Monday, March 8, 2010
The Final Mintage totals for the 2009 American Silver Eagle
The United States mint has just reported the final mintage totals for the 2009 American silver eagle. They produced 30,459,000 coins the highest number in the 24-year history of the program. This is 48% higher than the previous record high of 20,583,000 set in 2008. The lowest mintage was 3,603,386 in 1996.
Thursday, February 25, 2010
2010 American Veterans Disabled for Life Silver Dollar
The design features an image of the legs and boots of three veterans representing courage, loyalty and sacrifice
The new 2010 American Veterans Disabled for Life silver dollars check all of the boxes for a truly collectible coin. This is a coin worth going the extra mile for and buying the best certified Proof 70 coins. In our opinion this is the best commemorative silver dollar released since the Marine Corps 230th Anniversary silver dollar came out in 2005. This coin has a strong patriotic theme, a magnificent design and a large potential collector base from members of the U.S. Armed Forces and their families.
Members of the U.S. Armed Forces have answered the call to duty and served with distinction around the world—from hitting the beaches in World War II in the Pacific and Europe, to the cold and difficult terrain of Korea, the steamy jungles of Vietnam and the desert sands of the Middle East. Americans owe a tremendous debt to those who gave so much of themselves for our country. These include the millions of disabled veterans who continue to live with the wounds and scars of military service; those who have died after living with those wounds and scars; and those who gave their lives while defending our principles of democracy.
The American Veterans Disabled for Life Commemorative Coin Act authorizes the United States Mint to mint and issue commemorative silver dollar coins in proof and uncirculated versions to honor these heroes. A surcharge of $10 from the sale of each 2010 American Veterans Disabled for Life Silver Dollar is authorized to be paid to the Disabled Veterans' LIFE Memorial Foundation to support the construction of the American Veterans Disabled for Life Memorial in Washington , D.C. , authorized by Congress in 2000.
The design features an image of the legs and boots of three veterans representing courage, loyalty and sacrifice. The inscription in the banner along the upper rim, THEY STOOD UP FOR US, pays tribute to our courageous disabled veterans who have survived military service injuries for our freedom. Additional inscriptions are IN GOD WE TRUST, 2010 and LIBERTY .
The reverse design depicts a forget-me-not flower at the base of a wreath wrapped in a ribbon that cradles and supports cluster of oak branches. The oak branches represent strength, while the forget-me-not is a widely recognized icon that first served as a reminder of those who fought and became disabled in World War I. The significance of the small blue flowers is attributable to an image conveyed by World War I soldiers who had seen them growing on the graves of comrades and allies who had been killed. After the war, the flower became the accepted symbol for commemorating those who had fallen. The inscriptions are Take This Moment to Honor Our Disabled Defenders of Freedom, UNITED STATES OF AMERICA , E PLURIBUS UNUM and ONE DOLLAR.
Coin Specifications:Weight: 26.73 grams nominalDiameter: 1.500 inches or 38.10 mmComposition: 90% Silver; 10% CopperCondition: Proof 70 ANACS certified
Tuesday, January 19, 2010
Credit Suisse: There's A Huge Gold Oversupply, Time To Sell
Credit Suisse: There's A Huge Gold Oversupply, Time To Sell
Joe Weisenthal Jan. 18, 2010, 10:07 AM
A report from Credit Suisse (via ZeroHedge) argues against all this peak gold nonsense, and claims the price of the yellow metal will collapse amidst a downdraft in investor demand and a huge overupply.
Our analysis of the gold market
leads us to take a bearish stance with regard to the gold price in 2010. In 2009 we reasoned that the main drivers of the gold price were significantly linked to the trade weighted dollar, increased investment demand, central bank purchases and market sentiment. The increase in investment demand for gold ETFs, in our view, had an “accelerating and reinforcing effect” on market sentiment and the safe haven status of gold which resulted in upward pressure on the gold price which rose 24.6% during 2009. We do not expect the 2009 rate of investment in ETFs to continue at the same pace in 2010. Read more at businessinsider.com
Joe Weisenthal Jan. 18, 2010, 10:07 AM
A report from Credit Suisse (via ZeroHedge) argues against all this peak gold nonsense, and claims the price of the yellow metal will collapse amidst a downdraft in investor demand and a huge overupply.
