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Articles on September 10th, 2008

Gold Decline Continues, New 11-Month Low

As the U.S. dollar strengthened Wednesday, New York precious metals futures continued their several day free-fall. Silver, gold and platinum dropped hard, losing 7 percent, 3.7 percent and 5.6 percent, respectively. Silver moved below $11 an ounce, and platinum below $1200 an ounce. Gold hit a new 11-month low.

Bullion update ...October oil fell 68 cents to $102.58 per barrel, despite OPEC stating they would cut output against expectations. Concerns over slowing global demand was cited as a major factor.

December silver tumbled 83 cents to end at $10.89 an ounce.

October platinum dropped another $70.10 to close at $1,192 an ounce.

December gold fell $29.50 to close to $762.50 an ounce — its lowest level since October of 2007.

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Rare 1873-CC Seated Liberty Dollar Coin Saves Home

1873-CC Seated Liberty DollarA 1873-CC Seated Liberty silver dollar may have saved a couple in Parma, Ohio from losing their home. According to WKYC-TV, the couple brought the extremely rare coin to Jim Matiach for an appraisal.

Matiach, President of Coin and Jewelry Buyers of America, had good news.

 

"We sat down and we were able to negotiate a price and he walked away with enough money to pay off some of his bills and hopefully be able to keep his house," says Matiach.

 

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Commemorative Five-Star Generals Coins Introduced

Coin Legislation on Capital BuildingU.S. Senator Pat Roberts introduced new coin legislation Tuesday, September 9, seeking to mint coins recognizing 5 historic United States Army Five-Star Generals.

The commemorative coins would honor George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry “Hap” Arnold, and Omar Bradley — all alumni of the United States Army Command and General Staff College (CGSC) in Fort Leavenworth, Kansas.

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