Monthly Archives: November 2011
US Mint Sales: American Eagle Proof Coins Outperform
Buying activity eased a bit for United States Mint numismatic products. The latest Mint sales figures show that 35 products outperformed their previous weekly gains as compared to the 53 noted just one report earlier.
Collectors did focus more of their attention on American Eagle gold and silver proof coins. All of the individually sold Eagles were among the Mint's overachievers, albeit in a mostly modest way. American Silver Eagle proof coins actually led all numismatic product sales with a weekly spurt of 18,011 versus the prior 17,701 [...]
Gold Declines on Dollar Strength and Easing Inflation
Strength in the U.S. dollar again curbed the appeal of bullion as investors chose the greenback over the traditional safe-haven of gold. Declining U.S. inflation was also bearish for the yellow metal.
"Cautionary selling in gold continued after more euro zone headlines negatively affected the outlook for economic recovery and reform there. More portfolio managers are opting for cash and not entering into any risk," Reuters quoted George Gero, vice president of RBC Capital Markets.
Gold prices declined $7.90, or 0.4 percent, to $1,774.30 an ounce in the December futures contract [...]
BEP Releases $1 Year of the Dragon Note
The Bureau of Engraving and Printing (BEP) on Wednesday, November 16, released a new $1 Year of the Dragon Note.
The banknote is the latest BEP product within its Lucky Money Collection which features uncirculated notes in denominations that capture the "significance of the numbers '8888' and '168', as well as the Zodiac celebrated for the specific Lunar Year."
Each of the dollar bills has a serial number beginning with "8888." [...]
Final Days for Zachary Taylor Presidential Dollar Rolls
Buyers have until the end of this week to purchase Zachary Taylor Presidential dollar rolls directly from the United States Mint. As previously described in a last opportunity announcement involving several products, the Mint will stop selling the rolls on Friday, November 18, at 12:00 noon ET.
Zachary Taylor Presidential dollars were released within rolls by the United States Mint way back on November 19, 2009 -- the same day they entered circulation via Federal Reserve Banks. Buyers then had an option to purchase Philadelphia or Denver minted [...]
In The Lead – Achoo! I think I’m coming down with...
Albeit bullion appears to remain confined to the $1,750-$1,800 value zone the possibility of sharp moves in either direction is on the rise given the apparent increase in the number and decibel level of various market alarms that are ringing this morning.
The head-scratcher of the day/week/month is what gold is doing under the $1,900 or even the $1,800 levels with the crisis in Europe undergoing its most intense phase and with the Old World facing what Angela Merkel has called its "biggest challenge since WWII." Hint: look no further perhaps than them dollar bills in your pocket, as they now remain the "lesser of all evils" for some -- make that: for many [...]
Gold Edges Higher, Silver Gains 1.3%
Gold edged higher Tuesday as its safe-haven appeal won out over a stronger U.S. dollar. Gold prices rose $3.80, or 0.2 percent, to $1,782.20 an ounce in the December futures contract on the Comex in New York. Gold ranged from an intraday low of $1,760.90 to a high of $1,787.80. The yellow metal retreated $9.70 on Monday.
"We do see very active physical and safe-haven buying on dips. Even though we do see pressure from a stronger dollar, dips are seen as buying opportunity and key support levels have held," Reuters quoted David Meger, director of metals trading of futures broker Vision Financial Markets.
Silver prices for December delivery advanced [...]
Medal of Honor Coins Get 11th Hour Boost From Texas Coin...
With the United States Mint's mid-December sales cutoff deadline approaching, the President of the Congressional Medal of Honor Foundation is praising an 11th hour effort by a prominent Texas coin dealer to boost lower-than-anticipated sales of the commemorative 2011 Medal of Honor uncirculated silver dollars. By law, the South Carolina-based foundation receives a $10 surcharge for each coin sold, and sales of the uncirculated dollar coins have lagged behind the proof version by over two-to-one.
Michael Fuljenz, President of Universal Coin & Bullion of Beaumont, Texas has purchased 1,900 of the uncirculated dollars for sale to customers, the largest single purchase of this coin from the Mint [...]
Garfield Presidential Dollar Launch Ceremony and Coin Exchange on Nov. 17
The United States Mint scheduled a launch ceremony and coin exchange for the James A. Garfield Presidential $1 Coin on Thursday, November 17, 2011.
Open to the public, the events will take place at the James A. Garfield National Historic Site located at 8095 Mentor Ave in Mentor, Ohio, which is about 30 minutes east of Cleveland. The ceremony will start at 10 AM Eastern Time with the coin exchange immediately following.
The keynote address at the ceremony will be given by Dr. Allan Peskin, Professor Emeritus of History at Cleveland State University and author of Garfield, a biography of the President [...]
The Presidents Cup Coins Released by Royal Australian Mint
One of the fastest selling collectible coin programs released by the Royal Australian Mint is coming to the green fairways of the Royal Melbourne Golf Club when it hosts The Presidents Cup tournament for the second time from 15 - 20 November 2011.
Golfers and collectors alike are racing to own one of these high quality, stunning coins that have almost sold out already through the usual Royal Australian Mint sales channels [...]/p>
Stuppler Examines Hyperinflation and Gold Confiscation Possibilities
In a new analysis of the economic conditions facing the United States and the world, veteran precious metals expert Barry Stuppler of Stuppler & Company in Woodland Hills, California cautions we will see "serious global inflation with a high likelihood of hyperinflation within the United States."
Stuppler has researched and authored "Is Hyperinflation the US Government's Only Way Out?," a 30-page analysis of economic, historic and social factors. He concludes: "If your assets are stored primarily in US dollars, you need to act now to protect your family, wealth and future."
He says many financial planners he works with are recommending [...]