In fact, no matter if you have been in business for quite
some time, or you are new to the real estate industry, the risks you face
daily, from errors in closing costs and payoff amounts to failing to meet
client expectations, make you a major target for lawsuits. Even if you are
cleared of all claims, the fees spent on defense, the time spent away from your
business, and the added stress of dealing with the situation can prove costly.
Without the right coverages, real estate agents may put their professional and
financial future on the line.
Also, it is the title industry's role to safeguard the
client's escrow and other funds by providing a means for the secure transfer of
their real estate in the industry. If an error or breach occurs during this
transaction, the agent is held accountable for damages incurred resulting from
the error or breach.
Title Agents Errors and Omissions Insurance protects title
agencies, including the escrow agent, closing cost agent, title searcher, and
more, against the impact of a lawsuit incurred as a result of title agents
omissions and errors and fraudulent wire activities.
This insurance covers all costs suffered as a result of an
emerging lawsuit claiming alleged errors in the title documentation process,
including title searches and escrow. Under this coverage, the insured is
compensated in the event of final settlement up to the policy limit, as well as
compensation for defense costs.
Title Agents Errors and Omissions Insurance Under the
Fidelity-Pak Program
Title Agents Errors and Omissions Insurance Coverage under
the Fidelity-Pak Program provides a wide range of comprehensive errors and
omission coverage for real estate title agents, including:
Claims related to defect or deficiency coverage
Sometimes the real estate process can become damaged due to
a defective or unmarketable title, also known as a title defect, which means
there is an omission, error, or other complication related to the ownership of
the property that makes it unsuitable for sale to a valid buyer.
Typically, as part of the settlement process under a
contract of title, the buyer will pay the title company or attorney to search
the title to the property to ensure the seller has a valid and marketable title
to transfer without title defects to protect the buyer's right to the property.
However, sometimes important details related to the property are not recorded
in state and county records, which prevents certain information from being
known, which puts the agent at risk.
The claims related to defect or deficiency insurance covers
claims related to defect or deficiency claims resulting from a deficiency or
defect not recorded in public.
Consumer Financial Protection Bureau Matters (CFB) Coverage
The Consumer Financial Protection Bureau protects consumers
from abrasive, unfair, or deceptive practices and takes action against
businesses that break the law, such as predatory lending.
If a consumer files a complaint against your company with
the CFPB, and upon investigation, the CFPB decides that your company has indeed
violated federal consumer financial laws, it could result in a court
proceeding.
The Consumer Financial Protection Bureau Matters Coverage
assists with costs incurred as a result of Consumer Financial Protection Bureau
matters. Under this coverage, Insureds receive up to $150,000 sub-limit
coverage for relevant attorneys' fees, costs, and expenses, including civil
investigation, hearing, subpoena, or civil action conducted or received by the
CFPB.
Claims Caused by Independent Contractors
The claims caused by independent contractors insurance
covers Insureds against a claim caused by independent contractors.
Occasionally, you may need to hire an independent contractor
to assist you in your real estate business. During these times, it is important
to verify that the contractor is covered by insurance, which will cover damages
if the contractor's errors or accident causes damage.
Prior Acts Coverage
Title Agents Errors and Omissions Insurance covers prior
acts coverage is a feature of liability policies that extends the coverage of
insurable occurrences to dates before the purchase of the policy. In other
words, it covers the time between when services are provided and when claims
are filed as a result of those services. Under this coverage, all claims caused
by wrongful acts following the retroactive date and before the end of the
policy period are covered.
Fraudulent Email Wire Transfer Coverage (Third Party)
Under the Fraudulent Email Wire Transfer Coverage,
compensation is paid on behalf of the Insured, those sums insured become
legally obligated to pay up to $1 m for a covered loss as a result of an employee
transferring escrow funds from an account of the Insured in dependence upon
fraudulent email instructions relieved from a criminal claiming to be a lawful
party to the transaction.
For more information on Title Agents Errors and Omissions
Insurance, contact Riebling Insurance Agency, a leading commercial insurance
firm specializing in Title Agent E&O insurance for both small and large
companies, at RieblingInsurance.com
The United States Government has been presenting several
schemes and plans to help the American residents enjoy health insurance
benefits to the fullest. "Obamacare" is one such scheme that provides
health insurance facilities for both the high-income and low-income groups in
America. However, a report from a Washington D.C. firm, named Avalere Health,
reveals that the price for one of the plans in Obamacare, called the silver
plan, will rise to about 34% in 2018. The silver plan provides a decent
coverage policy and is a bit high on the monthly premiums. For those who cannot
afford to pay such high premiums; they need not worry, as there are policies
besides this and a subsidy scheme, which will provide health insurance at low
cost.
While shopping for cheap health insurance plans, one should
have sound knowledge about health insurance policies. Senior Vice President of
Advisor Services at Manning & Napier, Shelby George advises the shoppers to
always look for how much coverage is provided for the costs a company provides.
In other words, one should not get carried away by the cheap rates, but should
rather focus on how much coverage the insurance companies are providing for
those cheap rates they advertise.
In order to get best cheap health insurance, here is an
explanation of the different policies available and a description of, whether
one can get insurance for "free".
