Posts Tagged: ‘gold’

Amid global turmoil, the best ways to invest in gold

July 24, 2014 Posted by admin

Gold prices rose again last week on news of the downing of Malaysia Air Flight MH17, the latest in a series of geopolitical shocks that have sent the price of the precious metal up this year.

The price of gold rose 4 percent in the year preceding July 17. On news that the airliner had been shot down over Ukraine, it rose 1.2 percent, to $1,315 per ounce, according to Morningstar data based on the London Fix. (It’s since fallen a little as investors have started taking profits.)

The volatility is a sign of the most fundamental fact about gold. It is possibly the most emotionally-driven asset class: the refuge of apocalyptic worriers, as well as of serious traders who look at it as a portfolio diversifier and alternative to paper currency.

“You cannot discount the psychosis that exists around gold,” said Ben Johnson, Chicago-based Morningstar’s director of manager research for passive strategies. “We call it the oldest continuous 2,000-year-old investment bubble around here.”

Ray Olson Jr., a financial advisor in Midlothian, Virginia, said he fields regular inquiries about investing in gold and tries to dissuade his clients. “The problem is when they want to invest in gold is usually the worst time to invest in gold,” he said.

Read More Why Gartman likes gold, even in a bear market

The biggest knock against gold is that it is a nonproductive asset: There’s no productivity underlying its value, which is set by perceptions of its relative safety.

Olson said his clients tend to get worried about the value of paper currency and the banking system when there’s turmoil in the world. But if you’re worried, chances are others are too and have already driven the price up.

In the context of recent history, however, gold is at a low point. The price of the precious metal-historically a very volatile asset class-has tumbled in the past three years.

As the market for equities improved, the price of gold fell at an annualized average rate of 6.4 percent, according to Morningstar. Last year investors pulled $23 billion out of the largest gold ETF, SPDR Gold Shares Trust (GDL (NYSE Arca: GLD)).

“That’s a record for outflows from a single fund that I don’t think will ever be broken,” said Matt Hougan, president of San Francisco-based, by email. “There’s been a massive bloodletting in gold-related assets over recent years,” he said, but he believes gold will rise in the next few years.

Read More Gold faces ‘punishment’ if US data are strong

If you want to invest in the safe-haven metal, for whatever reason, your options continue to grow. You can seek out investment products, jewelry or buy gold coins. Demand for the precious metal in all its forms was virtually unchanged between 2013 and 2014, at 1,074 tons, according to the World Gold Council.

Here are five ways to hold gold:

According to, there are 33 ETFs that invest in gold, including GLD, the first and largest, with an expense ratio of .4 percent. DUST (NYSE Arca: DUST) and AGOL (NYSE Arca: AGOL) are two others. That’s up from 16 ETFs in 2010.

“There are a growing number of investors who use it in their portfolio,” said Johnson. The main advantage to holding gold through an investment product is liquidity.

Axel Merk, president and CIO of Palo Alto, California-based Merk Investments, said those who buy gold are usually using it as a substitute for currency. “They think the bigger risk is holding cash.”

Merk, whose firm has just introduced a new gold ETF, said he holds 40 percent of his non-real estate portfolio in gold.

There are closed-end funds that invest in gold. These funds typically trade at a discount or premium to the underlying asset, depending on the market. So if you find one trading at a discount and you believe the price of gold will go higher, this could be an option. But fees in closed-end funds typically are 1 percent to 2 percent higher than in mutual funds or ETFs.

If you are considering a closed-end fund, one of the prominent ones in the market is the Sprott Gold Bullion Fund (SPR216), said Morningstar’s Johnson. It has a three-year compounded return of -1.8 percent and a five-year return of 4.4 percent. As an illustration of the volatility typical of gold investments, consider the largest one-month gain, 14.8 percent; its largest one-month loss is -10.7 percent. It has a front load of 2 percent and a 1.09 percent expense ratio, according to the company’s website.

