Monthly Archives: May 2011

A stunning 1870 Type Two $20, PR65 Ultra Cameo NGC, CAC -- one of only four or five specimens confirmed in collector's hands -- brought $345,000 as the top lot in Heritage Auctions' $23.9+ million April 27-30 CSNS Signature® & Platinum Night U.S. Coin Auction, held in conjunction with the annual Central States Numismatic Society Convention in Rosemont, IL.

"Rare gold was the dominant theme of Platinum Night at CSNS," said Greg Rohan, President of Heritage Auctions. "Fully nine of the top 10 lots were gold rarities and, overall, prices took a jump across the board last week [...]

As Mother's Day 2011 approached, two familiar bills were revived and put before Congress to honor moms. For the last several years, lawmakers in the House of Representatives and the Senate have re-introduced bills that seek to commemorate the 100th anniversary of Mother's Day with up to 400,000 silver dollar coins.

The bills, given the title Mother's Day Centennial Commemorative Coin Act, would require the United States Mint to issue collector proof and uncirculated quality coins in 2014 that are "emblematic of the 100th anniversary of President Wilson's proclamation designating the second Sunday in May as Mother's Day." [...]

Silver futures prices fell for a fifth straight session on Friday, capping a weekly loss of 27.4 percent and closing out its worst week in decades.

Gold and other metals advanced Friday, but they ended lower on the week with palladium falling 9.6 percent and gold and platinum each dropping 4.2 percent.

On Friday, silver prices for July delivery declined 95.3 cents, or 2.6 percent, to close at $35.287 an ounce. They ranged from $33.035 to $36.430. Higher margin requirements by CME Group were attributed in pressuring the metal [...]

The grimmest commodity market closing tally in almost two years was recorded yesterday afternoon in New York. Awash in a sea of red, the price boards showed a $43.40 drop in gold, a $4.74 (12%) collapse in silver, a $54 implosion in platinum, and a $34 cave-in in palladium.

However, the precious metals were not the only ones to reflect the massive selling wave that swept through the sector in the wake of apprehensions that central banks will continue to [...]

The United States Mint released the 2011 Eliza Johnson First Spouse Gold Coins on Thursday, May 5, at 12 PM Eastern Time. The coins are this year's debut issue in the First Spouse series and the eighteenth since they began in 2007.

Eliza Johnson was the country's First Lady while her husband Andrew Johnson served as President of the United States between 1865 and 1869. The collector coins [...]

U.S. gold and silver stepped further back Thursday as the U.S. dollar gained strength and after CME Group Inc. announced another series of steeper trading requirements. Gold dropped 2.2 percent while silver prices plummeted 8.0 percent and to a more than six-week low.

June gold prices lost $33.90 to $1,481.40 an ounce on the Comex in New York. Gold hit an intraday low of $1,476.80 and a high of $1,522.10 [...]

Legend Numismatics of Lincroft, New Jersey, representing collector Bob R. Simpson of Fort Worth, Texas, has purchased the complete set of $10 Liberty Head gold pieces assembled by Professional Coin Grading Service Founder David Hall. The transaction is valued at $4 million, according to Laura Sperber, Legend President.

Hall's set is listed on the PCGS Set RegistrySM as the "Ellen D" collection (after his wife's first name). It is not only the finest set of its kind on the Registry, it is also finer than fabled sets assembled by noted [...]

For the first time in three years, collectors may purchase an uncirculated American Gold Eagle from the United States Mint. The one ounce, 22-karat gold coin went on sale Thursday at 12:00 noon ET with an opening price of $1,778.00.

The United States Mint produces three types of American Gold Eagles -- two collector versions that feature a unique proof and uncirculated finish with both bearing the West Point ("W") mint mark, and an investment-grade bullion coin that does not have a special finish or the "W" mint mark [...]

The losses in the precious metals space aggravated overnight and into this morning as, despite a still-weak US dollar, the further hiking of the CME's margin requirements, a plethora of news about big names exiting the complex, and the prospect of one-off central bank gold sales spooked weak latecomers and had them throw in the proverbial towel while forcing them to exit the market.

However, some not-so-late-comers (George Soros for one) were also seen taking what was deemed as "good enough" off the table and reducing the size of their previous metals allocations in the face of a possible [...]

The United States Mint on Wednesday, May 4, released the Mount Hood Quarter Three-Coin Set for a price of $14.95.

The three-coin set is the fifth issue in the America the Beautiful Quarters® product series and the final 2010-dated release. The three quarters within the set share a reverse design that honors Mount Hood National Forest which is located in the state of Oregon [...]