Top 7 Reasons to Make 2015 the Year of Gold

1. Gold is at some of the lowest prices since 2010-2011. Who doesn’t like a good deal?
2. Gold is easier to store than cash. If you are stuffing your savings away for the future, under the mattress is too risky and inconvenient. Also, savings accounts aren’t going to offer you an interest rate that can keep up with the rate of inflation. Go for gold! Stay tuned for information on how to store gold and silver with Amagi Metals.
3. The European Central Bank just announced that it will be pumping over 1Trillion Euros into the European Economy over the next two years. Let the currency race to the bottom begin!
4. The Federal Reserve is discussing interest rate hikes. This could mean that the dollar enjoys a spike up, however we live in bizarro world; so don’t count on rational behavior by the banks. They will most likely just keep printing!
5. Russia and China are buying up massive amounts of gold, and have been for the past year or more. While Russia’s Ruble may be suffering, the country and its close neighbor are some of the largest economies in the world.
6. Savings and retirement plans are becoming more and more self-directed. To ensure your financial future, think about buying gold, a consistently valued metal. Amagi Metals even has a Closed Loop IRA option that makes it easy to begin accruing precious metals into your Individual Retirement Account.
7. Throughout the beginning of 2015, Amagi Metals will be focusing on gold products and offering them to customers at some of the lowest premiums in company history. Some items will even be available at dealer cost! Check out our first gold item, the Gold Canadian Maple Leaf – only $28 over spot!
**Edit**
8. Are you watching the Bitcoin price rally? Trade your Bitcoin for gold at AmagiMetals.com!
Cheers to financial responsibility! 

Ask Megan: How much precious metal and Bitcoin should I own?

While I am no financial advisor, I can share my thoughts on this topic. You see…PM’s and BTC are very different in the land of savings. Let me define my view on PM’s and BTC separately:
Precious Metals have been one of the best ways to preserve one’s wealth. They have been used as money for thousands of years, but today we are dealing with a disdain for silver and gold in the financial system because it restricts government power.
Those with economic authority have normalized the idea of elastic, fiat currencies. Because of this, I don’t see gold and silver returning to a form of money in the near future. However, that doesn’t mean they are useless. As you know gold and silver are still used in several different industries: electronics, medical, jewelry, etc.
They also serve a fantastic purpose of storing wealth. While leaving your money under the mattress will only devalue your wealth (the rate of inflation constantly eats away at the purchasing power of your dollar), going to a savings account isn’t much better, since return rates on accounts these days are less than attractive and still less than the rate of inflation.
Gold and silver have maintained their “purchasing power” for hundreds of years. This has lead millions to put excess funds into gold and silver. It’s a way to protect your savings from inflation – and potentially hyper-inflation. Most of the influentials in the PM world would recommend anything from 10-30% of your portfolio in gold and silver (and mining stocks), but they are mostly referring to the short game. And the short game has been very, very hard on investors lately in regards to gold and silver. If you have savings, that you don’t plan on touching in the near future (saving for a house, retirement, or to pass to your grandchildren or kids) gold and silver are a great option for that.
Bitcoin stands on its own, much like any new company stock or new piece of technology. While it has experienced, what I believe to be, its major era of volatility, Bitcoin is still unpredictable at the moment as adoption makes its way to the mainstream (I’m an optimist to say that it will in fact happen!) In the meantime, I can’t give you an exact percentage suggestion for you, or anyone. What I can say is, don’t ever invest or tuck away important savings or income that you can’t lose. Bitcoin has its risks…every financial decision does. Because of this you need to find out how much of your networth you can “play with”.
I believe Bitcoin is the future in some way shape or form, however injuring ourselves financially in the short term by being over zealous about the technology and currency is not financially responsible. Find out what it takes to live every month, budget that out of your pay, create a lump of savings for emergencies in your native currency, THEN think to how much you are willing to invest in Bitcoin. This way you are covered, and give your self a responsible way to explore what lies ahead for Bitcoin as a commodity and currency.
By all means though, own some Bitcoin and transact with it. One, because it’s so easy and fun; two, because widespread adoption depends on it!
Cheers to sound money,
Megan
Send in questions about bullion, money, and finance to [email protected] – I’m here to open the dialogue!

