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 Friday, August 22, 2008
Friday Fix
Posted by tom

TMgraph.gifFriday Fix

London pm fixes for 8-22-08

Gold $824.00

Silver $13.62

Platinum $1427.00

Palladium $288.00


Friday Fix
8/22/2008 4:02:24 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Thursday, August 21, 2008
Gold Enjoys Hefty Rebound
Posted by tom

TM-NEWS.gifPrecious Metals Whiplash

Gold enjoyed a tremendous surge this morning, running once again on renewed weakness for the U.S. dollar. After holding above the $800 level most of yesterday, gold pushed up to about $830 this morning and looks to be holding it own.

Silver is tagging along and has risen back above $13 to a bit over $13.60. Platinum and Palladium are also seeing marked improvements in morning trading.


News You Can Use
8/21/2008 10:08:55 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Tuesday, August 19, 2008
Giant Gold Panda in Ponterio #147
Posted by tom

TMgavel.gifGiant Gold Panda Offered in Ponterio #147

Ponterio & Associates always offer a wide selection of numismatic material in their auctions and the upcoming Beverly Hills sale #147 set for September 16 & 17 of this year is no exception.

While scanning through the auction catalog I noticed among the standouts a lovely set of 1/4 Ackey, 1/2 Ackey and Ackey 1796 silver tokens. These Gold Coast types are highly sought after in high grade and proofs are tough to find with nice even toning like this group displays. All three are NGC graded as Proof-62 or 63 and are being sold seperately as lots 231, 232 and 233. Estimates seem quite reasonable for the Ackey, while the fractional pieces are much higher than Standard Catalog values, indicating that adjustments might be warrented after we see the closing prices.

12 onza Panda.jpg

Several interesting Unusual World Coins are also being offered in this auction. One incredible eye popper is an extremely rare 12 Onzas medallic bullion piece from the Mexcio City Mint. This coin was from a series of medallic pieces struck to celebrate the 5th Birthday of Tohui a North American born Giant Panda. Tohui was born July 21, 1981 at the Chapultepec Zoo in Mexico. The Chapultepec Zoo has a long history of excellence in biological studies from it's founding in 1923 to today. Tohui was famous for being the first Giant Panda born outside China to stay alive, so her 5th birthday was quite an event.

Medallic coins commemorating Tohui's first five years were struck in silver, gold and platinum in various weights and denominations. The largest two pieces to be struck were denominated as 12 Onzas, one type in gold and one in platinum. I have never seen a platinum one offered for sale and this is the first time I have seen a gold example of this size on the market.

In addition, the example in Ponterio #147 is edge numbered 000, leading their catalogers to dub it a pattern, which may be the case. Either way, as a 000 edge numbered piece it would be unique.

Unusual World Coins lists the 12 Onza gold type as X#MB31. Mintage for this type is listed at 100 pieces and actual gold weight is just a touch shy of 12 ounces.

Ponterio's coin is being sold as lot 1369 of auction #147 with an estimate of $15,000-$20,000 and a grade of choice brilliant proof. Melt value on this piece would be about $10,000 given golds recent decline to the $800 an once level, making the auction estimate seem quite reasonable, if not a bit conservative given this pieces exceptional rarity.

Tohui passed away November 16, 1993, leaving a daughter, Xin Xin who was born through artificial insemination on July 1, 1990. But luckily for collectors many of the medallic issues commemorating Tohui's 5th birthday are still around to dazzle us, like this outstanding 12 ounce gold example.


Auction Lot of the Week
8/19/2008 12:18:48 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [1]
Donuts for Homer
Posted by tom

TM-NEWS.gifHomer Hobo Euro Amusement

My posting from last week about the discovery of a Spanish Euro coin artistically modified to sport a portrait of world renowned cartoon character Homer Simpson solicitied several comments from readers. My favorite came from friend and fellow numismatic humorist, Joe Zaffern who glibly offered two dozen doughnuts for any Homer Simpson Euro coin. Joe went on to suggest one of our more creative Unusal World Coin people might want to start a doughnut currency series.

That got me to thinking...which of course Joe knows can be dangerous.

Here's what I am wondering. What world coin could best be modified to showcase Marge, Lisa and Bart? Which, in turn, makes me wonder if there are any coins out there suitable to be worked into displaying Peter, Lois, Chris, Meg, Stewie or Brian Griffin from Family Guy?

Take a few minute out of your busy day and think about your favorite cartoon charcaters. Are there any coins out there aching for a bit of modification to host your personal cartoon hero? It'll be good for a laugh and we all need a few of those.


News You Can Use
8/19/2008 11:19:49 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
Silver Slips
Posted by tom

TM-NEWS.gifSilver Slips Below $13 Again

Continued weakening of preciosu metals prices has brought silver below $13 again this morning. Atr time of this posting it rests at about $12.90, with gold at about $790.

Platinum and Palladium have been hit harder over the last weeks. Palladium has reached a six year low and sits at about $276 this morning , with Platinum just shy of $1340.

For a time, the coin market will remain moderately uneffected by this current appearance of bearish trading decline. However, if it lasts through into the fall, I will be kept very busy lowering prices on modern gold coins for the new editions of the 20th and 21st Century Standard Catalog of World Coins books.


