Monthly Archives: November 2009
19th Annual Penny Harvest Commences
Austrian Mint Launches Crown of an Archduke Gold Coin
The second 100 Euro coin in the gold series "Crowns of the House of Habsburg" will be released on Wednesday, 4th November. It is dedicated to the so-called "Archduke's Hat", a name derived from the red velvet cap within the crown itself.
CLICK TO ENLARGE: Austrian 100 euro Crown of an Archduke Gold Coin
The title of archduke was invented by Rudolf IV in the spurious document of 1358/59 called the privilegium maius. It was an attempt to assert the status of the House of Habsburg as the equal of any Prince Elector of the Holy Roman Empire. There exists a mediaeval portrait of Rudolf wearing a crown similar to the Archduke's Hat. Early versions of the crown have not survived, being either broken up or melted down.
In 1616, however, Archduke Maximilian III of Tyrol had the present Archduke's Hat fashioned and he gave it to the Augustinian Abbey of Klosterneuburg just outside Vienna in honour of St. Leopold, whose tomb and shrine are still situated there to this day. The crown was not worn as such. There was no coronation. It was rather a symbol of authority and rank. It was brought into Vienna only for the ceremony of homage paid by the Estates of Lower Austria on the accession of a new Habsburg ruler. Even today the crown is not permitted to be outside the walls of the abbey for more than 30 days at a time.
Gold Hits Record High, Silver Soars, Stocks End Mixed
BEP Issues President Obama Engraved Portrait
2009 Buffalo Gold Proof Coin 4-Day Sales at 19.5K
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.
2009 Lincoln Presidency Cent Launch Information
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.
US Mint Gold and Silver Coin Demand Sets October Records
October was explosive for US bullion coins. Unprecedented demand for gold and silver coins elevated the month with US Mint recorded sales levels that are either at or near the top of the all-time high charts.
Bullion American Gold Buffalo and American Silver Eagle coins enjoyed their best October ever.
For the Silver Eagles, more than double the amount were sold last month at 2,939,000, than in any previous October. The month also stands out as the time when 2009 became the best selling year ever for eagles -- dating all the way back to their launch in 1986. The latest numbers pad the tally further with 23,406,500 delivered in the first 10 months of this year.
American Silver Eagle Bullion Coin Sales, Oct. 1986-2009
The 24 karat, one-ounce bullion Gold Buffalo coins were released on Oct. 15. By the 31st, 116,500 were ordered. No other two weeks sales of the coins approaches comparison. The following table displays the annual sales figures since the series began in 2006, placing a perspective on how strong demand was during those two October weeks.