Market Recap 3/5/10

The U.S. economy shed an additional 36,000 jobs in February. Although fewer jobs were lost than expected, the unemployment rate remained at 9.7%, according to The Wall Street Journal. An industry report said the U.S. manufacturing sector grew in February but at a slower rate than was expected.

The Commerce Department said on Monday that spending rose 0.5%, increasing for the fourth straight month, reported Reuters. Analysts polled by Reuters had expected consumer spending, which normally accounts for over two-thirds of U.S. economic activity, to increase 0.4% in January. “The message is continuing progress for the economy, if not as fast as hoped,” said Pierre Ellis, a senior economist at Decision Economics in New York.

MSN Money warned this week that the Federal Reserve’s recent increase in the discount rate may mean that higher interest rates are coming. Although the move came sooner than many had expected, it was a step toward more-normal conditions. The Fed stressed that the move doesn’t mean an imminent rise in the more-important federal funds rate. But despite those words, it’s a clear warning from the Fed that near-zero interest rates won’t last forever. This action has led some to speculate that U.S. consumers may begin to feel the pinch of inflation very soon, making precious metals all the more attractive as a hard asset.

Gold:
Spot gold prices opened this week at $1,119.00. The high during the week was on Wednesday, March 3rd, at $1,145.80, while the low for the week occurred on Monday, March 1st, at $1,112.10. Gold ended the week up $17.20 at $1,136.20. This week, Gold American Eagles, Canadian Gold Maple Leafs, and 1 oz. .9999 Pamp Suisse Gold Bars remained popular with investors.

Silver:
Spot silver prices opened this week at $16.62. Silver reached a high of $17.52 on Friday, March 5th, while the low for silver occurred on Tuesday, March 2nd, at $16.42. Silver ended the week up $0.80 at $17.42. This week, the most popular silver items included 1 oz. APMEX .999 Fine Silver Rounds, Silver American Eagles, and 1 oz. Silver Buffalo Rounds.

Platinum:
Spot platinum prices opened this week at $1,540.00 and ended the week up $41.90 at $1,581.90. 1 oz. Pamp Suisse Platinum Bars, Platinum American Eagles, and 1 gram Credit Suisse Platinum Bars were popular with platinum investors this week.

Palladium:
Spot palladium prices opened this week at $433.90 and ended the week up $48.50 at $482.40. Popular palladium products this week included 2009 Palladium Canadian Maple Leafs MS-69 NGC and 1 oz. .999 Fine Pamp Suisse Palladium Bars.

Featured Bullion Product:
Each week, APMEX features a different bullion product for the benefit of our readers. This week’s featured product is the Australian Gold Kangaroo from the Perth Mint.

Founded in 1899, the Perth Mint is a world leader in the innovative design and minting of precious metal products. The Perth Mint introduced the Australian Gold Kangaroo/Nugget series of bullion coins in 1987. From its beginning, this issue of coins had two unique features: these coins featured a 'two-tone' frosted design effect, and each coin was sealed in an individual hard plastic case. Issued as Australian legal tender, gold Kangaroos are a favorite with investors worldwide.

At first, the reverse of these coins displayed an Australian gold nugget. Then in 1989, the design was changed to feature a more world-recognized symbol of Australia — the kangaroo. The Australian Kangaroo designs vary every year, making these bullion coins highly sought after as collectibles. Struck from .9999 pure gold, Australian Kangaroos make a great addition to anyone's bullion position.

APMEX offers Australian Gold Kangaroo/Nugget coins in a variety of sizes, including 1 ounce gold coins and fractional gold coins in 1/2, 1/4, 1/10 and 1/20 ounce weights.

Market Recap 2/5/10

The U. S. economy has continued to shed jobs, which has cast doubts over the labor market's strength, according to the Wall Street Journal. United States employers cut 20,000 jobs in January, while December's number of job losses was revised from 85,000 to a drop of 150,000! The jobless rate, calculated using a household survey, fell to 9.7% last month from an unrevised 10% in December.

MSN Money stated Thursday that stocks plunged following the report that showed an unexpected rise in initial jobless claims. This caused the Dow Jones Industrial Index to drop below the 10,000 point mark for a short time. The precious metals market dipped as well, causing APMEX customers to take advantage of low spot prices as they scrambled to add to their gold, silver, platinum and palladium positions. Many customers may have viewed this retrenchment in prices as a short-term buying opportunity as they aggressively purchased all types of precious metal products.

The “I Heart APMEX” Video Contest kicked off this week and brought in dozens of video entries from the U.S. and Canada. APMEX fans rushed to get their entries in, some coming in within hours of the contest’s launch. Entrants are eligible for a chance to win a 1 oz. APMEX Gold Bar, an APMEX Silver Kilo (32.15 ounces) Bar, a 10 oz. APMEX Silver Round or one of several 1 oz. APMEX Silver Rounds. Check out the contest rules and submit your video today! You have until 11:59PM (CST) on Valentine’s Day (February 14th) to submit your entry.

Gold:
Spot gold prices opened this week at $1,081.10. The high during the week was on Wednesday, February 3rd, at $1,125.80, while the low for the week was $1,042.50 and it occurred on Friday, February 5th. Gold ended the week down $13.30 at $1,067.80. This week, the most popular gold items included Gold American Eagles, 1 oz. .9999 APMEX Gold Bars and Gold Canadian Maple Leafs.

Silver:
Spot silver prices opened this week at $16.17. Silver reached a high of $16.95 on Wednesday, February 3rd, while the low for silver occurred on Friday, February 5th, at $14.62. Silver ended the week down $0.97 at $15.20. 2010 Silver American Eagles, 1 oz. Silver Buffalo Rounds and 2010 Silver Canadian Maple Leafs were some of the most popular silver items sold by http://www.apmex.com/.

Platinum:
Spot platinum prices opened this week at $1,507.50 and ended the week down $27.50 at $1,480.00. Some of the most highly sought platinum products this week included 1 oz. Pamp Suisse .999 Fine Platinum Bars, Platinum American Eagles and 1 oz. Scotia Bank .999 Fine Platinum Bars.

Palladium:
Spot palladium prices opened this week at $418.00 and ended the week down $16.70 at $401.30. This week, 10 oz. .999 Fine Pamp Suisse Palladium Bars, 2009 Palladium Canadian Maple Leafs MS-69 NGC and Random Year 1 oz. Palladium Canadian Maple Leafs were popular with palladium investors.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we look at the Silver Austrian Philharmonic coins.

First minted by the 800-year-old Austrian Mint in 2008, the silver Austrian Philharmonic coin is the first silver bullion coin denominated in Euros, the legal tender of the European Union.

Elegant is the perfect word to describe this lovely and unusual silver bullion coin. These exquisite coins were created as a tribute to the world-renowned Vienna Philharmonic Orchestra, one of the finest musical ensembles in the world.