News You Can Use
8/19/2008 10:54:29 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Monday, August 18, 2008
Gold Recovers a Bit After Friday Pounding
Posted by tom

TM-NEWS.gifGold Bounce a Back A Bit

After enduring a harsh pounding to finish off a tough week, gold is seeing a bit of a rebound this morning with spot sprices rising from $786.50 to about $791.50 as of this posting. Silver also recouped a bit of it's last weeks loss moving from a Friday fix below $13 to about $13.15 as of this posting. 

Platinum and Palladium however, are still on the decline this morning. Palladium slipped from Friday's close of $295.50 to arround $280 as of this posting, with Platinum retreating from $1400 at Friday's London pm fix to the neighborhood of $1390 this morning.


News You Can Use
8/18/2008 10:55:59 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Friday, August 15, 2008
Friday Fix
Posted by tom

TMgraph.gifFriday Fix

London pm fixes for 8-15-08

Gold $786.50

Silver $12.82

Platinum $1400.00

Palladium $295.50


Friday Fix
8/15/2008 10:45:38 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Thursday, August 14, 2008
Gold Plummet Nears $800
Posted by tom

TM-NEWS.gifGold Decline Nears $800 An Once

Another day of gold sell-offs has brought this precious metal down to about $805, quickly nearing the $800 level. Silver is also on the slide with a spot price of about $14.15 as of this posting.

Consumer price data may be leading many to look for the Fed to raise interest rates to stem inflation. With the dollar already strengthening, this would be a likely move for the Fed, but one which would lead to less desire for gold as an inflation hedge. You can really see this effect taking charge in gold futures.

As a coin collector, I would not mind a slackening in the investment end of the precious metals market. This outrageous bull market for precious metals we have been experiencing will at some level begin to really deter collectors. With gold this high, the downside risk for a collector becomes a serious factor and for the bullion accumulator a rise as fast and steep as the market experienced last winter should be a huge warning sign.

We all tend to collect what we enjoy or appreciate, in terms of atristry and culture, but I always consider potential downside in evaluating purchase price. It's not wise to get carried away with the tide of a rising trend.


News You Can Use
8/14/2008 3:43:27 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [1]
 Tuesday, August 12, 2008
Downward Trend Continues For Gold
Posted by tom

TM-NEWS.gifPrecious Metals Slide Further

The precious metals slide continued this morning with Gold slipping below the $820 mark and all the rest following suit. Little purks of buying are making for choppy waters however, so we may see minor support at this level.

Platinum sits at $1465 and palladium $315 as of this posting. Sillver has steadied at a little over $14.65.

Crude oil has caught some buyer interest and is experiencing some up-swing. At present crude has climbed to about $115.50.


News You Can Use
8/12/2008 10:02:14 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Monday, August 11, 2008
Gold Falls Below $825
Posted by tom

TM-NEWS.gifGold Dive Continues Below $825

Precious metals continued their nose-dive today with gold falling below $825, silver dropping to $14.65, platinum slipping to about $1525 and Palladium hovering at about $320 at the time of this posting.

A surging dollar and falling crude oil round out the rest of the picture. Crude oil has dropped to about $114.50 as of this posting, with the U.S. dollar at about $1.50 to the Euro this afternoon.


News You Can Use
8/11/2008 5:58:32 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [0]
 Sunday, August 10, 2008
17th Century Revision Work Continues
Posted by tom

TMkplogo.gif1601-1700 Revisions Continue

Looks like a very busy week ahead for me and my co-workers as we continue our mighty revision of the 1601-1700 coinage for a new 4th edition of the 17th Century Standard Catalog of World Coins. I have been working through this weekend and several of my co-workers have given up their free time over the last few weeks in an effort to complete all the desired changes to our database in time for the new catalog to be available in the market by November of this year.

I have been finding lots of interesting coins as I scan through auctions in search of pertinent information. Some very tough German States issues have been offered here and there over the last eight years.

Pfalz-Simmern.jpg

In the September 5, 2006 UBS Auction 65, I noticed an extremely scarce 60 Kreuzer, or Gulden, of Pfalz-Simmern from 1661. This example realized about $4,600 in VF condition, with a planchet flaw. Someone who knew more than most was willing to pay a very good price to add this scarce example to their collection.

But this is just one example among countless price changes we have been entering over the last few months. With all these dramatic revisions, I am anticipating that this may be one of the best catalogs I have ever had the pleasure of editing.


KP Update
8/10/2008 5:07:26 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [2]
Hobo Euro Juan Carlos to Homer Simpson
Posted by tom

TM-NEWS.gifSpanish Simpson Hobo Euro Coin

spanish simpson.jpg

A Spanish sweet shop owner from Aviles discovered a nicely crafted Hobo Nickel style reworked Spanish Euro coin in the till recently while counting through the change. The artist altered King Juan Carlos from the obverse of a 2001 KM1046 Euro coin into Homer Simpson, leaving the rest of the obverse and reverse alone and as struck.

big homer.jpgThis is the first such alteration I have seen on a circulating Euro coin. A fun extension of the Hobo Nickel tradition and one which has caught some bloggers attention. Several blog postings at other sites are centering in on other restyling ideas for their own coinage, including some creative notions for U.S. coinage.

The shop owner and discoverer of the reworked Euro, Jose Martinez, has been offered 20 Euro for the coin. I guess that would be our base value, but I am sure Martinez could do better offering the coin on eBay, where the Hobo Nickel Society folks would be able to participate in a bidders battle, even though the artists execution leaves a bit to be desired on closer examination.


News You Can Use
8/10/2008 12:54:23 PM (Eastern Daylight Time, UTC-04:00)  #  Comments [1]