PCGS Names Amagi Metals Approved Dealer

PCGS Welcomes Amagi Metals as an Authorized Dealer

November 5, 2014
For immediate release.
Contact: [email protected] or 1-800-882-8496
The Professional Coin Grading Service, comprised of top industry experts, has invited Amagi Metals as an authorized PCGS Dealer. Amagi customers will now have the benefit of PCGS’s “Guarantee of Grading Accuracy and Authenticity”.
PCGS began grading coins in 1985 after a group of seven coin dealers wanted to provide the industry with a standardized method of grading numismatic coins and bullion. Numismatic coins are typically sold or auctioned for a value much higher than their melt value, due to their rarity and uniqueness that adds an increased “collector’s value” to the coin. PCGS also works with other memorabilia like trading cards, autographs and stamps. Each item is evaluated and graded on the Sheldon Coin Grading Scale, which goes from one to seventy.
While Amagi Metals does not primarily deal numismatic coins, there are certain products that are added to the online store throughout the year that attract collectors. The PCGS approval on coins will provide customers with a trusted seal of authenticity, after a thorough inspection. They will also provide Amagi with a trusted grading practices for all bullion we carry and receive from customers.
CEO of Amagi Metals, Stephen Macaskill, is thrilled to be a part of this new community in the metals world:
“Being a part of PCGS is just another way Amagi Metals can take care of our customers. We will have immediate access to the grading services at PCGS, helping our customers better understand the coins they own, while also opening up the door for more products in our online store.”
Numismatic coins are an entire subculture of the precious metals world, and while Amagi Metals focuses on bullion and the preservation of wealth, numismatics play a big role in the lives of stackers around the world. The staff at Amagi Metals is available M-F, 9:00am-4:30pm MST to respond to questions regarding coin grading, as well as where to start when buying gold and silver.
Amagi Metals is located in Denver, CO and services the entire globe with gold, silver, platinum, and base metals, with the mission to highlight the importance of sound money and financial responsibility. Visit AmagiMetals.com to learn more and view products. Various payments methods are accepted: Check, Money Order, Bitcoin, Litecoin, and all major credit cards. Questions? Call 1-800-882-8496

####

Defending Bitcoin in the Precious Metals World

We read an article on the American Hard Assets website with several misconceptions about bitcoins and economics. Many of the fallacies that the author has about bitcoin are also misconceptions that people have about gold and silver, so we were surprised to see this article in a precious metals magazine. I wanted to address these fallacies here.
The article, titled, “Dumb Investment of The Week: Winklevoss Bitcoin Trust,” calls bitcoin a “failure,” with “several inherent flaws.” When going through the flaws, it is clear that the author does not understand a few basic economic principles about value and money.
The author states:

“The most important aspect of the US dollar that gives it value is that you are required to satisfy your tax obligations to the US government using dollars. This fact virtually guarantees dollars will always be in demand, as most citizens and businesses operating in the US will need dollars at some point.”

The author makes the assumption that dollars will always be in demand. Almost every fiat currency which has its supply controlled by the government has collapsed and is no longer used in that country. In fact, the average life expectancy of a fiat currency is 27 years. A good, recent, example is Zimbabwe, where $100 trillion dollars could not even buy a loaf of bread. There was no demand for that currency once the government debased it! The US Dollar is currently the world reserve currency, however as politicians print more and more dollars, more and more countries are losing trust in the dollar and using alternative currencies such as Euro, Yuan, and gold for trade.
Bitcoin is a universal currency. There are more bitcoins outside the United States, than within the US. Bitcoin does not need the IRS or the US government to exist and survive. There are now payroll processors that allow one to get their entire salaries paid in bitcoin. There is no reason to believe that the IRS will not accept bitcoins for taxes if the world continues its adoption of bitcoin.

