July 2010

U.S. gold prices pulled back from their six-week low on Wednesday, advancing $3.80 as some bargain-hunters stepped forth to add their support. Other precious metals continued their climb which started on Tuesday. Silver rose 0.8 percent, platinum added 0.5 percent, and palladium gained 0.4 percent. In other markets, crude oil rose for the first time [...]

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The U.S. government printed fewer bills in June than in May, making the month the third busiest in 2010, according to figures from the agency responsible for manufacturing U.S. currency. The value of the banknotes produced in June reached the second highest monthly level this year, right behind May. The Bureau of Engraving and Printing [...]

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Dealers Praise Easy Access to Coin Grading At PCGS’ Paris Office Grand Opening (Paris, France) — Professional Coin Grading Service successfully opened its European grading center at its Paris, France office on June 7, 2010. Coin dealers from all over Europe visited PCGS in Paris to submit coins for onsite authentication and grading. This 2010 [...]

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B. I. S. – Bullion Is Simoleons Good Morning, Just one day after letting it be known that it has no intentions of disgorging its dollar or euro foreign exchange reserve holdings, the Chinese State Administration for Foreign Exchange said that gold cannot be considered as a mainstream investment vehicle for its reserves. The reasons? [...]

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The life and work of the late Professor Fred Hollows is being celebrated on a new $1 collector coin. It will be released by the Royal Australian Mint today at the opening of a Fred Hollows photographic exhibition at Parliament House. 2010 $1 Uncirculated Fred Hollows Inspirational Coin (Click image to enlarge) This is the [...]

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U.S. gold prices fell $12.60 to below $1,200 an ounce on Tuesday, marking its lowest level since late May. Other precious metals gained, however, with silver, platinum and palladium posting respective increases of 0.8 percent, 1.0 percent, and 3.2 percent. In other markets, crude oil ended down for a sixth straight session while U.S. stocks [...]

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2010 American Silver Eagle Bullion CoinThe United States Mint sold more American Silver Eagle bullion coins last month than in any other June since the series launched in 1986. Demand continues to soar during a time of year in which buying historically eases, further jeopardizing the possibility of 2010 proof and uncirculated eagle production.

Mint authorized buyers ordered 3,001,000 Silver Eagles in June, easily surpassing the prior 2,245,000 record set in June 2009.

The pace did retreat significantly from May’s 3,636,500 performance when sales fell just 59,500 short of the all-time monthly December 1986 record of 3,696,000. And the summer doldrums are present, noted by the fact that despite the over 3 million sold, June only ranks as the fourth best month in 2010.

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2010 American Eagle Gold Bullion CoinThe United States Mint sold 151,500 ounces of 2010 America Gold Eagles in June, marking the second highest monthly level since 1999 and despite June’s reputation as historically one of the slowest months of the year for bullion coin sales.

June sales trailed behind May’s milestone of 190,000, but the month easily ranked as the second highest of 2010 and, more meaningful, the second best since the sizzling months in 1999 when eagles were purchased at record levels prior to Y2K.

The June 10, 2010 release of fractional Gold Eagles supplemented sales as the 1/2 oz, 1/4 oz and 1/10 oz size joined the one once version that had been available since January 19, 2010. The fractional five-day figures came in at 310,000 coins, amounting to 48,500 ounces of gold.

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S.A.F.E. From Harm Good Morning, The extended break from trading came to an end this morning as market participants returned from one set of fireworks hoping that they would not witness a return engagement of same in the markets they follow. The US dollar weakened somewhat, the euro gained a bit of additional ground, and [...]

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U.S. gold rose modestly Friday after double-dip recession worries pulled prices down in the previous session to a five-week low for the biggest one-day loss since February 4. Gold gained $1 before the holiday weekend, but registered its worst week in six and its second straight weekly decline. Global economic concerns also pummeled other metals, [...]

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