Our analysis of the gold market
leads us to take a bearish stance with regard to the gold price in 2010. In 2009 we reasoned that the main drivers of the gold price were significantly linked to the trade weighted dollar, increased investment demand, central bank purchases and market sentiment. The increase in investment demand for gold ETFs, in our view, had an “accelerating and reinforcing effect” on market sentiment and the safe haven status of gold which resulted in upward pressure on the gold price which rose 24.6% during 2009. We do not expect the 2009 rate of investment in ETFs to continue at the same pace in 2010. Read more at businessinsider.com
Friday, November 20, 2009
SILVER IS UNDERVALUED COMPARED TO GOLD
Investors concerned about the economy and inflation have helped push the price of gold to a record high in 2009, but silver has been on a streak too. The price of silver is up 71% since January compared to a 32% gain in gold. While gold is now trading at an all time d high silver is nowhere near a record. The record high for silver was set in 1980, when Nelson and William Hunt unsuccessfully tried to corner the market. In inflation adjusted dollars that is $132 an ounce!
At $18.36 an ounce, silver is more affordable than gold. Sales of 1 oz American silver eagles have soared past 25 million coins already this year, breaking the old record of 20 million coins set in 2008. Demand is so heavy that the U.S. mint will be unable to make Proof versions of the American silver eagle for the first time since 1986. Dealers also report record high sales for silver bullion rounds and bars that often sell for lower premiums above the price of spot silver than silver coins.
Historically it takes about 16 ounces of silver to buy one ounce of gold. Now it takes 62 ounces of silver to buy one ounce of gold. Many experts expect the gold silver ratio to move toward its historical mean as silver outperforms gold in percentage terms in 2010 and beyond.
At $18.36 an ounce, silver is more affordable than gold. Sales of 1 oz American silver eagles have soared past 25 million coins already this year, breaking the old record of 20 million coins set in 2008. Demand is so heavy that the U.S. mint will be unable to make Proof versions of the American silver eagle for the first time since 1986. Dealers also report record high sales for silver bullion rounds and bars that often sell for lower premiums above the price of spot silver than silver coins.
Historically it takes about 16 ounces of silver to buy one ounce of gold. Now it takes 62 ounces of silver to buy one ounce of gold. Many experts expect the gold silver ratio to move toward its historical mean as silver outperforms gold in percentage terms in 2010 and beyond.
Thursday, November 12, 2009
GOLD BUYERS WHO DIVERSIFIED WITH SILVER SHOWED DOUBLE GAINS
On our blog posted Monday April 13, 2009 we asked how investors would do if they bought 1 oz and gold and diversified by also buying 72 oz of silver.
Gold was then $1,039 an ounce silver was $14.33 and the gold silver ratio was 72.1
The gold investment was 2,078 and is now worth $2,226.80 + 7%
The gold and silver investment was $2,070.76 and is now $2,379.88 + 15%
Investors who only buy gold and silver bullion might want to consider that they could have turbo charged these returns by further diversification into numismatic quality, certified collector coins. The 2008 $25 American Gold Buffalo Certified First Strike PR70 DCAM rose from $1,200 to $1,700 for a 41.7% gain according to the PCGS price guide. This is a 24kt gold coin weighing half an ounce that was certified perfect 70.
Gold was then $1,039 an ounce silver was $14.33 and the gold silver ratio was 72.1
The gold investment was 2,078 and is now worth $2,226.80 + 7%
The gold and silver investment was $2,070.76 and is now $2,379.88 + 15%
Investors who only buy gold and silver bullion might want to consider that they could have turbo charged these returns by further diversification into numismatic quality, certified collector coins. The 2008 $25 American Gold Buffalo Certified First Strike PR70 DCAM rose from $1,200 to $1,700 for a 41.7% gain according to the PCGS price guide. This is a 24kt gold coin weighing half an ounce that was certified perfect 70.
Tuesday, November 3, 2009
IMF sells India 200 tonnes of Gold
IMF sells India 200 tonnes of Gold for $6,7bn
Reuters
Published: 2009/11/03 01:08:49 PM
The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India for $6,7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold’s ascent.
The deal, which surprised traders who expected China to be the most likely buyer, will relieve the gold market of some uncertainty over how and when the IMF would sell 403,3 tonnes of gold, about one-eighth of its total stock. The deal will increase India’s gold holdings to the tenth largest among central banks.
It also fuelled speculation that other governments — including Beijing — may be ready to diversify their reserves even at near-record gold prices, helping soak up IMF supply that the fund may otherwise be forced to sell on the open market.
