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 Friday, January 11, 2008
Munich
Posted by tom
Tom's Recommended Film of the Week
Munich
I had borrowed Munich from my son several months ago, but given it's length of 2 hours 44 minutes, it was hard to find time to fit it into a day. The subject matter is what interested me, as the 1972 Olympic tragedy was an event I remember, but the aftermath I know very little about.
From a historical perspective the Black September abduction and murder of Israeli athletes is something we all heard about on the news, but the aftermath in the form of Israeli response was covert and kept from the public eye for many years. Munich, in part, was based on a book by George Jonas published in 1984, Vengeance: The True Story of an Israeli Counter-Terrorist Team, which puported to uncover this covert operation, but Steven Spielberg went further in researching and developing a story designed to touch deeper into all our thoughts and bring up themes very peritent to our world some 35 years later.
Spielberg offers a meaningful introduction to Munich on the DVD I watched and I would recommend seeing this before viewing the film. But even without his comments any viewer will be able to taste the conflict within the charcaters central to this film. The acting is superb, particularly from Eric Bana, Daniel Craig, Geoffrey Rush and Ciaran Hinds. The story is tense, heartfelt and meaningful. It's a thinking persons film and well worth the extended time frame.
Tom's Recommended Film of the Week
1/11/2008 5:42:46 PM (Eastern Standard Time, UTC-05:00)
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Heritage Presents Paper Money at FUN
Posted by tom
Heritage Currency Auction set for FUN
One more catalog just arrived on my desk via friend Joel Edler. This is the Heritage Currency Auction for FUN set to close over the period from January 10 to January 12. I'm a little late at alerting you to the goodies offered here, as the first day of the sale is over already, but the Friday and Saturday evening sessions are still open for bidding, so here goes.
Session Three of this sale, which begins on Friday evening, offers up what Heritgae is calling the Peter Gamble Collection. This is a group of some really rare U.S. notes in excellent conditions. The hightlight of this group, from my point of view would be the outstanding run of Gold Certificates and my favorite note in this group is the 1905 $20.
Session Four of the sale brings bidders a large selection of Nationals with large and small size notes represented from most every state and in most every state of preservation to accommodate a variety of pocketbooks. Over 1350 lots are available for collectors to choose from and while high grade Nationl Bank Notes are in great demand, there are many lower grade notes from scarce towns that may present good opportunites for careful buyers who attend this sale.
One example which caught my eye was lot 14714 a Covina, CA $20 1902 Plain Back. The lot description mentions Charley Colver, longtime California Nationals collector, Krause Publications representative, former mayor of Covina and friend for several years before his passing. Charley was a great guy and an excellent collector of Nationals and this note was issued from Charley's home town. While not in the highest state of preservation, it is still a very scarce issuer and should command some attention when it crosses the block.
The earlier sessions of this sale included a great selection of enclased postage stamps, all illustrated in full color with enlargments for easy viewing. There was also a large run of high grade Fractional Currency. You can check out the listings, images and resulting prices realized on the Heritage Auction achives.
Auction Lot of the Week
1/11/2008 12:36:02 PM (Eastern Standard Time, UTC-05:00)
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Friday Fix
Posted by tom
Friday Fix
London pm fixes for 1-11-08
Gold $891.00
Silver $16.06
Platinum $1564.00
Palladium $375.00
Friday Fix
1/11/2008 11:13:12 AM (Eastern Standard Time, UTC-05:00)
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Precious Metals & other Commodities
Posted by tom
What to Look For in 2008
Some more cautions and practical financial analysts are begining to shift their position in gold to the short term. I think their perspective is focused on the fact that thier prior projections have been met. Their expectations for both the US dollar and Gold have now occured and the markets are branching out into unexplored terrirtory, so reducing a long term position and shifting to short term holdings is the safe thing to do.
Others are still very bullish, considering rising demand and short falls in supply, but I am always skeptical of pie in the sky. Give me something I am sure of and I'll go, but present circumstances do not offer any assurances for me.
It might be time for investors to look towards other commodities for long term saftey. Most investors know that it is wise to spread your concerns over a wide area for best stability. Perhaps agricultural commodities are worth consideration?
But of course, we are numismatists and our fascination remains in metal discs, so we'll keep watching gold and silver and buy some of the coins we can afford, just for the fun of collecting.
