August 2009

Key Developments Good Afternoon, Price weakness continued to be manifest in the precious and base metals complexes overnight, as China’s stock market index fell another 4.3% and came to the point of requiring the ‘bear market’ label to be applied to it by market technicians. Albeit analysts see the Chinese market implosion this month as [...]

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2009 Lincoln Professional Life in Illinois Cent and Penny Rolls 2009 Lincoln Professional Life Cents have jumped out of the gate with exceptional inaugural sales — higher than the first Log Cabin design, but lower than the second released Rail Splitter pennies.

The Mint launched the new pennies on Thursday, Aug. 13, to another excited, anticipating public crowd (see Illinois Lincoln Cent launch photos). On the same day, two-roll sets — one roll of 50 coins for the United States Mint at Philadelphia and one roll of 50 coins for the United States Mint at Denver — went on sale for $8.95.

As of Sunday, the Mint said 152,146 of the Professional Life two-roll sets have sold. With 50 pennies per roll, that’s more than 15.2 million pennies purchased by collectors.

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2009 Ultra High Relief Double Eagle Gold Coin2009 Ultra High Relief (UHR) Double Eagle Gold coins have topped a new milestone and demand is stronger than ever in the month of August.

New United States Mint sales figures reveal several thousand of the 24-karat gold coins have been sold during the last few days alone. And since the US Mint began offering them on January 22, 2009, a total of 80,700 have been sold.

It is quite an accomplishment and a testament to the popularity of the UHR, given the hefty price tag of nearly $1,300 a piece to acquire one.

The special coin, a digitally reproduced version of Saint-Gaudens’ original ultra high relief 1907 Double Eagle gold piece, has been greatly helped by the elimination of the one-coin order limit. On July 27, the UHR limit was raised to ten per household. Since then, weekly sales have more than tripled, as the following table highlights:

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Following two days of declines, gold climbed on Tuesday after the U.S. dollar showed weakness and crude-oil prices surged. Platinum also advanced but silver declined. U.S. stocks erased some earlier losses to finish higher on the day. New York precious metals trading figures follow: Silver for September delivery fell 1.5 cents, or 0.1 percent, to [...]

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August 18: 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: Four more doubled [2009] cents identified Ken Potter | Numismatic News Back in [...]

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Jackson's Liberty First Spouse Gold ProofThe US Mint has added Jackson’s Liberty First Spouse Gold Proof Coin to its sold out list, in a move that will shock collectors of the $10, one-half ounce 24-karat gold coin series.

With the exception of sell outs due to mintage limits met, past First Spouse Coins have been available from the US Mint for a year or until replaced by a following year release.

Jackson’s Liberty was launched on Aug. 28, 2008. Since 7,806 proofs and 4,493 of the uncirculated options have been sold as of Aug. 16, 2009 — well short of the combined 40,000 mintage limit — the common assumption was that the coin would remain for sale until the release of the Sarah Polk First Spouse Coins on Sept. 3.

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Of Shanghai Surprises & Self-Consuming Snakes Good Afternoon, A surging US dollar-driven sell-off took a hefty amount of shine off the precious metals complex overnight and later on Monday. The better than 0.6% gain in the greenback pushed gold values to their lowest levels this month, to under $935 per ounce – all this, before [...]

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DALLAS, TX — Heritage Auction Galleries has announced that it recently secured a new $35 million line of credit from Wells Fargo Business Credit, a division of Wells Fargo Bank, N.A., to be used in support of its auction and sales operations. This comes as the holder of Heritage’s previous line of credit, Sovereign Precious [...]

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US currency may get new designs to make them more identifiable to the blind and visually impaired, but implementing changes could cost billions of dollars, a new study reveals. The Bureau of Engraving and Printing (BEP) announced that it initiated and has received a comprehensive report entitled Study to Address Options for Enabling the Blind [...]

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Coin Chat Radio’s Bob Van Ryzin starts the week’s ‘What’s In The News’ segment reviewing a newly introduced coin bill by Representative Robert Latta that would direct the US Mint to strike commemorative Ronald Reagan coins — $5 gold pieces and silver dollars — in 2013. The subject turns to US coin topics as United [...]

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