You can also invest in gold-mining companies (the small ones are known as junior gold stocks), but this strategy holds all the regular risks of single-stock investing, plus the added risk of investing in a highly volatile sector. As a rule of thumb, gold mining stocks can have as much as a 3-to-1 leverage to gold’s spot price to the upside up and down.

Picking these stocks takes smart due diligence. The best performers are companies with strong production and reserve growth. They must have good management and inventory supported by production.

If you want to bury the gold in your backyard or keep it in your safe, gold coins may be the way to go. So far this year, the U.S. Mint has sold more than 500,000 gold coins, known as American Eagle coins, down from last year. If you want to buy a gold coin, you have to purchase it through a network of authorized dealers that include wholesalers, brokerage companies, precious metal firms, coin dealers and participating banks.

The most popular and liquid 1-ounce coins are Krugerrands, Canadian Maples and American Eagles. The U.S. Mint provides a listing of authorized gold American Eagle bullion coin dealers. To get a snapshot of the vast market, you can browse the online marketplace APMEX.

Jewelry remains the most popular way to hold gold, accounting for nearly half of gold demand, according to the World Gold Council. The percentage of pure gold the item containsor karat number-ranges from 24K for pure gold to 10K, which means it contains 10 parts gold and 14 parts of one or more additional metals, making it 41.7 percent gold.

When buying jewelry as an investment, understand the karat amounts and how it affects the price and durability of each piece. Keep in mind: Gold jewelry is usually weighed in grams-the higher the gram weight, the more expensive the piece. Ask the retailer for certificate of authenticity to ensure you are buying a quality piece of solid gold jewelry.

Nevertheless, it’s best to buy jewelry with an eye to wearing it, not primarily as an investment. Because it is so illiquid, you run the risk of losing money on your gold jewelry if you need to sell at an inconvenient time. “You could take a major haircut on the price,” Johnson said.

Read More How to invest in gold (safely)

If you are motivated to buy gold, just be aware of what’s driving you-the desire for owning a precious commodity that can be a hedge against risk in a volatile marketplace. The good news is there are a multiple number of ways to diversify your portfolio in gold. The one you choose depends in part on how much liquidity you need.

-By Elizabeth MacBride, special to

Article source:


July 23, 2014 Posted by admin



Compiled by Joseph Passantino 

Full of bull-ion; gold in sale not real

A New York man allegedly tried to pass off a substance as gold bullion in a sale to a local merchant, police said.

On July 14 at 2:07 p.m., police were called to a jewelry store on the 500 block of Broadway by the owner, allegedly the victim of an attempt by an individual to sell him bogus gold bullion, according to Police Capt. Walter Rogers.

The man was identified by Rogers as Behor Mushiev, 49, a resident of 71st Road in Flushing, N.Y.

“The victim stated Mushiev [allegedly] attempted to sell him three metal bullions he claimed to be pure gold,” Roger said. “He conducted a test and it proved negative as far as being pure gold.”

The jeweler had contacted another store in the area, and was apprised that an individual had also allegedly tried to sell them fake gold bullion and was similarly rejected, according to Rogers.

An officer asked Mushiev for identification, and he allegedly produced both New York and Florida driver’s licenses, bearing two different names, according to Rogers.

At that point, police requested that Mushiev return to Bayonne Police headquarters with them. An interview was conducted, and at the end of it detectives charged Mushiev with one count of theft by deception, one count of criminal attempt, and one count of false government document, the alleged fake Florida license he produced for the business owner, Rogers said.

Mushiev was released on a summons.

Light rail rider charged with assault on officer and fare evasion

A 17 year old was taken into custody following an incident at the 8th Street light rail station during which he allegedly struck a police officer, police said.

On July 17, at 11:37 p.m., officers working a light rail detail asked the Jersey City teenager if he had a valid ticket to be on the train, and he was allegedly unable to produce one, according to Capt. Walter Rogers.

“Officers advised the 17 year old that he’d be issued a summons for fare evasion,” Rogers said. “At this point, the train entered the station and officers asked him to step out onto the platform.”