News You Can Use
1/11/2008 9:37:02 AM (Eastern Standard Time, UTC-05:00)
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 Thursday, January 10, 2008
Gold Breaks $895
Posted by tom
Gold Aims for $900
In this afternoons trading Gold broke through $895 and remains strong, just slightly below that level as of this posting. This is all new territory for the most popular of precious metals, but investors are exibiting exceptional confidence in gold as a cautionary infaltion hedge.
If conditions remain the same, you can expect to see record breaking $900 an ounce gold today or tomorrow. If gold holds well at this benchmark, the bull may keep running.
Activity at FUN and NYINC must be crazy! Check in with Dave Harper at Buzz and George Cuhaj at Current Currency for updates from these two pace setting shows over the new few days.
News You Can Use
1/10/2008 5:35:34 PM (Eastern Standard Time, UTC-05:00)
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La Galerie Numismatique at Waldorf Astoria
Posted by tom
La Galerie Numismatique Offers Variety
Next on my pile of auction catalogs is one that friend and fellow blogger, George Cuhaj passed to me a few weeks back. It's a sale from La Galerie Numismatique, a Swiss firm from Lausanne that specializes in coins, medals, banknotes and military orders, all of which are represented in this auction which is set to close Sunday January 13th.
La Galerie Numismatique has begun a tradition of holding auctions in conjunction with the NYINC and their sales are a refreshing alteration from the norm in terms of variety of selection. Auction XI brings to the show a grand array of Russian coins including another Family 1 1/2 Rouble piece, a good run of ancient coinage, a huge selection of medals and nearly half of the catalog is devoted to orders and medals - military decorations and others.
There is so much to look at in this sale, I found it difficult to pinpoint special items, though a few things did stand out as more unusual. Under the listings for Romania they have grouped Moldavia, Transylvania, Romania Kingdom, and Romania Republic issues. It' a wonderful compilation which offers some aluminum splashes, a pattern proof set of 1914 as well as several other attractive patterns, a very rare 1608 Rudolf klippe Taler, several medallic gold issues of Carol II and a great run of four Moldavian coins from the 1400's.
In the Medals section I noticed many fascinating pieces sporting themes ranging from Agriculture to Automobiles, Geology to Horse racing, National Defense to Military Schools, Royalty to Science and Ships to Street dedications. One that caught my eye was lot 542, a gilt bronze medal from 1906 for the Israelite Society for Charity. It mentions Bucuresti and seems to honor the 50 Anniversary of the reign of Carol I.
Auction Lot of the Week
1/10/2008 9:35:54 AM (Eastern Standard Time, UTC-05:00)
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Days of Gold and Oil
Posted by tom
Gold Rush Indicators Positive
Gold assended to new heights yesterday topping out at $891.30, before profit taking drove the precious metal back to about $870 as of this posting. That drive has given gold it's all time record high, as well as establishing a new benchmark to crack and a new baseline to tow.
Long range predictions are all over the place, but the ones I trust the most indicate that gold may average about $825 through 2008 with peaks that may touch the grand $1000 mark. That's all new ground for the worlds most attractive commodity. The other side of this prediction would be that the dollar will be rebounding somewhat during 2008, with most of it's strength gained in the fall of the year. I am sure politics plays a roll in this thinking and since the basis of this gold boom is, in large part ephemeral, it would seem logical.
Yes, it is true that heavy key factors are in place for a gold rush; crude oil is rising, the dollar is dropping. Still, most U.S. economic measures are not so bad. Unemployment figures have just begun to rise, the housing market has been stalled for about a year, but most other concerns are just that, concerns. For this moment in time, we are all only anticipating based on the dropping dollar, stagnant construction and real estate and our own personal experience, which tells us to be afraid of what is coming.
Don't get me wrong, I'm not discounting all that. I'm just reminding everyone that, when gold ran this route in 1980 it was pushed by real double digit inflation, not just fears of inflation. Being safe is a good idea, but being realistic is more practical.
News You Can Use
1/10/2008 8:03:36 AM (Eastern Standard Time, UTC-05:00)
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 Tuesday, January 08, 2008
Gold & Silver Crash Barriers!
Posted by tom
Gold Breaks Through For Record High
Amidst economic and political concerns investors ran wildly towards gold and silver today, pushing the spot price of gold as high as $880 before it backed off to $878 as of this posting.
Silver was carried along for the ride, edging up above the $15.70 mark as this is written.
Another day of Dollar dropping must have been just too much for money mavens to stand.
