Silver Bullion Coin Sales Rose To Record High In 2013

WASHINGTON, DC--(Market wired - Feb 18, 2014) - Strong investment demand for silver drove global sales of one-ounce silver bullion coins to an all-time record high in 2013, while early indications suggest that investors' interest in acquiring silver coins is healthy in the opening weeks of 2014.

The U.S. Mint sold 42,675,000 American Eagle Silver Bullion coins in 2013; 26 percent more than the 33,700,000 coins sold in 2012, hitting a new single-year record for the most purchased since the U.S. Mint began producing the one-ounce silver coin in 1986.

Interest in silver bullion coins was similarly robust in other areas of the world too. Sales of the Austrian Silver Philharmonic increased 62 percent in 2013. The Canadian Silver Maple Leaf saw a 60 percent increase, and sales of the Perth Mint's Silver Kookaburra Bullion coin rose by 41 percent last year.

And the buying continues. Already this year, over 6,500,000 American Eagle Silver Bullion coins have been sold. Precious metals investors favor obtaining newly dated coins and traditionally drive high initial demand early in the year. Michael DiRienzo, Executive Director of the Silver Institute, said, "Bullion dealers are reporting a strong appetite from investors in acquiring physical silver products including silver bars as well as silver coins."

Further evidence of investors' interest in holding silver can be seen in the substantial interest in silver-backed Exchange Traded Funds (ETF). Through February 14 of this year, 631 million ounces (Moz) of silver were held in major silver-backed ETF products, compared with 314 Moz at year end 2008, an impressive 100.9 percent increase for the period.

Silver has historically been the most affordable precious metal available to investors. "One could point to several reasons for silver's continuing appeal. It is a store of value, an indispensable component to industry, and cherished for its beauty by fashion-conscious consumers. This enduring versatility has helped sustain investor confidence in silver today as in years past," DiRienzo concluded.

http://www.digitaljournal.com/pr/1743764

Rocket-Engraved Coins Celebrate 50 Years of European Space Exploits

A new collectible set of gold and silver coins has been minted in France to celebrate the past half century of European cooperation in space.

The Monnaie de Paris, France's national mint, has issued the "50 Years of European Space Cooperation" collection in time for the 50th anniversary of the founding of the two organizations that led to today's European Space Agency (ESA).

Established in 1964, the European Launcher Development Organization (ELDO) and the European Space Research Organization (ESRO) merged more than a decade later to create the European Space Agency.

The commemorative euros are part of the French Ministry of Finance's "Europa" coin series, which since 2002 has paid tribute annually to different individuals or events that have factored into European cooperation and construction.

"Wishing this year to pay tribute to Europe's successes in space, the Monnaie de Paris naturally turned to ESA," the European Space Agency described in a statement posted to its website. "The two organizations have been working together since September 2013 on this project now seeing the light of day, which is certain to delight collectors and space enthusiasts alike."

The obverse of the coins features Arianespace's Ariane 5 rocket, which ESA regards as "the best-known and most popular symbol of this historic cooperation."

The launch vehicle on the coins is depicted before liftoff and in flight, with ellipses in the design's background used to represent the orbits of the many satellites deployed by the Ariane.

Among the booster's more high-profile payloads has been ESA's supply craft for the International Space Station, the Automated Transfer Vehicle; the Herschel orbiting space observatory; and the Rosetta comet-chasing probe. The Ariane 5 is also scheduled to launch the James Webb Space Telescope in 2018.

The gold and silver euros also feature ESA's logo at their top right. The inscription "50 Ans De Coopération Spatiale Européenne 1964-2014" appears on the circumference.

The coins' reverse side features the goddess Europa, her hair strewn with stars, and draped in 12 flags — some on their poles on the coin's left. The 12 euro symbols around the goddess' head are intended to symbolize the 12 stars of the European flag.

The Monnaie de Paris has minted the coins in a choice of four denominations, all with the same design. The 200, 50 and 5 euro coins are created with one ounce, one quarter ounce and one half of a gram of gold, respectively. The 10 euro coin is offered as a silver proof. The coins are limited edition, ranging from a mintage of 500 to 10,000.

The commemorative coins are priced between 1,635 and 57 euros (about $2,230 and $78 US) each.

The gold and silver coins celebrate "50 years of European space cooperation and the Ariane rocket, which remains one of Europe's greatest achievements," officials with the Monnaie de Paris wrote on the mint's website. "[ESA] has been coordinating space projects jointly pursued by 20 European countries for the last 50 years. It is one of the best examples of scientific and technological cooperation at a European level."

