Coin News

Gold, Silver, Metal Prices Commentary – 3/19/2010

Jon Nadler, Kitco Metals Inc. — Fri, 19 Mar 2010 16:55:04 +0000

Der Wiener Walzer Moves Counter-Clockwise

Good Day,

Gold prices slipped a bit in overnight trading amid anemic Indian physical offtake and a further gain in the US dollar. The latter managed a climb back to very near the 80.50 mark on the trade-weighted index and pushed oil, base metals, and assorted other commodities a tad lower. The euro once again slid back towards the 1.35 value zone as no news of any resolution to the Greek problem was on tap for yet another day.

Greece is still pedaling hard to obtain a clear promise of aid from the EU, but Germany continues to be holding out on the matter, and ‘confusion’ is being expressed by other members of the eurozone. It was suggested yesterday that Greece should perhaps try to get a lifeline from the IMF. Bond investors are still demanding that Greece pay three percentage points more than Germany on its 10-year debt, and the country’s Prime Minister warned that Greece can’t "afford to hold out much longer at current market rates."

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America the Beautiful Quarter Design Unveiling

CoinNews.net — Fri, 19 Mar 2010 16:33:48 +0000

The United States Mint will unveil the five 2010 America the Beautiful Quarters on March 24, 2010 at the Newseum Museum in Washington, DC.

The final designs will provide a first look at the new coin series, named the America the Beautiful Quarters Program, which will feature 56 new emblematic National Park or National Site themes on the reverse side of quarter-dollars through to 2021.

The America’s Beautiful National Parks Quarter Dollar Coin Act of 2008 (Public Law 110-456) authorized the 11-year program with selected sites honored in each state, the District of Columbia and the five U.S. territories. The first five coins in the program commemorate:

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Sculptor Heidi Wastweet Appointed to CCAC

CoinNews.net — Fri, 19 Mar 2010 14:06:32 +0000

Answering a call that went out in October of last year, Heidi Wastweet of Seattle Washington has been appointed to the Citizen’s Coinage Advisory Committee (CCAC) by Treasury Secretary Timothy Geithner.

Wastweet, a well-known sculptor and medallist, replaces former CCAC member Sherl Joseph Winter whose term expired last September. Both have an expertise in sculpture or medallic arts and were appointed to lend their artistic knowledge to the committee.

Wastweet was drawn to art at a very early age. "I had mysteriously declared my decision to be an artist at the age of just 6 years old and began drawing constantly, but when I started sculpting at age 18 something really clicked," she describes.

The qualifications for Wastweet speak for themselves. Since 1987, she has been directly involved with the creation of over 1,000 coins, medals, tokens and rare coin replicas.

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Gold Rises for Fourth Day, Silver Declines Slightly

CoinNews.net — Thu, 18 Mar 2010 22:54:01 +0000

New York gold futures finished higher for a fourth straight day on Thursday, although gains were limited by a rising dollar. Silver and platinum declined slightly as did oil which fell for the first time in three days.

U.S. stocks were mixed. The Dow advanced for its eighth straight gain and toward an 18-month high. The Nasdaq edged slightly above its starting point. The S&P 500 narrowly declined.

New York precious metal figures follow:

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Abigail Fillmore First Spouse Gold Coins Available

CoinNews.net — Thu, 18 Mar 2010 16:44:01 +0000

The Abigail Fillmore First Spouse Gold Coins are the first of the spouse series to appear in 2010. They are, however, fourteenth in the series as a whole.

Abigail Fillmore First Spouse Gold Proof and Uncirculated Coin – Click to Enlarge

The United States Mint placed the 24 karat, 1/2 ounce gold coins on sale today at noon ET. The collector proof version is priced at $729.00 while the uncirculated option is listed for $716.00. These prices can change weekly depending on the weekly average of the London gold fix.

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US Mint Sales: 2009 Gold Proof Buffalo Coins Near 50,000

CoinNews.net — Thu, 18 Mar 2010 06:51:35 +0000

Action picked up for numismatic coins, according to the latest US Mint sales report.

The prior report showed that only three products garnered week-over-week improvements. More than a dozen passed that barrier in the latest round of figures.

On the notable front, 2009 Gold Proof Buffalo coins increased by 598 compared to the previous 384 and are nearing 50,000 in sales. In fact, as of Sunday their total was at 48,994 which very likely means the 50K ceiling was actually topped by Tuesday or Wednesday. The proof Buffalo was released late last year on October 29, 2009.