At first he complied, but then he allegedly told the officers to write the ticket because he was in a hurry, according to Rogers, who said the youth allegedly stood in the train doorway and leaned on it, blocking the train from leaving station.

“Officers repeatedly asked him to step away from door,” Rogers said. “They attempted to guide him away from door. At that time, he [allegedly] cursed at an officer, swung his arm back, and struck the officer in the left shoulder with his elbow.”

The youth was then placed in handcuffs, taken into custody, and escorted to police headquarters without further incident, according to Rogers.

The 17 year old was charged with aggravated assault on a police officer and fare evasion, Rogers said.

The Hudson County juvenile intake worker was notified, and she released the youth to his guardian.

Dash for basketball leads to injury from bus

A 13-year-old Jersey City boy was accidentally hit by a NJ Transit bus after he chased after a basketball he was dribbling that bounced into the street, police and witnesses said.

The incident occurred on July 16 at 5:51 p.m. in front of 20 East 53rd St.

The bus driver said she was traveling east on 53rd Street when she observed a basketball roll in front of the bus, at which time she immediately applied the brakes to her vehicle, according to Capt. Walter Rogers.

“She [allegedly] observed a pedestrian walk in front of the bus,” Rogers said. “However she was unable to completely stop before striking him.”

Another witness, seated in the back of the bus, said she allegedly observed the pedestrian bouncing the ball on the sidewalk, losing control of the ball, and following it into the street, at which point he was allegedly struck by the bus, according to a statement taken by police.

The child was transported to the Jersey City Medical Center to be treated for injuries. His father was on the scene at the hospital.

At the time of the report, medical personnel stated that the youngster had sustained several lacerations to his head and a possible broken right arm, Rogers said.

No summonses were issued to the bus driver.



Article source:

New Boothbay Harbor jewelry store features Maine tourmalines

July 22, 2014 Posted by admin

A new jewelry store in town is featuring hand-crafted artisan jewelry, much of it featuring Maine tourmaline. Gabriel Adams, who had a shop in Augusta for four years, recently opened Gabriel’s Jewelry Studio in Boothbay Harbor.

On Friday, July 18 Adams was working on getting his new hand-built cabinets finished in the space at 49 Commercial Street, across the street from Kaler’s.

“I specialize in handmade jewelry,” Adams said. “I do have a solid amount of tourmalines, but I can get about anything on planet Earth.”

He recently purchased a large amount of raw (unpolished) tourmalines that came from a mine in Newry. Discovered in 1972, the tourmaline mine on Plumbago Mountain was the biggest tourmaline discovery in the state’s history. “It’s what put the Maine tourmaline on the map,” Adams said.

A tray of the unpolished gems showed what looked like pretty pink and green stones with a white powdery exterior. Each stone takes around three hours to polish, and he polishes them one at a time.

According to Adams, there were a lot of big “watermelon” crystals discovered at the Newry mine. “When people think of Maine tourmaline those are the colors they think of — the pretty pastel pinks and greens.”

Unfortunately tourmalines in those colors are becoming rare, if not gone entirely.

“That color combination hasn’t been found in a long time. You can find tourmaline all over the globe,” Adams said. “But the tourmaline from Maine is well known for its bright pastels, and they’re not finding it. There is none. I can’t stress that enough.”

All of Adams’ hand wrought jewelry is one-of a-kind. At present Adams is working on a line of jewelry he calls “Twisted.” He shows a bi-color 12 karat tourmaline of blues and greens, with gold and silver curlicues twisted around the stone. “The design will keep changing, but what I’ve done here is completely envelop the stone in metal without using any prongs.”

Adams is originally from Prospect and has been a goldsmith since he was 17. He got his start in a jewelry store in East Orland.

His wife will be helping out, and his two daughters will be around some, too. “The two girls are hilarious,” Adams said.

Recently his three year-old daughter, Evonne, tried to jump-start her father’s business.

