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All Posts Tagged With: "bullion coins"

Pricing Controversy with New 5 oz. “America the Beautiful” Bullion Coins

The U.S. Mint’s Dec. 1 announcement that the new 2010 America the Beautiful 5-ounce .999 fine silver bullion quarter dollars were to go on sale December 6th was canceled earlier this week over Mint concerns and complaints that the much anticipated coins were being overpriced.

The US mint does not distribute its bullion products directly to the public, but rather uses a network of 11 “Primary Distributors” who purchase the coins from the US Mint at $9.75 over the spot price of silver, and then in turn mostly wholesale these out to retail dealers. Few of these Primary Distributors have retail facilities.

Here is a list of the Primary Distributors:

  • A-Mark Precious Metals
  • Coins ‘N Things Inc.
  • MTB
  • Scotia Mocatta
  • Dillon Gage of Dallas
  • Prudential Securities Inc.
  • The Gold Center
  • American Precious Metals Exchange, Inc. (APMEX)
  • Commerzbank International (Luxembourg)
  • Deutsche Bank A.G. (Germany)
  • Tanaka Kikinzoku Kogyo K.K. (Japan)

As part of the December 1st announcement, the Mint surprisingly drastically reduced the mintage’s for the much anticipated 5 oz  America the Beautiful Bullion coins from an anticipated 100,000 coin  (for each of the 5 designs this year), to a mere 33,000.

After the announcement, APMEX decided to offer the 2010 5 coin set to customers and allow them to pre-order the coins from their website. Apmex is one of the few Primary Distributors that maintains a retail presence  through their website (which is excellent by the way). The 5 coin set was being offered at $1,395.

Obviously with such limited supplies, the large (3 inches in diameter) bullion coins were expected to be in hot demand .

However within hours of this pre-launch offering, complaints started to be registered with the US Mint because Apmex, responding to the anticipated demand and low mintages, had placed a $130.00 premium per coin on the set.

Apmex customers didn’t seem to mind the hefty premiums too much because within 19 hours after the posted  pre-launch offer, they had sold 1000 sets. But the US Mint did mind. In fact they halted the release of the new 5 oz coins to review the situation. (more…)

Low Mintages To Create New Modern Rarities

By Steve RoachThe Rare Coin Market Report Blog

The U.S. Mint’s Dec. 1 announcement that it is placing tighter than expected mintage limits on the new 2010 America the Beautiful 5-ounce .999 fine silver bullion quarter dollars may result in the creation of some new modern rarities.

The large (3 inches in diameter) and undoubtedly impressive coins will surely be in hot demand, especially with such limited supplies.

The bullion issues are made available to authorized dealers who then resell the coins to the market. The mintages are strictly limited to not more than 33,000 of each design – a sharp decline from the 100,000 previously announced. The Mint will charge its distributors $9.75 per coin above the price of silver.

Uncirculated examples will be offered for sale directly to collectors during the first quarter of 2011. With mintage limits of 27,000 per coin, the 2010 issues seem destined to be modern classics, as the coins relate to circulating coins, are likely affordable to many collectors, and are simply big and flashy.

Of course, the long-term demand is largely dependent on whether collectors take to the large silver coins and seek to build sets.

Time will tell about the long-term popularity of these coins, but in the meantime, the lower-than-expected mintages should provide great action for speculators and spectators alike.

The American Eagle silver bullion coins provide a comparison point, having as key to the series the Proof 1995-W American Eagle with a mintage of 30,125 pieces. Examples of that issue regularly sell for $3,000.

Collectors’ difficulties in acquiring Proof 2010-W American Eagle silver bullion coins, with strict 100-coin per household ordering limits, have already created a robust aftermarket for these coins.

On eBay, ready-to-ship examples have been regularly selling for $55.

At least one major market-maker is offering $49 a coin for 100-coin confirmed orders of Proof 2010-W American Eagle silver coins. At an issue price of $45.95, this allows a profit of nearly $300 for dealers, and provides the market-maker a large group of coins to market during the holidays.

Higher premiums don’t seem to hinder demand for Silver American Eagle Coins

By Steve Roach – the Rare Coin Market ReportCoin World

While bullion markets continue their wild fluctuations, demand for American Eagle 1-ounce silver bullion coins remains vibrant.

In October, the United States Mint increased the premium charged to its authorized purchasers for American Eagle silver bullion coins from $1.50 to $2 per coin. The premium was increased in 2009 from $1.40 to $1.50 per coin and in 2008 from $1.25 to $1.40 per coin.

While Proof American Eagle silver coins may be purchased directly from the Mint, the Mint sells the silver bullion coins only to dealers in minimum 25,000-coin shipments.

However, the premium increase seems to have had no noticeable impact on demand, as the Mint has sold more than 30 million silver American Eagles thus far in 2010, eclipsing 2009’s sales record of 28,766,500 pieces.

Surely silver hitting 30-year highs including a flirtation with $29 earlier in November has helped keep demand for the attractive and easily portable silver American Eagles robust. Demand for the coins throughout the holiday gift-giving season will mean that 2010 sales figures will continue to climb.

Proof 2010-W American Eagle silver coins went on sale Nov. 19, priced at $45.95, with a 100-coin household limit.

The Mint’s Web site already warns customers of possible ordering delays on Nov. 19, due to the deluge of customers who are likely to order in light of “unusually high demand.”

Until Proof 2010-W coins enter the marketplace, wholesalers are paying up to $57 for earlier Proof American Eagle silver coins in original Mint packaging.

Grading service population reports show that 2010 American Eagle silver bullion coins are extremely well-produced. Of the 44,160 graded by Professional Coin Grading Service so far this year, a whopping 36,470 pieces have received Mint State 70 grades. Currently PCGS MS-70 2010 silver American Eagles are selling in online auctions for $60 to $100, while certified MS-69 representatives can be found for around $35 and uncertified examples are seen at $30.

In large quantities, 2010 American Eagle silver bullion coins are available from wholesale dealers at silver spot price plus $2.60 per coin.

Gold’s Holding Pattern is a Golden Opportunity

Billionaire George Soros declares: “Conditions for gold are pretty perfect”

Gold’s holding pattern is a gift to bargain hunters

Gold prices stood near the $1,350 range today on news that China’s central bank acted to slow inflation but fell short of raising interest rates outright. Gold’s holding pattern is a gift to bargain hunters because gold “should continue to remain well supported too, both by the growing debt crisis in the euro-zone peripherals, which could spill over to other countries at any time, and the expansion of liquidity on the back of renewed quantitative easing of U.S. monetary policy,” Commerzbank analysts said. Richcomm Global Services’ Pradeep Unni agreed, saying a weak dollar and a firmer euro “will continue to provide a bullish bias to the metal.”