Almost identical to the popular gold Austrian Philharmonic coins, a harmonious design of musical instruments represents the world famous orchestra on the reverse of this silver coin. The obverse depicts the Great Organ of the Golden Hall in Vienna's concert hall.

APMEX offers silver Austrian Philharmonic coins dated during the current year and in prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 10 or more will be delivered in mint tubes, and orders of 500 or more come in sealed mint boxes when available.

Market Recap 01/15/10

The stock market saw significant losses this week as multiple companies reported fourth-quarter losses for 2009, including earnings bellwether Alcoa. “The aluminum giant posted a narrower loss but missed expectations, sending jitters through the market,” according to MSN Money.

In a report released this week by the U.S. Department of Labor, there were nearly 6.4 unemployed workers, on average, for each available job at the end of November. That number is a record high and it is up from 6.1 unemployed workers per job reported in October. When the recession began in December 2007, there were only 1.7 people without jobs for every opening, according to the Associated Press.

This week, the Fed said demand for loans either continued to decline or weakened further in much of the United States. Also, credit quality was still deteriorating and financial institutions in districts including New York, Philadelphia and Cleveland said loan delinquencies were on the rise.

This week, APMEX received very favorable reviews and high marks on the National Inflation Association’s website (http://inflation.us/), where a number of online precious metals dealers were rated. This unbiased review was launched by the NIA at the request of NIA Members seeking reputable online precious metals dealers.

Since the release of the APMEX “Gold Silver” iPhone application last week, over 6,000 iPhone and iPod Touch users have downloaded and installed the app. Ratings have been high and consumers have been reviewing the app with great positive comments. “This application is cutting edge,” said Mike Garofalo, Vice President of APMEX. “Mobile applications and hand-held computing is the wave of the future. APMEX is positioning itself to be the precious metals leader of the 21st Century.” The APMEX “Gold Silver” app not only provides live precious metal spot prices, but also displays up-to-the-minute BUY and SELL pricing on 40+ of the most popular bullion products at www.APMEX.com.

Gold:
Spot gold prices opened this week at $1,139.00. The high during the week was on Monday, January 11th, at $1,163.00, while the low for the week occurred on Wednesday, January 13th, at $1,118.50. Gold ended the week down $7.50 at $1,131.50. This week, Gold American Eagles, 2009 1/10 oz. Gold Krugerrands and 2009 1/10 oz. Gold Canadian Maple Leafs remain in the forefront of investor’s minds.

Silver:
Spot silver prices opened this week at $18.50. Silver reached a high of $18.85 on Monday, January 11th, while the low for silver occurred on Tuesday, January 12th, at $18.22. Silver ended the week down $0.04 at $18.46. This week, the most popular silver items included 1 oz. Silver American Eagles, 2010 1 oz. Silver Canadian Maple Leafs and 1 oz. APMEX .999 Fine Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,577.50 and ended the week up $21.60 at $1,599.10. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Credit Suisse Platinum Bars and 1/2 oz. Platinum American Eagles were popular this week.

Palladium:
Spot palladium prices opened this week at $428.00 and ended the week up $22.80 at $450.80. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars.


Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will look at the Silver Canadian Maple Leaf coin. Silver Maple Leaf coins are some of the world’s most recognizable silver bullion coins. First minted in 1988 and struck every year since, the Silver Canadian Maple Leaf coins contain one troy ounce of pure silver. They are minted in .9999 fine silver, making them one of the purest of all silver dollar-sized coins. These Maple Leaf coins are magnificently designed, with attention to every intricate detail. This has made the Silver Maple Leaf coin highly desirable by investors and collectors alike.

On the obverse, or front, there is a depiction of Great Britain’s Queen Elizabeth II. The reverse, or back, depicts the national symbol of Canada – the Maple Leaf. These stunning coins are backed by the Royal Canadian Mint for their purity, content and fineness.

APMEX offers a superb selection of Silver Canadian Maple Leaf coins in a variety of dates and special designs as produced by the Mint. Current dated coins purchased in quantities of 25 or more will be delivered in special mint tubes and quantities of 500 or more coins are shipped in the special Royal Canadian Mint boxes.

Market Recap 01/08/10

The stock market opened this week with a rally due to manufacturing gains in China and the United States. The market finished the day at its highest level since October 1, 2008, according to MSN Money. While precious metal prices and energy stocks led the way the rally was very broad.

But the market rally was short-lived, as the Labor Department issued a report showing the economy lost 85,000 jobs in December. The number of job losses was higher than expected and rekindled worries about the reality of an economic recovery. The overall unemployment rate was unchanged at 10% and according to David Katz, chief investment officer at Matrix Asset Advisors, “the economy continues to take three steps forward and two steps back.”

In a speech to the American Economic Association in Atlanta, Federal Reserve Chairman Ben Bernanke defended Fed moves during the recession and continued by saying, “the central bank has to be open to increasing interest rates to prevent future bubbles.” Due to this uncertainty, gold ended higher as it snapped a string of five weeks of losses. Nervousness about the possible economic recovery and the possible timing of interest rate increases “boosted the appeal of the metal as an alternative asset,” according to DailyWealth.com.

APMEX is very excited to start the New Year off with the release of its FREE iPhone Application. This new application not only provides live precious metal spot prices, it displays up-to-the-minute BUY and SELL pricing on 40+ of the most popular bullion products at APMEX.com. You can hold all of this information in the palm of your hand, and it comes from one of the most trusted online precious metal dealers in the nation.

Gold:
Spot gold prices opened this week at $1,099.00. The high during the week was on Wednesday, January 6th, at $1,141.00, while the low for the week occurred on Monday, January 4th, at $1,093.80. Gold ended the week up $40.00 at $1,139.00. This week, 1 oz. Gold American Eagles, 2009 1 oz. Gold Buffalo Coins and Random Year 1 oz. Gold Maple Leafs saw significant sales volume.

Silver:
Spot silver prices opened this week at $16.96. Silver reached a high of $18.53 on Friday, January 8th, while the low for silver occurred on Monday, January 4th, at $16.90. Silver ended the week up $1.54 at $18.50. This week, the most popular silver items included 1 oz. Silver American Eagles, 1 oz. APMEX Silver Rounds and 2010 1 oz. Silver Maple Leafs.

Platinum:
Spot platinum prices opened this week at $1,477.20 and ended the week up $105.80 at $1,583.00. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Scotiabank Platinum Bars and ½ oz. Platinum American Eagles were popular with platinum investors this week.

Palladium:
Spot palladium prices opened this week at $409.85 and ended the week up $22.55 at $432.40. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars.

Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will examine the South African Gold Krugerrand. It was the first gold bullion coin ever struck by any nation. These coins were originally minted in 1967 to help South Africa sell some of its vast gold reserves to investors around the world. The Krugerrand was also the world’s first gold coin that weighed exactly 1 Troy ounce and many worldwide investors purchased them to add a precious metal investment to their portfolios. These beautiful coins are struck in 22-karat gold and weigh just over one ounce. The additional metal is a copper alloy that was used to make the coins harder and more resistant to scratches. They have been minted continuously since 1967.

