May 26, 2009: Guam Quarters Debut, DMPL Morgan Dollars, Gold Breakout?
Welcome back to Coin Update!
We hope you enjoyed your holiday weekend! Here's another round up of coin collecting news from around the internet. First, Guam Quarters debut as Puerto Rico Quarters sell out. Two stories on gold suggesting contrary paths for the future price of gold, DMPL Morgan Dollars explained, coins for the British Indian Ocean Territories, paper money viability, paying workers in gold and silver coins, the thawing coin market, and notable auctions. On to the links...
Today, as the Guam Quarter bags and rolls went on sale, the last of the Puerto Rico Quarter bags and rolls sold out.
Another mention of the potential end of the American Eagle shortage. Since the shortage was used as evidence that higher prices were coming, does the end of the shortage suggest lower prices?
Maybe not. Here's a separate article which suggests that gold may be on the verge of a historic breakout based on recent moves in gold shares and general economic conditions.
A recent Coin Q&A from Susan Headley explaining the differences between DMPL, Prooflike, and Semi-Prooflike Morgan Dollars.
Escala Group, the parent company of Bowers and Merena and Teletrade announced a name change to Spectrum Group International Inc.
Two new coins will be struck for the British Indian Ocean Territories. The islands are apparently only inhabited by a few thousand people living on a naval support base on one island.
Wired questions the viability of paper money as a medium of exchange, following the Digital Money Forum. According to the article, the infrastructure already exists to move to an entirely paperless money system.
A Las Vegas construction business owner faces life in prison in a gold and silver coin related case. He allowed workers to receive their money in gold and silver bullion coins and recorded their compensation based on the legal tender face value of the coins. As an example, the 1 ounce American Gold Eagle is worth about $1,000, but has a legal tender face value of $50.
Some insight on some recent "thawing" in the coin market by John Feigenbaum of David Lawrence Rare Coins.
The writer of Coined For Money receives his first 2009 coin, a 2009-P Puerto Rico Quarter. I am still yet to receive any 2009 dated coins in change, but I do have some coins from US Mint purchased rolls like the 2009 Kennedy Half used as today's coin image.
And now for some notable auctions. First, a complete set of all 50 Silver Proof State Quarters graded NGC PF 70 Ultra Cameo. This set has already attracted an impressive 49 bids.
A small number of the 2009 UHR 's have been receiving the "PL" designation from NGC for "Proof Like." Here's the 2009 Ultra High Relief Double Eagle graded NGC MS 70 PL.
Last, here are Ten Unopened 1954 Proof Sets. The lot even comes with the original cardboard shipping container.
That's it for today. Have a great evening!