Click through to collectSPACE.com for more images and details on how to order the "50 Years of European Space Cooperation" coin collection.

http://www.space.com/24657-rocket-coins-european-space-history.html

Colorized 2014 Australian Koala Silver Coin

A new colorized 2014 Australian Koala Silver Coin adds to a popular series of silver coins from the Perth Mint of Australia.

                                            Australian Koala 2014 1oz Silver Colored Coin
 

Australia Koala 2014 1oz Silver Colored Coin
This issue continues the koala series which has annually changing reverses. The design is matched in earlier released bullion and numismatic strikes of the y However, these new silver coins feature the marsupial in color to enhance the detail.                     
 

Previous numismatic releases showcasing the same basic design include the gilded 2014 Koala Silver Coin and the one-tenth ounce 2014 Koala Silver Coin. These silver coins made their debuts in January.
 

Koala Silver Coin Design and Specifications

The image of the koala for the 2014 silver coins was designed by Michael Guilfoyle. It offers a head shot of the creature with a spray of gum leaves beneath.
 

Reverse inscriptions include ‘AUSTRALIAN KOALA’ and ’2014 1 oz 999 SILVER.’ The Perth Mint’s ‘P’ mintmark is also seen on the reverse to the left of the design.
 

Each coin is struck as legal tender of Australia under the Australian Currency Act of 1965 with a face value of $1, which is indicated on the obverse side with the inscription of ’1 DOLLAR.’ Additional obverse inscriptions include ELIZABETH II and AUSTRALIA, all surrounding the Ian Rank-Broadley effigy of Queen Elizabeth II.
 

Specifications of the 99.9% silver coin include a gross weight of 31.135 grams, a diameter of 40.60 mm and a thickness of 4.00 mm.

                                     Australian Koala 2014 1oz Silver Colored Coin in Card

Australian Koala 2014 1oz Silver Colored Coin in Card
Shipped coins are attached to an illustrated presentation card. This card allows both obverses and reverses to be seen and also includes the technical specifications of the strike.
 

Orders for the colorized 2014 Koala Silver Coin may be made at the Perth Mint of Australia website located at www.perthmint.com.au. Current pricing is listed at AUS $62.73, or US $56.05, but they may change with silver market conditions. No mintage limit applies.

http://www.silvercoinstoday.com/colorized-2014-australian-koala-silver-coin/109771/

2014 Proof Silver Coin Sales 1st Place

The latest United States Mint sales stats show the 2014-W Proof Silver Eagle Coin in first place among all of its collector products. Total sales advanced 20,540 to hit 327,918 by week’s end, with the silver coin on the market since Thursday, January 23.

2014 Proof American Eagle Silver Coin

2014 Proof Silver Eagle Coin sales ranked number #1 among all US Mint collector products

As a comparison, the 2014 America the Beautiful Quarters Silver Proof Set ranked second highest seller in just the silver category. It gained 6,135 during its first full week of sales to reach 52,769. 

This year’s quarters set launched only two days ahead of the Eagles.

If the 2014 Proof Silver Eagle coin becomes as popular as recent years’ issues, production and demand will take sales all the way up to the 800,000 range before the last one gets sold, just as it did for the 2010- through 2013-dated strikes.

Demand for new commemoratives eased a little more last week. Individual 2014-P Civil Rights Act of 1964 Proof Silver Dollars climbed by 5,047 after adding 6,580 previously. Also a little slower, the 2014-P Civil Rights Act of 1964 Uncirculated Silver Dollars picked up 2,501 orders to 16,182 after getting 2,685 in the prior round.

http://www.silvercoinstoday.com/2014-proof-silver-eagle-coin-sales-in-1st-place/109757/

Gold Retreats, Silver Rises: US Bullion Coins Advance

Gold turned lower Tuesday, giving back almost half of the prior-day’s gains after U.S. equities and the dollar rebounded.

Gold for April delivery declined $8.70, or 0.7%, to finish at $1,251.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged from a low of $1,246.80 to a high of $1,260.70.

"Gold prices ended the U.S. day session modestly lower Tuesday, pressured by a rebound in the U.S. stock market and a firmer U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Inc, said a daily note. "Still, the keener investor and trader anxiety in the world market place at present remains a bullish underlying factor for the safe-haven gold market."

Gold prices rallied $20.10, or 1.6%, in the prior session after disappointing manufacturing data pressured the greenback and equities.

Silver bucked the declines seen in other precious metals. Silver for March delivery edged up a penny, or less than 0.1%, to settle at $19.42 an ounce. It ranged from $19.26 to $19.48. Silver prices jumped 29 cents, or 1.5%, in the previous session.
 