“A currency also needs to be easy to acquire to make it useful.”

Have you seen how easy it is to acquire and spend bitcoins? Almost anyone can purchase $20 worth of bitcoins in just a few minutes from a place like coinbase.com. There are bitcoin ATM’s popping up all around the world now, making it easy for people to convert their paper money into cryptocurrency.

“Dollars are widely available, and the US government keeps adding dollars to the economy via deficit spending. Deficit spending usually carries with it a negative connotation, but that is not the case. The issuance of a currency also needs to keep up with a growing economy. As the population grows and productivity increases (hence more assets are created), ever more dollars need to be placed in circulation.”

This comment is very surprising coming from a precious metals magazine. What the author is implying is that the government currently controls the supply of money. The supply of money is constantly being expanded so that politicians can fund welfare programs and warfare. As we all know, the supply of money is expanded by printing more of it. The definition of an increase in the supply of money is inflation. Your dollars are losing value year after year through the process of inflation, causing your standard of living to decrease. In fact, this is one of the biggest reasons why people purchase gold and silver in the first place; to protect their wealth from money printing/inflation/political whim.
The US economy grew the fastest in the 1800’s when the supply of money was finite, set by silver, then bimetallic, then gold standard. If the supply is finite and population and innovation grows, then goods become more affordable year after year. The US economy’s growth began slowing down when the government replaced the money supply with a currency backed by nothing that could be printed into infinity based on political whim.

“There is no entity that requires a large group of people to pay bitcoins each year or face jail time.”

The author correctly points out that the value of the dollar is derived from violence. However they makes another very interesting point, that there is no entity that requires people to accept/use bitcoin. That’s one of the things that makes bitcoin so beautiful. People don’t have to be forced to accept bitcoins; it’s a completely voluntary system. Millions of people have begun accepting bitcoins and see value in it all on a voluntary basis. No force was necessary for people to begin using it. Its features, such as the ability to send money anywhere in the world instantly with low or notransaction fees and its finite supply makes it far more appealing than a currency that can be printed into infinity, controlled by political whim, and backed by violence.
The current adoption rate of bitcoin is growing exponentially. One can now buy gold (amagimetals.com), plane tickets (cheapair.com), gift cards to Amazon.com, Target, CVS, Sears, Zappos, and more (gyft.com), a ticket to space (Virgin Galactic), or over stocked goods (overstock.com). PayPal is seriously considering accepting bitcoin soon. So we are currently undergoing a massive deflationary period (bitcoin is up 9,000% over the last 2 years). All of this is happening on a voluntary basis.

“Bitcoins, like gold or silver, have no intrinsic value as a currency.”

This is a very interesting comment, because many people still think that value is intrinsic. If anyone has taken an economics class, they understand that nothing in economics has intrinsic value. It is widely accepted that value is subjective. In fact, one of the last big theories proclaiming that value was intrinsic came from the Karl Marx’s Labor Theory of Value, which the Communist Manifesto derived from. Some people, such as this author, believe that because something has industrial use, its value automatically becomes “intrinsic.” As we have seen, though, its use in industry, just makes people value it more for its uses. That value is subjective.

“While some precious metals, such as gold, can derive some value from industrial applications or for jewelry (particularly in India for cultural reasons) bitcoin has no alternative uses.”