“When we got business cards, Evonne became infatuated with them.”

Adams gave her a handful. She approached him with a fistful of them. “Daddy, I have to give these cards to the people. It will make them so happy,” she said to Adams.

She took them outside the shop and held them out to passers-by, saying, “Would you like a card? Do you want to come in my daddy’s store?”

“If I tried to make her do that — not in a million years,” Adams said.

The work space at the rear of the store will be open for customers to see his work in progress, and there will be a case in the front window that will feature a TV screen. He’ll mount a GoPro camera in his work area. “So while I’m making jewelry people walking by will be able to see me torching jewelry together in real time.”

Adams said he will be moving away from making classic jewelry. “I still like being commissioned to do custom work like engagement rings, but I want to keep the jewelry fun. I want to have jewelry that’s out of the ordinary.”

Five years ago he helped run a shop down the street, Harbor Stones, and said that he missed the harbor while he was in Augusta. “The locals here are really fun, and the people from away are all here for the same reason — because it’s beautiful, and they want to have good times and some good food and drinks and shop. And I want to sell them pretty things.”

Adams plans to stay open through Christmas to see how it goes. “I don’t know if the town needs me to be here year-round, but I’ll certainly entertain the idea.”

Article source:

Hasbro to Collaborate With 3-D Printing Company to Sell Artwork

July 21, 2014 Posted by admin

c.2014 New York Times News Service

In the not too distant future, 3-D printers may provide the public with anything from a whole new wardrobe, to meat, to furniture — and even human organs.

We aren’t there yet. But a few major retailers and brands, eager to keep pace with a potentially game-changing technology, and generate a bit of marketing buzz, have begun to explore this 3-D world.

One of those early experimenters is Hasbro, which plans to announce Monday a partnership with a 3-D printing company, Shapeways, to sell fan art inspired by its long-lasting toy line My Little Pony.

“We have been investigating 3-D printing for quite a while, as have many people,” said John Frascotti, chief marketing officer at Hasbro. “What 3-D printing truly empowers is the creation of artwork that maybe wouldn’t make sense for mass production, but it makes sense for a unique item.”

For this project, which Frascotti described as “mass customization,” the company will start with five artists whose work will be available for order online and printed in a colorful plastic polymer that Shapeways executives describe as feeling similar to sandstone. The designs must be cleared with Hasbro to ensure they are not obscene, violent or hateful, but otherwise, the artists largely have free rein. Even the price for the figurines will be set by the artists.

One piece that will be available for sale beginning this week on the project’s website shows a perky, purple dragon named Spike standing on a pile of books in front of a tall table with a quill pen in his hand. (According to his official bio, Spike has an inexplicable ability to send and receive messages when he burps.) The piece is called “Spike, Take a Note.” Another piece is a blue and purple unicorn with a luxurious mane.

Hasbro hopes to expand the partnership to include more artists, more of its brands and other materials, given that Shapeways prints using everything from high-end plastics for iPhone cases, to gold for jewelry and ceramic for coffee cups.

The advent of 3-D printing has created enormous potential for sales, but it also creates a raft of new opportunity for theft, especially of intellectual property. Why go out and buy a doll if you can just print one yourself? But instead of snapping a tight lid over its characters, Hasbro’s collaboration with Shapeways may extend the reach of its trademarks while keeping control of what is associated with the brand.

“Instead of trying to prohibit it, they’re enabling it, and I think that’s awesome,” said Peter Weijmarshausen, chief executive of Shapeways. “By embracing this new technology, it’s good for everybody. The end-user is happy because he or she gets what they want, and we don’t get into a fight.”

While 3-D printers are largely new to the public, retailers and other companies have been using them behind the scenes for years. Target has a few at its headquarters in Minneapolis. They are about the size of a large refrigerator and are used by the company’s design team to make prototypes. Frascotti said Hasbro has some industrial 3-D printers for similar purposes.

Target does not sell 3-D printers, but a spokesman for the company said it was an area they were “actively monitoring.” Other retailers have recently decided to sell the printers to consumers.

