages
Originally, intended to be a rewrite of the 1960 What You Should Know About Inflation, this book not only clarify just what inflation is but also dispels Establishment-promoted notions that someone other than the Fed and fractional reserve banking is responsible for inflation.
Download PDF Version

History of Money and Banking in the United States

Author: Murray Rothbard
500 pages
Here's what the Ludwig von Mises Institute says about this scholarly treatise: Rothbard traces inflations, banking panics, and money meltdowns from the Colonial Period through the mid-20th century to show how government's systematic war on sound money is the hidden force behind nearly all major economic calamities in American history. Never has the story of money and banking been told with such rhetorical power and theoretical vigor.
This is not the first book you want to read on money, but it may be the last to you have to read to be completely convinced that of the nefariousness of fractional reserve banking and paper money.
Download PDF Version

America's Great Depression

Author: Murray Rothbard
1963, 337 pages
If not Rothbard's magnum opus, certainly his most controversial book because it dismisses the myth that Roosevelt's New Deal lift us out of the Great Depression. This book is more about economics than money; it is a great read.
  Download PDF Version

Human Action: A Treatise on Economics

Author: Ludwig von Mises
1949, 912 pages
Here's what the Ludwig von Mises Institute says about this book: the most important book on political economy you will ever own. It was (and remains) the most comprehensive, systematic, forthright, and powerful defense of the economics of liberty ever written.
  Download PDF Version

The Theory of Money and Credit

Author: Ludwig von Mises
1953, 493 pages
Mises shows how money had its origin in the market, and how its value is based on its usefulness as a commodity in exchange. In a step-by-step manner, Mises presents the case for sound money with no inflation, and presents the beginnings of a full-scale business cycle theory.
  Download PDF Version

The Monetary Sin of the West

Author: Jacques Rueff
1972, ** pages
Rueff, a financial advisor to Charles de Gaulle when he was president of France, played a significant role in forcing Nixon to abandon the gold exchange standard in 1971. France and other European nations were redeeming U.S. dollars at a rate that threatened U.S. gold reserves. The title reveals what the book covers.
Most copies of this book sell at collector prices. Look for pdf copies on the Internet.
Download PDF Version

Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

Author: Charles MacKay
1841, ** pages
This is the bible on bubbles. The Mississippi Scheme, the South Sea Bubble and the Tulipomania chapters deal not only with human emotions that result in bubbles but also the inflation that is necessary for bubbles to happen.
Download PDF Version

The Mainspring of Human Progress

Author: Henry Grady Weaver
1943, 388 pages
The true story of progress for the human race with acute understanding of the fundamental causes: freedom and capitalism, which led to unimaginable creativity and the spreading and creation of wealth, which has not occurred under any other system.
  Download PDF Version

Recommended Reading 

The Power of Gold: The History of an Obsession
by Peter Bernstein
Publisher: John Wiley & Sons
432 pages, paperback

At every stage of human history, Gold has played a role. From the ancient fascinations of Moses and Midas through to the modern convulsions, gold has led many of its most eager and proud possessors to a bad end. Gold is a metaphor for the eternal quest for wealth witnessed in our own time as we idolize the quick millionaires among us.

The Official Red Book, A Guide Book of United States Coins
by R. S. Yeoman
This book is in its 62nd year as the numismatic reference of choice. Professionals and enthusiasts alike look to this �one-volume library� to tell them coin rarity and value. Collectors rely on it for its full-color photographs and detailed technical data. The Red Book covers the history and values of colonial and early American coins, half cents through silver dollars and gold, commemoratives, Proof and Mint sets, errors, Civil War tokens, territorial gold, state quarters, presidential dollars, and other U.S. coins, with essays on Counterfeits, grading, investing, auctions, and more. Pricing for more than 6,000 individual coins More than 700 full�color photographs Updated values, mintages, and auction records Expanded coverage of commemoratives, sets, and other coins New state quarters and Presidential dollars First Spouses gold bullion coins 24k gold American Buffalo bullion coins Full Color, 429 Pages, edited by Kenneth Bressett. Spiral Bound.

The Official American Numismatic Association Grading Standards
for United States Coins

6th Edition
An easy-to-use grading standards for every United States coin, official publication of the ANA. This book contains important information on:
  • Brief highlights of wear pinpointed for each grade
  • Easy-to-follow descriptions for thirteen standard conditions
  • Black and white photographs show progression of wear
  • Easy-to-use guide shows how to grade U.S. coins quickly and accurately
  • Lists every type of U.S. coins from 1793 to the present
  • Aspects of grading to all U.S. coins
  • Indispensable aid to the proper grading of all U.S. coins
  • Beginners, advanced collectors and dealers will all find the text understandable and useful

Coin Collecting for Dummies
by Neil Berman and Ron Guth
This book covers the essentials of coin collecting at an affordable price and escorts you through the world's oldest hobby, covering topics such as how to decide which coins to collect, ways to protect them, buying and selling on the internet, attending coin shows, to assembling and diversifying your collection.
Discover how to:
  • Store your collection correctly
  • Understand how age affects value
  • Locate rare and expensive coins
  • Get savvy with avoiding fakes
  • Get kids or loved ones involved 

