Worries about economic stability were ever present this week as the market fluctuated on mixed reporting. Early in the week The Institute for Supply Management released its Manufacturing Index Report showing a 10th consecutive month of contraction. This report is seen by investors as an indication that business is still getting worse in the U.S. and that a turnaround is not in the near future.
The American Bankruptcy Institute reported mid-week that filings jumped 34.3% from a year ago, the highest increase since the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented in 2005. This report is further proof that many Americans are still struggling to make ends meet.
Late in the week the Labor Department reported the unemployment rate fell for the first time since April 2008. This data, however, is contradictory to early and mid-week reporting, reinforcing the fact that there is still no clear direction in the market.
This week, APMEX introduced an expanded selection of Pre-1933 Gold to its customers. These beautiful numismatic coins present a great opportunity for you to add to your collection. To see a full list of Pre-1933 Gold visit click here!
Gold:
Spot Gold prices opened this week at $957.50. The high during the week was on Thursday, August 6th at $971.90, while the low for the week was on Tuesday, August 4th at $952.10. Gold ended the week with a loss of $1.10 at $956.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $13.90. Silver reached a high of $15.05 on Thursday, August 6th, while the low for silver was at the beginning of the week Monday August 3rd, at $13.90. Silver ended the week with a gain of $0.78 at $14.68. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1215.90, and ended the week up $46.20 at $1262.10. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.
Palladium:
Spot Palladium prices opened this week at $265.00, and ended the week with a gain of $14.10 at $279.10. This week, the most popular of these products are 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics:
The resurgence in the spot metal prices for gold and silver added some fuel to the fire of numismatics this week. As dealers and collectors wound their way west to Los Angeles for the American Numismatic Association’s annual summer convention, there was great anticipation about the current upward direction of the numismatic marketplace. The pre-ANA auctions all showed considerable strength for many types of coins.
Classic Commemorative coins overcame their doldrums of earlier this year and were, as one report put it, “on fire” at the pre-ANA auctions. For example, a 1926 Sesquicentennial Half Dollar in MS66 grade is wholesale bid at $16,000.00; yet one MS-66 graded example brought $43,125.00 – 2.7 times the current bid price at one of the auctions! While not all commemorative coins brought such significant premiums, many other examples sold at prices much higher than current bids.
Morgan Silver Dollars always enjoy strong collector and investor support and this week was no exception to that rule. But what is unusual is what is in demand and what is out of favor. Some of the more common dated coins are improving in price and are eagerly being sought, while many other better date coins were weaker in price. While that seems fairly unusual, such is the nature of the ever-changing coin market. Always remember that all markets are cyclical and that the coin market is no exception!
Showing posts with label Rare US Coins. Show all posts
Showing posts with label Rare US Coins. Show all posts
Weekly Market Recap 07/10/09
Stock market trading was lighter than normal this week as many investors are still waiting for a signal of a firmer economy. Early in the week, oil prices hit a six week low, which sparked concerns that economic recovery still may be in the distant future. The University of Michigan released a report late in the week showing American consumer confidence has fallen to 64.6 in July from 70.5 in June. Talks of a second Federal Stimulus Package surfaced this week confirming doubts that the tide has not turned for the economy.
Due to overwhelming positive feedback, the Summer Inventory Blowout Sale has been extended through the weekend. The extension allows metal investors and numismatic collectors the opportunity to continue to save up to 75% off regular prices on selected items marked with the “Firecracker” icon. To take advantage of these great prices visit www.APMEX.com.
Here is a brief overview of the highs and lows for the week.
Gold:
Spot Gold prices opened this week at $934.30. The high during the week was the market open on Monday, July 6th at $934.30, while the low for the week was on Wednesday, July 8th at $904.80. Gold ended the week down a bit at $913.40. This week 1 oz. 2009 Gold American Eagles, 2009 Gold Maple Leafs and 1oz. Pamp Suisse Gold Bars were popular items with investors.
Silver:
Spot Silver prices opened this week at $13.42. Silver reached a high of $13.48 on Monday, July 6th, while the low for silver occurred on Wednesday, July 8th, at $12.74. Silver ended the week at $12.70. This week 1oz. 2009 Silver American Eagles, 1oz. Silver Buffalo Rounds and 5 oz. Silver APMEX Rounds were quite popular, as were many silver items included in the Summer Blowout sale.
