The Perth Mint marks the discovery of HMAS Sydney II after a mystifying 67-year wait with a magnificent commemorative coin.

Disappearing in November 1941 following a deadly engagement with the German raider Kormoran, the famous Royal Australian Navy cruiser was lost with all hands in the Indian Ocean. Her fate proved baffling until the Finding Sydney Foundation announced on 16 March 2008 that it had located the wreck approximately 207km off the Western Australian coast.

Perth Mint Chief Executive Officer Ed Harbuz said the enormous historical and cultural significance of HMAS Sydney II meant the discovery warranted a special numismatic tribute. "It is a project that The Perth Mint has been exceptionally proud to undertake," he said.

Issued as legal tender under the Australian Currency Act 1965, the superb tribute coin is struck from 1oz of 99.9% pure silver in proof quality.

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New York gold futures fell 2 percent on Wednesday as oil dropped and the U.S. dollar was propped up. A slumping economy was a cited culprit with fears of eroding demand for commodities. Silver and platinum gained 3.2 percent and 2.6 percent, respectively.

December crude-oil fell $5.23, or 7.4 percent, to close to $65.30 a barrel, retreating from Tuesday’s 10.4 percent gain.

December silver rose 32.5 cents to end at $10.455 an ounce.

January platinum gained $22.30 to settle at $880 an ounce.

Gold for December lost $14.90 to close to $742.40 an ounce.

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The United States Mint is selling collector 2008 American Eagle platinum uncirculated coins with the "W" mintmark at significant premiums over their bullion content. But factors such as mintage totals are worthy of scrutiny before completely dismissing the coins as overpriced.

The US Mint offers one-ounce 2008-W American Eagle platinum uncirculated coins for $1,214.95, which is $372 higher than Tuesday’s New York closing spot platinum price of $843 an ounce. The difference is an unpalatable deterrent for making a purchase, which is further complicated given the still volatile commodity market.

In the last 30 days alone, platinum has been as high as $1,036 an ounce and as low as $756, with analysts all over the map on where it would or will go. Collectors who purchased a one-ounce uncirculated eagle toward the crest of the 2008 record platinum price of $2,250 and the peak US Mint price of $2,349.95 can best describe the hurt an unstable market can deal.

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