A stronger U.S. dollar and plunging oil prices pressured gold Monday to the lowest level in nearly two weeks. Silver dropped as well while platinum plummeted almost 4 percent. U.S. stocks ended mixed.
In New York trading futures for bullion:
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Silver for September delivery fell 17 cents, or 1.3 percent, to 13.238 an ounce.
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Gold for August delivery declined $6.70, or 0.7 percent, to $924.30 an ounce — the lowest level for a most active contract since Tuesday, June 23.
- October platinum plunged $46.30, or 3.9 percent, to $1,147.00 an ounce.
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Available now from the Perth Mint are two coins that are ready to slug it out against each other, like the figures they represent. The Transformers Silver Proof Collector Coins, one featuring the heroic Autobots leader Optimus Prime and the other depicting the evil Deceptacon leader Megatron, were minted with the approval of Hasbro and Dreamworks.
Sure to capture the interest of coin collectors, movie fans and more importantly the eye’s of the young who may step toward a new hobby in numismatics, each coin is struck in an ounce of silver and in collector proof condition.
The Transformers were based on action figures that could convert from everyday mechanical objects into robots. Hasbro initiated the line in 1984, and a cartoon series featuring the robots came soon after. The line has grown over the years to encompass new characters and several series of cartoons. Read the rest of this entry »
Knocking on the legislative door for the eighth consecutive year is a new bill seeking to treat coins or bars composed of silver, gold, platinum and palladium in the "same manner as equities and mutual funds for purposes of the maximum capital gains rate for individuals."
Gains from the sale of collectibles held for more than one year are taxed at a rate of 28 percent. (Collectibles include coins, stamps, coins, antiques, art, and gems.) The level is significantly higher than the maximum 15 percent capital gains rate for other long-term investments, like stock and bond holdings.
The bill, named the Fair Treatment for Precious Metals Investors Act, S. 1367, was introduced by Sen. Michael Crapo [R-ID], who also Read the rest of this entry »
