APMEX News Blog

Weekly Market Recap 11/06/09

noreply@blogger.com (APMEX) — Fri, 06 Nov 2009 22:31:00 +0000

Gold reached an All-Time High as it broke the $1,100.00 an ounce threshold when the U.S. Labor Department announced the overall jobless rate had jumped to 10.2%! A total of 7.3 Million jobs have been lost since the recession began in December of 2007. Those 7.3 Million jobs equate to one in every 20 private sector positions being eliminated. Nearly 2 Million Americans are scheduled to lose their unemployment benefits by the end of the year.

This rise in the price of Gold came on the heels of another large gain this week when the Reserve Bank of India made the largest single gold purchase in the past 30 years. India purchased $6.7 Billion Dollars of Gold (200 Metric Tons) from the International Monetary Fund (IMF). The transaction is equivalent to 8% of the world’s annual mining production. India’s purchase is half of a planned purchase with the IMF and it surprised traders who expected China to be the most likely buyer. According to Reuters, India is the tenth largest holder of Gold amongst the central banks.

The Federal Reserve agreed to leave its key interest rates alone this week, stating that the economic recovery is still too tentative and needs help. The central bank’s interest rate is important because it is the foundation for which most U.S. interest rates are set. The Fed also highlighted four main issues that are troublesome: continuing job losses, sluggish incomes, a weak housing market and very tight credit.

Needless to say, the Gold inventory at APMEX is large, but items are selling very quickly based on all of this news. If you are considering adding additional Gold to your position, you may want to do it now.

Gold:

Spot Gold prices opened this week at $1,057.90. The high during the week was on Friday, November 6th, at $1,102.30, while the low for the week was on Monday, November 2nd, at $1,053.30. Gold ended the week with a gain of $40.60 at $1,098.50. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles and 2009 1 oz. Gold Canadian Maple Leafs were in high demand due to media coverage on Gold throughout the week.

Silver:

Spot Silver prices opened this week at $16.51. Silver reached a high of $17.64, on Friday, November 6th. The low for silver occurred on Monday, November 2nd at $16.27. Silver ended the week up $0.91 at $17.42. 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, 1 oz. .999 Fine Sunshine Minting Silver Rounds and 1 oz. .999 Fine Silver Buffalo Rounds were very strong sellers on the APMEX website.

Platinum:

Spot Platinum prices opened this week at $1,325.10, and ended the week up $25.70 at $1,350.80. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs, and 10 oz. Pamp Suisse Platinum Bars.

Palladium:

Spot Palladium prices opened this week at $322.50, and ended the week up $10.30 at $332.80. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars are quite popular with palladium investors.

Numismatics:

APMEX’s Numismatic Closeout sale is in full swing! Over 20,000 items have already been sold, however, there are still many great deals to be had. Not surprisingly, Morgan and Peace Silver Dollar VAM’s have been extremely popular. From the minor varieties to the major rarities, these coins have all been selling quickly across the board. To refresh your memory on VAM’s click here to read our blog post from a few weeks ago. In addition to VAM Silver Dollars being in high demand, Bulk Silver Dollars have been selling exceptionally fast. Alluding to yet another past blog post, Carson City Morgan Silver Dollars have also been selling well. No matter the grading service or the grade, Carson City Silver Dollars continue to capture the eyes of the collectors.

This week APMEX will feature another coin that came from the Carson City Mint. As most coin collectors know, Carson City coins often command hefty premiums. 1893 is the final year Morgan Silver Dollars were minted in Carson City. As this was the final year, there is much love and affection given to this particular coin. Many of these particular coins are heavily bagmarked. Most Mint State examples are on the low end of the Mint State scale, grading mostly MS-61 or MS-62. 1893-CC’s that grade higher than MS-63 are few and far between. To find a specimen with little or no bagmarks is an even tougher feat, and that will always come with an even greater premium. Most 1893-CC’s are in circulated condition and will fit nicely in any set. Many of these coins sat in Mint bags for 6 years until the Carson City Mint officially closed its doors and the remaining bags were shipped off to San Francisco and/or Washington D.C. where these bags, over time, were paid out to banks well into the 1920’s. With a mintage of only 677,000, this coin will always be high on a Morgan Silver Dollar collector’s want list.

Weekly Market Recap 10/30/09

noreply@blogger.com (APMEX) — Fri, 30 Oct 2009 21:31:00 +0000

Early in the week, Reuters reported that China said it should increase its holdings of Euros and the Japanese Yen in its foreign reserves. This report had a negative effect on the already slumping U.S. Dollar and is further evidence that our currency’s stability is in question throughout the world. The U.S. Dollar fell to a 14-month low against the Euro and the Japanese Yen this week.

Consumers are still very concerned about whether we will have an economic recovery or not. The Consumer Confidence Index dropped to lower-than-expected levels this month, surprising some economists. Reuters reported that there are growing concerns that the job market conditions will worsen in the near term. The director of The Conference Board of Consumer Research Center reaffirmed this report by saying that the short-term outlook has grown more negative. Meanwhile, a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead.

This week, more Americans who were surveyed said that jobs were “hard to get” in October and they remain quite pessimistic about their future earnings. This may have a negative impact on holiday spending. Economists watch consumer confidence because spending on goods and services by Americans accounts for about 70% of U.S. economic activity by federal measures. The upshot of all of this bleak economic news is that more investors than ever before are increasingly relying upon precious metals as the “defensive asset” component in their investment portfolios.

APMEX announced its Numismatic Closeout Event this week. APMEX will no longer be selling certain types of coins, currency, collectibles and supplies. This decision has been made to accommodate the growing requests from our customers for more precious metal and bullion-related items. If you are a collector, take advantage of this great opportunity to save big money on your favorite numismatic items. At these prices, many products are not going to last long. Visit www.APMEX.com to see all of our price-reduced products.

Gold:

Spot Gold prices opened this week at $1,054.00. The high during the week was on Monday, October 26th, at $1,070.50, while the low for the week was on Wednesday, October 28th at $1,026.10. Gold ended the week with a small loss of $8.00 at $1,046.00. This week, 2009 1 oz. Gold American Eagles, 2009 Fractional American Gold Eagle Coins, 2009 1 oz. Gold Buffalo Coins and 1 gram APMEX Gold Bars were the most popular items purchased.

Silver:

Spot Silver prices opened this week at $17.67. Silver reached a high of $17.70 on Monday, October 26th. The low for silver occurred on Thursday, October 29th at $16.12. Silver ended the week down $1.34 at $16.33. This week 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and APMEX 1 oz. .999 Fine Silver Bars were the most popular silver bullion items purchased at APMEX.com.

Platinum:

Spot Platinum prices opened this week at $1,369.00, and ended the week down $37.10 at $1,331.90. Many collectors have noted the U.S. Mint’s decision not to strike any additional Platinum Eagle coins for the remainder of this year. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1 oz. Platinum American Eagles.

Palladium:

Spot Palladium prices opened this week at $338.50, and ended the week down $16.00 at $322.50. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars were popular with investors.

Numismatics:
As we enter November and the days become shorter and colder, the pace of business at APMEX has been heating up! In recent weeks, Cull Silver Dollars have been a big seller, especially since the spot price of silver has dropped slightly, along with the temperature.

An important business note is that APMEX is officially limiting the types of numismatic items that it will offer in the future. To accommodate that fact, we are having a “Numismatic Closeout Event” on many different numismatic products. APMEX will continue to buy and sell Silver Dollars, Pre-1933 U.S. Gold, 40% and 90% Silver coins, and everything else that is bullion-related. We will be closing out Type Coins, Commemoratives, Proof Sets, Currency, Books, Supplies and many other categories. There are many fantastic closeout deals available. You should act fast before the coins you want disappear!

Continuing our analysis of Silver Dollars, we would like to discuss one of the “Most Common” and yet, “Most Beautiful” of all of the Morgan Silver Dollars – the 1881-S. This is a relatively common coin, but it is RARE to ever find one below Very Fine grade! With a mintage of 12,760,000 coins struck, the "81-S" is certainly available in grades up to and including MS-67. This date is typically very well-struck with booming luster and a cartwheel effect that sometimes requires sunglasses to view it! It is generally a very attractive coin that is always sure to please the most discriminating investor or collector. This coin, along with its other San Francisco brethren – the 1879-S, 1880-S, and 1882-S are some of the earliest and most beautiful coins in the Morgan Dollar series.

Weekly Market Recap 10/23/09

noreply@blogger.com (APMEX) — Fri, 23 Oct 2009 21:38:00 +0000

ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday that gold prices could rise to a high of $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth, as reported to Reuters.

The unemployment rate has been increasing at an alarming rate, yet the Dow continues to move a bit higher. According to Bloomberg.com, the economy has lost 7.2 million jobs since the start of the recession and the trend is still going the wrong way. The country’s unemployment rate will reach 10% by the first quarter of 2010, says a U.S. economist, and the Labor Department said that 15 states already had an unemployment rate above 10%. Stocks have been moving upward, but the reporting is clouded by earnings that have risen only because companies have cut their costs deeper than falling revenues. Real improvement and growth will not be visible until the economy allows for new business, increased revenue and new customers.

The U.S. Dollar continues its roller coaster ride, as even more discussions from around the globe about the “Dollar Crisis” surface. According to the Treasury Department, the U.S. Dollar has fallen 15% in just seven months against a basket of the world’s major currencies. Should the trend move downward another 6%, it will exceed the all time lows. Many experts believe that inflation is inevitable due to interest rates staying at or near zero for quite some time.

