IRVINE, Calif. — Spectrum Group International, Inc., a consolidated global collectibles network, is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers, announced that the American Numismatic Association (ANA) has renewed Spectrum’s Collateral Finance Corporation (CFC) contract as the exclusive official numismatic lender of the ANA until 2011. 

The ANA is a Congressionally-chartered, 32,000-member nonprofit association, and is the world’s largest organization dedicated to educating and encouraging people to study and collect money and related items.  

CFC, a wholly-owned subsidiary of A-Mark Precious Metals, Inc., which conducts Spectrum Group International’s trading operations, provides loans to dealers, collectors and traders in the rare coin and bullion market. Read the rest of this entry »

A stronger U.S. dollar, retreating oil prices, and weakened consumer confidence and home price data weighed heavily on gold. Silver and platinum declined as well while U.S. stocks dipped lower.

In New York trading futures for bullion:

• Silver for July delivery dropped 37.3 cents, or 2.7 percent, to 13.574 an ounce.

• Gold for August delivery fell $13.30, or 1.4 percent, to $927.40 an ounce.

• July platinum declined $7.50, or 0.6 percent, to $1,176.70 an ounce.

Read the rest of this entry »

1795 half eagle, 1856-O double eagle and 1880 Coiled Hair stella among the offerings from Heritage, July 31-Aug. 2, in Beverly Hills

DALLAS, TX – Legends of TV and film will surrender the Hollywood spotlight for a night when a different kind of American star takes to the podium at the Hyatt Regency Century Plaza in Beverly Hills: A historic 1854-S quarter eagle, graded VF35 NGC, will lead the Platinum Night offerings of Heritage Auction Galleries’ August 2009 Los Angeles U.S. Coin Auction, July 31-Aug. 2.

"This coin is truly a legendary rarity," said Greg Rohan, President of Heritage, "and one of just a dozen known survivors from the first quarter eagle issue produced by the San Francisco Mint. In Heritage’s in-house condition census of the surviving 12, this example is rated fifth overall."

Just 246 examples of the 1854-S quarter eagle were struck since the San Francisco Mint focused on making larger denominations such as the eagle and double eagle, and the relative "small change" denomination of the gold dollar, leaving the quarter eagle and half eagle relatively neglected. Read the rest of this entry »

June 30: Four numismatic news or coin blog articles are referenced on CoinNews every Tuesday and Thursday. These articles are not authored by us, but we recommend coin collectors read them for their unusual or interesting content. Here are today’s coin articles:

10 Budget Picks
Mike Thorne | Coins Magazine

When faced with the assignment to pick 10 (or more) great coins that retail for $100 or less, I have at least two big problems: First, how do I limit my list to just 10 coins? Second, and this is often the bigger problem, how do I keep myself from trying to buy all the coins I’ve talked about?…

Go to story »   

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(Irvine, California) — More than 500 U.S. and world bank notes will be offered in the Official Auction of the American Numismatic Association World’s Fair of Money® conducted by Bowers and Merena Auctions at the Los Angeles Convention Center and online, August 2 – 8, 2009. 

One of the many highlights is an 1870 $100 Gold National Bank Note, San Francisco Charter #1741, The First National Gold Bank (Fr. 1162), graded PMG Fine 12 Net (restorations).

"This classic rarity is one of only eight notes of this type in private hands, and one of three of this Friedberg number.  Those others are in strong hands and not likely to become available in the foreseeable future. 

In fact, only three examples have been offered for public sale in the last decade and the latest example, nearly identical to this one, sold for $258,700 in 2007," said Steve Deeds, President of Bowers and Merena (www.BowersandMerena.com).

"With collectors holding tightly to the others, we’re not sure when there will be another opportunity to acquire such a rare and elusive note."

Read the rest of this entry »

Gold pitched away from last week gains and a four day win streak to fall slightly on Monday. A fluctuating U.S. dollar spurred the yellow metal to recover a chunk of earlier day losses. Silver and platinum declined more firmly while crude-oil rallied with U.S. stocks.

In New York trading futures for bullion:

• Silver for July delivery fell 18.1 cents, or 1.3 percent, to 13.947 an ounce.

• Gold for August delivery lost 30 cents, or 0.03 percent, to $940.70 an ounce.

• July platinum declined $18.80, or 1.6 percent, to $1,184.20 an ounce.

Read the rest of this entry »

OTTAWA, ON — The Royal Canadian Mint today released the findings of a third party review related to the unreconciled difference between the Corporation’s rolling inventory and the physical count of precious metals for the 2008 fiscal year.

The scope of the review, conducted by Deloitte and Touche, was to specifically determine if the unreconciled difference in gold was the result of an accounting or transaction recording error.

The report concluded that "the unaccounted for difference in gold does not appear to relate to an accounting error in the reconciliation process, an accounting error in the physical stock count schedules, or an accounting error in the recordkeeping of transactions during the year."

The Deloitte and Touche report identified three other areas for consideration: Read the rest of this entry »

Tuesday is the deadline for a US Mint offering dubbed the "Last Opportunity" — a sale that includes nearly twenty products from the Mint’s about to be discontinued 2008-dated coin series.

The last chance sale began more than a month ago with an assortment of State Quarter Greeting Products, First Day Coin Covers, Presidential $1 Coin Covers and Denver or Philadelphia Coin and Die Sets.

The products are being sold at their original price points, but without household limits. A 7-day return policy is in effect for each although the Mint said it will not accept returns unless a product was delivered damaged.

The last chance sale has not caused a collector frenzy by any means. However, several thousand more coin covers have been purchased in recent weeks according to US Mint figures. Read the rest of this entry »

Former U.S. Mint Director and Congressman Jay Johnson has become a spokesperson for Goldline International, Inc.

"As a former Director of the United States Mint, I believe strongly in the importance of owning gold as part of a diversified portfolio" said Johnson. 

"That’s why I’m proud to endorse Goldline which has been helping people acquire gold and other precious metals for nearly 50 years."  

During his term as the 36th Director of the U.S. Mint, Johnson managed the multi-billion dollar manufacturing business for the U.S. government.  Under his supervision, the U.S. Mint produced a record 26 billion coins in the fiscal year 2000-2001 along with a record "profit" of $2.6 billion dollars.  Johnson is also a former U.S Congressman from Wisconsin and a long-time award-winning news broadcaster and recipient of an American Numismatic Association Presidential Award. Read the rest of this entry »

Coin Chat Radio’s June 25 episode includes discussions on new and old Lincoln cents, freshly minted coins from Pobjoy and US mints, and stories of kids and collecting.

Bob Van Ryzin’s "What’s In The News" segment focuses on the recent US Mint decision to end bullion eagle rationing. The Mint now appears to have sufficient silver and gold blank inventories to meet the demand of its’ authorized purchasers.

Numismatic News Editor Dave Harper talks with coin dealer John Wells from Milford, Pennsylvania about new Lincoln cents, old cents, their sales and overall penny values. Read the rest of this entry »