All the 6000 medals for the 2008 Olympics Games have arrived in the capital from the Shanghai Mint, ready for their debut on August 8. For the first time in Olympic history, the medals for the Beijing Games blend metal and jade.

Inlaying jade

The Shanghai Mint, under the China Banknote Printing and Minting Corp, works mainly in casting metal coins for circulation, and precious metal badges. It is the provider not only of the medals for the Olympic Games and Paralympics, but also of the medals for demonstration events, and commemoration badges.

For the first time in Olympic history, the medals for the Beijing Games blend metal and jade. The technology of inlaying jade into metal can be dated back to the Han Dynasty almost 2000 years ago.

Blending metal and jade is a new technique in minting coins. It is not easy to bond jade perfectly with metal. The key to the process lies in the inner layer of the medal metal and the groove of the jade ring. A seal ring is put between the inner layer and the groove to join the metal and jade together. The seal can also buffer the effect of vibration to protect the jade against impact.

Working with jade

The Jade ring must be matched with the medal metal, so it must comply with the necessary outer and inner diameters. Jade rings used for casting Olympic medals have been subject to rigorous quality controls, and those not up to the standard have been discarded.

To make use of those jade rings that do meet the quality criteria, metal medals were produced to fit the jade rings, and more than ten different sizes of seal ring were designed. (more…)

Speculators flocked into platinum on Wednesday after prices tumbled to a six-month low the previous day, while gold dropped to its lowest level in seven weeks before bargain hunters resurfaced.

But worries about falling demand for autocatalysts and poor car sales capped gains on platinum. Gold was under pressure from weak oil as well as a rising U.S. dollar, which prompted investors to ditch bullion exchange-traded funds.

Spot platinum hit a high of $1,575 an ounce, up from $1,563.00/1,583.00 late in New York on Tuesday, when it hit an intraday low of $1,517 an ounce, its weakest since January 22.

“Technical wise, it’s oversold. I do believe we will see some relief buying within the next one week,” said William Kwan, bullion director at Gold Capital Management in Singapore.

Platinum prices have taken a dramatic turn since spiking to a record high above $2,000 an ounce in early March, losing much of their gains to profit taking and a slowing U.S. economy that threatens to slash demand for autocatalysts.

“Investors or speculators have entered the market. But at this moment, buying is not big,” said Yukuji Sonoda, analyst at Daiichi Commodities in Tokyo.

Retail investors re-entered Tokyo futures, but there was still an absence of buying interest from jewellers and automakers in Japan, said Sonoda.

“Anyway, platinum prices have decreased so much, so anytime automobile companies change their minds, they will start to buy little by little,” he said.

Palladium, which tracks movements of sister metal platinum, also bounced after sliding to its lowest level in eight months the previous day. (more…)

Additional Coin Collecting News from across the web presented by CoinLink

Gold Coins Lose Shine in 21st Century Gold Rush

Gold coins “stuck in the Seventies” claims gold-trading website BullionVault.com (http://www.bullionvault.com) as private investment in gold surges. Gold is considered a ’safe’ and therefore popular investment in times of economic turmoil. The UK’s currently turbulent economic climate has caused a surge in private investment in gold.
[ Read Full Article]

Special Krugerrands mark the park’s 110th birthday

It is not everyday that a silver medallion is tossed into a river intentionally. Sydney Soundy, chief operating officer of SANParks, performed this symbolic gesture as part of the festivities of the Kruger National Park’s (KNP) 110th birthday celebrations.
[ Read Full Article]

Central States Gives $50,000 to ANA

Central States Numismatic Society has presented a $50,000 gift to the American Numismatic Association to defray the expenses of this year’s ANA Summer Seminar
[ Read Full Article]

Mark Salzberg Receives Abe Kosoff Founders Award from PNG

The Professional Numismatist Guild (PNG) presented the Abe Kosoff Founders Award to NGC Chairman Mark Salzberg at its annual awards banquet. The award is presented to a PNG member who has made a significant contribution to the Guild or to the numismatic fraternity in general the past year.
[ Read Full Article]

Latest Edition of Mint Error News Magazine Available

The latest edition of Mint Error News Magazine, issue #24, is now available for viewing and download. The quarterly magazine is published by Mike Byers and is one of the best resources for collectors who want to know the very latest mint error coin news.
[ Read Full Article]

Editors Note: The following is a list of Gold Trivia that was sent to CoinLink. We have not checked the facts or the source but we thought it was sort of interesting. Let us know if you have any additional items you think should be added to the list.

• Of the 92 natural elements in the earth’s crust, Gold ranks 58th in rarity.
• Every state in the U.S. has some gold deposits.
• If the U.S.’s pile of gold in Ft. Knox (147.3 million troy ounces according to the U.S. Mint) were to back the U.S. M1 money supply on an even basis, the gold would be worth $940 an ounce.
• When gold is legal tender, governments try to regulate or manipulate its value, and that’s always difficult… when Roosevelt raised gold from $20.67 to $35 in 1934, it immediately devalued the dollar by 40%.
• But from 1786 to 1933, the U.S. government only allowed the price of gold to rise from $17.92 to $20.67. A 15% increase in the official price of gold in 141 years. In the same span, U.S. GDP grew about 28,000%. (more…)

Secretary of the Treasury Henry Paulson announced that pursuant to Public Law: 31 U.S.C. § 5112(i)(4) the United States Mint will issue a one-ounce ultra-high relief 24-karat gold coin, creating a 2009 version of what many have called the most beautiful gold piece ever made: the Ultra High Relief Saint-Gaudens $20 Double Eagle.

Aided by advancements in technology, the United States Mint now can produce, in quantity, the ultra high relief coin envisioned, but never fully realized, by renowned sculptor Augustus Saint-Gaudens in 1907.

The mintage of the new coin will be unlimited for one year. Among the production specifications approved by Secretary Paulson are the new coin’s business-strike finish and a diameter of 27 millimeters, making the new collectible coin about 50 percent thicker than other United States Mint one-ounce gold coins.

Only 2009-dated coins will be minted. The coins will go on sale in early 2009, although sales may continue into 2010 if inventory exists.

United States Mint Director Ed Moy will participate in the Opening Ceremony of the American Numismatic Association World’s Fair of Money on Wednesday, July 30, 2008, at 9:30 a.m. ET

Visitors will be able to feel the ultra high relief on plasters of the coin that will be featured at the Ultra High Relief Double Eagle Gold Coin exhibit at the United States Mint booth on the bourse floor at the World’s Fair of Money.

The Obverse: Saint-Gaudens’ Liberty, personified by a statuesque woman striding powerfully forward. Liberty is leading the way with a torch in her front hand and an olive branch in the back hand. The United States Capitol dome is also depicted in the background.

The Reverse & Edge Lettering: A young eagle flying during a sunrise is depicted on the reverse. The motto, “E PLURIBUS UNUM” is on the edge of the coin, allowing a cleaner design on the obverse and reverse.