The rising cost of oil is also troublesome this week. The U.S. Energy Secretary said that the rising cost of oil could damage the world economy just as it begins to rebound. In addition, he said that a sharp upswing in oil prices could hinder a global economic recovery and pointed out that last year’s oil price spike was a disaster for the world economy.

This week, APMEX was proud to announce that it was one of the first precious metal dealers to be able to pre-sell the 2009 Fractional American Gold Eagle coins to its customers. These highly anticipated coins will likely sell out quickly, so buy yours today before it’s too late. This weekend, APMEX is also rolling out its “WOW Weekend” promotion. Customers will be able to take advantage of 10–ounce .999 Fine APMEX Silver Bars at only $0.69 per ounce over spot in any quantity. The sale goes through Sunday, October 25th, at midnight, or while supplies last, so purchase yours now. APMEX would like to thank its customers for their continued business and let them know that we look forward to fulfilling all of their precious metal needs in the future.

Gold:

Spot Gold prices opened this week at $1,049.60. The high during the week was on Friday, October 23rd, at $1,068.50, while the low for the week was on Wednesday, October 21st, at $1,048.10. Gold ended the week with a gain of $6.00 at $1,055.60. This week, 2009 1/10th oz. Gold American Eagles, 2009 1 oz. Gold Buffalo Coins and 1 oz. Random Year Gold American Eagles were the most popular items investors purchased.

Silver:

Spot Silver prices opened this week at $17.48. Silver reached a high of $17.97 on Friday, October 23rd. The low for silver occurred on Thursday, October 22nd at $17.38. Silver ended the week up $0.23 at $17.71. This week, investors concentrated on 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and 1 oz. Sunshine Minting Silver Rounds.

Platinum:

Spot Platinum prices opened this week at $1,348.50, and ended the week up $15.10 at $1,363.60. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1/10 oz. Platinum American Eagles were popular in steady trading.

Palladium:

Spot Palladium prices opened this week at $331.00, and ended the week up $7.00 at $338.00. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars are consistently popular palladium items.

Numismatics:
As bullion continues its upward trend, more and more investors are eagerly buying physical assets such as bullion gold and silver. Since APMEX broke the news about the availability of the Fractional American Gold Eagle coins, they have taken up most of the headlines. Not to be outdone, silver is quietly gaining ground.

Cull Silver Dollars remain strong and coins such as the 1921 Morgan Silver Dollars in circulated collector’s grades and Peace Silver Dollars in Very Good to Extra Fine condition are once again very popular. The common date Morgan and Peace Silver Dollars in higher grades that are graded by a third-party grading service are also selling well. These items continue to make a lasting impression on the investing public.
Morgan Silver Dollars are arguably the most collected coin in the world.

Last week, we shifted gears to accommodate a collector’s point of view and talked about VAM varieties. This week, we will highlight a beautiful coin from the Carson City Mint which produced Morgan Silver dollars from 1878 to 1893. As most coin collectors know, coins from the Carson City Mint generally command quite a premium. 1878 was the first year that Morgan Silver Dollars were minted and that was also the first year that these coins were produced in Carson City, Nevada.

This coin was struck with a "Reverse of 1878" die variety which has a parallel top arrow feather and seven tail feathers. The 1878-CC had the second highest Carson City mintage with 2.2 million coins minted. It is one of the more consistently well struck coins in the entire Morgan series with very pleasing luster. Due to the fact that this is the first year of issue, well struck, and generally pleasing to the eye, this has always been a popular coin with collectors.

Top 5 Reasons To Add Precious Metals To Your IRA

noreply@blogger.com (APMEX) — Tue, 20 Oct 2009 15:17:00 +0000

Now, more than ever, people are looking for ways to help secure their hard-earned retirement dollars after significant losses due to the weakness in the stock market and U.S. economy over the past year. Precious metals are a great way to diversify your holdings and likely increase your financial security.

Here are the APMEX Top Five reasons to add precious metals to your retirement plan:

1. The profitability of precious metals cannot be denied. Since Jan. 1, 2009, gold has increased nearly 20% in value, and many experts predict that the value of precious metals may continue to rise.

2. Diversifying your assets is the smarter, safer way to invest your money and plan for retirement.

3. Precious metals are a good way to provide financial stability, especially in today’s volatile economic climate.

4. A portfolio with 5% to 10% invested in precious metals such as gold and silver is a great way to hedge against inflation.

5. A tax-free exchange means you can easily transfer funds from your IRA to precious metals without being penalized.

Interested in learning more? Read more about how you can invest in precious metals by visiting our IRA Investment Page and IRA FAQs.

Questions? Feel free to call our APMEX Precious Metal IRA Specialists toll free at 1-800-418-0235 or email us at ira@apmex.com.

APMEX Bonzer Trip Winner Announced!

noreply@blogger.com (APMEX) — Fri, 16 Oct 2009 22:51:00 +0000

For those of you who have been following the APMEX – Perth Mint ‘Escape to Australia’ trip give away, we have a grand-prize winner!

We are very pleased to announce that Emmanuel R., a proud service member of the United States Army, has accepted his award today as the grand-prize winner of this once-in-a-lifetime vacation give away.

Wally Kang Aroo, our Australian Tour Guide, pulled the winning name and Scott Thomas, President and CEO of APMEX, called the lucky winner to congratulate him personally.

Emmanuel and his wife are very excited to win this trip. They are both looking forward to a second honeymoon in Perth, Australia, care of APMEX and The Perth Mint.

This contest ran from September 1, 2009 through September 30, 2009 on http://www.apmex.com/. The grand-prize included round trip airfare for two to Perth, Australia, provided by the American Precious Metals Exchange. Also included are luxury hotel accommodations, $1,000.00 AUS in spending money, and a “Behind the Scenes” VIP tour of the Perth Mint, thanks to the world-famous Perth Mint!

Once again, Congratulations Emmanuel! Have a bonzer time on your walk about trip at the Perth Mint!

Weekly Market Recap 10/16/09

noreply@blogger.com (APMEX) — Fri, 16 Oct 2009 20:29:00 +0000

Gold hit another record high this week, as the yellow metal moved above $1,070.00 per ounce. “There’s lots of concern about the weakness of the dollar, and this had been driving gold,” said Peter Fertig, owner of Quantitative Commodity Research to the financial website Bloomberg.com. “The fear that central bank exit strategies will come too late to prevent inflation is also giving support to gold.”

As the U.S. Dollar continues to slide, gold may continue its climb to even higher prices. Talks of foreign countries replacing the dollar as the world’s reserve currency were still present in the marketplace this week. China, among others, is considering how to diversify its foreign exchange reserves which lends merit to the continued weakening of the U.S. Dollar. For example, the Dollar Index, a measure against six major currencies, fell about 14% since March, while gold rose about 13% during that same period.

The U.S. Commerce Department released reports this week saying that U.S. business inventories fell by 1.5% in August. This represented the largest drop in the 17 years that the data has been collected. The decline was also the 12th in a row and is an indicator that businesses are still cutting back to deal with weak consumer demand.

APMEX is proud to announce that we have been selected by the Austrian Mint as one of the exclusive distributors of the very limited edition 20-ounce Gold Philharmonic Coin. This coin has an extremely low mintage of only 6,027 coins, of which only 2,009 will be available for sale in the United States. APMEX has these beautiful coins in stock and ready to ship. Enjoy your weekend and thank you for choosing APMEX for all of your precious metal needs.

Gold:
Spot Gold prices opened this week at $1,051.80. The high during the week was on Wednesday, October 14th at $1,070.50, while the low for the week was on Friday, October 16th at $1,042.20. Gold ended the week with a gain of $2.80 at $1,054.60. This week, 2009 1 oz. Gold American Eagles, 2009 1 oz. Gold Buffalo Coins and 1 gram APMEX Gold Bars were some of the most popular items that investors purchased.

Silver:
Spot Silver prices opened this week at $17.79. Silver reached a high of $18.06 on Wednesday, October 14th. The low for silver occurred on Friday, October 16th at $17.18. Silver ended the week down slightly at $17.50. This week 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and APMEX .999 Fine 1 oz. Silver Bars were quick sellers on the APMEX website.

Platinum:
Spot Platinum prices opened this week at $1,344.80, and ended the week up $5.90 at $1,350.70. The most popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $322.00, and ended the week up $8.90 at $330.90. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars sold quickly on APMEX.com.

Numismatics:
The spot price of Silver has certainly made its impact felt here at APMEX. Peace Silver Dollars grading from Very Good to Extra Fine have been giving Cull Silver Dollars a run for their money as APMEX’s leading choice among investors and collectors. These coins were minted between 1921 and 1935 and they contain .77344 ounces of pure silver. They are an excellent way of positioning your portfolio or collection in silver. Morgan Silver Dollars that grade Extra Fine also continue to arouse investors as silver maintains its slow but steady rise. The smart investors are continuing to add these Silver Dollars to their portfolio on a regular basis.

As we continue our series on Silver Dollars we will be getting into more of a collector's state of mind – by discussing VAM’s. What is a VAM? A VAM is a specific die variety of silver dollar as defined by Leroy Van Allen and A. George Mallis. Many of these varieties are very highly collectible. In fact, there are Silver Dollar collectors that only collect VAM’s. There is a case to be made that every Morgan Silver Dollar is a VAM, however, there are only a few dozen varieties that are popular and worth considerable sums of money.

Ironically, the more interesting sounding names such as Scarface, Alligator Eye, Spitting Eagle, and Hot Lips, are the more sought after varieties, regardless of their rarity. As there were hundreds of thousands to millions minted, there can be multiple VAM’s for the same date and mint mark. Both the Scarface and Hot Lips varieties can only be found on the 1888-O. Because of the cost involved in collecting and attributing VAM’s, many are graded by a third party grading service. But there are many specialists in the hobby that can easily decipher one VAM from another. APMEX has its very own VAM specialist and has a wide variety of VAM silver dollars in both certified and uncertified states. Click here to view our complete list of VAM varieties!

