Weekly World Numismatic News for June 14, 2020

1984 Mexico Libertad

We sold this 1984 Mexico Libertad at auction for a nice premium above spot!

The most interesting news for this week did not come from online sources but an email newsletter for resellers. According to the readers of the newsletter, the best selling items are coins and currency.

According to their survey, most of their readers report that collector coins are outselling all other categories and bringing in the best premiums. The best-sellers are modern bullion coins and Morgan dollars.

Modern bullion coins are not limited to American Eagles. Auction bidders are driving up the prices of Maple Leafs, Britannias, and Libertads. Collector bullion coins, like the American Eagle proofs and Pandas, have realized premiums beyond typical liquidation auctions.

Other categories that are experiencing a spike in sales are mixed lots. Mixed lots of silver U.S. coins are doing the best followed by lots with foreign coins. One dealer sold a lot of 20 holed English pennies for $2.50 per coin. These were coins from the reign of George V and early into Elizabeth II.

Since the readers of the newsletter I receive are dealers in the second-hand and liquidation markets, this is excellent news. The bad news is that it is becoming challenging to find inventory to resell.

And now the news…

 June 5, 2020
A RARE Roman coin discovered in Colchester more than 40 years ago has sold for £4,000 after going under the hammer. Kevin Scillitoe found the coin, minted by the Emperor Carausius, when he was ten-years-old.  → Read more at harwichandmanningtreestandard.co.uk

 June 7, 2020
Arizona history is rife with tales of hidden mines and buried treasure. Even today, those hoping to strike it rich head out with maps and shovels, despite tremendous odds against them. Scott Craven/The Republic  → Read more at lcsun-news.com

 June 7, 2020
As shoppers and retailers do away with cash transactions, we may be witnessing the end of a major source of social and historical information – the coin. In the modern age, coinage is increasingly seen as cumbersome, a vector for disease and costly to manufacture.  → Read more at theconversation.com

 June 8, 2020
Multiculturalism (tolerance) and the ability to unify large different ethnic groups living within the state’s boundaries are those distinct features which serve as the fundamentum for economic, military and cultural achievements of the Western civilization.  → Read more at georgiatoday.ge

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Weekly World Numismatic News for May 24, 2020

2020 South Africa Platinum ElephantWhen talking about markets, the central theme is that investors hate instability. Whether the conversation is with the professional market maker or the individual investor, there is much uncertainty in the current marketplace.

When equity markets become unstable, investors run to cash or cash equivalents. Cash equivalents include investments like bonds, especially those issued by stable governments. The other investment they run to is precious metals.

Gold is the primary safe-haven for investors. As a society, we have given this mineral an intrinsic value and trade it for a premium. With the panic of the U.S. Mint closing the West Point Mint for a short time, investors started buying platinum. The most popular form to purchase these metals is in coins where we saw the South African Platinum Elephant coins sell out its 2,000 coin production.

With the markets scrambling, it has opened up the door to scammers trying to cash in on the panic buying. Scammers use tactics like selling overpriced and overhyped coins, counterfeits, and not delivering coins after purchasing.

These scams are not new. Last year, the Accredited Precious Metals Dealer (APMD) program warned against scammers as the prices jumped. Unfortunately, the problem has only become worse.

Please do not fall for these scams. If you have any questions, contact a reputable dealer from the APMD, Professional Numismatists Guild (PNG), Industry Council for Tangible Assets (ICTA), or the American Numismatic Association dealer directories. You will be glad you did!

