SOURCE: Provident Precious Metals, LLC

Provident Precious Metals, LLC

January 18, 2012 13:18 ET

Heavy Demand for Silver Rounds Featuring Presidential Candidate Ron Paul Leads to Controversy

1-Ounce Ron Paul Silver Rounds From Provident Metals Generate Important Questions and Brisk Sales

DALLAS, TX--(Marketwire - Jan 18, 2012) - With his second presidential bid underway and his national profile on the rise, it is probably not surprising that the 1-oz Ron Paul Silver Round is one of Provident Metal's best-selling products of all time. The one-ounce silver round features Ron Paul on the front, is minted in .999 investment grade silver, and meets criteria of the American Open Currency Standard. The brisk sales have also been accompanied by investors' questions regarding the AOCS and a completely unrelated counterfeiting conviction.

The source of these questions stem from a 2011 federal conviction of Bernard VonNotHaus. VonNotHaus produced and sold the Liberty Dollar as legal U.S. tender, explicitly labeling his coin with the word 'dollar' and other features common to U.S. coins. The U.S. Attorney General claims the Liberty Dollar was specifically created to be used as an alternative to the US Dollar. The Liberty Dollar story generated considerable buzz in the precious metals blogosphere. Dealers and producers also need a professional system for certifying their bullion products' weight and purity, which is precisely the role of the AOCS.

The heavy demand for the 2012 Ron Paul Silver Round and accompanying questions prompted Provident Metals to post the following AOCS certification information. "The American Open Currency Standard was started to provide units of trade for silver. Known as 'face value,' these units provide a basis for the pricing of goods in ounces, grams and grains rather than a dollar amount. A 'face value' of 50, for example, refers to 50 units of trade on the AOCS. To determine these 'face value' amounts, AOCS uses a 30-day moving average provided by an independent, third party source." In contrast to the markings on the Liberty Dollar, Ron Paul silver rounds offered by Provident Metals have been AOCS approved and marked with their weight and purity. They are also explicitly NOT marked with the word "dollar," making the Provident Metals Ron Paul silver rounds a perfectly legal, professionally certified silver product.

"Perhaps due to his second place showing in the New Hampshire Primaries, demand for the Ron Paul Silver and Copper Rounds has remained extremely high, selling out regularly," comments J. W. Haugen, General Manager of Provident Precious Metals, LLC.

About Provident Metals
Provident Metals, LLC is a premier online dealer offering a vast selection of gold bullion, silver bullion and other precious metal investments at competitive prices. Investors both large and small can easily buy gold bars and coins like the American Gold Eagle and Pamp Suisse, and buy silver coins like the Canadian Silver Maple Leaf, 1-oz Silver Rounds and more. Provident Metals offers bulk pricing on many of its products along with flat rate shipping for all orders as well. For more information, visit http://www.providentmetals.com/ today.

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