Monthly Archives: March 2011
US Mint Reviews Product Pricing for Silver Coins and Sets
The United States Mint is reviewing the pricing of its silver products due to soaring silver prices, according to a US Mint official. Sales of at least one of its silver sets have been suspended until the review process is complete.
The Mint currently has a pricing policy in place for its numismatic gold coins. Based on it and the prevailing cost of gold, the US Mint may adjust collector gold coin prices weekly. It does not have a similar pricing system in place for its numismatic silver products [...]
Gold Pares Gains, Silver Prices Reach $36.75
U.S. gold and silver on Monday reached respective highs of $1,445.70 and $36.75 as rising oil prices and violence in Libya prompted safe-haven buying. Both metals eventually gave back a portion of their gains as profit-taking emerged.
Platinum and palladium moved opposite of gold and silver, with palladium plummeting the most at 2.4 percent [...]
Heritage and Gemini CICF Auction to Offer Ancient Coins Valued at...
A silver decadrachm of Athens struck 2,500 years ago, a silver tetradrachm of Naxos in Sicily struck circa 430 BC and a remarkable offering of Roman gold coins – spanning the history of the Empire – highlight the first joint auction held by Heritage Auctions and Gemini Numismatic Auctions, slated for April 14, 2011 during the Chicago International Coin Fair (CICF).
The joint Heritage-Gemini auction will include more than 552 Greek, Roman, Byzantine and medieval coins with individual estimates ranging from $500 to $875,000 and a cumulative estimated value of more than $3.5 million [...]
FTC’s Gold Consumer Alert Revisions Praised by Leaders of PNG, ICTA...
Leaders of three coin and precious metals hobby and professional groups are praising the Federal Trade Commission for acting on their suggested changes to the FTC's 2010 online consumer advisory entitled "Investing in Gold? What's the Rush?"
Some hobby and trade leaders were concerned that the original advisory contained some language that might be detrimental to reputable gold dealers and discourage collectors from acquiring gold coinage [...]
Oil [Price] Spill – Monday Kitcommentary
Precious metals trading got off to a flying start on Monday, with gold prices rallying by $11.10 per troy ounce, and they were initially quoted at $1,443.90 on the bid side of spot after having touched early highs at a new, $1,445.90 per ounce record.
Gold trading positioning continued to show a rise in open interest for the latest reporting period (ending on March 4) and the net speculative length in the yellow metal is at its most robust thus far in 2011. Gold ETF balances however continued to experience [...]
Silver Coin Values Explode to 31-Year Highs
U.S. silver prices on Friday soared to $35.33 an ounce, bringing silver coin values to 31-year highs in the process.
Silver rose nearly 84% last year, but it was down for most of 2011 until Middle East tensions sparked investor buying and lifted silver prices to new heights. The metal is already 14.2% higher this year and has doubled in price over the past 12 months [...]
Gold Prices Advance, Silver Jumps $1 and Tops $35
U.S. gold rebounded Friday, although prices fell short of the record high reached on Wednesday. Silver was on fire, jumping $1 on the day and closing above $35 an ounce for the first time since 1980.
Violence in Libya coupled with rising protests in other North African and Middle Eastern countries were pegged for gains in safe havens like gold and silver [...]
US Marshals Service Commemorative Coins in Gold, Silver and Clad Proposed
Newly introduced legislation would authorize the United States Mint to produce gold, silver and clad commemorative coins honoring the 225th anniversary of the establishment of the US Marshals Service.
The United States Marshals Service 225th Anniversary Commemorative Coin Act calls for a maximum of 100,000 $5 gold coins, 500,000 silver dollars and 750,000 clad half dollars to be minted and issued for the public in calendar year 2015. A limited number [...]
Take Two Coins and Call Me in the Morning – Friday...
Spot gold dealings opened with a $3.60 gain on Friday morning, and they were quoted at the $1,418.90 indication price.
Silver spot added 30 cents to open at the $34.53 level while platinum rose $3 to start the session off at the $1,828.00 mark per ounce.
Palladium dropped by an equivalent amount, to open at $810 the troy ounce, while rhodium remained unchanged once again, and [...]
Gold and Silver Prices Fall 1.5%
U.S. gold broke away from an all-time record while silver prices fell from their more than three-decade high. Each of the metals declined 1.5 percent on Thursday.
April gold prices fell $21.30 to settle at $1,416.40 an ounce on the Comex in New York. It ranged between $1,412.20 and $1,436.90. Gold closed at $1,437.70 on Wednesday, its best settlement ever [...]