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Matthew Westfall Joins Spectrum Numismatics International

Spectrum Numismatics International — Thu, 18 Mar 2010 05:11:05 +0000

IRVINE, Calif. — Spectrum Numismatics International, Inc., one of the world’s largest rare coin, currency and wine dealers, announced today that Matthew Westfall has joined the company in the next step of their continuous expansion.

"Matt Westfall is one of the most respected numismatists in the industry. His incredible knowledge of better date U.S. gold coins, Territorial gold, early U.S. type and dollars, as well as Early Americana is a natural fit with Spectrum’s already extensive numismatic staff," said Andrew Glassman, President of Spectrum.

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Gold Advances for Third Day, Wholesale Inflation Falls

CoinNews.net — Wed, 17 Mar 2010 22:03:00 +0000

New York gold futures closed slightly higher on Wednesday, marking a third straight day of gains. Silver and platinum followed.

The Federal Reserve’s assurance on Tuesday to keep interest rates unchanged was still a cited factor in metals movement, as was a bigger-than-expected decline in wholesale inflation. The Labor Department on Wednesday said US producer prices fell 0.6 percent in February — the largest drop since July.

Both items helped to ignite stocks, with the Dow, Nasdaq and S&P all closing at fresh 2010 highs.

New York precious metal figures follow:

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US Government Prints More Money in February 2010

CoinNews.net — Wed, 17 Mar 2010 16:09:32 +0000

The US government printed more money in February 2010 than in January, according to the agency responsible for manufacturing US currency. However, the total value of the notes was slightly less than the prior month.

The Bureau of Engraving and Printing (BEP) last week released the latest production figures for February which show it made $1s, $5s, $20s and $100s during the month.

Combined, the BEP produced 504,476,000 banknotes with a total value of $14,098,800,000. In contrast, January figures came in at 487 million notes for just over $14.1 billion.

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Gold, Silver, Metal Prices Commentary – 3/17/2010

Jon Nadler, Kitco Metals Inc. — Wed, 17 Mar 2010 15:54:20 +0000

Chinafornia

Good Day,

In a familiar replay of the past fourteen months’ worth of meetings, the Fed concluded on Tuesday that doing nothing as regards the fed funds rate at least, was still the most reasonable course of action. The US central bank thereby acknowledged that the U.S. economic turnaround is still not sufficiently vigorous to spark inflationary processes.

Since the Fed saw little justification for hiking the cost of borrowing at this time, it simply reiterated its well-worn "extended period" mantra and thus gave audiences reason to watch the same movie once again. You know; the one where carry traders borrow those ultra-cheap dollars and pump up the prices of everything you saw rising yesterday afternoon, as if the economic recovery was going on right here, right now, at full bore.

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Gold Jumps 1.5%, Silver Advances 1.4%

CoinNews.net — Tue, 16 Mar 2010 22:11:06 +0000

New York gold futures rallied on Tuesday, reaching toward $1,130 an ounce as the U.S. dollar weakened and oil gained the most since Feb. 16. Silver and platinum ended higher as well, rising 1.4 percent and 0.9 percent, respectively.

The federal reserve’s decision to leave interest rates unchanged and maintain them at near zero for an "extended period" was cited in helping gold rise after hours, and sparked gains in U.S. stocks.

New York precious metal figures follow:

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Boy Scouts of America Centennial Silver Dollar Available March 23

United States Mint — Tue, 16 Mar 2010 16:42:56 +0000

WASHINGTON – The United States Mint announced today that it will begin accepting orders for the 2010 Boy Scouts of America Centennial Silver Dollar on March 23, at noon Eastern Time (ET).

2010 Boy Scouts of America Centennial Silver Dollars – Proof and Uncirculated Versions
(Click Image to Enlarge)

The Boy Scouts of America Centennial Commemorative Coin Act (Public Law 110-363) authorizes the United States Mint to mint and issue silver one-dollar coins in commemoration of the centennial of the Boy Scouts of America.

The mintage limit for the 2010 Boy Scouts of America Centennial Silver Dollar is set at 350,000 coins across both product options, the proof and uncirculated versions of the coin, struck in 90 percent silver. Household orders will be limited to 100 units per option.

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CAC Keeping Strict Coin Grading Standards

Certified Acceptance Corporation — Tue, 16 Mar 2010 16:17:21 +0000

Change may be in the air at one or more coin grading services, but dealers, collectors and investors will find business as usual at Certified Acceptance Corp. (CAC).

That’s the company’s message to the hobby in the wake of reports that at least one of the two largest grading services is considering the establishment of "premium-quality" grade designations.

CAC examines and evaluates coins that have been certified by either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation of America (NGC).

It then affixes a distinctive green sticker to the holder of each coin which, in its judgment, fully merits the grade that was assigned. Each sticker incorporates a tamper-evident hologram.