Subsidies and other Health Insurance Plans:
With an aim to provide all Americans with Health Insurance
coverage, one of the many useful plans proposed by the Government, is that of
'subsidies'. A subsidy, in simple words, is the amount paid by the Government
to the insurance companies to provide health insurance facilities to those with
low incomes. This means that people falling into the low-income group will be
able to enjoy health insurance benefits through the use of subsidies, which
would otherwise be rejected by insurance companies on any other short-term
policy claim.
An individual who earns about $48,000 and a family of 4,
which earns somewhere less than $98,000 are those who can enjoy the benefits of
subsidies. Hence, people with low incomes can enjoy good cheap health insurance
with the help of subsidies. However, these subsidy schemes proposed by the
Obamacare plan are more likely to be altered or eliminated on the whole by the
Trump administration.
Talking about other health insurance plans, a silver plan
will cover up to 70% of a person's health care charges while a bronze plan will
cover up to 60% of the costs and the remaining percentage of charges will have
to be paid out of the person's pockets. Now, comparing these two plans, if one
wishes to spend absolutely NO money out of one's pockets, then choosing a
bronze plan along with a subsidy will be of great help. For those who cannot
afford to pay out of one's own pockets, the bronze plan coverage of 60% along
with the remaining 40% covered by subsidies will help to enjoy cheap health
insurance.
What Type of Policy One Can Choose?
The first step to get hold of the best cheap health
insurance is to be aware of what policy suits one's needs. Here is a list of
two options explained briefly, so that one can choose the best fit.
1. Short-Term Policy:
A short-term policy is for those
people, who do not qualify to avail subsidies. In other words, people for whom
it becomes 'unaffordable' to get health insurance are advised to choose this
policy. Here the term 'unaffordable' is described as the cost that exceeds
above 8% of an individual or a family's annual income. According to, Nate
Purpura, the Vice President of Consumer Affairs (ehealth.com), individuals
whose income ranges from $49,000 to $69,000 and families that earn somewhere
between $99,000 and $129,000, are supposed to go for short-term policies.
Hence, if one finds it difficult to pay expensive premiums
and avail health insurance, then going for the short-term policy is highly
recommended. However, there are no penalties if one doesn't wish to have any
health insurance. But, on a positive note, it is beneficial for the individuals
themselves, if they have some financial protection that will be of benefit in
unfriendly circumstances.
Here are a few noteworthy details about short-term policies:
These policies usually last up to 3 months and can be
extended till 9 months (in 3-month period renewal).
According to the new rules proposed by President Trump,
having a short-term policy will be mandatory for all individuals. However, this
rule has not yet been passed, but will soon be in effect.
These policies do not provide coverage for pre-existing
illnesses, i.e. diseases that one is suffering from, before applying for the
policy.
If at all one wishes to include such pre-existing illnesses
in the coverage plan, then the premiums will increase substantially.
Unlike Obamacare schemes, short-term policies will not cover
charges for maternal care, injuries due to abuse, and mental health treatment.
On having a short-term policy, one can avail decent health
care facilities at about $100 premium a month.
On an overall basis, despite the low coverage options it
provides, those who are looking for cheap health insurance for individual or
cheap health insurance for families, can avail great benefits from this policy.
2. Combined Policy or Combo of Policies:
Traditional policies or in other words plans with higher
premiums will provide coverage for all the expensive hospital bills in case of
risky illnesses or accidents. Whereas, choosing short-term plans will simply
cover the normal doctor-visits. But if one wishes to avail the benefits of both
the policies, i.e. get coverage for risky illnesses as well as for normal or
routine sickness (like a cough, cold, fever), then insurance companies these
days are offering combo packages.
In the recent past, people used to apply for both policies
separately in order to avail coverage in both cases. This was getting difficult
for the insurers to calculate different percentages and amounts; hence the plan
for combo policies came up, allowing people to avail both benefits within a
single policy. However, as evident as it seems, going for these policies will
definitely cause one to pay premiums higher than usual.
So a gist of all the above-discussed points is that one
should not always get attracted by offers that merely advertise of providing
cheap health insurance for individuals, instead one should look for the quality
of coverage they provide for the cheap insurance rates. Shopping for health
insurance also requires thorough research and study, just like any other
insurance policies. Since this is an issue concerning one's health; it is
nowhere worthy to just be worried about money. Quality service always comes at
pay hence one should be wise enough to search for policies that provide
affordable and quality health insurance plans.
Having basic insurance coverage is essential. If you don't
apply for insurance, know that it will be a big mistake. Therefore, you may
want to have enough coverage to meet your needs. Also, it's important that you
realize the importance of insurance. Given below are a few common mistakes that
you may want to avoid when it comes to buying insurance.
Ignoring the Importance of Basic Insurance
You must have at least basic insurance. For instance, it can
protect you in case of car theft and accidents. In addition, basic health
insurance can help you save on your medical bills. If you can't go for a
comprehensive policy, make sure you get a catastrophic or deductible plan.
According to the Affordable Care Act, you must have health
insurance. Otherwise, you may have to face fines at the time of filing your
taxes. The health plan you opt for should meet your minimum requirements. A
plan designed for disability protection, for instance, can protect you if you
fall seriously sick or get injured.
Opting for an Expensive Plan
Another common mistake is to purchase a plan that is more
expensive. It can be hard to estimate how much you should spend on a plan,
especially when it comes to liability insurance. Therefore, we suggest that you
have a discussion with an agent about your assets. At young age, you won't have
to pay for an expensive plan as you won't have a lot of assets to protect.