The trend is “back up again”

Gold prices surged back Thursday as the euro rose against the dollar on optimism of a bailout for Ireland. “Having held $1,330, and with the dollar a bit weaker … we are just following the trend back up again,” the Bank of Nova Scotia’s Simon Weeks said. VTB Capital’s Andrey Kryuchenkov noted: “Should fear in the eurozone escalate, gold would draw fresh support from risk-averse buyers similar to what happened earlier this summer when investors scrambled for the safe-haven asset on fears of sovereign default.” Investors also are watching China for potential news of an interest-rate rise, which would only create a buying opportunity for bargain hunters.

Billionaire George Soros tips his hat to gold

With quantitative easing going full-steam ahead and U.S. interest rates low for the foreseeable future, billionaire investor George Soros said the precious metal still has plenty of kick to it. “The conditions for gold are pretty perfect,” he said Monday. Soros also said the present world order is on the brink of breaking down. “There is now a rapid decline of the United States and a rapid rise of China,” he said. “It is happening very quickly. … If they persist in their present course, it will lead to conflict,” he said, adding that China’s neighbors are already getting nervous about its rising global influence. Read more

Inflation surfaces at Walmart, not in feds’ data

Offering up its statistics Wednesday, the Labor Department said the core consumer price index, an inflation indicator that excludes food and energy prices, was unchanged in October. However, a new pricing survey of 86 products sold there – mostly everyday items like food and detergent – showed a “meaningful” 0.6 percent price increase in just the past two months, according to MKM Partners. At that rate, prices would be close to 4 percent higher a year from now, double the Federal Reserve’s mandate. “I suspect that when [Fed Chairman Ben Bernanke] thinks about reflation, he has a difficult time seeing any other asset besides real estate,” said Jim Iuorio of TJM Institutional Services. “Somehow the Fed thinks that if it’s not ‘wage-driven’ inflation then it is somehow unimportant. It’s not unimportant to people who see everything they own (homes) going down in value and everything they need (food and energy) going up in price.” Read more

The Fed sticks to its quantitative-easing guns

Ben Bernanke had to defend the Fed’s actions on Capitol Hill, where he briefed skeptical lawmakers on the QE plan’s merits on Wednesday, and some of his colleagues said the bank is likely to follow through on its entire $600 billion bond-buying program, citing weak economic data. “It looks like we’ll be purchasing at this pace through the end of the second quarter to add up to $600 billion,” St. Louis Federal Reserve Bank President James Bullard said. (more…)

November Baltimore Coin Show and Market Report

By William Shamhart, Jr.  – Numismatic Americana

I can figure a coin deal as quick as anyone. In fact I can sometimes just look at a deal and know that I am going to buy it. That is because I am a coin dealer and have been my entire adult life.
baltimoreNov2010
But writing…that’s a whole other story. I’ve had trouble all my life writing papers from grade school all the way though college. Hence my tardiness in getting this show report to you, our loyal readers.

Christine and I made the trip down to Baltimore on Wednesday afternoon. We had a few appointments set up and promptly got down to business. After looking at a few dealer’s inventory (and finding the same old “tired” pieces), I went to submit our numerous coins for grading to PCGS. (At the end of this show report, and up on our web site shortly, you will find the fruits of this.)

With an opening bell of 8:00 a.m. on Thursday, Christine and I were there bright and early and literally minutes after the doors opened we arrived at our table only to find a client waiting for us. While that was a great way to start the show, sadly it wasn’t going to last. We did some wholesale business from our inventory early on and then proceeded to set up our booth for the “early birds” at 10 and the public at noon. One of the best things about having a client base is that other dealers figure out quickly that you need to buy coins for them, so while neither Christine or I really got to spend a lot of time walking the floor looking for coin to buy, it was nice that there was a steady flow of dealers coming to us, wanting to show us their wares.

Getting to the meat of this report, I will tell you that Baltimore was definitely better than CoinFest, and way better than the Silver Dollar Expo a few weeks earlier. There are many more “collectors” in Baltimore than the aforementioned shows, and while they didn’t spend money like sailors on shore leave, they did spend. As I write this gold has broken the $1400 barrier, yet in Baltimore we didn’t have one person come up to us and ask for bullion, quasi bullion, or generic gold coins. Not one. Gem gold was in demand, stronger than it has ever been in recent history. And we sold virtually all that we brought with us.

Another observation that I came back with is how focused today’s buyers are. No longer do they settle for a lesser coin, they don’t buy something just to fill a hole. They will wait until that special coin, the one with the look that they have been longing for, appears. The collectors in the market place today don’t just have a want list with a denomination, date, and grade on it, there is also the “look” on their list. And some coins, no matter the grade, just won’t make the grade (no pun intended). They are fussy and they should be. I’ve always had the opinion that coin collecting should be fun. It should release the endorphins in your brain and not cause stress. It seems that the collectors I have met recently have learned from the common mistakes that one would make early on in a hobby. They have paid their dues and will wait it out until they get exactly what they want. While I generally agree with that philosophy, it can be a very dangerous double edged sword. Passing up on a truly rare coin, in anticipation of a finer piece showing up, can be, and usually is, a bad deal. If the coin in question is that tough to locate, then there will usually be another collector lined up behind you to buy it. How many time have you looked at a coin, walked away to think about, and then returned only to find it sold?

So what, besides Gem gold, was selling? Nice commems, MONSTER commems, and type coins, both proof and mint state were selling. MONSTER type coins that sold there went for numbers off the charts. Better date walkers, and yes, even proof walkers were also in demand.

Before you start to look over our new purchases, I’d like to remind you that the next show Christine and I will be doing will be the Money Show of the Southwest in Houston the first week of December. Don’t worry, we will still be buying coins and putting them up on the web before then. So while we won’t have any of show reports until next month, there will be plenty of new coins showing up on our site.

Rationing of American Gold and Silver Eagle Bullion Coins A Thing of the Past. Again.

GainesvilleCoins Blog

This September after more than two years, the United States Mint lifted the rationing of American Gold and Silver Eagle bullion coins. By law, the Mint is required to produce enough of both type of coin to meet public demand, but when they cannot supply enough coins, they resort to meeting as much demand as possible – by allocating the coins on a weekly basis.

The irony is that time and again the U.S. Mint imposes this limitation until it has sufficient coins to satisfy public need, at which time it ends the rationing, and consumers rush to buy the coins, draining the Mint’s resources within weeks or months.