MARKET ALERT - Weaker Dollar Drives Record Gold Price Again

noreply@blogger.com (APMEX) — Tue, 13 Oct 2009 18:18:00 +0000

In overnight trading, Gold reached a new all-time high of $1,069.00 on continued fears of a weakening U.S. Dollar!

Gold continues its steady upward march, fueled by a weakening U.S. Dollar and fears of inflation. According to CNN Money, “There is speculation that the weak dollar will continue to depreciate as the U.S. budget deficit swells and investors flock to higher yielding currencies. The dollar index, a measurement against a basket of currencies, has tumbled about 14% from its March high.”

Whenever times of economic uncertainty are upon us, smart investors buy GOLD! This news is everywhere in this morning’s headlines in the mainstream financial media:

“Gold Pushes to another record high Tuesday” – Yahoo Finance
“Gold hits new high on rising oil, weaker dollar” – MarketWatch.com

If you purchased GOLD one week ago when we alerted you to the fact that it had broken new ground, each ounce of Gold that you purchased would have increased in value by approximately $35.00 or 3%. That is an amazing return in just one week.

No one is certain whether Gold prices will continue to climb, but each day more analysts are predicting higher and higher prices. If you are planning to add gold to your investment portfolio, now may be the perfect time to do so.

At APMEX, our supply is limited so buy your GOLD now!

Weekly Market Recap 10/09/09

noreply@blogger.com (APMEX) — Sat, 10 Oct 2009 01:00:00 +0000

This week, Gold broke through its all time high and set a new benchmark at $1,061.10 per ounce. Concerns about the weakened U.S. Dollar and a second economic downturn, along with increased risk of higher inflation, were the leading causes for the commodities boost this week. Other factors had an impact as well, such as former Federal Reserve Chairman Alan Greenspan’s comments that unemployment will continue to rise in the United States for some time.

Rumors of Gulf Arab states along with Russia, China, Japan and France replacing the U.S. Dollar as the standard for trading oil surfaced in London this week. Though this report was later denied, the U.S. Dollar dropped even further, which in turn increased precious metals appeal to investors.

A Bank of America Merrill Lynch analyst has predicted that Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above the $100 a barrel mark. Additionally, Francisco Blanch, head of Global Commodity Research, said that for the world economy to resume growth of 5%, commodity supplies will have to expand by a similar rate which will create shortages due to emerging market growth. Savvy investors will pay close attention to these events and use precious metals as a hedge against inflation.

This week, the United States Mint announced that it will offer for sale 2009 one-ounce American Buffalo Proof Gold Coins and one-ounce American Eagle Platinum Proof Coins. The tentative release dates for these products are October 29th and December 3rd, respectively. In addition, the mint will release one-ounce 2009 American Buffalo Gold Bullion Coins on October 15th and the fractional 2009 American Eagle Gold Bullion Coins in the one-half, one-quarter and one-tenth ounce weights on December 3rd.

This week, APMEX customers took advantage of low premiums on 2010 Silver Canadian Maple Leafs. They also had the opportunity to pre-order their 2009 American Buffalo Gold Bullion Coins. Both offers had a very high response due to recent economic events that make the flight to precious metals extremely attractive. To view a full list of bullion items, visit APMEX.com — the Gold Standard in Bullion Trading.

Gold:
Spot Gold prices opened this week at $1,001.20. The high during the week was on Thursday, October 8th at $1,061.10, while the low for the week was on Monday, October 5th at $1,001.20. Gold ended the week with a gain of $48.90 at $1,050.10. This week, 2009 1-oz. American Gold Buffalos Coins, 2009 1-oz. Gold American Eagles and Random Year 1-oz. Canadian Gold Maple Leafs saw tremendous demand in an upward market.

Silver:
Spot Silver prices opened this week at $16.20. Silver reached a high of $17.95 on Thursday, October 8th. The low for silver occurred on Monday, October 5th at $16.03. Silver ended the week up $1.55 at $17.75. This week 2009 1 oz. Silver American Eagles, 2010 1-oz. Canadian Silver Maple Leafs and 1 oz. APMEX .999 Fine Silver Bars held their own in the gold rush.

Platinum:
Spot Platinum prices opened this week at $1,284.00, and ended the week up $55.00 at $1,339.00. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1-oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $300.50, and ended the week up $23.60 at $324.10. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10-oz. Credit Suisse Palladium Bars continue to keep the eye of focused investors.

Numismatics:
It is of great interest this week to note that the spot price of Gold, and to a lesser degree that of Silver, has been soaring. Collectors and investors alike have been clamoring for both metals. APMEX has a wide variety of choices which have been selling very quickly as many financial advisers and analysts believe this is only the beginning of a historic rise in the metals market.

APMEX’S best seller this week in terms of numismatic silver has been Cull Silver Dollars which are a mixture of both the Morgan and Peace series. These coins contain 90% silver and are selling as low as $1.69 over melt. This is an excellent investment if you are looking to create a position in silver. As the spot price of silver continues to rise, so does the value of dollars in Almost Uncirculated and Brilliant Uncirculated conditions. These coins can be purchased for their collector value, but they are also purchased quite steadily for their bullion value as well.

This week APMEX will highlight the 1921 Peace Silver Dollar. This year was a transitional year for the US Mint. It had struck Morgan Silver Dollars for the first time in 16 years, but it was also the last time. Between December 28th to the 31st 1,006,473 1921 Peace Silver Dollars were minted.

The coin, designed by Anthony de Francisci, was struck in high relief, which means that the design was even with or above that of the rim. This caused an extremely weak strike on the examples that were struck later, as the pressure to strike each coin was lessened. The evidence is most noticeable on the Obverse around the ear and on the Reverse where it lacks feather detail on the eagle’s breast. Many Uncirculated 1921 Peace Dollars are graded as Extra Fine or Almost Uncirculated incorrectly, because of this weak strike. A large number of the 1921 Peace Dollars do not have blazing luster as one would expect to see on uncirculated specimens, while others, exhibit overwhelming luster. This is one of the few key dates in the Peace Silver Dollar series and there has always been a high demand for these coins as it was struck in high relief and it is the first year of issue. This is a highly collectible series as it is America’s last 90% silver dollar!

Coin Chat Radio Interview: Scott Thomas CEO & President of APMEX

noreply@blogger.com (APMEX) — Fri, 09 Oct 2009 22:37:00 +0000

Take a few minutes and listen to Scott Thomas, Founder and CEO of APMEX, discuss the current precious metals market with Dave Harper, Editor of Numismatic News.
If you are having trouble seeing the audio player, you can click here to open this page in a new browser window.

Radio Interview With Scott Thomas, APMEX CEO & President.

GOLD Breaks Record High!

noreply@blogger.com (APMEX) — Tue, 06 Oct 2009 13:49:00 +0000

MARKET ALERT! MARKET ALERT!

In overnight trading Gold reached an 18 month high and, as we write this, it has broken NEW HIGH GROUND and is currently at $1,036.30! That price broke through the previous all-time high of $1,033.90 achieved on March 17, 2008.

What is causing this recent price rise and will it be sustained? There is incredible pressure on the US Dollar to no longer be the currency of choice for trading oil. According to a report released by “The Independent,” a British news organization, “Gulf Arab (states) are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, and GOLD…”

This unparalleled pressure on the US Dollar has created a buying frenzy for Gold. Whenever times of economic uncertainty are upon us, smart investors flock to GOLD! This news is everywhere in mainstream financial media morning headlines:

“Gold May Advance for Second Day as Weaker Dollar Stokes Demand” – Bloomberg.com
“Potential End of Dollar-Based Oil Deals Helps Gold Shine” – MarketWatch.com

Many analysts are predicting new record highs for Gold! NOW is the time to buy Gold before the market pressures raise it into uncharted levels!

If you were planning on adding gold to your investment portfolio, now may be the perfect time to do so before the “herd” reads this news and the stampede to buy gold, at much higher prices, will be upon us.

At APMEX, our supply is limited so buy your GOLD now while we still have some in stock!

Never miss another milestone or record high - Set Up Your Market Alerts for Gold Now!

Weekly Market Recap 10/02/09

noreply@blogger.com (APMEX) — Fri, 02 Oct 2009 22:32:00 +0000

Just when Wall Street wanted you to think it was okay to wade back into the stock market, some all too familiar sharks continued to muddy the water for investors.

The Fall of 2008 marked the beginning of the biggest financial down slide in the U.S. since the Great Depression. Unfortunately, not much has changed in the big picture. This week, hopes of financial healing took another hit as the Labor Department released new unemployment data showing a 26-year high at 9.8 percent. The month of September saw 263,000 jobs added to the casualty list, bringing the total to 15.1 million Americans out of work.

Older Americans are particularly being affected by job market losses according to the Social Security Administration, resulting in a 23 percent increase in retirement benefits applications.

This news leaves many asking what goals the stimulus package has achieved, as it has not yielded positive effects on consumer spending, one of the primary factors in shoring up any economy. Meanwhile, the threat of massive inflation weighs heavy on investors’ minds.

Most self-directed investors have quietly been amassing silver and gold over the past year to protect their assets. Many gold and silver investors have been predicting these events for some time and have been stockpiling precious metals throughout the year.

Investors across the nation took full advantage of APMEX’s One Million Ounces of Surplus Silver Sale during the last week of September. At the end of the month, APMEX had just over one hundred thousand ounces remaining from the sale, proving that the flight to precious metals is not over – it is just beginning as people continue to realize the true value of preserving wealth with hard assets.