Opting for a Cheap Plan
Under insuring yourself is another common mistake. Ideally,
your basic plan should be able to cover your expenses. In other words, in case
of an accident, your plan should be able to pay for all the medical expenses.
For a health plan, the same is true. If you are in the
United States, one million dollar can be enough. However, if you have a major
illness like cancer, your medical expenses will be much higher.
Opting for the Wrong Insurance
Getting the wrong type of insurance policy is another common
mistake. It's not a good idea to opt for policies that won't be of any use to
you. For instance, if you are under the age of 30, you don't have to get
different types of policies.
Keep in mind that you don't have to go for all types of
policies. If you know what you are going to get, you won't have to get
surprised at the time of filing a claim.
Not Considering Different Policies
Make sure you shop around before deciding on a policy. It's
better to do this every now and then. This will help you save money by opting
for a different policy. In addition, you may consider policies that offer
discounts based on your location or profession. Shopping around won't take much
time but save you a lot of money. Plus, it will help you avoid common mistakes.
In short, these are some common mistakes that you may want
to avoid when it comes to buying the right type of insurance policy. It's much
better to consult a health insurance agent to make an informed decision.
If you are looking for a California health insurance agent,
we suggest that you check out Health Insurance Agent.
So you are ready to buy gold and silver! You've seen a ton
of commercials on TV pounding the importance of physically owning your precious
metals, and you've heard the myriad of reasons why you must own it. You've made
the decision... you're ready now to start buying! Now what?
Do you know how to ensure a safe and confident purchase? I'm
going to make this really easy and simple for you. There are three things you
really must know to buy your gold and your silver the right way and with confidence.
You do want to buy with confidence, right? OK, so here are three essential
things you need to know.
Authentication: You need to know how to authenticate, so you
know it is real. It would really be a shame if you finally went out and bought
some bullion, only to find out later that it wasn't even real. To avoid this
pitfall, you need to know how to authenticate your purchases before you buy.
The subject can get deep and it is not realistic to go into the pros and cons
of the various methods for authentication here, but I do want to briefly share
what those methods are so are aware of your choices. There are three ways you
can test the authenticity of your bullion... those methods are chemical
testing, electronic testing, and physical testing. The testing methods you
choose will be based on the types of purchases you are making, the volume of
your purchases, and your budget for testing (particularly, some of the
electronic testers can be pricey). Chemical and electronic testers are pretty
much what you'd expect them to be. Physical testing includes testing weight,
size, and sound (yes, sound) of the bullion you are testing.
Valuation: You need to know how to determine value, so you
don't overpay. To determine value, you must know the weight, the purity, and
the trading price (known as the spot price). Weight is straight forward and is
a measurement of the weight of a given piece of bullion. But weight is only
part of the equation... we need to also know how much of the piece is pure. For
instance, if a piece of silver bullion is 50% pure, then the silver content
would be 50% of the weight. Once you know how much silver (by weight) is in the
piece, you can easily figure the value using the spot price. Note that trading
prices vary slightly based on premiums charged by dealers. I just cannot over
stress the importance of your ability to determine value so you can make smart
buying (and selling) decisions.
Strategy: You need to understand your own strategy,
essentially the real reason why you are buying these precious metals in the
first place. This is more important than you may initially think because it
will help you choose the correct bullion. Bullion comes in many different
sizes, shapes, and value, and you will need to make purchase choices based on your
objectives. Your choices could differ if you are buying for wealth protection,
or if you are buying to hedge against currency fluctuation, or if you are
buying to prepare for an economic meltdown. Whatever your reasons, you must
know why so you can make the right choices. And here's an extra tip: You'll
also need a strategy for storage.
Buying gold and silver is simpler than you think, but one
mistake can cost you big time. After all, precious metals are valuable, and
your purchases can (and should) really add up. I hope you found this article
helpful on your journey.
You can always learn more essentials about how to buy gold
and silver on my informative blog, or even ask me a question there!
Thanks for reading. For more information on the right way to
buy gold and silver, visit my blog using the link above.
Join my list for periodic relevant updates, and I'll send
you my guide to getting free silver from banks (I wrote it). Join me here:
http://InvestingGoldNow.com/freesilver
How is gold traded? The financial markets offer investors a
platform to trade using several financial products.
Gold is a fast market commodity owing to its price
volatility; usually experienced after a period of relative consolidation and
price stability and securities markets reaction to the performance of the US
Dollar.
Here are 5 ways to trade gold for investors:
1.ETF's
Exchange-traded funds (ETF's) for gold allow investors to
trade gold without physically handling the bullion. Gold EFT's track the
performance of gold spot prices against the various market indexes and hence
provide investors with the opportunity to own gold without using it as
leverage. The passive management approach of EFT's ensures that investors' gold
shares are always valued at the optimum market level in tandem with the various
market indexes. The virtual gold traded in EFTs is however backed by physical
gold assets that are shared among the investors.
2.Miner single stocks
Investors can buy stock in the gold mining companies in
speculation of a dividend due to profits from increased gold prices, or
short-term trading opportunities. However, gold miner stocks, including junior
gold stocks, are risky because their performance is leveraged against both the
domestic market and by the gold spot prices. This gives the investment a 3-to-1
leverage on either side of investing. Traders can be spooked by either the gold
spot price or by the domestic factors, making the investment volatile and hence
suitable for investors with a large risk-tolerance.
