Posts Tagged: ‘gold’

Vietnam issues new standards on gold jewelry

April 24, 2014 Posted by admin


Vietnam’s government issued specific ingredient requirement for gold jewelry after gold shops and traders began cutting corners to attract customers with low prices.

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Thanh Xuan
Thanh Nien News

Article source: http://www.thanhniennews.com/society/vietnam-issues-new-standards-on-gold-jewelry-25537.html

Meet Paula Mendoza, the Whimsical Jewelry Designer

April 23, 2014 Posted by admin

In the video for “XO,” Beyoncé wore piles of gold jewelry — but it’s one rattlesnakelike bracelet slithering up her wrist that stood out from the pack. It’s the work of Paula Mendoza, a Colombian jewelry designer who, in only a few years, has amassed a loyal following among fashion editors and stylists.

A former journalist, Mendoza became interested in jewelry about a decade ago, and went to Peru to learn the craft. Soon after, she began producing pieces made from local materials at a studio in her hometown of Bogotá. In 2006, she moved to Washington, D.C., where she sold pieces to diplomats — but it wasn’t until she moved to New York in 2012 that her recognizable serpentine pieces really took off. (This season, Net-a-Porter began carrying her namesake collection for the first time.) 

Mendoza spoke to the Cut about how she got started, that time she thought she’d been Punk’d, and the power of Instagram.

Article source: http://nymag.com/thecut/2014/04/meet-paula-mendoza-whimsical-jewelry-designer.html

Extremely Rare Coins from a Long Forgotten US Mint

April 22, 2014 Posted by admin

Did you know there used to be a mint in Dahlonega, Georgia? Many people don’t. The short-lived mint only issued three types of gold coins, making them exceptionally rare. In fact, gold coins produced at Dahlonega are some of the most sought-after collectable coins in the U.S.

Like many of the original U.S. mints, the mint in Dahlonega was created to take advantage of a gold rush. The Georgia Gold Rush of 1828 left the area rich with yellow gold, but the Dahlonega mint didn’t release its first coin until April 21st, 1838. Other mint branches opened up in Charlotte, North Carolina, and New Orleans, Louisiana, that same year.

The Dahlonega mint produced 80 $5 golden Half Eagles its first year. Even by pre–Civil War standards, 80 coins a year was a small mintage. The next year they began striking $2 ½ Quarter Eagles. The first golden dollar was produced at Dahlonega in 1849. These were the only three types of coins ever minted at Dahlonega and the mint produced very few of each coin. Combined with the fact that they were all yellow gold coins, you can see why these coins are exceptionally rare and valuable.

Dahlonega continued to produce coins until the start of the Civil War in 1861 when Confederate soldiers overtook the mint. Though it’s unknown exactly how many coins Confederates issued, this fascinating aspect certainly adds to the allure of these special coins. The last year any coins were issued from Dahlonega was 1861. After the end of the Civil War, it was decided not to reopen Dahlonega as a mint location.

In its entire history from 1838 to 1861, the Dahlonega mint issued fewer than 3,000 total coins, which is why these are some of the rarest coins in U.S. history. On February 27th, 2014, an “AU-50” 1861-D Half Eagle was sold at an auction for a total of $38,187.50.

Are you interested in investing in coins? Or do you just want to talk about coin history with someone as passionate about collectable coins as you are? Well, if either is true for you, come into Bellevue Rare Coins. We’d be happy to answer questions, give advice or just discuss some fascinating facts about coins. 

 

Bellevue Rare Coins specializes in gold buying and dealing in rare coins. We are a family-owned business located in Bellevue and Lynnwood. We also buy and sell silver, diamonds, currency and jewelry. Visit us first for a free evaluation.

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Article source: http://www.kirotv.com/news/lifestyles/why-2014-proof-sets-are-hot/nffJC/

Drexel students’ goPuff app brings smoking, snacking convenience to your door

April 20, 2014 Posted by admin

For your average graduating senior, this time of year can be the toughest in the whole of the college experience, owing that honor to dreaded finals and the even more dreaded coming job search. For soon-to-be Drexel grads Yakir Gola and Rafael Ilishayev, both 21, though, it’s been immeasurably more hectic thanks to their recently launched and ever-expanding app-based delivery service goPuff, now serving about 25,000 users throughout Philadelphia.

