Gold Falls Below $1,800, Silver Prices Dive Under $40
U.S. gold futures retreated toward a three-week low and below $1,800 an ounce Thursday after the European Central Bank announced plans coordinated with other central banks to lend U.S. dollars to stem the credit crisis.
"It's the denial stage that's taken hold of all the markets -- (a belief) that everything's going to be fine, the EU and U.S. leaderships can manage to put their economies to rights," Reuters quoted VM Group analyst Carl Firman.
"I don't think that is the case, and I think it's only a matter of time before that comes home to roost. The gold price is probably going to benefit from that."
Gold prices lost $45.10, or 2.5 percent, to $1,781.40 an ounce in the December futures contract [...]
In The Lead – No More Lehmans. Plenty of Testosterone However
Spot gold prices fell solidly under the $1,800 pivot point this morning (the low was touched at the $1,772 mark) and they remained very near the $1,780 level for most of the remainder of the trading day. The hefty decline came in the wake of coordinated action emanating from the ECB and other EU-region central banks.
The move happened to coincide with the third anniversary of the failure of Lehman Brothers and it certainly lent traction to the categorical words that Mr. Geithner uttered yesterday to Jim Cramer: "No more Lehmans." One might safely surmise that the man might have known what was to come to pass today from his Fed friends. What ended up coming to pass was in fact a reprieve of at least three months for Europe, courtesy of the official sector [...]
2011-W Uncirculated American Silver Eagles Launch
On Thursday, September 15, 2011 at noon Eastern Time, the United States Mint launched the 2011-W Uncirculated American Silver Eagle for $60.45.
The uncirculated Silver Eagle is reappearing after a two year absence. High demand for the bullion Silver Eagle was listed as the reason for not minting an uncirculated 2009 or 2010-dated strike.
Two different and previously released 2011 American Silver Eagle coins have been selling extremely well. The United States Mint's network of [...]
US Mint Trims Collector Gold Coin Prices
The United States Mint on Wednesday cut prices for its range of collector gold coin products, marking the second straight week it adjusted prices on them.
The Mint uses a coin pricing system which predominantly relies on a weekly average of gold -- from the previous Thursday to current Wednesday, and how that fits into a ranged grid of prices [...]
Shireman Collection of Barber Halves, PCGS Mobile CoinFacts at ANA Pittsburgh...
Collectors attending the American Numismatic Association National Money Show in Pittsburgh, October 13 - 15, 2011, will be able to view the number one collection in the PCGS Set Registry(SM) of Barber half dollars with major varieties (circulation strikes, 1892 - 1915). The set will be displayed at the Professional Coin Grading Service booth, #134.
"We heard excellent comments from collectors and dealers when the set was displayed at the September Long Beach Expo. The display in Pittsburgh will be only the third time this impressive collection has ever been publicly exhibited," said Don Willis, President of PCGS, a division of Collectors Universe (Nasdaq: CLCT).
"The set now has a weighted grade point average of 67.057. It was assembled over decades by [...]
Gold Prices Fall Back 0.2%, Silver Retreats 1.6%
U.S. gold prices dipped slightly Wednesday as investors turned their attention toward riskier bets in stocks.
"Some investors may be pulling back from gold due to its high volatility, which may act to undermine its safe haven status," Reuters quoted James Steel, chief commodity strategist at HSBC. "A sharp decline in lease rates over the past two days is theoretically bearish gold as holders seek to use bullion holdings to raise cash."
Gold prices declined $3.60, or 0.2 percent, to settle at $1,826.50 an ounce in the December futures contract on the [...]
US Mint Sales: Numismatic Products Slow, Silver Coins Stand Out
Fewer dollars were spent on numismatic products last week, United States Mint sales figures reveal. While the previous sales report boasted 80 numismatic products that had outperformed their previous weekly gains, just 11 managed the feat in the latest report. 4 actually had their totals trimmed.
One of the silver coins with its sales total cut was the Grand Canyon National Park Five Ounce Silver Uncirculated Coin. It dropped 52 to 27,831. Having been released June 29 and selling out August 31 with a total over its announced 27,000 mintage, further reductions are expected [...]
In The Lead – The Price of Friendship
Gold prices dipped once again overnight and this morning after trying to mount an assault on the mid-$1,800s on Tuesday.
The yellow metal was not alone in losing value; silver and the noble metals plus a host of other commodities from crude oil to copper also sold off as fears that the still-lingering eurozone crisis and slowing Asian regional growth will end up impacting demand for them.
The entire complex has been buffeted by incessant volatility and indecision rules the day for yet another session. Just yesterday crude oil touched a six-week high after [...]
Royal Australian Mint Releases 2012 Numismatic Product Schedule and Pre-Order Program
The Royal Australian Mint has published its numismatic product schedule for calendar year 2012 which covers its range of product releases from September 2011 through to August 2012. The Mint also released a video describing several of the offerings.
Additionally, the Royal Australian Mint launched a new program entitled "Collection by Selection" where collectors can use a simple order form to pre-order and pre-pay for upcoming products, thereby locking in prices. Collection by Selection orders are automatically shipped when a selected product is released, and ahead of other normal orders [...]
Sedwick Coin Auction #10 Features Brazil, Serro Frio Gold Ingot #114
Daniel Frank Sedwick, LLC will offer a rare Brazil, Serro Frio gold ingot #114, Dom Pedro II, 1832, with original guia, plated in Prober, in the Treasure and World Coin Auction #10 held October 25-26, 2011.
The pseudo-monetary gold ingots of Brazil, made from 1778 to 1833, are among the rarest items of South American numismatics. They are comparable to the U.S. pioneer gold issues of the California Gold Rush of 1848--1855, as they were made from natural gold that merchants and prospectors brought in to official foundries for testing, smelting, marking and taxation. [...]
