The following numismatic articles are not written for CoinNews, but we recommend collectors read them for their unusual or interesting content:
Design of Puerto Rico at issue
By David L. Ganz, Numismatic News
With a choice of two designs, there is an attempt in Puerto Rico to make a third choice for its territorial quarter. With literally days to go before its 2009 territorial quarter design has to be finalized to go before the Commission of Fine Arts and the Citizens Coin Advisory Committee, the Commonwealth of Puerto Rico is making a bold move…
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Early Proof prices soar
By Mark Ferguson, Coin Values
Many collectors are concentrating on obtaining high-grade modern Proof coins, mainly in the Proof 69 and 70 grades for registry sets or just to have near-perfect or perfect coins. Other collectors, however, have been seeking earlier Proof coins from the 19th and 20th centuries.
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New York precious metals declined Tuesday with platinum plunging 9.2 percent, gold dropping 0.8 percent, silver declining 5.6 percent, and October crude-oil free-falling by $4.56 to $91.15 per barrel.
December silver ended at $10.52 an ounce.
October platinum was hit hard with its close of $1,068.50 an ounce. Weakening car sales in Europe, China and the US was cited as a catalyst.
December gold fell $6.50 to close to $780.50 an ounce.
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US inflation fell for the first time in two years with a rate of 5.4 percent in August from a year ago. That compares to July’s 5.6 percent according to Bureau of Labor Statistics data released Tuesday. A decrease in inflation makes inflationary-hedge investments in commodities like gold and oil less attractive, but turmoil in the financial sector has its pull too. Gold and oil showed declines in morning trading.
Reports are abound that the latest figures could pave the way for the US Federal Reserve to cut interest rates in their meeting Tuesday, or at least adjust their language indicating a potential future cut and signaling declining inflationary threats. Precious metal investors are sure to await their afternoon statement.
The 1913-2008 Inflation Calculator and rate charts with their udpated figures show inflation’s drop using the government’s latest Consumer Price Index (CPI) data. By entering any two dates from 1913-2008 and then a dollar amount, the CoinNews Inflation Calculator measures the change in the buying power of the dollar over time. At the same time, it charts plot historical annual averages for rate of inflation, and rates of inflation, or inflation rates.
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