Platinum:
Spot Platinum prices opened this week at $1186.20, and ended the week down a bit at $1108.20. Many investors continue to be keenly interested in platinum. This week 1oz. Pamp Suisse Platinum Bars, 1oz. 2009 Platinum Maple Leafs and 1 oz. Scotiabank Platinum Bars were in high demand at APMEX.com
Palladium:
Spot Palladium prices opened this week at $250.00, and ended the week down a bit at $238.45. The most popular of these products this week were; 1oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1oz. Palladium Canadian Maple Leafs.
Numismatics:
Typically during the Summer season, prices will remain level as many dealers and collectors take a well-deserved breather from their active pursuit of numismatics. That does not seem to be the case this year! Although precious metals prices are a little bit lower than in recent weeks, demand has not abated. Common date US Gold Coins are extremely active on both the wholesale and retail markets, while rare date gold coins have weakened slightly.
Key date coins are also continuing to remain popular and in demand. A well-known key date silver coin, the 1916-D Mercury Dime, is particularly popular and it is one that all Dime collectors need! Early date specimens of Walking Liberty Half Dollars are also a quick-selling commodity. Continuing the “key date” trend is the 1893-S Morgan Silver Dollar, a rare coin that continues to advance in price almost regardless of grade!
Early Type Coins have finally retrenched and prices are starting to soften, after many months of very strong price advances. However, we are unsure whether this softening is the start of a correction or a temporary aberration. This may prove to be an excellent opportunity to purchase coins.
Due to overwhelming positive feedback, the Summer Inventory Blowout Sale has been extended through the weekend. The extension allows metal investors and numismatic collectors the opportunity to continue to save up to 75% off regular prices on selected items marked with the “Firecracker” icon. To take advantage of these great prices visit www.APMEX.com.
Here is a brief overview of the highs and lows for the week.
Gold:
Spot Gold prices opened this week at $934.30. The high during the week was the market open on Monday, July 6th at $934.30, while the low for the week was on Wednesday, July 8th at $904.80. Gold ended the week down a bit at $913.40. This week 1 oz. 2009 Gold American Eagles, 2009 Gold Maple Leafs and 1oz. Pamp Suisse Gold Bars were popular items with investors.
Silver:
Spot Silver prices opened this week at $13.42. Silver reached a high of $13.48 on Monday, July 6th, while the low for silver occurred on Wednesday, July 8th, at $12.74. Silver ended the week at $12.70. This week 1oz. 2009 Silver American Eagles, 1oz. Silver Buffalo Rounds and 5 oz. Silver APMEX Rounds were quite popular, as were many silver items included in the Summer Blowout sale.
Platinum:
Spot Platinum prices opened this week at $1186.20, and ended the week down a bit at $1108.20. Many investors continue to be keenly interested in platinum. This week 1oz. Pamp Suisse Platinum Bars, 1oz. 2009 Platinum Maple Leafs and 1 oz. Scotiabank Platinum Bars were in high demand at APMEX.com
Palladium:
Spot Palladium prices opened this week at $250.00, and ended the week down a bit at $238.45. The most popular of these products this week were; 1oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1oz. Palladium Canadian Maple Leafs.
Numismatics:
Typically during the Summer season, prices will remain level as many dealers and collectors take a well-deserved breather from their active pursuit of numismatics. That does not seem to be the case this year! Although precious metals prices are a little bit lower than in recent weeks, demand has not abated. Common date US Gold Coins are extremely active on both the wholesale and retail markets, while rare date gold coins have weakened slightly.
Key date coins are also continuing to remain popular and in demand. A well-known key date silver coin, the 1916-D Mercury Dime, is particularly popular and it is one that all Dime collectors need! Early date specimens of Walking Liberty Half Dollars are also a quick-selling commodity. Continuing the “key date” trend is the 1893-S Morgan Silver Dollar, a rare coin that continues to advance in price almost regardless of grade!
Early Type Coins have finally retrenched and prices are starting to soften, after many months of very strong price advances. However, we are unsure whether this softening is the start of a correction or a temporary aberration. This may prove to be an excellent opportunity to purchase coins.
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Weekly Market Recap 4/3/2009
This week, the market has been very active. On Tuesday, the DOW and the S&P 500 finished March with their largest gains since October 2002. In March, the DOW finished up 7.7% showing its first gain after six months of loses.
The world’s leaders gathered for the G-20 conference in London where they agreed to funnel an additional 1.1 Trillion into the global economy to fight the current financial meltdown. Despite the short term upswing in the stock market, precious metals continue to be a major player for investors seeking safe haven.
