Buried within the hype of the Ultra High Relief Saint Gaudens Double Eagle and all of the other news of the day was that during the ceremony for the opening of the UHR exhibit at the Philadelphia Mint was the announcement that John Mercanti would be the 12th Chief Engraver of the US Mint.Mercanti, who was previously the “Supervisory Design and Master Tooling Development Specialist,” has been
What do you think is going to happen with the spot price of precious metals? Was this weeks pull back from profit taking, gold being over bought or something else?
Which one do you like the best short term (30-45days) and for the rest of this year. I like silver and palladium. Right now the premiums are lowest on these which is what makes them more attractive to me. Physical demand is still very strong for all types of metals which should keep premiums higher on gold and platinum coins then in the past. Proof of this demand is the 2009 1 oz silver Chinese Pandas are already sold out at the China Mint. Their annual mintage is 600,000. The U.S. Mint continues to allocate 1 oz gold and silver eagles. 2009 fractional eagle are not yet being minted.
Leave your comments to let us know what you think. Please write in a semi business like fashion and we will be happy to post them.
First State Depository announces relationship with New Direction, self-directed IRA administrator
First State Depository
First State Depository Company, LLC, a private coin and precious metals depository company, announced that it has developed a relationship with Entrust New Direction IRA, a self-directed IRA administrator, to provide depository services for clients interested in holding gold and other precious metals in their self-directed IRA and other tax-sheltered plans.Entrust New Direction IRA, part of The Entrust Group, one of the nation’s largest self-directed IRA providers, administers a variety of IRA, 401(k) and HSA accounts, which can purchase precious metal investments.
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Gold coin shortage as demand soars
Financial Times, UK
The rush by retail investors into bullion coins is creating shortages as mints across the world struggle to meet the surge in demand, dealers and mint officials say. The scarcity is lifting coin premiums to as much as 5 per cent above the spot gold price, a level reached briefly after the collapse of Lehman Brothers last September, when coin shortages also surfaced.
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U.S. man arrested in gold-bullion Ponzi case
Reuters
NEW YORK (Reuters) - A man accused of running a multimillion-dollar Ponzi scheme in which investors were told their deposits were backed by offshore gold bullion reserves was arrested on Tuesday, nearly seven years after his operation shut down and he moved to Mexico, authorities said. David Copeland Reed, 38, was charged with conspiracy, money laundering and wire fraud in an indictment unsealed in U.S. District Court in Manhattan, prosecutors and the FBI said.
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Gold Most Favored Investment This Year, World Gold Council Says
Bloomberg
Gold is the most favored investment this year ahead of investment-grade bonds and other assets, according to a survey of investment advisers, the producer-funded World Gold Council said. About 60 percent of the 31 advisers surveyed in Europe expect investors to take fewer risks this year compared with 2008, while about 30 percent expect investors to be less risk averse, the London-based council said today in a report. Almost 60 percent expect better market conditions this year.
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Why Silver Is Money
By: Jason Hommel, Silver Stock Report
I’m very honored to be here. My name is Jason Hommel. I’m the Editor of the Silver Stock Report. This last year, I started dealing in silver, selling silver, at www.seekbullion.com and I learned a lot more about the silver trade. My speech today is on why silver is money, even though no nation on earth uses silver as money. In other words, my speech is on why 99.9% of humanity is wrong, and why you are right! The words that mean “money”, and the words that mean “silver” are the same in most Romance languages. Silver is the only real money that there is.
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Silver; Past, Present, Future
Theodore Butler’s Speech at the Phoenix Silver Summit 2009
Good afternoon and thank you for being here. It’s an honor to get to speak with so many interested in silver, especially at such an interesting time in history. I’m going to ramble a bit, and try not to get too detailed and save some time for questions where you can get specific. I’d like to acknowledge a few people who are not here that had an awful lot to do with me being here today. First, I’d like to thank Jim Cook, from Investment Rarities in Minneapolis, for his sponsorship of my work for more than eight years. It was this support that enabled me to devote all my time to studying and contemplating everything I could about silver.
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Gold: More Strength on the Way
by Mary Anne and Pamela Aden
Gold shot up, reaching a nearly one year high today, and rapidly approaching its record high area. The ongoing current A rise that started last November is the strongest in this bull market and the strongest since 1999. Since this is an abnormally strong ‘A’ rise in an abnormal world recession, if gold reaches a new record high above $1004, gold will most likely be embarking on the start of a great bull market rise.