“Doing homework in between everything has been tough,” says Ilishayev, “but it’s doable as long as you’re willing to sacrifice. For us, it’s mostly been our social lives.”

Such is the swan song of the start up. But while Ilishayev and Gola have offered up their own social enjoyment, in many ways it has been for the betterment of that of Philly’s college students and young professionals looking for a late-night snack or hookah session without leaving the comforts of their own home.

Since its soft launch in October 2013, goPuff’s stock of wares has ballooned to 700 offerings, ranging from salty snacks, candy, and party cups to full-size hookahs, e-cigarettes, rolling papers, and shisha tobacco. As goPuff’s site describes the service, it is essentially “your one-stop puff-shop.” With on-demand delivery that encompasses a large majority of Philadelphia, that “your” is more or less universal around here.

“We have a huge delivery radius,” says Gola, “pretty much anywhere in Philly. Except the Northeast.” And until 4:20 am, too.

Just download the app (also on iTunes) or use the site to make an order, sit back, and you’ll have your delivery in about 20 to 30 minutes. On busy nights, that number can increase to up to 40 minutes, but Ilishayev insists that “it never reaches an hour”—and, of my three orders placed over the weekend (for science, of course), that appears to be true. For an app with a delivery service behind it that was only conceived of during its co-founders’ sophomore year Business 101 class, that ain’t too shabby.

To hear them tell it, though, it seems like their whole lives have added up in combinational experience to goPuff. Ilishayev, of Russian descent with a background in restaurant and banquet hall industry, brings the “logistics of getting the groceries in.” Gola, of Israeli descent and son to Joe the Jeweler—the “original cash for gold” guy—started his dad’s jewelry sale website which he says went on to do “pretty well.” Which, given Joe’s presence in Philly and online in the topic of getting cash for gold, is a modest assessment.

Both credit their cultures’ “ubiquitous” embrace of hookah as the driving force behind their decision to start goPuff around a shisha and smoking accessories format. Update that ancient social act with some modern technology and a healthy dose of convenience, and in their eyes goPuff is necessarily the result. Around here, though, the idea is still new—not necessarily a bad thing for the goPuff guys, who Gola says are “the only ones doing this.”

“We’re early adopters for this kind of thing in the states,” adds Ilishayev.

As early adopters, however, some blowback is to be expected. GoPuff’s innocuous flirting with the 4:20 element of pop culture in their marketing combined with offering a relatively minimal selection of headshop-y fare like grinders, papers, and essential oil e-pens recently caught the attention of Phillymag, which wrote that goPuff “connects drug users with drug paraphernalia.”

To be fair, that assessment is technically correct (the best kind of correct!), though tobacco is probably most often the drug in mind. goPuff, after all, does not sell glass pipes or bongs—the predominant way kids tend to like to “get down” these days. The rolling papers section occupies a solitary shelf in the company’s warehouse, and the same goes for their selection of grinders, vaporizers, and essential oil pens. These products are not their bread and butter.

That honor goes to snacks, which make of 55 percent of sales, by Ilishayev’s calculation. Another 40 percent goes to smoking accessories, mostly hookahs and shisha, and then another five percent to miscellaneous stuff like cups, ping pong balls, and playing cards. The more salacious stuff is, as the goPuff guys say, out of convenience for the customer.

“It was hookah first,” Ilishayev says. “Rolling papers, vaporizers, everything else like that came afterwards because customers were asking for it.”

This concept is otherwise known as “give the people what they want,” and is no different a policy (and, in a lot of ways, a more restricted version) than those followed by South Street’s beloved smokeshops, or any gas station you can name. To admonish a company for delivering things to people that may well be stoned of their own accord makes an equal amount of sense—that is, if we’re not going to get on Dominos case for supplying high men with hot pizzas while we’re at it, anyway.

In any case, whatever handwringing that has come about has been minimal. The successes have been larger, and goPuff’s expansion has officially moved beyond the confines of Philadelphia and into Boston, a fellow college city that the co-founders believe could easily accept the goPuff model as it currently stands.