“Central banks in India and China will be happy to accumulate gold at these levels. I will not be surprised to see even some Southeast Asian banks buying gold,” Aaron Smith, Asia head of the $1,65 billion technical trading fund Superfund, told Reuters.
Spot gold prices earlier rose by nearly one%, but later reversed those gains to trade little changed at around $1058 an ounce on Tuesday, within striking distance of last month’s $1070,40 record despite a rallying dollar. Traders said the IMF news could add to the market’s upward momentum.
“Its potentially bullish from several points of view,” said Commerzbank analyst Eugen Weinberg. “Gold was kept off the market and sold directly to cental banks so potential sales on market are limited by this.”
“Secondly, it showed large buyers are ready to accept the current price levels. Thirdly, the central banks are increasing their gold reserves. Last but not least the central bank gold agreement sales of 400 tonnes ... is half empty already.”
The Reserve Bank of India said the purchase was an official sector off-market transaction and was executed during Oct. 19-30 at market-based prices.
An IMF official said the sale was concluded at an average price of about $1045 an ounce and that the transaction would be paid in hard currency and not in IMF Special Drawing Rights.
SURPRISE BUYER
Although the IMF’s plan to sell a share of its gold holdings in order to increase low-cost lending to poor countries had been flagged for a year before it was formally approved in September, the speed, scale and identity of the buyer were a surprise.
“It was always thought that some of it would be sold off market but it was a bit of a surprise that as much as 200 tonnes had been sold off market,” said Simon Weeks, director of precious metal sales at Bank of Nova Scotia.
Although India is the world’s biggest consumer of gold, primarily in the form of jewellery and investment among its billion-plus people, its central bank had given few signs of seeking to diversify its reserves pool into bullion.
The proportion of gold as part of its total foreign reserves has fallen from over 20% in 1994 to just under 4%.
India’s foreign exchange reserves held at the central bank totalled $285,5 billion on Oct. 23, of which gold comprised just over $10 billion. The latest purchase will lift its share of gold holdings from near 4% to about 6%, much less than most of the developed world but four times China’s share.
The RBI does not officially talk about its diversification strategy. On Tuesday, the RBI said the purchase of IMF’s gold was done as part of its foreign exchange reserve management.
But there may also be a geopolitical motive behind the deal: India, like China, is also seeking closer ties with the IMF to assert its authority on the global economic stage.
“This transaction is an important step toward achieving the objectives of the IMF’s limited gold sales program, which are to help put the fund’s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries,” the IMF’s managing director, Dominique Strauss-Kahn, said in a statement on Monday.
NO MARKET DISRUPTION
A senior IMF official, speaking on condition of anonymity, declined to say whether other central banks have expressed interest in buying the remaining gold for sale.
He said if no other central banks came forward, the IMF would proceed as planned to sell the gold in the market, but reiterated that the fund would publicize its intentions before doing so to avoid disrupting the market.
Still, the threat of further open-market sales remains a source of concern for gold traders, mindful of the five-year pact among European central banks to sell down a maximum 400 tonnes a year of their holdings, an agreement that was renewed in August and includes the IMF volume.
The market’s focus has now shifted to China, which has reportedly been in talks with the IMF about buying some of the fund’s bullion as Beijing seeks to shift some of its more than
$2 trillion in foreign exchange reserves away from the US
dollar.
“Now people may think China will buy the other half,” said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
Already the world’s top producer of gold and rivalling India as a consumer, China revealed this year that it had quietly lifted its own government holdings of gold stocks to 1054 tonnes from 600 tonnes when it last reported its holdings in 2003.
It is the first time since 2000 that the IMF has sold gold to a central bank. Between December 1999 and April 2000 in separate transactions, the IMF sold a total of 12,9 million ounces of gold to member countries Brazil and Mexico.
Reuters
Published: 2009/11/03 01:08:49 PM
The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India for $6,7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold’s ascent.
The deal, which surprised traders who expected China to be the most likely buyer, will relieve the gold market of some uncertainty over how and when the IMF would sell 403,3 tonnes of gold, about one-eighth of its total stock. The deal will increase India’s gold holdings to the tenth largest among central banks.
It also fuelled speculation that other governments — including Beijing — may be ready to diversify their reserves even at near-record gold prices, helping soak up IMF supply that the fund may otherwise be forced to sell on the open market.