The first time that the U.S. Mint imposed its ”allocation” program was in February of 2008, following a several-weeks’ suspension of Silver Eagles. This allocation rationed the amount of bullion coins amongst authorized purchasers, and the note of the Mint state simply said, “The unprecedented demand for American Eagle Silver Bullion Coins necessitates our allocating these coins on a weekly basis until we are able to meet demand.”

Last year’s rationing of both the gold and the silver bullion coins ended in June 2009 but, as predicted, demand soon shot up, forcing the November 2009 suspension of sales -soon resumed under the all-too-familiar allocation program.

By March of 2010 the rationing had ended for Gold Eagle coins, and by this September, the Silver Eagle coins became fully available.

It seems unlikely, given the U.S. Mint’s unsteady history, that the allocation program for both Gold and Silver Eagle bullion coins will not soon come around again.

The Legacy of the Swiss Helvetia Gold Coin

The Swiss Helvetia (1897 – 1949) embodies Switzerland’s status as a financial center of the world. The coin’s long standing reputation among investors and collectors illustrates its outstanding beauty and quality. The Swiss Helvetia, like other European gold coins, has a rich and lengthy heritage.

Ancient Origins

The name “Helvetia” comes from the name of Switzerland during Roman times. Julius Caesar conquered the Helveti in 58 BCE, but the name for the currency was resurrected during the Helvetic Republic, when a standardized coinage was reestablished. Prior to 1798, approximately 75 different entities were minting coins in Switzerland. Each entity had its own corresponding monetary system, so there were at least 860 circulating coins in the country.

The Helvetic Republic lasted from 1798 to 1803. Its goal was the unification of the numerous cantons of Switzerland. During that period the government introduced a normalized currency based on the Berne thaler. These francs were equal to 1.5 French francs. Although the Helvetic Republic soon ended, the new monetary system served as a model for various cantons in the newly formed Swiss Confederacy.

Currency in Transition

The country’s regions readopted their individual currency systems, with some modifications. Between 1803 and 1850, approximately 22 cantons minted coins, but less than 15% of the circulating currency was local. The remaining 85% was foreign, acquired during Swiss mercenaries’ exploits. Private banks started printing currencies to supplement coinage. By 1848 the Swiss monetary system included over 8000 different currency types. This trend of accepting foreign money has endured to this day; many businesses in Switzerland still accept international denominations as payment.

The Swiss federal governments sought to end this complication with a new Federal Constitution of 1848, which specified that only the federal government could produce and issue money. Two years later the first Federal Coinage Act made the franc the official monetary unit for Switzerland. The franc would replace any other currency used by the various cantons. The term “Helvetia” resurfaced as a name for the franc, recalling the country’s ancient origins.

Since 1850, the Swiss Helvetia has undergone only one devaluation, in 1936. The coin’s value dropped 30%, along with that of the US dollar, the British pound, and the French franc. Like the rest of the industrialized world, Switzerland chose to abandon the gold standard that year. The value of the Swiss Helvetia has remained strong ever since.

Swiss Helvetias as Investments

Sometimes called “Vrenelis” after their obverse design, Swiss Helvetias minted in the late nineteenth and mid-twentieth century have gained popularity among investors. Their exquisite design and outstanding condition make them a natural choice.

On the coin’s obverse is a portrait of “Vreneli” the fabled “Swiss Miss” of the Alps. The reverse features the Swiss Coat of Arms and the wreath of the Republic. They are generally available in brilliant uncirculated quality. The excellent luster and engraving of the Swiss Helvetia supplement the coin’s intrinsic value. Investors who seek a unique and historical precious metal will find the Swiss Helvetia a wise and interesting addition to their portfolios. (more…)

Gold tops $1,350 Before Fed Meeting Next Week

Markets await more money printing and key midterm elections

GDP meets expectations

Gold broke $1,350 today just before data showed the U.S. gross domestic product grew by 2 percent in the third quarter on high consumer spending, meeting economic forecasts. In a big meeting Tuesday – also Election Day – the Federal Reserve will discuss the prospect of further quantitative easing, or QE, which will have a major impact on the dollar, inflation expectations, and gold prices. “The Fed meeting next week has been dominating the markets,” said Standard Bank analyst Walter de Wet. “We think the gold market has priced in around a $500 billion QE exercise by the Fed,” he said. “If the Fed comes out with a higher figure, we think gold will move higher.”

The trillion-dollar question: How much money will the Fed print next?

All eyes are on the Fed and its next anticipated round of QE. Most experts agree that some form of QE will be launched at the conclusion of a two-day meeting of its policy-making committee next Wednesday. It’s now just a question of how many billions worth of assets it will purchase and how much the financial markets have already priced in that QE.

“Shock and awe”?: Goldman Sachs thinks the Fed ultimately might buy $2 trillion of assets – a figure close to its “shock and awe” purchase of $1.7 trillion in longer-term Treasury and mortgage-related bonds at the height of the financial crisis. “We expect an announcement of $500 billion or perhaps slightly more over a period of about six months,” said Goldman economist Jan Hatzius. “The key question, however, is not the size of the first step, but how far Fed officials will ultimately need to move to achieve their dual mandate of low inflation and maximum sustainable employment.” The Fed also might announce a monthly purchase rate of perhaps $100 billion that will remain in place until the outlook for jobs and inflation improve “significantly,” he wrote. Goldman thinks as much as $4 trillion of additional asset purchases might be needed to bring inflation and unemployment into line with the Fed’s targets.

Likewise, Bank of AmericaMerrill Lynch Global Research has forecast $1 trillion in QE, and a Reuters poll showed Wall Street analysts expect the Fed to buy between $80 billion to $100 billion in assets per month.
Or “a measured approach”?: However, on Tuesday, The Wall Street Journal downplayed expectations of a major round of QE: “The central bank is likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months, a measured approach in contrast to purchases of nearly $2 trillion it unveiled during the financial crisis. … Officials want to avoid the ‘shock and awe’ style used during the crisis in favor of an approach that allows them to adjust their policy, and possibly add to their purchases, over time as the recovery unfolds.”

Gold stands to gain: The launch of any significant QE should have an uplifting effect on gold prices. Gold could rise to $1,400 an ounce and the dollar could lose another 2 percent to 3 percent if the Fed buys $500 billion over the next six months, HSBC analysts said Monday. The Fed could eventually buy up to $2 trillion in bonds – way more than the government will issue this year, according to HSBC.