In PGM futures on Tuesday:

April platinum lost $13.20, or 1%, to $1,373.40 an ounce, trading between $1,361.40 and $1,387.20.

Palladium for March delivery shed $2.60, or 0.4%, to $700.10 an ounce, ranging from $695.50 to $704.55.
London Fix Precious Metals

Earlier fixed London precious metals moved in the same direction as New York bullion futures. In contrasting the London fix prices from Monday PM to Tuesday PM:

Gold fell $11.75, or 0.9%, to $1,250.25 an ounce,
Silver added 7 cents, or 0.4%, to $19.34 an ounce,
Platinum lost $12, or 0.9%, to $1,374 an ounce, and
Palladium declined $8, or 1.1%, to $702 an ounce
US Mint Bullion Coin Sales in February

U.S. Mint sales registered another broad day of gains with five of six bullion products advancing. On the day, Gold Eagles added 2,000 ounces, Gold Buffalo coins climbed 2,000 and Silver Eagles rose 234,500.

http://www.coinnews.net/2014/02/04/gold-retreats-silver-rises-us-bullion-coins-advance/

Insider Tips For Buying & Selling Coins

Whether you are buying or selling coins, you can increase your advantage when dealing with coin dealers by understanding how things work behind the scenes. One of the biggest problems I see, as an observer of the coin collecting marketplace, is the wide gulf between what the average consumer expects from a coin dealer, and what the average coin dealer believes he should provide to the consumer. The majority of these differences boil down to trust. The average consumer thinks he can trust the coin dealer to give him an honest appraisal and pay a fair price for the coins he is selling. The average dealer feels it is right to pay the lowest price he can for the coins, to maximize his profit, and that it is up to the consumer to do his homework. Fortunately, by finding this article, you will be on a much better footing when dealing with coin dealers.

The Coin Dealing Business - A Brief Overview
There are two major categories of coin dealers - the wholesaler and the retailer. The wholesaler aggressively seeks to bring new material into the marketplace, and often attends coin shows, local auctions, and runs advertising offering to buy coins. Most of this material is then sold in bulk lots to retail-based dealers.

The retail coin dealer gets most of his stock from the wholesalers. Although he, too, may attend coin shows and buy locally, most of his business income is from servicing a clientele of single-coin buyers. A dealer of this type is more likely to pay you higher prices for your coins, since they don't have to pass through two sets of hands before being sold, but local dealers are also often the worst of the cheats! This is because the larger dealers are more likely to belong to organizations that require them to subscribe to a Code of Ethics, such as the American Numismatic Association or the Professional Numismatists Guild. The number one consideration that anybody who buys or sells coins must consider is recourse. What kind of recourse do you have if things go bad?

Wholesale Coin Prices
One of the best ways to arm yourself against the savvy coin dealer is knowing the wholesale prices he pays for his coins. A very widely-used standard in U.S. coins is the "Grey Sheet," sometimes referred to as the "CDN." This is the Coin Dealer Newsletter, which is printed on grey paper stock, and comes out weekly. Most serious coin dealers subscribe to this publication, which lists the "bid" and "ask" values for every major type of U.S. coin, plus mint sets, slabbed coins, and banknotes (called the "green sheet.") "Bid" prices are the prices that dealers are paying if another dealer brings the coins to them. "Ask" prices are the prices for coins a dealers asks to buy. For example, if I call and ask to buy 100 common date Silver Eagles, I'll be quoted the "ask," or selling price. But if I want to sell the 100 Silver Eagles, I'll be quoted the "bid" or buying price. The difference between the two prices is the profit margin. It is quite thin for most coins.

An important concept to remember when discussing Grey Sheet prices is that we are talking about the wholesale market. Two things characterize this market: (1) Deals are usually done in bulk numbers, so the prices don't refer to single coins, in general, and (2) Deals are minimal service transactions. You can't go up to a coin dealer who has to appraise and grade your collection for you, and expect him to pay Grey Sheet "bid" prices. However, the Grey Sheet should give you a good idea of what your coins are worth in a general sense, so you don't sell a $1,000 coin for $200.

