Welcome back to Coin Update!
We’re back with another round up of news and articles on coins and coin collecting from a variety of sources around the internet. First, the shocking news that the US Mint will not produce 2009 Proof Gold and Silver Eagle Coins. Also, some products the US Mint will produce this year, point and counterpoint on the current gold rally, an economist determines the most efficient coins, US Mint sales figures, NGC Registry Awards, an article defending the hobby of coin collecting, and notable auctions. On to the links…
By far the biggest story is the US Mint’s cancellation of numerous popular collector coins for 2009. The story written on Mint News Blog about the 2009 Gold and Silver Eagle cancellations generated an astounding 128 comments and counting in an outpouring from disappointed collectors.
Dave Harper was perhaps the first to break the news. Check out his report and evaluation of the situation on his Buzz blog.
A closer look at some of the products that the US Mint actually will be offering this year- the Braille Education Set on sale tomorrow and the 2009 Proof Platinum Eagle and Gold Buffalo coins on sale later this year.
Modern day reporters seem to love using the word “bubble” in their article titles. Here’s Fortune with Beware the Gold Bubble.
For a much different perspective, Bloomberg offers the article which predicts gold could reach $1,500 an ounce following its rally “off the charts.”
According to an economist, our current configuration of circulating coin denominations is inefficient. The most efficient system would include 1-cent, 3-cent, 11-cent, and 37-cent coins. (He measures efficiency by the number of coins per transaction, not how long it would take the average person to count them!)
Coin Update News will now provide weekly sales reports for United States Mint products. View the sales figures as of 10/4/2009.
More from Coin Update News
October 2009 Coins and Coin Collecting Events
NGC announced their annual NGC Registry Awards. This year features a very unique grand prize that will be awarded to one of the individual category winners.
An interesting story from Numismaster about some of the compositions considered for the one cent coin when Large Cents fell out of favor, the issuance of the 1856 Flying Eagle Cent, and beyond.
A reaction to a previous Numismatic News Viewpoint that predicted doom for the hobby of coin collecting in favor of paper money collecting.
And now for some notable auctions. First, here are the current auctions for the 2008 Proof Silver Eagle. Are prices ticking up after the announcement that no coins will be minted for 2009?
The first proof coin issued for the popular series, the 1936 Proof Walking Liberty Half PCGS PR64.
Last, a 1972 Lincoln Cent Struck on a Dime Blank. It’s authenticated and graded by NGC at MS 65.
That’s wraps things up for today. Have a great evening!