“Central banks in India and China will be happy to accumulate gold at these levels. I will not be surprised to see even some Southeast Asian banks buying gold,” Aaron Smith, Asia head of the $1,65 billion technical trading fund Superfund, told Reuters.
Spot gold prices earlier rose by nearly one%, but later reversed those gains to trade little changed at around $1058 an ounce on Tuesday, within striking distance of last month’s $1070,40 record despite a rallying dollar. Traders said the IMF news could add to the market’s upward momentum.
“Its potentially bullish from several points of view,” said Commerzbank analyst Eugen Weinberg. “Gold was kept off the market and sold directly to cental banks so potential sales on market are limited by this.”
“Secondly, it showed large buyers are ready to accept the current price levels. Thirdly, the central banks are increasing their gold reserves. Last but not least the central bank gold agreement sales of 400 tonnes ... is half empty already.”
The Reserve Bank of India said the purchase was an official sector off-market transaction and was executed during Oct. 19-30 at market-based prices.
An IMF official said the sale was concluded at an average price of about $1045 an ounce and that the transaction would be paid in hard currency and not in IMF Special Drawing Rights.
SURPRISE BUYER
Although the IMF’s plan to sell a share of its gold holdings in order to increase low-cost lending to poor countries had been flagged for a year before it was formally approved in September, the speed, scale and identity of the buyer were a surprise.
“It was always thought that some of it would be sold off market but it was a bit of a surprise that as much as 200 tonnes had been sold off market,” said Simon Weeks, director of precious metal sales at Bank of Nova Scotia.
Although India is the world’s biggest consumer of gold, primarily in the form of jewellery and investment among its billion-plus people, its central bank had given few signs of seeking to diversify its reserves pool into bullion.
The proportion of gold as part of its total foreign reserves has fallen from over 20% in 1994 to just under 4%.
India’s foreign exchange reserves held at the central bank totalled $285,5 billion on Oct. 23, of which gold comprised just over $10 billion. The latest purchase will lift its share of gold holdings from near 4% to about 6%, much less than most of the developed world but four times China’s share.
The RBI does not officially talk about its diversification strategy. On Tuesday, the RBI said the purchase of IMF’s gold was done as part of its foreign exchange reserve management.
But there may also be a geopolitical motive behind the deal: India, like China, is also seeking closer ties with the IMF to assert its authority on the global economic stage.
“This transaction is an important step toward achieving the objectives of the IMF’s limited gold sales program, which are to help put the fund’s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries,” the IMF’s managing director, Dominique Strauss-Kahn, said in a statement on Monday.
NO MARKET DISRUPTION
A senior IMF official, speaking on condition of anonymity, declined to say whether other central banks have expressed interest in buying the remaining gold for sale.
He said if no other central banks came forward, the IMF would proceed as planned to sell the gold in the market, but reiterated that the fund would publicize its intentions before doing so to avoid disrupting the market.
Still, the threat of further open-market sales remains a source of concern for gold traders, mindful of the five-year pact among European central banks to sell down a maximum 400 tonnes a year of their holdings, an agreement that was renewed in August and includes the IMF volume.
The market’s focus has now shifted to China, which has reportedly been in talks with the IMF about buying some of the fund’s bullion as Beijing seeks to shift some of its more than
$2 trillion in foreign exchange reserves away from the US
dollar.
“Now people may think China will buy the other half,” said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
Already the world’s top producer of gold and rivalling India as a consumer, China revealed this year that it had quietly lifted its own government holdings of gold stocks to 1054 tonnes from 600 tonnes when it last reported its holdings in 2003.
It is the first time since 2000 that the IMF has sold gold to a central bank. Between December 1999 and April 2000 in separate transactions, the IMF sold a total of 12,9 million ounces of gold to member countries Brazil and Mexico.
Thursday, October 29, 2009
Certified American Buffalo Gold Coins – First Strike and Early Releases
Certified American Buffalo Gold Coins – First Strike and Early Releases
American gold Buffalo coins are mass produced by the United States mint on a commercial production line. These coins are struck for purchase primarily by gold bullion investors who seek a convenient low cost means of owning gold bullion for investment. The advantages of ownership include a net weight and purity guarantee by the United States Government. Not all coins are created equally and some coins have a better strike, luster and surfaces than others. Select coins with superior eye appeal and perfect or near perfect surfaces are very popular and very valuable in the collector market.
