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PMANA requests House Committee on Ways and Means to bring fairness to the taxation of precious-metal coins and bullion

July 28, 2017 in Blogs, Bullion, Coins, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legislation, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Politics, Precious Metals, Press Releases, Silver, Silver Coins, US Government, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

The following press release is courtesy of the Precious Metals Association of North America (PMANA).


(Washington, D.C.)—Discussions surrounding tax reform have heightened in recent weeks, and the Precious Metals Association of North America (PMANA) has offered testimony before the House Committee on Ways and Means asking for a change in the Internal Revenue Code that would bring fairness to precious-metals bullion and coin investors, while also creating smart investment opportunities for Americans.

Since 1982, gains made on precious-metals bullion have been taxed at the ordinary income rate due to language defining such bullion as a “collectible.” Congress has made numerous attempts to… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Texas: Home of the first state-run bullion depository in the U.S.

June 20, 2017 in Blogs, Bullion, Gold, Gold Bullion, History, Investing, News, Numismatica, Numismatics, Precious Metals, US Government

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

The Texas state capitol building, Austin. (Photo by Ed Uthman)

The Texas state capitol building, Austin. (Photo by Ed Uthman)

Lone Star Tangible Assets (LSTA), an Austin-based firm, has signed a five-year contract with the government of Texas to manage the state’s bullion depository, which will be under the authority of the state comptroller general (currently Glenn Hegar).

Prior to the law authorizing the Texas Bullion Depository, such facilities were privately owned, with the exception of the massive depositories of the federal government. They tend to be clustered near the New York financial hub, in part because of COMEX requirements that its member depositories be located within 150 miles of New… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Texas Attorney General Issues Gold Coins Consumer Protection Tips

May 22, 2017 in Bullion, Coins, Coins for sale, Collecting, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, Opinion, Precious Metals, Press Releases, PSA, Rare Coins, US Government, USA Coins, World Coins

News media contacts:

Paul Stein, for Universal Coin & Bullion, 409-860-9077
Texas Attorney General’s office, 800-252-8011

Texas Attorney General Issues
Gold Coins Consumer Protection Tips

(Austin, Texas) May 22, 2017 – With input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins.  

Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney general’s office on this important consumer alert. Fuljenz, in coordination with other key numismatic industry leaders, offered guidance on consumer protection best practices for precious metals consumers.

The advisory notes that senior citizens make up about 14% of the U.S. population but account for 60% of the callers to the National Fraud Information Center.

Paxton’s advisory cautions consumers and investors: “If coins you bought as an investment would have to double or triple in value before any gain could be realized, you may have been a victim of fraud.”

Entitled “Consumers Should Do Their Research Before and After Investing in Gold Coins,” the advisory emphasizes the crucial importance of working with reputable dealers to help avoid paying too much when buying or receiving too little when selling.  Paxton’s office recommends researching dealers through the Better Business Bureau, the American Numismatic Association, the Professional Numismatists Guild, Professional Coin Grading Service and Numismatic Guaranty Corporation.

“By issuing this important consumer protection advisory, Texas is not only assisting Lone Star state residents but providing nationwide benefits to the public who can access this useful information online.  Attorneys general across the country now also have a template to provide consumer protection advice to their residents about buying and selling gold bullion and gold coins,” said Fuljenz.

Among other tips in the Texas Attorney General’s advisory:

Do not respond to callers not previously contacted. Cold callers often are not registered in Texas to legally telemarket and often try to pressure customers to act quickly.

Do not do business with a dealer who guarantees your purchases are totally safe, will go up in value or can’t go down, stresses government gold confiscation or says he will buy them back for what you paid at any time.

The full consumer protection advisory from Texas Attorney General Paxton is available online and as a printable PDF document at www.texasattorneygeneral.gov/cpd/gold-coins.

Regretfully, due to print limitations, additional buying and selling tips were excluded, said Fuljenz, including avoiding false grading claims, advice about return privileges and urging caution if sellers receive certified money orders or certified checks from unknown buyers because they could be counterfeit.  All ten of the additional consumer protection tips are available online at www.MikeFuljenz.com/goldtips.

At Fuljenz’ request, the following are among the precious metal industry leaders who provided input to him for the advisory. Their names are listed alphabetically with affiliations given only for identification purposes.