Silver:
Spot Silver prices opened this week at $13.27. Silver reached a high of $13.35, on Monday, March 30, while the low for the week occurred on Thursday, April 2 at $12.56. Silver ended the week down .71 cents at $12.87. This week APMEX presented customers with the “Fool Proof Silver Sale”, which had a great response. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 1 ounce APMEX Silver Rounds, 2009 1 ounce Silver Philharmonics and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com.
Platinum:
Spot Platinum prices opened this week at $1144.87, and ended the week up at $1172.10. Platinum had a gain of $27.23 throughout the week. Investors continue to seek out platinum products. The most popular of these items were 1 oz. Platinum Pamp Suisse Bars and 1 oz. Scotiabank Platinum Bars. These items are live and ready to ship at APMEX.com
Palladium:
Spot Palladium prices opened this week at $222.00, and ended the week up $3.00 at $225.00. Palladium products continue to be in great demand. 1 oz. Pamp Suisse Palladium Bars remain popular with investors. You can use the APMEX AlertMe!℠ product alert feature to be notified when we have more of these sought after bars in stock.
Numismatics:
The city of Baltimore offers a beautiful and renovated Inner Harbor area, the venerable Orioles baseball team, and probably the best crab cakes on earth. The city was very crowded last week with coin dealers from across the nation; but they weren’t there to enjoy the sights. They were there to conduct business at the Whitman Coin and Currency Expo. APMEX returned from the Baltimore coin show with renewed confidence in the rare coin market and significant new inventory! If you were to ask the majority of dealers in attendance there, they would all say that the show was a rousing success! Although the convention was shortened by one day from previous sessions (there was no Sunday activity), the dealers conducted enough business to make the trip to Maryland worthwhile.
We bought and bought and bought! Nathan, Robyn and Mike kept the US Post Office booth very busy mailing package after package of coins back to Oklahoma. The highly sought after 2009 Ultra High Relief Gold Coins were on everyone’s shopping list and there were only a few available at the entire show! These beautiful coins are very hard to get and no gold collection is complete without one! Beyond modern rarities, the reliable Morgan Silver Dollar was another very popular item at the show – in conditions from culls to Gems! We bought thousands of them!
Proof sets, Barber coins, early Lincoln cents, Large Size US Currency and all denominations of pre-1933 US Gold coins rounded out much of our new purchases. Click the hyperlinks to see some of the new items we purchased for you! And continue to look at these links over the next few days as we list more and more of these wonderful new items for your collections!
The world’s leaders gathered for the G-20 conference in London where they agreed to funnel an additional 1.1 Trillion into the global economy to fight the current financial meltdown. Despite the short term upswing in the stock market, precious metals continue to be a major player for investors seeking safe haven.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $924.60. The high during the week was on Monday, March 30 at $935.50, while the low for the week occurred on Thursday April 2 at $894.90. Gold ended the week down $27.80 at $896.80. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/10 ounce Austrian Philharmonics, 1 gram APMEX Gold Bars, and 1 ounce Pamp Suisse Gold Bars were all very popular items at APMEX.com.
Gold:
Spot Gold prices opened this week at $924.60. The high during the week was on Monday, March 30 at $935.50, while the low for the week occurred on Thursday April 2 at $894.90. Gold ended the week down $27.80 at $896.80. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, 2009 1/10 ounce Austrian Philharmonics, 1 gram APMEX Gold Bars, and 1 ounce Pamp Suisse Gold Bars were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $13.27. Silver reached a high of $13.35, on Monday, March 30, while the low for the week occurred on Thursday, April 2 at $12.56. Silver ended the week down .71 cents at $12.87. This week APMEX presented customers with the “Fool Proof Silver Sale”, which had a great response. 2009 Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, 1 ounce APMEX Silver Rounds, 2009 1 ounce Silver Philharmonics and 1 oz. Morgan Design Silver Bars were hot items on APMEX.com.
Platinum:
Spot Platinum prices opened this week at $1144.87, and ended the week up at $1172.10. Platinum had a gain of $27.23 throughout the week. Investors continue to seek out platinum products. The most popular of these items were 1 oz. Platinum Pamp Suisse Bars and 1 oz. Scotiabank Platinum Bars. These items are live and ready to ship at APMEX.com
Palladium:
Spot Palladium prices opened this week at $222.00, and ended the week up $3.00 at $225.00. Palladium products continue to be in great demand. 1 oz. Pamp Suisse Palladium Bars remain popular with investors. You can use the APMEX AlertMe!℠ product alert feature to be notified when we have more of these sought after bars in stock.
