United States Coins

I would think there is an abundance of gold in the market and nobody is buying.

Since most gold are in the form of jewelry, the supply is there but buyers are not. So the higher the gold price is the lower the buyers would be. With the economy downturn, we should see a lower purchase of gold and maybe lower gold coin production too.

the u.s. mint sold a record high of 30,459,000 pc of american eagle silver one ounce coin and 1,386,500 pc of american eagle gold one ounce coin. 200,000 of american buffalo gold one ounce coin. all dated 2009. australia, u.k. austria and canada and china also posted higher sales.

The earth is not getting bountiful by the second thus, developed nations have been stockpiling mineral resources before a bigger economic turmoil arrive. Precious metals are getting scarcer specially platinum which is considered as the most strategic of all the metals.

gold should break the $1,300.00 per ounce this week. and run up to $1,350.00 in a very short period.

Ben Bernanke, the FED Secretary said that Gold panic is temporary. Gold did declined this week.

if you are bore. now you can see video on coin collecting at you tube.

https://www.youtube.com/watch?v=nMUiV1YWA_U&feature=related

the most popular coin forum:

http://forums.collectors.com/categories.cfm?catid=26

silver have overtaken gold as the second spot calculate since the end of last year closed.

palladium bid 527.00 ask 532.00 up 34.1%
silver bid 19.90 ask 19.92 up 17.1%
gold bid 1,249.00 ask 1,250.00 up 14.9%
platinum bid 1,562.00 ask 1,572.00 up 6.9%

Sep 7 2010 8:51AM NY Time
Bid/Ask 19.97 19.99
Low/High 19.53 20.04
Change +0.12 +0.60%
30DayChg +1.51 +8.18%
1YearChg +3.67 +22.52%

silver high - $20.18/oz.
gold high - $1,264.10/oz.

gold new all time high $1,278.90/oz. silver new current high at $20.84/oz. silver expected to hit and pass $22.00 to $24.00 easily.

gold pass another all time record high at $1,284.80 per ounce. silver also shine at $21.03 an ounce.

gold all time record high - $1,297.40/oz.
silver current high - $21.26/oz.

gold all time record high - $1,301,30/oz.
silver 30 years high - $21.65/oz.

gold all time record high erases again. now at $1,319.10/oz. silver 30 year high at $22.12/oz.

gold all time record high erases again. now at $1,321.80/oz. silver 30 year high at $22.17/oz.

silver new 30 year high - $22.26 per ounce.

gold new all time record high - $1,342.10/oz.
silver new high - $22.77/oz.

gold all time record high erase again. $1,352.10/oz. silver high at $23.11/oz.

gold hit $1,359.00 an ounce. a new all time record high.
silver climb to $23.44/oz. also a new 30 year high.

citigroup predicted gold will hit $1,450.00 within three months period. while silver will also up at $25.00 per ounce within the next three months.

Prices for precious metals keep climbing but the peso and other currencies is getting stronger against the dollar. I think this is a sign that the dollar is already at the point of its collapse.

new 30 year high for silver again. $23.69/oz.

I agree with FN that the American dollar is nearing collapse. It is being replaced rapidly as a reserve currency by banks around the world. Even if everything somehow were to suddenly go favorably for the US - which seems very unlikely - their debt would take decades to pay off.

There are emergency meetings going on quietly behind the scenes between the large central banks and China. The US refuses to take part in these talks. The US doesn't want to devalue their currency, and the American public and their politicians are in total denial.

What does all this mean for numismatics? To be sure, the decline in the US economy and the dropping exchange rate for the US dollar means fewer Americans are buying coins and notes outside their country. But, at the same time, it appears that the prices for quality Philippine material are rising! (Everyone has an opinion on this.) One current strategy is BUY in US dollars and SELL in pisos.

A significant currency adjustment is coming, with a forced devaluation of the US dollar, and a floating yuan possible but not likely for a little while. In the meantime, there are great opportunities out there to add to your collection, and to take advantage of a higher piso to dispose of unwanted material.

Kalookan

gold new all time record high - $1,368.90/oz.
silver new 30 year high - $23.71/oz.

gold new high - $1,380.50/oz.
silver new high - $24.42/oz.