Gary Adkins, American Numismatic Association Vice President and former Professional Numismatists Guild President

John Albanese, co-founder of Professional Coin Grading Service, Numismatic Guaranty Corporation and CAC

Doug Davis, Founder of Numismatic Crime Information Center, City Manager and former Police Chief of Pantego, Texas

Beth Deisher, Director of Anti-Counterfeiting for the Industry Council for Tangible Assets and former Editor of Coin World

Terry Hanlon, Dillon Gage Metals President, former PNG President

Jerry Jordan, award-winning investigative reporter and former Texas newspaper editor

Kathy McFadden, ICTA Executive Director

Rick Montgomery, NGC President

Donn Pearlman, public relations consultant, ANA Zerbe Award recipient, former ANA Governor and former journalist/broadcaster

Jay Sheppard, Better Business Bureau Serving Southeast Texas Dispute Resolution Director

Miles Standish, NGC Vice President

Universal Coin & Bullion (www.UniversalCoin.com) President Michael Fuljenz has won more than 60 prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  He is on the Boards of Directors of the influential Industry Council For Tangible Assets, Crime Stoppers of Jefferson and Hardin Counties Texas, and is a member of the prestigious Professional Numismatists Guild which honored him along with Doug Davis and Jerry Jordan in 2016 with its Sol Kaplan Award for helping to fight numismatic-related crimes.

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New to gold investing? The FTC has these tips

March 24, 2017 in Bullion, Coins, Collecting, Education, Gold, Gold Bullion, Investing, IRA, News, Numismatica, Numismatics, Opinion, Precious Metals, US Government

By: Coin Update News.CoinUpdate.com (Coin Update News)


“Police say two Bend teens made more than $50,000 selling fake bars of gold.” That’s the headline in today’s Register-Guard, a newspaper in Eugene, Oregon. It seems the two budding criminals got hold of fake, 1-ounce gold bars purported to be from the Perth Mint and the Royal Canadian Mint, in seemingly official, tamper-proof packaging. Then they went on Craigslist and connected with potential buyers. The unscrupulous juveniles rooked at least three adults—including an experienced coin dealer, who bought the majority of their stock* from individuals who’d purchased it directly from the teens.

This story seemed like a good intro… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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New to bullion investing? Important guidelines to get you safely started

March 17, 2017 in Bullion, Coins, Collecting, Education, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatica, Numismatics, Opinion, Platinum, Platinum Coins, Precious Metals, Silver, Silver Coins, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

Student loans, auto loans, home mortgages, and similar expenditures are major financial milestones—most people encounter one or more of them at some point in life. If you don’t have direct experience in these areas, you almost certainly know someone who does, and they can point you in the right direction.

Investing in coins or precious metals, on the other hand, is very different. If you aren’t already in the know, chances are your friends and relatives aren’t, either. Lack of information leaves people especially vulnerable to fraud, whether it’s malicious (as with counterfeit coins) or simply ignorant (overcharging for legitimate items… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Will the Trump administration make gold great again?

March 2, 2017 in Coins, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legislation, News, Numismatica, Numismatics, Opinion, Precious Metals, US Federal Reserve, US Government, US Mint

By: Louis Golino News.CoinUpdate.com (Coin Update News)

Donald Trump has been interested in gold for decades and once reportedly accepted rent payment in gold bars when APMEX was opening a New York branch back in 2011 (see photo above, or scroll down for video). He also bought a large quantity of gold for about $185 an ounce when gold ownership was legalized in 1975, and sold at just under $800 an ounce years later.

Trump has expressed qualified support for the idea of returning to the gold standard but has not backed any specific plan to do so. For example, during the 2016 presidential campaign he told GQ… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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How the Mint audits the nation’s deep-storage gold

March 1, 2017 in Blogs, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legal, Legislation, Numismatica, Numismatics, Opinion, Precious Metals, US Government, US Mint

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

Weighing-gold

The status of the U.S. gold reserves has long been a point of discussion, as all information on the subject is closely guarded by the Treasury. Although information on annual audits is available, the average person is unaware of it; and even those who know it exists generally don’t know where to find it. Couple these facts with the public’s widespread distrust of Congress and government agencies, and it’s no wonder that rumors about the nation’s gold supply have run rampant for decades. Nearly every coin and/or investment forum on the Internet, if you dig deeply enough, has hosted discussions Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Precious Metals Update: Bullion Sales Up

September 21, 2016 in Bullion, Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Eagles, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint’s authorized purchasers (AP’s) bought 945,000 2016 American Eagle silver bullion coins last week, well up from 170,000 pieces sold during the previous period.

