by Greg Reynolds for CoinLink

On April 15, B&M auctioned an excellent group of Buffalo Nickels. The core of the offering was a selection of gem quality pieces from the Colorado collection of Buffalo Nickels, which was one of the finest collections of Buffaloes ever assembled. These nickels were ‘off the market’ for many years.

Most of the Buffalo Nickels in the B&M sale were not from the Colorado collection. The following NGC graded MS-66 nickels were from the Colorado collection: a 1918-S, a 1919-S, a 1923-S, a 1926-S, and a 1927-S. NGC graders awarded both the 1926-S and the 1927-S a star for eye appeal. These will be discussed below. Additionally, the NGC graded MS-66 1925-D in this auction is not from the Colorado collection, and the PCGS graded MS-65 1925-D is from the Colorado collection.

In all my years of reporting on coin auctions, it never occurred to me that a 1926-S Buffalo Nickel would ever realize more than $300,000! I was astounded that the Colorado 1926-S in this auction sold for $322,000!

To provide an idea of the reasons why certain Buffalo Nickels are worth great sums, it is necessary to discuss the relative scarcity of certain dates, and to mention some factors involved in completing sets of Buffalo Nickels in high grades. It will also be helpful to mention some past prices. One implication is that the $276,000 price for the 1916 “Doubled Die” Buffalo, in this auction, is not surprising. (more…)

LONDON: Investment money flooding into silver has overwhelmed poor fundamentals and helped it to outperform gold, but the tide could be turning for precious metals and the probability of large losses is rising.

Silver’s price declines in percentage terms is likely to dwarf those seen in gold, which some fund managers say has stronger supply-demand fundamentals.

“History shows that when you get a substantial correction in precious metals, silver falls more than gold,” said Stephen Briggs, an analyst at Société Générale. “It’s a more volatile market and smaller in value terms.”

One big reason behind soaring metals prices has been the tumbling dollar, making commodities priced in dollars less expensive for holders of other currencies. The weak dollar also prompts producers to raise prices to protect profit margins.

Last week the dollar fell to a record low against the euro - with the euro rising beyond $1.60, an event that has caused many investors to question whether the dollar’s declines will continue, or if it has reached a bottom.

Read Full Article from the International Herald

OTTAWA, ONTARIO - In 2007, the Royal Canadian Mint recorded an unprecedented profit of $30.7 million, almost double the previous year’s figure. Throughout the year, it also leveraged its innovation advantage, strengthened strategic partnerships and positioned itself for future growth in the global marketplace.

“The past year was one of remarkable accomplishment for the Mint, and this success can be attributed to the dedication and commitment of each and every employee of the Corporation,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint. “As we move forward, we will invest in our infrastructure, our world-renowned technology and in our employees – all of which will ensure our path to continued success.”

Achievements for the Royal Canadian Mint in 2007 included:

An increase in revenue to $632.1 million;

The production of 1.937 billion Canadian circulation coins;

The expansion of the coin recycling program in Ontario and Quebec;

As an Official Supporter of the Vancouver 2010 Olympic and Paralympic Winter Games, the launch of the first five circulation coins of its extensive Olympic commemorative coin program; (more…)

Heritage Currency Auction Contributes $14.2 Million toward $44 Million CSNS Event

Dallas, TX. The Official Currency Auction of the Central States Numismatic Society convention, held by Heritage Auction Galleries, realized $14,164,504, the largest currency auction ever, and the final total will be even higher after Post Auction Buys are concluded. Combining the rare coin and currency results, total prices realized at Central States currently exceed $44.4 million. More than 6,700 bidders participated in Heritage’s Signature events, and another 3,000-plus bid in the Final Sessions. The auctions were held in Rosemont, Illinois on April 16-18; Images, descriptions, and prices realized for all lots can be viewed at the Heritage website, HA.com.

“This was our largest Heritage currency auction ever,” enthused Allen Mincho, “surpassing even our fabled Taylor Family Collection auction in February of 2005. We were incredibly pleased with the results at Central States, but even more astonishing was the bidder participation. We have never seen so many bids placed through every means. On many lots, we would open and ten cards would shoot up in the room, and they would be competing against three bidders on the telephone and two more on Heritage Live. The bidding on many lots was so intense - and sustained - that they took ten minutes to sell! Many of the dealers present expressed their astonishment.

“As we expected,” concluded Len Glazer, “the market is continuing to react most strongly when rarity and quality are combined, but either one of those elements was sufficient to inspire spirited bidding. This was our best Central States Currency auction ever, and we are looking forward to our September auction in Long Beach.”

Highlights from Heritage’s Rosemont Central States Currency Signature Auction: (more…)