On the obverse, or front, of these coins is a portrait of Paul Kruger, the last President of the Republic of South Africa. The reverse, or back, of this coin depicts a Springbok Antelope, a beautiful creature that is one of South Africa’s national symbols. The name "Krugerrand" is a combination of Paul Kruger’s name and the word "rand" which is one of the monetary units of South Africa. These attractive coins are backed by the government of South Africa for their purity, content and fineness.

APMEX offers a great selection of South African Krugerrands dated the current year and in several prior years in Brilliant Uncirculated condition. Coins purchased in quantities of 20 or more will be delivered in special tubes.

Market Recap 12/24/09

While little news happened during this shortened holiday week, on Thursday, December 24th, Americans were welcomed with a Christmas surprise – and not the good kind.

CNN reported today that the U.S. Senate passed a $290 Billion increase to the legal debt limit allowed for the U.S. Treasury. Jeanne Sahadi, Senior Writer for CNNMoney.com stated, “If the Senate hadn't raised the debt ceiling before Dec. 31, the Treasury would likely have had to employ extraordinary measures to keep the debt below the ceiling to stave off default.” Having raised the debt ceiling to $12.394 Trillion, the U.S. has now witnessed the doubling of its national debt since 2000.

To default on that debt would unleash a chain of events that could devalue U.S. bonds and seriously harm the nation's reputation with creditors around the world. In a related article, Sahadi went on to say, “If the ceiling is ever breached, the country would effectively be in default. In the universe of financial things to avoid, it ranks as a ‘no good, very bad’ event.”

If this news wasn’t enough, Americans found a lump of coal in their Christmas stockings with the announcement that taxpayer backed mortgage companies, Fannie Mae and Freddie Mac, could award their top 10 executives with up to $40 Million in compensation according to CNNMoney.com.

With news like this, it’s no wonder that many Americans are turning to gold and silver to defend their portfolios against the strong probability of rising inflation for the New Year. Precious metals continue to witness significant buying activity fueled by declining optimism for a speedy U.S. economic recovery.

To end the year with some holiday cheer, APMEX launched its Annual I.R.S. – “Inventory Reduction Sale” on December 23rd. Many popular bullion items have undergone significant price reductions. We have clearly marked selected products throughout the website with a special “IRS Stamp” icon, so you can easily locate them. Buy your precious metals today at www.APMEX.com and have a very Happy New Year!

Gold:
Spot Gold prices opened this week at $1,113.90. The high during the week was on Monday, December 21st, at $1,119.00, while the low for the week occurred on Tuesday, December 22nd, at $1,074.70. Gold ended the week down $7.00 at $1,106.90. This week, 2009 1 oz. Gold American Eagles, 2009 1/10 oz. Gold American Eagles and 2009 1 oz. Gold American Buffalos saw significant sales volume.

Silver:
Spot Silver prices opened this week at $17.31. Silver reached a high of $17.55 on Thursday, December 24th while the low for silver occurred on Tuesday, December 22nd, at $16.77. Silver ended the week up $0.24 at $17.55. This week, the most popular silver items included 2009 1 oz. Silver American Eagles, 1 oz. Sunshine Minting .999 Fine Silver Rounds, 1 oz. .999 Fine Silver Buffalo Rounds and 1 oz. APMEX .999 Fine Silver Rounds.

Platinum:
Spot platinum prices opened this week at $1,433.90 and ended the week up $35.30 at $1,469.20. 1 oz. Pamp Suisse Platinum Bars, 1/10 oz. Platinum American Eagles and 1 oz. Credit Suisse Platinum Bars were popular with platinum investors this week.

Palladium:
Spot palladium prices opened this week at $370.90 and ended the week up $20.50 at $391.40. Popular palladium products this week included 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars.


Featured Bullion Product:
Each week, APMEX will review a different bullion product for the benefit of our readers. This week, we will review the most popular U.S. gold bullion coin. The Gold American Eagle coin was the first gold bullion coin ever struck by the United States. The minting of these coins began in 1986 and continues through today. These Gold American Eagle coins are issued in $50, $25, $10 and $5 denominations and they contain 1 Troy ounce of gold, 1/2 ounce of gold, 1/4 ounce of gold, and 1/10 ounce of gold, respectively.

On the obverse, or front, of the coin, Miss Liberty is depicted holding a torch and an olive branch with the U.S. Capitol in the background. This design was very slightly modified from the famous one created by renowned sculptor Augustus Saint-Gaudens. That design was first used on the $20 Double Eagle gold coins minted from 1907 until 1933. On the reverse, there is a depiction of a family of American Bald Eagles, which give the coins their name. These beautiful coins are backed by the United States Mint for their purity, content and fineness.

APMEX offers a complete selection of American Gold Eagle coins in a variety of denominations, in both Brilliant Uncirculated condition and in collector’s quality Proof condition. Coins purchased in quantities of 20 or more will be delivered in the special tubes that are used by the United States Mint. Quantities of 500 or more coins are shipped in the special red United States Mint boxes.

Market Recap 12/18/09

Despite skepticism about the stock market’s strength, precious metal and energy stocks led the way for a brief early-week rally. This short rally helped the Dow Jones Industrial Average and the NASDAQ Composite Index to reach new highs for the year, though worries continue about the stability of the global financial system. Prolonged U.S. housing market woes and continued high unemployment remain at the forefront of most recovery doubts for investors. According to MarketWatch, The Labor Department released reports midweek showing a second consecutive week of rising unemployment claims. Initial claims jumped 7,000 to 480,000, which was more than analysts had expected.

The Federal Reserve decided, yet again, to leave key interest rates unchanged at record low levels. The Fed’s rate-making body, the Federal Open Market Committee, left the target for its key federal funds rate at zero to 0.25%. However, the Central Bank did hint of expectations that interest rates will move up though no timetable for this action was given. The short early week stock market rally faded quickly after this announcement from the Fed.

A recent poll of 34 analysts, conducted by Reuters earlier this month, predicts Gold prices to stay firm in 2010. HSBC and Bank of America Merrill Lynch lifted their Gold forecasts this week. Daniel Major with RBS Global Banking & Markets said, “There are still fears of a spike in inflation in the background, as well as further uncertainty over the state of the economic recovery.”

As we move towards the end of the year, the demand for precious metals seems to be heating up as many investors are still highly concerned about inflation and the general state of the economy. Visit www.APMEX.com today and let us assist you in securing hard assets for your portfolio.

Gold:
Spot Gold prices opened this week at $1,114.40. The high during the week was on Thursday, December 17th, at $1,142.10, while the low for the week occurred on the same day, at $1,095.30. Gold ended the week down $0.80 at $1,113.60. This week, 2009 1/10 oz. American Gold Eagles, 2009 1 oz. BU Gold American Eagles and APMEX .9999+ Fine 1 gram Gold Bars were quite popular.