Talk of gold as the worlds currency has been circulating around the internet in Blogs and opinion pieces the last few days and more folks seem to be looking at these comments much more seriously than before. As I have mentioned in past postings, gold will continue to swing opposite against the dollar, so look for gold to back off when the dollar has it's good days and drive when it fails.
Current pursuit of gold as an inflation preemtory hedge seems to be at paranoid levels.
News You Can Use
1/8/2008 4:42:53 PM (Eastern Standard Time, UTC-05:00)
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Heritage Offers Nearly 6000 Lots at FUN
Posted by tom
Heritage FUN Auction a Real Compendium of U.S. Coins
The next auction catalog on my pile is the massive Heritage U.S. Coin Auction set for the FUN show with closing dates from January 9 through January 12. This sale offers nearly 6000 lots of U.S. coinage suitable for all tasted and pocket books.
Sections which seemed particularly strong to me include; a wide selection of Colonial coinage, good run of small cents especially the Indian Heads, six 1918/7 Buffalo Nickels in various grades, twenty-two 1937-D three legged Buffalos, a large run of Standing Liberty quarters, a vast number of Bust, Seated and Barber silver in all grades and denominations, a substantial offering of Trade Dollars including many proofs, a nice group of Walk ing Liberty halves, an impressive selection of U.S. Gold.
Of special interest are the large sections of Error coins and Patterns which highlight the middle of the catalog and pop up between Thursday the 10th and Friday the 11th. A fascinating collection of double struck Indian Head cents is the center piece of the errors and offers the opportunity for a good start on a date set.
The selection of Patterns is outstanding, with some excellent designs represented as well as some very high rarity pieces. I have always been partial to patterns, so it is hard for me to pick just one to mention and illustrate here, but the 1/5 of a Dollar Judd-1396 offered as lot 3621 in this sale is a real beauty. Though the design has seen some debate amongst numismatists of note, I still find it attractive and this Proof-65 example is stellar.
One pattern which does not appear in the pattern section of the sale, but which is well worth looking for elsewhere is the exceptionally rare copper pattern of the 1860 Clark, Gruber & Co. Ten Dollar Territorial gold piece. This coin is beign offered as lot 5139 and has been graded MS-62 by PCGS. It's a rich chocolate brown and seems to catch the light very well. This pattern comes up for sale very seldom, so if you are interested in building a Pikes Peak collection, better throw your hat in the ring this Friday, or be prepared to be patient for a while.
This Heritage sale
ends with some very off-beat odds and ends which most every collector will find interesting, so visit their website and have a look.
Auction Lot of the Week
1/8/2008 2:26:30 PM (Eastern Standard Time, UTC-05:00)
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 Monday, January 07, 2008
Sturdy U.S Coin Auction From Stack's
Posted by tom
Franklinton Collection Offers Solid U.S. Selection
Our second auction takes place tonight in Orlando and is presented by Stack's. The Franklinton Collection Part 2 contains a vast selection of quality U.S. coins with items suitable for both mainstream U.S. coin collectors as well as higher level specialists.
In looking through this catalog I noticed good runs of large cents and qu arters. Three 1796 quarters are offered here, with two being lower grade and one in MS-64. The half dollars and dollars offered are also extensive, so collectors should take notice. A vast selection of various denominations of U.S. gold makes up the middle of this auction, with many high grade pieces up for sale. Highlights in the gold include a Flowing Hair Stella and an AU-58 1796 Eagle which should cause a stir of activity.
A nice group of Territorial Gold pieces rounds out the sale and there is where I noticed my first lot of special interest. Lot 1160 is an original gold Horseman. The Baldwin & Co. California Gold Ten Dollars of 1850 is not often seen for sale and it's cowboy design is always in demand. This example is graded choice Extremely Fine-45. I would anticipate spirited bidding.
On a side note, I have been noticing many of the modern restrikes of various California Territorial Gold issues in public auctions of late. This sale is no different, offering a Baldwin & Co. Horseman restike and a Kellog $50 restrike. When time permits, George Cuhaj and I hope to write these restrikes up for inclusion in our Unusual World Coin listings.
This sale is wrapped up with a nice array of U.S. pattern coinage and a good selection of classic commemorative types in both silver and gold.
