October 27, 2008: Gold and Silver Demand, US Mint memo, Coin Dealer Interview
Welcome to Coin Update!
We’re back with a round up of the best and brightest coin collecting news from around the web. First, an article focusing on the Royal Canadian Mint’s efforts to meet gold and silver demand. Also, Gold and Silver Eagle premiums, US Mint memo, the eBay lawsuit, nice local article on a coin dealer, an unusual octagonal coin, and notable auctions. On to the links…
An article from a Canadian newspaper about the pressure on the Royal Canadian Mint to produce enough gold. Quote from the Canadian Mint: “We have never produced more [gold] than what we are producing right now. We just can’t keep up with all the demand.”
Coin Values Online writes about the current high premiums for Gold and Silver American Eagles. Quote that sums things up pretty well: “You can’t rely on commodities exchange spot prices as a solid guideline to determine price. It comes down to a “value is in the eye of the beholder” scenario, and this unsettled situation may not change soon.”
The US Mint is starting to sell its final inventory of 2008 Platinum Eagle and 1/10 ounce Gold Eagle bullion coins today. The post includes the full memo issued by the US Mint explaining the allocation process.
Coin Collector’s Blog posts on the UGS lawsuit against eBay. He brings up the different strategy of recently formed DGS, which is in the same boat as UGS.
The Royal Canadian Mint begins to issue a colored circulating quarter featuring the red poppy. The coin is issued to commemorate the end of World War I.
A local article interviewing a coin dealer. Some nice quotes to help you remember that coin collecting is also about having fun. “Everyone has access to coins. You can have a lot of fun for under a dollar”
Check out this octagonal gold coin which features a Viking Warrior and dragon ship.
From Numismaster: Did the U.S. Mint Put Secret marks on Its Coins?
And now for some notable auctions. First, a 1921 Peace Dollar in NGC MS 65. The coin is offered with no reserve.
An enormous group of Silver Proof State Quarters for sale. This lot contains 20,000 coins which represent a face value of $5,000 and silver content of over 3,600 ounces.
And last, a 2007 Off Center Lincoln Cent. Apparently recent examples of off center error coins are difficult to come by.
Have a great evening!