Coin Dealer Profit Margins
As a general rule, the more common a coin is, and the lower grade the coin is, the higher the profit margin (expressed as a percentage of the selling price) for the dealer must be. The reason for this is that low-grade, common coins are harder to sell. Another reason for this difference is dollar value. If a dealer buys a common date, heavily circulated 1940 Wheat Cent from you, he might pay you 2 cents for the coin and sell it for 5 cents, making a greater than 100% profit (but still only 3 cents!) But if he buys a key date, heavily circulated coin, such as a 1931-S Wheat Cent in Good (G-4 grade), he might be able to pay you $50 for it, even though he will make only a 20% profit when he sells it for $60. The difference here is that the 1931-S is likely to sell much faster than the 1940 Cent, plus the dollar value involved in measurable.

Another general rule of wholesale coin pricing is that the more valuable the coin is, the smaller the profit margin needs to be, percentage-wise. If a coin will sell for $15,000, a dealer can make a nice profit if he buys the coin for $14,000, but he might have this coin in is inventory (and his investment in it tied up) for a long time before someone who can afford $15,000 a pop for coins comes along.

All told, the profit margins for coins are primarily determined by these three factors:

A. How quickly the coin can be resold (market demand)

B. How high the dollar value is (capital outlay)

C. The condition of the coin market overall (market dynamics)

Coin dealers must strike a balance between these factors to remain profitable.
Coin Dealers and Common Junk
One of the reasons there is such a disparity between what the average consumer expects, and what the coin dealer actually delivers when it comes to buying coins from the public is that coin dealers see vast amounts of common "junk." By "junk" I mean common date wheat pennies, circulated Buffalo Nickels and Mercury Dimes, worn Washington Quarters and circulated Franklin and Kennedy Halves. Coin dealers are offered so much of this type of material that many of them get tired of seeing it. They give such material the cursory once-over and offer low-ball prices for it based on long experience. Usually people have already pulled out the more valuable coins, leaving the "junk," (or at least the the dealer must assume so.)

The customer, however, feels that his coins haven't been given a fair appraisal. What if the dealer overlooked something rare? Shouldn't he look each coin up to be certain? People who sell their coins to coin dealers often feel they have been given short shrift. The dealer might stir his finger around a box or jar of coins for a minute or two (if that long) and then make an offer that seems too low. Even worse are the cases where the dealer opens up the blue Whitman folders, takes a quick glance, and then offers $9 for the whole collection. How can he know what the coins are worth if he doesn't even look at each one first? Is he trying to rip me off?
The Realities of Selling Coins
As explained on the previous page of this article, coin dealers see a vast amount of what they commonly call "junk." Although these coins do have a (minimal) value, they are so often seen for sale, but so hard to sell, that dealers are reluctant to buy them, and when they do, they can't afford to pay much money for them. When someone brings in a large can of Wheat Cents, for example, most dealers will run their fingers through them to assess the range of dates and average quality of the coins. If they appear to be run-of-the-mill common date, circulated Wheaties, the dealer will usually offer a flat rate for the lot, either a price for the load based on his estimate of the weight or coin count, or he might run them through a coin counter (or weigh them) and pay a per piece price. Whatever he does, he assuming two things:

(1) That any valuable dates have been removed from the lot already, and;

(2) Even if the coins haven't been searched, the valuable dates are so rare anyway that in all likelihood, none of them will turn up in this lot.

Therefore, he pays a "worst case scenario" price for the coins. The same is true for most of the coins minted in the twentieth century, whether they are Buffalo Nickels, Mercury Dimes, Washington Quarters, etc. A quick assessment of grade and dates is done, and a bulk price is offered, frequently based on the bullion value of silver for coins made of this metal. If the dealer should happen to find a rare coin in the batch, that's great, but most of the time he doesn't, and such coins are not worth the time it takes to check each one.

If you want to maximize the price you are paid for such coins, you'll need to sort them yourself into batches, and be sure to remove any coin worth ten times face value or more according to the Red Book. The way coins are sorted for maximizing the price varies from type to type, but for Wheat Cents sorting them by decade will help somewhat. For example, at the time of this writing, Cents in the 'teens go for 15 to 18 cents each on up (depending on average grade.) Cents in the 1920's go for 10 to 12 plus; Cents in the 1930's go for 6 to 8 on up; but circulated Cents in the 1940's and 1950's usually go for 2 cents each. Mixed, unsorted Wheaties go for 2 cents each, or maybe a little more if the dealer sees they are heavy in early dates. By sorting them into decades, you've improved your profit margin. Further sorting, into individual years can also help if you have enough to make full rolls. 

http://coins.about.com/od/coinbuyingadvice/a/coin_secrets.htm

Should Modern Coins Be Graded?

I recently met a new coin collector and spent a little time giving him some advice about how to get the most out of his new hobby. He and wife had decided to put some money into silver bullion and some modern coins like American silver eagles and silver Lunar horse issues. He already knew about professional coin grading and certified coin data and decided to join a grading service so he could submit coins for grading.