“Boston is very similar to Philly in terms of college students, “ Gola says. “It’s a similar market, and for us to do this there will be easier than any other city.”

So easy, in fact, that the Boston service is expected to start delivering snacks and shisha within the next few months. As Ilishayev says, however, goPuff won’t just stop at Philly and Boston—it’s just a matter of time and capital.

“We’ve thought about New York and LA,“ he says, “and people have been calling to franchise us out in Colorado. Formula 420 wants to franchise our business out there, but I’m not ready for the marijuana thing and that’s not how we want to grow.”

However they grow, though, the goPuff guys will always count Philadelphia as their home base. Their experience in the start up laboratory that is Philly has, thanks to the quick response and growth they’ve seen over the last fives months, emboldened their confidence in the business they initially sketched out drunk one night after a party.

“Philadelphia is a proof of concept to us,” Ilishayev says. “If it works here, it can work anywhere.  

Article source: http://www.philly.com/philly/blogs/lifestyle/Drexel-students-goPuff-app-brings-smoking-snacking-convenience-to-your-door.html

Hot Sell Jewelry Set Now Available on Beijing Ayong Jewelry Store

April 19, 2014 Posted by admin

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http://www.aliexpress.com/store/product/Classic-Design-Water-Drop-Natural-Opal-Stone-Jewelry-Sets-Opal-Stone-Necklace-Earrings/703253_1554942862.html

Classic Design Water Drop Natural Opal Stone Jewelry Sets ( Opal Stone Necklace Earrings)

Hot Sell Jewelry Set Now Available on Beijing Ayong Jewelry Store

Beijing, China (PRWEB) April 19, 2014

Recently, Beijing Ayong Jewelry Store, one of the three stores of aypearl, has announced a new series of hot sell jewelry sets, with unique design and fashion style.

These jewelry sets have their own style and beauty, and the color and the design are various! Come and choose one set for yourself or your beloved person.

About Beijing Ayong Jewelry Store

As the leading supplier of women’s jewelry, Ayong’s concept is to make women more beautiful. Good customer service, high-quality, fast delivery, and competitive prices, are the reasons to choose Beijing Ayong Jewelry. Welcome to buy jewelry from Beijing Ayong Jewelry Store.

Contact Beijing Ayong Jewelry

86-10-58697219

City: Beijing

Country: China

Postal Code: 100022

Email: aypearl(at)gmail(dot)com

Address: 2801 Building 8, Jianwai SOHO,39 East 3rd-Ring Road, Chaoyang Dist., Beijing, China

For more information, please visit: http://www.aliexpress.com/store/703253

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Article source: http://www.prweb.com/releases/2014/04/prweb11764126.htm

3 face charges after IRS raids luxury-car dealership

April 18, 2014 Posted by admin

Federal authorities say owners of a luxury car dealership in Scottsdale took bags of cash from undercover agents posing as drug dealers and agreed to launder money through unreported vehicle sales.

Brothers Hamid and Saeid Salari of Luxor Auto Group were arrested Wednesday on money laundering, conspiracy and currency-violation charges. A third man, Farah Isaac, who owns a jewelry store and works with the Salaris, was arrested on similar charges.

The Salaris and Isaac “conspired with each other and other individuals to conceal the ownership of assets, launder proceeds from … narcotics trafficking and to subvert Bank Secrecy Act reporting requirements,” according to a criminal complaint filed in U.S. District Court for Arizona.

All three appeared before a federal judge Thursday and were released on their own recognizance.

According the complaint, an undercover agent posing as an ecstasy dealer met with Saeid Salari in September and offered $10,000 cash to buy a car without reporting the sale or registering his name on the transaction.

Undercover agents went back in November and offered to buy a second car, this time for $80,000, authorities said. According to the complaint, Hamid Salari suggested using a third party to conceal the ownership of the vehicle, and the agent left $20,000 cash in a Crown Royal Scotch bag as down payment.

Authorities said when agents delivered the rest of the payment in December, they noted a display case in the business advertising Isaac Jewelry. Authorities said Hamid Salari told them Isaac was a friend and would be willing to exchange jewelry for up to $30,000 cash.

According to the complaint, agents claiming to be drug dealers used cash to buy jewelry from Isaac, who did not report the transactions.