3.Physical gold bullion
Unlike the EFT's, traditional gold trading entails
purchasing and selling gold coins, bars and jewelry and storing them in a safe
at home or in a deposit box at the bank. The physical gold inventory acts as a
currency hedge or an alternative source of cash that offers high liquidity. An
investor may alternatively purchase physical gold from the markets and resell
in retail shops as bars, coins or accessories after value addition. The trader
places a markup on the products based on the costs and sentimental value put on
the gold products.
4.ETN's
Gold exchange-traded notes (ETN's) are debt facilities an
investor extends to a bank, tracked against specified indexes. Upon maturity,
the investor gets the equivalent of the index performance in the form of gold.
This approach does not guarantee an investor of positive returns and hence it
is risky as it lacks a principle guarantee. However, the flexibility of ETN's
allows an investor to strategize gold trading as either long-term, short-term
or pursue a mixed strategy.
5.Closed-end funds
These funds provide investors with a less risky opportunity
to invest and trade in gold. The closed-end funds that specialize in gold
trading have a portfolio of gold assists where traders chose to trade at a
premium or at a discount. The closed-end funds select companies that are
conservative, efficient and reliable hence provide a less risky opportunity for
investments.
Chris Bouchard is a strategic consultant who works with
non-profit leaders and social entrepreneurs to apply concepts and techniques to
identify complex strategic issues, find practical solutions, and devise strategies
to create and win a unique strategic position. He also offers project
development, proposal writing, and project evaluation services.
World has plenty of gold, which is mined. The mining activity
gave the result to hundreds and thousands of gold ounces. The deposits of gold
are usually at shallow depths. You can buy or sell it in the markets. You can
also sell silver, gems or scrap gold in the markets. It is considered that the
jewelry buyers are experienced and very well trained. They are believed to give
a fair price for the gold which you want to sell.
Being Aware of the Scams
You should know about the quality and try to make more cash
out of your gold. Educate yourself on all the terms and specifications so that
you can keep a good bargain. There are places which prey on their customers for
more money and to get the money quickly out of them. They convince the people
to sell at lower rates than the normal market rate. They make their money while
it becomes too late for you to realize that you have been fooled. Do not sell
if the buyer pressurizes you. Do not sell to the people who are not ready to
weigh it in front of you.
What to Ask the Refinery
The first and foremost point is that if the buyer weighs the
gold in pennyweights then you should ask him to weigh in grams. The one weighed
in pennyweights can give you a poor amount. All the calculations should be
carried in grams strictly for your ease and also today's market weighs the gold
in grams.
Reasons for selling your gold now
The prices of gold have raised up to a commendable rate from
$400 to $1000 an ounce. The gold is even at a rate of $1400 which is obviously
greater than the initial rate at which it was bought. By selling you can also
contribute to the benefits of the environment by reducing the mining activities
and markets can use the gold which is already mined. The scrap gold will be
recycled by the refineries.
Selling Gold to Buyers
The gold should be measured in grams and you should know
that 1 pennyweight = 1.555 grams. This can put you at a loss by convincing you
that they pay more money than the other buyers. You always need to know the
price you are paid for per gram of gold. If the buyers are bluffing about
giving you higher rates than the market rates, you should not fall for this
trick as the buyer tells about his best rate at the beginning itself. Search
for the professional buyers only so that they give you the best rates. Selling
in the markets can help you incredibly to sell at a good price if you are willing
to start your business on that money.
If you are looking for a place to sell gold in San Diego and
having a hard time finding it then contact Leohamel to get a reasonable price
for your gold and also enjoy the great benefits that they have to offer.
Maundy Money are coins traditionally given out by the
Monarch as a gift to the poor at Royal Maundy. The ceremony, which is
associated with Christianity, is held on Maundy Thursday which is the day
before Good Friday. The Maundy set consists of four coins, denominated one
penny, two pence, three pence and four pence. The number of sets given out to
each man and woman is equivalent to the age of the Monarch in years.
History
Royal Maundy probably dates back to the 13th Century. Maundy
derives from mandatum which Jesus said meaning 'that ye love one another'. It
was the act of washing the feet of the poor and giving food and clothing to the
poor. The Royal Families of the middle ages copied the ceremony as a way of
showing humility.
By 1699 the Monarch opted to send a representative rather
than attend themselves, and not long after the act of washing feet was
abandoned. By the 19th century the Royals thought that giving money was more
convenient than food and clothes and originally gave coins of the day but later
gave specially made silver coins.
It was not until 1931 that King George V restarted the
tradition that the Monarch attended in person. Queen Elizabeth almost always
attends and has only missed a few ceremonies. The ceremony was traditionally in
or near London (mainly Westminster Abbey) but in recent years has moved around
the country at various Cathedrals such as Leicester, Sheffield, Manchester,
York Minster and Armagh.
The coins used to be given to the poor but these days are
given to people nominated for their work done in the local Church. So on (say)
the Queen's 90th birthday, she would give 90 sets to selected men and 90 sets
to selected women. The coins would be issued in a leather purse; a white one
contains the Maundy coins, and a red purse containing current coinage as an
additional gift.
The Maundy Coins
The four coins are specially made: one penny, two pence,
three pence and four pence. They are not the same coins as in circulation and
are quite small (between 11.1 mm and 17.6 mm).
Since decimalisation these have been upgraded by law from
penny to new penny. They are made from Stirling silver (92.5% silver) and
although specifically made for this ceremony they are still legal tender. The
design is virtually unchanged from 1822.
