The Perth Mint today launched the 2010 Australian Kangaroo Gold Coin Series, continuing its tradition of producing gold bullion coins with an image of Australia’s famous marsupial. This basic kangaroo concept started in 1990, with design variations changing yearly on most of the coins.

Considered legal tender under the Australian Currency Act of 1965, these coins are all 99.99% pure gold, guaranteed by the Australian government for weight and purity.

The Kangaroo series is available in five different sizes: a $15 face value 1/10 oz coin, a $25 1/4 oz coin, a $50 1/2 oz, a $100 1 oz and a $3000 face value 1 kilogram coin. The four smallest sizes feature a new design of two kangaroos ‘boxing’ in the outback with the inscription ‘Australian Kangaroo’ across the top and ‘2010,’ the size and ‘9999 Gold’ across the bottom. Read the rest of this entry »

Armen R. Vartian, the attorney for Steven L. Contursi and Donald H. Kagin, has filed a Motion to Dismiss a lawsuit filed against them by William Swoger who seeks damages in the amount of $465,000 over a Brasher Doubloon.

Swoger’s lawsuit claims he is owed money for information he provided Contursi and Kagin that would increase the value of the legendary American gold coin owned by the pair.

Struck in 1787 by Ephraim Brasher, a New York City silversmith and goldsmith, the Brasher Doubloons are "among the rarest and most desirable of all United States coins," according to CoinFacts.com. Seven are known to exist. One is most unique, featuring the "EB" countermark punched over the shield on the eagle’s breast instead of atop the eagle’s wings as in the other six coins.

It is this exceptionally rare coin and its pedigree that is a focal point for the lawsuit. The coin had a value of some $15 at the time of issue. Contursi and Kagin purchased it for $2.99 million during the Heritage Auction Galleries Gold Rush Collection auction on Jan. 12, 2005. In today’s market, its value is likely much, much more. Read the rest of this entry »

The final $5 Lincoln Freedom Collection installment featuring crisp notes representative of Federal Reserve Districts of Richmond, Atlanta, Chicago and Minneapolis will launch Tuesday, Sept. 1, at 9:00 AM ET, the Bureau of Engraving and Printing (BEP) has announced.

The price for each is banknote is $29.95. The entire 12-note Series 2006 $5 collection is also available through the BEP’s Lincoln Freedom Subscription Program for $299.40. Read the rest of this entry »

Bears Loose in Shanghai. Film at Eleven.

Good Afternoon,

China’s falling equity index once again set the pace for overnight market developments around the rest of the world. Apprehensions about contracting credit and the realization that bullish speculative sentiment has been way out in front of economic realities dented the Shanghai Composite by nearly 7% last night.

The overnight fall was the SCI’s largest decline in 14 months, and it once has once again tilted that market into bear territory. As the Chinese and US stock markets still offer a case of conjoined twins, the Dow did not do all that well either in early going, on this last day of August. To make matters worse, it appears that the corpulent lady has not even begun to sing as yet: Read the rest of this entry »

Bob Van Ryzin’s "What’s In The News" begins this week’s episode of Coin Chat Radio with release of the 2009 Lincoln One Cent Proof Set from the US Mint.

For $7.95, collectors can purchase proofs of the four new cent designs honoring the bicentennial birth of Abraham Lincoln. Of interest to most, the cents are struck from the same bronze alloy (95% copper and 5% tin and zinc) used on the first Lincoln penny minted back in 1909.

Also mentioned by Ryzin is the announcement by Krause Publications that it will assume full in-house control of the three numismatic events it produces in Chicago, namely the Chicago Paper Money Expo, the Chicago Internation Coin Fair and the Mid-America Coin Expo.

Numismatic News Editor Dave Harper takes a few moments to interview dealer Paul Song from Bonhams and Butterfields, which is starting a new coin division. Harper digs into the details of how the startup is going and how it will be different from other coin auctions, to which Song replies: Read the rest of this entry »

Precious metals gleamed brighter this week, with silver sparkling the most while gold and platinum edged out modest gains. New York crude futures rose in volatile trading Friday, but ended down on the week. In other markets, U.S. stocks closed mixed on the last day of trading but eked out small gains during this final full week of August. European stocks rose for a sixth week in seven.