Home Depot has been selling 3-D printers by MakerBot on its website for several months, and last week it announced it would begin selling them at stores in a few major cities like New York and Los Angeles. These printers, which use a plastic derived from corn, start at $1,375. When a MakerBot prints, it smells like waffles, according to the company’s chief executive, Bre Pettis.

These printers for the home are often about the size of a microwave oven and can be used to make items like fashion accessories, utensils and replacement parts for bicycles or musical instruments.

Wal-Mart has begun experimenting with a 3-D printer’s potential for producing excitement among shoppers.

At the opening of several Sam’s Club locations this year, 3-D printers will offer a treat to shoppers: after a face scan, they can put resin printouts of their head on the action figure-size body of one of three Marvel characters (Iron Man, Captain America or Black Widow). The traveling printer parade began this month at a store outside Fort Worth, Texas, and one in Montgomery, Illinois.

Sucharita Mulpuru, an analyst at Forrester Research, said many of these retail forays into consumer 3-D printing are more about “novelty and excitement” than about a serious shift in business models.

Mulpuru said “3-D printers today are like the Apple IIe,” referring to an early Apple computer. “It had the green screen and was all DOS commands — not the interface we’re used to today.

“It’s Chapter 1, or the prologue, to the home 3-D printing world,” she continued, “but I do think it will transform our lives in the future.”

Article source:

Web of lies: Antiques dealer snared many in his con

July 20, 2014 Posted by admin

Museum story

For most of his life, 72-year-old Bob Willey collected and sold Civil War artifacts – buttons and belt buckles, firearms and swords.

Last fall, Willey heard about Cain’s antiques mall and decided to get one of his booths.

One day, while Willey was setting up his booth, Cain took one of his Confederate rifles out of the display case, took a photograph of it and said he was going to put the picture up on the Internet to help sell it.

“He told me he did that, and that was fine with me,” Willey said. “It seemed like he was working to make things sell for me.”

After that, Cain told him some guy down in Mobile, Alabama, wanted a bunch of Willey’s Confederate memorabilia, especially the rifle and a sword, to use in a museum he was opening.

Cain said he would drive the items down to Mobile himself, and while he was there, he would put together a gold deal, if only Willey would give him $63,000.

Willey did, along with some more guns and swords. Cain called him two days later, supposedly from the road. The gold is at the refiner, Cain claimed, and a cashier’s check would be headed to Fort Wayne in just a few days, as well as the money for the artifacts.

“Joe never went to Alabama. There is no museum,” Willey said. “Never was.”

Willey went to Florida on a previously scheduled trip, sending his wife over to the store to pick up a $139,700 personal check from Cain, which he would then hold for a few days. The check would be redeemed by Cain later in the week, he’d been promised.

“He tells me the money is in the bank, but it’s being held by the IRS,” Willey said.

Each visit to the store, there were more reasons why the money wasn’t available, Willey said.

Then, on one last visit, Willey arrived at the store to be told by Cain’s mother that his son had been kidnapped from his elementary school in southern Indiana and Cain wasn’t there.

Willey had enough.

“This time I was doubting his story,” he said.

Willey called the sheriff of the county in question. Nope, there was no kidnapping.

Around the first of December, Willey went to local detectives, and started meeting with other people in similar situations.

One woman, he said, lost $80,000 to Cain. A man lost $52,000.

“It is a mystery as to where the money went,” he said. “I’m sure the IRS would be happy to know.”

Article source:

Old North End jeweler crafts magical backyard studio

July 19, 2014 Posted by admin

Sarah McRae drove to Burlington from Vershire Thursday,coming to the big city for wedding rings.

McRae, a nurse and horse farmer, didn’t come here to shop on Church Street. Her destination was a jewelery studio in the Old North End, a backyard art space created by goldsmith Jane Frank.

