June 9, 2008: 2008 Silver Eagle Shortage Gets Worse, Virgin Islands Quarters, 2008 World’s Fair of Money
Welcome back to Coin Update!
We hope you had a wonderful weekend! First up, gold regains its recent high and analysts are making fresh calls for $50 per ounce silver. Also, the 2008 Silver Eagle shortage gets worse, "salvage season" begins, the U.S. Mint's new $2.4 million ad campaign, the ANA's 2008 World's Fair of Money, Virigin Islands Quarters, notable auctions and more! On to the links...
Gold and other precious metals continue their recent volatility. This morning gold hit a two week high, after trading at a two week low last week.
Analysts love predicting that silver will go to $50 per ounce, its former 1980 peak price.
Tough economic times are causing people to sell their old coins, collectibles, and accumulations.
The 2008 Silver Eagle shortage will get even worse. The US Mint's silver blank vendors will be reducing the number of quantities supplied to the Mint by more than half. The US Mint recently sent this letter to authorized purchasers of Silver Eagles.
Odyssey Marine Exploration and the Spanish Government will present arguments this morning on the disputed $500 million sunken treasure found in the Atlantic Ocean.
Meanwhile, another "salvage season" begins off the Florida coast.
The US Mint will be working with a new advertising agency on a $2.4 million dollar campaign to promote use of the new Presidential Dollars.
Will you be attending the ANA's 2008 World's Fair of Money? The event will take place in Baltimore from July 30 to August 3. Here's a listing of the scheduled events and tours.
Residents of the U.S. Virgin Islands can vote for their favorite design for the upcoming Quarter. View the three potential designs on CoinNews.
Highlights from Heritage's Long Beach Signature Auction plus a brief market update. Interesting quote from the update, "Collectors have become savvier and less frequently fall prey to focusing on the plastic instead of the coin itself. Even if a coin is in the ‘wrong’ holder (a MS64 that should be a MS65 for example) it will most likely bring the ‘right’ money"
An exclusive interview with the Director of Sales at the Royal Canadian Mint.
Numismatic News takes a look at the 1879-CC Morgan Dollar, the second toughest CC Morgan Dollar after 1889.
And now for some notable auctions. First, the key date 1916 Standing Liberty Quarter NGC AU 55.
To go with today's link to the NN story, check out this 1879-CC GSA Morgan Dollar with the original GSA box and paperwork.
Last up, a 1937 Proof Buffalo Nickel PCGS PR66 in an old rattler holder.
That's it. Have a great Monday!
