October 14, 2008: $1,500 Gold Prediction, Hawaii Quarters, Coin Roll Hunting
Welcome to Coin Update!
We're back to bring you an update of coin collecting news from around the web! First, Merill makes a prediction for gold. Also, the Hawaii State Quarter is coming, soaring prices for 2008-W Uncirculated and Proof Platinum Eagles, coin roll hunting, the Jack Lee Estate, and notable auctions. On to the links...
Analysts from Merill Lynch predict $1,500 gold. Quote: "The unintended consequence of the ongoing financial bailout will be a return of inflationary pressures to the commodity markets."
Related commentary from Marketwatch: Why should gold stop at $1,500? Quote: "$1,500 Gold looks more like a floor than a ceiling in the years to come."
More coverage of the bullion shortage and the disparity between paper market prices and prices for physical metals.
Here comes Hawaii! The final coin of the State Quarter series is fast approaching.
This Coin Collector/Geologist is able to tell the specific source for the copper used in US pennies.
2008-W Uncirculated and Proof Platinum Eagle prices are soaring on speculation that this year will have record low mintages.
With the current economic downturn, it's a great time to be coin roll hunting. People are cashing in saved coins with little regard to their true value. From Okie Treasure Hunter, bank tellers reported that a customer turned in $52 worth of 90% silver half dollars. (The tellers kept them.) Cheap, Green and Happy turned up 36 90% silver halves and 14 proof halves.
Another perspective from Heritage, the higher end market remains robust and even seems to be benefiting from the economic turmoil.
Coins from the Jack Lee Estate will go up for auction in Heritages' US Coin Auction October 23-25 in Houston.
And now for some notable auctions. One way to overcome the huge premiums for 100 ounce silver bars and bullion coins, go for a 1,000 ounce silver bar.
Next, 1996 mated pair Jefferson Nickels. I always thought mated pairs were romantic...
And last, a key date 1877 Indian Head Cent up for auction... or most of one!
See you all tomorrow!