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Gold, Silver, Metal Prices Commentary – 3/16/2010

Jon Nadler, Kitco Metals Inc. — Tue, 16 Mar 2010 15:38:16 +0000

Honey, We Shrunk…The Hedge Books!

Good Day,

Bullion prices climbed towards $1115 overnight as overseas market participants helped gold recover from its two-week lows on the back of some bargain hunting in the low $1100’s and the continuing favourable nod it is receiving from various quarters worried about the impact of credit woes on certain currencies.

Positioning ahead of the US Fed meeting also played a role in gold’s comeback from its worst slide in seven weeks, as players are still leaning towards hearing from a ’stand pat’ Fed this week.

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Sponsors Contribute $47,000 for ANA National Money Show in Fort Worth

CoinNews.net — Tue, 16 Mar 2010 06:23:13 +0000

Thirteen sponsors have contributed $47,000 in support of the American Numismatic Association’s 2010 National Money Show™, March 25-27 at the Fort Worth Convention Center.

"The support for this year’s convention has been very strong," said David Truesdell, ANA sales and sponsorship manager. "We’re pleased that so many businesses and dealers see value in the marketing opportunities the ANA offers at the National Money Show and hope this signals a strengthening market for numismatic collectibles. Our sponsors both benefit from their marketing investment and contribute significantly to helping the ANA provide great educational programs and numismatic exhibits at no cost to our members."

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New Coin Honors Australia’s Lost Soldiers of Fromelles

Royal Australian Mint — Tue, 16 Mar 2010 04:57:56 +0000

The Assistant Treasurer, Senator Nick Sherry, and the Minister for Veterans’ Affairs, Alan Griffin, have today announced the Royal Australian Mint will next month issue a collectible 20 cent coin commemorating Australia’s Lost Soldiers of Fromelles.

"This coin is a continuation of the Mint’s Australia Remembers series, exploring our nation’s war experiences and military history behind and beyond the battlefields," the Assistant Treasurer said. "The coin design is based on the Cobbers statue which stands in the Australian Memorial Park at Fromelles.

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CCAC Applicant Opportunity

United States Mint — Mon, 15 Mar 2010 19:42:02 +0000

WASHINGTON – The United States Mint is seeking applicants for appointment to the Citizens Coinage Advisory Committee (CCAC). The term of one CCAC member will expire in March 2010.

The new member would represent the interests of the general public. The application deadline is March 31, 2010. The United States Mint will review all applications and will forward recommendations to the Secretary of the Treasury for appointment consideration.

The CCAC was created to advise the Secretary of the Treasury on the selection of themes and design proposals for circulating coinage, commemorative coins, bullion coinage, Congressional Gold Medals and other medals.

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Bowers and Merena Realize $8.5+ Million in Baltimore Coin and Currency Sales

Bowers and Merena — Mon, 15 Mar 2010 16:29:57 +0000

U.S. Coin and Currency Sales Exceed $7 Million, Including Record-setting Sale of 1901-S Barber Quarter

IRVINE, Calif. — Bowers and Merena Auctions, America’s leading rare coin and currency auction house, continues its long-standing and successful partnership with the Whitman Coin & Collectibles Baltimore Expo.

This finest PCGS-certified 1901-S Barber Quarter in MS-68 went for a record-setting $327,750. (Click Image to Enlarge)

As Official Auctioneer of the March 2010 expo, Bowers and Merena realized more than $8.5 million in U.S. and foreign, coin and currency sales.

Prices realized for U.S. coins exceeded $5.5 million while U.S. currency accounted for a further $1.3 million of the total, for a combined U.S. prices realized of more than $7 million.

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Gold, Silver, Metal Prices Commentary – 3/15/2010

Jon Nadler, Kitco Metals Inc. — Mon, 15 Mar 2010 15:06:07 +0000

E.T.F. = Expect Tonnage to Flow. This Is A Two-Way River

Good Day,

Sovereign debt credit rating apprehensions once again arose in the markets as the mid-March sessions got underway worldwide. Such jitters lent fresh support to the precious metals complex overnight, however gains in gold were facing a stronger dollar, and the other side of the credit fears spectrum; that of China tightenting in the near future. Thus, advances during the nighttime hours were limited to the $1109 value zone for gold, and the yellow metal still had its work cut out trying to repair the worst weekly loss in values it sustained in seven last week.

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US Mint Gold Eagle Bullion Coins on Track for Third Best March

CoinNews.net — Sun, 14 Mar 2010 15:24:16 +0000

American Gold Eagle bullion coins are not on the same fiery pace seen in 2009 or during the Y2K “scare” in 1999, but the latest United States Mint sales figures show they are on track to record their third best ever March.

