New York gold futures surged to a new all-time high Tuesday as news hit the streets that the IMF sold 200 metric tons of gold to the Reserve Bank of India. Platinum rose as well, while silver soared to reach back above $17 an ounce. In other markets, crude oil ended higher and US stocks closed mixed.

New York precious metal figures follow:

• Silver for December delivery surged 74 cents, or 4.5 percent, to $17.180 an ounce. It ranged from $16.245 to $17.35.

• Gold for December delivery jumped $30.90, or 2.9 percent, to $1,084.90 an ounce. The yellow metal ranged from $1,055.50 to $1,088.50.

• January platinum rose $18.10, or 1.4 percent, to $1,356.20 an ounce.

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The Bureau of Engraving and Printing (BEP), the government agency responsible for printing US currency, has released the newest addition to the Presidential Portrait Collection, the President Barack Obama Engraved Portrait.

The collection features portraits of each US President captured with the "artistry and craftsmanship of skilled Bureau of Engraving and Printing employees."

There are two hand engraved pints available, a large 9" x 12" Obama portrait for $5.50 and a smaller 6" x 8" for portrait $5.00. Read the rest of this entry »

Inaugural sales of the 2009 American Buffalo Gold Proof Coin are exceptionally strong, according to newly released figures by the United States Mint. Four-day sales of the 24-karat, .9999 fine gold collector coin came in at 19,468 — a tad shy of surpassing figures for the one-ounce 2008 Proof Buffalo Gold.

The proof coin went on sale Thursday, Oct. 29, at 12:00 noon ET. Few issues were reported in ordering — via the phone or the US Mint’s website — during the first several hours of availability, unlike the recent launch of the Lincoln Coin and Chronicles Set where the 50,000 authorized sold out within 30 hours.

The Buffalos were released at an issue price of $1,360.00. That was expected to hold some collectors at bay. Further complicating a decision to order was the falling gold prices last week. The US Mint prices its collector gold coins based on a weekly average of the London Gold fix. If the gold price falls below $1050 an ounce, the Buffalo and UHR gold piece will be dropped $50.

A price reduction was missed last Wednesday by a mere 28.8 cents, and indications were that the change could occur this week. That may still happen tomorrow, although it seems less likely. Read the rest of this entry »

With the release ceremony for the final 2009 Abraham Lincoln Bicentennial Cent scheduled for next week, the US Mint has also announced plans for two additional exchange opportunities for those wanting to get their hands on some of the new 2009 Lincoln DC Presidency Cents.

The ceremony itself is scheduled for 10 AM ET on Thursday, Nov. 12, at the Ulysses S. Grant Memorial on the west side of the US Capitol in Washington, D.C. Following the program, which is expected to last around 30 minutes, attendees will be given the opportunity to exchange cash for new bank-wrapped rolls of the Presidency cents.

Also at 10 AM, two other sites in D.C. will offer coin exchanges. The first will be at the US Mint’s sales outlet at Union Station, 50 Massachusetts Ave N.E. The second will take place on the first floor of the US Mint’s headquarters, 801 Ninth Ave N.W.

All three locations will allow the exchange of cash for a minimum of two rolls up to a maximum of six rolls of the newly minted Lincoln cents. Each roll will contain 50 circulation quality coins struck at the Mint’s facility in Philadelphia. The Mint has stated in advance that the limits may be changed at any time. Read the rest of this entry »