Monthly Archives: May 2009
Coin Chat Radio May 28th Episode Summary
Bullion & Business Weekend Report – May 30
Silver Soars to Best Month in 22 Years, Eagle Sales...
Silver continued its spectacular rise Friday, soaring another 45 cents in New York and scoring the best monthly gain in 22 years.
Silver futures for July closed to $15.61 an ounce, jumping 27 percent on the month for the biggest gain since April 1987. London spot silver ended at $15.52 an ounce earlier in the day, surging 64 cents.
"Extreme dollar weakness is adding to the momentum," Pradeep Unni, an analyst at Richcomm Global Services in Dubai, was quoted on Bloomberg. "Ascending oil prices, concerns of inflation and fears of massive U.S. debt have certainly been supporting" both gold and silver.
American Eagle Silver Bullion Coins experienced movement as well. Reports were abound earlier in the week on how authorized dealers for the U.S. Mint trimmed orders and left an inventory of bullion coins behind -- a situation that had been unheard of since the Mint started rationing the coins and suspended production of the 2009 collector proof and uncirculated versions.
US Mint Revives Last Chance Sale
Gold Above $960 as Silver Tops $15 an Ounce
Numismatic News: Mint Coin Reserve, Bullion Premiums, Coin Resources
Royal Canadian Mint Unveils Notre-Dame-du-Saguenay Coin
US Mint Sales: Rail Splitter Cents Jump, Braille Silver Dollars Surge
Lincoln Rail Splitter cents are still in demand, Braille Silver Dollar sales surge, Puerto Rico quarters are expired and UHR $20 gold coins continue mostly at their regular pace.
Repeating what most coin collectors already know, the Lincoln Rail Splitter cent went on sale Thursday, May 14. By Sunday, 200,055 of the two-roll sets were sold, equating to more than 20 million pennies. Flash forward more than a week to the lastest US Mint sales data... 22,771 more sets have sold for a total of 222,826. For background, read the CoinNews article from earlier this week entitled Lincoln Rail Splitter Sales "Normalizing".
Two Braille Silver Dollars returned from their flight aboard space shuttle Atlantis on Sunday. During their orbital trip, sales of the coins experienced their own mini launch here on earth --although not to the 50,000 level the NFB wanted from the public. Still, 10,000 more Braille dollars were sold, which pushed the gas pedal down some. The proof jumped the most, rising a healthy 8.0 percent over the prior numbers. To date, 165,741 of the allotted 400,000 silver coins have been sold.