Gold:
Spot Gold prices opened this week at $992.40. The high during the week was on Wednesday, September 30th at $1,009.00, while the low for the week was on Tuesday, September 29th at $984.70. Gold ended the week with a modest gain of $11.00 at $1,003.40. This week, 2009 1 oz. Gold Eagles, 2009 1 oz. Gold Maple Leafs, Gold Sovereigns and 1 oz. Gold Krugerrands were the most popular items investors purchased.

Silver:
Spot Silver prices opened this week at $16.06. Silver reached a high of $16.63 on Wednesday, September 30th and repeated the high on Thursday, October 1st. The low for silver occurred on Monday, September 28th at $15.80. Silver ended the week up $0.15 at $16.21. This week 2009 1 oz. Silver American Eagles, 1 oz. APMEX Silver Rounds, ½ oz. APMEX Silver Rounds and 2009 1 oz. Silver Philharmonics were steady movers on the APMEX website.

Platinum:
Spot Platinum prices opened this week at $1,279.70, and ended the week up $6.30 at $1,286.00. Many investors continue to be genuinely interested in platinum. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1/10 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $294.00, and ended the week up $6.50 at $300.50. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 1 oz. Palladium Lewis & Clark Rounds were popular with investors.

Numismatics:
Unquestionably, the most collected coin in the world is the Morgan Silver Dollar. This coin was named after its designer, George T. Morgan, and minting began in 1878. The series culminated in 1921 after a 16-year absence, between the years of 1905 and 1920. Beginning this week, APMEX will highlight a particular date and mintmark of silver dollar and share this information with you. These reports may unlock some of the reasons why this particular series of coins has become so popular. Is it the beautiful design? Is it because each coin contains .77344 ounces of pure silver? Whatever the reason, these coins are the most popular in the world. This week we will look at the 1889-CC.

It is not lost on any coin collector or investor that coins from the Carson City (Nevada) Mint command a premium. The 1889-CC is no exception. With a total mintage of only 350,000 business strikes, this is one of the rarest coins in the series. Frankly, this is a difficult coin in virtually every grade from Almost Good to Mint State-64. It is virtually impossible to find in any grades higher than that. These coins often exhibit a less than average strike, but they are often found with a satin-like to frosty luster. Many higher-grade examples display semi-proof like fields that are designated in the industry as ‘DMPL,’ which stands for Deep Mirror Proof Like. However, as one would rightfully assume, many of these coins have been well circulated, as these coins were spent throughout the remainder of the 19th century and into the 20th century. Consequently, there are a large number of circulated examples. Though 10 obverse dies and 7 reverse dies were used to strike these coins, there are no major die varieties within the date. As more collectors and investors learn about Morgan Silver Dollars every year, these coins may likely increase in value!

Weekly Market Recap 09/25/09

noreply@blogger.com (APMEX) — Fri, 25 Sep 2009 21:34:00 +0000

The Federal Reserve announced Wednesday it would leave interest rates unchanged for the time being. One might think that this fact would push stocks higher and that a foothold for a recovery is taking place. However, exactly the opposite happened. Savvy investors are now concerned that the Fed has failed to expand its direct purchases of mortgages and government debt, which will likely cause higher long term interest rates. Unemployment still remains high, wage growth has not been seen and consumer spending continues to be weak. These are all signs that the economy still faces many large hurdles before recovery can gain ground.

The most recent G-20 Summit meeting was held this week in Pittsburgh and it focused on how to stabilize economies after the current financial crisis. World leaders agreed that the economy is still too weak to back off policies instituted to protect against an even worse recession. A Harvard economist stated this week that “There’s no question that the most significant vulnerability as we emerge from recession is the soaring government debt and it’s very likely that this will trigger the next crisis as governments have been stretched so wide.” While that situation can provide significant difficulties for the world’s economies, it bodes well for precious metals, as they are considered a safe refuge in uncertain times.

The APMEX Surplus Silver Sale was unveiled this week and we received a tremendous response from our customers. APMEX is liquidating one million ounces of silver between now and the end of September. APMEX has drastically reduced the premiums on over 1 million ounces of popular silver products which provides customers with the perfect opportunity to save big dollars while expanding their precious metals positions. Follow the link to view a full list of low premium items during the limited time 1 Million Ounce Surplus Silver Sale.

Gold:

Spot Gold prices opened this week at $1,007.40. The high during the week was on Thursday, September 24th at $1,019.80, while the low for the week was on Friday, September 25th at $984.20. Gold ended the week down $15.00 at $992.40. This week 1 oz. – Random Year Gold American Eagles, 1 oz. – Random Year Gold Krugerrands, and 1 oz. – Random Year Gold Maple Leafs were in very high demand.

Silver:

Spot Silver prices opened this week at $16.95. Silver reached a high of $17.27 on Tuesday, September 22nd, while the low for silver was occurred on Friday, September 25th, at $15.92. Silver ended the week down $0.89 at $16.06. This week 1 oz. – BU Silver American Eagles, 1 oz. – Fine Silver Buffalo Rounds and 5 oz. APMEX Silver Bars sold in very strong quantities.

Platinum:

Spot Platinum prices opened this week at $1,342.00, and ended the week down $62.30 at $1,279.70. Many investors continue to be keenly interested in platinum. 1 oz. – Pamp Suisse Platinum Bars, 1 oz. – 2009 Platinum Canadian Maple Leafs and ½ oz. – Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:

Spot Palladium prices opened this week at $305.85, and ended the week down $11.85 at $294.00. This week, the most popular of these products were 1oz. – 2009 Palladium Canadian Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. – Credit Suisse Palladium Bars.

Numismatics:

After sustaining itself over $1,000.00 for a period of nearly a week, the spot price of Gold has eased off a bit. Because of that fact, demand for gold coins is moving higher! Pre-1933 Gold continues to be a favorite among collectors and investors, as it combines gold value with collector value. $10 Indian Eagles and $10 Liberty Eagles have been becoming a lot more popular since they are more affordable than the $20.00 coin offerings.

The beautifully-designed Mercury Dimes have maintained their popularity especially in collector grades. As is the case with all coins, problem free examples priced at under $1,000.00 are selling strongest, especially the two key dates – the 1916-D and the 1921-D! Mercury Dimes with Fully Split Bands remain a hit with collectors as they continue to buy up any and all that are un-toned and where the split is visible without a magnifying glass.

Classic Silver Commemoratives still remain affordable in as high grade as MS-66! Both White and originally toned examples are selling well with 3rd party graded coins garnering the highest praise and fanfare. Common Commemoratives such as the Booker T. Washington and the Columbian are selling well in circulated grades, as they have a very slight premium of their actual silver content.

Weekly Market Recap 09/18/09

noreply@blogger.com (APMEX) — Fri, 18 Sep 2009 21:28:00 +0000

The stock market flood gates opened up a bit this week as investors continued to speculate on the market’s direction. There are many contradictory company reports that are still being released and that is keeping troubled thoughts on the front burner.

The CFO for MasterCard said that the global economic slowdown continues to prove challenging for consumers. Furthermore she stated that unemployment and low consumer confidence will continue to impact economic growth. There was a big drop in the dollar which boosted metal, industrial and energy stocks. This weakness in the US Dollar also favorably impacted the price of Gold, which was up overall during the week. Skepticism about the market’s direction is ever present and the Federal Reserve Chairman said that the economy is still going to continue to feel very weak. Only time will tell if a more firm direction in the market can be seen or if reform proposals and stimulus money by the government will actually take effect.

Gold:
Spot Gold prices opened this week at $1,005.90. The high during the week was on Thursday, September 17th at $1,024.70, while the low for the week was on Tuesday, September 15th at $992.60. Gold ended the week with a gain of $2.60 at $1,008.50. This week 1oz. – Random Year Gold American Eagles, 1oz. – Random Year Gold Krugerrands, and 1oz. – Random Year Gold Maple Leafs were in very high demand.

Silver:
Spot Silver prices opened this week at $16.75. Silver reached a high of $17.69 on Thursday September 17th, while the low for silver occurred on Monday, September 14th, at $16.32. Silver ended the week with a gain of $0.29 at $17.04. This week 1oz. – BU Silver American Eagles, 1oz. – Fine Silver Buffalo Rounds and 1oz. – 2009 Silver Maple Leafs sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1,322.80 and ended the week with a gain of $14.60 at $1,337.40. Many investors continue to be keenly interested in platinum. 1oz. – Pamp Suisse Platinum Bars, 1oz. – 2009 Platinum Canadian Maple Leafs and ½ oz. – Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $294.95 and ended the week with a gain of $11.05 at $306.00. This week, the most popular of these products were 1oz. – 2009 Palladium Canadian Maple Leafs, 1oz. Pamp Suisse Palladium Bars and 10oz. – Credit Suisse Palladium Bars.

Numismatics:
The price of Gold has exploded! With it near its all time high spot price, APMEX is working hard to ensure that it has enough gold coins and bars for everyone! Pre-1933 US Gold is off the charts as collectors and investors alike are poised for gold to reach or to beat the all-time high price of $1,033.90. The yellow metal has seen an unprecedented rise in popularity and APMEX is stocked with not only bullion coins and bars, but also with $20 Saint-Gaudens gold coins and $20 Liberty gold coins, all the way down to the $2.50 Quarter Eagle Indians and $2.50 Quarter Eagle Liberty coins. From common dates to scarcer dates, all have been moving up in price and moving out rather quickly due to APMEX’s free Market Alerts.