One-ounce Silver Eagles have sold 30,155,500 pieces so far this year. As we are currently 72% of the way through 2016 and sales for these issues have reached only 64% of last year’s total of 47 million ounces, ASE sales remain unlikely to reach last year’s total.

Gold’s value decreased by $10.80 an ounce during the past week. Gold is now appraised at $1,313.80 according to the London Bullion Market Association. The value… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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U.S. Mint 2016 Bullion Sales Update: Platinum, Gold, and Silver Prices Rise

August 1, 2016 in Blogs, Bullion, Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Coins, Gold Eagles, History, Investing, News, Numismatica, Numismatics, Platinum, Platinum Coins, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Dan Holmes Mint News Blog (http://mintnewsblog.com)

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Gold, silver, and platinum have all gained in value during the past week, making it an apt time to look at recent trends in U.S. Mint bullion sales. Platinum in particular has been quite visible of late, with prices rising just as the Mint begins issuing its 2016 American Eagle one-ounce platinum bullion coins.

As noted on Monday, the Mint began accepting orders for bullion Platinum Eagles on July 25. Authorized purchasers (AP’s) scooped up an impressive 17,100 pieces in one day, giving this year’s one-ounce Platinum Eagles their fifth-highest mintage ever. On Tuesday another 1,300 coins were sold…, Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Precious Metals Update: Silver Eagle Allocation Exceeds 3.6 Million

July 11, 2016 in Bullion, Coins, Coins for sale, Collecting, Education, Gold, Gold Bullion, Gold Coins, Gold Eagles, Market Report, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, US Mint, USA Coins

By: Dan Holmes News.CoinUpdate.com (Coin Update News)

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The U.S. Mint’s authorized purchasers (AP’s) bought 250,000 of last week‘s 2,839,500-ounce allocation of 2016 American Eagle silver bullion coins, leaving 2,589,500 unsold. This is the most unsold Silver Eagles we’ve seen so far this year, continuing a recent trend that has seen the Mint’s inventory growing with the help of consistent production and softer demand.

Sales for the issues dropped sharply, due in part to the observance of the Fourth of July holiday. AP’s bought 73% fewer Silver Eagles during this period than the 938,000 ounces reported last week. The unsold pieces have been added to this week’s… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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U.S. Mint Sales Report: 2016 Coin & Currency Set Debuts, No Change for Gold Mercury Dimes

June 22, 2016 in Coins, Coins for sale, Collecting, Collector Sets, Commemorative, Currency, Dollar Coins, Education, Gold, Gold Bullion, Gold Coins, History, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Dan Holmes News.CoinUpdate.com (Coin Update News)

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The U.S. Mint has shared its new sales report, giving us our first weekly total for the 2016 American $1 Coin and Currency Set. The set was released on June 16 and sold 21,149 units on its first day; orders submitted over the following three days totaled 3,348, bringing the overall total to 24,497 as of Sunday evening. The new Coin and Currency Set was easily the Mint’s highest-selling product of the week.

Also notable is the fact that the sales figure for the 2016 Mercury Dime Centennial Gold Coin did not see a negative correction for… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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American Buffalo Bullion Coins Get Packaging Overhaul

May 6, 2016 in American Buffalo, Bullion, Coins, Collecting, Gold, Gold Buffalo, Gold Bullion, Gold Coins, Investing, News, Numismatica, Numismatics, Precious Metals, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint has updated its packaging for American Buffalo Gold Bullion Coins, ushering in the use of hard plastic containers similar to those employed to ship gold and silver American Eagle bullion coins.

Plastic tubes used to ship the coins contain 20 one-ounce pieces each; the larger boxes are packed with 25 tubes, totaling 500 coins. Gold Eagles are transported in red containers, while Silver Eagles are shipped in green packaging. The new Gold Buffalo tubes and boxes are orange, according to a press release.

American Buffalo bullion coins will now be shipped in orange… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Use Caution To Avoid Gold And Silver Counterfeits, Advises Professional Numismatists Guild.

May 3, 2016 in Bullion, Coins, Coins for sale, Collecting, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Gold Eagles, Numismatic Crimes, Numismatica, Numismatics, PNG Professional Numismatists Guild, Precious Metals, Silver, Silver Coins, USA Coins

For immediate release
May 3, 2016

Use Caution To Avoid Gold And Silver Counterfeits, Advises Professional Numismatists Guild.

