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Burnished Gold and Silver Eagles - US Mint Keeps Collectors Guessing
By Michael Zielinski
In 2006 the US Mint started offering collectible versions of the popular Gold and American Eagle silver dollars. These collectible versions have two main distinctions from the standard bullion versions of the coins. First, they are struck on specially burnished blanks. Second, they carry the 'W' mint mark to designate mintage at the West Point Mint. These burnished versions seem to present a good opportunity for collectors since they usually end up with mintages significantly lower than for the regular bullion version. This year's sales have followed a less than typical path that have kept collectors guessing about the series.
Burnished Gold Eagle Sales
Sales of the Burnished Gold Eagle coins have been impacted by the rising price of gold. Since the Mint sells the coins at fixed prices, if the price of gold rises too much, sales are suspended until they can reset prices to more appropriate levels. Sales have been suspended twice this year- first in October and most recently on November 5th. As of today, Burnished Gold Eagle sales are still suspended at the Mint.
The Mint website lists the following message for the Burnished Gold Eagle:
Due to the increasing market value of gold, the American Eagle Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time.
Will the 2007-W Burnished Gold Eagles ever go back on sale? If not, the coins will end up with some incredibly low mintages, which may drive higher prices in the secondary market. The suspensions have reduced the amount of time the coins have actually been on sale and the most recent suspension has dragged on much longer than expected.
Burnished Silver Eagle Sales
Sales of Burnished Silver Eagle coins have been impacted by packaging issues and an unexpected product offering. The coins had been selling briskly throughout the year, and then on November 22, they appeared to be sold out at the Mint. Many collectors thought that this would be the last time the coins would be available directly from the Mint at the standard issue price.
On December 3, the Mint released a batch of new Presidential Dollar products. One of the products was the 2007 Uncirculated Dollar Coin Set, which includes the 2007-W Burnished Silver Eagle. This unexpected product meant that collectors could still obtain the Burnished Silver Eagle from the Mint by purchasing this set.
On December 21, the Mint put the individual option of the Burnished Silver Eagle back on sale. According to a widely read coin publication, the brief halt of sales was due to a packaging issue. The issue had been resolved and the coins went back on sale.
This constant guessing game with the Burnished Silver Eagles has frustrated many collectors. With sales in two different options continuing to drive mintages and distribution, this year's coin probably will not experience the significant secondary market price increase seen for last year's coin.
While the guessing game with the Mint has potentially created opportunities via the Burnished Gold Eagles, it has also created a roller coaster ride for the Burnished Silver Eagles. When the sales are officially closed out for these offerings, it will be interesting to see where mintages and secondary market prices end up.
About The Author
Michael Zielinski is an internet entrepreneur and coin collector. For further information on Gold Eagle coins visit Certified Gold Eagles. For up to date news on new offerings from the US Mint, visit Mint News Blog.
Paper Money & Coin Collecting Info
1840 $1,000 Bank of the United States notes: Any note with the serial number 8894 is a replica that was made in the 1960's for a promotional giveaway in cereal boxes. These replicas are essentially worthless. These replicas are made from yellowish-brown "antiqued" paper that is crisp and brittle to the touch. The genuine $1,000 Bank of the United States notes are printed on thin banknote paper that was originally white or cream colored. One supposes that if a genuine note with the serial number 8894 ever were to show up that it is likely to cause quite a stir among dealers and collectors who have grown weary of answering questions regarding this particular replica.
Buy silver dollars for a great investment.
In 2007 the Canadian Mint produced a 100 kg gold coin with a face value of $1,000,000, though the gold content was worth over $2 million at the time. It measures 50 cm in diameter and is 3 cm thick. It was intended as a one-off to promote a new line of Canadian Gold Maple Leaf coins, but after several interested buyers came forward the mint announced it would manufacture them as ordered and sell them for between $2.5 million and $3 million. As of May 3 2007 there were five confirmed orders. Austria had previously produced a 37 cm diameter 31 kg gold coin with a face value of �100,000 ($153,000).
You can buy 1898 gold coins 5 grams in our store.
In 1955 U.S. Congress expanded the earlier law that stated that the motto "In God We Trust" could be placed on all U.S. coinage to one that required the motto to be placed on all coins and paper money. However, "In God We Trust" did not actually appear on U.S. paper money until after 1957. Since paper money is not dated yearly, but by series numbers that are based on changes in style and design, Series 1935G and 1935H Silver Certificates bear the motto because they were produced after 1957.
Buy mixed lots of silver dollars for a great investment.
More us gold and silver coins Information
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Mint designs released for 2009 Presidential Dollars
Thu, 30 Oct 2008 16:12:00 +0000
The United States Mint on Wednesday unveiled new designs for the 2009 Presidential $1 Coins featuring former Presidents William Henry Harrison, John Tyler, James K. Polk and Zachary Taylor.
In 2009, more than new Presidential portraits will grace the face of each dollar coin. Design enhancements include modified edge lettering and the moving of "In God We Trust" to directly below each Presidential image.
The relocation of the motto from the edge to the heads side of each $1 coin was sought after by many who felt "In God We Trust" was too hidden. Political support resulted in a mandated update from Congress. A new law was passed in late 2007 that empowered the U.S. Mint to place the motto in a more prominent position.
The edge modifications include . . .
Full story at: Link
Roman Age coins hoard declared a 'treasure trove'
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One of the largest deposits of Roman coins ever found in Wales, UK, which consists of nearly 6,000 copper alloy coins, has been declared a treasure trove.
According to a report by BBC, the Roman coins hoard was found buried in two pots in a field at Sully, Vale of Glamorgan, by a local metal detector enthusiast in April.
Two separate hoards were found by the metal detectorist on successive days, one involving 2,366 coins and the other 3,547 coins, 3m away.
The 1,700-year-old coins dated from the reigns of numerous emperors, notably Constantine I (the Great, AD 307-37), during whose time Christianity was first recognised as a state religion.
Derek Eveleigh, from Penarth, who came across the hoards in a field of sheep, has kept his find a secret until the outcome of an inquest into the findings.
An independent committee will now value the coins.
Edward Besly, the National Museum Wales' coin specialist, has called the discovery . . .
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