Agents returned again on Wednesday and offered Hamid Salari $200,000 in cash for another vehicle purchase and cash for more jewelry from Isaac, according to the complaint. Internal Revenue Service agents raided the dealership at 3220 N. Scottsdale Road and arrested the Salaris and Isaac.

Special Agent Brian Watson of the IRS criminal investigation team said the investigation was conducted jointly with the Scottsdale Police Department.

Records from the Arizona Department of Financial Institutions show Hamid Salari, Luxor president, was ordered in 2011 to suspend operations after department investigators found that Luxor was not licensed to sell motor vehicles or act as a sales finance company in the state of Arizona.

The order required that Hamid Salari pay $10,000 in civil penalties and obtain the proper permits to continue operations. Records show Hamid Salari signed the order, indicating he agreed with the investigation’s findings and associated penalties.

Phoenix sued Hamid Salari and the Luxor Group in July 2013 after police seized a 2012 Mercedes R350 from the Scottsdale dealership. The car had an altered vehicle identification number and was stolen from GEM Limousine Service in Phoenix in May 2012, according to court records.

The case ended in November with an order for Phoenix to release the Mercedes to the National Insurance Co., which was a defendant in the case.

Article source: http://www.azcentral.com/story/money/business/2014/04/17/face-charges-irs-raids-luxury-car-dealership/7851973/

3 face charges after IRS raids luxury-car dealership

April 18, 2014 Posted by admin

Federal authorities say owners of a luxury car dealership in Scottsdale took bags of cash from undercover agents posing as drug dealers and agreed to launder money through unreported vehicle sales.

Brothers Hamid and Saeid Salari of Luxor Auto Group were arrested Wednesday on money laundering, conspiracy and currency-violation charges. A third man, Farah Isaac, who owns a jewelry store and works with the Salaris, was arrested on similar charges.

The Salaris and Isaac “conspired with each other and other individuals to conceal the ownership of assets, launder proceeds from … narcotics trafficking and to subvert Bank Secrecy Act reporting requirements,” according to a criminal complaint filed in U.S. District Court for Arizona.

All three appeared before a federal judge Thursday and were released on their own recognizance.

According the complaint, an undercover agent posing as an ecstasy dealer met with Saeid Salari in September and offered $10,000 cash to buy a car without reporting the sale or registering his name on the transaction.

Undercover agents went back in November and offered to buy a second car, this time for $80,000, authorities said. According to the complaint, Hamid Salari suggested using a third party to conceal the ownership of the vehicle, and the agent left $20,000 cash in a Crown Royal Scotch bag as down payment.

Authorities said when agents delivered the rest of the payment in December, they noted a display case in the business advertising Isaac Jewelry. Authorities said Hamid Salari told them Isaac was a friend and would be willing to exchange jewelry for up to $30,000 cash.

According to the complaint, agents claiming to be drug dealers used cash to buy jewelry from Isaac, who did not report the transactions.

Agents returned again on Wednesday and offered Hamid Salari $200,000 in cash for another vehicle purchase and cash for more jewelry from Isaac, according to the complaint. Internal Revenue Service agents raided the dealership at 3220 N. Scottsdale Road and arrested the Salaris and Isaac.

Special Agent Brian Watson of the IRS criminal investigation team said the investigation was conducted jointly with the Scottsdale Police Department.

Records from the Arizona Department of Financial Institutions show Hamid Salari, Luxor president, was ordered in 2011 to suspend operations after department investigators found that Luxor was not licensed to sell motor vehicles or act as a sales finance company in the state of Arizona.

The order required that Hamid Salari pay $10,000 in civil penalties and obtain the proper permits to continue operations. Records show Hamid Salari signed the order, indicating he agreed with the investigation’s findings and associated penalties.

Phoenix sued Hamid Salari and the Luxor Group in July 2013 after police seized a 2012 Mercedes R350 from the Scottsdale dealership. The car had an altered vehicle identification number and was stolen from GEM Limousine Service in Phoenix in May 2012, according to court records.

The case ended in November with an order for Phoenix to release the Mercedes to the National Insurance Co., which was a defendant in the case.

