In the past 12 months, the price of gold has risen more than 30%, prompting Americans to take advantage of the value of gold and other precious metals and add physical gold to their Individual Retirement Account (IRA) portfolio. CGE states that the process is easier than most consumers realize, and the addition of precious metals is a vital addition to retirement accounts loaded with paper assets such as stocks and bonds.

Following the passing of the Tax Payer Relief Act in 1997, Individual Retirement Account (IRA) holders are now able to include gold and other precious metals as portfolio holdings. Given the recession proof nature of gold, and its staggering per ounce gains over the last 365 days of more than 30%, CGE reports that many Americans have added gold to their IRA account as a way to achieve proper investment diversification.

Following the adoption of the gold standard by the United States, President Roosevelt banned gold exporting in 1933, and a year later fixed the price of gold at $35 per troy ounce, where it stayed until March 15, 1968. When US banks finally did away with the fixed price of gold in 1968, and gold pricing began to float freely on the open market, the per troy ounce price of gold rose to more than $120 within a five year period. In 1973, the ban was lifted and individuals were allowed to own gold. This move started a new trend in American investing and portfolio diversification, which also led to the inception of gold back IRAs. (more…)

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), the world leader in deep ocean shipwreck exploration, has granted Primetime Emmy® Award-winning JWM Productions exclusive access to film Odyssey’s 2008 Atlas Search expeditions to produce a shipwreck exploration television series. Discovery Channel expects to premiere the 11-part High Definition (HD) series to worldwide audiences in 2009. Production is slated to begin immediately.

“We have the most experienced team of shipwreck explorers in the world manning our ships, and on a regular basis they make amazing discoveries in the deep ocean - things that have never before been seen by human eyes. We’re proud of the exploration and archaeological work our team accomplishes in the challenging offshore environment, and for a long time we’ve been looking for the right format to share the excitement of our expeditions with viewers around the world,” stated Greg Stemm, Odyssey’s Chief Executive Officer.

“JWM has a proven track record of producing smart, compelling television and Discovery Channel is the #1 media and television brand in overall quality for the eighth straight year. We’re sure that Discovery’s viewers will enjoy ‘being there’ during our shipwreck search and exploration expeditions,” Stemm continued. (more…)

When reviewing upcoming auctions, one of the things we like to look for are the more unusual items, the coins that surprise you and say “I didn’t know that!”

In the upcoming Heritage Signature Sale of The Ellsworth Collection (May 29th) we found the following 1795 Double Error Half Cent.

Below is the auction catalog Description:

This is a stunning and spectacular double error, either of which would be extremely important in its own right. The substantial curved clip is positioned at 4 o’clock. This clip is larger than any we recall seeing on a half cent of any date, let alone this 18th century date. Similarly, the off-center strike, positioned to 9 o’clock, is further off-center than we recall on any other examples. The combination is nothing short of amazing.

Any combination of two or more error types on a single coin essentially makes that coin unique. It is completely unreasonable to think that another identical error combination could have been produced, unless someone at the Mint was making these intentionally, and during the 1790s, that was probably not the case.

The surfaces are lightly corroded. The obverse has charcoal-brown and deep green color, with mostly deep green on the reverse. A few old obverse scratches are so nicely blended with the rest of the coin that they are not immediately obvious. EAC 12.

(New Iberia, Louisiana) - A recent close examination of coins recovered a year ago from the 1846 Gulf of Mexico shipwreck of the SS New York has revealed some of the finest known Southern branch mint gold coins and a nearly complete set of Bust half dollars.

The New York was a side-wheel steamer that foundered during a hurricane about 60 miles off the coast of Cameron, Louisiana in 1846. Four New Iberia, Louisiana area residents found the 365-ton wooden hull ship in about 60 feet of water two years ago. The four, who call their recovery operation, “Gentlemen of Fortune,” are Gary and Reneè Hebert, Avery Munson and Craig DeRouen.

“We brought up the ship’s bell in the summer of 2006, staked a claim and obtained a federal court judgment granting us title to the site, then brought up several hundred coins from the underwater mud last year. We recently sent them to Numismatic Conservation Services and Numismatic Guaranty Corporation for certification,” said DeRouen.

“This is the most important group of Southern gold coins ever found on a treasure ship. There are some of the finest known Quarter Eagles and Half Eagles struck in Charlotte and Dahlonega, as well as examples of gold coins struck at the New Orleans Mint,” stated prominent numismatic researcher and author Q. David Bowers, co-chairman of Stack’s Rare Coins in New York City and Wolfeboro, New Hampshire.

“The recovered coins are worth more than $1 million,” said dealer John Albanese of Far Hills, New Jersey who recently appraised them.

“They include an 1845-D $2.50 graded NGC MS-64; 1844-D $5 graded NGC MS-63* prooflike; and an 1844-O $5 graded NGC MS-64. There’s also a nearly complete set of Capped Bust halves with over two dozen different dates including an 1815, and quite a few foreign gold coins as well,” said Albanese. (more…)