GDP: Great Day to Play

Good Day,

Friday’s market sessions in precious metals started off on a tamer note, following the best gains in gold in three weeks. Explanations follow. The recapture of the $1045 area is noteworthy, although analysts we polled during the wee hours overseas are trying to define the move as everything from a ‘one-hit wonder’ to the ‘re-ignition of what we saw during most of October.’

The Bloomberg weekly survey foresees weaker gold prices come next week - not by a large margin (57% bearish)- but still focusing on a potential comeback by the US currency, the early signs of which became visible this past Monday. Demand for the yellow metal once again slipped away in India, following signs of life during the earlier part of the week when values came close to $1025 per ounce. The country recorded its sixth straight month of declining gold imports, despite a decent gain during September – in anticipation of festival-related sales.

New York spot dealings opened with a $2.60 loss in gold bullion, which was quoted at $1043.20 bid, as against a euro-dollar seen at $1.4798 and the USD index steady-to-higher, at 76.05, with little in the way of fresh news thus far this morning. Oil prices gave back about 50 cents of their whopper-sized Thursday gains, slipping to $79.32 per barrel. Risk traders took a latte break this morning, and this gave the dollar a moment to try to re-group.

(…)
Read the rest of Gold, Silver, Metal Prices: Commentary – 10/30/2009 (2,324 words)

President Obama on Thursday signed the Girl Scout Commemorative Coin Act into law, authorizing the Untied States Mint to strike up to 350,000 silver dollar coins to honor the 100th anniversary of the establishment of the Girl Scouts of the United States of America (GSUSA).

The coins will be minted and sold in 2013, marking the end of Girl Scouts’ yearlong centennial celebration and kicking off a new century of leadership and service to girls.

The bill, H.R. 621, was introduced by Rep. Jack Kingston and easily passed by a voice vote on Oct. 13. Sen. Susan Collins sponsored a companion bill, S. 451. Instead of moving that forward, the Senate simply passed the House version on Oct. 19 by Unanimous Consent.

President Obama signed the bill at 3:15 p.m. ET during a ceremony at the White House that included Connie L. Lindsey, GSUSA National Board Chair, Laurie Westley, Senior Vice President, Public Policy, Advocacy & the Research Institute, and girls from the Girl Scout Council of the Nation’s Capital.

(…)
Read the rest of Girl Scout Commemorative Coin Act is Law (313 words)

Gold and other precious metals spiked Thursday, as did crude oil and US stocks following a report by the Commerce Department saying the economy expanded at a 3.5 percent annualized pace in the third quarter. Gold’s rise broke a losing streak that had extended to five days. The Dow and S&P enjoyed their best one-day jumps in three months.

New York bullion figures follow:

• Silver for December delivery jumped 41.5 cents, or 2.6 percent, to $16.655 an ounce. It ranged from $16.12 to $16.71.

• Gold for December delivery advanced $16.60, or 1.6 percent, to $1,047.10 an ounce. The yellow metal ranged from $1,048.40 to $1,026.90.

• January platinum surged $31.30, or 2.4 percent, to $1,338.20 an ounce.

(…)
Read the rest of Gold, Silver and US Stocks Rally (2,395 words)

Today at noon ET the United States Mint began selling the 2009 American Buffalo Gold Proof Coin for $1,360.00, as it announced on Oct. 22.

The one-ounce .9999 fine (24 karat) gold coin is expected to draw significant attention. The US Mint handled early demand in improved fashion compared to the collector blitz and resulting problems that brought its web site down just a few weeks ago with the release of another product, the Lincoln Coin and Chronicles Set.

While there were initial reports of several minute online order delays, that appeared to be the extent of any issue. Phone lines were busy. Some collectors indicated that it took dozens of minutes to get through to a Mint customer service representative, but again, it was unlike their experience of weeks back where there were reports of over an hour of delay and repeated "call back" messages. The Mint added an extra menu option that routed customers to a different queue and standby waiting list, which may have helped.

The Mint’s handling of the Buffalo Gold proof orders on opening day indicates they made improvements, but demand may also have been less intense. The $1,360.00 price point certainly held some customers at bay — especially when considering that gold prices have been dropping for several days and the coins missed out on a $50 price cut by a mere 28.8 cents. (See 28.8 Cents Prevents US Mint Gold Coin Price Reductions.) Many may try and wait for such a cut next week, despite the possibility that the coins could sell out — the Mint has not indicated how many are available, and there are no order limits in place.

(…)
Read the rest of 2009 American Buffalo Gold Proof Coin Launches with Little Issues (253 words)

US Mint sales numbers are often mixed when it comes to silver related collector products — demand for coins in one hand rise while those in the other decline, metaphorically speaking. October has been different. Silver coins have trended up or down as a group without the mixing.

