Monthly Archives: November 2011
In The Lead – Sing To Me Of (Strange) Love
Spot dealings saw gold prices overcome the $1,750 resistance level and might offer the prospect of a try at the $1,775 wall as well. Yesterday we mentioned that silver production by global mines appears to be flowing quite freely at this juncture. Now, comes news that statistical firm GMFS (part of Thomson Reuters) is forecasting that gold mine output in the current year could touch the 2.800+ tonne mark and that such production of the yellow metal will continue to advance by some 2 to 4 percent per annum in coming years as well.
Those previous attempts (some coming from... mining firm execs, no less) to frighten investors with stories of "peak gold" may now safely be put to bed in the wake of four-digit gold prices. Such increases will add to the [...]
US Mint Sales: Eagle Anniversary Sets Trump Glacier 5 Oz Silver...
Collectors were clearly more focused on American Silver Eagle 25th Anniversary Sets last week as the maximum 100,000 sold out within five hours while the more 35,000 limited 2011-P Glacier National Park Five Ounce Silver Uncirculated Coin registered sales of 10,680 during the several days since its release.
According to the latest sales figures from the United States Mint, the anniversary sets were easily its most popular numismatic product of the week despite their steeper $299.95 price. In contrast, the Glacier 5 Oz Silver Coin, sold for $229.95, ranked fourth. The following is a list of the top five selling United States Mint collector products [...]
UK Royal Mint Reveals 2012 Britannia Silver Bullion Coin
The Royal Mint (www.royalmint.com) is proud to announce the release of a commemorative Britannia silver bullion coin for 2012. Designed by Philip Nathan, this celebration coin has been struck with his classic 1987 image of the powerful maiden to mark the 25th anniversary of Britannia bullion coins.
Since her first appearance on English coins in the seventeenth-century, Britannia has grown to become a powerful emblem, personifying the spirit of Great Britain [...]
ANA Announces 2012 Summer Seminar Scholarships for Young Numismatists
Continuing an annual tradition dating back to 1973, the American
Numismatic Association (ANA) in 2012 will award scholarships to Young Numismatists (YN).
The ANA last week announced that Young Numismatists can earn partial and full scholarships for the 2012 Summer Seminar in Colorado Springs. [...]
PNG Advisory: Three Things Gold Buyers Must Know First
Recent news stories questioning what some dealers charge when selling gold coins reinforces what experts have advised for years: do your homework first.
Investors should become knowledgeable before purchasing precious metal bullion coins as a financial investment or economic hedge, according to officials of the Professional Numismatists Guild (www.PNGdealers.com), a nonprofit California-based organization founded in 1953 that's composed today of the country's top rare coin and bullion coin dealers who must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise [...]
Gold Closes Near $1,730; Silver Advances 3.7%
Gold futures rose toward $1,730 an ounce Wednesday, advancing for the first time in four days as a weaker U.S. dollar, safe-haven buying and bargain-hunting led investors' buying motivations.
"A weak dollar is supporting commodities and risk assets ahead of the FOMC. Any surprise comments will likely be on the side of liquidity and easing, which certainly will be beneficial to gold." Reuters quoted David Meger, director of metals trading at futures broker Vision Financial Markets.
The FOMC, in fact, ended its two-day policy meeting mid-afternoon Wednesday. The committee offered a lightly improved outlook for the U.S. economy but also cut its forecasts on growth [...]
In The Lead – Old-Hat Headlines From The Old World
Spot gold dealings started off with a gain of $12.00 at $1,732.00 the ounce. Gold coin sales by the US Mint fell to almost half of the levels that were seen in September as well as compared to those reported in October of last year.
Despite incessant reports in various forums that US retail investors are "cleaning out" their local coin shops, only 50,000 coins were moved by the Mint into the marketplace. Silver coin sales were down by 1.4 million units in the month of October versus September but were nearly on par with 2010's October sales levels [...]
Gold Dips 0.8%, Silver Tumbles 4.7%
Gold futures fell for a third straight day Tuesday as strength in the U.S. dollar curbed the appeal of precious metals.
"Gold is behaving erratically with some strong currents pushing it in two directions at once," said Ross Norman, chief executive at London-based bullion broker Sharps Pixley, in emailed comments cited on MarketWatch. "Primarily, it is selling on the strong dollar pushing gold lower, and strong physical and [exchange-traded fund] buying from some investors on the other side pushing gold higher."
Gold prices closed down $13.40, or 0.8 percent, to $1,711.80 an ounce [...]
Spectrum Expands Collectibles and Coin Services with Paris Office Launch
Spectrum Group International, Inc., a Fortune 500 company, is the largest global trading and collectibles network in the world and is adding yet another international location with the launch of Spectrum Group France SAS in Paris. Just weeks ago, Spectrum Group announced the opening of subsidiary A-Mark Precious Metals' new office in Vienna, Austria.
Paris operations will be headed by Kerry Pieropan, a veteran numismatist with more than 20 years experience, most of which has been at Spectrum Group subsidiary, Spectrum Numismatics International. As the senior executive in charge of the Paris office, Pieropan will be tasked with leading the numismatic buying and selling efforts as well as overseeing development and business operations [...]
In The Lead – Hollow Win
Spot New York dealings opened solidly in the red for all the precious metals. Gold fell to lows near $1,680 after it easily pierced that pivotal $1,700 mark that appeared fairly solid just yesterday. Targets being mentioned among polled traders are focusing on the $1,675 and $1,650 areas below while the new "major" support has been quietly "pushed back" to the $1,600 mark now (at least in some of the perennially starry-eyed newsletters).
There are also those among the professionals who see a swift recapture of the $1,700 level as a possibility, given the nebulosity out there. Hopefully, not too many or sizeable margin call liquidations will develop in the wake of the rout in the Dow and hopefully MF Global is not sitting on bullion contracts that might need to be unwound [...]