Platinum Dives Lower Still, Gold and Silver Rise
50-Heller Coin Eliminated by Czech National Bank
PCGS Returns First Strike® Inserts to Collector Club Members
Steel Cents and Nickels Dead in the Water?
Legislation to change the metallic composition of the penny and nickel to a less expensive copper-colored steel passed in the U.S. House of Representatives on May 8, 2008.
However, the plunge in base metal prices since could very well end the legislation's chances of moving forward in the Senate.
The goal of the bill, which it titled Coin Modernization and Taxpayer Savings Act of 2008 - H.R. 5512, was directed toward saving money after high copper prices pushed production costs of the penny up to about 1.26 cents and the nickel to about 7.7 cents.
Since May, copper prices have fallen to where the melt value of a penny is now under a half cent and the nickel is just slightly higher than 5 cents — the U.S. Mint now makes money issuing pennies and almost breaks even with nickels.
Royal Australian Mint Launches Three New Websites, Two News Coins
The Royal Australian Mint has launched three new websites with each sporting a different theme and coin products. The offerings range from commemorative coins honoring the centenary of Sir Donald Bradman's birth and the 25th anniversary of Australia II's win in the American's Cup, to an exclusive club membership with product discounts.
U.S. Mint Suspends Non-Collector American Eagle Gold Coin Sales
The Gold Anti-Trust Action Committee (GATA) reported Friday that the United States Mint has suspended sales of American Eagle gold coins to their network of Authorized Purchasers.
The suspended coins are bullion coins (non collector versions) the Mint will not sell directly to the public, but instead to Authorized Purchasers who can then sell to the public.
At the time of this writing, fractional collector proof and uncirculated American Eagle gold coins are still available through the Mint's website, although the sharp drop in gold prices without a similar reduction in coin prices has resulted in much higher premiums for collectors to assume.
Bullion & Business Weekend Report – Aug 16
Precious Metals Tank, Coin Collectors Happy?
Bowers and Merena to Auction Extraordinary Gem 1851 Augustus Humbert $50...
The Highest Graded Mint State Humbert Gold Coin of Any Denomination or Variety Graded MS-65 * by NGC
IRVINE, Calif. – Bowers and Merena Auctions, America's leading rare coin and currency auction house, will auction an extremely rare and exceptional 1851 Augustus Humbert $50 Gold Piece at their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills, prior to the Long Beach Coin, Stamp & Collectible Expo.
Lot viewing for the entire auction is scheduled for Thursday through Saturday, September 11-13.
The coin, cataloged as August Humbert. $50 Gold. Reeded Edge. K-5. Rarity-5. 880 THOUS. MS-65 * (NGC), boasts a combined PCGS and NGC Population (1851 $50 Reeded Edge, 880 THOUS variety only) of just 1; 0 finer.
"This coin is a new discovery that has never been available for sale to our knowledge," said Steve Deeds, president of Bowers and Merena.
"The rarity, the quality, the history – it all adds up to make this one spectacular coin of the caliber that even the most experienced numismatists only see a few times in a lifetime.
This coin is one of the high points of the year at Bowers and Merena and we know it is going to a cause a big buzz for our September Beverly Hills Rarities Sale."
Gold Drops Previous Session Gain, Silver Slides 61 Cents