And now the news…

 May 18, 2020
Nervous investors have been pouring into the gold and silver markets over the past two months. Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.  → Read more at fxstreet.com

 May 19, 2020
While the covid-19 pandemic has had a negative effect on the platinum market — including price, demand and supply — results for Q1 2020 show the net effect is less than feared, and the outlook for 2020 is better than expected, according the latest quarterly report by the World Platinum Investment Council (WPIC).  → Read more at mining.com

 May 21, 2020
Investors seeking a haven from the economic turmoil created by the coronavirus pandemic are snapping up platinum coins engraved with African wildlife.  → Read more at ca.finance.yahoo.com

 May 22, 2020
Kakinada: Cyclonic storm Amphan may have caused heavy damage in parts of Odisha and West Bengal, but the rains it brought in its wake helped unearth a treasure trove of silver coins of British India era in a village in north coastal Andhra.  → Read more at timesofindia.indiatimes.com
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Weekly World Numismatic News for May 10, 2020

2020 American Eagle Silver Bullion CoinIs it Sunday already?

This past week, the numismatic world was greeted with the news that the Philidelphia Mint struck a limited number of American Silver Eagle bullion coins to help fill the demand.

Most of the production of the American Silver Eagle bullion coins are in the West Point Mint. Sometimes, the San Francisco and Philadelphia Mints add capacity when necessary, with San Francisco being the priority. Since the West Point and San Francisco Mints temporarily closed because of the effects of COVID-19, Philadelphia picked up the slack.

The U.S. Mint produces all bullion coins without mintmarks. In most cases, it is impossible to tell which mint struck the coins. An exception is the 2015 (P) American Silver Eagles. Collectors and the grading services have been trying to figure out where the green monster boxes came from by examining the serial number and other clues. In 2015, Philadelphia struck just under 80,000 bullion coins. Those handling monster boxes noticed a difference in the packaging and quality.

According to the U.S. Mint, “Monster boxes of 2020 American Eagle Silver Bullion Coins minted in Philadelphia were affixed with a typed label containing the box tracking number; additionally, box tracking numbers were handwritten directly on the boxes. Box tracking numbers 400,000 through and including 400,479 were used on boxes of coins minted in Philadelphia.”

The 480 monster boxes translate into about 240,000 coins.

With that knowledge, the third-party grading services will add a special label noting that the coins were struck at Philidelphia only if the monster box sent for grading has the proper label and seal.

Of course, the price gougers are out in force. Most reputable companies are selling MS-70 graded “emergency” coins at around $250. That is about $200 over a “First Strike” or “Early Release” graded coins. One online seller is offering a pre-sale of the “emergency release” coins in MS-70 PCGS slabs with John Mercanti autographs for $595.

Coins graded MS-69 are selling for $75-80, which is $40-45 over other MS-69 graded coins.

Remember, if the listing says “pre-sale” it means that the seller does not have the coins in inventory.

And now the news…

 May 6, 2020
With central banks spraying unprecedented amounts of printed money at the global economic system, it’s little wonder the gold price soared by 18% in the six weeks following the stockmarket meltdown. All the extra money sloshing around means the chances that consumer price inflation will take off and erode the value of your cash have risen sharply.  → Read more at theweek.co.uk

 May 6, 2020
(Kitco News) – The last time the U.S. Mint sold this many platinum coins, President Bill Clinton was being tried by the U.S. Senate and Spongebob SquarePants was premiering on Nickelodeon. As of last month, the U.S. Mint said sales of the 1 oz platinum Eagle in 2020 reached 56,500 oz.  → Read more at kitco.com

 May 8, 2020
A veritable gold mine of silver coins which had been hastily stashed inside a church in a ceramic jug hidden by a blind Polish priest over 300 years ago has been unearthed by workers removing rotting floorboards in the blind priest’s former church.  → Read more at thevintagenews.com
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Still Trying to Figure Out the Pandemic Gold Market

2020 American Gold EagleIn last Sunday’s Weekly World Numismatic News, it opened with a discussion about how gold and silver were doing in the current market. While researching the data, the indication was that physical bullion and electronic purchases were driving the markets. Bullion coins were not a factor.

On Monday, Bloomberg News published an article that suggested otherwise. The article notes that retail buyers of gold are paying up to $135 per ounce above spot prices. An analyst interview for the article said, “There has never been a time for American Gold Eagles at this premium level.”

A call to a trusted source explained the differences in the reporting.

Last year, gold hit a low of $1,269 per troy ounce. With good economic indicators, investors thought that the prices would continue to fall. The market did not see value in buying a declining asset. Sellers were hoarding their stock until prices became more favorable.