Bitcoin is actually two things, a payment gateway (protocol), and a currency. The protocol actually has many different uses, such as identity authentication (proof of existence), digital insurance, accounting, voting, smart contracts, domain name registration, autonomous corporations, micro-payments, and many other innovations we haven’t discovered yet. The various uses of the protocol are what gives the finite currency (the only currency that can be used on the protocol), value.
There is a word for someone who is scared of deflation. It is called apoplithorismosphobia, and this author has it. It appears that he is missing a few basic economic concepts. With a finite supply of money, prices become cheaper relative to that currency. That means when you go to the store, you can buy more stuff, with less money. That means your standard of living is higher year after year. Who wouldn’t want that? The author states that with prices becoming cheaper, people will hoard (save) their money. We currently live in a world with perverse incentives where people are dissaving (spending more than they are taking in), causing them to file bankruptcy or fail to prepare for retirement. With deflation, individuals will have a greater incentive to save money, live below their means, and preserve their wealth. If you’ve taken economics 101, you also understand that an economy grows from an accumulation of capital (hence why it’s called capitalism), which comes from individuals hoarding (saving) more money. When more people save money, more businesses can invest in capital, which allows them to produce things cheaper, so we can buy things with even less money.
It is interesting to see that several of the arguments used by this author are fallacies that people use against gold and silver. Once one understands bitcoin, they can see that there are many similarities between precious metals and cryptocurrency and the strengths between the two can be used to compliment each other. The technology behind cryptocurrency is revolutionary and should not be underestimated.

Gold and Silver Considered 'Dangerous Goods' by FedEx

Amagi Metals was informed today that FedEx will no longer be shipping contents of more than $2,500 worth of precious metals to Europe and Asia. The company stated that the goods were considered ‘dangerous’….but only in amounts of $2,501 and over? 
Once again regulation getting in the way of business. Just to be clear, FedEx is not a private shipping provider. While they do operate differently than the USPS in terms of funding, they are still held to the government rules and regulations when it comes to shipping. I think this calls for a new shipping company that takes the risk of working outside of these parameters!
FedEx tells us that they will only insure packages to Europe and Asia for $2,500. This poses a problem from some great customers of ours so we are diligently researching new shipping methods. If you have any leads on shipping gold and silver abroad, please let us know!
We apologize for any inconvenience this may cause to our customers. If you have any questions about buying gold and silver, we’d be happy to help, however questions regarding FedEx’s shipping policy can be directed to their customer service. In the meantime we’ll happily be offering shipping to our customers in Europe and Asia with orders of $2,500 or less.

Making Waves with a New Payment Option at Amagi Metals!

For immediate release: 4/28/14
Contact: [email protected]
Sound money supporters around the world can agree, technology and alternative currency have been enjoying a harmonious relationship, thanks to the minimal regulatory restrictions (for now). The free market has recently given us things like Square, Bitcoin, silver/gold debit cards and more. Amagi Metals is adding to their already wide list of payment methods, a new crypto-friendly payment processor: Ripple.
ripple payment amagi
Heard of Ripple? It’s making waves – pun intended – in online payments by allowing users to send any type of currency over the internet to another user (peer to peer style, like the Bitcoin network) for free. They refer to themselves as “currency agnostics”.
There are many similarities you can draw between Ripple and Bitcoin as internet protocols – in fact Ripple even has its own coin “Ripples”. However with Ripple your wallet isn’t restricted to one type of currency or coin, and Ripple can not be mined like Bitcoin and other cryptocurrencies…you can read more about how Ripples are produced here on the Ripple network.
As of now there are well over 75,000 active users of Ripple and that number will continue to grow, as Ripple offers another great way for businesses and individuals to transact without a banking institution.  We invite all 75,000 to try out Amagi and enjoy the benefits of this payment system. It’s especially exciting for international customers – as the exchange fee to other currencies is $0! May I add that the creators of Ripple lovingly use the word “fiat” quite a bit when talking about the dollar? We likey!
We are happy to bring in, yet, another efficient form of payment to buy your physical silver and gold at Amagi Metals and transcend the Fed’s fun money! Perhaps one day soon personal checks will be of the past and our customers can enjoy must faster order processing, shipping times and, in turn, better prices!
Learn more about Ripple by reading through their well put together Ripple Wiki. If you have any questions about Amagi accepting Ripple or how to make your next purchase, call us at 1-800-882-8496 or email [email protected]
The free market wins again!