The studio is called Werkstatt, which is the German word for crafts workshop. Werkstatt opened in the spring at Frank’s Spring Street home. Frank, 41, is originally is from Hamburg, Germany, but moved to Burlington seven years ago. She came to marry and start her family.

Frank built the backyard workshop with her father during his visits from Europe. Her 3-year-old daughter, Ella, helped too.

They transformed a run-down garage into a workshop with a jewelery bench at which half a dozen people can work. This is where Frank crafts jewelery after she puts her daughter to sleep, and where she teaches the craft in classes or private instruction.

For McRae, it had been about 25 years since she last made jewelry, having done it a bit in high school. She found Frank online while investing places where she might give it a go again.

“I came with some ideas, and my fiance was really into the idea of me making the rings,” McRae said. “He’s not one who’s into diamond and glitz.”

Werkstatt, glitz-free, is a hidden gem in the heart of the city.

The transformation of Frank’s garage into a studio involved gutting the structure, putting up Drywall, building a new floor and installing a woodstove. Frank and her father put in cabinets and built a jewelry bench, with individual work spaces shaped in half circles. In a bold construction move, they cut a big hole in the back wall of the shop.

“We looked at the hole-in-the-wall and we were like, ‘Wow,’ ” Frank recalled.

The hole-in-the-wall, fitted now with a sliding glass door, opens into the garden. This is where Frank’s dog Charlie hangs out with roaming chickens. Flowers and vegetables grow along the garden wall and in raised beds. Berries and melons are ripening. A hammock hangs in the shade of trees.

If a student — or master jeweler — needs a break from sawing or soldering, they can walk outside to lie in the hammock, pick berries or drink iced tea at the picnic table.

“That’s what I like about the setup,” Frank said. “A huge motivation for (renovating) the garage was to make this environment.”

The home workshop complements another space where Frank works: She belongs to Alchemy Jewelry Arts, a collective on Howard Street with studio and retail space.

The construction of Werkstatt — turning what looks like a wreck into a beautiful and useful thing — suggests the method Frank employs designing and making her jewelry. Frank often uses objects she finds at yard sales — old buttons, ceramic shards, cast-off pendants — and transforms them into elegant pieces.

“I’m not a power person, but that is a nice way of having power,” Frank said. “I take something that’s abandoned, but it has so much beauty. I can make something else out of a thing you don’t want.”

She was a “hands-on” kid growing up near Hamburg. She loved building things — caves and castles — and knew she wanted to do something creative.

“I’m not a desk person,” Frank said. “I like flexibility.”

When she finished school, Frank traveled to Greece for a couple of months. She met street vendors, including a German couple “who had given up everything” to make jewelery and sell it on the street.

The couple was staying at a house with grapes growing on the roof, by a field of olives. “I still get goosebumps thinking about it,” Frank said.

One section of the U-shaped structure housed a jewelry workshop. Frank walked into shop and was instantly captivated and inspired by the space and its contents: a jewelry bench, tons of little drawers, small tools you might think are unusable — but which she imagined using.

The German man made an earring for Frank. She watched him craft the silver piece, and was mesmerized by the process.

Frank returned to Germany and got a job folding newspapers. She worked nights for four weeks, earning about $100 a week. With each $100, she imagined the tools she would purchase.

“I ordered a little pliers,” she said. “And a solder.”

As Frank began to make jewelry on her own, she set about the parallel effort of applying for an apprenticeship with a goldsmith. “I was very determined that this was what I want to do,” Frank said.

Five years later, at age 26, Frank was accepted by a goldsmith named Jan Bierschenk.

“I was very, very lucky to get along with a very good goldsmith,” she said.

He’s known for his ability to solve design problems for other jewelers, Frank said.

People would come to him and say, “I don’t think there’s a solution,” she said. “And he would go, ‘Duh, duh, duh!’”

Her own work method involves sitting on the floor, laying out her things before her — small found objects, a sketch book, maybe some tools — to see how the pieces work together.