The lack of buying, especially by retail investors, left dealers with a lot of inventory. With inventory building, dealers did not buy additional coins from the U.S. Mint’s dealers. As the prices rose, sellers started to sell their gold coins adding to the inventory.

Then came the coronavirus pandemic.

Markets hate uncertainty. The coronavirus pandemic has made uncertainty the only certainty. Not knowing where to turn, many sources are reporting significant gold sales. Where the reports differ is the source of the gold.

Although sources confirm that physical bullion and warrants are producing the highest volumes, they say it is because the investors cannot find enough bullion coins to satisfy market demands. The markets adjusted.

The demand increased when the U.S. Mint temporarily closed the West Point Mint. While the reaction did not rise to panic-like levels, retail gold buyers sought bullion coins, primarily American Gold Eagles, with greater urgency.

Professional investors are buying bullion and other gold products, including classic United States gold coins. The retail demand for American Gold Eagle coins has driven up the price. As the price for Eagles rises, it has driven up the cost of other bullion coins, including the Canadian Maple Leaf and Krugerrand.

When considering the purchase of gold coins, keep the spread in mind. If you purchase gold coins with a $150 premium over spot, to ensure that your investment generates a return, the bid price has to raise $150 plus whatever premiums dealers place on the coins. It might require the price of gold to rise $200-255 per troy ounce to break even.

Investors thought that the supply would ease with the Royal Canadian Mint resuming processing of bullion. However, in the beginning, the Royal Canadian Mint will produce large gold bars to satisfy orders from central banks so they can settle on accounts. They will also be striking silver Maple Leaf bullion coins.

Some reports suggest that most of the early production of silver coins will stay in Canada.

After discussing the markets with three different analysts, the only certainty is uncertainty. Each had an opinion that differed from each other but agreed that someone is going to make money.

Weekly World Numismatic News for April 26, 2020

As the stay or safe at home orders continue, news in the investing world around coins and bullion is whether there will be a recovery and what will happen.

While investors are turning to gold as the equity markets are less than stable, reports that bullion and bullion-related warrants are outselling all coin offerings. Even though the West Point Mint briefly paused coin production, the markets have not felt the impact.

Silver prices are faring as well as gold. The area that silver is gaining strength is in the industrial markets. Driving the price is the demand for electronics. The primary use of silver is in the braising that ensures the connections between the chips are secure and with the production of LEDs.

Industrial silver is in more demand than industrial gold. As Asian electronics production begins to ramp up, some investors feel that there may be a temporary shortage of silver. One analyst suggested that silver prices could climb to $18 per ounce. Silver is currently $15.26 per troy ounce.

On the other hand, the reports of economic contraction have suggested that bullion prices will collapse. If this is the case, then there will be more to worry about than the market price of bullion.

And now the news…

 April 22, 2020
People have been collecting coins for about as long as coins have been made. That’s a passion that has endured for centuries, since roughly 600 to 800 BC. Coin collecting is a worthwhile hobby and can sometimes be a financially savvy investment.  → Read more at washtimesherald.com

 April 23, 2020
Gold coin demand makes up a small part of total demand, and thus doesn’t have much impact on the gold price. Demand for gold coins must be seen as a retail sentiment indicator.  → Read more at seekingalpha.com

 April 25, 2020
Copper is well documented for its impressive antibacterial properties. Even Ancient Egyptians used bronze filings (an alloy of copper and tin) from their freshly sharpened swords to treat their wounds.  → Read more at iflscience.com

 April 25, 2020
What's True The reverse of a U.S. quarter issued in 2020 honoring the National Park of American Samoa features a pair of fruit bats.  → Read more at snopes.com
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Weekly World Numismatic News for April 5, 2020

I know it is difficult to turn away from the news. It is like watching an automobile accident in slow motion. Every day it seems like there is something else. Unfortunately, this is true about the precious metals market.

Europe, which appears to be taking the closings and stay-at-home orders better than the United States, is trying to figure out what will happen to the economy after everything reopens. That is wreaking havoc with the market.

