NGC is introducing two new certification services for coins that derive their value primarily from their metal content. They are NGC Certified Gold and NGC Authenticated Bullion. These services vary from NGC’s conventional numismatic services by using very accessible language to describe coins and their metal content specifically. As with other NGC services, once certified, coins are encapsulated in NGC’s archival-quality holder. Both new services are available to NGC Authorized Dealers under the bulk submission program.

A major goal of these services is to increase the availability of protection against the proliferation of counterfeit precious metal coinage. All coins certified under these programs are backed by a guarantee of authenticity from NGC. Additionally, all coins certified by NGC receive a unique serial number. This is important because it allows owners of certified coins to keep precise records of their holdings, even when coins are stored offsite or by a third-party depository.

Rick Montgomery, NGC President, comments: “We are very excited to offer these new products. Just as certification has done for graded classic coinage, NGC Certified Gold and NGC Authenticated Bullion will make it easier for individuals to buy and sell precious metal coins. We also believe that these products can make these types of coins appealing and accessible to the broadest possible audience.”

The first of these programs is NGC Certified Gold. In addition to a description of the enclosed coin, included on the certification label is its pure metal weight. These coins are also provided a written grade description that is fully transcribed and not abbreviated. For example, a coin may be described as, “Extremely Fine,” and corresponding explanations of grading terminology can be found on NGC’s website. NGC believes that this plain descriptive language can be more easily understood by novice and first time coin buyers. (more…)

No longer will retirement investors need to pay 20-25% extra. First State Depository, which provides precious metal storage, is now working with Numismatic Guaranty Corporation (NGC), the industry leader in coin certification, to offer a new service which provides proof of the metal content and purity of the coin for much less than the cost of “Proof” Gold Eagles.

Humphrey said, “People who buy gold with their IRAs are often not given the option of non-proof coins.” Often, the proof coin seems more valuable because of the description of a specialized minting process and the special mounting and special plastic capsule that the coin is shipped in. Humphrey explained, “Proof coins are not required for IRAs and often cost significantly more than the equivalent non-proof coin containing the exact same amount of metal. IRA owners investing in Gold coins with IRA funds should make sure they understand what they are buying.”

According to Humphrey, clients wanting the guarantee of gold content of the coins may want to look at a new service offered by First State Depository, a company which provides precious metal storage. First State is working with Numismatic Guaranty Corporation (NGC), the industry leader in coin certification, to offer a service which provides proof of the metal content and purity of the coin for much less than the cost of Proof Gold Eagles. (more…)

Woodland Hills, CA  — False and misleading statements about gold as part of a diversified portfolio are frequently repeated in the news media, according to Barry Stuppler, president of the non-profit, 32,000-member American Numismatic Association.

“Some of the hackneyed arguments against gold come from financial analysts who work for brokerage houses that have a vested interest in steering money toward equities they sell and away from physical gold ownership. Some news organizations are giving out the same incorrect or misleading comments,” said Stuppler, who is also president of Barry Stuppler & Company, Inc. of Woodland Hills, California, a rare coin and precious metals dealership.

Here are frequently encountered arguments against investing in gold and Stuppler’s responses based on his over 30 years of professional experience in the gold and silver markets.

Argument: Since 1975, when Americans again were legally allowed to own such things as gold bullion coins, the Dow Jones Industrial Average has generated a greater return on investment than gold.

Response: “This is an apples-to-oranges comparison. The composition of a one-ounce gold coin doesn’t change; it remains one ounce of gold. But the composition of the Dow has changed 24 times since 1975, with 24 out of 30 companies having declined in profitability or gone out of business, being replaced by other publicly traded firms. The price of gold has increased over 500 percent since 1975. Any comparison to the frequently re-juggled components of the Dow is invalid. (more…)

WHY ARE THESE PREMIUMS FALLING?

We had suggested this could happen several weeks ago (see our older Market Reports). Our sources of this information are the chief buyers and owners of the biggest legit telemarketers that exist. They have been the ones selling thousands of these coins and bullion to a scared public.

