The U.S. Stock Market traded in a narrow range during the year’s final week, further shortened by the New Year holiday on Friday. Few major reports were released this week, which kept volume in the market light. However, stocks did trend slightly lower on Tuesday, breaking six days of consecutive gains, which was the result of a Housing Report that showed continued struggles moving into the new year, according to MSN Money.
These housing struggles were partially confirmed late in the week, as Reuters reported that GMAC Financial Services received $3.8 Billion in additional government aid on top of the $12.5 Billion of taxpayer money it had already received. This infusion of government bailout money refueled concerns about the general health of the lenders and “will boost the federal government’s ownership in GMAC to 56 percent, from 35 percent,” according to the Huffington Post.
With continued housing woes, increasing government bailouts and much concern over the Health Care Reform legislation, many investors are cautious as 2010 approaches. Many continue to look to gold as a respite from encroaching inflation and the lingering uncertainty of economic recovery. Gold ended the year up 25 percent, according to Reuters.com, with the “biggest absolute annual gain in three decades with a small advance on Thursday, rising for an unprecedented ninth year in a row.”
APMEX wants to wish all our customers a safe and prosperous New Year. We look forward to helping you achieve your precious metal investment goals in 2010. Over the New Year’s holiday, we hope that you are able to take advantage of 2010 Gold and Silver American Eagles pre-sale, going on now at www.APMEX.com.
Gold:
Spot Gold prices opened this week at $1,108.80. The high during the week was on Monday, December 28th, at $1,113.50, while the low for the week occurred on Wednesday, December 30, at $1,086.60. Gold ended the week down $10.70 at $1,098.10. This week, 2009 1 oz. Gold American Eagles, 1 gram Sunshine Minting Gold Bars and Random Year 1 oz. Gold Maple Leafs were popular with gold investors.
Silver:
Spot Silver prices opened this week at $17.54. Silver reached a high of $17.61 on Monday, December 28th, while the low for silver occurred on Wednesday, December 30th, at $16.79. Silver ended the week down $0.60 at $16.94 This week, investors purchased 2009 1 oz. Silver American Eagles, 2010 1 oz. Silver Maple Leafs, and 1 oz. Sunshine Minting Silver Rounds.
Platinum:
Spot platinum prices opened this week at $1,471.00 and ended the week down $9.00 at $1,462.00. The most popular platinum products this week were 1 oz. Pamp Suisse Platinum Bars, 1/4 oz. Platinum American Eagles and 1 oz. Scotiabank Platinum Bars.
Palladium:
Spot palladium prices opened this week at $386.85 and ended the week up $23.95 at $410.80. 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 review the most popular U.S. silver bullion coin.
The American Silver Eagle coins are backed by the United States Government for their purity, content and fineness. These beautiful coins were the first silver bullion coins ever struck by the United States. The minting of these coins began in 1986 and continues through today. These coins are struck in .999 fine silver and each weighs 1 Troy ounce.
A depiction of a walking Miss Libery graces the obverse, or front, of these silver bullion coins. This design was the same one created by famed sculptor Adolph Weinman that was used on U.S. Half Dollar coins from 1916 until 1947. The reverse, or back, of this coin depicts a Bald Eagle with a shield and 13 stars above it.
APMEX offers a complete selection of American Silver Eagle coins in virtually all years, 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 same special tubes as used by the United States Mint. Quantities of 500 or more coins are shipped in the special green United States Mint boxes.
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.
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.
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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.
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.
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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.
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.
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.
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Market Recap 12/04/09
Early in the week, Wall Street closely watched sales results from the first official shopping weekend of the holiday season. The National Retail Federation reported that on average, consumers spent 8% less than a year ago, confirming the fact that the recession is still affecting consumer confidence. Reuters.com reported, “Consumer spending makes up roughly 70% of the U.S. economy and (that) will determine how quickly the country can recover from a recession,” said Torsten Slok, an economist at Deutsche Bank. Additionally, the ABC News Consumer Comfort Index came in at -45 on a scale of +100 to –100, which puts the index on track for the worst year in its 23-year history. During this week, gold surged upward, hitting a new all-time high of $1,227.00 per ounce.
Late in the week, however, all precious metals prices saw an unexpected pull back, likely driven by better than expected jobless rates and a rally in the Dollar Index, according to Bloomberg. This consolidation provides a unique buying opportunity as investors look to add more gold to their positions. Many investors remain very bullish on gold due to the continued threat of significant inflation.