In one story, Germany is beginning to buy gold in preparation for future spending while institutions in Italy are selling gold to stay afloat. While African mines continue to bring metals to the market, investors are buying gold as a hedge for an uncertain future.

In the last 30-days, the price of gold has bounced back almost to pre-market shaking announcements about COVID-19 in the United States. Other metals have not been as active. According to a source, the only thing keeping the price of silver somewhat stable is its industrial use.

Coins and other collectibles that are sensitive to the precious metals market will begin to see a disparity in prices. Common gold coins whose price is tied to the metals market will rise. Silver coins will likely not move on the metals market.

During a conversation with a professional metals trader, I asked what is next for the market. A person who usually has an answer said that he did not know. He said that most traders are not trying to predict the market but react to whatever happens. One of the problems is that the computer models are wrong. In many cases, firms have halted automated metals trading. He said that the situation is so fluid that some of the computer models were buying from themselves.

If you watch the business news on cable television, you will hear a different opinion from every guest. I plan to use the advice given to me: prepare for the worst and turn off the television.

And now the news…

 April 1, 2020
On that day, men shall fling away, To the flying foxes and the bats, The idols of silver And the idols of gold Which they made for worshiping. Isaiah 2:20  → Read more at breakingisraelnews.com

 April 2, 2020
When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.  → Read more at finance.yahoo.com

 April 2, 2020
I estimate that the Germans own 9000 tonnes in private gold-nearly as much gold as the French and Italians have combined. The World Gold Council (WGC) states there are roughly 198,000 tonnes of gold above ground, of which 35,000 tonnes is held by central banks.  → Read more at seekingalpha.com

 April 3, 2020
Polish archaeologists have uncovered a treasure trove of Roman denarii coins. They date from the first and the second century BC, and they probably belonged to a member of a Germanic people who lived in the area at the time.  → Read more at ancient-origins.net

 April 3, 2020
While removing the floor of the church in Obišovce near Košice, the foundations of the old church were uncovered. After this discovery, the archaeological company Triglav conducted research that took place at the beginning of February 2020, the Regional Monuments Board Košice reported.  → Read more at spectator.sme.sk
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Weekly World Numismatic News for July 28, 2019

One of the indicators as to how the markets view the economy is the price of precious metals. When there is uncertainty in the markets, investors leave the equity markets and buy precious metals. When that happens, it will have an impact on most pre-1965 coins.

Marketwatch reported that silver hit a 13-month high about the same time Iran captured a Britsh tanker. Since then, the silver market leveled out with few signs of dropping. Silver is not selling for at the same level as seen during the economic crisis in as it approached 2011, there continues to be upward pressure on its price.

Silver investing is sometimes called the “poor man’s gold.” When the average investor is uncertain and looks for a safer investment, they will buy silver while the wealthier investors will buy gold. Palladium has emerged as the new investment vehicle for investors with means.

Gold has been more erratic with wild swings in both directions depending on the news of the day. A precious metals fund manager who manages several diverse portfolios called the divergence of the markets curious. There is not a clear explanation for the current rise of silver. If someone were trying to manipulate the market, the prices would climb faster. All she could tell was there were a lot of low-end investors buying into silver.

30-day Gold Chart (will not update—Courtesy of Kitco)

For numismatics, the rising price of silver can be problematics. As the price of silver rises, the value of your coins will increase. However, adding to your collection will cost more, especially on those collectible coins whose value is tied to the price of silver.

Those responsible for investing in these markets are beginning to worry. If investors are buying silver as a safe haven, there could be a feeling of a pending economic crisis. Only time will tell if they are right.