Numismatics:
The city of Baltimore offers a beautiful and renovated Inner Harbor area, the venerable Orioles baseball team, and probably the best crab cakes on earth. The city was very crowded last week with coin dealers from across the nation; but they weren’t there to enjoy the sights. They were there to conduct business at the Whitman Coin and Currency Expo. APMEX returned from the Baltimore coin show with renewed confidence in the rare coin market and significant new inventory! If you were to ask the majority of dealers in attendance there, they would all say that the show was a rousing success! Although the convention was shortened by one day from previous sessions (there was no Sunday activity), the dealers conducted enough business to make the trip to Maryland worthwhile.
We bought and bought and bought! Nathan, Robyn and Mike kept the US Post Office booth very busy mailing package after package of coins back to Oklahoma. The highly sought after 2009 Ultra High Relief Gold Coins were on everyone’s shopping list and there were only a few available at the entire show! These beautiful coins are very hard to get and no gold collection is complete without one! Beyond modern rarities, the reliable Morgan Silver Dollar was another very popular item at the show – in conditions from culls to Gems! We bought thousands of them!
Proof sets, Barber coins, early Lincoln cents, Large Size US Currency and all denominations of pre-1933 US Gold coins rounded out much of our new purchases. Click the hyperlinks to see some of the new items we purchased for you! And continue to look at these links over the next few days as we list more and more of these wonderful new items for your collections!
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Weekly Market Recap - 11/28/08
Precious metals prices continued to fluctuate this week as crude-oil prices tumbled and U.S. equity markets erased gains. With Thanksgiving now over and the Christmas holiday on the horizon, the stock market remains unstable but active.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.
Gold:
Following the Thanksgiving holiday, gold was on the rise for its fourth straight week, ending the month with its biggest monthly gain in nine years. Spot Gold prices opened this week at $ 802.00. The high during the week was on Tuesday November 25th at $835.50, while the lowest point occurred on Monday, November 24th at $786.20. Overall, gold ended the week up at 820.40. Gold Kruggerands were in great demand and short supply.
Silver:
Spot Silver prices opened last week at $ 9.63. Active trading pushed spot silver to a high of $10.68 on Monday, November 24th. The low for silver also occurred on Monday at $9.46. Overall, silver ended the week up, at $10.40. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast. With the arrival of the 2009 SAE’s fast approaching, now’s a great time to purchase the 2008 Silver Eagles and take advantage of the low prices.
Platinum:
Spot Platinum prices opened last week at $826.10. Overall, platinum ended the week up at $885.00. Products such as 1 oz Platinum Bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.
Palladium:
Spot Palladium prices opened this week at $185.10. Overall, palladium ended the week up at $195.00. Canadian Palladium Maple Leafs were in great demand and short supply.
Numismatics:
The much-heralded Baltimore coin show lived up to most expectations last week as many dealers reported brisk activity. Numerous astute buyers were using the weakness in the general economy as a rationale for asking dealers to accept lower offers for their coins. That argument fell on deaf ears of many dealers who had quality coins to sell. Early Lincoln cents are in great demand as are pre-1933 US gold coins. All better date Morgan Silver Dollars are in great demand, as are all of the different issues of type coins, especially Bust, Seated and Barber material. But classic commemorative coins (1892 to 1954), both silver and gold types, are fairly quiet with a few scarcer issues being actively sought and the more generic issues remaining relatively quiet.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.
Gold:
Following the Thanksgiving holiday, gold was on the rise for its fourth straight week, ending the month with its biggest monthly gain in nine years. Spot Gold prices opened this week at $ 802.00. The high during the week was on Tuesday November 25th at $835.50, while the lowest point occurred on Monday, November 24th at $786.20. Overall, gold ended the week up at 820.40. Gold Kruggerands were in great demand and short supply.
Silver:
Spot Silver prices opened last week at $ 9.63. Active trading pushed spot silver to a high of $10.68 on Monday, November 24th. The low for silver also occurred on Monday at $9.46. Overall, silver ended the week up, at $10.40. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast. With the arrival of the 2009 SAE’s fast approaching, now’s a great time to purchase the 2008 Silver Eagles and take advantage of the low prices.
Platinum:
Spot Platinum prices opened last week at $826.10. Overall, platinum ended the week up at $885.00. Products such as 1 oz Platinum Bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.