"Ask Megan": Cryptogenic Bullion and Baseball Cards

Thanks for joining us for our second week of “Ask Megan”. We’ve had so many questions make their way to us over the weekend and I’m thrilled to address a couple of those today.
Our first question this week comes from Jack:
Hi Megan, 
Are you familiar with cryptogenic bullion or other crypto coins backed by pm?  What do you think of those? I think it is really cool that you guys are doing this blog series.  
First of all, I’m thrilled that you’re into this series. We’re really excited about it too!
Much like the rest of the crypto-world, I have heard of Cryptogenic Bullion, read into it a bit, but it’s all still very new to me…and the rest of the world. From what I do know, Cryptogenic Bullion isn’t “backed by pm’s” but instead emulates gold with its mining rates, deflationary strategy and they even offer interest to active customers using coins that are untouched for 30 days.
For those of you who haven’t heard of it:
“Cryptogenic Bullion is a second generation crypto-currency designed to emulate the properties and supply of gold. It’s the first crypto-currency to display all of the properties of money, while providing the bearer with interest for holding it. Who needs a bank when you can pay yourself 1.5% interest to store your wealth in CGB. Unlike most other crypto-currencies, Cryptogenic Bullion has already completed its volatile monetary base expansion stage and is settling in to its maximum target of 2% expansion per year.”
I think we can all agree that you cannot “emulate” the properties of gold completely with a digital currency. You’d be missing out on industrial uses, storage traits (although digital currencies could exist longer – even though gold is known to store forever because it does not corrode) and its magnificence as a shiny.  From my experience in the precious metals world I can say that Cryptogenic Bullion would make the old school gold and silver bugs cringe. The entire point of holding physical bullion is to have the tangible assets. Now of course there’s futures, ETFs and other investments that don’t require you to hold the physical metal (storage vaults)…but the idea of buying gold and silver as a hedge against inflation involves it only in physical form. The rest is not trustworthy in the long-haul.
This isn’t to say that I don’t find this idea fascinating.  They are essentially wanting to become your bank account, not your daily trade. It’s most definitely a demand in the cryptocurrency marketplace. How can we create bank accounts or have banks work with cryptocurrencies?
I’ve just got one word for those of you thinking about getting involved with Cryptogenic Bullion: diversification. It’s never a good idea to place all of your investment money or savings into one place. Many of the big names like Peter Schiff, David Morgan and Eric Sprott would argue to keep anywhere from 10-30% of your savings in physical gold and silver…it’s such a high percentage because you have many years of history backing its integrity.
I’ll be reading more into this as days go on, so Jack, thanks for bringing this topic up. I hope to hear from more readers who have maybe worked with CGB already. If you have please write in and share your thoughts.
Now you did mention cryptocurrencies backed by physical gold and silver. With numerous bullion dealers now accepting Bitcoin, I think it’s safe to say that Bitcoin is backed by gold. Amagi also accepts Dogecoin and Litecoin so you can argue the same for them! There are other specific cryptocurrencies whose intent is to avoid the actual computer mining and use actual bullion in a reserve to set their prices. It’s quite the approach, with a few flaws, like all new cryptocurrencies…read about this coin attempting to survive as a “gold-backed” digital currency.
All in all, I find physical metal the greatest way to hedge against inflation and preserve your wealth, while I find properties of cryptocurrencies extremely convenient and revolutionary. The market will keep developing ways to merge the two and I look forward to more of that in the future. Best of luck to Cryptogenic Bullion!
____________________________________________________________________________________________
I wanted to take on two questions this week (we had a slew of them come in so I couldn’t fathom just addressing one!)