Unbottling the inflation genie

In leading the Fed into uncharted monetary territory, Chairman Ben Bernanke is risking unleashing 1970s-style inflation – against which gold is your best protection. “By reducing real interest rates and trying to break the psychology of ‘Why spend today when I can buy goods cheaper tomorrow,’ they are hoping to drive growth that would be more commensurate with a pickup in employment,” said Miller Tabak & Co. chief economic strategist Dan Greenhaus. “The risk is a late-1970s type of scenario where the inflation genie gets out of the bottle.” (more…)

Coin Guides: Tips on Buying Precious Metals and Bullion Coins

By Gainesville Coins – www.gainesvillecoins.com

The Advantage of Physical Assets

Precious metals have long been treasured both for their beauty and rarity. As a result, these metals have been used by many civilizations as a store of wealth, and in some cases, a foundation for currency.

Historically speaking, these stores of wealth have not experienced the kind of boom and bust cycles present in other forms of investment. This observed stability exists for several reasons. First, precious metals such as modern bullion have intrinsic value. The fact that precious metals consist of something that actually has value makes them more stable than fiat currency which is made of near-worthless paper.

In addition, these metals in many cases have practical applications. Modern industrial processes make use of metals such as gold and platinum for their unparalleled conductivity and use in manufacturing electronics. Moreover, in the case of economic turbulence, when investors do seek investments other than those vulnerable to market fluctuations, they wisely turn to the stability of precious metals. This increased demand has the effect of increasing their values, making them an even better investment.

Finally, when precious metals are minted as collectable coins such as the popular Gold Eagle or Gold Buffalo, they are sought after not only for their intrinsic value, but for their rarity as a collectable item. Again, because there is a fixed supply of any one coin, increased demand for such an asset increases its value. It is for these reasons that for hundreds of years, gold and silver coins have enjoyed a remarkable history of defining purchasing power and backing international finance. For more on this subject, see our article addressing the superiority of precious metals.

Technology and Precious Metals

The influence of the Internet on the trade of precious metals has been vast. It is no longer necessary for collectors to buy and sell coins only locally. The Internet has several venues through which to vend or purchase these assets to buyers or sellers around the world. (more…)

Gold Dominates Coin Market as Records Fall

By Steve Roach
First published in the Nov. 1, 2010, issue of Coin World

Gold is currently the engine that is driving the rare coin market.

It seems that Coin World’s Market Analysis of late has been alternating between gold one week and everything else the next week. However, an emphasis on gold is appropriate as the market has never seen gold hit the levels that it is currently hitting.

On Oct. 11, the price of gold hit a record London PM fix of $1,351 an ounce and at one point during the day hovered at $1,360.

On Oct. 12, the banking investment firm Goldman Sachs raised its gold price forecasts to $1,400, $1,525 and $1,650 for three-, six- and 12-month horizons, citing falling interest rates and a slowdown of the U.S. economic recovery.

Other investment firms are similarly bullish on the prospects of gold to continue rising in value.

Gold is up nearly 25 percent in 2010, and if trends continue, gold will be heading for its tenth consecutive annual gain.

The U.S. Mint’s release of Proof 2010-W American Eagle gold coins in early October has taken pressure off the secondary market for earlier 1-ounce issues.

At an issue price of $1,585, the 2010 1-ounce coins are trading at the same level as older issues in the wholesale markets, where several dealers are paying up to $1,600 an ounce for coins available for immediate shipment to fill orders from wholesalers who still have customers demanding these coins for inclusion in Individual Retirement Accounts.

As of Oct. 12, the Mint’s Web site posts an expected delivery date of Oct. 27 for new orders of Proof 2010-W gold American Eagles.

The recent announcement that the Mint will produce Proof 2010-W American Eagle silver coins has also cooled off the market for earlier coins tremendously.

Immediately after the news about the Proof 2010-W silver coins broke, market makers reduced their buy prices for Proof silver American Eagles from $55 to $45, in line with the Mint’s $45.95 price of the Proof 2010-W coins when they go on sale Nov. 19 at noon with a household limit of 100.

The Mint has not given any indication of how many Proof 2010-W American Eagles silver coins may be produced.

New Collector Coins from The Royal Canadian Mint

The Royal Canadian Mint is proud to demonstrate its skill and craftsmanship with a new selection of precious metal collector coins celebrating symbols of Canadian heritage ranging from prehistory to heraldry. These new collector products include a $300 platinum coin featuring the giant prehistoric ground sloth, a $300 gold New Brunswick Coat of Arms coin and extra-thick “Piedfort” pure gold and silver Maple Leaf coins.

“The Royal Canadian Mint values the role its collector coins play in showcasing Canada’s vast heritage through precious and unforgettable works of art and craftsmanship,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint.

“Collectors from Canada and around the world will find that the Mint’s newest collector coins honour the tradition of celebrating Canada’s defining features through keepsakes of uncompromising quality”.

The following are descriptions of the products now available to collectors and gift givers worldwide.

2010 $10 1/5-OZ PURE GOLD AND 2010 $5 1-OZ PURE SILVER PIEDFORT COINS – MAPLE LEAF

The Royal Canadian Mint is proud to celebrate its expertise and artistry in the field of precious metal refining and manufacturing with a pair of pure gold and silver “Piedfort” coins whose exceptional thickness distinguishes them from ordinary coins and makes them spectacular gifts or collectibles for those with an eye for the exclusive.

Both the $10 1/5 oz. 99.999% pure gold coin -the Mint’s first gold Piedfort, and the 1 oz. 99.99% pure silver coin -only the second of these coins the Mint has produced in silver, feature the iconic maple leaf, long symbolic of the Mint’s leadership of the world bullion industry. Only 3,000 1/5 oz. coins of 99.999% pure gold and 9,000 silver one-ounce coins of 99.99% purity are being made available in this exciting release.

The entire mintage of 99.999% pure gold coins Piedfort coin is offered as part of a set including the 99.99% pure silver Piedfort coin, retailing at $679.95 CAD. Another 6,000 individual silver Piedfort coins are being offered at $79.95 CAD each.

2010 $300 PLATINUM COIN — GROUND SLOTH

The fourth issue in the Mint’s exclusive Prehistoric Animals Collection of 9995 fine platinum coins features the gigantic Jefferson’s Ground Sloth, so called after the third President of the United States of America donated, in 1797, the first fossil specimens found in North America to Philadelphia’s American Philosophical Society. The tradition of showcasing the fascinating animals which roamed ancient Canada continues on this precious Mint coin containing a full ounce of pure platinum. Like the rare bones of the creature it immortalizes, this platinum coin has been made in very low quantities, with a worldwide mintage of only 200 examples. Designed by Alberta artist Kerri Burnett, this coin retails for $2,999.95 CAD.

