As stocks tumbled for the seventh straight day on Thursday, New York precious metals futures were a mixed bag. Silver and platinum climbed 0.93 percent and 3.12 percent, respectively, while gold fell 2.2 percent. Oil joined gold and stocks, falling 2.7 percent, and to its lowest level in more than a year.
November crude-oil fell $2.36 to settle at $86.59 per barrel. That, despite news from OPEC that it’ll hold an “extraordinary” meeting on Nov. 18 in Vienna to “discuss the global financial crisis, the world economic situation and the impacts on the oil market.”
Investor concern over a slowing global economy with resulting diminished demand for oil was stronger Thursday than the potential for OPEC to cut production at a later date in an attempt to raise crude prices.
December silver climbed 11 cents to close at $11.88 an ounce.
January platinum surged $31.60 to end at $1043.70 an ounce.
Gold for December lost $19.90 to close at $886.50 an ounce.
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Four numismatic articles are referenced on CoinNews every Tuesday and Thursday. These articles are not authored 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:
Coin dealers win slander suit
By Alan Riquelmy, Ledger-Enquirer.com
Andrew O’Connell is accused of stealing coins from Joe and Tammy Barnes and is scheduled for trial in November. The Barneses, however, owe O’Connell and his father close to $200,000 for slandering them by saying they stole their rare coins, a civil jury found last week. All this begs the question — what’s going on?
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How Can I Get the New Pennies Early?
By Susan Headley, About.com: Coins
Reader Stephanie G. writes to ask, “I would like to know how a collector can get the upcoming new pennies before anyone else.” Well, that sounds good to me. Don’t we all want to be the first to have something really cool? But the U.S. Mint is extremely vigilant about making sure that the coins it sells are distributed fairly and evenly to everyone at a specific on-sale starting time. Is there any way to get around this and get the new pennies early?
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U.S. Sen. Roger Wicker has more reason to celebrate than most for the new 2009 Presidential Dollar designs the United States Mint released on Wednesday. He introduced the amendment calling for the motto "In God We Trust" to be relocated from the edge of the $1 coin to its face. (View up close 2009 Presidential $1 Coin design images.)
"The words of these two phrases symbolize who we are as Americans and should not be relegated to the rim of this new, high-profile coin. They should continue to be proudly and prominently displayed," said Mr. Wicker in 2007 when he was a member of the U.S. House of Representatives."
In late 2007, Congress passed Mr. Wicker’s amendment within the Consolidated Appropriations Act, which included a provision directing the Secretary of the Treasury to move the inscription “In God We Trust” from the edge of the Presidential $1 Coin to the obverse (heads side) or reverse of the coin.
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The British Royal Mint has announced the sale of individual proof £1 gold, silver and Piedfort silver coins featuring Welsh graphic designer Matthew Dent’s rendition of the heraldic shield of the Royal Arms — only the third coin reverse version since 1983.
The coins have an extremely low mintage with the 22 carat gold piece limited to just 1,000 and each .925 sterling silver coin set to only 5,000.
Collectors may purchase the gold, silver and Piedfort silver proof coins for £425, £49.95 and £29.95, respectively. (See International Currency Converter.)
The Piedfort £1 is unique in that it’s twice the weight and double the thickness of its circulating counterpart. While it has the same 22.5 mm diameter as the non Piedfort silver proof, its weight is doubled at 19 grams.
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