Silver:
Spot Silver prices opened this week at $17.18. Silver reached a high of $17.78 on Wednesday, December 16th while the low for Silver occurred on Friday, December 18th, at $17.05. Silver ended the week up $0.14 at $17.32. This week, 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and 2010 1 oz. Silver Vancouver Canadian Maple Leafs were very popular with investors and collectors alike.

Platinum:
Spot Platinum prices opened this week at $1,432.00 and ended the week up $0.70 at $1,432.70. Investors continue to purchase 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/10 oz. Platinum American Eagles, though quantities of these products are becoming quite scarce.

Palladium:
Spot Palladium prices opened this week at $366.15 and ended the week up $4.75 at $370.90. Popular Palladium products this week included 1 oz. Random Year Palladium Canadian Maple Leafs and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
After weeks of rising Gold prices, the momentum has slowed and seems to have leveled off as it is now hovering around the $1,100 per ounce mark. APMEX is continually adding to its inventory in order to meet the steady demand. The desire for all Gold products as well as Pre-1933 U.S. Gold has intensified. For more information on Pre-1933 U.S. Gold or the Gold American Eagle please watch our videos for those products posted on our website at www.APMEX.com.

APMEX continues to feature Silver Dollars and this week we will look at a coin that is sometimes forgotten. The 1894-O Morgan Silver Dollar was not struck until July 1894; however, once started, production was steady through December. With a mintage of 1.7 million pieces, this coin is relatively common, except in higher grades. These coins come with an above average strike and above average luster. Finding a mint state example with few bag marks, a strong strike, and above average luster is certainly a rare and rewarding find. Because of its generally dull appearance, the 1894-O is often overlooked.

The Treasury released bags of 1894-O Silver Dollars beginning in the 1950’s and continued those releases all the way up to 1964. Although there were multiple obverse and reverse dies used to produce these silver dollars, no major die varieties are attributed to this particular date and mintmark. Nonetheless, the 1894-O Morgan Silver Dollar is still a coin worth considering for your collection.

Market Recap 12/11/09

The U.S. Dollar showed some improvement early in the week as the Dollar Index was up by 0.07%. That was the major catalyst that pushed both oil and precious metal prices down for the first time in recent weeks.

Federal Reserve Chairman Ben Bernanke spoke at the Economic Club of Washington late Monday, stating that we will see modest economic growth next year but at a pace slower than we would like. Giving few concrete details, he went on to discuss the careful thought going into the Fed’s exit strategy for withdrawing the unprecedented monetary stimulus dollars from the economy. Well-informed investors will keep a close watch for developments on this topic, as it will help shape market trends in 2010.

In telling remarks this week, Treasury Secretary Timothy Geithner extended the government’s $700 Billion bailout fund to October 2010, saying the economy still faces “significant challenges.” “This extension is necessary to assist American families and stabilize financial markets because it will, among other things, enable us to continue to implement programs that address housing markets, the needs of small businesses, and to maintain the capacity to respond to unforeseen threats,” Geithner said. He also warned that withdrawing programs too early could prolong the economic downturn. These statements concerning the “continued programs” and “unforeseen threats” have many investors quite nervous, anticipating the inevitable inflation that comes with such government spending.

The recent pullback in precious metal prices provides a great opportunity to add to your precious metal positions. APMEX announced this week that 2009 Fractional American Gold Eagles are now in stock and ready to ship. Visit www.APMEX.com today and stock up on gold and silver before the next rally!

Gold:
Spot Gold prices opened this week at $1,159.70. The high during the week was on Tuesday, December 8th, at $1,169.30, while the low for the week was on Friday, December 11th, at $1,108.30. Gold ended the week down $44.10 to $1,115.60. This week, 2009 1/10 oz. American Gold Eagles, 2009 1 oz. BU Gold American Eagles and 2009 ¼ oz. Gold Australian Kangaroos saw significant traffic on the APMEX.com website.

Silver:

Spot Silver prices opened this week at $18.47. Silver reached a high of $18.50 on Monday, December 7th. The low for Silver occurred on Friday, December 11th, at $16.87. Silver ended the week down $1.28 to $17.19. This week, 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, 1 oz. .999 Fine Silver Sunshine Mint Rounds, and 2010 1 oz. Silver Vancouver Canadian Maple Leafs were very popular due to APMEX's Annual 12 Days of Christmas Sales Event.

Platinum:

Spot Platinum prices opened this week at $1,458.90 and ended the week down $22.00 to $1,436.90. Investors continue to snap up 1 oz. Pamp Suisse Platinum Bars, 1 oz. Platinum American Eagles and 1/10 oz. Platinum American Eagles.

Palladium:

Spot Palladium prices opened this week at $372.05 and ended the week down $8.05 to $364.00. Popular Palladium products this week included 1 oz. Random Year Palladium Canadian Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
Since our last post, the spot price of gold has been ever-changing - driven by various world news and the strength of the U.S. Dollar. But even with all the interest from customers, APMEX continues to have a good supply of products available. But, these products are moving quickly in spite of the recent market fluctuations.

APMEX is proud to be one of the first precious metals dealers to deliver 2009 Fractional American Gold Eagle coins to our customers, as we just received them this week! In addition, the herd of Gold American Buffalo coins is currently plentiful, but the numbers are dwindling as the spot price of gold has dropped. As always, Pre-1933 U.S. Gold is very popular, especially $2.50 Quarter Eagle coins and $20 Saint-Gaudens gold coins.

The spot price of Silver has also readjusted, though not as dramatically as gold. Opportunists are taking full advantage by stocking up on their favorite bullion and numismatic items, such as the Silver American Eagles, Very Good to Very Fine Morgan Silver Dollars and Peace Silver Dollars. Holiday Silver Rounds and Bars are also very popular as gift items.

This week, as APMEX continues its series on Silver Dollars, we will be highlighting the 1895-S. This particular year and San Francisco mintmarked issue is notorious for being extensively bag-marked. As a result, high-grade examples are always in high demand, carry a premium, and are almost always found in the lower mint state range. Circulated specimens are equally hard to find, as the mintage is very low with only 400,000 pieces struck. Sometimes, lower grade examples such as an AU-55 or AU-58, may be more attractive than even an MS-60 or MS-61. If you are lucky enough to find a high-end example, be sure that it carries tremendous eye appeal and is well struck, as most mint state 1895-S’s bear these qualities. The large majority of 1895-S coins were paid out within years of their production, yet there were a few bags that were held back as late as the 1950’s. On the other hand, many higher-grade 1895-S’s are either Proof-Like or Semi-Proof-Like. Often these coins are found without toning. There are no major VAM varieties to be found for this particular year, however, the few varieties that can be located carry a small additional premium.