I have been collecting baseball cards for the past few years. I am sick of my collection going down and down and down in value. I would like to start to collect silver bars instead. Is this a good idea? What is the best way for me to purchase silver coins/bars? I would like to be able to go somewhere local as I love “instant gratification”
Oh baseball cards, stamps, Beanie Babies, even numismatics…they create this halo effect for themselves that lead the collector into thinking they will make millions one day. Well, that actually is possible if the timing works out just right. The thing with collectables is you have to find those niche buyers who are demanding your collection. I think many baseball card collectors would agree that they should’ve sold them off in the prime of baseball card shops, though many may stand behind holding onto theirs. I’m not here to tell you what to do, but in my own life I can’t compare baseball cards to silver bars. Here’s why:
– Silver has industrial value (more uses to it than just a hedge against inflation, which is also why it’s a great way to store your wealth)
– There are plenty of places to liquidate your silver or gold if you’re in a pinch. Not many baseball card stores left (ebay I suppose, but maybe someone can enlighten me on how hoppin’ that business is).
– This is just personal opinion, but I think silver is better to look at than a baseball card.
– It’s a lot harder to counterfeit silver than it is a baseball card, right?
– Less risk in buying silver than baseball cards. Silver has been used as money for 1,000’s of years. Quite the track record.
I hope I’m clear in saying SILVER IS BETTER! Of course, I’m bias, have little passion for baseball and work for Amagi Metals, but I have a feeling many would agree.

Be sure to note that this is not investment advice and merely some insight from a gal who has been immersed in precious metals and cryptocurrency culture for the past couple of years. I do not claim to know it all and encourage people to fill in any gaps that I miss.
Submit your questions for next week’s “Ask Megan” – [email protected]

Jimmy Fallon, We Have a Bitcoin Waiting for You!

In case you didn’t know, Jimmy Fallon isn’t just a comedian, nor was he craving stardom from childhood. Believe it or not Fallon spent his first three years of college studying Computer Science and has said many times that his dream job back in the 90’s was to work for IBM (following in his father’s footsteps).
One of late night’s best is a tech-geek! Meaning he must have some thoughts on Bitcoin that he hasn’t shared with the world yet. That’s why we wanted to reach out to Jimmy Fallon today and let him know we have set aside 1 bitcoin for him to claim from Amagi Metals!
He can contact us at [email protected] or 1-800-882-8496 to receive our offer, with the intention being – we find out if he has already incorporated it into his life or if he’d like to share his thoughts on the decentralized digital currency. So, Mr. Fallon, if you or one of your producers are reading this, get in touch. We’d love to hear your thoughts, share our knowledge and create a dialogue on the mainstream, entertainment stage.
If you have a connection to Jimmy Fallon’s producers or want to see Jimmy Fallon talk Bitcoin, help us by sharing this post.
Amagi Metals is a global eCommerce precious metals dealer. We sell gold, silver, and other precious metal bullion to investors, collectors, and institutions worldwide. We promote financial responsibility and the importance of wealth preservation. Find out more at AmagiMetals.com.

Amagi Metals no longer the only metals dealer in the $10M Bitcoin Sales Club!

Precious Metals Dealers Leading the Way in Bitcoin Sales

It has come to our attention that another company has joined Amagi Metals in the $10 Million Bitcoin Sales Club!  Thanks to the vibrant crypto-community, Bitcoin retailers have been revered over the past six months as revolutionaries aiding the way for widespread adoption. So, congrats Agora Commodities in joining us – what a great achievement! KnCMiner (and we suspect Gyft), of course boasting numbers well above $10m, gives us some goals to reach as business owners.

Bitcoin-friendly companies help increase confidence in Bitcoin, while the Bitcoin community patronizes these businesses graciously. The high volume of Bitcoin customers Amagi has enjoyed has not only improved the Bitcoin community, but has enhanced every customer’s experience. We’ve improved our ship times, customer service and that eventually trickles down to our prices!

