Silver Ends Week Below $22.00/toz

Silver's spot price is below $22.00/toz, but according to Coin News, it is up a bit.

They wrote:

Elsewhere, silver for December delivery jumped by 70.4 cents, or 3.4%, to finish at $21.723 an ounce. Silver prices registered a 3.2% weekly decline after having sunk 5.9% last week. The last time they gained in a week was by 2% in the one ending Sept. 22. On Thursday, silver closed at its lowest point since March 16. Year to date, they have fallen by 9.6%.

According to COMEX, here's where silver stands today:

 

As you can see, silver even went below $21.00/toz at one point.

To read more, go here.

Royal Mint Introduces First 2024 Britannia Bullion Coins

Above, the 2023 1oz Silver Britannia coins. Photo by Armand Vaquer.

The Royal Mint is already getting ready for 2024. They have introduced their first 2024 Britannia Bullion coins.

According to Coin News:

The Royal Mint has introduced the complete gold versions and the 1oz silver edition of their 2024 Britannia bullion coins.

Obverses of the coins showcase the official coinage portrait of King Charles III by Martin Jennings.

Created by Philip Nathan, the reverses of these bullion coins feature a rendition of Britannia, which has appeared on the Britannia bullion series since their debut in 1987. Britannia is portrayed with symbols that represent the values of the nation: a shield symbolizing protection, an olive branch symbolizing peace, and a trident symbolizing her maritime connections.  

Britannia 2024 bullion coins are available to order from The Royal Mint’s website.  

The 1kg, quarter-ounce, and tenth-ounce silver versions, along with the one-ounce platinum edition, are scheduled for release in late 2023. The tenth-ounce platinum coin will be available in early 2024.

To read more, go here. 

Gold, Silver At Their Lowest Since March

Above, 2023 American Silver Eagle Proof. Photo by Armand Vaquer.

Gold and silver sank in their respective spot prices to start off the month. Each hasn't been this low since March.

According to Coin News:

Precious metals started the new trading week and month on Monday with losses ranging from 1% for gold to 4.6% for silver. Both metals established significant settlement lows, reaching back to March for both.

Falling for the sixth consecutive session, gold for December delivery lost $18.90 to settle at $1,847.20 an ounce on the Comex division of the New York Mercantile Exchange. For a second straight instance, the settlement was the lowest since ending at $1,834.60 an ounce on March 9.

"Gold’s kryptonite is surging Treasury yields and a stronger dollar," Edward Moya, senior market analyst at OANDA, told MarketWatch.

"Wall Street is having a major reset on where flows are going and that is clearly not gold’s way," he said. "Fixed income is all of sudden attractive and that killed the short-term outlook for gold."

Gold futures traded between $1,842.70 and $1,864.70. They lost 4.1% last week.

Elsewhere, silver for December delivery tumbled by $1.03 to $21.41 an ounce, marking its weakest settlement since closing at $20.506 an ounce on March 16. Silver futures ranged from $21.21 to $22.41. Last week, they sank 5.9%.

Since I consider silver investing is for the long haul, this doesn't bother me. I see it as an opportunity to buy more for less.

To read more, go here.

Precious Metals Gain, Except Gold

Silver's spot price at COMEX has surged back over $23.00/toz while gold has lost ground.

According to Coin News:

Precious metals declined as a group for three consecutive days until Thursday, when silver, platinum, and palladium broke the mold with gains. Meanwhile, gold dropped for the fourth day in a row, ending at another six-and-a-half-month low.

To read more, go here. 

Precious Metals Declined

Precious metals aren't doing so well this week. But this is temporary, because what goes down, must come up. The current COMEX spot price for silver is shown above. 

According to Coin News:

On Tuesday, for a second consecutive day, precious metals declined together, with losses ranging from 0.5% for palladium to 1.1% for platinum. Gold ended the day at a more than five-week low.

"Gold and silver prices are down and near daily lows in midday U.S. trading Tuesday. U.S. Treasury yields are on the rise and near multi-year highs, while the U.S. dollar index today scored a 6.5-month high. Both are bearish outside market forces constricting the precious metals bulls," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

In regards to silver, Coin News reported:

Meanwhile, silver for December delivery settled down 18.9 cents, or 0.8%, to $23.196 an ounce. The close was the weakest since Sept. 14. Silver futures ranged from $23.10 and $23.39. They dropped by 1.9% on Monday.

To read more, go here.

Precious Metals Rebound Except Gold

It appears that precious metals are rebounding, with the exception of gold.