Article source: http://www.azcentral.com/story/money/business/2014/04/17/face-charges-irs-raids-luxury-car-dealership/7851973/

Gold Import Curbs Seen Continuing in India to Defend Rupee

April 17, 2014 Posted by admin

India, the world’s second-largest gold consumer, will probably keep restrictions on imports to control the current account deficit and defend the rupee, said the managing director of the country’s biggest refiner.

The limits would result in shipments of 650 metric tons to 700 tons in the 12 months started April 1 from 650 tons a year earlier, according to Rajesh Khosla at MMTC-PAMP India Pvt. Purchases were 845 tons in 2012-2013, the finance ministry says. While the form of restrictions may change, the government will continue to restrain buying, he said in an interview.

India represented about 25 percent of global demand in 2013, the World Gold Council says. Prime Minister Manmohan Singh requires importers to supply 20 percent of purchases to jewelers for export and sell 80 percent on the local market. Singh also raised import taxes and only allows banks and government-nominated entities to ship in gold. The new finance minister may review the rules after elections in progress now.

“I’m sure he will do something on 20:80,” said Khosla, referring to the import regulations. “You may come up with a quota system, you may come up with an auction system, you may ask the banks to bid. Freeing the import of gold as it used to be prior to the 20:80, I don’t think that is going to happen,” he said in New Delhi on April 8.

China overtook India as the biggest consumer last year. India buys almost all its gold from abroad. Unofficial imports almost doubled to 200 tons in 2013 while official flows dropped 4 percent to 825 tons, the London-based council estimates. Gold climbed 8.2 percent this year to $1,299.79 an ounce today.

National Elections

The country will have to go “slowly and steadily” in removing these curbs, Raghuram Rajan, governor of the Reserve Bank of India, said this month. “It would be useful for some of the big uncertainties facing us to be behind us rather than still in front of us before major actions are taken. I do not rule out smaller steps.”

India levies a tax of 10 percent on gold imports after increasing the rate three times last year. Federal elections will be concluded next month and opinion polls show the opposition Bharatiya Janata Party will emerge as the largest party while falling short of a parliamentary majority.

While the government may remove some of the curbs, they won’t do so completely because that would hurt the current account deficit, Victor Thianpiriya, a commodity strategist at Australia New Zealand Banking Group Ltd., said yesterday.

Indian DNA

Bullion contributed to almost 80 percent of a record $87.8 billion deficit in the year ended March 31, 2013. The shortfall in 2013-2014 would be contained below $40 billion, Finance Minister Palaniappan Chidambaram said March 7, less than the $70 billion target. That helped the rupee rally about 14 percent from a record low in August.

The nation needs other measures to reduce its demand for bullion imports, Khosla said.

“Gold is the Indian DNA,” he said. “Throttling the supply of gold is not the answer.” Government analysis showed India could set aside $30 billion annually to import gold and keep its current account manageable, he said. “With gold at $1,400 you come to around 650-700 tons. That’s the ballpark figure for you, whoever is in government.”

With demand in India about 1,000 tons a year, the remaining 300 tons would be met through monetization of some of the 20,000 tons sitting above ground, Khosla said. Owners would deposit gold with banks for a set period for a fee and the banks would refine it before lending to jewelers, he said.

Doubling Capacity

MMTC-PAMP’s plant located 35 kilometers (22 miles) from New Delhi airport has the capacity to produce 100 tons of gold and 600 tons of silver annually. It plans to double gold output to 90 tons by the end of this year from 45 tons in the year ended March 31 after the government allowed continuous imports of 15 tons of dore every two months. Dore, a raw material, may contain about 80 percent gold and 15 percent silver, he said.

The refinery, owned 72 percent by Switzerland’s MKS Holdings and 28 percent by MMTC Ltd., will double its gold capacity to 200 tons by November, Khosla said. The country should expand its refining industry and boost dore imports because processing creates value for India, he said. Use of scrap should also increase, he said.

“Our raw material is mainly dore now,” Khosla said. “If you looked at the long term, the raw material for this plant let us say 10 years from now, I would say 50 percent is dore and 50 percent is scrap. All internal scrap.”