With the first two weeks of this month now history, US Mint sales of the gold bullion coins have reached 39,500. Buyers will need to scoop up another 48,501 during the next 2 1/2 weeks to pass March 1998 and earn the third best March ranking.

Any slack in sales however, and the month will likely fall to fourth place — only 16,501 more are needed to attain that spot.

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Ponterio & Associates Realizes $1.5 Million in Baltimore

Ponterio & Associates, Inc. — Sat, 13 Mar 2010 22:44:18 +0000

Russia 1882 3 Rubles Realizes an Astonishing $41,300

IRVINE, Calif. — Ponterio & Associates, America’s premier auction house for foreign coins and paper money, realized more than $1.5 million as part of the Official Auction of the March 2010 Whitman Coin & Collectibles Baltimore Expo.

The three-session sale netted nearly $500,000 in foreign paper money sales with ancient and foreign gold, silver and minor coins accounting for more than $1 million in additional prices realized.

"Capitalizing on our firm’s long-standing relationship with the Whitman Baltimore Expo," stated Rick Ponterio, executive vice president of Bowers and Merena, "we were able to conduct a highly successful auction in conjunction with the March expo. Two coins in particular stand out as commanding strong prices from the winning bidders.

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Bullion & Business Weekend Report – March 13, 2010

CoinNews.net — Sat, 13 Mar 2010 18:52:29 +0000

Precious metals were mixed for the second week of March after rallying broadly during the first. Gold declined the most, suffering a near $30 weekly collapse in London while briefly dropping below $1100 an ounce in New York — that, following a $1135 close last Friday.

Platinum was a standout, pulled higher in part by world reports of stronger auto sales figures. The metal is used to make catalytic converters for vehicles.

New York crude oil remained above $81 a barrel but did decline a modest 26 cents this week. In stocks, major indexes in the U.S. and Europe finished higher for the second straight week.

In weekly New York metals prices, April gold declined $33.50, or 3.0 percent, to end at $1,101.70 an ounce. Silver for May delivery finished at $17.048 an ounce, falling 33.4 cents, or 1.9 percent. April platinum advanced $29.30, or 1.9 percent, to close at $1,608.40 an ounce.

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Austrian Mint Strikes Renewable Energy Bimetallic Silver and Niobium Coin

Austrian Mint — Fri, 12 Mar 2010 18:21:29 +0000

Global warming, climate conferences, rising oil prices are constantly in the news. The earth’s resources of coal and oil are large but finite, and neither is a "clean" fuel.

Austrian Renewable Energy Bimetallic Coin
(Click coins image to enlarge)

The dangers of atomic reactors and the thousand years’ threat of radioactive rubbish fill many people with dread. But our industry, our living standards, our life style demand vast quantities of energy — power to run our factories, drive our transport, run our house-holds. Is the answer to be found in Nature, in "Renewable Energy."

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US Mint WASP Bronze Medals Available March 26

Darrin Lee Unser — Fri, 12 Mar 2010 17:27:50 +0000

In recognition of their heroic service over sixty-plus years ago, the Congressional Gold Medal was given to Women Airforce Service Pilots (WASP) of World War II this past Wednesday, March 10, 2010, at a ceremony held in Emancipation Hall at the Capitol Visitor Center in Washington, D.C.

Women Airforce Service Pilots (WASP) Congressional Gold Medal
(Click Image to Enlarge)

During a time of national crisis, thousands of women answered their nation’s call and volunteered for duty as a pilot for the United States Army Air Force. However, unlike their male counterparts, these women were never considered members of the military and always held civilian status.

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Gold, Silver, Metal Prices Commentary – 3/12/2010

Jon Nadler, Kitco Metals Inc. — Fri, 12 Mar 2010 15:47:12 +0000

The Blame Locker

Good Day,

Spot gold bullion prices rose overnight, having once again tested the (and held at) the just-under $1100 level yesterday — a fresh, three-week low. Dollar weakness ahead of the release of US economic data this morning kept bullion specs interested, however an early push towards the $1120 resistance area was truncated and the metal retreated towards $1110, and then even lower, turning negative within the first hour of trading, as the US dollar pared losses incurred immediately following the release of US retail sales figures for February.

Spot dealings started the week’s final session with a $6.90 gain in gold, at an $1116.50 bid quote per ounce, as against a fairly hefty 0.49 slip in the US dollar on the trade-weighted index (to 79.79 at last check) and tracking a half-dollar gain in crude oil (now at $82.66 pbbl.).

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