Precious metals were again mixed for the week. Gold edged up for the month in New York by an impressive 14 percent, its biggest percent rise since September. However, London gold — used as a benchmark for immediate delivery — lost 0.3 percent, although London silver and platinum gained 0.8 percent and 5.0 percent respectively.
According to Bloomberg, U.S. stocks enjoyed the biggest weekly rally in more than 30 years. The results managed to offset a portion of the losses in November.
The Dow fell 5.3 percent in November, but surged 9.2 percent since last Friday’s close. The S&P shot up 12 percent on the week, but dropped 7.4 percent for the month. And the Nasdaq surged 11 percent from last Friday’s close, yet fell 10.8 percent on the month.
New York December crude-oil settled to $54.43 a barrel, losing one cent Friday. It surged 9 percent for the week. AAA said the average price for unleaded gasoline fell to $1.83 a gallon on Saturday. The average price a month ago was $2.55.
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U.S. Mint releases 2009 Native American $1 Coin design on Native American Heritage Day
The United States Mint on Friday helped to celebrate Native American Heritage Day by unveiling the design image for the new 2009 Sacagawea $1 coin, officially entitled the "Native American $1 Coin." The dollar will begin circulating in January along with the first 2009 Presidential $1 Coin.
The new reverse designed by U.S. Mint Sculptor-Engraver Norman E. Nemeth depicts a Native American woman planting seeds in a field of corn, beans and squash. The scene represents the Three Sisters method of planting.
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2008-W American Eagle Platinum uncirculated coins were again the big U.S. Mint movers.
Since last week’s figures, one-ounce sales surged 46.5 percent to 980 coins. They are now the last standing coin in the series after sales of the one-half ounce size spiked to 18.5 percent and sold out on Monday.
Double-digit percent rises were also seen across the one-half and one-quarter ounce 2008-W American Buffalo Gold proof coins.
Interestingly, several coins show declines. The Mint readjusted prices lower two weeks ago, likely resulting in at least some returns from customers who previously paid higher prices and decided on a refund. Mint accounting adjustments could be another factor.
Here are the latest Mint sales figures for the major American Eagle and American Buffalo collector products: Read the rest of this entry »
Precious metals moved lower Wednesday as the U.S. dollar showed strength, and despite rising oil. New York silver, gold and platinum futures fell 0.5 percent, 1.2 percent and 0.2 percent, respectively.
January crude-oil recovered from Tuesday’s losses, gaining $3.67, or 7.2 percent, to close to $54.44 a barrel. The average price for unleaded gasoline declined yet another 2 cents to $1.868 a gallon, according to AAA.
December silver declined 5 cents to close to 10.22 an ounce.
January platinum fell $1.90 to settle at $869.70 an ounce.
Gold for December lost $10 to close to $808.50 an ounce.
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Martin Van Buren’s Liberty First Spouse gold coin and a bronze medal replica are now available from the United States Mint. The 1/2-ounce gold proof and uncirculated versions are priced at $549.95 and $524.95, respectively. Both have a face value of $10, are composed of 24-karat gold, and have an overall mintage limit of 40,000.
A bronze medal bearing the likeness of Van Buren’s Liberty coin is also available for $3.50.
Dubbed "The Red Fox of Kinderhook" for his red hair, political acumen and birthplace in New York, Martin Van Buren was the eighth President of the United States. America was prosperous when Van Buren took office, but less than three months later the panic of 1837 occurred and was quickly followed by a five-year depression. Van Buren was voted out of office, making him the third president to serve only one term.
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Gold moved slightly lower Tuesday as oil plunged. The yellow metal fell for the first time in five sessions following Monday’s 9.2 percent surge. New York gold futures dropped 0.1 percent while silver declined 0.8 percent. Platinum managed to climb 0.6 percent.
January crude-oil gave up most of its earlier gains, falling $3.73, or 6.8 percent, to close to $50.77 a barrel. AAA said the average price for unleaded gasoline declined another 2 cents to $1.885 a gallon.
December silver declined 8.5 cents to close to 10.27 an ounce.
January platinum gained $5.20 to settle at $871.60 an ounce.
Gold for December lost $1 to close to $818.50 an ounce.
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With only a dozen exceptions, all the paper items in a Florida collector’s home safe were destroyed or damaged by intense heat during a house fire. The only papers that survived unscathed were 12 bank notes inside PCGS Currency holders, including two 1907 $10 Gold Certificates.
"There were eleven large size and one small size PCGS Currency-certified notes recovered from the fire earlier this year. The holders were sooty and some had blisters and discoloration on their surface, but the notes inside all survived without damage," said Laura A. Kessler, Vice President of PCGS Currency, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
All other paper items in the five-foot tall gun safe at the anonymous collector’s central Florida home were destroyed or damaged from the extreme heat, including family documents, photographs and bank notes not housed in PCGS Currency holders. Hundreds of encapsulated coins survived the fire, although their holders partially melted and were deformed.
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Paper money collectors can enjoy peace of mind with guaranteed receipt of all 12 “We the People - Series 2004A $10 Collection” notes by joining the Bureau of Engraving and Printing’s (BEP) newly launched subscription program for $359.40.
In addition to the guarantee, collectors will save $60.60 off the cost of purchasing each of the twelve Federal Reserve banknotes priced separately at $35.
Key features of the notes include:
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High demand has depleted all but the American Eagle Gold and Silver one-ounce coins from its 2008-dated bullion coin inventory, the United States Mint told authorized dealers in a memo Monday. Further, the Mint said it will delay the launch of other bullion coins until later in 2009, citing difficulties in acquiring blanks.
"The quantities of blanks that we have been able to acquire from our suppliers continue to be very limited, while demand for bullion coins remains high. As a result, it is necessary for the United States Mint to delay the launch of other bullion coins until later in 2009. We will continue to monitor the situation and keep you informed as additional information becomes available."
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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. Here are today’s articles:
By Matthew Healey, The New York Times
With the push of a button and some 60 tons of pressure, a blank gold disc was converted into an ultra-high-relief coin at the branch of the United States Mint here Monday, and a century-old vision for America’s coinage was finally fully realized.
Read ‘Century Later, Gold Coin Reflects Sculptor’s Vision ‘ »
By Mark Ferguson, Coin Values
From the classic 1794 Flowing Hair silver dollar through the Peace dollar series of 1921 to 1935, collectors are busy assembling collections of these large coins in various forms.
Read ‘Silver dollars in demand’ »
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