Weekly Market Recap 11/20/09

The precious metals market saw tremendous gains early in the week as the U.S. Dollar continues to suffer under mounting international pressure. Gold reached a new all time high of $1,153.40 per troy ounce on Wednesday and Silver made steady increases as well.

The U.S. Dollar retreated further as the United States and China failed to reach an agreement over currencies at the summit of the Asia Pacific Economic Cooperation forum in Singapore. Thomas Hoenig, the Kansas City Federal Reserve Bank President, said Monday that "the U.S. economy still faced significant weakness." Additionally, Bank of New York Mellon analysts wrote in a note to clients "until such time as the U.S. and Chinese authorities signal meaningful changes to their respective economic and currency policies, we suspect that there will be little basis for any lasting recovery for the U.S. Dollar."

In a speech at the Economic Club of New York, Federal Reserve Bank Chairman Ben Bernake said, "Economic recovery would not be as robust as previously hoped, and rising unemployment and tight bank lending were significant headwinds." Housing starts declined by 10.6% in October which represented the biggest percentage drop since January. Economists had expected a rise in home starts, but starts are down 30.7%.

This weekend, APMEX is slashing prices even further for our Numismatic Closeout Event. As you may or may not know, APMEX will no longer be selling certain types of coins, currency, collectibles and supplies. This decision has been made to accommodate the growing requests from our customers for more precious metal and bullion-related items. If you are a collector, you should take advantage of this great opportunity to save even more money on your favorite numismatic items. A significant portion of our vast numismatic inventory has already been sold and at these prices these remaining products are not going to last long. Visit www.APMEX.com to see all of the price-reduced products included in the APMEX Numismatic Closeout Event!

Gold:
Spot Gold prices opened this week at $1,119.60. The high during the week was on Wednesday, November 18th, at $1,153.40, while the low for the week was on Monday, November 16th at $1,119.50. Gold ended the week with a gain of $27.20 at $1,146.80. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles, 1 oz. .9999+ Fine Pamp Suisse Bars and 2009 1 oz. Gold Canadian Maple Leafs lead the Gold rush!

Silver:
Spot Silver prices opened this week at $17.49. Silver reached a high of $18.85, on Wednesday, November 18th. The low for Silver occurred on Monday, November 16th at $17.47. Silver ended the week up $0.98 at $18.47. This week, 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, Sunshine Mint 1 oz. .999 Fine Silver Rounds and 1 oz. .999 Fine Silver Buffalo Rounds held steady as the most popular Silver products with investors at APMEX.

Platinum:
Spot Platinum prices opened this week at $1,393.80 and ended the week up $50.10, at $1,443.90. 1 oz. Pamp Suisse Platinum Bars, 1 oz. Credit Suisse Platinum Bars, 10 oz. Pamp Suisse Platinum Bars and 2009 1 oz. Platinum Canadian Maple Leafs continue to capture the attention of profit seeking investors.

Palladium:
Spot Palladium prices opened this week at $356.00 and ended the week up $10.40 at $366.40. Popular Palladium products this week included 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
It is almost impossible to ignore what the spot price of Gold has been doing lately. This week Gold broke yet another all-time high record as it climbed slightly past $1,150 per ounce. Because our customers have asked for them, APMEX has a wide variety of Gold products to choose from that are competitively priced and ready to ship, including 2009 Gold Buffalos, 2009 Gold American Eagles and the 2009 Gold Fractional Eagles set to be released by the U.S. Mint in early December. APMEX has also recently expanded its inventory of Pre-1933 Gold to accommodate the growing demand by investors and collectors nationwide.

While Gold has had the attention of the major financial media, the quiet giant, Silver, has made steady gains. APMEX has seen a spike in popularity for its numismatic Silver coins, including Cull Silver Dollars, Morgan Silver Dollars grading Very Good to Very Fine and Peace Silver Dollars grading Very Good to Very Fine. Keep in mind that these are bulk items and that individual Morgan and Peace Silver Dollars have seen an influx of interest, as these are some of the most popular U.S. coins to collect.

Over the past few months, APMEX has been highlighting a particular Silver Dollar to give both the collector and the investor a little better insight into why this series has, and perhaps always will be, so popular. This week we are highlighting the 1893-O. “O” is the mintmark that was used by the New Orleans Mint, which began striking Morgan Silver Dollars in 1879 and finished in 1904. The 1893-O is by far the lowest-minted New Orleans Silver Dollar. There were only 300,000 minted, all of which were struck in January of that year. Ten obverse dies were sent to the minting facility in New Orleans, but no new reverse dies were included as they had enough from the previous year. Because of this, there are really no major varieties to be found for this particular coin.

1893-O’s are generally not well struck and many have a lackluster surface. In addition to the poor eye appeal of this coin, most are speckled with a tremendous amount of bagmarks, which are tiny marks that occurred when the coins were stored in canvas bags inside the Mint facility. Even with these issues, these coins remain very popular and are considered a semi-key date for the Morgan Silver Dollar set. Coins grading MS-64 and above are extremely scarce, especially if you can locate one without many contact marks. Likewise, coins grading Fair-2 or Almost Good-3 are also extremely scarce, as they were not widely circulated. Coins in these grades should command a hefty premium due to such a low mintage. The top grading service in the nation, PCGS, has never graded an 1893-O as Poor-1 while they have only graded six in MS-65 and one in MS-66! Regardless of the coin or grade you choose to purchase, this particular date and mintmark could increase in value.

Weekly Market Recap 11/13/09

Gold continued its jump to new all-time highs this week as the U.S. Dollar was down against a basket of six major currencies. The G-20 finance ministers remained silent over the weekend about the U.S. Dollar’s 7% decline so far this year. The G-20 meeting did announce that they agreed to keep stimulus measures in place, as the global economy is still too weak, especially in the United States and in Europe.

Gold saw another upward price surge mid-week when the U.S. Dollar traded at 15-month lows according to Market Watch. Investors turned to Gold as a hedge against inflation as the U.S. Dollar slumped lower and prospects in the job market looked bleak. Contributing to the U.S. Dollar slump was China’s third quarter monetary policy report. The People’s Bank of China said on Wednesday it would consider major currencies, not just the Dollar, in guiding future exchange rates. These comments came days before President Obama’s visit to the region.

U.S. investment bank Goldman Sachs released a statement proclaiming Gold could rise to new record highs of $1,150.00 to $1,200.00 per ounce due to renewed buying of the precious metal by central banks. “The purchase by India (200 metric tons of Gold from the IMF) highlights the growing trend of central banks and governments in the emerging economies to increase gold holdings as a means of diversifying their currency reserves,” Goldman said.

The weakness in the U.S. Dollar has also created a bubble in the oil industry. Ethan Harris, head of global economics at Bank of America Merrill Lynch in New York said “What are the things that could derail the recovery? I think that an oil price bubble is near the top of the list.” Savvy investors will pay close attention to developments in the coming weeks to determine how heavily Gold should weigh in their portfolio.