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Gold Consolidation Continues
by Joe Battaglia - Goldline
In early trading this morning as we await testimony from Fed Chairman Bernanke, we see gold down $10 and silver down $.10. Bernanke’s prepared statements indicate if the Congress and the Administration take the correct steps the recession may end this year and 2010 will be a year of recovery. However, he said it would take several years to return to some kind of a normal economy. Bernanke’s hopeful forecast contains a number of caveats, the main one being that officials must successfully break what he called an “adverse feedback loop” in which economic and financial strains become self-reinforcing.
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Articles provided by coinlink.com
Yesterday, February 25th, 2009 the Chinese Mint announced that they have reach the 600,000 limit on 2009 1 oz silver Chinese Pandas. Look for prices to increase. J&T Coins LLC still has a very limited supply of them for purchase.
Submitted by World Coin News
New circulating types (smaller):
Sizes comparison with previous types:
(images taken from eBay)
Visit 1800blogger to see all of our industry leading blogs.
New circulating types (smaller):
Sizes comparison with previous types:
(images taken from eBay)
By Javier Blas in New York
Published: February 25 2009 19:37 | Last updated: February 25 2009 19:37
The scarcity is lifting coin premiums to as much as 5 per cent above the spot gold price, a level reached briefly after the collapse of Lehman Brothers last September, when coin shortages also surfaced. More
Submitted by World Coin News
New circulating type:
(source of info and image: Michael Reissner)
Visit 1800blogger to see all of our industry leading blogs.
New circulating type:
(source of info and image: Michael Reissner)
A Distortion in the Gold Market Could Make You 200% This Year
By Dan Ferris, editor, Extreme Value
Have you tried to buy gold coins or bars in the last few months? If so, you already have a good idea of the “distortion” I’m going to tell you about today. Right now, the premiums on gold bullion coins and small gold bars have shot up to as much as 15%-20%, sometimes more. That’s if you can find any to buy. The reason: “Large purchases of coins are perhaps the ultimate sign of safe-haven gold buying,” said John Reade, a precious-metals strategist at UBS. I said the same thing to a MarketWatch reporter who called me up several weeks ago to talk about gold bullion. If this were a full-on, mom-and-pop gold mania, it’d be a sign of the top. But this is different.
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Market Uncertainty to Boost Gold Investment Demand
Wall Street Journal
Global financial-market uncertainty will likely continue underpinning investment demand for gold, the primary factor that boosted overall demand for the metal to more than $100 billion last year, an industry group said Wednesday. “We’re looking for continued strong investment demand…for as long as the economy remains in pretty dire circumstances,” George Milling-Stanley, official-sector director with the World Gold Council, told Dow Jones Newswires in an interview. His comments came in conjunction with the quarterly Gold Demand Trends report released Wednesday by the WGC, a marketing organization funded by gold mining companies.
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Little Recovery in Platinum Market Owing to Crisis
Reuters
Impala Platinum (IMPJ.J), the world’s No. 2 producer of the metal, posted a 14 percent rise in headline earnings to 8.77 rand per share for the first half despite lower output, but warned of weak demand ahead. Impala Platinum’s (Implats) earnings were boosted mainly by a weaker rand against the U.S. dollar during the six months to end December, but the group said production and cost performance had been “extremely disappointing”. Total platinum production for the group fell 14.8 percent to 878,000 ounces. This lower output and ongoing inflation resulted in unit costs rising by 36.9 percent to 8,681 rand per platinum ounce, the company said.
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Silver Is Information
Gold Eagle
The collapse of banks, currencies and the markets is not a failure of Biblically sound free market capitalism, because that has never existed. Rather, the collapse is a failure of fraudulent paper money systems based on usury. Usury is not “excessive” interest. Usury is not “excessive” profits. Usury is any interest on a loan. Any interest on a loan is excessive because of the mathematical insanity of compounding interest, or exponential growth of even 1% per year. If you invested an ounce of gold at 1/3 of 1%, 6000 years ago, you’d own all 5 billion ounces of gold in the world, and if you invested it at just over 2%, you’d own about all the atoms in the entire universe, it would all be gold, and it would all belong to you.
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Gold Amid Inflation and Deflation
SafeHaven
“Inflation and deflation are both a crisis in money. Which leaves gold as a secure store of wealth against both monetary panics…” THE 1970s DIDN’T JUST curse the world with cheap German wine and the Bay City Rollers. That decade gave us soaring inflation, too. Gold’s stellar run up to $850 per ounce, rising more than 24 times over, also came in the ’70s. So gold, therefore, must deliver its strongest returns when the cost of living shoots higher. Right?
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