The reverse, which is a crowned numeral within an oak
wreath, was created by Jean Baptiste Merlen back in 1822 and has only been
altered slightly since then.
The obverse shows the head of the monarch as you would
expect. However, if you look at the Queen Elizabeth obverse you can see that
the portrait is the original portrait used from when she first issued coins;
although the Queen has had about five portraits the original (by Mary Gillick)
is still used.
Even back in Victorian days the recipients of Maundy money
soon sold their sets for a premium, especially around the time of the Jubilee
when Americans prized the souvenir. The purses could also fetch a handsome
amount.
Besides the sets given out by the Monarch, many other sets
are minted for official gifts and for collectors. These are issued in a case
rather than a purse. Many were given to Mint workers or other officials. Maundy
sets could be ordered from the bank until 1908, when 9,929 were minted in that
year. Dealers scrambled for sets and sold them at high profit. This eventually
got a little out of hand and the Mint cut back production heavily. In recent
years the mintage numbers have been around 1600-1900 sets.
Les Kendall is a professional software developer but writes
about coin collecting at coinparade.co.uk.
The vast majority of platinum production in the world comes
from South Africa and Russia.
Platinum is silver-white-it was once known as "white
gold"-and it has a number of useful properties, which explains its
application in a wide-range of industries.
It is extremely resistant to tarnishing and corrosion (which
makes it known as a "noble metal") and is very soft and malleable,
making it easy to shape.
It is also ductile, making it easy to stretch into wire, and
unreactive, which means it doesn't oxidize and is unaffected by common acids.
Platinum is one of the transition metals, a group that
includes gold, silver, copper and titanium-and most of the elements in the
middle of the periodic table.
The atomic structure of these metals means they can bond
easily with other elements. Platinum is commonly known for being used in the
manufacturing of jewellery but its main applications spread to catalytic
converters, electrical contacts, pacemakers, drugs and magnets.
Here are 10 interesting facts that you may not know about
platinum.
1. About 50 percent of cancer therapy patients currently use
platinum-containing drugs and some of these drugs, such as cisplatin, are also
used to treat tumours and cancer in animals. Platinum is considered a
biologically compatible metal because it is non-toxic and stable, so it does
not react with, or negatively affect body tissues. Recent research has also
shown platinum to inhibit the growth of certain cancerous cells.
2. According to many analysts, platinum production is not
likely to rise in coming years. The majority (about 80 percent) of platinum is
mined in South Africa. Approximately 10 percent is mined in Russia, and the
rest is found in North and South America. Because platinum and other Platinum
Group Metals (PGM) metals usually aren't found in large amounts, they are often
by-products from mining other metals. South African producers have already
recovered platinum that is close to the earth's surface. Today, producers must
dig far into the earth's crust for the metal. Deeper mining translates into
higher production costs and less total production of the commodity.
3. Nearly half of the platinum that is mined is used in
catalytic converters, the part of the automobile that reduces toxic gases into
less-toxic emissions. Platinum and other platinum metals can withstand the high
temperatures required for the oxidation reactions that reduce the emissions.
4. A cylindrical hunk of platinum and platinum alloy is used
as the international standard for measuring a kilogram. In the 1880s, about 40
of these cylinders, which weigh about 2.2 lbs. or 1 kilogram, were distributed
around the world.
5. Platinum Group Metals or PGMs are some of the rarest
metals found on earth. There are two subgroups of PGMs: Palladium
Group-Platinum Group Elements (PPGEs) and Iridium Group-Platinum Group Elements
(IPGEs). The first group consists of platinum, palladium, and rhodium. The
second consists of iridium, osmium, and ruthenium. No PGMs tarnish and they are
highly resistant to heat and chemical attack. They are all excellent conductors
of electricity.
6. Objects that date back to around 700 BC have contained
platinum. Other PGMs did not make their way onto the scene until the nineteenth
century. Malleable platinum, obtainable only upon purification to essentially
pure metal, was first produced by the French physicist P.F. Chabaneau in 1789;
it was fabricated into a chalice that was presented to Pope Pius VI. The
discovery of palladium was claimed in 1802 by the English chemist William
Wollaston, who named it for the asteroid Pallas. Wollaston subsequently claimed
the discovery of another element present in platinum ore: rhodium. The
discoveries of iridium (named after Iris, goddess of the rainbow, because of
the variegated colour of its salts) and osmium (from the Greek word for
"odour," because of the chlorinelike odour of its volatile oxide)
were claimed by the English chemist Smithson Tennant in 1803.
7. London is the centre for platinum trading but physical
delivery tends to take place in Zurich, Switzerland. The NYMEX division of the
CME offers futures contracts on platinum. Each futures contract represents 50
ounces of the metal. The price of platinum tends to rise and fall with global
industrial conditions. The price of platinum peaked in 2008 at $2,300 per ounce
just before the global economic crisis of 2008.
8. Unlike gold and silver, which could be readily isolated
in a comparatively pure state by simple fire refining, the platinum metals
require complex aqueous chemical processing for their isolation and identification.
Because these techniques were not available until the turn of the 19th century,
the identification and isolation of the platinum group lagged behind silver and
gold by thousands of years. In addition, the high melting points of these
metals limited their applications until researchers devised methods for
consolidating and working platinum into useful forms.
