Gold Gains; Theodore Roosevelt 5 Oz Bullion Coin Released

by CoinNews.net on August 29, 2016 · 4 comments

gold bars and scale weighing gold bars

Gold edged up less than 0.1%

Gold was little changed Monday, but moved enough to log a second straight session of gains after marking a one-month low.

Gold for December delivery rose $1.20, or less than 0.1%, to end at $1,327.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,317.70 to a high of $1,328.30. They fell 1.5% last week.

"We could have had a gold rally if it wasn’t for Yellen’s speech, where she said there was a good case for a raise in interest rates," Bloomberg News quoted George Gero, a managing director at RBC Wealth Management in New York, said in a telephone interview. "It seems like everybody is on hold waiting to see what’s going to happen in September."

On Friday, Federal Reserve Chair Janet Yellen addressed the annual economic policy symposium in Jackson Hole, Wyoming.

Meanwhile, silver for September delivery added 11.4 cents, or 0.6%, to settle at $18.859 an ounce. Silver futures traded between $18.46 and $18.93. Last week, they tumbled 3.5%.

In other precious metals trading:

  • October platinum climbed $3.40, or 0.3%, to $1,081.10 an ounce, ranging from $1,070.40 to $1,085.30.

  • Palladium for December delivery advanced $5.50, or 0.8%, to $699.25 an ounce, trading between $684.10 and $700.45.

Last week, platinum fell 3.6% and palladium dropped 2.2%.

London Precious Metals Prices

U.K. markets closed Monday for holiday. In London bullion PM prices Friday:

  • Gold was $1,318.75 an ounce.
  • Silver was $18.67 an ounce.
  • Platinum was $1,077 an ounce.
  • Palladium was $690 an ounce.

They registered losses last week that totaled 2.1% for gold; 3.8% for silver; 2.6% for platinum; and 3% for palladium.

US Mint Bullion Coin Sales in 2016

U.S. Mint bullion sales rose jumped by 12,000 ounces in gold coins — matching all of last week’s total, and by 412,500 ounces in silver coins — just 20,000 ounces shy of the amount sold last week.

2016 Theodore Roosevelt National Park ATB Coin

The U.S. Mint is now accepting orders for the five ounce Theodore Roosevelt America the Beautiful Silver Bullion Coin. The coin shares the same designs as featured on the Theodore Roosevelt quarter, which the Mint is also now selling in roll and bag products at www.usmint.gov.

The latter include sales of the new silver coin commemorating Theodore Roosevelt National Park in North Dakota, the fourth of five 2016-dated America the Beautiful Five Ounce Silver Bullion Coins. Its first-day sales reached 27,500 coins for the slowest start of the four so far, with:

  • the third coin featuring Harpers Ferry National Historical Park in West Virginia debuting with sales of 33,000 (now at 36,100 coins);
  • the second coin depicting Cumberland Gap National Historical in Kentucky opening at 48,000 (which sold out at 75,000 coins); and
  • the first coin honoring Shawnee National Forest in Illinois beginning with 41,800 (which sold out at 105,000 coins for the highest total since the Glacier National Park coin from 2011).

Earlier Monday, the U.S. Mint also started selling rolls and bags of Theodore Roosevelt quarters.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday Sales Last Week July Sales Aug Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 0 1,000 19,000 1,000 20,000
$50 American Eagle 1 Oz Gold Coins 9,500 6,000 30,000 47,000 483,000
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 2,000 3,000 51,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 10,000 4,000 100,000
$5 American Eagle 1/10 Oz Gold Coins 10,000 15,000 50,000 60,000 615,000
$50 American Buffalo 1 Oz Gold Coins 1,500 2,500 10,000 9,000 131,500
$1 American Eagle 1 Oz Silver Coins 270,000 430,000 1,370,000 1,280,000 28,900,500
2016 Shawnee 5 Oz Silver Coins* 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 1,000 500 0 1,900 36,100
2016 Theodore Roosevelt 5 Oz Silver Coins 27,500 500 0 27,500 27,500

 

{ 4 comments… read them below or add one }

Seth Riesling August 29, 2016 at 5:10 pm

America the Beautiful Coins™

I thought the TR 5-oz silver bullion version 25-cent coin would sell more on the first day of issue today to the Mint’s 13 worldwide bullion coin Authorized Purchasers. It is the best design for this year IMHO. Can’t wait for the vapor-blast “P” version to be offered in October.

-NumisDudeTX

Mouse August 29, 2016 at 7:17 pm

Is this 5 ounce bullion coin, 3 or 4 – 9’s silver?

Mouse

Seth Riesling August 29, 2016 at 8:05 pm

Mouse –

All of the US Mint 5-oz ATB coins are .9993 fine sliver & marked on the edge as “.999 FINE SILVER 5.0 OUNCE”
The US Mint has never struck a coin or medal in four 9s fine silver in its 224-year history!

-NumisDudeTX

Mouse August 29, 2016 at 8:19 pm

Thanks for the education Seth. Always appreciated.

Mouse

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