Despite a decrease in crude oil prices, New York precious metals surged higher Thursday as US economic news weakened the dollar. Gold recovered most of Wednesday’s losses by rising 1.1 percent rise.

And for the economic news… Real GDP fell 0.2% in the the fourth quarter of 2007, compared with the 0.6% increase previously reported, first-time jobless claims for the week ending July 26 rose 44,000 to 448,000, and real growth accelerated in the second quarter to a 1.9% annual rate, which was lower than forecasts.

Oil lost $3 to close to $124 a barrel.

Silver climbed 32 cents to close to $17.79 an ounce.

Platinum jumped $23.80 to end at $1,761.90 an ounce.

Gold gained $10.40 to finish the day at $922.70 an ounce. Its intraday high was $933.70 an ounce. For the month of July, it lost $11.

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(Baltimore, Maryland) — The brief comments below are in conjunction with the unveiling of a new U.S. gold coin, the 2009 Ultra High Relief Double Eagle, by United States Mint Director, Ed Moy, at the American Numismatic Association World’s Fair of Money® in the Baltimore Convention Center on July 30, 2008.

"This is one of the most creative products to come from the United States Mint.  I believe it will be one of the Mint’s most sought after coins," stated Gary Adkins of Edina, Minnesota, President of the Professional Numismatists Guild (www.PNGdealers.com), a nonprofit organization composed of many of the nation’s top rare coin experts. 

"Virtually every collector would like to own one of the Ultra High Relief gold pieces issued in 1907 because it’s one of the world’s most beautiful coins; however, because of scarcity and strong demand, prices can range from $10,000 and up.  The 2009-dated Ultra High Relief Double Eagle gold coins will give collectors a chance to obtain this artistic rendition at a price closer to its actual gold bullion value," Adkins said.

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A $5,000 finder’s fee reward is being offered by Kagin’s, Inc. of Tiburon, California for confirmation of the second known gold coin counter-stamped with the genuine hallmark of Baltimore silversmith, Standish Barry. 

The only coin now known with the hallmark is the unique 1735 imitation Lima 8 escudos that was found in the collection of legendary Baltimore banker, Louis E. Eliasberg Sr.

Announcement of the finder’s reward was made by Donald H. Kagin, Ph.D., President of Kagin’s, when he displayed the counter-stamped doubloon at the American Numismatic Association World’s Fair of Money convention.

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