Gold:

Spot Gold prices opened this week at $1,108.40. The high during the week was on Thursday, November 12th, at $1,123.40, while the low for the week was on Monday, November 9th at $1,096.00. Gold ended the week with a gain of $9.30 at $1,117.70. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles, 1 oz. .9999+ Fine Pamp Suisse Bars and 2009 1 oz. Gold Canadian Maple Leafs were in high demand at APMEX.com

Silver:

Spot Silver prices opened this week at $17.71. Silver reached a high of $17.78, on Thursday, November 12th. The low for silver occurred on Friday, November 13th at $17.02. Silver ended the week down $0.31 at $17.40. This week 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, Sunshine Mint 1 oz. .999 Fine Silver Rounds and 1 oz. .999 Fine Silver Buffalo Rounds were popular with silver investors.

Platinum:

Spot Platinum prices opened this week at $1,349.00, and ended the week up $40.70, at $1,389.70. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 10 oz. Pamp Suisse Platinum Bars, and 2009 1 oz. Platinum Canadian Maple Leafs.

Palladium:

Spot Palladium prices opened this week at $332.00, and ended the week up $25.80 at $357.80. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars were popular items purchased by palladium investors.

Numismatics:
As the price of Gold continues to reach all-time highs, APMEX continues to offer a vast selection of premium Pre-1933 Gold coins in addition to its already expansive Gold bullion selection. As the spot price of Gold continues to rise, investors and collectors alike are still clamoring for more of the yellow metal. Several Wall Street analysts are predicting the spot price of Gold may soon hit $1,200.00 to $1,500.00 per ounce. It was just 3 short months ago that Gold was hovering around $920.00 per ounce.

Though Gold has seen tremendous growth in the last few months, Silver has slowly crept toward the $20.00 per ounce plateau yet again. Many investors were buying strict Silver bullion items , but now they are also buying Cull Silver Dollars and an assortment of other dollars including Pre-1921 Morgan Silver Dollars in Almost Uncirculated condition, Peace Silver Dollars in Very Good to Very Fine condition, and Peace Silver Dollars in Brilliant Uncirculated condition. Keep in mind that these are just highlights of what has been selling well. Nearly all Silver Dollars have seen a spike in popularity.

For the past few weeks APMEX has been highlighting the Morgan Silver Dollar Series. This week we will shift gears and discuss the Peace Silver Dollar series: namely the 1923-D. The 1923-D Peace Silver Dollars typically come well struck with above average luster. These coins are commonly seen with unusual die cracks throughout the obverse and reverse as the pressure for striking these coins was greater than normal. Many VAM’s attributed to this date directly correlate to these die breaks. 1923-D’s, though they have a high mintage, or perhaps because of it, are plagued with a tremendous amount of bag marks which make this year nearly impossible to find as a flawless Gem quality specimen. Even those coins that have received an MS-65 grade may still have contact marks that are often times unsightly. 1923-D Peace Dollars are considered scarcer than most of the other dates in the 24 coin series in uncirculated condition. When purchasing a 1923-D Peace Dollar, always try to find an example that is well struck since there were over 6 million of them minted and most come with an exceptionally strong strike.

Weekly Market Recap 11/06/09

Gold reached an All-Time High as it broke the $1,100.00 an ounce threshold when the U.S. Labor Department announced the overall jobless rate had jumped to 10.2%! A total of 7.3 Million jobs have been lost since the recession began in December of 2007. Those 7.3 Million jobs equate to one in every 20 private sector positions being eliminated. Nearly 2 Million Americans are scheduled to lose their unemployment benefits by the end of the year.

This rise in the price of Gold came on the heels of another large gain this week when the Reserve Bank of India made the largest single gold purchase in the past 30 years. India purchased $6.7 Billion Dollars of Gold (200 Metric Tons) from the International Monetary Fund (IMF). The transaction is equivalent to 8% of the world’s annual mining production. India’s purchase is half of a planned purchase with the IMF and it surprised traders who expected China to be the most likely buyer. According to Reuters, India is the tenth largest holder of Gold amongst the central banks.

The Federal Reserve agreed to leave its key interest rates alone this week, stating that the economic recovery is still too tentative and needs help. The central bank’s interest rate is important because it is the foundation for which most U.S. interest rates are set. The Fed also highlighted four main issues that are troublesome: continuing job losses, sluggish incomes, a weak housing market and very tight credit.

Needless to say, the Gold inventory at APMEX is large, but items are selling very quickly based on all of this news. If you are considering adding additional Gold to your position, you may want to do it now.

Gold:

Spot Gold prices opened this week at $1,057.90. The high during the week was on Friday, November 6th, at $1,102.30, while the low for the week was on Monday, November 2nd, at $1,053.30. Gold ended the week with a gain of $40.60 at $1,098.50. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles and 2009 1 oz. Gold Canadian Maple Leafs were in high demand due to media coverage on Gold throughout the week.

Silver:

Spot Silver prices opened this week at $16.51. Silver reached a high of $17.64, on Friday, November 6th. The low for silver occurred on Monday, November 2nd at $16.27. Silver ended the week up $0.91 at $17.42. 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, 1 oz. .999 Fine Sunshine Minting Silver Rounds and 1 oz. .999 Fine Silver Buffalo Rounds were very strong sellers on the APMEX website.

Platinum:

Spot Platinum prices opened this week at $1,325.10, and ended the week up $25.70 at $1,350.80. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs, and 10 oz. Pamp Suisse Platinum Bars.

Palladium:

Spot Palladium prices opened this week at $322.50, and ended the week up $10.30 at $332.80. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars are quite popular with palladium investors.

Numismatics:

APMEX’s Numismatic Closeout sale is in full swing! Over 20,000 items have already been sold, however, there are still many great deals to be had. Not surprisingly, Morgan and Peace Silver Dollar VAM’s have been extremely popular. From the minor varieties to the major rarities, these coins have all been selling quickly across the board. To refresh your memory on VAM’s click here to read our blog post from a few weeks ago. In addition to VAM Silver Dollars being in high demand, Bulk Silver Dollars have been selling exceptionally fast. Alluding to yet another past blog post, Carson City Morgan Silver Dollars have also been selling well. No matter the grading service or the grade, Carson City Silver Dollars continue to capture the eyes of the collectors.

This week APMEX will feature another coin that came from the Carson City Mint. As most coin collectors know, Carson City coins often command hefty premiums. 1893 is the final year Morgan Silver Dollars were minted in Carson City. As this was the final year, there is much love and affection given to this particular coin. Many of these particular coins are heavily bagmarked. Most Mint State examples are on the low end of the Mint State scale, grading mostly MS-61 or MS-62. 1893-CC’s that grade higher than MS-63 are few and far between. To find a specimen with little or no bagmarks is an even tougher feat, and that will always come with an even greater premium. Most 1893-CC’s are in circulated condition and will fit nicely in any set. Many of these coins sat in Mint bags for 6 years until the Carson City Mint officially closed its doors and the remaining bags were shipped off to San Francisco and/or Washington D.C. where these bags, over time, were paid out to banks well into the 1920’s. With a mintage of only 677,000, this coin will always be high on a Morgan Silver Dollar collector’s want list.

