Gold is going nowhere. Dollar-priced bullion, a traditional haven for investors in times of turmoil, is lagging behind U.S. Treasuries. The metal is stuck at about $670 an ounce in London, up less than 1 percent since July 16, when stocks started to tumble.

It should be the best of times for investors in the metal. The dollar has weakened 3.4 percent against the euro this year. The Federal Reserve says inflation remains the “predominant risk” to the economy. Commodity prices, as measured by the UBS Bloomberg CMCI index, are heading for a sixth straight annual gain.

A unique gold coin valued at $2.5 million will be on exhibit at the Whitman Coin and Collectibles Atlanta Expo, October 11-13. It is the 1854 Kellogg & Co. $20 gold piece personally owned by Augustus Humbert, United States Assayer of Gold—America’s finest-known Territorial gold coin.

There were three distinct periods of private gold coinage in Gold Rush California, and the firm of John Glover Kellogg was active during the third and final period. A former employee of the United States Assay Office under Moffat & Co. and Curtis, Perry and Ward, Kellogg opened his own firm on December 14, 1853. The Assay Office ceased operations the same day so that its facilities could be converted to house the new San Francisco Mint. Immediately upon its founding, Kellogg & Co. received the endorsement of Curtis, Perry, and Augustus Humbert. The latter gentleman was United States Assayer for California, and he later served as one of Kellogg’s business associates. (more…)

Renowned for innovative coin manufacturing, The Perth Mint has broken the mould once again with the world’s first ‘orbital’ coin.

Commemorating the 50th anniversary of Sputnik, the reverse of the new coin portrays the famous satellite, which on 4 October 1957 became the first man-made object to leave Earth’s atmosphere.

The coloured illustration of Sputnik, however, is no ordinary, static image. As a result of the coin’s unique construction, it literally revolves around a representation of the world.

Struck by The Perth Mint from 1oz of 99.9% pure silver in proof quality with a brass core, the coin is coated with a transparent wear-resistant finish, instead of being housed in a capsule. This allows collectors to manually activate the coin’s ‘revolutionary’ design, without contaminating its proof quality. (more…)

Over the past few months there has been increasing concern voiced by U.S. Mint officials that the cost to make a cent piece exceeds the face value, despite the fact that the basic ingredient is zinc. The price of metals on the international market has gone up in the past few years, making both the cent and nickel endangered coins.

This is by no means the first time that rising metal prices have threatened the coinage of certain denominations. As early as the 1790s the infant Mint had to contend with the price of copper when setting the weights for the cent and half cent.