Silver has also exploded, reaching heights that have not been seen in over a year. 90% silver coins as well as Morgan Silver Dollars and Peace Silver Dollars have been extremely hot! Whether they are in bag form or roll form, 90% silver coins have been the most popular item for the silver buying customers at APMEX this week. Nearly anything numismatic that contains silver has seen a flood of attention, regardless of denomination.

While Gold and Silver have been garnering most of the attention this week, Lincoln Cents have still been the burning ember in the fire that has catapulted copper to the top of everyone’s want list. Because 2009 is the bicentennial of Lincoln’s birth and the centennial of the Lincoln Cent itself, nearly every date and mintmark has been red hot. Key date coins graded by a third party grading service such as the 1909-S VDB, 1914-D and 1922 plain have become extremely popular as well as all of the early date Lincoln Cents. APMEX has a wide selection of dates, mintmarks and grades for you!

Weekly Market Recap 09/11/09

noreply@blogger.com (APMEX) — Fri, 11 Sep 2009 21:31:00 +0000

The major stock markets showed mixed trading results during this shortened Labor Day week. Investors restrained their buying on concerns of retreat in the market, after a short rally early in the week. Consumer credit fell $21.6 billion in July to $2.5 trillion, according to a Federal Reserve report released on Tuesday. The drop was more than five times larger than had been forecast and marked the sixth straight month of decline. The global recession has also reduced Americans’ wealth by nearly 22% since the middle of 2007.

The Fed’s Beige Book, an overview of the economy generated by the 12 Federal Reserve banks, showed little or no job growth and increased disappointment in the lack of positive economic news. According to the most recent data on labor turnover, there are 6 unemployed people for every new job opening. Even more lack luster reporting came when the Commerce Department released news that the U.S. trade deficit widened by 16.3% to $32 Billion. This is the biggest percentage increase in the deficit since February 1999. These findings are yet further evidence of the recession not yielding any time soon. Much of this news contributed, in part, to Gold’s climb over the $1,000 per Troy Ounce threshold. If you have not done so already, now is the time to expand your investment portfolio to include precious metals. Visit APMEX.com to see a full list of our precious metal investment opportunities.

Gold:

Spot Gold prices opened this week at $993.70. The high during the week was on Friday, September 11th at $1013.10, while the low for the week was on Thursday, September 10th at $982.80. Gold ended the week with a gain of $13.90 at $1007.60. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.

Silver:

Spot Silver prices opened this week at $16.22. Silver reached a high of $17.02 on Friday September 11th, while the low for silver was occurred on Thursday September 10th, at $16.06. Silver ended the week with a gain of $0.61 at $16.83. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2009 – 1 oz. Silver Maple Leafs sold in very strong quantities.

Platinum:

Spot Platinum prices opened this week at $1260.00, and ended the week up $63.50 at $1323.50. Many investors continue to be keenly interested in platinum. 1 oz. Credit Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:

Spot Palladium prices opened this week at $294.50, and ended the week up with a small gain of $0.90 at $295.40. This week, the most popular of these products were (1 oz.) .999 Fine Pamp Suisse Palladium Bars, 2009 – 1oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars were highly sought after this week.

Numismatics:

As gold continues to stay above the $1,000.00 per Troy Ounce mark, Pre-1933 US gold has seen a great deal of interest here at APMEX. Everything from $20 Saint-Gaudens to $5 Indian Half Eagles to the $1 Dollar gold pieces has seen an influx in popularity. Everybody is buying up as much gold as they can, and as quickly as they can. But is this the beginning of Gold sustaining itself above the $1,000.00 mark? Is the “wait-and-see” mentality finally shifting to “I’ve waited long enough?”

As has been the trend in recent weeks, with gold as high as it is, silver has also been breaking higher ground in terms of its spot price. Morgan Silver Dollars continue their surge through the marketplace and live up to their reputation as one of the most popular and sought after coins in the hobby. Peace Silver Dollars, though less popular than the Morgan design, have also seen an increase in popularity due in large part to the spike in silver spot prices. Even cull Silver Dollars have been extremely popular as a simple method of holding silver, while Brilliant Uncirculated examples of both designs maintain their prestige. The Carson City coins and all of the key dates still remain at the top of everyone’s list!

Weekly Market Recap 09/04/09

noreply@blogger.com (APMEX) — Fri, 04 Sep 2009 21:31:00 +0000

According to Stock Trader’s Almanac, September has continuously been the weakest month of the year for stocks since 1950. This year seems to be no exception as financial stocks were hammered early in the week. The Federal Deposit Insurance Corporation (FDIC) took over 45 banks in the first half of this year. That number jumped to 24 in July alone and another 15 were taken over in August. Now, the FDIC has over 400 banks on its troubled “watch” list, but projects 1,000 banks will fail before the economic crisis is through.

The volume in the stock markets was light this week due to traders not wanting to take many gambles over the long Labor Day weekend. But while the stock market dropped from its high on Tuesday, the precious metals markets saw strong gains, with gold briefly nearing the benchmark of $1,000.00 an ounce. On Thursday, Gold reached $998.00 per Troy Ounce during intraday trading. The fear of inflation from stimulus programs worldwide is now taking a larger foothold. The Labor Department further reinforced economic worries as it released reports on Friday stating the unemployment rate is at its highest point in 26 years.

This week, APMEX rolled out a promotion that allows customers an opportunity to win a round trip for two to Australia through a partnership with The Perth Mint. The 2010 “Year of the Tiger” bullion coins were offered at very attractive prices for this contest. The “Escape to Australia” contest runs through the end of the month, so visit APMEX.com today and register to win! In addition, the APMEX Sunshine Labor Day Sale offers never before offered 1oz. Sunshine Mint Silver Rounds as low as $0.59 over spot. The Labor Day Sale runs throughout the weekend, including Monday, while supplies last.

Gold:
Spot Gold prices opened this week at $956.10. The high during the week was on Thursday, September 3rd at $998.00, while the low for the week was on Monday, August 31st at $943.10. Gold ended the week with a gain of $40.00 at $996.10. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.

Silver:
Spot Silver prices opened this week at $14.77. Silver reached a high of $16.36 on Friday September 3rd, while the low for silver was occurred on Monday August 31st, at $14.55. Silver ended the week with a gain of $1.50 at $16.27. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2009 – 1 oz. Silver Maple Leafs sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1247.90,and ended the week up $12.00 at $1259.90. Many investors continue to be keenly interested in platinum. 1 oz. Credit Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $291.45, and ended the week with a gain of $4.25 at $295.70. This week, the most popular of these products were (1 oz.) .999 Fine Pamp Suisse Palladium Bars, 2009 – 1oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars were highly sought after this week.

Numismatics:
The unofficial end of summer is now upon us. So what do we have to look forward to now? Precious Metals prices have moved up as Gold rose to nearly $1,000.00 this week and silver has also climbed significantly. The metals are certainly taking a turn for the high road and APMEX is right there with you! Pre-1933 Gold, although it never lost much interest, has garnered a great deal of attention with $20 Saint-Gaudens Gold Coins and $20 Liberty Head Gold Coins leading the way. These coins are now worth even more with spot prices steadily rising! Silver also benefited from these rising spot prices. There is now a widespread resurgence in interest in the older silver coins, namely Barber Half Dollars, Barber Quarter Dollars, Washington Quarter Dollars and Mercury Dimes. All have had varied success in the past, but have really received significant interest since the spot silver price has risen over the last few weeks.

Additionally, as silver continues to climb, so does interest for Classic Silver Commemorative Half Dollars. This affordable series maintains its attractiveness to collector’s wallets even in both MS-65 and MS-66 grades and, occasionally, in MS-67 grade! As 2009 is the bi-centennial year of Lincoln’s birth, the 1918 Illinois-Lincoln Commemorative Half Dollar has seen a lot of interest and we are having trouble keeping them in stock! Common date average circulated classic silver commemoratives, such as the Columbian Exposition and the Booker T. Washington, have also been very difficult to keep in stock as the silver content is almost worth more than its numismatic value.

Weekly Market Recap 08/28/09

noreply@blogger.com (APMEX) — Fri, 28 Aug 2009 21:00:00 +0000

This week there was very tight trading brought on by mixed signals from the major markets and mixed company reports. The combinations of all these factors don’t allow for a firm direction to be determined. The Commerce Department reported that the economy contracted 1% in the second quarter making this the fourth consecutive contraction in the economy. This is the longest economic contraction since quarterly records began in 1947. The U.S. Gross Domestic Product is down 3.9% from the second quarter of 2008 and the government will issue its final revision on second quarter GDP in September. Initial claims for unemployment benefits fell 10,000 to 570,000 in the week ending August 22, the Labor Department reported. The most startling news this week is the number of banks that are at risk according to a government report. Over 400 banks, the highest number reported in 15 years, were placed in the “at risk” category this week. The only time the FDIC has been in the red was during the savings and loan crisis of the early 1990’s. During that crisis the FDIC had to borrow $15 billion from the Treasury to correct the problem. Many market prognosticators are not optimistic!

This week, APMEX offered its customers great deals during the “APMEX-TOP 10” Sale and throughout the weekend you can take advantage of these fantastic buys. 10 of APMEX’s most popular bullion items are being offered at very low premiums but the sale ends on Monday August 31st. Make your hard earned money stretch further and don’t miss this great opportunity to save big $$$ at APMEX today!

Gold:
Spot Gold prices opened this week at $955.00. The high during the week was on Friday, August 28 at $963.40, while the low for the week was on Monday, August 24 at $939.50. Gold ended the week with a gain of $2.00 at $957.00. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.