One more pairing well work special mention are lots 88 and 502. Lot 88 contains a prime example of the Haseltine restike of the 1861 Confederate Cent. This is one of the 55 piece copper stiking done after Haseltine acquired the orginial dies. Lot 502 in this sale offers the second half of the equation, the Scott restike of the 1861 Confederate Half Dollar. Scott used planed down 1861-O halves as planchets and struck the CSA die onto the planned filed, leaving the seated liberty a bit flattened. 500 pieces were struck, but this MS-64 represents one of the finest available.
Auction Lot of the Week
1/7/2008 10:34:12 AM (Eastern Standard Time, UTC-05:00)
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 Saturday, January 05, 2008
Wonderful Selection at Heritage World Auction
Posted by tom
Heritage World & Ancient Coin Auction January 6-7, 2008
The first auction on hand is taking place on January 6-7 in New York. You'd have to consider this one, from Heritage Auction Galleries, a pre-NYINC sale, but given the current strength of the Euro, I am sure many European dealers will be on hand to keep prices buoyant.
In running over this sale, I had to stop often to take a closer look at special lots. From the letter A on through Z this auction offers outstanding material and many items I have not often seen offered for public sale. At the top of my interest list were the following; several Bolivian Royals and Heart-shaped cobs, including a seldom seen and very rare Heart-shaped 4 Reales, a number of Heaton Mint proofs from various countries spattered throughout the sale, an odd little 1/4 Real with the LIMAE monogram which begs form more research, a set of Haile Selassie white metal trial strikes, a full set of French West Africa token coinage from 1883, an attractive example of the 1811 Isenburg Taler, a wonderful array of British coinage, some super high grade examples of scarce coins from Mexico, Japan and Italian Somalia, a whopper sized Polish Pope John Paul II gold coin, three scarce 1920 aluminum Reunion tokens, a great selection of Russian coins including the rare offering of two types of the 1 1/2 Family Rouble, some very choice South African items, a scarce Caracas Un Real holed, but never-the-less desirable, and a nice selection of the few coins issued for Zanzibar.
For this auction I could only narrow my personal selections of interest down to two coins. First is lot 50111 from Entre Rios, Argentina. This lot is cataloged as a "1/2 Real of 1867, similar to KM1, but with an obverse highly similar to the circulating USA $1 gold pieces of the era". This is a good verbal description and the lot write-up also includes some excellent historical information about the Entre Rios issues authorized by general Urquiza and created by Pablo Cataldi during a coinage shortage in 1867. What it does not explain can be learned from Hector Carlos Janson's excellent book La Moneda Circulante En El Territorio Argentino 1767-1998. Janson lists the one 1/2 Real coin as CJ#2, which matches our KM#1. As far as I know this is the only coin struck for circulation in this area at this time period. Janson lists the piece in the Heritage sale as CJ#3, one example of eight different types of monetary based medals struck using the obverse or reverse dies of the circulating coin combined with distinctly medallic pairings. Not to say that this piece is not a rarity, on the contrary, it jumped out at me because it is the first time I have seen one offered fro sale in an auction. Janson places the medals at values about twice as high as the coin, but they may be even scarcer than that, as his book used line drawings or rubbings for several illustrations. I will be anxious to see how this lot does tomorrow! Also of interest in Janson's book is a beautiful an ultra rare Peso sized medal with a great portrait of Urquiza on the obverse.
The second coin I could just not pass up saying a little more about is cataloged as lot 51755. It starts off a small run of Hookneck coins from the beginning of the Republic of Mexico. Most Hookneck coins are very desirable and both rare and pricey in high grade, but this little 1 Real of Durango is a big find for any collector and should command great attention in any grade. The 1 Real Hooknecks were only struck at Durango and this variety is the only one within most collectors reach. It's estimate range of $5500-$6500 is quite reasonable and I would expect this coin to see some spirited bidding.
Auction Lot of the Week
1/5/2008 6:20:30 PM (Eastern Standard Time, UTC-05:00)
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Auctions Galore in January 2008
Posted by tom
Plethora of Auctions Start Off New Year With Bang
Judging form the pile of auction catalogs building up on my desk, I would say that January 2008 should have something for everyone when it comes to coins crossing the block.
As a result of this abundance, I have decided to try to write a brief posting covering each auction catalog I have on hand. You'll get a general rundown from my perspective, plus I'll try to pick out one highlight item from each sale which sparks my interest.
Time is tight, so I'll be writing these just shortly before the auctions will be taking place. Keep an eye on Big Ideas, little world each day over the next eight days or so to catch everything.
Auction Lot of the Week
1/5/2008 4:35:04 PM (Eastern Standard Time, UTC-05:00)
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