(more…)

Gold Confiscation Past and Present

There was a recent article posted  by David Ganz in Numismatics News titled “Protect Your Gold Against Seizure” (actually it is just the first part of a multi-part article), where several topics were discussed, not the least of which was FDR’s Executive order from April 5, 1933.

Many “Gold Bugs” in addition to just regular investors who have moved into the gold marketplace are concerned that if the economic crisis worsens, there is or might be the possibility that we could see new efforts to confiscate gold on the part of the government.

Indeed the Glen Beck-Goldine controversy with NY Congressman Anthony Weiner is in part about what Rep Weiner calls misleading statements and fear-mongering on the part of Beck and Goldline, to use the 1933 Executive order to steer buyers into numismatic coins (and common date foreign gold coins) which were exempt under the 1933 confiscation order, rather than purchasing lower margin bullion products, such as American Gold Eagles, Krugerrands and the like.

CoinLink is going to have an article about the Beck-Goldline-Weiner story next week which is sure to piss off a number of people.

Back to David Ganz’s article. There were several thing in the piece that raised our eyebrows and were just interesting.  Mr Ganz is both an attorney and a highly intelligent and insightful coin enthusiast. We always follow his articles with the highest degree of interest.

FDR Ends Gold Standard in 1933

He related that there was some disagreement on whether or not FDR’s Executive order was indeed a confiscation order, or a request for voluntary compliance in the national interest.  It is true that the police did not come knocking at the doors to take all of their gold, but we would have to disagree with Maurice Rosen’s conclusion that this was a voluntary situation. Clearly Section 9 of the Executive Order  (See full text of Executive Order 6102 below) calls for a $10,000 fine and Up to 10 Years in prison for ‘non compliance. That does not sound very  “Voluntary” to me. (more…)

World Gold Demand Jumps 36% with ETF Investment Demand Rising 414% to 291.3 Tonnes

Gold demand reached 1,050.3 metric tons in the second quarter, 36% higher than the same quarter in 2009, mostly thanks to soaring investment demand

According to the WGC’s Gold Demand Trends report for Q2 2010, published today, demand for gold for the rest of 2010 will be underpinned by the following market forces:

* India and China will continue to provide the main thrust of overall growth in demand, particularly for gold jewellery, for the remainder of 2010.

* Retail investment will continue to be a substantial source of gold demand in Europe.

* Over the longer-term, demand for gold in China is expected to grow considerably. A report recently published by The People’s Bank of China and five other organizations to foster the development of the domestic gold market will add impetus to the growth in gold ownership among Chinese consumers.

* Electronics demand is likely to return to higher historic levels after the sector exhibited further signs of recovery, especially in the US and Japan.

Investors are making the switch from buying gold only in times of crisis to having gold as part of a diversified portfolio, said Jason Toussaint, a managing director for the World Gold Council.

“Gold is the ultimate diversifier,” he said. “Correlation to U.S. equities is zero” in addition to its proven ability to not only hold value in times of crisis but increase.

Marcus Grubb, Managing Director, Investment at the WGC commented:

“Economic uncertainties and the ongoing search for less volatile and more diversified assets such as gold will underpin investment demand for gold in the immediate future. Further, in light of lingering concerns over public debt levels and the euro, European retail investor demand has increased significantly.

Over the past quarter, demand for gold jewellery in key Asian markets has been challenged by rising local prices. Nevertheless, we are seeing a deceleration in the pace of decline in demand, providing a strong outlook for ongoing recovery in this crucial market segment.”

DEMAND STATISTICS FOR Q2 2010

* Total gold demand1 in Q2 2010 rose by 36% to 1,050 tonnes, largely reflecting strong gold investment demand compared to the second quarter of 2009. In US$ value terms, demand increased 77% to $40.4 billion. (more…)

Perth Mint Unveils the Gold and Silver Bullion Coins to be offered in 2011

Recognized throughout the world for their superior quality, superb artistry and Government guarantee of weight and purity, the Perth Mint has unveiled it’s 2011 Australian Bullion Coin Program. These pure gold and silver coins are actives sought after by both investors and collectors.

The comprehensive line-up for 2011 includes two designs for gold bullion coins ranging from 1/20oz up to 10 kilos and three designs for Silver bullion coins from 1/2oz up to 10 kilos.

Struck by The Perth Mint from 99.99% pure gold, each coin is issued as legal tender under the Australian Currency Act 1965, the undisputed guarantee of its weight and purity. Portraying creative new reverse artistry, every 2011 gold bullion coin also features The Perth Mint’s historic ‘P’ mintmark, a traditional symbol of quality trusted by investors worldwide. Uniquely, many of these releases are restricted by mintage, a feature that creates an exciting potential for even greater investment return in the form of a numismatic premium.

AUSTRALIAN KANGAROO GOLD BULLION COINS : 1 kilo, 1oz, 1/2oz, 1/4oz, 1/10oz
A kangaroo is the most instantly recognisable wildlife symbol of Australia. In 2011, The Perth Mint is releasing four small gold bullion coins portraying two kangaroos ‘boxing’ in the outback. In addition, a large 1 kilo Australian Kangaroo coin is available with a classic kangaroo design by Dr Stuart Devlin, AO CMG goldsmith and jeweller to Her Majesty Queen Elizabeth II.

No more than 350,000 1oz coins, 100,000 1/2oz coins, 150,000 1/4oz coins and 200,000 1/10oz coins will be produced in 2011.

AUSTRALIAN LUNAR GOLD BULLION COINS : 10 kilo, 1 kilo, 10oz, 2oz, 1oz, 1/2oz, 1/4oz, 1/10oz, 1/20oz
The Australian Lunar series of gold coins epitomizes The Perth Mint’s rich tradition of minting investor coins portraying Chinese themes. This year’s releases mark the 2011 Year of the Rabbit, one of 12 animals associated with the ancient Chinese lunar calendar. In Chinese culture, people born in the Year of the Rabbit – 1915, 1927, 1939, 1951, 1963, 1975, 1987, 1999 and 2011 – are articulate, talented, and ambitious. They are virtuous, reserved, and have excellent taste. Rabbit people are admired, trusted, and are often financially lucky. They are fond of gossip but are tactful and generally kind. Rabbit people seldom lose their temper. They are clever at business and being conscientious, never back out of a contract.