They felt when Saints had to be bid to $2,200.00 in MS65 (non CAC) and $2,350.00 CAC that was too strong. Gold at the time actually was starting to drift down off $1,000.00. The reason why the bids had to jump was because the dealers were still trying to fill back orders tha happened almost lightening fast.

Now, we have gold drifting down towards the $800.00 area and most of those orders are now filled. Sure, its still extremely hard to find any quantities of Saints or Libs at bid (if you are dealer), but you do not have to go out and raise the bids by 10% every other day to find some either. So the premiums are now falling hard and fast.

We were SELLING off the generic MS65 Saints for $1,950.00 and $2,150.00 if CAC’d to the big buyers (one of whom now fully filled all his orders) last week. It is our feeling that if gold holds steady or declines at all, you will see the premiums for these coins drift down even further. It is expected they could hit $1,500.00 for MS65 Saints if gold hits the mid to low $800’s. (more…)

After I left what was, for me, a very productive Baltimore coin show, I was sitting in a restaurant at BWI airport, eating a crab cake. As I was finishing up, a dealer who I don’t know that well but who I respect for his knowledge and his connections came up and asked if he could join me before our respective flights left. As you can no doubt guess, our conversation almost immediately turned to the market.

As this dealer was quick to point out, as far as gold coins go, we are currently in one of the more confusing market segments that either of us could remember. He made a comment that I thought was really profound. He said something along the lines of “the market is so strange right now, that if I had a fresh deal of Saints or $20 Libs it would probably get other dealers more excited than if I had a group of fresh Proof gold coins.”

At first, I thought this comment was sort of odd. But the more I thought about, the more it made sense. The market is so oriented right now towards generics and “stuff” that many dealers have all but overlooked rare coins. And I think this presents a few really interesting opportunities for buyers who have some extra cash.

Generic gold is on fire for a number of reasons. The “guns and gold” crowd is buying gold because they have a fundamental distrust of the dollar and don’t like the direction that the U.S. economy is headed. Investors are buying American Eagles and other issues to put into their IRA’s in the hope that this year’s contribution outperforms last year’s stock purchase. And large-scale telemarketers are selling the heck out of double eagles to new buyers who have left more traditional investments and like the idea of owning some physical gold. (more…)

“We are happy to welcome Goldline as one of our first sponsors of The Fred Thompson Show,” said Thompson. “Jeri [Thompson] and I chose Goldline as our source for gold and precious metals. Like many investors, we believe that gold is an important part of a diversified portfolio, especially in these troubled economic times. That’s why we tell our friends and listeners to call Goldline to learn more about acquiring gold.”

Fred Thompson is one of the most respected and visible figures in politics today. Thompson served eight years as a Senator from Tennessee, and in 2008 sought the Republican nomination for President of the United States. Serving as Chairman of the Senate Governmental Affairs Committee, and as a member of the Finance Committee and Select Committee on Intelligence, Senator Thompson focused on lowering taxes, strengthening national security, and cutting wasteful government spending.

“Goldline is extremely honored to be selected by Senator Thompson as his choice for gold coins and other precious metals,” said Mark Albarian, President & CEO of Goldline. “We share the Senator’s view that gold is an important part of any diversified portfolio. Goldline has been helping investors acquire gold and other precious metals since 1960.”

The Fred Thompson Show recently debuted on the Westwood One radio network. “This is the biggest talk radio launch since Bill O’Reilly,” said Dennis Green, Westwood One EVP Affiliate Sales. “We have not even hit the air and radio stations from coast to coast are ready for Fred Thompson to speak to their audiences about the issues that matter.”

First State and its owners have a long history of providing Secure Depository services for investors looking to take advantage of the long-term stability of precious metals investments. Entrust New Direction IRA, part of The Entrust Group, one of the nation’s largest self-directed IRA providers, administers a variety of IRA, 401(k) and HSA accounts, which can purchase precious metal investments.

Both First State and New Direction stress quick processing and reporting of both purchases and delivery. Speed in processing transactions and fast payment for completed orders is one reason metals dealers have enjoyed working with both New Direction and First State. First State’s standard procedures include sending confirmations of all metals received by 3:00 PM on the same day.