Palladium:
Spot Palladium prices opened this week at $185.10. Overall, palladium ended the week up at $195.00. Canadian Palladium Maple Leafs were in great demand and short supply.
Numismatics:
The much-heralded Baltimore coin show lived up to most expectations last week as many dealers reported brisk activity. Numerous astute buyers were using the weakness in the general economy as a rationale for asking dealers to accept lower offers for their coins. That argument fell on deaf ears of many dealers who had quality coins to sell. Early Lincoln cents are in great demand as are pre-1933 US gold coins. All better date Morgan Silver Dollars are in great demand, as are all of the different issues of type coins, especially Bust, Seated and Barber material. But classic commemorative coins (1892 to 1954), both silver and gold types, are fairly quiet with a few scarcer issues being actively sought and the more generic issues remaining relatively quiet.
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Weekly Market Recap - 11/21/08
America is only one week away from the official start of the holiday season. Investors and collectors alike looked to precious metals yet again after U.S. stocks plunged this week, sparking worries about a deepening economic slump. However, there has still been a lot of action in the stock market. Throughout the week we’ve seen the price of precious metals gain ground as gloomy economic news and falling crude-oil prices stepped up investors' interest in safe-haven buying.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.
Gold:
Spot Gold prices opened this week at $740.00. The high during the week was at close on Friday at $805.50, while the lowest point occurred on Monday, November 17th at $729.60. Gold American Eagles, Gold Maple Leafs and Gold Bars were all in great demand and short supply.
Silver:
Spot Silver prices opened last week at $9.42. Active trading pushed spot silver to a high of $9.85 on Wednesday, November 19th. The low for silver occurred on Thursday, November 20th at $8.80. Overall, silver ended the week up, at $9.77. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast.
Late in the week, the Perth Mint announced a suspension on orders for gold and silver until January 2009. Many investors have chosen to take advantage of these popular items:
Platinum:
Spot Platinum prices opened last week at $841.10. Overall, platinum ended the week down at $836.50. Products such as 2008 ¼ Platinum American Eagles, 1 oz. Pamp Suisse platinum bars and 1 gram Credit Suisse platinum bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.
Palladium:
Spot Palladium prices opened this week at $215.00. Overall, palladium ended the week down at $192.00. Palladium Pamp Suisse 1 and 10 oz bars were in great demand and short supply. Availability is limited, but we currently do have bars in stock and ready to ship.
Numismatics:
The week before Thanksgiving is generally a busy one in the numismatic world as the number of coin shows between now and year end is very limited. Many dealers were awaiting the results of the much-heralded Baltimore coin show to determine the health of the coin market. Although demand for gold coins has slowed a bit, the premiums being paid are still at record high levels.
Rare date silver Morgan dollars and silver Peace dollars are leading the price movements on silver dollars, while common dates have retrenched a bit. But vintage (pre-1934) Lincoln cents are red hot with lots of buyers willing to pay bid and higher for choice, original early coins. The upcoming design changes early next year should inspire renewed interest in our venerable Lincoln cents.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion products and numismatics here at www.APMEX.com.
Gold:
Spot Gold prices opened this week at $740.00. The high during the week was at close on Friday at $805.50, while the lowest point occurred on Monday, November 17th at $729.60. Gold American Eagles, Gold Maple Leafs and Gold Bars were all in great demand and short supply.
Silver:
Spot Silver prices opened last week at $9.42. Active trading pushed spot silver to a high of $9.85 on Wednesday, November 19th. The low for silver occurred on Thursday, November 20th at $8.80. Overall, silver ended the week up, at $9.77. Silver American Eagles were in great demand and our stock of 2008 Silver American Eagles is dwindling fast.
Late in the week, the Perth Mint announced a suspension on orders for gold and silver until January 2009. Many investors have chosen to take advantage of these popular items:
Platinum:
Spot Platinum prices opened last week at $841.10. Overall, platinum ended the week down at $836.50. Products such as 2008 ¼ Platinum American Eagles, 1 oz. Pamp Suisse platinum bars and 1 gram Credit Suisse platinum bars were highly desired. Availability is limited, but we currently have eagles and bars in stock and ready to ship.
Palladium:
Spot Palladium prices opened this week at $215.00. Overall, palladium ended the week down at $192.00. Palladium Pamp Suisse 1 and 10 oz bars were in great demand and short supply. Availability is limited, but we currently do have bars in stock and ready to ship.