No mintage limit applies to 1 kilo, 10oz, 2oz, 1/2oz, 1/4oz, 1/10oz and 1/20oz coins. However, production will close at the end of 2011, when The Perth Mint will declare each coin’s official mintage. A maximum of 100 10 kilo coins will be produced on a made-to-order basis. However, production will close at the end of 2011, when the coin’s actual mintage will be declared. The Perth Mint will produce no more than 30,000 1oz coins. Production will cease when the mintage is fully sold or at the end of the series, whichever comes first. (more…)

Gainesville Coins Honored with “2010 Best Bullion Award” form National Inflation Association

The National Inflation Association is pleased to announce the release of its first ever update to its unbiased reviews of the major online sellers of gold and silver bullion. NIA’s ‘Gold and Silver Seller Reviews’ feature was originally launched on January 14th and has become widely recognized in the industry as the premiere spot for precious metals investors to become educated about how online gold and silver coin and bullion dealers are rated in the categories of pricing, selection, shipping/processing, customer experience, and overall.

The online gold and silver seller industry is one of the most rapidly growing in the world today. NIA is dedicated to ensuring that Americans get the most real money for their fiat money when making the most important investment decision of their lives. NIA believes it’s important for Americans to receive their precious metals in a timely manner, as hyperinflation in the U.S. can literally break out overnight due to an unforeseen event taking place in one of our creditor nations.

NIA decided to award Gainesville Coins with our “NIA 2010 Best Bullion Award“.

Gainesville Coins is the highest rated company in our review with prices for precious metals that are the lowest out of all the companies in our review. Gainesville Coins had already earned a perfect 5 stars in all categories in our original review, but they have somehow managed to improve their site by adding precious metal spot prices as well as new “Deals of the Week”, “Featured”, “New Arrivals”, and “Top Sellers” features. NIA members who make a purchase on Gainesville Coins can now receive an automatic $5 discount on their order by applying the following coupon code in their shopping cart: ‘NIAUS’ (NIA does NOT earn any kind of a referral fee).

NIA has added three new companies to its review: Austin Rare Coins, Monarch Precious Metals, and Northwest Territorial Mint. NIA has also updated the reviews of previously reviewed companies. NIA’s next update to its review will be released later this summer. NIA plans to soon implement a new feature that will allow its members to submit new companies for NIA to review. NIA members will also be able to submit complaints about companies that should be avoided.

1999-W 1/10th Eagle $5.00 Gold Matte Finish Error or Variety?

By Ken Potter – NLG – CoinLink Content Partner

Some time ago a fellow sent in an error-variety coin with some very interesting questions. He said: “I have a 1999-W $5.00 Gold 1/10th Eagle that was struck by the Mint with an Uncirculated Matte Finish instead of the intended Proof finish for the West Point issue. Is this an error or variety — the grading service states it’s an error? Also, why is it referred to by the grading service as struck with “Unfinished Proof Die” when the die has clearly been “finished” albeit the wrong finish?

Phot by Ken PotterHe made to very good points and I had to explain that it was both an error and a variety and that the grading service was technically wrong. My answer to him was as follows and aught to be of interest to others.

According to Alan Herbert in his book, The Official Price Guide To Mint Errors:
“Only a small fraction of the mint product is an “error.” The E word was born back in the dark ages when almost nobody knew anything about the minting process. Today we know enough about the complexities of minting coins to be able to pinpoint the exact cause, or causes, in 99 percent of the cases. We desperately need the proper language to fit with that increased knowledge. Teaching novice collectors nicknames and slang is akin to teaching a chimp how to use a baseball bat. It curls my hair to hear professional people, engineers, doctors, lawyers and other college graduates misusing the language like they do.

We know that many actions by mint personnel are expedients-things done to speed up production, salvage worn or damaged dies, use up substandard planchets, or just simply to save money. Obviously, an expedient is not an “error.” It was done deliberately. Other mint products are different because of wear and tear to the dies, coin press, or other equipment. Again this stretches the definition of “error” to have to include a normal result of heavy usage.

The more we know about the minting process, the harder it is to stretch the E word to fit the end result. The simple solution is to have a “real” term which will include any and all variations, and-just as important-will include “errors,” but in their proper perspective. That term is minting varieties.

A minting variety is, by definition, “A coin which is normal or which exhibits a variation of any kind from the normal, whether intentional, accidental, or due to wear and tear on the equipment, as a result of any portion of the minting process, whether at the blank or planchet stage, as a result of a change or modification of the die, or during the striking process.”
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Gainesville Coins Launches Mobile Coin and Bullion Website

Gainesville Coins announces the launch of the mobile version of GainesvilleCoins.com. Inspired by an increasingly mobile society, the mobile site development was seen a natural progression in serving our tech-savvy customer base.

Notable Features of the Gainesville Coins, Inc. Mobile Website, Mobile.GainesvilleCoins.com, Include:

  • Access from any Internet-Capable Cellular Phone: The mobile site was designed to give Smart Phone users the ability to easily access spot pricing, product pricing (both bank wire and credit card price) and other precious metals market information. To this end, the mobile website has been designed for ease of access from any internet-capable cellular phone, without the need to download a program or application.
  • Search All Products: Striving to add to the growing list of mobile-friendly websites and create a better customer experience, Gainesville Coins included an easy-to-use search function on their mobile website. For ease of navigation, this feature allows customers to find products by a keyword, such as the name of a specific coin or type of coins.
  • Live Spot Pricing: Precious metals investors know to closely watch spot prices, and Gainesville Coins is committed to helping investors make smart purchases. The new mobile website includes a feature which extends this information on a moment-to-moment basis.
  • Click-to-Connect: When the time and price is right to make a purchase, Gainesville Coins’ mobile site makes it easy with a Click-to-Call feature. With the click of one button, customers can be instantly connected to a precious metal expert who’s ready to help or send an email for more information.

In combination with Gainesville Coins’ Price Level Alerts, customers who buy precious metals at certain price levels can be automatically notified of their preferred price and easily get more information and/or purchase their preferred products with ease.

If you don’t have an internet capable phone, take a sneak peak at Mobile.GainesvilleCoins.com.

The First Israeli Bullion Coin Is Released

“There was great excitement among both international and Israeli coin collectors on the day of the initial offering of the first Israeli bullion coin,” the Israel Coins and Medals Corp. said in a statement Wednesday. “In the morning, the telephone lines at our order call center crashed because of high demand and interest for the special gold coin.”

The Bank of Israel has issued and aptly named this series “Jerusalem of Gold”. The coins in the series are legal tender. Each contains 1 oz. of fine gold.9999 and has a face value of 20 New Sheqalim (NIS).

These are the very first Israeli gold bullion coins, priced in accordance with the daily international price of gold, plus a reasonable mark up over gold.

These bullion coins are equally valuable as collectors items and as financial investments. The Gold Bullion Coins in the “Jerusalem of Gold” Series will depict a treasured historical site in the eternal city of Jerusalem.