To contact the reporters on this story: Pratik Parija in New Delhi at pparija@bloomberg.net; Prabhudatta Mishra in New Delhi at pmishra8@bloomberg.net

To contact the editors responsible for this story: James Poole at jpoole4@bloomberg.net Thomas Kutty Abraham

Article source: http://www.businessweek.com/news/2014-04-16/gold-import-curbs-seen-continuing-in-india-to-protect-currency

Pittsfield jeweler defaults in civil case alleging theft of $120K

April 16, 2014 Posted by admin

PITTSFIELD — A city jeweler facing criminal charges for allegedly ripping off customers defaulted in a civil case Tuesday and will now be heading for a hearing to determine the amount of damages he owes a local woman.

Mark J. Yannone, of Pittsfield, was scheduled to appear in Berkshire Superior Court for a pretrial hearing on a civil case brought in December 2012 by JoAnne Simms, who alleged she was owed close to $120,000 by Yannone.

According to her civil complaint, she was hired to manage Berkshire Gold Silver on Elm Street and had brought her “personal jewelry stock” to sell on consignment at the store.

She alleged Yannone gave her three checks totaling $20,000 for the sale of some of her consignment jewelry but the checks bounced and Yannone then refused to pay her.

Yannone also failed to return the rest of her jewelry and her equipment valued at close to $100,000, according to her complaint.

Berkshire Gold Silver and the adjacent Mark Joseph Jewelers now appear to be closed.

On Tuesday Simms’ attorney, Anthony P. Doyle, said he hadn’t heard from Yannone, but that notice had been given to him concerning the hearing.

Yannone was representing himself in the case after attorney Alan J. Righi withdrew in November.

Judge Daniel A. Ford found Yannone in default and ordered a hearing for a motion to assess damages in the case. The date hadn’t been scheduled as of Tuesday afternoon.

Yannone also is facing 16 criminal charges for allegedly ripping off customers for thousands of dollars by failing to pay for or return jewelry, selling fake gold and filing a false insurance claim. Those charges include 14 counts of larceny by false pretense and single counts of larceny over $250 from a person 60 years of age or older and filing a fraudulent insurance claim.

He has denied all charges and remains free on personal recognizance.

The latest charge of larceny by false pretense over $250 came last month via a District Attorney’s complaint. The Berkshire District Attorney’s Office alleged Yannone failed to pay a woman close to $20,000 for her jewelry he took on consignment.

Among the earlier alleged crimes, which Pittsfield Police said took place between March 20, 2011, and Aug. 13, 2013, he is accused of selling a 35-year-old woman what he said was a 19-ounce gold bar for $25,000 that turned out to be made of “a white-colored substance” that had been covered in a gold finish, police said.

The woman told police two other jewelers later determined the bar contained no gold.

In another case, police said Yannone promised to sell a 68-year-old Pittsfield man gold he claimed he could get at a reduced price. The man accepted and Yannone cashed a $6,000 check and took 15 gold coins from the man, but never came through with the gold, or returned the cash or coins, according to a Pittsfield Police probable cause report.

Yannone is represented on the criminal matters by attorney Leonard H. Cohen and is due back in court for a pretrial hearing June 9.

Cohen wasn’t available for comment on Tuesday.

To reach Andrew Amelinckx:

aamelinckx@berkshireeagle.com,

or (413) 496-6249.

On Twitter: @BETheAmelinckx

Article source: http://www.berkshireeagle.com/news/ci_25572476/pittsfield-jeweler-defaults-civil-case-alleging-theft-120k

Man charged with attempting to sell fake gold

April 15, 2014 Posted by admin

COLUMBUS, Miss. (WTVA) — A Montgomery, Alabama man has been charged after authorities say he attempted to sell counterfeit gold jewelry to an off-duty police officer.

Lowndes County investigators say Dornell Little, 49, approached the officer in the parking lot of a business on Highway 45 North.

They say Little had 10 jewelry pieces with stamps to indicate they were real when it fact they were not.

Little is charged with felony sale of goods bearing a counterfeit stamp.

Bond was set at $10,000.

Article source: http://www.wtva.com/news/local/story/Man-charged-with-attempting-to-sell-fake-gold/7i4YX4gJxkCh2DW4rOlrQQ.cspx