Yearly Archives: 2011
Stack’s Bowers Coin and Currency Auction at Whitman’s Baltimore Show Realizes...
Stack's Bowers Galleries conducted its official auction of the Whitman Coin and Collectibles Expo November 15 to 19, 2011. The impressive sale presented 8,858 lots and realized a total of $15.6 million.
U.S. coin, currency and exonumia offerings totaled 6,030 lots and realized $13.2 million. An additional 2,828 ancient and foreign coin and paper currency lots garnered $2.4 million in prices realized. Significant highlights featured in the United States coin sessions included selections from the Teich Family Collection, the Brandywine Collection, the [...]
In The Lead – Shooting The Bull
Following a $44+ slide to near two-month lows and a further overnight dip to lows near $1,650 gold prices attempted to stage a modicum of stabilization and recovery this morning, mainly on the back of a slightly weaker US dollar. Europe continues to present a vexing and continuing problem for the yellow metal despite the fact that Spain managed to sell a tad more debt than had been anticipated at an auction this morning and despite the fact that German economic data came in above expectations as well.
The principal structural issues plaguing the region remain very much rooted and are unnerving investors without any letup. The single best reflection [...]
Heritage January NYINC Coins Auction Features 5,200+ Lots
A simply magnificent 1892 South African Republic gold Proof Pond 1892, PR65 NGC -- the best of just 10 like pieces known to have been minted -- is expected to bring $300,000+ as one of the principal highlights of Heritage Auctions' Jan. 2-3, 2012 World & Ancient Coins Signature® Auction, an official auction of the New York International Numismatics Convention (NYINC), taking place at New York's Waldorf-Astoria Hotel.
"This marvelous proof Pond, from The Orange River Collection, is an especially well-preserved piece of this fabled mintage," said Cristiano Bierrenbach, Executive Vice President of Heritage. "It's also the finest possible rendering of the artist's original conception for the coinage [...]
Gold Prices Fall 2.8%, Silver Declines 3.9%
U.S. stocks, precious metals and other markets tumbled Monday as investor confidence in a successful resolution to Europe's debt crisis sank, propelling gains in the U.S. dollar. As the greenback pushed higher and the euro fell to a two-week low, gold prices dropped to their lowest level since October 25.
"The stronger dollar is hurting gold," Miguel Perez-Santalla, a sales vice president at Heraeus Precious Metals Management in New York, said in a telephone interview that was cited on Bloomberg. "People are dumping all commodities, including gold, because of what is happening in Europe."
Gold prices declined $48.60, or 2.8 percent, to $1,668.20 an ounce in the February futures contract [...]
PNG President Forecasts Strong 2012 Coin Market
The President of the Professional Numismatists Guild (www.PNGdealers.com), Jeffrey Bernberg, predicts the 2012 market for "mega-rarity" coins will continue to be strong and the popularity of modern issues and mid-to-upper range paper money will continue to get collector support during the new year.
Based on his personal prognosis and comments he's heard from dealers and collectors across the country, Bernberg has issued an informal PNG President's State of the Market Outlook with forecasts for five areas of the market in 2012: modern issues, mega rarities; low-to-moderately priced [...]
In The Lead – The Hangover – Part V
Spot gold dealings opened the New York session this morning with a $35 per ounce loss at $1,676.50 on the bid, and with dimming prospects of the $2,000 Holy Grail being achieved in 2011.
A sizeable number of illustrious names have been on the list that called for not only $2K gold to be in the stockings under the holiday trees this season, but also for $2.5K, $3K, and $5K and $10K gold. In reality, gold is trading at November's low of $1,670 and October's $1,620 low is not all that far away, either. The yellow metal's 200 DMA is currently tracing a line at the $1,615-$1,620 levels. Thus far, the 'surprise rally' that had [...]
Gold Prices Mark Weekly Loss, Palladium Rallies, Silver Eagle Rebounds
While palladium prices soared 6.3 percent this week and in a direction many expected, gold prices dropped 2.0 percent when most participants in market surveys had projected a bullish outlook for the yellow metal before closing up shop last week.
Gold's weekly loss came in large part to a Thursday pounding in which prices fell $31 after the highly anticipated European summit opened with discouragement. By Friday, however, the majority of euro zone leaders agreed on a new deal in an attempt to contain the region's debt crisis. That news lifted equity markets and pressured the U.S. dollar, which heightened support for precious metals [...]
2011 First Spouse Bronze Four-Medal Set Available
Four bronze medals, each honoring a different First Spouse of the Presidents who served between 1865 and 1881, are featured in the United States Mint 2011 First Spouse Bronze Four-Medal Set that launched on Thursday, December 1, 2011.
Specifically, the medals bear the likenesses of Eliza Johnson, wife of President Andrew Johnson; Julia Grant, married to President Ulysses S. Grant; Lucy Hayes, President Rutherford B. Hayes's spouse; and Lucretia Garfield, wife of President James Garfield [...]
US Mint November Coin Production: Chickasaw Quarter Mintages Explode
More Chickasaw Quarters have been struck -- by far -- than any other America the Beautiful Quarter, U.S. Mint coin production figures for November reveal.
Also unveiled were Garfield Presidential $1 mintages. No big surprise with those as they came pretty much in line with other recent issues in the Presidential $1 coin series.
Released Thursday by the United States Mint, November coin production figures improved 715.96 million for a 3.7 percent increase over October and a resounding [...]
In The Lead – Yawn
Spot gold dealings had lost nearly $38 on Thursday and closed near their lows for the day, threatening to breach the $1,700 price support. This morning's near $10 opening advance to $1,715 per ounce represented perhaps in part a response (and a small one at that) to the EU's fiscal accord but more likely a minor corrective bounce in a market that still has the euro trading at $1.33 and the US dollar unwilling to roll over and fall on a sword. One would have expected a truly grand celebration ($75 or more) in the yellow metal's trading space on the back of the "be-all end-all" agreement that was cobbled together in Marseille.
Once again, it might be safer to say: "Dude, where's my rally?" this morning. By the 9 o'clock hour in New York, gold was seen as [...]