9. The fashioning of platinum into fine jewellery began
about 1900, but, while this application remains important even today, it was
soon eclipsed by industrial uses. After the second world war, the expansion of
molecular conversion techniques in the refining of petroleum created a great
demand for the catalytic properties of the platinum metals. This demand grew
even more in the 1970s, when automotive emission standards in the United States
and other European countries led to the use of platinum metals in the catalytic
conversion of exhaust gases.
10. Extracting platinum is both capital and labour
intensive. It can take up to 6 months and 7 to 12 tons of ore to produce one
troy ounce (31.135g) of pure platinum. The first step in this process is to
crush platinum containing ore and immerse it in reagent containing water-a
process known as 'froth flotation'. During flotation, air is pumped through the
ore-water slurry. Platinum particles chemically attach on to the oxygen and
rise to the surface in a froth that is skimmed off for further refining. Once
dried, the concentrated powder still contains less than 1% platinum. It is then
heated to over 2732F° (1500C°) in electric furnaces and air is blown through
again, removing iron and sulphur impurities. Electrolytic and chemical
techniques are employed to extract nickel, copper and cobalt, resulting in a
concentrate of 15-20% PGMs. Aqua regia (a concoction of nitric acid and
hydrochloric acid) is used to dissolve platinum metal from the mineral
concentrate by creating chlorine that attaches to platinum to form
chloroplatinic acid. In the final step, ammonium chloride is used to convert
the chloroplatinic acid to ammonium hex chloroplatinate, which can be burned to
form pure platinum metal.
The good news is that not all platinum is produced from
primary sources in this long and expensive process. According to United States
Geological Survey (USGS) statistics, about 30% of the 8.53 million ounces of
platinum produced worldwide every year come from recycled sources. Platinum
recycling helps promote and protect the future use of a valuable natural
resource.
Platinum can be fenined from the most different sources:
bars and ingots
flakes and grain
sponges and powder
wire and gauze-crucibles
laboratory and thermocouple wire
medical equipment
aqua regia solutions.
Platinum refining terms are customized based on the type and
quantity of the platinum scrap you have and the service that you need.
ALL WASTE MATTERS ARE A WASTE DISPOSAL COMPANY BASED IN THE
UK. AS A LEADING WASTE MANAGEMENT COMPANY WE DEAL IN HAZARDOUS WASTE DISPOSAL,
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Are you currently wondering how to purchase gold? A lot of
people want to invest, nonetheless they don't realize how to begin. The simple
truth is there are many techniques for getting started with investing in gold.
Here are some of the more common ways to purchase gold, as well as the
positives and negatives for each and tips.
1. Physical Gold
Undoubtedly, buying physical gold is one of the most
frequent ways people spend money on gold. With regards to how to invest in
gold, there are many things to understand about buying physical gold. Here's a
few:
How To Accomplish It
Buying psychical gold is actually simple as it is the best
way it sounds. You acquire gold items, like jewelry, coins, collectibles and
just about other things. The purpose of most investors is usually to hold onto
their psychical gold after which sell it into a gold dealer or other kind of
buyer.
People have a number of options in relation to where they
may buy physical gold. They are able to purchase them at the store or online.
Whenever they find the gold, they will have to store it whilst keeping it until
they are ready to market it for a higher price. When gold prices increase, then
investors can consider selling their pieces.
The Benefits
First pro is that physical gold can be a tangible asset, and
history indicates that gold tends to increase in value as time goes by. Very
few investments are tangible and also have a high probability of going up in
price, even though the economy isn't doing too well. If you want a great
investment you can easily hold, see whilst keeping within your possession, then
look no further than investing in physical gold.
Second pro is physical gold can not be hacked or erased.
Nowadays, folks have countless assets that they can invest in and are generally
held online. A gold piece with your hand doesn't need the internet or any electricity
to operate or anything like this. It really is a foolproof investment in
relation to protecting it from hackers.
Your third advantage of buying physical gold is that you
simply don't have to be a professional. Perform quick research on the price tag
on gold then research gold dealers. Then you can find the gold items you wish
to keep and then sell them off when you're ready. It's as easy as that.
The Cons
First, buying psychical gold can be expensive. According to
in which you purchase it from, you might want to pay commission fees. Even when
you buy it coming from a private seller, you can bet how the gold will likely
be expensive. If spending large amounts of cash upfront isn't for you, then you
might like to think twice about buying gold, but generally gold is generally
definitely worth the investment.
Second con is storing the gold. It doesn't matter what kind
of gold pieces you get, if you purchased it directly, then you're in charge of
storing it. You should be careful with how its stored, otherwise you may well
be putting your gold in danger of getting stolen, damaged and even lost.
The past major con that the physical gold, when stored by
yourself, won't gain interest. You must secure the gold up until you decide
it's a chance to sell it off. If you're looking to gain a little bit of
interest in your gold items, then buying physical gold and storing it all by
yourself is probably not the best option.
Tips
Buying physical gold is quite easy. It's also
straightforward. Just be sure you need to do just as much research as is
possible into gold dealers before deciding what type to do business with, and
make sure you research current gold prices because you need to try to find good
deals on gold pieces. This can all could be seen as commonsense advice, but
trust us once we say it comes in handy when the time concerns purchase gold.
2. Gold Futures
Gold futures are contracts which were standardized and they
are generally traded on specific exchanges. Gold futures allow investors to get
a unique number of gold (for example 100 Troy ounces) at a price that has
already been predetermine. However, the delivery transpires in a future date.