Numismatics:
The week before Thanksgiving is generally a busy one in the numismatic world as the number of coin shows between now and year end is very limited. Many dealers were awaiting the results of the much-heralded Baltimore coin show to determine the health of the coin market. Although demand for gold coins has slowed a bit, the premiums being paid are still at record high levels.
Rare date silver Morgan dollars and silver Peace dollars are leading the price movements on silver dollars, while common dates have retrenched a bit. But vintage (pre-1934) Lincoln cents are red hot with lots of buyers willing to pay bid and higher for choice, original early coins. The upcoming design changes early next year should inspire renewed interest in our venerable Lincoln cents.
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US Mint Halts Gold and Platinum American Eagle Production
The United States Mint recently released a memo to authorized dealers outlining how they will deal with the unprecedented demand for gold and silver bullion coins.
According to the memo, ALL ½ oz and ¼ oz Gold Eagles have been suspended through the remainder of the year. Platinum Eagles, Gold Buffaloes and 1/10 oz Gold Eagles will be produced until the Mint exhausts its supply of blanks, at which time all of these coins will be suspended as well.
The US Mint will focus instead on producing 1 oz Gold American Eagles and 1 oz Silver American Eagles to help satisfy the intense demand for these popular bullion coins.
The US Mint memo reads:
October 6, 2008
MEMORANDUM TO ALL AMERICAN EAGLE AND AMERICAN BUFFALO AUTHORIZED PURCHASERS
SUBJECT: 2008-Dated Bullion Products
Due to the extreme fluctuating market conditions for 2008, as well as
current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high.The United States Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the United States Mint to focus remaining bullion production primarily on American Eagle Gold One Ounce and Silver One Ounce Coins.For the remainder of 2008 bullion inventory, the following will apply:
American Eagle Gold Bullion Coins
One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.One Half Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.
One Quarter Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.
One Tenth Ounce Coins: Inventory was depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.
American Buffalo One Ounce Bullion Coins
Inventory was depleted and sales were suspended in late September. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.
American Eagle Silver One Ounce Bullion Coins
American Eagle Silver One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.
American Eagle Platinum Bullion Coins
All denominations were depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.We will keep you updated as more information becomes available.
This cessation of fractional Gold American Eagle coins means these coins may be tough to find. The limited production of these gold coins could make them a sought after collectable in future years. As a result, it is possible that the numismatic value of fractional 2008 Gold Eagles may increase--a pattern that has been observed repeatedly throughout history.
Get these rare coins now while they are still available! APMEX may not be able to get anymore – however, we will post them online when and if we do get additional stock. Take advantage of this great opportunity before they are gone.
http://www.apmex.com/Category/504/Gold_American_Eagles_2008__Prior.aspx
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So – Who Buys Precious Metals Anyway?
Demographics of The Precious Metals Market
The vast majority of people who invest in precious metals like silver bullion and gold bars are men—over 90% in fact, according to our recent survey. That was a bit of a surprise actually. We figured that the majority would be men, but were surprised by the high percentages.
Another interesting point from the survey was the age range of our customers. It could be an common assumption that the more mature generations would be concerned with the current economic state, while the younger generations focus on XBOX, plasma tv’s and iPhone 3G. However, we found out that there is a strong showing of concerned people in the younger generations as well.
All generations had a significant showing – obviously demonstrating a common opinion toward investing in silver bullion, gold coins and rare US coins as a trusted way to protect wealth and avoid economic losses from other forms of investment.
Economic Motivations Prevail
This came as a comforting relief actually – it would appear that our nation’s younger men are just as concerned with the current economics as their fathers and grandfathers. Regardless of position, wealth, power or age, it would appear that at least some Americans are tuned into the declining dollar, the “real cause” of inflation and how to protect their assets from this economic drain.
As to the motivators behind the interest in precious metals…Our survey indicated that roughly 75% of people are looking to either diversify their investments, protect their assets from recession or inflation. Numismatists and collectors made up the rest of the showing.
Perhaps not so surprising, there is a strong leaning towards economic factors behind the interest in precious metals. People may be coming from different stages life, but all seem to be in a similar mindset regarding current economic conditions resulting from wanton production of currency by the Fed, the failings of an inflated real estate market and subsequent losses on the stock market.
So far, findings of our survey are just the tip of the iceberg, if you will. There’s plenty more to report, and we wouldn’t leave you hanging like that, so be watching for the rest of the story on future posts.
Take minute to let us know what you think. We always value your input, so please feel free to comment, rate this post or link to this post in your own blog. Sharing is fun – and benefits everyone in the community.
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