Often these select high quality coins command high premiums and are valued based on their condition, rarity and low certified population in addition to their gold content. The current and future value of any collectible coin is predicated on the size and depth of the collector base interested in ownership of the coins. American gold Buffalo coins certified in the premium grades M69 and MS70 have a large and affluent following. In addition to a large and established collector base more than 2,000 coin and bullion dealers are actively trading in these coins. Soon after a coin is released and before it is mishandled or mistreated is the best time to get a high grade certified coin. For this reason PCGS certified First Strike and NGC Early Release coins are popular with collectors. The term First Strike or Early Release refers to coins sent in to a coin grading service within the first 30-days of release. It does not mean they are better or a higher grade than other coins certified MS69 or MS70 but it does make them slightly more marketable. Prices for these coins vary from dealer to dealer we recommend you shop around.
The chart below is taken from information provided by PCGS and NGC and shows the official certified population of the 2008 American Gold Buffalo and the Official price guide. This is provided for informational purposes only.
Description Service Grade Population Price
2008 $50 Gold Buffalo NGC MS69 6,977 $1,290
2008 $50 Gold Buffalo PCGS MS69 6,831 $1,345
2008 $50 Gold Buffalo NGC MS70 7,468 $1,590
2008 $50 Gold Buffalo PCGS MS70 1,584 $1,700
October 29, 2009
American gold Buffalo coins are mass produced by the United States mint on a commercial production line. These coins are struck for purchase primarily by gold bullion investors who seek a convenient low cost means of owning gold bullion for investment. The advantages of ownership include a net weight and purity guarantee by the United States Government. Not all coins are created equally and some coins have a better strike, luster and surfaces than others. Select coins with superior eye appeal and perfect or near perfect surfaces are very popular and very valuable in the collector market.
Often these select high quality coins command high premiums and are valued based on their condition, rarity and low certified population in addition to their gold content. The current and future value of any collectible coin is predicated on the size and depth of the collector base interested in ownership of the coins. American gold Buffalo coins certified in the premium grades M69 and MS70 have a large and affluent following. In addition to a large and established collector base more than 2,000 coin and bullion dealers are actively trading in these coins. Soon after a coin is released and before it is mishandled or mistreated is the best time to get a high grade certified coin. For this reason PCGS certified First Strike and NGC Early Release coins are popular with collectors. The term First Strike or Early Release refers to coins sent in to a coin grading service within the first 30-days of release. It does not mean they are better or a higher grade than other coins certified MS69 or MS70 but it does make them slightly more marketable. Prices for these coins vary from dealer to dealer we recommend you shop around.
The chart below is taken from information provided by PCGS and NGC and shows the official certified population of the 2008 American Gold Buffalo and the Official price guide. This is provided for informational purposes only.
Description Service Grade Population Price
2008 $50 Gold Buffalo NGC MS69 6,977 $1,290
2008 $50 Gold Buffalo PCGS MS69 6,831 $1,345
2008 $50 Gold Buffalo NGC MS70 7,468 $1,590
2008 $50 Gold Buffalo PCGS MS70 1,584 $1,700
October 29, 2009
Tuesday, October 27, 2009
Silver containing wound dressing launched
ANTI-MICROBIALQUALITIES
Silver containing wound dressing launched into $15 billion global market
In yet another medical application for silver, Advanced Medical Solutions has launched a silver-containing wound dressing for the global woundcare market.Author: Lawrence WilliamsPosted: Tuesday , 27 Oct 2009
LONDON -
British specialist technology company, Advanced Medical Solutions (AMS), which supplies the $15 billion global woundcare market with advanced woundcare dressings and tissue adhesives for wound closure has announced a new silver-containing dressing. This has already been launched in the U.S. and is being introduced into the European and other international markets this month.
Systagenix Wound Management, the marketing and distribution partner for AMS's fibre-based silver alginate technology, has expanded its existing anti-microbial wound dressings offering with the introduction of AMS's SILVERCEL Non-Adherent Hydro-Alginate Dressing.
The company notes that silver is widely recognized as a safe and effective broad-spectrum anti-microbial agent for infection control.
In 2003, AMS developed a range of wound dressings whereby silver fibers were incorporated into its proprietary calcium alginate technology which allows a controlled and sustained release of silver into the wound without compromising the performance of the base alginate - a natural wound dressing derived from seaweed. The global silver alginate market is currently estimated at around $350 million and growing at 15% per annum.