And now the news…

 July 24, 2019

Present-day tenants of home owned by Jewish family before the Holocaust find jars containing 2,800 coins from as far back as the Roman Empire and as far away as India  → Read more at timesofisrael.com


 July 24, 2019

A hoard of Roman coins dating from the time of Queen Boudicca have been found by a metal detectorist in a field. What makes this find especially fascinating is that they may have been hidden there during one of the most interesting periods in Britain’s early history, the revolt against Rome led by the Celtic Queen Boudicca.  → Read more at thevintagenews.com


 July 24, 2019

Silver futures settle at a 13-month high on Monday, outpacing strength in gold, which saw prices eke out only a modest gain despite rising tensions between…  → Read more at marketwatch.com

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Weekly World Numismatic News for June 30, 2019

Price of Gold for the 2nd Quarter of 2019
(Chart courtesy of GoldSeek.com)

News of the week is not happening on the pages of the non-numismatic media but in the precious metals market. Specifically, the rise in the price of gold. While this news makes the gold bugs happy, it is a bad indicator for the rest of us.

With the price of gold opening at $1,279.00 on January 2, 2019, it saw some bumps in its price but has largely averaged a modest gain until the price closed at $1,271.15 on May 21. Then it started to climb and climb rapidly by market standards. On Friday, June 28, the end of the second fiscal quarter, gold closed at $1,409.00. The rise is a 10.8-percent gain since May 21.

Gold is considered a safe bet for investors. It is a way of investing in cash or cash equivalence. Investors buying gold will purchase bullion, gold bullion coins like the American Eagle, or shares in a fund that maintains large stores of gold. There are many types of funds and ways to purchase shares in these funds, but it is not the same as owning the physical gold. Most reports are claiming that investors are interested in purchasing physical gold with bullion coins being the preference.

Investors make money by investing with what they consider a manageable amount of risk. If the risk pays off, they can make a lot of money. The risks that fail must be made up elsewhere. Investors diversify their portfolios to mitigate these risks. However, if the institutional and large investors are moving their monies to safe harbors, like gold, they sense a problem.

This relatively sharp jump in the price of gold is being driven by the major investors who are worried about the future of the U.S. economy. They see the various trade wars being detrimental to the economy. One economist said that the recent hike in soybean tariffs to China is going to have long term effects long after this president leaves office.

Although the United States is no longer an agrarian economy, agriculture plays a significant role in the country’s economic health. Upsetting that role that agriculture plays will cause long-term damage to the economy. The soybean tariffs are believed to be the driver that is scaring investors.

You may ask how are soybeans causing gold to rise?

As part of foreign policy in Africa, the government has been supplying countries with the proper climate the means to grow soybeans. It was a way to make the countries self-sufficient by helping create an economy. In many cases, the United States did not follow through on commitments to help with the infrastructure that is needed to create access to the markets. Countries needed irrigation and road improvements. Rather than helping with the upgrades, the United States government concentrated on the military aspects of these country’s problems. A policy of one-problem-at-a-time.

For at least 15 years, China has ignored the military issues and began to supply the money, supplies, and labor to fix the infrastructure. The Chinese government helped build irrigation systems, roads, and provided transportation to build these economies with the promise that China would buy their products.

Although there was significant Chinese investment in Africa, it was still cheaper to buy soybeans from the United States. That situation changed with the 25-percent tariffs placed on soybean exports. The tariffs raised the price of U.S. soybeans beyond what the Chinese would pay to the African exporters. Now China is importing soybeans from Africa while U.S. farmers are provided allegedly short-term subsidies from the federal government.

Now that the infrastructure is in place for China to import soybeans from Africa, the costs have reduced and is projected to have the long-term effect of lowering the U.S. market for soybeans in China. One economist said privately that even if the tariffs were reduced to pre-trade war levels, it might not make it economically viable for China to buy as much from the United States as it did in the past.

Institutional investors see the loss in revenue from China, the increased deficit in providing welfare to soybean farmers, and the danger of the business not returning to the United States. They also see the reduction of tariffs to Russia for wheat and that Russia is also looking to African and South American countries for wheat sources. The competition is making trade prices drop and is making it look like agriculture trade is in trouble.

If exports of United States agriculture are in trouble, then it will hurt the economy. With the uncertainty added to the risk profile investors and fund managers have to manage, they have turned to gold as the natural, safe harbor.

The rise in gold prices always helps numismatics. It helps boost the prices of gold and, by association, other rare coins. However, if the gold prices go up because of economic stress, it will not matter what happens to numismatic prices. Fewer people will be in the market to buy coins.