The obverse features the The Tower of David, rising above the walls of the Old City of Jerusalem, near Jaffa Gate. The word “Jerusalem” appears above the Tower, again in all 3 languages, the Face Value of 20 New Sheqalim (NIS), mint mark and year. On the right side appear the words “1 oz. fine gold .9999” in Hebrew and English.

The reverse of each coin will depict The Lion of Megiddo, with its stylized curved tail, is taken from an ancient seal excavated in Megiddo (Armageddon) in the Jordan Valley, dating from the 8th cent. BCE. The seal belonged to Shema, the servant of Jeroboam II, Israelite King. The lion is also the symbol of the Tribe of Judah and of the eternal capital of Israel, Jerusalem. The same Lion of Megiddo appeared in the past on the Israeli 5 Lira Banknote (1958), 5 Lira Coin (1978), and on the Half Sheqel Coin (1980). Above the figure of the lion appears the State of Israel Emblem and below it the word “Israel” in English, Hebrew and Arabic..

One coin will be issued annually, starting from 2010 with the “Tower of David”. The 2011 coin in the series, will feature another timeless treasure, “The Western Wall” the last remnant of the Second Holy Temple.

The gold coins are valuable as collector’s items and as financial investments. The Tower of David edition will be limited to 3,600 coins. In addition, there is a strict limit of five gold coins per customer.

The coins in the series are legal tender and are issued by the Bank of Israel.

14 Fundamental Reasons Why You Should Be Investing Your Money . . . In Money

Concentrate on popular‚ rare‚ historically significant quality coins as part of an overall investment plan in good times and bad…and history suggests that the rewards are great. There are numerous reasons why the demand for rare coins is growing among collectors and investors alike. Here are fourteen of the most fundamental:

Fundamental Reason #1: Diversification

Investment professionals recommend ten to twenty percent (and sometimes higher) of an investment portfolio be devoted to tangible assets in order to maintain diversification‚ reduce overall risk and create a hedge against inflation. Rare coin investing‚ and owning hard assets‚ should be one of the foundational elements of any portfolio.

Fundamental Reason #2: Stability

There is little history of dramatic sudden price shifts with truly rare and popular rare coins. This is partially due to the huge collector base…an estimated 35‚000‚000 and new ones entering the market all the time…who create a steady‚ consistent demand for the coin market. And‚ since a collector/investor takes physical possession of his or her coins‚ there are none of the destabilizing forces that exist in other markets.

Fundamental Reason #3: Rarity

It is estimated that only 2% of all the rare U.S. coins ever minted still exist. This existing supply is consistently being reduced as collectors/investors buy more‚ hold them longer and take them off the market. By the year 2015‚ experts believe that there will be some 100‚000‚000 coin collectors/investors worldwide‚ or nearly three times the number that exist today. Since there will be no more new coins available for these new collectors/investors‚ prices should continue to rise to meet the increased demand—a basic supply/demand fundamental.

Fundamental Reason #4: History

Since coins have commemorated heroes‚ great achievements and significant events throughout history‚ a collector/investor is essentially purchasing a piece of history AND a piece of art. (more…)

Gold Backed Credit Cards …. Really?

This week a “bullion related” news item crossed my desk which gave me pause.

A company called Gold Solutions Marketing Inc. (www.TheGoldBullionCard.com),  recently issued a press release announcing their new Gold Backed “credit card”, which will be available soon online. The card, which will be branded by either MasterCard or Visa, is supposed to function like a regular credit card, but will be backed by gold bullion coins you have to deposit into an account. If you don’t currently have any gold, the press release states that you will be able to purchase a quantity of gold. ” below market prices”, at the time of your account opening.

Jeff Silver, VP of Gold Solutions Marketing, Inc. was quoted to say, “Those who ‘believe in gold’ can see  the new (Credit Card reforms of Feb 2010) law reshaping attitudes and conventions about credit cards that will help make this breakthrough collateralized credit card concept a reality in the very near future.  They know that gold, which is a hard asset, can provide a higher level of liquidity and usefulness, while positively impacting the financial picture for millions of Americans” .

Now to be fair, I have to state up front that I am not a big fan of the credit card industry or the big mega banks in particular, and how Congress has allowed, and still allows them to engauge in what many consider to be predatory business practices is a whole different story. But something just didn’t make sense to me in this press release.

First, this is a collateralized credit card, where of the line of credit is backed by an asset you already own.  According to Jeff Silver, the ” credit card [will be] based on 75 percent of the value of gold coins on deposit……, which should give the issuing bank a much more secure feeling about extending credit.”  You Think ?

Now my mother drowned all of her stupid children, but it seems to me that if I have $20,000 in gold bullion coins, in my possession, why on earth would I ship them off to a depository in exchange for a “credit card” with a $15,000 credit limit? (more…)

US Mint 2009 One-Ounce Platinum Proof Coin Available December 3

Coin features first new reverse design in multi-year series with mintage limited to 8000

The United States Mint announced that it will begin accepting orders for the 2009 American Eagle One-Ounce Platinum Proof Coin at noon Eastern Time (ET) December 3, 2009. Orders will be limited to five units per household.

2009_Proof_plat_revThe reverse (tails side) of the 2009 American Eagle One-Ounce Platinum Proof Coin features the first design in a new six-year program that commemorates the core concepts of American democracy by featuring the six principles of the Preamble of the United States Constitution. Themes for the reverse designs in the new series of American Eagle One-Ounce Platinum Proof Coins are inspired by narratives prepared by the Chief Justice of the United States, John G. Roberts, Jr., at the request of the United States Mint. Coin designs reflecting the remaining principles of the Preamble will be released as follows: To Establish Justice (2010); To Insure Domestic Tranquility (2011); To Provide for the Common Defense (2012); To Promote General Welfare (2013); and To Secure the Blessings of Liberty to Ourselves and our Posterity (2014).

The 2009 design depicts four faces representing the diversity of our Nation, with the clothing and hair weaving together symbolizing the principle, To Form a More Perfect Union. A new design element, an American Eagle “privy mark,” has been added to the reverse of the coin. The privy mark is from an original “coin punch” identified at the United States Mint at Philadelphia. The reverse was designed by United States Mint Artistic Infusion Program Master Designer Susan Gamble and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill. (more…)

Gold IRA Accounts Revisited

Back in July of this year CoinLink ran a story about Gold IRA’s and the choices available to consumers/investors. Since we are coming up to the end of the year we thought it would be prudent to re-examine the topic, especially in light of the exceptional performance of Gold in the past 12 months, and the rather extraordinary events that have unfolded in 2009. But first a bit of background.

gold_coins_ln_042409What is a “Gold IRA” ?