“I love how you can focus on this little space that you have, you can develop what you have in your brain — just a thought — and it can be there exactly the way you want it,” Frank said. “Or not the way you want it. … I like the tools. I like the privacy you can create when you’re working.”

She is jeweler who made her own wedding earrings, a shimmery and loose set of chains that have developed into a line of glorious high-end chandelier earrings.

“I fell in love with the flow of the chains I made,” Frank said. “I stepped it up and the made the chandeliers.”

The three-tier disks of 18-carat gold include a piece with 24 tiny loops soldered on the disk.

Frank uses a soldering iron whose heat she controls by her breath. The precision and minutae of the work cost Frank some vision, she said only half jokingly. (The chandelier earrings sell for about $550 a pair in silver, and $3,500 in gold, she said.)

These days, the jeweler who doesn’t know which hand wears the wedding band, has a growing number of people coming to her workshop interested in crafting their own rings.

“When I moved here it was more, ‘Does he love me one carat? Does he love me two carats?” Frank said.

As people work on their wedding rings, the pieces become more meaningful to them, Frank said. Through the creative process, the jewelry comes to possess individual and personal characteristics, she said.

“Jewelry is considered such a luxurious item,” Frank said. “But being in contact with my students, I’m realizing how personal it can be. There’s actually more to that than I thought in the beginning.”

She has a piece with this kind of meaning and connection: a gold and garnet ring that belonged to her grandmother. It was the first ring her grandmother bought, and it was “super special for her,” Frank said.

She doesn’t wear it because she doesn’t want to lose it.

Contact Sally Pollak at or 660-1859;

Information:;; email:

Article source:

Man tried to sell fake gold bullion: police

July 18, 2014 Posted by admin

A New York man was arrested after police said he tried to swindle Bayonne jewelry stores into buying fake gold bullion.

At around 2 p.m. Monday, Behor Mushiev, 49, walked into a jewelry store in the 500 block of Broadway and attempted to sell three pieces of metal that he claimed were “pure gold,” police said.

When the store owner tested the metals for their authenticity, the results were inconclusive, police said.

But the owner was suspicious, so he contacted another nearby jewelry store owner and learned that Mushiev had also attempted sell the metals there, police said.

When police officers arrived, Mushiev agreed to accompany them to police headquarters, police said.

Mushiev was found to be in possession of a fraudulent Florida license and additional metals, police said.

Police placed Mushiev under arrest, and charged him with one count of criminal attempt, one charge of theft by deception and one count of possessing a false government document, police said.

Mushiev was then released, police said.

Article source:

New York man tries to hawk fake gold bullion in Bayonne, police say

July 17, 2014 Posted by admin

A New York man was arrested after trying to swindle Bayonne jewelry stores into buying fake gold bullion, according to police.

At around 2 p.m. Monday, 49-year-old Behor Mushiev walked into a jewelry store in the 500-block of Broadway and attempted to sell three pieces of metal that he claimed were “pure gold,” police said.

When the store owner tested the metals for their authenticity, the results were inconclusive, police said.

But the owner was suspicious, so he contacted another nearby jewelry store owner and learned that Mushiev had also attempted sell the metals there, police said.

When police officers arrived, Mushiev agreed to accompany them to police headquarters, police said.

Mushiev was found to be in possession of a fraudulent Florida license and additional metals, police said.

Police placed Mushiev under arrest, and charged him with one count of criminal attempt, one charge of theft by deception and one count of possessing a false government document, police said.

Mushiev was then released, police said. 

Article source:

Police: Woman stole 10 purses, $3K in jewelry

July 16, 2014 Posted by admin

ROCKINGHAM — A Richmond County woman is accused of stealing 10 purses, $3,000 in jewelry and a flat-screen television during a break-in at a city apartment.

Rockingham police last week charged 31-year-old Toni Marie Everett of 129 Deanna Lane outside Rockingham with forcing her way into an Ann Street apartment on March 17. Everett stole personal property with a combined value of $4,900, according to a warrant for her arrest served July 10.