(…)
Read the rest of US Mint Silver Coins Cool, Bullion Eagles Near 23M (366 words)

© Silver Coins Today for Silver Coins Today, 2009. |
Permalink |
No comment |
Add to
del.icio.us

Post tags: Silver Coins, U.S. Silver Coins

The World Wide Fund for Nature (WWF) was started nearly 50 years ago in Europe with a mission to conserve nature. Over the years, the organization has grown world-wide and now directs millions of dollars annually toward nature preservation.

To help draw attention to the work of the WWF, The Royal Mint of the United Kingdom has created the WWF Silver Medal Set. The collection is limited to only 2,000 sets worldwide and comes housed in a beautiful presentation case with an illustrated booklet and a certificate of authenticity.

Each of the six medals features a different species protected by the WWF as well as an extract of a quotation from one of the organizations founders, Max Nicholson:

‘WWF is not just about saving whales and tigers and rainforests,and preventing pollution and waste, but is inescapably concerned with the future conduct, welfare and happiness and indeed survival of mankind on this planet.’

The medals are struck to proof condition from .925 sterling silver with a weight of 28.28 grams and a diameter of 38.45 mm. The Royal Mint Engraving Team designed the collection to showcase the following creatures:

(…)
Read the rest of WWF Silver Medal Set Issued by The Royal Mint (333 words)

© Darrin Lee Unser for Silver Coins Today, 2009. |
Permalink |
No comment |
Add to
del.icio.us

Post tags: Silver Medals, UK Silver Coins

The Austrian Mint has just released their product schedule (known to them as an Issuing Programme) for the year 2010.

The coin schedule includes many coins that collectors should find nearly irresistible, given the spectacular designs the Mint has become known for from around world.

Several of the new issues will be continuations of series started in previous years and one will be the very first coin of a new series.

For reference, here is an image of the provided 2010 coin product schedule (click image to enlarge):

(…)
Read the rest of Austrian Mint 2010 Coin Product Schedule (1,058 words)

© Silver Coins Today for Silver Coins Today, 2009. |
Permalink |
No comment |
Add to
del.icio.us

Post tags: Silver Coins

US Mint collector coins moved like molasses when compared to sales figures of two weeks ago. But bullion coins — especially gold — still had a little swagger in their step. October will be a robust month for American Eagles and American Buffalos.

These and other highlights follow:

• UHR Double Eagles took a significant hit, rising sadly by only 562. Since they went on sale Jan. 22, there has been one single instance when weekly sales were lower. The reason? Gold has been on a five day losing streak, which started last Thursday. It makes sense for collectors to be cautious in buying with expectations of a $50 price decline. We missed that reduction by just 28.8 cents.

• In the Lincoln category, the Chronicles sets were taken off standby status last week with the max 50,000 officially allocated. Lincoln Cent Proof Sets climbed by 4,900, which was less than half of the prior 10,921 increase.

• 2009 US Mint and US Mint Proof Sets were the biggest unit gainers, rising 21,826 and 22,613 respectively. The proof sets were actually up a tad bit. Not so for the mint sets which previously climbed by 74,474. The 500,000 milestone is still nearly 11K away.

• (…)
  Read the rest of US Mint Sales: Bullion Robust, Collector Coins Retreat (1,143 words)

  ---

  © CoinNews.net for Coin News, 2009. |
  Permalink |
  No comment |
  Want more on these topics? Browse the archive of posts filed under Coin or Numismatic News, Featured Coin News Articles, First Spouse Gold Coins and Medals, Mint Sales Figures, Presidential Dollar, United States Mint News and Information.

  

The price of gold has been on a five-day price slide, but ironically the timing of the decline was slightly off in helping collectors pay less for US Mint gold collector coins.

The US Mint uses a London Fix weekly gold average to determine whether to keep gold coin prices the same, or adjust them up or down. The average came in 28.8 cents higher than the threshold needed to cause a reduction of UHR Gold Double Eagles by $50, First Spouse Gold Coins by $25, and 2009 Gold Buffalo Proof Coins by $50.

The Buffalos go on sale Thursday at noon ET. Since the London Fix five day average is $1,050.278, the coins will launch with a price tag of $1,360.00. Had the average been at or below $1,049.99, the coin would have been released at $1,310.00.

(…)
Read the rest of 28.8 Cents Prevents US Mint Gold Coin Price Reductions (139 words)

IRVINE, Calif. – Spectrum Numismatics International, Inc., one of the world’s largest rare coin and currency dealers, announced today that it has hired Richard Melamed as their Senior Numismatist.

"Richard Melamed is one of the most respected numismatists in the industry.  During his 36-year career, Melamed has done everything from running his own coin business to grading for Professional Coin Grading Service, to working for the largest names in numismatics.  His commitment to excellence will contribute to Spectrum’s continued growth as an internationally recognized pre-eminent rare coin and currency dealer," said Andrew Glassman, President of Spectrum.

"I am excited to take on this new challenge and add to Spectrum’s expansion," commented Melamed.  "

(…)
Read the rest of Spectrum Numismatics International, Inc. Names New Senior Numismatist (80 words)