Silver:
Spot Silver prices opened this week at $14.20. Silver reached a high of $14.90 on Friday August 28, while the low for silver was occurred on Thursday August 27, at $14.04. Silver ended the week with a gain of $0.63 at $14.83. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and CHEAP! Morgan &/or Peace Dollars sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1256.00, and ended the week down $6.20 at $1249.80. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $286.90, and ended the week with a gain of $7.70 at $294.60. This week, the most popular of these products are 1 oz. - .999 Fine Pamp Suisse Palladium Bars and 2009 – 1oz. Palladium Canadian Maple Leafs were highly sought after this week.

Numismatics:
The Carson City Mint in Carson City, Nevada, was officially approved to begin minting coins by the United States government on March 3, 1863. Due to the large number of silver mines all across the Nevada Territory, the local mine owners petitioned Congress to establish a mint in the area. Previously, all of the silver that was extracted from the area mines had to be shipped across the rugged Sierra Nevada Mountains to the branch mint in San Francisco. During that dangerous trip, the silver was extremely susceptible to theft. So, the Carson City Mint officially opened its doors on December 13, 1869 and the first coin to debut was the 1870-CC Liberty Seated Dollar. However, by the 1890’s certain Acts of Congress, outright coin thefts, and numerous political factors led the Mint Director to close the doors of that facility on June 1, 1893, thus forever sealing the legacy of the Carson City Mint. APMEX sells a wide variety of coins from the Carson City Mint that bear the coveted “CC” mintmark. Although Carson City minted many different denominations of coins, the most famous ones are part of the well-known Morgan Silver Dollar series. We carry Carson City Morgan Silver Dollars in three different presentations - uncertified coins, certified coins, and in GSA holders! In any presentation, these coins are sure to please!

Early American Copper coins such as Half Cents, Large Cents, Indian Head Cents and Lincoln Cents continue to lead the market charge in 2009. Copper has certainly made its voice heard and many of our customers have listened. Late date Large Cents are particularly selling well along with nearly every date of Half Cent ever produced. 1909, the transitional year from the Indian Head cent coins to the Lincoln cent coins, is more popular than ever with all six examples from that year selling particularly well. Even the 1908-S Indian Head Cent is extremely active in the marketplace. But as usual, key date coins and problem free examples of both series, are the coins that make a lasting impression with collectors.

Weekly Market Recap 08/21/09

noreply@blogger.com (APMEX) — Fri, 21 Aug 2009 21:59:00 +0000

This week has seen more sideways trading as the markets continue to seek a clear and definitive direction. While some are claiming the worst is over, others like Bloomberg.com report that more than 300 banks could still fail across the nation, further affecting small businesses and consumers, the real drivers of the economy. This mixed review has left many precious metals investors highly concerned about the validity of the positive reports and leery of the potential backlash of over confidence in the stock markets.

APMEX’s “The Great American Coin Giveaway” is in full swing. In fact, APMEX shipped out free coins like Silver American Eagles, 1/10 oz Gold American Eagles and 1 oz Silver APMEX rounds to the lucky winners this week. There will be more awards in the coming weeks, but you need to register to have the opportunity to win. Register for APMEX’s Great American Coin Giveaway here. Congratulations to the WINNERS from the Great American Coin Give Away! You can view winners on the contest winners page!

Gold:
Spot Gold prices opened this week at $947.50. The high during the week was at market close on Friday, August 21st at $954.20, while the low for the week was also on Monday, August 17th at $930.00. Gold ended the week up $6.70 at $954.20. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.

Silver:
Spot Silver prices opened this week at $14.73 and set its high for the week on Monday, August 17th, while the low for silver was occurred on Wednesday, August 19th, at $13.49. Silver ended the week down $0.50 at $14.23 This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1265.00, and ended the week down slightly at $1261.00. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to enjoy investors attentions.

Palladium:
Spot Palladium prices opened this week at $276.00, and ended the week with a gain of $10.25 at $286.25. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.

Numismatics
Though it is a fixture on all American coins and currency now, IN GOD WE TRUST did not appear on American coinage until 1864 when it graced the Two-Cent Piece. This was due in large part to the strong religious beliefs of the time during the Civil War. Secretary of the Treasury Mint Salmon P. Chase took it upon himself to affix some type of motto with the word “GOD” onto all coins. He was successful in doing so in 1865 when Congress, and the Mint Director allowed the motto to be placed on all silver and gold coins. Between the years of 1864 and 1909 it appeared on some coins while it did not appear on others. A few coins that it did appear on were the Shield Nickel , the $20, $10 and $5 Liberty Gold Coins, the Morgan Silver Dollar, the Barber Half Dollar, and the Barber Quarter Dollar. It appeared on the new Lincoln Cent in 1909 and has remained there ever since. In 1916 it became a permanent fixture on the dime and the quarter. The Jefferson Nickel, first minted in 1938, also bore that inscription. In 1956 IN GOD WE TRUST was declared the national motto of the United States. The motto first appeared on paper currency in 1957 with the one dollar silver certificate. Though it has met with some controversy, most Americans approve of the motto on United States money.

APMEX has now obtained the 2009 Denver Mint Professional Years Lincoln Cent. They are available as a single coin, as a roll, or as a 50 roll box ($25 Face Value). Next week, on August 26th, the Mint will release the 4 newly-designed 2009 Lincoln Cents in their original copper composition, just as they were released in 1909. These coins will be packaged as a four coin proof set. Their original composition was 95% copper, 3% zinc, and 2% tin alloy. Thomas Jurkowsky, Director of the U.S. Mint’s Office of Public Affairs, has stated that the sets are unlimited. The Mint has not yet disclosed a price.

Weekly Market Recap 08/14/09

noreply@blogger.com (APMEX) — Fri, 14 Aug 2009 21:57:00 +0000

This week the Federal Open Market Committee meeting on interest rates commenced. According to the committee, conditions in the financial markets still remain constrained by ongoing job losses, sluggish income growth, lower housing wealth and tight credit. The central bank will keep interest rates at close to zero which should bolster bullions’ status as a hedge against inflation.

Due to reports this week, worries of long term inflation are entering the minds of investors as a clear direction and contradictory reporting are still looming. Long term inflation will benefit bullion investors and collectors alike as the dollar continues to dive against other currencies.

This week, APMEX introduced “The Great American Coin Giveaway” to its customers. Each day over the next 30 days we will select two winners to receive a FREE Gold or Silver coin of our choice. One winner will be selected from our current customers and one winner selected from new customers. There are absolutely no strings attached to win, just register and if your name is drawn, you can simply wait for your FREE Gold or Silver coin to come in the mail. To register for your free Gold or Silver coin click here!

Congratulations to the WINNERS from the first drawing from 08/13/09 go out to:

Randy M. from Oneida, TN
David C. from Mansfield, CT

Gold:
Spot Gold prices opened this week at $954.40. The high during the week was on Thursday, August 13th at $960.52, while the low for the week was on Wednesday, August 12th at $940.60. Gold ended the week down slightly at $947.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.

Silver:
Spot Silver prices opened this week at $14.56. Silver reached a high of $15.14 on Thursday, August 13th, while the low for silver was occurred on Wednesday, August 12th, at $14.12. Silver ended the week with a gain of $0.20 at $14.76. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1266.50, and ended the week down slightly at $1261.50. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles seem to have a solid hold on the investment market as the products of choice.

Palladium:
Spot Palladium prices opened this week at $279.05, and ended the week with a gain of $1.55 at $280.60. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.

Numismatics:
Though Type Coins are in demand and have been for some time now, Liberty Seated Dimes may be the forgotten series. Though it is a Liberty Seated coin, some collectors may only think of the Liberty Seated Half Dollar or Liberty Seated Quarter or even the Liberty Seated Half Dime before they think of the dime. However, the dime, perhaps due to its size, is the most plentiful and easiest on your wallet. This series is the longest running dime series in United States history and has quite a few varieties. The series began in 1837 and ran until 1891 when it was replaced by the Barber Dime. When it was first minted, only a depiction of Miss Liberty, who was seated, was on the obverse. The following year 13 stars were added to the obverse. And in 1840 drapery was added to fill out the design. Its final major design change happened in 1860 when the stars were replaced with the words “UNITED STATES OF AMERICA.” Also in 1860 the mintmark was changed from above the wreath to below the wreath in New Orleans, followed by San Francisco in 1861. In 1871 the Carson City mint began producing these dimes and like most Carson City mint products, the coins were, and are, the most sought after in the series. However, with the occasional exception, this is a very affordable series with many of the later examples selling for less than $100 in Almost Uncirculated condition.

Thursday, August 13th saw the 3rd Lincoln Cent of 2009 released. This new design depicts Lincoln in his “Professional Life” as a congressman for the state of Illinois, as he is standing in front of the Illinois State Capitol building . This was one of many stepping stones taken on his road to the Presidency. APMEX will have these posted on the site as soon as we obtain them. However, APMEX offers a great selection of the previous two cents which include the Birthplace Log Cabin and the Formative Years Rail Splitter. The 4th and final design of 2009 will be released on November 12th in Washington D.C. which depicts his Presidency.

Weekly Market Recap 08/07/09

noreply@blogger.com (APMEX) — Fri, 07 Aug 2009 21:38:00 +0000

Worries about economic stability were ever present this week as the market fluctuated on mixed reporting. Early in the week The Institute for Supply Management released its Manufacturing Index Report showing a 10th consecutive month of contraction. This report is seen by investors as an indication that business is still getting worse in the U.S. and that a turnaround is not in the near future.

The American Bankruptcy Institute reported mid-week that filings jumped 34.3% from a year ago, the highest increase since the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented in 2005. This report is further proof that many Americans are still struggling to make ends meet.

Late in the week the Labor Department reported the unemployment rate fell for the first time since April 2008. This data, however, is contradictory to early and mid-week reporting, reinforcing the fact that there is still no clear direction in the market.

