Monthly Archives: January 2012
Gold Gains $50 on Week, US Bullion Coins Robust in 2012...
Gold dipped modestly Friday, breaking away from a four-session winning streak. But the yellow metal still advanced $50, or 3.2%, for the week, scoring its best weekly pick-up since early December.
"Gold came under pressure because people are a bit more comfortable with the recovery of the economy, but it is going to remain rangebound until we get some significant news to push it into either direction," Reuters quoted Fred Schoenstein, metals trader at Heraeus Precious Metals Management.
Gold prices edged down $3.30, or 0.2%, to $1,616.80 an ounce in the February futures contract on the Comex in New York [...]
PCGS Opens Hong Kong Office
In a major expansion of its international services and activities, the Professional Coin Grading Service (PCGS) division of Collectors Universe, Inc. (NASDAQ: CLCT) has established a Hong Kong-based authentication and grading operation.
The new Asia venture will be known as Collectors Universe (Hong Kong) Ltd.
In May 2010, PCGS successfully opened an office in Paris, France as part of the company's increasing international services, and since then PCGS-certified coins have repeatedly brought higher-than-estimated prices at public auctions in Europe [...]
US Mint Adds Presidential $1 Coin Products, Cuts Prices
A new line of Presidential $1 Coin products are in store for 2012 while all but one of the existing products will have their prices lowered.
The news comes from a document the United States Mint had published Friday on the Federal Register, the official source for notices by government agencies.
Ranging from $1 to $7, price reductions include the dollar-filled medal sets, coin covers, proof set and uncirculated set [...]
2012 Presidential $1 Coin Images Reveal Designs
The United States Mint on Thursday announced the designs and released associated images for the 2012 Presidential Dollar Coins. Showcased on the four 2012 coins are obverse portraits of former Presidents of the United States Chester Arthur, Grover Cleveland (acknowledging his first term), Benjamin Harrison and Grover Cleveland again (acknowledging his second term).
These four issues mark the twenty-first through twenty-fourth of the Presidential $1 Coin series. The program debuted in 2007 under which new Presidential dollars are issued [...]
In The Lead – Payrolls Hit Pay Dirt
Gold prices opened on the nervous side this morning but eked out an 80-cent gain to start the final session of the week at $1,622.20 per ounce. The dollar's current strength (it is trading near one year highs) is continuing to hold gold back from convincingly surpassing the $1,633 (200-DMA) resistance area and from trying to aim for at least $1,700 or so given the geopolitical tensions at hand.
Silver dropped a penny to open at $29.36 the ounce. The picture was mixed in the noble metals' space where platinum was unchanged at $1,412.00 but [...]
PCGS-Certified 1793 Chain Cent Sets $1.38M Record in Heritage’s FUN Auction
A 1793 S-4 Chain cent, graded PCGS MS65 Brown, sold for $1,380,000 in the Heritage Auctions Platinum Night event at the Florida United Numismatists convention in Orlando, January 4, 2012. That is a record price for a U.S. copper coin in a public auction, according to Heritage.
The Philadelphia Mint struck cents with the 13 linking rings design on the reverse only during the month of March 1793. The design was changed from a chain to a wreath after some critics complained the chain was symbolic of slavery even though the 13 rings were intended to represent the original 13 U.S. colonies [...]
2012 Year of the Dragon Gold Coins Depict Prosperity, Longevity and...
Available now from the Perth Mint of Australia are 2012 Year of the Dragon Gold Coins. These 2012 Year of the Dragon Gold Coins are issued by the Mint as a part of the Chinese Astrological Series and feature a dragon and the Chinese character for either prosperity, longevity or success -- Fu, Lu and Shou.
Each coin is struck from 1/5 ounce of 99.99% pure gold to proof quality. The gold coins are available in differing product options. The 'Prosperity' coin is available individually with a maximum mintage of 2,000. Expanding on the Chinese Astrological Series, a [...]
Gold Prices Advance for Fourth Day, Silver Rises Modestly
Gold extended its streak of wins to four straight sessions Thursday after trading below $1,600 an ounce for much of the day as a higher U.S. dollar provided pressure. European sovereign debt woes and heightened tensions with Iran drove enough safe-haven buying to eventually lift gold prices 0.5% higher.
Gold prices added $7.40 to $1,620.10 an ounce in the February futures contract on the Comex in New York. Gold [...]
US Mint Sales: Silver Coins and Presidential $1’s Stronger, Annual Sets...
It was almost back to basics for collectors as the latest United States Mint sales figures show improved demand for numismatic products containing silver coins, Presidential $1 coins and America the Beautiful Quarters. Updates sales for the 2010-dated annual sets which were taken off sale on December 30 are also available.
Demand for silver coins was augmented due to their price reductions on December 27. The Uncirculated American Silver Eagle, which had its price cut by $5, jumped [...]
In The Lead – Here’s The Beef!
Gold prices fell back to under the $1,600 pivot point once again as US dollar strength (and euro weakness that pushed that currency to a fresh 15-month low) combined with renewed jitters about Europe overcame the effects of geopolitical tensions arising out of the Iranian situation and sellers pressured commodities lower.
New York spot gold lost nearly $15 to ease back to the $1,597 level while spot silver traded at lows near $28.75 after maintenance of the $29 level proved difficult [...]