It soon became clear to me that the importance of owning graded coins, especially those that receive 70 grades, was a major consideration for this new numismatist. There is of course nothing wrong with that, and such views have helped to increase the role of grading in modern coin collecting by leaps and bounds in recent years. But it seemed to me that someone this new to the hobby should be focusing more on the coins themselves and not as much on grading.

Grading of modern coins has certainly been a huge revenue maker for the coin grading services. But we are now at the point where some collectors seem obsessed with having their coins in specific types of matched labels, and others compete feverishly for registry sets of the highest-graded modern coins. I think it’s time to step back and ask how all this emphasis on grading of modern coins is affecting the fastest-growing segment of numismatics, which is modern coins.

As I have argued before, if you purchase high-quality modern coins and think they have a decent chance of getting the top grade, it is often worth submitting them as the payoff can be substantial. It helps to know an experienced dealer, who may be able to offer their opinion on whether the coins are worth sending in for grading.

At the same time, it is easy to get burned doing that, as anyone who has tried it has discovered. For dealers it is very cost effective, as they submit enough volume that inevitably a certain percentage of their coins come back with top grades, and they also pay bulk rates, as do other high-volume submitters.

Plus, the market for 70-graded coins is particularly volatile, and as shifts in the supply of coins in that grade ebb and flow, and as more coins are submitted over time and more top grade coins are added to certified coin populations, values keep changing. This can frequently mean lower and lower prices for 70-graded coins over time.

Because of these factors it is easy to end up overpaying for top-graded modern coins. A particular coin may have a high perceived rarity at a certain moment in time, only to tumble in value when the coin turns out not to be so rare down the road.

A good example of this phenomenon is current prices for PCGS MS69 DMPL examples of the 2013 Fort McHenry 5 ounce America the Beautiful bullion coin. It is true that at the moment this coin has the lowest population of PCGS graded 2013 ATB coins, but that is likely to change as more coins are graded. The quality of these coins has improved in the last couple years, which further increases the likelihood of more high grade examples surfacing later. In recent weeks buyers on e-Bay have paid as much as $1800 for this coin, yet ungraded examples cost $130 or less, and SP70 examples of the recently sold-out numismatic version are only going for about $200 on e-Bay. To me it is risky to put that much into a coin that will probably not hold its value. Moreover, I consider this to be emblematic of the downside of grading modern coins, which can create an artificial rarity out of a common coin, in this case what I would call a temporary condition rarity.

Another factor to keep in mind is that grading standards evolve over time. When the first year’s ATB 5 ounce coins were issued, I had some graded and received MS69 DMPL for a coin that has a rather noticeable scratch on the surface. Coins graded more recently are unlikely to have those kind of imperfections, but when the 2010 coins came out there was nothing to compare them to.

This discussion has been focused so far on American coins, but there is also the growing trend of having modern coins graded. As the modern world coin market continues to expand, so does the market for 70-graded coins.

But unless you are buying a coin raw and submitting it because you feel strongly that it will be graded 70 and because you have studied retail values and seen it is worth the expense, I am not sure it is advisable to grade modern world coins, or buy them graded unless they are a good deal. In fact, like many buyers I tend to prefer owning modern coins in their original packaging, which is frequently a better way to display the coins, especially when it comes in an attractive box.

As a result of the factors and trends discussed above, my own view on the merits of grading modern coins is changing. I am by no means categorically against it, but I have reached the point where I am more selective than I used to be about submitting modern coins for grading as well as purchasing already-graded modern coins.

To be sure, high-grade graded examples of coins with a lackluster performance in raw form, such as the 2012 and 2013 special American silver eagle two-coin sets, are much more desirable than raw sets. This year’s sets seem like a very good buy to me at current retail prices for 70-graded West Point sets, especially given the recent announcement of a lower mintage than originally indicated for these coins. Prices are low on the retail market because there are plenty of graded sets today, but I doubt those sets will remain so cheap forever.

But at the same time, there are coins I had graded that I regretted submitting because they looked like 70’s to me and came back as 69’s. When trying to sell modern U.S. coins, you are better off with a raw coin in OGP than a 69. I would therefore recommend being very judicious about which coins you submit.

The grading of modern coins has without question done a lot to expand the market for such coins and has it merits, but ultimately it is the coins, not the slabs or labels, that should be of prime importance to collectors and buyers.

https://www.coinweek.com/featured-news/coin-analyst-modern-coins-graded/