This week, APMEX introduced an expanded selection of Pre-1933 Gold to its customers. These beautiful numismatic coins present a great opportunity for you to add to your collection. To see a full list of Pre-1933 Gold visit click here!

Gold:
Spot Gold prices opened this week at $957.50. The high during the week was on Thursday, August 6th at $971.90, while the low for the week was on Tuesday, August 4th at $952.10. Gold ended the week with a loss of $1.10 at $956.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.

Silver:
Spot Silver prices opened this week at $13.90. Silver reached a high of $15.05 on Thursday, August 6th, while the low for silver was at the beginning of the week Monday August 3rd, at $13.90. Silver ended the week with a gain of $0.78 at $14.68. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1215.90, and ended the week up $46.20 at $1262.10. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $265.00, and ended the week with a gain of $14.10 at $279.10. This week, the most popular of these products are 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.

Numismatics:
The resurgence in the spot metal prices for gold and silver added some fuel to the fire of numismatics this week. As dealers and collectors wound their way west to Los Angeles for the American Numismatic Association’s annual summer convention, there was great anticipation about the current upward direction of the numismatic marketplace. The pre-ANA auctions all showed considerable strength for many types of coins.

Classic Commemorative coins overcame their doldrums of earlier this year and were, as one report put it, “on fire” at the pre-ANA auctions. For example, a 1926 Sesquicentennial Half Dollar in MS66 grade is wholesale bid at $16,000.00; yet one MS-66 graded example brought $43,125.00 – 2.7 times the current bid price at one of the auctions! While not all commemorative coins brought such significant premiums, many other examples sold at prices much higher than current bids.

Morgan Silver Dollars always enjoy strong collector and investor support and this week was no exception to that rule. But what is unusual is what is in demand and what is out of favor. Some of the more common dated coins are improving in price and are eagerly being sought, while many other better date coins were weaker in price. While that seems fairly unusual, such is the nature of the ever-changing coin market. Always remember that all markets are cyclical and that the coin market is no exception!

Weekly Market Recap 07/31/09

noreply@blogger.com (APMEX) — Fri, 31 Jul 2009 21:38:00 +0000

This week, the Federal Reserve’s Beige Book Report said economic conditions are still weak. According to the report, the economy contracted for a record-breaking fourth quarter in a row. In the past year the economy has fallen 3.9%, the sharpest drop since the Great Depression of the 1930’s.

Tech stocks were weighed down this week by the market’s disappointment in the advertising and search engine deal between Yahoo and Microsoft. In its biggest single-day loss since May, Crude Oil fell 5.8%. Energy stocks followed this trend and went on to be the market’s weakest link this week. Talks of the recession ending are still present; however, weary economic data continues to support the contrary. The markets for Gold and Silver seemed to move sideways this week with little movement in either direction.

This weekend, APMEX is providing its customers with a fantastic opportunity to take advantage of extremely low premiums on a large selection of Heraeus Gold and Silver Bars. These bars present a great opportunity to add to your bullion position. To see a full list of Heraeus Gold and Silver specials visit APMEX.com.

Gold:
Spot Gold prices opened this week at $951.40. The high during the week was on Monday, July 27th at $960.00, while the low for the week was on Wednesday, July 29th at $925.20. Gold ended the week with a gain of $4.50 at $955.90. This week 1 oz. Random Year Gold American Eagles, 2009 1 oz. Canadian Maple Leafs and 1/10 oz. Random Year Gold American Eagles were in very high demand.

Silver:
Spot Silver prices opened this week at $13.89. Silver reached a high of $14.09 on both Monday the 27th and Tuesday the 28th, while the low for silver occurred on Wednesday, July 29th, at $13.16. Silver ended the week with a gain of $0.09 at $13.98. This week Brilliant Uncirculated Random Year 1 oz. Silver Eagles, 2009 1 oz. Silver Maple Leafs and APMEX 1 oz. Fine Silver Rounds sold in very strong quantities.

Platinum:
Spot Platinum prices opened this week at $1193.80, and ended the week up $23.10 at $1216.90. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 10 oz. Credit Suisse Platinum Bars and 2009 1 oz. Platinum Canadian Maple Leafs continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $260.95, and ended the week with a gain of $7.85 at $268.80. This week, the most popular of these products are 1 oz. Pamp Suisse Palladium Bars, 1 oz. Credit Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
2009 Gold Buffalos are on the horizon! According to Coin World, the numismatic hobby’s largest trade publication, the U.S. Mint is set to strike 2009 $50 Gold Buffalos beginning in October. Gold Buffalo coins are the first 24-karat gold coins (.999 Fine) issued by the United States Mint. Since their arrival in 2006, Gold Buffalos have commanded outrageous premiums. This is due in large part to their beautiful design, modeled after the 1913 Buffalo Nickel by James Earle Fraser. This beautiful coin has captured both the investors and collectors eye, making this the most sought after bullion coin the U.S. Mint is currently producing. There has been no word yet as to whether or not the Mint intends to produce any proof examples or any fractional denominations.

For more strictly numismatic news, the Mint has also resumed production of its 2009 Nickels and Dimes, which up until this point had only struck 86.6 million Jefferson nickels and 148 million Roosevelt Dimes. This would have been the lowest mintage for both denominations since the 1950’s. However, since they have decided to resume production, mintages may be much higher, though only a small portion have found their way into circulation thus far. Despite the fact that the Mint will be producing more, these coins may very well become a present day rarity!

Recently, Walking Liberty Half Dollars, especially the key date 1921-D, and the short set, which comprises the last seven years of the series 1941-1947, have really seen a resurgence in interest. High grade examples that have been certified by a third party grading service are commanding the highest premiums. However, this set is very attainable and affordable in average circulated condition with the most expensive coin costing less than $300.

Weekly Market Recap 07/24/09

noreply@blogger.com (APMEX) — Fri, 24 Jul 2009 21:12:00 +0000

While the Dow Jones Industrial Average showed a bit of strength this week, it was not all good news for the stock market. Microsoft announced a billion dollar revenue shortfall that hung a damper over the entire tech sector. Meanwhile online giant Amazon.com reported a 10% decline in 2nd quarter earnings as reported by Reuters. But not all of the markets reported gloomy news. Gold prices rebounded from its lows on news of a weakening US dollar and higher energy prices, as reported by ScotiaMocatta’s Global Research.

This week, APMEX dug even deeper into the vaults and presented customers with an opportunity to buy from a large selection of products for only $9.99 or less. The sale runs through the weekend, however due to high customer response these selected items are moving fast. To see a full list of remaining coins visit APMEX.com.

Gold:
Spot Gold prices opened this week at $938.50. The high during the week was on Thursday, July 23rd at $957.50, while the low for the week was on Monday, July 20th at $937.00. Gold ended the week with a gain of $13.90 at $952.40. This week 2009 1/10thoz. Gold Maple Leafs, 1oz. Random Year Gold American Eagles and 10 gram APMEX Gold Bars were in very high demand.

Silver:
Spot Silver prices opened this week at $13.40. Silver reached a high of $13.95 at the close of the market on Friday, July 24th, while the low for silver occurred on Wednesday, July 22nd, at $13.34. Silver ended the week with a gain of $0.55 at $13.95. This week Brilliant Uncirculated Random Year 1oz. Silver Eagles, 2009 1oz. Silver Maple Leafs and 1oz. Fine Silver Buffalo Rounds sold in very strong quantities this week.

Platinum:
Spot Platinum prices opened this week at $1176.80, and ended the week up $16.50 at $1193.30. Many investors continue to be keenly interested in platinum. 1oz. Pamp Suisse Platinum Bars, 1/4oz. Platinum American Eagles and 2009 1oz. Platinum Canadian Maple Leafs continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $250.95, and ended the week with a gain of $16.00 at $266.95. This week, the most popular of these products are 1oz. Pamp Suisse Palladium Bars, 1oz. Credit Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
Where have all the dimes gone? As time takes its toll on us, it also takes its toll on the hobby of coin collecting. Over the last 30 years, silver has experienced a somewhat uneven marketplace with high peaks and low valleys. Silver reached its peak during 1979 and 1980 due to an anomaly that will likely never be repeated. It’s most recent peak was in March of 2008, when it was over $20.00 an ounce. These peaks and valleys have significantly reduced the numbers of dimes considered to be thought of as common coins in collector grades. These coins are now becoming scarce due to their bullion content. Mercury Dimes, always a hit with collectors, are especially in short-supply as these lower grade examples are traded strictly as bullion now. However, even though this is now becoming a tougher series to collect in circulated grades, the key dates such as the 1916-D are still most commonly found on the bourse floor in Almost Good-3 to Very Good-10 grades.

Although the future price of silver is unknown, one thing that is known is that nearly all Type coin prices are strong. Problem free examples, of course, have enjoyed the most success though ones with minor defects that are reasonably priced are also being purchased. Two Cent Pieces, especially in circulated grades, have had a tremendous run with its key dates the 1864 Small Motto, and the 1872, when found, still commanding high premiums.

Classic Commemoratives are continuing to pick up steam too as nearly all are commanding strong prices. This set, even in high grade, is very affordable and attainable. Classic Commemorative Memorabilia, though always bringing strong prices, have only become scarcer as these articles have either deteriorated due to lack of proper preservation or they have been lost to time.

RETRACTION

noreply@blogger.com (APMEX) — Sat, 18 Jul 2009 13:38:00 +0000

On Friday, 7/17/09, we included news that had been published on a number of other sites (www.mineweb.com, www.gata.org, www.istockanalyst.com) that announced the US Mint’s continuation of the suspension of certain coins.