The new wound dressing should also have application in the military market as well as for accident applications and demonstrates the growing usage for silver in medical applications as noted on Mineweb last month - see Perfect storm for silver brewing as antibiotics substitute--Silver Institute Such medical usage is one of the growing new markets for silver, and while it may take a long time to replace the losses from the switchover to digital from film in the photographic sector, it is becoming a significant market for the sector.
Silver containing wound dressing launched into $15 billion global market
In yet another medical application for silver, Advanced Medical Solutions has launched a silver-containing wound dressing for the global woundcare market.Author: Lawrence WilliamsPosted: Tuesday , 27 Oct 2009
LONDON -
British specialist technology company, Advanced Medical Solutions (AMS), which supplies the $15 billion global woundcare market with advanced woundcare dressings and tissue adhesives for wound closure has announced a new silver-containing dressing. This has already been launched in the U.S. and is being introduced into the European and other international markets this month.
Systagenix Wound Management, the marketing and distribution partner for AMS's fibre-based silver alginate technology, has expanded its existing anti-microbial wound dressings offering with the introduction of AMS's SILVERCEL Non-Adherent Hydro-Alginate Dressing.
The company notes that silver is widely recognized as a safe and effective broad-spectrum anti-microbial agent for infection control.
In 2003, AMS developed a range of wound dressings whereby silver fibers were incorporated into its proprietary calcium alginate technology which allows a controlled and sustained release of silver into the wound without compromising the performance of the base alginate - a natural wound dressing derived from seaweed. The global silver alginate market is currently estimated at around $350 million and growing at 15% per annum.
The new wound dressing should also have application in the military market as well as for accident applications and demonstrates the growing usage for silver in medical applications as noted on Mineweb last month - see Perfect storm for silver brewing as antibiotics substitute--Silver Institute Such medical usage is one of the growing new markets for silver, and while it may take a long time to replace the losses from the switchover to digital from film in the photographic sector, it is becoming a significant market for the sector.
Tuesday, October 20, 2009
Most Popular Silver Bullion
Most Popular Silver Bullion
Half – Ounce Buffalo Rounds, 2010 Maple Leafs and 5 oz Westminster Bars
sold more in 10 days than any other silver bullion products in the last month.
1. Half ounce Buffalo Rounds
2. 2010 Canadian Maple Leaf coin
3. 5 oz Westminster Mint Bar
4. 10 oz bar with Morgan design
5. 2009 Silver Eagle Monster Box
6. 2009 Silver Eagle 20-coin Rolls
7. 10 oz Heraeus bars
8. Silver Rounds Peace design
9. Silver Rounds silver Eagle design
10. silver rounds Morgan dollar design
Half – Ounce Buffalo Rounds, 2010 Maple Leafs and 5 oz Westminster Bars
sold more in 10 days than any other silver bullion products in the last month.
1. Half ounce Buffalo Rounds
2. 2010 Canadian Maple Leaf coin
3. 5 oz Westminster Mint Bar
4. 10 oz bar with Morgan design
5. 2009 Silver Eagle Monster Box
6. 2009 Silver Eagle 20-coin Rolls
7. 10 oz Heraeus bars
8. Silver Rounds Peace design
9. Silver Rounds silver Eagle design
10. silver rounds Morgan dollar design
Monday, October 12, 2009
What a great deal!
What a great deal!
I was in the offices of a major coin and bullion dealer to pick up some better date Morgan silver dollars from the GSA hoard, VAM coins and to negotiate on some PAMP platinum.
I casually mentioned that I had an interest in American silver eagles dated 2001- 2005. “Yes I have a few” said the dealer, who pressed a few buttons on his calculator and gave me his price. $2.25 over spot! Returning to my car it struck me that anyone can buy silver eagles through our website for up to $2.00 over spot and here I was a major player in the industry being quoted $2.25 over spot by a dealer who thought he was giving me a good deal.
I was in the offices of a major coin and bullion dealer to pick up some better date Morgan silver dollars from the GSA hoard, VAM coins and to negotiate on some PAMP platinum.
I casually mentioned that I had an interest in American silver eagles dated 2001- 2005. “Yes I have a few” said the dealer, who pressed a few buttons on his calculator and gave me his price. $2.25 over spot! Returning to my car it struck me that anyone can buy silver eagles through our website for up to $2.00 over spot and here I was a major player in the industry being quoted $2.25 over spot by a dealer who thought he was giving me a good deal.
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