 

Historic, genuine 1803 Draped Bust design U.S. silver dollars in Very Fine condition are currently valued at about $3,000. This counterfeit 1803-dated dollar was recently offered in a Hong Kong flea market for less than $3. (Photo by Donn Pearlman.)

Historic, genuine 1803 Draped Bust design U.S. silver dollars in Very Fine condition are currently valued at about $3,000. This counterfeit 1803-dated dollar was recently offered in a Hong Kong flea market for less than $3. (Photo by Donn Pearlman.)

(Temecula, California) – Beware of counterfeit vintage rare coins and fake modern gold and silver bullion items now being offered in the marketplace.  Purchase only from reputable dealers, cautions the Professional Numismatists Guild (www.PNGdealers.org).

The PNG is a nonprofit organization composed of many of the country’s top numismatic experts.

“It is clear there is an increase in the types of fakes sold by unscrupulous dealers.  These sales of counterfeit coins are potentially a multi-million dollar problem for the public.  There’s an old saying that can help buyers avoid problems: If you don’t know coins, you better know your dealer,” stated Professional Numismatists Guild (PNG) President Dana Samuelson.

“We conducted an informal inquiry of PNG members and PNG Accredited Precious Metals Dealers (APMD) about what they’re encountering now in the marketplace.  They have seen everything from counterfeits of vintage rare coins to modern precious metal items.  These include fakes of popular century-old U.S. Morgan and Peace design silver dollars to current gold and silver American Eagles, gold U.S. Buffalo coins, silver and gold Chinese Pandas, and Canadian silver and gold Maple Leaf coins.  We’re also seeing spurious gold and silver ingots,” said Samuelson.

“Professional dealers who look at classic U.S. coins and bullion items all day long are usually not fooled by these spurious items, but to the untrained eye they often look like the real thing,” he explained.

“Many of the fakes apparently are originating in China and then offered online by various sellers.  It is imperative that collectors, investors and the general public deal only with reputable, knowledgeable experts who offer a guarantee of authenticity,” emphasized Samuelson.

Two PNG members who recently were in Asia say they saw counterfeits of early 19th century Draped Bust, mid 19th century Seated Liberty and late 19th and early 20th century Morgan and Peace silver dollars being sold in flea markets in China and Hong Kong for $1 to $3 each.

Unsuspecting buyers have submitted counterfeit modern bullion coins to Numismatic Guaranty Corporation (www.NGCcoin.com) for authentication and grading. NGC, the official grading service of PNG, earlier reported submissions of counterfeit 2012-dated gold American Eagle $50 denomination coins.

The front and back of a counterfeit 2012-dated American Eagle $50 denomination one-ounce gold bullion coin. (Photo courtesy of Numismatic Guaranty Corporation.)

The front and back of a counterfeit 2012-dated American Eagle $50 denomination one-ounce gold bullion coin. (Photo courtesy of Numismatic Guaranty Corporation.)

Those particular counterfeits exhibit poorly defined details around Liberty’s face and hair, different fonts for lettering and the date compared to genuine coins and the color is different because the fakes are not composed of gold, according to Max Spiegel, a Vice President of Certified Collectibles Group, NGC’s parent company.

PNG and PNG Accredited Precious Metals Dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise including bullion coins, precious metal rounds and ingots, and they offer a guarantee of authenticity for the numismatic items they sell.

For a list of PNG-APMD members visit www.PNGdealers.org and click on the APMD navigation link.

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Royal British Mint Issues New “Queen’s Beasts” Gold and Silver Bullion Coins

March 29, 2016 in Blogs, British Coins, Bullion, Coins, Coins for sale, Collecting, Collector Sets, Commemorative, English Coins, Gold, Gold Bullion, Gold Coins, History, New Releases, News, Numismatica, Numismatics, Offers, Precious Metals, Royal British Mint, Silver, Silver Coins, UK Coins, World Coins

By: Dan Holmes world.mintnewsblog.com (News and Commentary on World Coins)

Queens-Beasts-Lion-2oz-Silver-StackSMALL

The Royal British Mint has announced the release of an impressive new series of gold and silver bullion coins entitled “The Queen’s Beasts.” The series will pay homage to Queen Elizabeth II by depicting various heraldic animals symbolizing strains of her ancestry.