And now the news…

 June 26, 2019

Gold is a hedge against financial risk, and coins offer convenience.  → Read more at marketwatch.com


 June 26, 2019

COIN collectors can now get their hands on a Toy Story 4 50p piece – but you can’t use it in shops. The commemorative coin features popular character Woody in colour with the cowboyR…  → Read more at thesun.co.uk

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Weekly World Numismatic News for December 30, 2018

While considering the news of the past week, the one thing that sticks out is the press release from the Professional Numismatic Guild. The release touts the strength of the high-end, rare coin market with a throwaway line that notes there may trouble for the general collector.

While prices declined during the year for some U.S. coins in easily available lower grades, hundreds of noteworthy coins from early American to modern that are among the finest known of their kind set auction price records….

Prices for collector coins are driven by two principles: the spot price of silver and other metals that were used to strike the coins; the ability for the supply to meet the demand.

Primary spot price that drives the general collector coin market is silver. Silver opened on January 2, 2018, at $17.06 per troy ounce. On Friday, December 28, the price of silver was $15.29. This is a decline of $1.80 for the year or 10.55-percent decrease. This is not something that has occurred in the last month as the stock market had problems. Silver reached its highest price on January 15 when it reached $17.325. The spot price of silver dropped below $17.00 on February 5 and has been on a steady decline all year.

There has been a steady decrease in the spot prices of silver in 2018
(chart courtesy of Kitco; this is a static chart and will not update)

But the price of silver alone is not enough to drive collector coin prices down to get PNG’s attention. The problem is the other part of the equation: supply and demand.

The supply of collector coins is not changing. The coin market is relatively stagnant since the U.S. Mint is no longer making Mercury dimes, Walking Liberty half dollars, or Morgan dollars. There may be an increase in those coins coming to the market as collectors liquidate or the families of deceased collectors liquidate, but is this more than usual?

The number of people collecting may not be enough to drive the market simply because numismatics is not as popular a hobby as it once was.

PNG notes that the success of their high-end business may be coming from investors, not collectors:

“With the stock market dropping during the fourth quarter of 2018 we saw an increase in interest in the rare coin market with some people taking profits from stocks and buying coins that have proven to show sizeable and consistent increases in value over the years, as well as buying precious metals,” said Professional Numismatists Guild President Barry Stuppler.

While it is good that the PNG touts the work of their members in the Top 10% of the market, the general public is not buying. PNG can pat themselves on the back all they want but if they are not helping the entire industry, they are losing the opportunity to turn a general collector into one of their customers.

Further, the American Numismatic Association, which is dominated by the same dealers who are members of the PNG, seem to have a blind spot that prevents them from seeing the general collector as a viable business model to cultivate.

There are only so many times that the industry can claim successes by selling the same 1913 Liberty Head Nickel before everyone, including investors, consider this a market with stale inventory.

This is not to say that the PNG dealers are bad people or have bad intentions. This is saying that the PNG needs to look beyond the top 10-percent of the market to ensure the other 90-percent is just as healthy. Without a market balance and without market diversity, the hobby will be in trouble. Even in the equity markets, low volume low capitalized stocks can cause harm to the market.

And now the news…

 December 24, 2018

JEDDAH: The Kingdom’s fiscal trajectory in many ways mirrors the tribulations it endured before emerging as one of the world’s foremost trade and financial hubs. Before the Kingdom was unified by its late founder, King Abdul Aziz, the Arabian Peninsula had suffered its fair share of economic woes thanks to war and political strife within tribal factions.  → Read more at arabnews.com


 December 25, 2018

Coinages issued in Maharashtra dating back to 2600 BCE on display  → Read more at thehindu.com


 December 25, 2018

Gold prices advanced for a second straight day on Tuesday and rose Rs 125 on higher demand from local jewellers  → Read more at livemint.com


 December 27, 2018

In a sign of precious metals demand, sales of U.S. Mint American Eagle gold and …  → Read more at reuters.com