Police say Everett took a 32-inch Magnavox flat-screen TV, assorted gold jewelry, $1,500 in cash and 10 purses during the March break-in. Officers charged her with one count each of felony breaking and entering, felony larceny after breaking and entering and felony possession of stolen property.

Everett was released from prison in November 2011 after serving a 6-month sentence on Richmond County convictions of misdemeanor breaking and entering and acting as an accessory after the fact to common-law robbery, according to the N.C. Division of Adult Correction.

Records show Everett also has been convicted of assault inflicting serious bodily injury. Most recently, she received probation on an April 2011 conviction of identification card fraud.

Everett has pending felony charges of selling cocaine, possession with intent to manufacture, sell and deliver cocaine, misdemeanor larceny and misdemeanor assault inflicting serious injury in Richmond County, court records show.

She was jailed on the break-in and theft charges under a $10,000 secured bond and is scheduled to appear in court Friday.

Corey Friedman

Article source:$3K-in-jewelry

How a piece of apartheid history became jewelry

July 15, 2014 Posted by admin

Robben Island, where Nelson Mandela was jailed for 18 years, is an indelible part history—and now it’s business.

In 2009, South African artist Chris Swift saw that the steel fence surrounding the infamous jail was being loaded on to a ship to be discarded. He took the fence, cut it up into pieces and stored it to make into large art installations, and some he is selling to companies that turn it into art for sale. Much of the fence Swift was used for one of Swift’s pieces, “Nelson’s Column,” which stood outside the city hall in 2010:

Nelson's Column 1

While Swift’s public installations aren’t for sale, he’s given rights to others to buy his fence to be sold off as art for profit, prompting some to question whether it’s wrong to cash in on the country’s biggest symbol of apartheid history. One writer called it apartheid porn, “where any bit of memorabilia associated with our history of oppression is turned into a cash cow.” But some have lapped it up, including the government authorities and some international celebrities.

From the Robben Island Fence (run separately, but in close collaboration with Swift’s Robben Island Arts Company Trust (RIACT), you can buy pieces of the fence framed alongside a painting of Nelson Mandela by  artist Marc Alexander. In some pieces, as in the one called “Day Off” (below center), the piece of fence is attached to the canvas. Each piece of fence is cut and numbered by Swift, and each artwork (also signed by Alexander), is sold with a certificate of authenticity. The works sell for between $500-$2,500. 

The art that recently made news is called the Legacy Collection features bangles, cufflinks, and necklaces made by jeweler Chairmaine Taylor covered in silver or gold. Taylor runs Legacy Collection independently and buys pieces of fence from RIACT. Her jewelry sells for between and $230-$7,770. Paula Abdul owns the Rights Pendant and Grace Earrings in gold:

Actress Frances Fischer also bought two pieces of Taylor’s jewelry.

Yvonne Johnston, the marketing director at the Robben Island Fence, says she doesn’t understand the ethical dilemma. “Would people rather the fence was thrown away, that would have been sacrilege.” And she won’t shy away from the fact that this is for profit. “Of course, this is a commercial venture, we’re all allowed to make a living, aren’t we? We spend our time in South Africa complaining that artists die poor, it’s a fantastic thing to be able to give artists a living.”

At this point, the only artists who make money from the venture are white. Johnston admits that this is an oversight and they are working to right by broadening their scope. The organization, she says, will also to start giving 10% of its profits to Awethu, an NGO that develops local entrepreneurs.

RIACT never sells raw pieces of the fence to individuals and prefers bulk sales of art to once-offs. “Just recently the South African presidency bought a large number of artworks to give to a visiting delegation,” said Johnston. All the company wants, says Johnston, is to give artists another channel through which they can get their work out.

But it’s not as easy as that, and Johnston herself says, that all these questions about ethics and history are helping them fine-tune their young business model. “It makes me realize more how important this is (the work being linked to the name of Nelson Mandela). It helps me see what the market really cares about.”

Follow Joonji on Twitter @joonji. We welcome your comments at

Article source: