Monthly Archives: December 2011
In The Lead – Apocalypse (Not) Now
Gold continued to exhibit the same patterns of risk asset behavior that copper, oil, and equities have been displaying while the European saga has been unfolding. Today was a day to start on a positive footing at least for the initial part of the trading morning.
Gold opened $12 higher at $1,757 while silver bounced 80 cents higher to $33.53 the ounce. Within less than half an hour, and in the wake of US economic news and cautious words coming from Ms. Merkel, the former was ahead by only $3 while the latter showed only 39 cents' worth of gains [...]
Bill Seeks to Amend Abraham Lincoln Commemorative Coin Act
A bill seeking to adjust how Lincoln commemorative coin surcharges are distributed was introduced in the U.S. House of Representatives, considered in the Financial Services Committee and has been marked up for a voice vote before the full body.
That Abraham Lincoln Commemorative Coin Act resulted in the highly successful United States Mint commemorative coin program in 2009 which resulted in the sellout of 500,000 Lincoln silver dollars -- 125,000 uncirculated, 325,000 individual proofs and another 50,000 proofs that were [...]
1793 Large Cent Rarities Cross the Block in Heritage FUN Platinum...
The Denis W. Loring Collection of 1793 Large Cents, 12 in all, will be offered as part of Heritage Auctions' Thursday, Jan. 5 2012 Platinum Night auction, part of the company's Jan. 3-8 U.S. Coins & Platinum Night FUN Signature® Auction. The events are all taking place at the Orange County Convention Center in Orlando.
"Each of these 12 coins is among the very finest of its kind," said Greg Rohan, President of Heritage. "Denis put years of work and research into assembling this collection and it's an honor and a privilege to handle it for him. We expect collectors will feel the same way and bid accordingly when these treasures come under the gavel." [...]
Gold Snaps 3-Day Rally, Silver Dips 4.5 Cents
Breaking a three-day winning streak, gold edged 0.6 percent lower Thursday as investors took profits and a mix of caution set in following the previous day's rally.
"We're in no-man's land," MarketWatch quoted Matt Zeman, head trader and strategist at Kingsview Financial in Chicago. "People are still digesting the rally" on Wednesday and weighing how gold will be impacted by the central banks's action, he added.
After jumping $31.40 Wednesday, gold prices on Thursday retreated $10.50 to $1,739.80 an ounce in the February futures contract on the Comex in New York [...]
2011 Lucretia Garfield First Spouse Gold Coins and Medals Available
The United States Mint made the 2011 Lucretia Garfield First Spouse Gold Coins available on Thursday, December 1, at noon Eastern Time. The 24-karat gold collector coins are the fourth issue of this year and the twenty first in the series.
The strikes are available in two versions, proof and uncirculated. The proof's price is $1,029.00 and the uncirculated coin's price is $1,016.00. Like other numismatic gold offerings from the United States Mint, prices may change weekly, depending on the rise or fall of gold prices on the London Fix.
The new coins honor Lucretia Garfield, wife of James Garfield who served as the twentieth President of the United States. Lucretia Rudolph Garfield married her husband in 1858 while [...]
In The Lead – Dude, Where’s My Rally?
New York precious metals action opened with minor losses in gold and with mild advances in other metals, except for palladium, which continued it stunning two-day climb by adding 4% more to values in the spot price.
Gold fell $2 to the $1,747 mark while silver advanced 44 cents to the $33.25 level on the bid-side. The yellow metal hit a two-week high yesterday, buoyed by the spreading 'Buy Everything!' syndrome -- one that made for the Dow's best day of 2011 and its best session since early 2009 at the same time. What's wrong with that picture? Most everything that one has come to historically rely upon [...]