Calculating the amount of gold sold by world central banks in any given year is not an exact science. Nowhere is the information correlated and made publicly available. While some central banks are happily open about their activities, others are camera-shy. Nevertheless, Gold Fields Mining Services has a shot at it each half year. The results are only estimates, which GFMS admits are garnered through a combination of publicly available information and “field research”. As the release of information can come with a considerable lag, GFMS often updates its numbers through the course of the year.

That’s the first thing to consider.

The second thing to consider is that whatever GFMS comes up with in its estimates, the numbers will always be questioned by an organisation known as GATA. Read Full Story

The new gold rush is on.

As inflation has picked up and the stock market has tumbled, investors seeking a safe haven have piled into gold, driving the metal to all-time highs.

Since mid-August, New York gold futures have risen more than 42%. After finishing down at the early-afternoon close yesterday, they shot above Monday’s record of $927.10 in later electronic trading. The peak occurred after the Federal Reserve cut its target lending rates, which sent the dollar — gold’s big competitor — lower.

Historically, the world’s most enthusiastic buyers of the metal have been catastrophe-fearing “gold bugs” in places like India, where banks aren’t always trusted and currencies can be unstable. Read Full Story

Houston-based Stanford Coins and Bullion announced it has sold the historic 1870-S Seated Liberty Dollar Eliasberg Specimen for $1.3 million to Certified Acceptance Corp. (CAC), a New Jersey- based company founded and owned by John Albanese. Stanford Coins and Bullion, part of the Stanford Financial Group of companies, serves investors in precious metals and collectors of rare collectible coins.

The 1870-S Seated Liberty Dollar Eliasberg Specimen is considered a U.S. numismatic treasure. Shrouded in mystery and intrigue, the Seated Liberty Dollars do not have any official record of ever having been minted, yet somehow 11 traced specimens are believed to exist.

According to Joe Frisard, President of Stanford Coins and Bullion, “The 1870-S Seated Liberty Dollar is a true numismatic rarity. Of the 11 known specimens, only three are in mint condition. The Eliasberg Specimen is graded AU53 by PCGS.” (more…)

In the second part of this series, I reveal my answers to the final question from the Rosen 2007-2008 Crystal Ball survey. There are some very interesting questions asked here and some controversial answers so read on for my insights into the current State of the Market.

Editors Note: Part One of the Survey Can Be Found Here

For the following six (6) questions I ask you for your Best Buy selections in a number of series. Please detail why you made your picks and the potential you see for them.

10. Your Best Buys for U.S. Type Coins.

a. Seated Dimes, Quarters and Half Dollars in Mint State-64 to Mint State-66. I think you will see significant appreciation in this area in the coming year or two.

b. Barber Dimes, Quarter and Half Dollars in MS64 to MS66 and PR64 to PR66. They aren’t the most attractive coins in the world from the standpoint of design but they are very cheap right now. You can buy a pleasing MS65 Barber Dime for less than $500.

c. Gem Trade Dollars. I just never seem to see true MS65 Trade Dollars. Current Bluesheet bid for MS65’s is something like $7,000. They are great deals at double to triple this price.

d. Large Size Bust Dimes and Quarters in just about any grade from VF and up. For every one of these you see, there are about ten Bust Halves. If I were going to start collecting coins I think I’d do a date set of Large Size Bust Dimes and maybe expand it to include all of the Redbook varieties. Most of the dates can be bought in nice VF and EF for less than a few thousand dollars. (more…)