We want nothing more as sound money advocates, than to see more alternative currencies compete to provide the market with stable, secure ways to transact. Our recent inclusion of Dogecoin and Litecoin payments is driving more and more people to secure their wealth with precious metals, while enjoying a currency that makes e-commerce easy.

So why are some of the leading retailers in Bitcoin sales precious metals companies?

1. The precious metals community has always been a popular way to store wealth, now you can store this newly created crypto-wealth easily.

2. Those who buy physical precious metals want their purchase quickly and safely; Bitcoin speeds up the payment and shipping process – no more waiting for your check to clear.

3. Those that understand that precious metals are a safe haven know that because they’ve done their research and don’t trust the dollar or the Federal Reserve; much of the Bitcoin community also carries the torch against the inflationary practices of the Fed. What a great collaboration!

4. You can sell your precious metals for Bitcoin as well, it’s a two-way street!

5. Not even the mainstream, widely-used dollar can say it is backed by gold!

We are eager to welcome major companies like Overstock.com and Gyft.com to the $10 Million Bitcoin Sales Club as well as encourage retailers and services all over the world to continue to explore cryptocurrency payment options and incorporate them into your business. The beautiful part is that it helps you and your constituency. You, by creating press, happy customers and streamlined payments – without banks, and customers by providing faster deliveries, less fees and a payment system that is ahead of the curve.

Bitcoin retailers have experienced their fair share of obstacles: Amagi Metals has been dropped by several banks, refusing to work with a Bitcoin-affiliated company. However, it has been proven day in and day out that Bitcoin is providing a service that the market of consumers has been in need of – a transparent, safe and appropriate form of currency for this era. Whether Bitcoin stays the leading cryptocurrency or not, the sales from Amagi Metals and other dealers like Agora Commodities show that cryptocurrencies are here to stay.
Cheers to the next $10 Million!

Despite Worries, Amagi Continues Accepting Litecoin and Dogecoin

Update:
CoinPayments.net was expecting to close down due to FinCEN allegations of “Money Transmitting” without the approval or license to do so. CoinPayments has responded by saying because they send money from “Sender X to Buyer Z”, although dealing with absolutely no fiat currency at all, they will have to discontinue service and foresee other payment processors in the future dealing with the same issue.
The crypto-community poured out their encouragement to the creators and crew of CoinPayments and expressed the unjust nature of FinCEN’s allegations. CoinPayments.net has been the leader for altcoin payments and many businesses revere their service – including Amagi! Here was the orginal message posted on their home page when the announcement was made:

“It is with a heavy heart that we have to announce the closure of CoinPayments.net. FinCEN has ruled that Bitcoin is in their purview which would make us a money transmitter. We simply do not have the resources to register with FinCEN and most of the 50 states as a MSB and comply with all of the AML/KYC laws (and no realistic way to raise the funds to do so.)
The shutdown will happen in 3 stages:
We will stop accepting new user registrations effective immediately.
We will stop processing new transactions at 11:59:59 PM EST on March 24, 2014 (transactions already in progress at that time will be completed).
The website will otherwise remain operational until 11:59:59 PM EST on March 31st, 2014 when it will be shut down.
Any refunds due must be requested by the end of March 31st, 2014 and any funds held in your account withdrawn. Keeping the website open for a week from the last new transaction should give everyone ample time to wrap up their affairs in the site.
We extend our sincerest apologies to all of our merchants and customers who have relied on CoinPayments for over 7 months.”

This bad news lived briefly. Shortly after the shutdown was announced, CoinPayments was purchased by a leader in the Bitcoin community – under the company name Cycloid. Operations were expected to be halted at the end of March, yet now there will be no interruptions with CoinPayments.net and Amagi Metals will happily continue accepting Litecoin and Dogecoin!
We’ll update you with any more news on CoinPayments management change, but rest assured your LTC and Doge are as good as gold around here!