June 24, 2009: IMF Gold Sale, Precious Metals Premiums, 2009 Gold Buffalo Coins

Welcome back to Coin Update!

We're back with another round up of coin collecting news from around the web. First, a story that hasn't gotten much mainstream attention- the IMF Gold sale is one step closer to reality. Also, premiums for physical precious metals have returned to normal, the US Mint cancels Gold Buffalo bullion coins, the Royal Canadian Mint revives bullion programs, coin dealer ethics, Harvey Stack retirement, CAC Population report, and notable auctions. On to the links...

In gold related news, the US House of Representatives has approved a bill which will allow the IMF to sell 400 tons of gold. What does this mean for gold?

Premiums for physical precious metals have more or less returned to normal levels. Here's a great examination of the rapid expansion and contraction of precious metals premiums that occurred over the past year.

The US Mint has canceled the bullion coin offering for the 2009 American Gold Buffalo. The one ounce proof coin for collectors will still be produced, although a release date remains unknown.

Ironically, while the US Mint is canceling bullion programs, the Royal Canadian Mint is reviving programs. They have restarted production of the Platinum Maple Leaf and expect to produce the Palladium Maple Leaf.

Susan Headley has written frequently on the subject of coin dealer ethics. Here are her Top 10 Coin Dealer Ethics columns.

While the news has been circulating for a while, here is the official statement from Stack's about the retirement of Harvey Stack.

The US Mint has added a subscription option for sales of the 2009 Lincoln Cent Two Roll Sets. The subscription would cover the final two design releases.

CAC has added a population report to their website, which lists all CAC stickered coins by denomination. Access to the report is free and updated on a weekly basis.

NGC has opened a new submission center in China. It will assist collectors and dealers in sending submission to NGC, NCS, and PMG for certification.

And now for some notable auctions. A nice example from one of my favorite series. Here's a 1921 Peace Dollar graded PCGS MS64. For this year the coins were struck in high relief and generally have wonderful deep luster.

While there have been numerous auctions for "perfect" Proof Bronze 2009 Lincoln Cents graded by NGC, there have been much fewer graded by PCGS. How much will this set of 2009-S Lincoln Cents graded PCGS PR70DCAM sell for?

This Lincoln Cent Error is quite unique. It has a flip over, off center, double strike, which results in a coin shaped like Mickey Mouse.

Have a great evening!