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Coin News Daily August 20 2008

Additional Coin Collecting News from across the web presented by CoinLink

Gold – A Fabrication Bottleneck or Something More

The Internet is abuzz with reports that precious metal dealers have stopped selling coins and small bars because they have run out of inventory. For example, Franklin Sanders reports on that his inability to purchase product from his suppliers is something that he has never seen before in his “twenty-eight years of brokering silver and gold.” On Friday afternoon, Kitco posted the following notice: “Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products.”
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In Memory of Jack Lee ….

I write tonight’s blog with a very heavy heart. I was traveling out of the country over the weekend when I heard that my dear friend, Jack Lee, had passed away. Jack has been well known in numismatic circles these past two decades, primarily for the famous Silver dollar collections he assembled.
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PCGS Removes Fake Coins, Dies From Market

As part of its consumer protection measures, Professional Coin Grading Service (PCGS) has purchased a half dozen coinage dies used to produce counterfeit Chinese coins. The dies will be displayed by PCGS at the Long Beach, California Coin, Stamp and Collectibles Expo, September 18 – 20, 2008, along with numerous counterfeit Chinese coins. The dies and coins were purchased through an on-line auction from a seller based in China.
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Giant Gold Panda in Ponterio #147

Ponterio & Associates always offer a wide selection of numismatic material in their auctions and the upcoming Beverly Hills sale #147 set for September 16 & 17 of this year is no exception.
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Drop offers opportunity

Gold, silver and platinum prices fell substantially during the end of July and beginning of August. In fact, the prices all reached their lowest points of 2008, with gold nearing the $800 per ounce mark, silver falling below $15 per ounce and platinum falling below $1,500 per ounce. Highs this year – reached in March – were about $1,011, $20.92 and $2,273, respectively.
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Medieval Slovak mint strikes first euro coins

KREMNICA, Slovakia (Reuters Life!) – Nestled within the walls of a medieval castle in Slovakia, a 700-year-old mint that once stamped coinage with the faces of European kings and queens produced its first euro coins on Tuesday.
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U.S. Mint picks Austin for promotion of dollar coin”

This trend-setting Hill Country city is one of four communities nationwide that will heavily promote the new $1 coin, a gold-colored alternative to the dollar bill that the government hopes will save money on, well, money.
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