The United States Mint has temporarily suspended sales of American Buffalo one-ounce bullion coins to their network of Authorized Purchasers, it was announced Thursday.
"Demand has exceeded supply for American Buffalo 24-karat gold one-ounce bullion coins, and our inventories have been depleted. We are, therefore, temporarily suspending sales of these coins," the Mint said in a memorandum.
New York precious metals retreated while the U.S. dollar climbed Thursday as news of a "fundamental" agreement came from Washington regarding the U.S. $700 billion financial rescue plan. Nymex Silver, gold and platinum futures lost, 1.2 percent, 1.5 percent, and 2.8 percent, respectively.
November crude-oil recovered from Wednesday’s 88 cent loss to gain $2.29, closing to $108.02 per barrel.
December silver lost 16 cents to close to $13.28 an ounce.
October platinum fell $40.8 to end at $1,184.20 an ounce.
December gold dropped $13 to close to $882 an ounce.
Four numismatic articles are referenced on CoinNews every Tuesday and Thursday, which are not written by us, but we recommend collectors read them for their unusual or interesting content. Have you written or know of an article that should be highlighted on CoinNews? Please let us know.
Here are today’s articles:
Seven Coins with Potential
By Mark Benvenuto, Coins Magazine
Gamblers always want to find that safe bet - a sure way to make some money. Some of them convince themselves a particular bet is a good one, even when a bit of reasoned logic would tell them they are throwing money down a toilet. But whatever they consider lucky - including that “lucky 7″ in card and dice games - usually overrides any calm, reasonable judgment.
Read ‘Seven Coins with Potential’ »
Call for Coin Collecting Blogs
By Susan Headley, About.com: Coins
I am putting out a call for the best blogs in coin collecting. Although I might or might not think any given blog is worthy of being on my blogroll, I want to try to compile them all in one place, where people can find them easily.
It’s no secret. The currency of choice is not change, and it’s no longer paper money. For many Americans, both forms have become annoyances — especially in high value purchases. Coin usage is declining, and trending toward extinction. These days, it’s about plastic with the convenience of credit and debit cards.
While the U.S. Mint is spending money on mandated marketing and a doomed promotion of Presidential $1 coins, or announcing the exciting four new 2009 Lincoln penny design images, the reality is Americans dislike to receive or use these coins more than any other pocket change. And how a coin looks or feels is mostly inconsequential to anyone but collectors. But it goes beyond the penny and dollar $1 coin, as the outlook for every circulating coin further declines.
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