Gold Shoots Above $1,666, Silver Prices Soar 4.2%
U.S. gold closed above $1,666 an ounce and to another record for a second straight day on Wednesday as safe-haven demand pushed it and silver prices higher.
December gold prices rose $21.80, or 1.3 percent, to $1,666.30 an ounce on the Comex in New York. Gold traded between $1,654.40 and $1,675.90. The yellow metal has advanced $44.60 since Monday [...]
July 2011 Sales of American Gold Eagle Bullion Coins Rise
More ounces of American Gold Eagle bullion coins left United States Mint doors in July 2011 than during the previous month, owing to a greater exodus of the largest one-ounce version. Last month was one of the better July's in the 22-karat gold coins' history.
However, and to the negatives with a backdrop kept in mind in which gold prices surged 8.5 percent in July to hit several records, Gold Eagle sales were not superb when compared against other recent months. The monthly pace was the second slowest in 2011. Also, in comparing similar time frames, total sales remained significantly lower than levels from the same period in 2010 and 2009 [...]
July 2011 Sales of American Eagle Silver Bullion Coins Retreat
Investors purchased fewer American Eagle Silver bullion coins in July 2011 as compared to June, but a slowdown is typical for this time of year.
In fact, July has been slower than June for seven of the last ten years. This time the difference was 434,000. Still, the month ended with the second best July total ever and ranked 14th in all-time monthly sales, dating back to the series launch in 1986.
2,968,000 of the 99.9% pure silver coins were ordered last month from the United States Mint, according to the [...]
In The Lead – Stall Warning
Precious metals dealings once again opened mixed in New York, with gold and silver still free from the effects of any profit-taking gravitational pull and with the noble metals exhibiting the opposite condition.
Spot gold traded at $1,666.60 per ounce (a gain of $6.50) following an overnight vault to nearly $1,675.00 the ounce overseas.
Casting aside the non-default of the US, and the maintenance of the AAA rating of the US by both Fitch's and Moody's, gold specs set out to do that which would have logically been the case in the event the worst had come to pass as a result of Washington's debt wrangling circus [...]
Gold Prices Jump Nearly $23 to Fresh Record, Silver Rallies 2%
U.S. gold futures surged Tuesday as a worrisome economic outlook ignited safe-haven demand and drove gold prices to a fresh all-time record high.
December gold prices rose $22.80, or 1.4 percent, to $1,644.50 an ounce on the Comex in New York. Gold prices ranged from a low of $1,618.80 to a high of $1,646.80.
"The flight-to-quality money is flowing into gold... There's a lot of uncertainty about the global economic recovery [...]
US Mint Eliminates Credit Card Purchases in $1 Coin Direct Ship...
The United States Mint has once again altered its circulating $1 Coin Direct Ship Program in response to continued "abuses" of the system. Effective as of July 22, 2011 the Mint no longer accepts credit and debit cards for any transactions relating to the Direct Ship Program.
Consumers prefer to use paper money over heavier coins in daily transactions, which has stunted $1 coin circulation. The United States Mint established the Direct Ship Program over three years ago as a method of seeding $1 coins into circulation. Using it, participants are able to order large quantities of [...]
In The Lead – Casino Royale
The second day of trading action for August opened in somewhat of an... inverse fashion as the one on Monday had; namely, gold and silver notched hefty gains while platinum and palladium did not.
New York spot dealings started off with a $13.80 per ounce rise in gold (at $1,634.10 on the bid) and with a 57-cent climb in silver (at $39.81). Platinum and palladium on the other hand soon stalled out at what appears to be near-term resistance around the $1,800 and the $830 mark respectively [...]
PCGS Will Host, Sponsor Rare Coin Exhibits at ANA’s Chicago ...
Professional Coin Grading Service will sponsor a wide range of amazing exhibits and informative presentations at the American Numismatic Association's Chicago World's Fair of Money, August 16 - 20, 2011.
The eagerly anticipated exhibit will in Hall F of the Donald E. Stephens Convention Center, 5555 N. River Rd. in Rosemont, IL, site of the big ANA convention.
"PCGS will host or co-sponsor exhibits showcasing some of the world's most famous rare coins, including the 1849 and 1933 Double Eagles from the Smithsonian's National Numismatic Collection," said Don Willis, President of PCGS, a division of Collectors Universe, Inc. [...]
Gold Falls from Record, Silver Prices Drop 2%
U.S. gold futures declined Monday, falling from a record close as lawmakers moved toward a debt deal and despite a bounce initially received after a report showed poor activity in the manufacturing sector.
December gold prices declined $9.50, or 0.6 percent, to close at $1,621.70 an ounce on the Comex in New York. Gold traded between an intraday low of $1,608.20 and a high of $1,634.50. Gold settled to a record on Friday at $1,631.20 an ounce, lifting its gain in July to $128.40 [...]
Rare Proof and Experimental Coins Lead Heritage’s U.S. Coin & Platinum...
Early U.S. coinage experiments and rare proof strikings are among the top highlights of Heritage Auctions' Aug. 11-12 Chicago Signature® U.S. Coins & Platinum Night Auction, at the Chicago Marriott O'Hare.
"The front cover of our Platinum Night catalog, our collection of the 'best of the best' in this auction, has three key coins on it," said Greg Rohan, President of Heritage. "One is a great early pattern, and two are rare proof coins in gold. Of course, there are many more highlights than just those, but the three coins really stood out and captured the overall strength of the event." [...]
