One of the pleasant side affects of the Coin Modernization and Taxpayer Savings Act of 2008, which would change the metallic composition of pennies and nickels to steel, is the revelation of current and past costs in minting coins.

Figures of coin production expenses are interesting in themselves, but charting their trends is another reminder of the volatility of metals within coins, like that of copper, zinc and nickel.

The cost of minting each penny and nickel today are:

• Penny at 1.26 cents
• Nickel at 7.7 cents

As a side note, the U.S. Mint also provided recent costs to mint the dime, which is 4 cents, the quarter at 10 cents and $1 coins at 16 cents each.

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The United States Mint 2008 New Mexico Official First Day Covers went on sale Thursday, May 8. The coin cover is 47th in the series released.

The limited edition covers include two New Mexico state quarters that were minted on the first day of production.

Each quarter has the state’s "Zia sun symbol” design with one manufactured from the Mint’s facility in Denver while the other from Philadelphia. The respective mint marks of "D" and "P" are on each.

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The Bureau of Engraving and Printing (BEP) has announced that the new 2008 Dallas $2 Single Notes are available today, May 12, 2008.

The Dallas banknotes are the fifth $2 collector bill released in 2008. The Atlanta $2 single notes were first off printing presses in January followed by the New York $2 notes in February, the San Francisco $2 notes in March and the Chicago $2 notes in April.

Interested collectors should purchase early since previous $2 notes sold out almost within hours of their availability.

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The American Numismatic Association’s School of Numismatics offers the opportunity to improve coin grading skills with their ‘Fundamentals of Grading U.S. Coins’ course by instructor Lane J. Brunner, Ph.D.

The American Numismatic Association’s School of Numismatics will offer its Fundamentals of Grading United States Coins, from 9 a.m. to 5 p.m. Nov. 8-9 during Coinfest in Stamford, Conn.

Students will learn and understand how U.S. coins should be graded according to the latest ANA and market standards during this highly enriched two-day seminar. Participants will gain confidence in evaluating surface marks, strike, luster and eye appeal through interactive discussions, group activities and individual study of hundreds of coins from the ANA grading set.

"A well-rounded education is the foundation of any successful collector," said ANA Executive Director Larry Shepherd. "Courses like Fundamentals of Grading United States Coins can teach hobbyists skills and information that will save them thousands on the bourse floor."

Summer Seminar instructor Lane J. Brunner, Ph.D., will teach the course.

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Platinum enjoyed a robust week, silver showed a modest gain and gold dropped slightly on the London Fix.

Platinum’s rally was helped along Friday by the launch of two Exchange Traded Notes (ETNs) from investment bank UBS. Although the ETNs do not purchase physical platinum to back their shares, they offer a means for funds to access it. That drew public interest.

London Platinum closed to $2,079 an ounce, which was up $201 compared to its previous Friday close. Silver ended Friday at $16.97 an ounce, or up $.78 over the same period. And finally, gold closed at $876 an ounce and was down by $22 from Friday to Friday.

Outside the London Fix, which closes mid-mornings, gold experienced a small spurt late Friday and a 3% weekly gain for June delivery on the New York Mercantile Exchange. High crude oil, and weakness in the U.S. dollar were factors. But its future is in deeper question by some analysts.

“The large drop, to $869, was seen despite a dollar that continued on the weaker side today, and was partially attributed to crude oil coming off about one dollar from another record high of $126.20 per barrel," said senior analyst Jon Nadler at Kitco Bullion Dealers.

"The counterintuitive move and the metal’s inability to mount a serious rally to at least $900 on a day when oil set new highs and platinum advanced $75 per ounce does raise some valid questions as we go into next week," Nadler continued.

The silver, gold and platinum weekly charts and comparisons from last week are below. The weekly business recap video from Reuters and three related precious metal articles links are included as well.

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IRVINE, Calif. – Teletrade, America’s largest fully automated Internet auction company for certified coins and currency, will auction “The Green Holder Collection” on Sunday, June 1, 2008, in online Auction #2536. The auction will be live at www.teletrade.com from 3 p.m. to 10 p.m. eastern time and will include more than 1,500 certified coin lots.

The complete catalog will be viewable on the Teletrade website beginning Friday, May 23. Highlights from “The Green Holder Collection” will be on display at the Long Beach Expo May 29-31 at table 427.

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The House debated on the legislation and finally voted yesterday to change the metallic composition of the penny and 5-cent nickel to a less expensive copper-colored steel.

Although the prices of copper, zinc and nickel metals in coins have declined in recent months, the penny and 5-cent nickel still cost more to make than what they’re worth—resulting in a reported loss of about $100 million every year, or $1 billion over a decade.

It now costs about 1.26 cents to make the penny and about 7.7 cents to make the nickel.

House bill “H.R. 5512, the Coin Modernization and Taxpayer Savings Act of 2008” would seek to change those manufacturing costs by using copper-colored steal, which could cut the cost of making pennies down to about 0.7 cents each. But its recent passage in the House is no guarantee it’ll make its way to the White House for signing.

H.R. 5512 must still go through the Senate and then the President, and not everyone is happy with the current legislation.

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Numismatist Daniel Frank Sedwick featuring Treasure Auction #3 with over 1100 lots, including a rare astrolabe, gold cobs, silver coins, Chinese porcelains and other artifacts.

Winter Park, FL - Numismatist Daniel Frank Sedwick is releasing a Treasure Auction, among the items on the numismatic market today are gold cobs, particularly from the Spanish 1715 Fleet off the east coast of Florida, and this sale features dozens of them, all carefully selected for quality and eye-appeal.

There will be also some small gold ingots and nuggets from the Espadarte wreck of 1558 off Mozambique," commented Daniel Sedwick,

"We offered the first part of this unique collection of gold pieces in our Treasure Auction #1 a year ago, and they were well received. This time we are certain of the shipwreck name, which should boost their interest even further."

Another early important shipwreck find in this auction is the Michael Goldston collection of silver “tumbaga” ingots from a still-unidentified wreck of ca. 1528 off the Bahamas.

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Dallas, TX. A pair of 1794 silver dollars and three Continental dollars are among the rarities included in the catalog for the Official Auction of the May 2008 Long Beach Coin Expo. The auction, being held in California May 28-30, is now posted by Heritage Auction Galleries on their HA.com website.

Signature catalogs for the auctions of both U.S. and World Coins & Ancients have been posted.

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A Florida man has sued U.S. Treasury Secretary Henry Paulson with the goal of recognizing 10 men he says were president before George Washington. He wants Paulson to add these men into the Presidential $1 coin series.

Stanley L. Klos of Palm Beach, Florida would like everyone to know and recognize the men who were Presidents of the United States in Congress Assembled—leaders after the Articles of Confederation were adopted in March of 1781 and prior to Washington’s presidency in 1789.

The men Klos speaks of are Samuel Huntington, Thomas McKean, John Hanson, Elias Boudinot, Thomas Mifflin, Richard Henry Lee, John Hancock, Nathanial Gorham, Arthur St. Clair and Cyrus Griffin. Men, he says and talks about in his book, President Who? Forgotten Founders, who not only held top positions in U.S. history, but signed national documents as the President.

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