The first design, created Jody Clark, will be available on one-ounce and 1/4-ounce gold coins, as well as on two-ounce silver issues. The one-ounce gold coins can be purchased now from authorized bullion dealers, while the others issues are expected shortly.

96671_SlabSMALLThe obverse features… Full article at the source>

Source: world.mintnewsblog.com (News and Commentary on World Coins)

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Precious Metals Update: Silver Eagle Allocation Continues, Gold Down Again

March 28, 2016 in Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Coins, Gold Eagles, History, Investing, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint has continued its pattern of releasing one million American Eagle one-ounce silver bullion coins per week by issuing a new allocation today. Last week’s inventory had been purchased by the Mint’s authorized buyers as of Thursday, bringing 2016’s overall total to 14 million ounces sold.

Even with the ongoing rationing of silver bullion, the Mint is on pace to have its biggest sales year ever for the commodity, and has already exceeded 29.7% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.

Gold has dropped $23.35 an ounce since this time last week, and is Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Indiana Governor Signs Sales-Tax Exemption Bill for Coins and Paper Money

March 28, 2016 in Bullion, Coins, Collecting, Gold, Gold Bullion, History, Investing, Legal, News, Numismatica, Numismatics, Press Releases, Silver, Silver Coins, US Government

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The Industry Council for Tangible Assets has shared the following press release:

ANNAPOLIS, MD — On March 24, Indiana governor Mike Pence signed into law HB 1046, which provides for a sales-tax exemption on rare coins, paper money, and precious-metals bullion. The new law will take effect on July 1. Indiana becomes the 33rd state to have a complete or partial sales-tax exemption on the retail sales of rare coins, paper money, and precious-metals bullion.

The bill was authored by Representative Greg Beumer; co-authored by Rep. David Wolkins, Rep. Robert Heaton, and Rep. David Niezgodski; and sponsored by Sen. Brandt… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Precious Metals Update: New Silver Eagle Allocation, Gold Slips Below $1,250

March 22, 2016 in Bullion, Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Coins, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint has allocated another 1 million coins for sale to its authorized purchasers this week after selling last week’s inventory within three days. Also notable is the fact that Shawnee 5 oz. bullion coins have been stuck at 105,000 pieces sold for several weeks as we gear up for the release of the Cumberland National Historical Park 5 oz. bullion coins, which are likely to arrive in early February.

Even with the ongoing rationing of silver bullion, the Mint is on pace to have its biggest sales year ever for the commodity, and has already exceeded 27%… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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2016 American Eagle Gold Proof Coins Debut, 4-Coin Set Now Unavailable

March 18, 2016 in Coins, Coins for sale, Collecting, Collector Sets, E-commerce, Gold, Gold Bullion, Gold Coins, Gold Eagles, Investing, New Releases, News, Numismatica, Numismatics, Offers, Precious Metals, Proof Coins, US Mint, USA Coins

By Dan Holmes News.CoinUpdate.com (Coin Update News)

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Today the U.S. Mint released its 2016 American Eagle Gold Proof Coins, which are composed of 22-karat gold and are offered in 1/10-ounce, 1/4-ounce, 1/2-ounce, and 1-ounce versions.

A four-coin set containing all of these issues has also been issued, but went into “Currently Unavailable” status on the Mint’s Web site less than three hours after its release. There are no sales restrictions or production limits in place for either the set or the individual coins, though, so it is likely that the four-coin set will become available again soon.

The obverse… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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2016 American Eagle Gold Proof Coins

March 17, 2016 in Blogs, Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Coins, Gold Eagles, New Releases, News, Numismatica, Numismatics, Precious Metals, Proof Coins, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

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Today the U.S. Mint released its 2016 American Eagle Gold Proof Coins, which are composed of 22-karat gold and are offered as 1/10-ounce, 1/4-ounce, 1/2-ounce, and 1-ounce versions. A four-coin set containing all of these issues is also currently available for the price of $2,890. There are no sales restrictions or production limits in place for these coins.