Weekly Market Recap 10/30/09

Early in the week, Reuters reported that China said it should increase its holdings of Euros and the Japanese Yen in its foreign reserves. This report had a negative effect on the already slumping U.S. Dollar and is further evidence that our currency’s stability is in question throughout the world. The U.S. Dollar fell to a 14-month low against the Euro and the Japanese Yen this week.

Consumers are still very concerned about whether we will have an economic recovery or not. The Consumer Confidence Index dropped to lower-than-expected levels this month, surprising some economists. Reuters reported that there are growing concerns that the job market conditions will worsen in the near term. The director of The Conference Board of Consumer Research Center reaffirmed this report by saying that the short-term outlook has grown more negative. Meanwhile, a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead.

This week, more Americans who were surveyed said that jobs were “hard to get” in October and they remain quite pessimistic about their future earnings. This may have a negative impact on holiday spending. Economists watch consumer confidence because spending on goods and services by Americans accounts for about 70% of U.S. economic activity by federal measures. The upshot of all of this bleak economic news is that more investors than ever before are increasingly relying upon precious metals as the “defensive asset” component in their investment portfolios.

APMEX announced its Numismatic Closeout Event this week. APMEX will no longer be selling certain types of coins, currency, collectibles and supplies. This decision has been made to accommodate the growing requests from our customers for more precious metal and bullion-related items. If you are a collector, take advantage of this great opportunity to save big money on your favorite numismatic items. At these prices, many products are not going to last long. Visit www.APMEX.com to see all of our price-reduced products.

Gold:

Spot Gold prices opened this week at $1,054.00. The high during the week was on Monday, October 26th, at $1,070.50, while the low for the week was on Wednesday, October 28th at $1,026.10. Gold ended the week with a small loss of $8.00 at $1,046.00. This week, 2009 1 oz. Gold American Eagles, 2009 Fractional American Gold Eagle Coins, 2009 1 oz. Gold Buffalo Coins and 1 gram APMEX Gold Bars were the most popular items purchased.

Silver:

Spot Silver prices opened this week at $17.67. Silver reached a high of $17.70 on Monday, October 26th. The low for silver occurred on Thursday, October 29th at $16.12. Silver ended the week down $1.34 at $16.33. This week 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and APMEX 1 oz. .999 Fine Silver Bars were the most popular silver bullion items purchased at APMEX.com.

Platinum:

Spot Platinum prices opened this week at $1,369.00, and ended the week down $37.10 at $1,331.90. Many collectors have noted the U.S. Mint’s decision not to strike any additional Platinum Eagle coins for the remainder of this year. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1 oz. Platinum American Eagles.

Palladium:

Spot Palladium prices opened this week at $338.50, and ended the week down $16.00 at $322.50. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars were popular with investors.

Numismatics:
As we enter November and the days become shorter and colder, the pace of business at APMEX has been heating up! In recent weeks, Cull Silver Dollars have been a big seller, especially since the spot price of silver has dropped slightly, along with the temperature.

An important business note is that APMEX is officially limiting the types of numismatic items that it will offer in the future. To accommodate that fact, we are having a “Numismatic Closeout Event” on many different numismatic products. APMEX will continue to buy and sell Silver Dollars, Pre-1933 U.S. Gold, 40% and 90% Silver coins, and everything else that is bullion-related. We will be closing out Type Coins, Commemoratives, Proof Sets, Currency, Books, Supplies and many other categories. There are many fantastic closeout deals available. You should act fast before the coins you want disappear!

Continuing our analysis of Silver Dollars, we would like to discuss one of the “Most Common” and yet, “Most Beautiful” of all of the Morgan Silver Dollars – the 1881-S. This is a relatively common coin, but it is RARE to ever find one below Very Fine grade! With a mintage of 12,760,000 coins struck, the "81-S" is certainly available in grades up to and including MS-67. This date is typically very well-struck with booming luster and a cartwheel effect that sometimes requires sunglasses to view it! It is generally a very attractive coin that is always sure to please the most discriminating investor or collector. This coin, along with its other San Francisco brethren – the 1879-S, 1880-S, and 1882-S are some of the earliest and most beautiful coins in the Morgan Dollar series.

Weekly Market Recap 10/23/09

ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday that gold prices could rise to a high of $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth, as reported to Reuters.

The unemployment rate has been increasing at an alarming rate, yet the Dow continues to move a bit higher. According to Bloomberg.com, the economy has lost 7.2 million jobs since the start of the recession and the trend is still going the wrong way. The country’s unemployment rate will reach 10% by the first quarter of 2010, says a U.S. economist, and the Labor Department said that 15 states already had an unemployment rate above 10%. Stocks have been moving upward, but the reporting is clouded by earnings that have risen only because companies have cut their costs deeper than falling revenues. Real improvement and growth will not be visible until the economy allows for new business, increased revenue and new customers.

The U.S. Dollar continues its roller coaster ride, as even more discussions from around the globe about the “Dollar Crisis” surface. According to the Treasury Department, the U.S. Dollar has fallen 15% in just seven months against a basket of the world’s major currencies. Should the trend move downward another 6%, it will exceed the all time lows. Many experts believe that inflation is inevitable due to interest rates staying at or near zero for quite some time.

The rising cost of oil is also troublesome this week. The U.S. Energy Secretary said that the rising cost of oil could damage the world economy just as it begins to rebound. In addition, he said that a sharp upswing in oil prices could hinder a global economic recovery and pointed out that last year’s oil price spike was a disaster for the world economy.

This week, APMEX was proud to announce that it was one of the first precious metal dealers to be able to pre-sell the 2009 Fractional American Gold Eagle coins to its customers. These highly anticipated coins will likely sell out quickly, so buy yours today before it’s too late. This weekend, APMEX is also rolling out its “WOW Weekend” promotion. Customers will be able to take advantage of 10–ounce .999 Fine APMEX Silver Bars at only $0.69 per ounce over spot in any quantity. The sale goes through Sunday, October 25th, at midnight, or while supplies last, so purchase yours now. APMEX would like to thank its customers for their continued business and let them know that we look forward to fulfilling all of their precious metal needs in the future.

Gold:

Spot Gold prices opened this week at $1,049.60. The high during the week was on Friday, October 23rd, at $1,068.50, while the low for the week was on Wednesday, October 21st, at $1,048.10. Gold ended the week with a gain of $6.00 at $1,055.60. This week, 2009 1/10th oz. Gold American Eagles, 2009 1 oz. Gold Buffalo Coins and 1 oz. Random Year Gold American Eagles were the most popular items investors purchased.