How To Buy Gold Futures
The first thing you need to do is open a brokerage account.
You will find brokers that specifically cope with futures trading, so take some
time when picking one. Next, you can trade gold futures and just how it
functions is you'll must deposit the absolute minimum money so that you can
open a situation. When the price goes into the proper direction, then you'll
stand to generate a profit, but you'll generate losses when it goes in an
unacceptable direction.
The Benefits
First, you simply will not have to store anything. As
previously mentioned, you have to find storage space when you purchase physical
gold. With gold futures, this isn't a challenge.
Secondly, lower amounts come to mind with golds future.
During the time of making a deal, you'll only be asked to pay a certain amount
of cash. The others pays as soon as the agreement is signed.
Another great thing is there exists a good amount of
liquidity. In addition to that, however, you can day trade gold futures. This
means there's a prospective to produce and withdrawal profits regularly.
The Cons
There's only some cons. One includes that there is a major
risk to trading anything, and gold is no different. Default risk can leave the
most experienced traders inside the trenches.
Also, gold prices can greatly fluctuate daily. It is simple
to gain money, but you can easily as easily lose it. Remember, the price of
gold can be appealing at the time of signing the agreement, but they can drop
as soon as delivery is made.
One third con is the volatile from the marketplace. One day
the markets may be good and then the next it could crash. In no time, there may
be a phase as soon as the markets don't move much whatsoever.
Tips
Regarding tips, it's all about opening a merchant account with
a great broker. You can find dozens and many brokerage accounts, so compare as
many as possible. Find one that will provide you with good advice on gold
futures trading then one that doesn't charge a number of fees. The greater
number of brokers you compare, the more effective.
Also, research gold prices for a couple of weeks before
making an investment in gold via futures. If the prices appears to be stable,
then go ahead. If there's an excessive amount of volatile from the markets for
these couple of weeks, then consider waiting until everything grows more
steady.
3. Gold ETFs
Gold ETFs are a fantastic replacement for gold futures. You
won't own contracts, but rather you'll be buying shares of any ETF. In turn,
you'll be open to gold, hence why they may be called gold ETFs.
How To Do It
You may get a brokerage account via a broker that permits
you to trade gold ETFs. Then you'll be able to select the gold product you want
to purchase. It's as elementary as that.
The Pros
One of the best reasons for gold ETFs could it be acts like
a hedge against inflation. Normally, this is the truth with a lot of gold-based
investments. Should you own gold ETFs, then they are utilized to safeguard your
assets up against the inflation and fluctuation of currencies. Gold is
definitely a safe investment and if you buy the proper ETFs, then you'll do
your major favor.
Second, it is extremely an easy task to trade gold ETFs. You
will be only required to invest in a single unit of gold, that is with regards
to a gram of gold in weight. Furthermore, it is possible to trade ETFs via your
ETF fund manager or even your stockbroker.
Third benefit is that you can take a look at stock exchanges
and learn just how much gold is selling for. This can be done at any given
time. If you believe prices are great, then go ahead and buy something,
otherwise you can hold off until prices be a little more appealing.
Another benefit may be the tax side of things. The sole
taxes you spend is either short or long term capital gains tax. Long term is
gold that is held for any year or longer, while short-term is under a year.
The Cons
One con is the fact ETFs can be expensive. Actually, they
could be more pricey than other styles of investing, but they are often more
lucrative. It's your decision to make a decision whether or not purchasing gold
ETFs makes it worth while. That is actually the only major con related to buying
gold ETFs.
Tips
If you can, consider investing large sums of capital or
enter into the habit of trading regularly. The reason being ETFs tend to be
profitable than other types of gold-investing. Basically you can end up
building a lot if you are prepared to trade regularly or invest large sums of
money.
Another helpful tip is usually to never choose a fund
manager or ETF product since the fees are alone. Do a bit of research to learn
precisely what the performance has looked like over the last few years. If
everything looks good, then choose that fund, otherwise keep seeking another
fund manager.
4. Purchase Gold Mining Businesses
This can be the best way it may sound. It requires
purchasing mining businesses that mine gold. You happen to be essentially
buying stocks into gold mining companies.
How To Make It Happen
You can get a stockbroker or investing firm. They may take
your funds and invest it into gold companies of your choice. A different way to
get it done would be to join an internet stock trading platform and spend money
on gold businesses that are listed on the platform. You purchase a particular
amount of shares and then sell them when you've made a profit.
The Pros
First, buying shares into gold mining companies is
straightforward and thus is selling them. All that you do is purchase the
amount of shares you would like then sell them off when you're prepared to.
Also, you may invest into several companies and increase your chances of making
profits frequently.
Second, the retail price swings may be huge, but they do
typically take awhile to take place. When you are patient, then you can
definitely sell when these swings happen. Remember, in case a company is doing
well and doing things right, then their stock could go up of course, if the
price of gold is high too, then you might end up doing adequately.
Third, buying stocks is beginner-friendly. It doesn't take a
great deal of knowledge to shell out, nevertheless it usually takes some
research into gold mining companies. Just do a great deal of research into
several companies and discover what kind of financial reputation they already
have prior to invest into them.
The Cons
The risk is about the high side because gold mining
companies carry plenty of risk, that may cause their stock to lower, whether or
not the price of gold is high. Also, remember that gold miners put themselves
in danger and stuff they generally do also can impact the cost of the company's
stock. Investing in gold mining companies is as risky as buying almost every
other type of stocks.