In weekly London bullion figures, gold rose 0.3 percent, silver jumped 3.8 percent and platinum gained 0.4 percent. Precious metals figures on Friday follow:

London silver closed to $14.54 an ounce, rising 53 cents from last Friday’s close. New York silver futures for September delivery ended at $14.784.

London Gold was fixed at $955.50 an ounce, a $3.00 gain on the week. New York fold for December delivery finished at $958.80.

London platinum climbed to $1,244.00 an ounce, a $5.00 increase for the week. New York platinum for October delivery closed at $1,245.90. Read the rest of this entry »

2009 UHR $20 Gold Coins will be much easier for coin dealers to purchase going forward. The US Mint is increasing the order limit from 10 per household to 25, according to the following message posted earlier this week on its Web site.

Effective August 31, 2009 at 12:00 noon (ET): The United States Mint will adjust the household order limit on the 2009 Ultra High Relief Double Eagle Gold Coin from a limit of ten (10) coins per household to twenty-five (25) coins per household. The household order limit will be re-evaluated on a regular basis and the United States Mint will either extend, adjust or remove the limit as needed.

This is the second consecutive month the US Mint has increased the amount of coins the public can buy. In late July, the household limit was raised from one to ten. Prior to the change, coin sales had averaged to less than 1,000 new orders a week. The biggest excitement turned to watching realized prices of graded examples on the secondary market. (See current eBay auctions.)

Sales were obviously slowed by the household limit. By Aug. 16, UHR sales topped 80K, compared to the 70,385 sold as of July 19 and prior to the first limit increase. The following table highlights how demand picked up: Read the rest of this entry »

W(h)ither Hindustan?

Good Afternoon,

At first glance, Friday appeared to be once again shaping up as an oil-driven kind of day in the precious metals pits. Gains of from half to three-quarters of a dollar in black gold were initially seen sustaining incremental speculative buying of gold as well as silver. The greenback offered a bit of encouragement to metals players as well, as it briefly breached the 78-mark on the index ahead of the NY opening.

Gold started the final session of the week on a positive note, showing a $5.30 gain and a quote of $953.50 on the spot bid ticker. Silver added 24 cents to open at $14.53 per ounce. There was no change reported in platinum (at $1241) while palladium rose $2 to start off at $287 an ounce.

Spreading South African labour action against platinum miners continues to be on traders’ minds, as are worrisome statements from South African power supplier Eskom. The utility firm finds itself having to double electricity rates in order to stay alive. Not what users would like to hear, exactly. Read the rest of this entry »

Marking the 300th Anniversary of a conflict that would shape the political structure of Europe for centuries, the Perth Mint has released the Battle of Poltava 1 oz Silver Bullion Coin.

This battle was just one of many in the Great Northern War, and while not particularly academic in its strategies, the outcome would strip the power of one nation and initiated the growth of power of another.

Before 1709, Sweden was a dominant military force intent on conquest over Europe. Russia was just a pawn, easily overcome by the Swedish in earlier years and left to heal its wounds.

But Tsar Peter I of Russia was not content with just recovering, he wanted to retaliate. To this end, he spent the next several years turning his armies into a modern force, schooled in new tactics and armed with the latest weapons. Read the rest of this entry »

Gold prices picked up slightly Thursday in hum drum day of narrow trading. The yellow metal eventually became more appealing to investors after oil prices climbed and the U.S. dollar weakened. Platinum advanced as well, but silver fell a few pennies. In other markets, U.S. stocks rose with the Dow extending its winning streak to an impressive eight days.

New York precious metals trading figures follow:

• Silver for September delivery fell 3.5 cents, or 0.2 percent, to $14.220.

• Gold for December delivery rose $1.50, or 0.2 percent, to $947.30 an ounce.

• October platinum advanced $2.10, or 0.2 percent, to $1,240.50 an ounce.

Read the rest of this entry »