By Mark Ferguson for Coin Values

In the wholesale market for coins, which is dealer-to-dealer trading, some dealers buy and sell coins through electronic trading networks.

The dealers who use these networks regularly post “bid” prices or the prices they are willing to pay for certain coins. Many bid prices are sincere attempts to purchase coins wanted by customers, but others are attempts to buy great bargains if willing sellers are found.

Participating dealers also post on the network “sight-unseen” bids, in dealer parlance, indicating a willingness to accept any coins graded by particular grading services in the grades they are seeking to purchase.

By Richard Giedroyc for Numismaster

Most world coin collectors will sooner or later come into contact with counterfeit coins of the Chinese Empire and from the period of the republic. Coin dealer Stephen Album’s comments on finding these coins for sale in markets throughout the Peoples’ Republic of China have been published in this column in the past.

There are two types of counterfeit coins, contemporary and modern. Contemporary counterfeits are of more interest academically since they were produced to deceive merchants and consumers when spent. Modern counterfeits of collector coins are produced for a different reason, that reason being because coin collectors pay a premium for certain genuine older coins for their collections.

Up until recently, the majority of Chinese counterfeit currently appearing in markets are coins that are modern copies of earlier issues coveted by collectors. Now, however, current legal tender coins of the PRC are being counterfeited as well. And, it appears to be big business.

By Numismaster

Heritage Auction Galleries’ September Long Beach auction of world coins holds an offering of Russian coins and medals, led by a proof example of the 1836 1-1/2 Family ruble.

The coin features the portrait of Nicholas I on the obverse, while the reverse features eight smaller cameos of the imperial family: the bust of Empress Alexandra in the center, surrounded by busts of the royal children with no circles.

The sale will be held Sept. 25-26 at the Long Beach Convention Center.

“The post-1800 Russian rubles are extremely desirable in today’s market, especially the ultra rare family pieces,” said Heritage world coin director Warren Tucker.

LONDON, Sept 4 (Reuters) - Gold hit a three-week high on Tuesday, helped by safe-haven buying and good physical demand, with investors awaiting the release of U.S. economic data that may set bullion’s direction.

Brighter technicals and firm oil also lifted buying. Other metals also gained, with platinum rising to a three-week high and silver rising to its highest level in more than two weeks.

“Gold remains remarkably well bid despite some dollar strength. It is playing a little bit of safe-haven role, physical demand is excellent and production is looking pretty sloppy,” said David Holmes, director of precious metals sales at Dresdner Kleinwort Investment bank.