16ec_aSMALLLerThe Gold Eagle obverse features a classic design by Augustus Saint Gaudens, originally featured on double eagles from 1907 to 1933… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Up to 63,000 Gold Eagles Accidentally Struck in High Relief

March 16, 2016 in Bullion, Coin Errors, Coins, Coins for sale, Collecting, Errors, Gold, Gold Bullion, Gold Coins, Gold Eagles, History, News, Numismatica, Numismatics, Precious Metals, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint has conceded that as many as 63,000 one-ounce American Eagle gold bullion coins were accidentally struck with high relief obverses, according to Coin World. The Mint is investigating the circumstances that led to the abnormality, which causes the coins to scrape against one another when stacked, as the rims were struck to the appropriate dimensions.

Coin World learned of the development through an anonymous tip, and Tom Jurkowsky, director of the Mint’s Office of Corporate Communications, subsequently disclosed the 63,000-coin estimate.

Some bullion shipments containing the high relief Gold Eagles went out to the Mint’s authorized purchasers, as confirmed Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Precious Metals Update: 1 Million More Silver Eagles, Gold Sees Modest Loss

March 14, 2016 in Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The U.S. Mint continues to sell millions of one-ounce American Eagle Silver Bullion Coins as fast as it can produce them. Authorized purchasers will have access to another one million coins this week, in keeping with the Mint’s newly established pattern of releasing allocated Silver Eagles in consistent quantities.

Even with the ongoing rationing of silver bullion, the Mint is on pace to have its biggest sales year ever for the commodity, and has already exceeded 25% of last year’s record-breaking total of 47 million ounces sold.

If gold’s current value holds steady, we could see an increase for the Mint’s gold… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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U.S. Mint Running Low on Silver and Gold Numismatic Inventory

March 7, 2016 in Blogs, Bullion, Coins, Coins for sale, Collecting, Collector Sets, Commemorative, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

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The U.S. Mint is running low on inventory for the majority of its gold and silver numismatic products.

Seven of eight America the Beautiful five-ounce silver Uncirculated coins are currently listed as “Sold Out” or “Unavailable” on the Mint’s Web site, with only the 2015 Homestead National Monument issue — which had sold 21,123 of a possible 30,000 units as of Monday — in stock on the Mint’s Web site. The Shawnee 5 oz. Uncirculated Coin, released less than two weeks ago, became Unavailable on March 3.

As noted in the comments of the last post, the… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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A Big Day for Bullion: Milestones for Shawnee and ASE’s

February 26, 2016 in Bullion, Coins, Coins for sale, Gold, Gold Bullion, Gold Coins, History, Investing, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Dan Holmes News.CoinUpdate.com (Coin Update News)

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There have been some significant milestones for U.S. Mint bullion sales today. The Mint may be having trouble keeping some of its gold and Uncirculated collector coins in stock, but it’s had so such problems providing huge amounts of investor strikes to voracious authorized purchasers.

The Mint sold out this week’s allocation of 1,073,500 ounces of American Eagle Silver bullion coins today, bringing the overall total for 2016 to 10 million coins sold. Considering the fact that the all-time sales record for the issues reached 47,000,000 ounces last year, 10 million is an impressive total to reach… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Gold Value Hits Highest Point in a Year

February 14, 2016 in Bullion, Coins, Gold, Gold Bullion, Gold Coins, Gold Eagles, Investing, News, Numismatica, Numismatics, Precious Metals, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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Gold continued to come on strong this week, increasing its value by $66.35 per ounce over the last five days to end at its highest point since February 9 of last year. Currently listed at $1,239.75 by the London Bullion Market Association, the commodity has gained particular momentum since the start of the new year, and has risen over $177 per ounce in the last six weeks.

Gold’s growing strength is helping to drive strong sales of the U.S. Mint’s 2016 gold bullion coins, which have already exceeded totals for all of January and February of 2015… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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U.S. Mint Raises Prices on Gold Coins Twice in Three Weeks

February 11, 2016 in Coins, Coins for sale, Collecting, Gold, Gold Bullion, Gold Coins, Gold Eagles, News, Numismatica, Numismatics, Precious Metals, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

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The value of an ounce of gold has climbed roughly $100 in the past month, prompting the U.S. Mint to raise the prices of its gold coins for the second time in less than three weeks. Prices for the U.S. Mint’s gold coins are adjusted in accordance with the metal’s fluctuating market value, which is currently listed as $1,190.00 an ounce by the… London Bullion Market Association.

The Mint’s former prices for gold coins were held in effect as long as gold stayed between $1,100.00 and $1,149.99 per ounce. The current prices, established today, will hold as long as Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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