Silver:

Spot Silver prices opened this week at $17.48. Silver reached a high of $17.97 on Friday, October 23rd. The low for silver occurred on Thursday, October 22nd at $17.38. Silver ended the week up $0.23 at $17.71. This week, investors concentrated on 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and 1 oz. Sunshine Minting Silver Rounds.

Platinum:

Spot Platinum prices opened this week at $1,348.50, and ended the week up $15.10 at $1,363.60. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1/10 oz. Platinum American Eagles were popular in steady trading.

Palladium:

Spot Palladium prices opened this week at $331.00, and ended the week up $7.00 at $338.00. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars are consistently popular palladium items.

Numismatics:
As bullion continues its upward trend, more and more investors are eagerly buying physical assets such as bullion gold and silver. Since APMEX broke the news about the availability of the Fractional American Gold Eagle coins, they have taken up most of the headlines. Not to be outdone, silver is quietly gaining ground.

Cull Silver Dollars remain strong and coins such as the 1921 Morgan Silver Dollars in circulated collector’s grades and Peace Silver Dollars in Very Good to Extra Fine condition are once again very popular. The common date Morgan and Peace Silver Dollars in higher grades that are graded by a third-party grading service are also selling well. These items continue to make a lasting impression on the investing public.
Morgan Silver Dollars are arguably the most collected coin in the world.

Last week, we shifted gears to accommodate a collector’s point of view and talked about VAM varieties. This week, we will highlight a beautiful coin from the Carson City Mint which produced Morgan Silver dollars from 1878 to 1893. As most coin collectors know, coins from the Carson City Mint generally command quite a premium. 1878 was the first year that Morgan Silver Dollars were minted and that was also the first year that these coins were produced in Carson City, Nevada.

This coin was struck with a "Reverse of 1878" die variety which has a parallel top arrow feather and seven tail feathers. The 1878-CC had the second highest Carson City mintage with 2.2 million coins minted. It is one of the more consistently well struck coins in the entire Morgan series with very pleasing luster. Due to the fact that this is the first year of issue, well struck, and generally pleasing to the eye, this has always been a popular coin with collectors.

Weekly Market Recap 10/09/09

This week, Gold broke through its all time high and set a new benchmark at $1,061.10 per ounce. Concerns about the weakened U.S. Dollar and a second economic downturn, along with increased risk of higher inflation, were the leading causes for the commodities boost this week. Other factors had an impact as well, such as former Federal Reserve Chairman Alan Greenspan’s comments that unemployment will continue to rise in the United States for some time.

Rumors of Gulf Arab states along with Russia, China, Japan and France replacing the U.S. Dollar as the standard for trading oil surfaced in London this week. Though this report was later denied, the U.S. Dollar dropped even further, which in turn increased precious metals appeal to investors.

A Bank of America Merrill Lynch analyst has predicted that Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above the $100 a barrel mark. Additionally, Francisco Blanch, head of Global Commodity Research, said that for the world economy to resume growth of 5%, commodity supplies will have to expand by a similar rate which will create shortages due to emerging market growth. Savvy investors will pay close attention to these events and use precious metals as a hedge against inflation.

This week, the United States Mint announced that it will offer for sale 2009 one-ounce American Buffalo Proof Gold Coins and one-ounce American Eagle Platinum Proof Coins. The tentative release dates for these products are October 29th and December 3rd, respectively. In addition, the mint will release one-ounce 2009 American Buffalo Gold Bullion Coins on October 15th and the fractional 2009 American Eagle Gold Bullion Coins in the one-half, one-quarter and one-tenth ounce weights on December 3rd.

This week, APMEX customers took advantage of low premiums on 2010 Silver Canadian Maple Leafs. They also had the opportunity to pre-order their 2009 American Buffalo Gold Bullion Coins. Both offers had a very high response due to recent economic events that make the flight to precious metals extremely attractive. To view a full list of bullion items, visit APMEX.com — the Gold Standard in Bullion Trading.

Gold:
Spot Gold prices opened this week at $1,001.20. The high during the week was on Thursday, October 8th at $1,061.10, while the low for the week was on Monday, October 5th at $1,001.20. Gold ended the week with a gain of $48.90 at $1,050.10. This week, 2009 1-oz. American Gold Buffalos Coins, 2009 1-oz. Gold American Eagles and Random Year 1-oz. Canadian Gold Maple Leafs saw tremendous demand in an upward market.

Silver:
Spot Silver prices opened this week at $16.20. Silver reached a high of $17.95 on Thursday, October 8th. The low for silver occurred on Monday, October 5th at $16.03. Silver ended the week up $1.55 at $17.75. This week 2009 1 oz. Silver American Eagles, 2010 1-oz. Canadian Silver Maple Leafs and 1 oz. APMEX .999 Fine Silver Bars held their own in the gold rush.

Platinum:
Spot Platinum prices opened this week at $1,284.00, and ended the week up $55.00 at $1,339.00. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1-oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $300.50, and ended the week up $23.60 at $324.10. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10-oz. Credit Suisse Palladium Bars continue to keep the eye of focused investors.

Numismatics:
It is of great interest this week to note that the spot price of Gold, and to a lesser degree that of Silver, has been soaring. Collectors and investors alike have been clamoring for both metals. APMEX has a wide variety of choices which have been selling very quickly as many financial advisers and analysts believe this is only the beginning of a historic rise in the metals market.

APMEX’S best seller this week in terms of numismatic silver has been Cull Silver Dollars which are a mixture of both the Morgan and Peace series. These coins contain 90% silver and are selling as low as $1.69 over melt. This is an excellent investment if you are looking to create a position in silver. As the spot price of silver continues to rise, so does the value of dollars in Almost Uncirculated and Brilliant Uncirculated conditions. These coins can be purchased for their collector value, but they are also purchased quite steadily for their bullion value as well.

This week APMEX will highlight the 1921 Peace Silver Dollar. This year was a transitional year for the US Mint. It had struck Morgan Silver Dollars for the first time in 16 years, but it was also the last time. Between December 28th to the 31st 1,006,473 1921 Peace Silver Dollars were minted.

The coin, designed by Anthony de Francisci, was struck in high relief, which means that the design was even with or above that of the rim. This caused an extremely weak strike on the examples that were struck later, as the pressure to strike each coin was lessened. The evidence is most noticeable on the Obverse around the ear and on the Reverse where it lacks feather detail on the eagle’s breast. Many Uncirculated 1921 Peace Dollars are graded as Extra Fine or Almost Uncirculated incorrectly, because of this weak strike. A large number of the 1921 Peace Dollars do not have blazing luster as one would expect to see on uncirculated specimens, while others, exhibit overwhelming luster. This is one of the few key dates in the Peace Silver Dollar series and there has always been a high demand for these coins as it was struck in high relief and it is the first year of issue. This is a highly collectible series as it is America’s last 90% silver dollar!