This information appears to be an erroneous re-posting of old news and was not verifiable on the US Mint’s official website (www.usmint.gov). APMEX aims to deliver current factual information. However, there are times when old news is posted under the guise of "new news".

We apologize for reporting this news to our customers and for any confusion this may have caused.

David McCarty
Director of Marketing

Weekly Market Recap 07/17/09

noreply@blogger.com (APMEX) — Fri, 17 Jul 2009 21:31:00 +0000

Bullion prices rallied this week as U.S. equities reached a one month high on rising company earnings reports. Prices hit their first weekly gain in nearly three weeks while riding the coattails of rising oil prices and a declining dollar. Talks of a second fiscal stimulus package continued this week keeping economy woes on the front burner for investors.

This week, APMEX presented customers with an opportunity to buy selected U.S. and foreign coins and currency for only 99¢. The sale was intended to run through the weekend, however due to high customer response these selected items are nearly sold out. To see a full list of remaining coins visit APMEX.com.

Here is a brief overview of the highs and lows for this week.

Gold:
Spot Gold prices opened this week at $912.30. The high during the week was on Wednesday, July 15th at $942.30, while the low for the week was on Monday July 13th at $907.40. Gold ended the week with a gain of $26.20 at $938.50. This week 1 oz. 2009 Gold American Eagles, 10gm APMEX Gold Bars and 1oz. APMEX Gold Bars were popular items with investors.

Silver:
Spot Silver prices opened this week at $12.66. Silver reached a high of $13.49 at the close of the market on Friday, July 17th, while the low for silver occurred on Monday July 13th, at $12.43. Silver ended the week with a gain of .78 cents at $13.44. This week 1oz. 2009 Silver American Eagles, 1oz. Walking Liberty Silver Rounds and 10 oz. Sunshine Mint Silver Bars remained extremely popular among buyers.

Platinum:
Spot Platinum prices opened this week at $1105.10, and ended the week up $72.30 at $1177.40. Many investors continue to be keenly interested in platinum. This week 2009 1oz. Platinum Canadian Maple Leafs, ½ oz. Platinum American Eagles and 1oz. Pamp Suisse Platinum Bars sold in solid numbers.

Palladium:
Spot Palladium prices opened this week at $232.15, and ended the week with a gain of $19.85 at $252.00. The most popular of these products this week are 1oz. Pamp Suisse Palladium Bars, 1oz. Credit Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
By now it must sound like a broken record, the coin market is demonstrating great strength. Last week’s Florida United Numismatists (FUN) show held in West Palm Beach, Florida was very successful and attendance was strong. Pre-1933 Gold type coins in lower mint state grades remain the topic of conversations both on the bourse floor as well as in local coin shops around the United States. Even the tiny $1 Gold coins have enjoyed the benefits of the coin market’s favorable position.

Problem free Half Cents and Large Cents in collector grades, that are reasonably priced, continue to remain the backbone of early type coins. Though the more common dates in the 1840’s and 1850’s have seen a rise in popularity, it is the early examples of these series’ that are the driving force. In addition to the success early copper has had, Bust and Seated Liberty type coinage have also seen a resurgence in popularity, especially the Seated Liberty Quarter series.

Morgan Dollars, much like early type, have remained strong in affordable grades. Common date Morgans in high grade continue their upward swing with no indication of slowing down. Even key date Morgans such as the 1889-CC (Carson City) and the 1894 dollar have benefited from the current demand!

Weekly Market Recap 07/10/09

noreply@blogger.com (APMEX) — Fri, 10 Jul 2009 21:04:00 +0000

Stock market trading was lighter than normal this week as many investors are still waiting for a signal of a firmer economy. Early in the week, oil prices hit a six week low, which sparked concerns that economic recovery still may be in the distant future. The University of Michigan released a report late in the week showing American consumer confidence has fallen to 64.6 in July from 70.5 in June. Talks of a second Federal Stimulus Package surfaced this week confirming doubts that the tide has not turned for the economy.

Due to overwhelming positive feedback, the Summer Inventory Blowout Sale has been extended through the weekend. The extension allows metal investors and numismatic collectors the opportunity to continue to save up to 75% off regular prices on selected items marked with the “Firecracker” icon. To take advantage of these great prices visit www.APMEX.com.

Here is a brief overview of the highs and lows for the week.

Gold:
Spot Gold prices opened this week at $934.30. The high during the week was the market open on Monday, July 6th at $934.30, while the low for the week was on Wednesday, July 8th at $904.80. Gold ended the week down a bit at $913.40. This week 1 oz. 2009 Gold American Eagles, 2009 Gold Maple Leafs and 1oz. Pamp Suisse Gold Bars were popular items with investors.

Silver:
Spot Silver prices opened this week at $13.42. Silver reached a high of $13.48 on Monday, July 6th, while the low for silver occurred on Wednesday, July 8th, at $12.74. Silver ended the week at $12.70. This week 1oz. 2009 Silver American Eagles, 1oz. Silver Buffalo Rounds and 5 oz. Silver APMEX Rounds were quite popular, as were many silver items included in the Summer Blowout sale.

Platinum:
Spot Platinum prices opened this week at $1186.20, and ended the week down a bit at $1108.20. Many investors continue to be keenly interested in platinum. This week 1oz. Pamp Suisse Platinum Bars, 1oz. 2009 Platinum Maple Leafs and 1 oz. Scotiabank Platinum Bars were in high demand at APMEX.com

Palladium:
Spot Palladium prices opened this week at $250.00, and ended the week down a bit at $238.45. The most popular of these products this week were; 1oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1oz. Palladium Canadian Maple Leafs.

Numismatics:
Typically during the Summer season, prices will remain level as many dealers and collectors take a well-deserved breather from their active pursuit of numismatics. That does not seem to be the case this year! Although precious metals prices are a little bit lower than in recent weeks, demand has not abated. Common date US Gold Coins are extremely active on both the wholesale and retail markets, while rare date gold coins have weakened slightly.
Key date coins are also continuing to remain popular and in demand. A well-known key date silver coin, the 1916-D Mercury Dime, is particularly popular and it is one that all Dime collectors need! Early date specimens of Walking Liberty Half Dollars are also a quick-selling commodity. Continuing the “key date” trend is the 1893-S Morgan Silver Dollar, a rare coin that continues to advance in price almost regardless of grade!
Early Type Coins have finally retrenched and prices are starting to soften, after many months of very strong price advances. However, we are unsure whether this softening is the start of a correction or a temporary aberration. This may prove to be an excellent opportunity to purchase coins.

Weekly Market Recap 07/03/09

noreply@blogger.com (APMEX) — Fri, 03 Jul 2009 20:50:00 +0000

Happy Independence Day Everyone! Precious metals traded within a tight range this week, as the Labor Department released data showing Unemployment Rates had risen to their highest levels since August 1993. This information further confirmed that American Consumer confidence is in a continued downward slide. Some experts believe recent optimism and confidence in the markets were premature. Due to the continued release of contradictory information and reports, precious metals remain a steadfast harbor for weary investors.

Late in the week APMEX announced its Summer Inventory Blowout Sale –referred to by happy customers as the “Firecracker Sale”. The sale offers metal investors and numismatic collectors the opportunity to save up to 75% off regular prices on selected items marked with the “Firecracker” icon. Between now and June 9th, visit www.APMEX.com to see the entire selection of sale items throughout the site.

Here is a brief overview of the highs and lows for this shortened holiday week.

Gold:

Spot Gold prices opened this week at $940.70. The high during the week was on Wednesday, July 1st at $947.10, while the low for the week was on Tuesday, June 30th at $922.70. Gold ended the week down a bit at $933.30. This week 1 oz. 2009 Gold American Eagles, 2009 Gold Maple Leafs and 1oz. Pamp Suisse Gold Bars were in high demand at APMEX.com

Silver:

Spot Silver prices opened this week at $14.10. Tight trading pushed spot silver to a high of $14.15 on Tuesday, June 30th, while the low for silver occurred on Thursday, July 2nd, at $13.29. Silver ended the week at $13.44. This week 1oz. 2009 Silver American Eagles, 1oz. Silver Buffalo Rounds and 1oz. APMEX rounds were in high demand.

Platinum:

Spot Platinum prices opened this week at $1208.10, and ended the week at $1189.70. Platinum had a small loss of $18.40 through the week. Investors were eager to purchase Platinum products this week. This week 1oz. Pamp Suisse Platinum Bars, 1oz. 2009 Platinum Maple Leafs and 1 oz. Scotiabank Platinum Bars were in high demand at APMEX.com

Palladium:

Spot Palladium prices opened this week at $247.20, and ended the week at $252.50 with a gain of $5.30. Palladium products continue to be in great demand as well. The most popular of these products this week are; 1oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1oz. Palladium Canadian Maple Leafs.

Numismatics:

Problem free coins that are affordably priced, as has been the case for years, are all the rage. This especially holds true for Pre-1933 Gold coins as well as early Type coins. Early copper, particularly in the higher grades has seen tremendous growth and popularity in the last few months. Nearly all third-party graded examples, even coins simply graded “Genuine,” are on everyone’s want lists.

Similarly, early Walking Liberty half dollars are enjoying the same type of hype and popularity as is Early American Copper. Mostly early high grade examples are eagerly sought after with certified examples carrying most of the weight. Key date coins such as the 1921, the 1921-D, and the 1938-D are selling particularly well.
Morgan Silver Dollars continue to steadily rise in price; even common date silver dollars have become more attractive to buyers who are just getting into the hobby. As is the case with most things this week, certified examples are fetching the highest premiums, for both common date and tougher date Morgan Dollars.