Traditional IRA investment accounts you open with a Bank or stock brokerage firm DO NOT allow you to purchase physical precious metals in the account. The closest you can come to this is to select one of the many ETF’s that have become available in recent years. Two of the most popular ETF’s are the GLD and SLV for Gold and Silver respectively. However what if you want to purchase the actual physical gold or silver itself? To do that, you need to set up a Self Directed IRA account.

Self Directed IRA’s require a bit more effort to set up initially, but they offer the investor the greatest level of flexibility possible by allowing you to place “non-traditional” assets into a tax deferred vehicle such as an IRA, in this case precious metals.

How do Self Directed Precious Metals IRA’s Work?

Essentialy Self directed IRAs are composed of three different elements; The Precious Metals Dealer, The Third Party Administrator and finally The Depository where your IRA assets are stored. Lets take a look at these components.

1) Your Precious Metals Dealer – where it all begins…..
For many investors this is where it all starts. Since most investors do not have existing relationships with the more esoteric components of the the Self Directed IRA , namely the third party administrator or the depository service, they often rely on the advise and hard work of their Bullion / Precious metals dealer to assist them is setting up and selecting the other two “legs of the stool”. But here is where you need to make sure that you, as the investor, are educated as to what your choices are, how they will effect your investment and to guarantee that you get the most bang for the buck.
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Gold Reaches New Heights at $1130 oz. Where Does It Go From Here?

This morning Gold has surged again to a record high of over $1130 per oz as safe haven buying and a continuing weak dollar fuel continued demand. But where is gold heading?

gold_bug_1In an interview with The Daily Telegraph during a London gold conference, Barrick President Aaron Regent said that one could argue that Earth has reached “peak gold,” as new supplies of the ore are increasingly difficult to find.

“The supply crunch has helped push gold to an all-time high, reaching $1,118 an ounce at one stage yesterday,” the paper noted. “The key driver over recent days has been the move by India’s central bank to soak up half of the gold being sold by the International Monetary Fund. It is the latest sign that the rising powers of Asia and the commodity bloc are growing wary of Western paper money and debt.”

Bloomberg reported that  “The metal seems set to extend higher as record low interest rates, inflation concerns, central-bank purchases and falling mine output draws a broad spectrum of investment demand,” said James Moore, analyst at TheBullionDesk.com, in a note to clients.

“We are looking to see if the dollar index breaks lower, which could push gold above $1,150 and on towards $1,180,” he said.

Another analyst stared that “This is a different type of gold rally, with support coming from both sides of the market — investment [and] fundamental,” said Darin Newsom, a senior analyst at Telvent DTN. “A certain portion of the buying interest has come from the continued weakness of the dollar, but there is more to it than that, there is some ‘safe haven’ buying as well, but with copper holding firm and the Baltic Dry Index rallying, the Chinese economy seems to be gaining strength,” boosting investor confidence, he said.

And further confirmation of the  retail demand for gold comes from Laura Sperber in her Baltimore Coin Show Market Report. Sperber observered that”if you had gold, you sold”. ALL gold, was selling briskly. The demand reminded us of 1980″.

Also, news from last week that India had purchased 200 tonnes of gold from the IMF was solid confirmation that demand may be here to stay. The view that central banks will continue to be net buyers of gold rather than net sellers (as has been the case for about the last twenty years) has many calling the Indian purchase at $1,045 an ounce the “new floor” for the gold price.

China has already doubled its gold reserves over the last six years, but the Indian move underscored how even the most traditional investors are shifting a portion of their assets into bullion.

So at this juncture, all indicators seem to point to the continued rise in gold prices, at least for the near term.

2009 American Buffalo Gold Proof Coin to be Released by U.S. Mint on October 29th

The United States Mint announced today that it will begin accepting orders for the one-ounce 2009 American Buffalo Gold Proof Coin at noon Eastern Time (ET) on October 29, 2009. Its price will be based on the United States Mint’s pricing structure for numismatic products containing precious metals. To view current pricing information, visit http://www.usmint.gov/pressroom/index.cfm?flash=yes&action=goldplat.

2009_proof_gold_buffalo_102209As a result of the numismatic product portfolio analysis conducted late last year, fractional denominations of the American Buffalo Gold Proof and Uncirculated Coins, as well as the American Buffalo Four-Coin Set, are no longer offered for sale.

The obverse (heads side) and reverse (tails) designs of the American Buffalo Gold Proof Coin are based on the original 1913 Type I Buffalo nickel by James Earle Fraser. The coin’s obverse bears the profile of a Native American. Inscriptions on the obverse include LIBERTY, 2009, the initial F for Fraser and the W mint mark for the United States Mint at West Point. The coin’s reverse features the revered American Buffalo, also known as the bison. Inscriptions on the reverse are UNITED STATES OF AMERICA, E PLURIBUS UNUM, IN GOD WE TRUST, $50, 1OZ., and .9999 FINE GOLD.

Each 2009 American Buffalo Gold Proof Coin is presented in an elegant hardwood box with a matte finish and a faux leather inset. The coins are exhibited on a platform which can stand at an angle for display when the box is open. A custom-designed Certificate of Authenticity signed by the Director of the United States Mint is also included.

The United States Mint will accept orders for the 2009 American Buffalo Gold Proof Coin at its secure Web site http://www.usmint.gov/catalog or at the toll-free number 1-800-USA-MINT (872-6468). Please add $4.95 for shipping and handling. There is no mintage or household order limit for this product.
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New Zealand Mint Opens Precious Metals Bullion Exchange

New Zealand has its first precious metal Bullion Exchange.

New Zealand Mint Gold Kiwi and .9999 Fiji Pacific Sovereign Auckland-based NZ Mint has opened the country’s first gold and silver trading floor in its new headquarters in the city’s CBD.

NZ Mint has been a key driver of interest in gold and bullion and silver investment in New Zealand and the market for gold and silver has grown tremendously over recent years.

The investment market is increasingly more sophisticated and investors today are much more knowledgeable about the role of precious metals in a diversified portfolio says NZ Mint bullion trader Mike O’Kane.

“Obviously gold and bullion play a big role in our business so we wanted to ensure we could look after those investors and traders who are focused on precious metals,” O’Kane says.

“We decided the best way to address these needs was to set up a dedicated Bullion Exchange, purpose-built for bullion trading at our new premises at 48 Greys Ave.”

The aim is to make it easier and more convenient for investors in bullion and precious metals and to create a professional environment where they are dealing with experts in the field, he says. (more…)