National Gold to stay with Ch. 11, Yaffe wants to keep control
Tampa Bay Business Journal
A Tampa bankruptcy judge Monday voiced deep concern about National Gold Exchange’s management after a daylong evidentiary hearing but denied a motion to convert the company’s Chapter 11 reorganization to Chapter 7 liquidation. “Evidence of misconduct and mismangement is substantial,” said Middle District Bankruptcy Judge Michael Williamson, adding there are “ample grounds” to convert the case to liquidation.
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Rehberg: Mint coin from palladium
The Missoulian (Montana)
U.S. Rep. Denny Rehberg has introduced a bill to mint a coin out of palladium, which is mined exclusively in the United States by Montana’s Stillwater Mining Co. The bill would require the U.S. Treasury to mint a reproduction of a 1907 bullion coin. Rehberg, R-Mont., said the coin will increase demand for palladium and give a boost to Stillwater, which recently lost its metals supply contract with General Motors.
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U.K. Royal Mint Doubles Gold Output as Demand Swells
Bloomberg
The U.K.’s Royal Mint, established in the 13th century, doubled production of gold coins in the second quarter as demand surged for bullion to diversify investments. Output climbed to 16,910 ounces from 8,030 ounces a year earlier, according to data obtained by Bloomberg News under a Freedom of Information Act request.
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Bulgaria Archeologists Find Unused Byzantine Coins
Novinite
Bulgarian archeologists have found unused coins with picture of the Byzantine emperor Basil II, later surnamed the Bulgar-slayer. The finding has been made by the team of the Dr.Krasimir Leshtakov near the village of Yabalkovo, in the Southern Dimitrovgrad municipality. The two coins had never been used, which preserved them in perfect condition. Basil the Bulgar-slayer is pictured with his son, and the coins are dated back to the first half of the eleventh century.
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Gold Price Suppression Efforts Weakening
By Patrick A. Heller, Market Update
Last week was a perfect example of the efforts by the U.S. government and its central bank and private trading partners to manipulate the price of gold downward. From the perspective of the U.S. government, several events occurred where there was a need for the U.S. dollar to appear strong and, consequently, for the price of gold to look weak. First, the U.S. government had over $200 billion of debt to sell, one of the largest weekly totals in history.
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Top 10 Things You Didn’t Know About the Penny
Time Magazine
Aug. 2, 2009, marks the 100th anniversary of the Lincoln penny, the longest-running U.S. coin still in circulation. The U.S. Mint had been producing one-cent coins since its founding in 1792, but the 1909 penny (which replaced the Indian-head coin) was the first coin on which a President’s likeness appeared.
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4. Coin News Daily October 1, 2008
5. Coin News Daily September 26, 2008
6. Coin News Daily February 23 2009
7. Coin News Daily May 26, 2009
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