Coin minted in gold. Bullion coins are minted by governments and are traded mostly on the value of their gold content. Major gold bullion coins include the American Eagle, the Canadian Maple Leaf, the Mexican Peso, the Australian Kangaroo, and the South African Kruggerand. Other gold coins, called Numismatic Coins are minted in limited quantity and trade more on the basis of their aesthetic value and rarity, rather than on their gold content. Numismatic coins are sold at a hefty markup to their gold content, and are therefore not as pure a play on gold prices as bullion coins.

A gold coin is a coin made mostly or entirely of gold. Gold has been used for coins practically since the invention of coinage, originally because of gold’s intrinsic value. In modern times, most gold coins are intended either to be sold to collectors, or to be used as bullion coins, coins whose nominal value is irrelevant and which serve primarily as a method of investing in gold. Gold coins then had a very long period as a primary form of money, only falling into disuse in the early 20^th century. Most of the world stopped making gold coins as currency by 1933, as countries switched from the gold standard due to hoarding during the worldwide economic crisis of the great depression. In the United States, 1933’s Executive order 6102 forbade the hoarding of gold and was followed by a devaluation of the dollar relative to gold, although the United States did not completely uncouple the dollar from the value of gold until 1971.

Uncertain economic conditions increase the pressure on business leaders to find clear cost-cutting measures. For many companies, automated procurement tools fit the bill- slashing the fat from indirect purchases and reigning in maverick buying. But even greater opportunities for value creation exist earlier in an organization’s procurement activities: during the supplier sourcing process.

During this process, organizations typically decide what and when to buy, who to buy it from, how often to buy it and how to measure a supplier’s performance in terms of quality, timeliness and responsiveness. The answers to these questions lay the groundwork for the corporation’s overall cost structure, often strategically locking companies into procurement expenses for years to come.

But executives can now optimize their strategic sourcing opportunities and cut related cost from the beginning of the procurement process. A new generations of strategic sourcing solutions help companies to address the entire spectrum of purchasing activities, with a breadth and depth that includes crucial sourcing decisions. “The opportunity presented by strategic sourcing technology to drive very immediate and sustainable return on investment is unmatched,” says Richard Waugh, executive vise president and counfounder of B2e Markets. “And that’s very appealing in today’s economic conditions”.

B2e Markets, founded in 1999 by General Electric sourcing practitioners Waugh and Orville Bailey, offers strategic sourcing technology designed to flexibly and modularly help companies more efficiently manage their sourcing activities- the gain the associated savings that naturally follow. Solutions are available as in-house licensed applications or as a hosted suite.

One satisfied B23 Markets customer is Praxair, a 94-year-old manufacturer of industrial gasses head quartered in Danbury, Connecticut.

The world’s third largest industrial gas company, Praxair spends $3.5 billion annually on supplies and services, including nearly $1.5 billion on indirect and capital goods. In the late, 1990’s the company successfully implemented a comprehensive automated procurement program- including reengineered processes, electronic requests for quotes and even a data mart of spending information- to reduce costs and increase purchasing efficiencies.