Tips
There's only one really specific tip to remember. You need
to research various stock trading platforms and make sure the ones you utilize
have gold mining companies' shares available. Better yet, research gold mining
companies and create a set of them prior to search for stock trading platforms.
Then you could find out if those platforms offer shares in those companies.
That is how to spend money on gold. As you can see, you can
find advantages and disadvantages to every single form of investing method, so
you may want to consider all the various methods to invest. Then you can
certainly choose which technique to try.
If you know How to Invest in Gold in today's economy your
are one step ahead. Learn more and get a free gold investment kit at
https://preciousmetaldealer.com/
The 3 areas covered by the literature review are Financial
Services Branding and Brand Equity, Human Relationships in Financial Services,
and how the Insurance Industry has been disrupted by technological
advancements.
Branding
and Brand Equity (Financial Services)
Aaker (1991, 2002) and Keller (1993) have based their
traditional brand equity or value models largely on the study of fast-moving
consumer goods companies. However, Financial Services, like most other service
industries, are intangible and thus require different approaches toward brand
building (Moorthi, 2002, Padgett et al, 1997).
One of the most precious assets of any company is its brand
equity or value. It is defined by Keller (2012) as the additional premium over
and above another similar competitor’s product that is willingly paid by the
consumer. As the majority of consumers are unaware of or uninterested in ‘hard data’
(e.g. cash flow, profits, etc.) of their favourite brands, companies must
capitalise on this priceless asset to gain a competitive edge.
While branding is important for all businesses, it is
crucial for companies offering services as the business nature is intangible
(Devlin et al, 2004. Dibb et al, 1993). This is especially critical in
financial services where nearly every aspect of operations is heavily
regulated, leaving little room for creativity. Branding can become a way for
one company to differentiate itself from the competition (Grace et al, 2005).
Together with trust as a bond (Dall’Olmo et al, 2000), the brand image forms
the fulcrum of the relationship between consumers and their favourite brand
(Devlin et al, 2004).
Besides trust and image, brand salience, loyalty, financials
etc. contribute to a brand’s value (Aaker, 1996. Farquhar, 1989). Tangible
products tend to have brands of their own or ‘sub-brands’ of the company;
whereas for services the company itself is the primary brand (De Chernatony,
1999. Berry, 2000). Thus the importance of brand equity for a services company
cannot be overstated; Berry (2000) views services branding as the key to its
success while Bravo et al (2012) suggest that the branding of services is a
strategic tool that may be wielded to achieve success.
Thus a strong brand with sound reputation is especially
pertinent for the services; such as the insurance industry where there are no
tangible products and they are also not easily understood by laypersons
untrained in insurance (Devlin, 2001. Devlin et al, 2004. Petruzzellis et al,
2011). Customers’ perceived risk of the product/service may be mitigated by a
trustworthy and reputable brand and tend to decide more favourably towards it
(Berry, 2000. Bravo et al, 2012. Moin et al, 2016).
Besides external factors, intrinsic factors are equally
important for the services businesses (Devlin, 2001) as the first point of
interaction for many potential customers is usually the service staff. In the
insurance industry, the insurance agent or adviser is typically the person
taking the customer through the entire purchase process (prospecting,
fact-finding, advice, recommendations, etc.) and post-sale services. According
to Berry (2000) and Devlin et al (2004), tremendous brand equity may be derived
from building on and focusing on this client-agent relationship.
To build brand value in financial services by providing
top-level customer experience, insurance companies must invest in staff
training and communication (De Chernatony et al, 1999). As mentioned in the
previous paragraph, the insurance agent is the key to any brand-building
efforts (Kimpakorn et al, 2010) as he/she is often the sole contact point with
the customer. With this in mind, O’Loughlin et al (2005) such interactions between
the agent and the customer contribute more to brand salience than extrinsic
advertising. Word of mouth marketing has a much stronger resonance with
customers compared to external advertisements and/or publicity (Bravo et al,
2012).
Where purchases of ‘simpler’ general insurance products are
concerned, the functional values (e.g. features, price, etc.) are considered
above brand emotional values (Petruzzellis et al, 2011. O’Loughlin et al, 2005.
De Chernatony et al, 1999). However the brand’s emotional values are not
disregarded; Devlin et al (2004) and Bravo et al, 2012) suggest that focusing
on the relationship helps brands differentiate itself in a sea of homogeneous
offerings. This is especially relevant in countries with a developed and
heavily-regulated financial system. In such an environment, the brand
relationship could be the determining factor (Berry, 2000; Devlin et al, 2004)
in the consumers’ decision-making process.
Another factor that has gained prominence as a contributor
to brand equity is Corporate Social Responsibility (CSR) (Hsu, 2012.
Varadarajan et al, 1988). Companies have come to realise the value of CSR as a
key strategic investment (Luo et al, 2006) and even as a competitive advantage
(Smith 2003. Kramer 2001. Smith et al, 2000). When executed well, CSR
strategies can be the key branding component that is extremely difficult or
even impossible for competitors to imitate (Hsu, 2012). On the flip side, being
an irresponsible or socially ignorant company may cause precious loss of brand
equity (Orgrizek, 2001).
The most important outcome of brand building for an
insurance company is to increase consumers’ trust (Moin et al, 2016). In order
to do so, insurers must consistently deliver on their promises, brand messages
and provide top of class customer experiences (De Chernatony et al, 2006).
