News & Education

Gold Price Bouncing Around from Economic Data Released

Last Friday, gold held steady after the US gross domestic product numbers (GDP) showed a 2.2% increase in overall production. This was slightly ahead of the speculated increase of 2%. Initial estimates were actually at 2.6% growth and subsequently were revised downward.

Atlanta Federal Reserve bank president commented to the media that the June Fed FOMC meeting would be the first one to watch for interest rate hikes. He stated that subsequent 2015 FOMC meetings would all examine the issue of interest rate hikes being used to act as a counter measure to strong economic growth and an inflationary money supply.

The University of Michigan consumer sentiment survey was also released, the pending home sales figures for last month and the ISM Chicago business survey. The data may affect risk sentiment and a possible flight to safety and precious metals.

On Monday, gold traded at over $1220, with the rise in gold […]

By |March 4th, 2015|Categories: Gold News|Tags: |

Will Silver Top $50 an Ounce? Supply & Demands Suggests It Could

Three years ago, silver traded up to a double top of $50 an ounce, matching the high of $50 that was attained on January 22, 1980. When we look back, we see that on January 2, 1980, silver traded at a price of approximately $20 an ounce. During the next three weeks, silver traded to a futures high of near $50. Gold during that time frame had reached a high of $850 and the gold to silver ratio had shrunk down to 17:1.

The reason silver spiked to such previously unseen levels was due to the supply and demand fundamentals that govern commodity markets. The Hunt brothers, in an attempt to corner the silver market, had control of approximately 30% of the world’s tradable silver. That, coupled with high investor demand and industrial use, created a forced majeure – there was not enough physical silver to meet contractual delivery obligations. […]

By |March 2nd, 2015|Categories: Invest in Silver, Silver News|Tags: |

Gold Rises on Short Covering and Increased Asian Demand

Gold climbed $25 an ounce up to $1226 in early morning trading Thursday. Shorts scrambled to cover. Value investors also bought gold in the wake of a sliding U.S. dollar, a rise in crude oil prices and increased gold demand from Asia. Asian traders are now back to work after the Chinese Lunar new year holiday. As a result, gold buying turned upward in that region of the world, reflecting the growing Asian demand.

Investors also focused on the Fed comments on the health of the U.S. economy. Yellen stated that the economy is still showing signs of growth. She affirmed that the Fed still intends to raise interest rates to tighten money supply in response to that growth. The timing of the interest rate hikes remains uncertain. According to Yellen, the Fed will analyze the issue in each upcoming Fed meeting. The Fed will only bump up interest rates […]

By |February 27th, 2015|Categories: Gold News, Silver News|Tags: |

Divers Find Largest Ever Hoard of Israeli Gold Coins

They swam over what at first looked like a golden token from a board game, but they quickly realized that the token was a gold coin.

That initial discovery led to uncovering a stash of almost 2,000 gold coins.  According to the Israel Antiques Authority, the coins had been peacefully resting at the bottom of Israel’s Mediterranean Sea coast for the last 1,000 years.

The Antiques Authority believes that the gold coin collection was most likely intended for delivery to the Egyptian government as a form of tax payment from the ancient Caesarean province. Other theories are that the gold coins were intended as salaries for soldiers a military garrison, or perhaps were lost from a merchant ship that was traveling among the ports along the Mediterranean coast.

The gold coins are of several sizes and denominations, including a quarter dinar from Palermo, Sicily, dated from the ninth century. The majority of the rare gold coins […]

By |February 25th, 2015|Categories: Rare Coin News|Tags: |

1869 Seated $1 Misplaced & Repunched Date – PCGS MS62

This interesting Cherrypickers’ variety of the Seater silver dollar is quite rare because not only is the date misplaced, it exhibits microscopic repunching on the lower edges of the 1 and 8, with the top of a misplaced numeral (likely a 6) joining two dentil tips below the right side of the 6. Other repunched date varieties exist for this issue, though this is arguably the most intriguing.

The 1869 issue had a fairly substantial mintage of more than 423,000 coins, but the attrition rate was very high.  Today, survivors in any grade are elusive, with Mint State pieces being particularly so.  What’s more, double varieties such as this are extremely rare and difficult to come by.  Only two of these coins are known to exist.  This coin is the mark of an advanced rare coin collection.

This representative is boldly struck, with attractive semiprooflike fields and traces of light golden color on each side. […]

By |February 24th, 2015|Categories: Buy Silver Coins, Rare Coin News|Tags: |