 December 27, 2018

Earlier this month, my friend Hugo Salinas Price emailed an interesting story about a single gold coin that that he still holds dearly. As I was shuffling papers in some old files, I came across a slip of paper on which I had written down the price I had paid for a Mexican $50 gold peso coin: 717 Mexican pesos.  → Read more at moneymaven.io


 December 27, 2018

Israel Antiquities Authority, JNF and Border Police stopped a band of thieves from stealing ancient coins from the Hukuk Synagogue archeological site in northern Israel on Thursday. "A quick response prevented damage to the magnificent and important treasures of the site," Nir Distelfeld, the antiquities theft inspector, said.  → Read more at jpost.com


 December 28, 2018

Operators of the historic Coin Press No. 1 inside Carson City's Nevada State Museum began striking silver medallions Friday with a commemorative Abraham Curry design created just for the occasion. On the last Friday of each month, the Nevada State Museum runs the coin press, which now mints unique collectible medallions.  → Read more at carsonnow.org

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Weekly World Numismatic News for December 9, 2018

Each week I look at the news from the week in order to highlight something interesting. With the holiday season upon us, I was hoping to find something nice to write about. Instead, Kitco’s story about the increasing sales of silver and a marketplace that is now moving is more concerning than positive.

Precious metals are the investment of last resort. While some portfolios will diversify into metals for a safe haven, metals become active when there is uncertainty in the market. The trade wars between the United States and China have caused market players to reduce their risk by investing in silver.

Although most prefer gold, silver has been the metal of choice for the Chinese for hundreds of years. It has been the benchmark of their trade and the basis for their monetary system prior to all countries moving off precious metals standards. It was the basis of trade that the United States thought would be resolved by creating the Trade Dollar coin in 1873.

The rise in silver sales from the U.S. Mint is good in that it will increase seigniorage. It is not so good in that it indicates there is the potential for the markets to change course. Markets hate uncertainty and this could be their answer to the uncertainty brewing in trade between China and the United States.

And now the news…

 November 28, 2018

Currencies / Fiat Currency The first gold coins appeared around 560 B.C. Over time it became a practice to store larger amounts of gold in warehouses.  → Read more at marketoracle.co.uk


 November 29, 2018

These days, you can't buy much with 5¢ – including the cost of making one. That's right, the cost of producing a 5¢ piece is about 5.059¢, and this is about the cheapest it's been in recent years. In 2015, the cost of producing a 5¢ piece hit a high of 7¢ due to the fluctuating cost of nickel and copper.  → Read more at smh.com.au


 November 29, 2018

Inmates in a Bulgarian prison were in for a shock when they stumbled across an enormous hoard of silver coins from the Ottoman Empire. The incredible haul was discovered alongside two broken treasure pots in a prison in the Bulgarian city of Pleven.  → Read more at mirror.co.uk


 December 2, 2018

The National Bank of Romania (BNR) has put into circulation, for numismatic purposes, a commemorative collector banknote with face value of lei 100 dedicated to the anniversary of 100 years since the Great Union on December 1, 1918.  → Read more at romania-insider.com


 December 3, 2018

Correcton:The U.S. Mint provided incorrect information on its website Monday morning, misstating the number of ounces sold in December. In an update of its sales data the U.S.  → Read more at kitco.com


 December 4, 2018

Rare gold coins and a golden earring have been discovered in the ancient Mediterranean port of Caesarea in northern Israel—possibly left and never recovered as Crusaders conquered the area 900 years ago.  → Read more at phys.org


 December 6, 2018

It was 150 years ago this month when one of Nevada's most treasured artifacts first arrived in Carson City.  → Read more at carsonnow.org


 December 6, 2018

Lianna Spurrier has the tooth fairy to thank for a hobby that transformed into sudden job opportunities.   → Read more at thetrailblazeronline.net


 December 8, 2018

This article first appeared in the Nevada Appeal on July 20, 2014. Abe Curry received papers on July 16, 1866, approving the start of construction on the Carson Mint.On  → Read more at nevadaappeal.com

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