Portable Wealth: The Complete Guide to Precious Metals Investment
by Adam Starchild
Publisher: Paladin Press; ISBN: 0873649591; (1998)
"None of us wants to watch our hard-earned money go up like paper in the wind. Open this book and discover how precious metals can add weight and substance to your investment portfolio in a time when very little is considered solid or certain.
It could be worth its weight in gold."
This book is currently in print and can be ordered at

The New Precious Metals Market: How the Changes in Fundamentals Are Creating Extraordinary Profit Opportunities
by Philip Gotthelf
Publisher: McGraw-Hill Professional Publishing; ISBN: 0786308400; (1998)
Excerpted From the Back Cover:
The New Precious Metals Market is an exhaustively researched, one-of-a-kind book that explains why gold and silver have underperformed while stock prices have soared and bonds have offered hefty yields. With an understanding of the new and strikingly different forces at work behind the precous metals scene, you can be prepared for the next explosive price movement. Learn how to benefit from the these critical developments: Central Bank Divestment of Gold and Silver Reserves--Cut through the confusion to determine if the massive selling of national precious metal stockpiles is a “buying opportunity” or a “distress signal”. Environmental Impact on Platinum, Palladium, and Silver—The world is increasingly concerned about clean air and water. See how this factor can translate into a demand for platinum and palladium. Discover how “ratio demand” for these metals may change to provide exceptional profit opportunities.
...The New Precious Metals Market gives you the knowledge, and the edge, to compete and win in today's new and exciting investment marketplace.
(Currently Out of Print) Try your local library, used book seller or purchase used at online auctions: see for auction details.

The investor's encyclopedia of gold, silver, and other precious metals; how to invest successfully in all forms of precious metals by Robert H. Persons.
Publisher: Random House
(Currently Out of Print) Try your local library, used book seller or purchase used at online auctions: see for auction details.

The ABCs of Gold Investing: Protecting Your Wealth Through Private Gold Ownership
by Michael J. Kosares, John Ritland (Illustrator), Rod Colvin (Editor)
Paperback Publisher: LPC; ISBN: 1886039291 (1997)
Midwest Book Review:
Now for the first time under one cover, novice investors will find thorough guidelines for making good decisions about private gold ownership. In The ABCs Of Gold Investing, gold investment expert Michael J. Kosares (with 25 years experience in the field) emphasizes the asset preservation qualities of gold at a time when investor uncertainty about the economy has led many to seek asset diversification. The ABCs Of Gold Investing covers a range of topics, from understanding gold's role in combatting inflation and deflation to how to select a gold firm. Kosares also examines reasons why gold has become an essential in many American portfolio and why that trend is likely to continue, The ABCs Of Gold Investing is further enhanced for the novice investor with photos, illustrations, index, bibliography, and an appendix. Highly recommended.
This book is currently in print and can be ordered at

Recommended Bullion Links

Northwest Territorial Mint Precious Metals Monthly
Combining market summary information and insightful analysis, Northwest Territorial Mint Precious Metals Monthly is a monthly e-mail newsletter that offers an insider’s perspective on the numbers, trends, and moves that drive the precious metals market, allowing you to stay on top of the most important investment news each month without investing hours of your precious time.

Financial Sense Online
Cited by Barron’s as one of the top financial websites to visit on the weekend, Financial Sense provides free educational resources to the broad public audience through editorials, current news and resource links on salient financial market issues. Begun in 1985 as a local talk radio program, Financial Sense Newshour is now a free weekly webcast with host Jim Puplava and top financial thinkers. contains the insightful opinions and commentary of David Morgan, a widely renowned precious metals analyst. Well-respected throughout the industry as a pundit and author, his views on investment, metals, and fiat money have been featured in all media – television, print, radio, and online. His Morgan Report Newsletter can be read here each month.

International Precious Metals Institute
The International Precious Metals Institute (IPMI) is the largest association focused on precious metals in the world. Providing a forum for the exchange of information and technology, this member-supported organization is an association of precious metals producers, refiners, fabricators, scientists, financial institutions, users, and investors. In addition to sponsoring conferences, seminars, and other educational events, IMPI publishes a monthly newsletter.

International Platinum Association (IPA)
Founded in 1987 and headquartered in Frankfurt, Germany, the International Platinum Association (IPA) is a non-profit organization that seeks to foster greater awareness worldwide of the many uses of platinum and related platinum group metals (PGMs). The IPA's flagship web site, linked here, provides news about the PGM industry, descriptions of platinum-based technologies, information about industry events, and links to additional educational resources. is a finacially oriented web site that specializes in precious metals commentary. Bill Murphy, Cafe Founder, is Chairman of the Gold Anti-Trust Action Committee.

Silver Institute
The U.S. Mint
Royal Canadian Mint

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