New Direction promises that orders will be funded within 48 hours of receipt of the delivery confirmation for outstanding orders. New Direction’s policies also limit the ability of an IRA to make a purchase until it has the funds available to spend, thus ensuring that the IRA will always be able to pay for its purchase.

With First State and New Direction, customer service is key. Both organizations are aware of the vital importance of accurate and timely transactions and reporting. “Speed and accuracy are the name of the game”, said Bill Humphrey, one of the principals of New Direction. “We keep our clients happy when they purchase precious metals so they’ll stay with us for all their future investments.” (more…)

In a project shrouded in secrecy, work is due to start on recovering the cargo, which was being transported to the United States to help pay for the Allied effort in the Second World War.

The scale of the treasure trove is likely to unleash a series of competing claims from interested parties. Salvage laws are notoriously complex and experts say there could be many years of legal wrangling ahead.

In order to protect its find until the cargo is brought to the surface, the company that located the wreck has not released the name of the vessel or its exact location, but has given the ship the code name “Blue Baron”.

It says the merchant ship, which had a predominantly British crew, had left a European port, laden with goods for the US Treasury under the Lend-Lease scheme, whereby the American government gave material support to the Allied war effort in exchange for payments.

The Blue Baron first sailed to a port in South America, where it unloaded some general cargo, before continuing north in a convoy, heading for New York.

However, the company claim it was intercepted by German U-boat U87 and sent to the bottom by two torpedoes in June 1942, with the loss of three crew members. Their nationalities are not known.

Sub Sea Research, a US-based marine research and recovery firm, claims it has now located the wreck under 800ft of water about 40 miles off Guyana. (more…)

The announcement follows an earlier Perth Mint communication advising clients that as a result of unprecedented worldwide demand, it had been forced to close its new order book for gold and silver bullion coins, except its 1oz Kangaroo gold bullion coin. Orders for popular numismatic products and Depository/Certificate products were, and continue to be, unaffected.

Due to its reputation and extensive connections in the bullion market, the Western Australian State-owned Mint continues to have no problem sourcing wholesale gold and silver. The decision to temporarily suspend taking new orders for gold and silver bullion coins was purely a result of the 100 per cent utilisation of its production capacity.

As of 12 January, the Mint will be resuming orders for a streamlined range of 1oz and 1kg Australian Koala, Australian Kookaburra and Australian Lunar silver bullion coins, as well as 1oz Lunar gold bullion coins.

By limiting the range to these coins and the 1oz Kangaroo gold bullion coin, the Mint expects to be able to increase production volumes from existing production capacity. (more…)

WEST POINT, N.Y. -The United States Mint at West Point invited officials from numismatic organizations and reporters to witness the historic first production strike of the highly anticipated 2009 Ultra High Relief Double Eagle Gold Coin today. The new 24-karat (.9999 pure) gold coin is a modern version of what many call the most beautiful gold piece ever created-Augustus Saint-Gaudens’ 1907 Double Eagle. The United States Mint will begin taking orders for the new collectible gold coin early next year.

United States Mint Director Ed Moy struck the first coin, which will be transferred to the Smithsonian Institution’s National Museum of American History. He struck a second coin as an addition to the United States Mint’s heritage assets.

“This gold ultra high relief coin, evoking Augustus Saint-Gaudens’ 1907 Double Eagle with Liberty striding forward, is one of the world’s most beautiful coins,” Director Moy told the crowd. “The United States Mint is proud to render the vision of President Theodore Roosevelt and Augustus Saint-Gaudens in a way that honors our past and raises the bar for the future. One hundred years from now, I believe the 2009 Ultra High Relief Double Eagle Gold Coin will be remembered as the birth of the greatest American century in coin-making history.”

In the early 1900s, President Roosevelt called for a “renaissance” in American coinage. He thought the coins of that era were unattractive and wanted them to embody the national identity of the United States and its preeminence on the world stage. Roosevelt chose Augustus Saint-Gaudens to redesign America’s coins. Saint-Gaudens was a renowned sculptor and artist who shared the President’s vision for expressing America’s national identity visually through art. However, despite Saint-Gaudens’ masterful design for a $20 gold piece with ultra high relief, it could not be mass produced using the technology of that era. (more…)