MarketWatch.com reported early this week, “Gold prices could hit $1,500 as global plans to rescue the financial industry are set to increase inflation pressure.” This statement was according to analysts at Merrill Lynch. "The unintended consequence of the ongoing financial bailout will be a return of inflationary pressures to the commodity markets," wrote the analysts in a note released Monday.
The APMEX “12 Days of Christmas” began on Cyber Monday, November 30, 2009. Customers are able to take advantage of great pricing and low premiums on some of APMEX’s most popular bullion products. Pay close attention to your inbox and don’t miss out on this great opportunity to save.
Gold:
Spot Gold prices opened this week at $1,178.80. The high during the week was on Thursday, December 3rd, at $1,227.00, while the low for the week was on Friday, December 4th, at $1,147.40. Gold ended the week down $16.80 at $1,162.00. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles and 2009 1 oz. Gold Buffalos sold en masse, as gold fever heated up!
Spot Gold prices opened this week at $1,178.80. The high during the week was on Thursday, December 3rd, at $1,227.00, while the low for the week was on Friday, December 4th, at $1,147.40. Gold ended the week down $16.80 at $1,162.00. This week, 2009 1/10 oz. Gold American Eagles, 2009 1 oz. BU Gold American Eagles and 2009 1 oz. Gold Buffalos sold en masse, as gold fever heated up!
Silver:
Spot Silver prices opened this week at $18.40. Silver reached a high of $19.48 on Thursday, December 3rd. The low for silver occurred on Monday, November 30th, at $18.12. Silver ended the week up $0.10 at $18.50. This week, 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs, and 1 oz. .999 Fine Silver Buffalo Rounds followed in the footsteps of gold, as the silver market heated up too.Platinum:
Spot Platinum prices opened this week at $1,453.90 and ended the week down slightly at $1,448.00. 1 oz. Pamp Suisse Platinum Bars, 1 oz. BU Platinum American Eagles and 1 oz. Pamp Suisse Platinum Bars remain popular products with investors.
Palladium:
Spot Palladium prices opened this week at $371.00 and ended the week up $5.00 at $376.00. 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:
APMEX has a superb selection of Pre-1933 U.S. Gold to accommodate both the investor and collector. Though gold may advance and retreat slightly, it seems it is no longer a far fetched analytical prediction that gold could reach the $1,500.00 per ounce milestone, based on many analysts’ predictions and the recent surge to new all-time highs.
APMEX has a superb selection of Pre-1933 U.S. Gold to accommodate both the investor and collector. Though gold may advance and retreat slightly, it seems it is no longer a far fetched analytical prediction that gold could reach the $1,500.00 per ounce milestone, based on many analysts’ predictions and the recent surge to new all-time highs.
Silver, though it has not garnered as much news coverage, has also seen significant increases in spot price over the past few weeks. APMEX is always buying Silver Dollars in any condition, as demand has generally outweighed supply. Morgan Silver Dollars grading from Very Good to Very Fine are extremely popular, as are Peace Silver Dollars in the same grade range. Virtually any silver coins, including 90% and 40% Silver coins, are moving fast in the current market!
APMEX continues its review of the Silver Dollar series. We will be taking a close look at the 1891-CC variety. The 1891-CC is one of the most common Silver Dollars to be minted at the Carson City Mint, however, all “CC” Silver Dollars are fairly scarce. This coin is usually very lustrous and has great eye appeal. Many choice examples may be found in uncirculated condition. Most coins of this year were immediately released into circulation, so there is a plentiful array of 1891-CC’s in circulated grades. The Silver Dollars that were not released into circulation were bagged up and held by the U.S. Treasury until the 1940’s and 1950’s when they were eventually paid out, yielding a great new supply for numismatists.
Though there are many die varieties attributed to the 1891-CC, one variety demands attention due to its name. The “Spitting Eagle”, or VAM-3 as it is also known, is a very popular variety among Silver Dollar enthusiasts. On the Reverse of this variety there is a tiny die gouge resembling saliva just below the eagle’s beak. This die gouge gives this variety its attention grabbing name. Even though the “Spitting Eagle” is a quite common variety, it remains one of the more popular VAM’s due to its unique name and visual appeal to children and adults alike.
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