From Coin News:

For the first time this week, precious metals did not decline collectively. Silver, platinum, and palladium all experienced gains, with the latter two rebounding from significant settlement lows. However, gold continued its downward trajectory for the ninth consecutive time, further contributing to its twelfth loss in thirteen sessions, and marking its weakest price in five months.

Snapping a four-session losing streak, silver for September tacked on 18 cents, equivalent to 0.8%, and ended at $22.715 an ounce. Throughout the day, silver futures fluctuated between $22.39 and $23.07, following losses of 0.5% on Wednesday, and 0.2% on both Monday and Tuesday. On Wednesday, silver marked its lowest close since June 23.

To read more, go here. 

Silver Ends Three-Week Winning Streak

Above, silver Franklin half dollars. Photo by Armand Vaquer.

Silver dipped below $25.00/toz to end the week. It wasn't that much of a dip. It can make it back over $25.00 next week. 

According to Coin News:

Also falling for a second session, silver for September lost 10.7 cents, or 0.4%, and closed at $24.855 an ounce. Silver prices declined by 1.4% this week following three consecutive weekly gains of 8.2%, 1.2% and 3%. On Wednesday, silver at $25.387 an ounce registered its highest settlement since May 10. Year to date, the precious metal has increased by 3.4%.

It will be interesting to see where silver goes next week.

To read more, go here. 

Precious Metals Log Multi-Week Settlement Highs

Precious metals are rising to highs not seen since May. Silver seems to be settling into the $25.00/toz range. Could it rise to over $26.00/toz?

According to Coin News:

Precious metals climbed in tandem on Tuesday, reaching settlement highs that ranged from earlier May for silver to the third week of June for palladium.

Gaining for the fifth time in six sessions, gold for August delivery tacked on $24.40, or 1.3%, to settle at $1,980.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement marks gold’s highest since June 6.

"The charts have recently turned more bullish for both precious metals [gold and silver], which is inviting the technically based speculators to the long side of those markets. A weaker-than-expected U.S. retail sales report this morning is also supporting ideas the Federal Reserve can take its foot of the gas sooner, regarding its interest-rate-increase cycle," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

On the day, gold futures traded between $1,958.10 and $1,988.30, after falling by 0.4% on Monday.

Advancing for fourth time in five sessions, silver for September rose by 23.8 cents, or 1%, to finish at $25.256 an ounce — the best settlement since May 10. Silver futures ranged from $24.97 and $25.41, after shedding 0.7% on Monday. 

To read more, go here. 

Coins and Precious Metals Storage

One question many new collectors or investors of coins and precious metals wonder about is where to store them.

It really boils down to each individual's choice. Some prefer to keep their investments close at hand at home or off-site somewhere (such as a bank).

Coin News has posted and article with smart storage tips for coins and precious metals.

They begin with:

During the "Gold Rush of 2023," dealers report that demand for gold bullion coins has soared from both previous investors and many new buyers. Now the important question is: how should you safely protect and store your precious metal purchases?

The Professional Numismatists Guild (www.PNGdealers.org), a nonprofit organization composed of many of the country’s top rare coin and precious metals dealers, advises that the three most popular methods of storage each have advantages and disadvantages.

To read more, go here. 

2023-W Uncirculated Silver Eagle Debuts

Above, a 2023-W American Silver Eagle I bought months ago. Photo by Armand Vaquer.

The U.S. Mint has started selling the 2023-W Uncirculated American Silver Eagle coins.

According to Coin News:

Last week, on May 25, the United States Mint started selling the 2023-W Uncirculated American Silver Eagle for $76.

U.S. Mint sales figures show collectors purchased a total of 117,035 coins in the first four days, making it the Mint’s best weekly seller. As a comparison, last year’s edition opened with five-day starting sales of 143,738 coins.

As a side note, the Mint also reported opening sales of 803 units, or 32,120 coins, of the 40-coin bulk option for dealers last year, bringing the 2022-dated Silver Eagle’s starting total to 175,858. However, this year, the Mint did not publish any bulk sales data for the 2023-W Uncirculated Silver Eagle.

Unfortunately, with the spot price of silver at $23.38/toz (at this writing), $76.00 for an uncirculated coin is a bit pricey. That's a big mark-up! I paid $80.00 for the proof version set at the National Money Show.

What's the difference between these coins and the brilliant uncirculated 2023-W American Silver Eagle coins JM Bullion has been selling for weeks starting at $41.41? (These are the ones I have.) 

Here's the answer: https://libertycoin.com/american-silver-eagle-differences/

To read more, go here.

U.S. Mint Reports Mixed Bullion Sales For April

Above, 2023 American Silver Eagle proof set. Photo by Armand Vaquer.

When I bought my American Silver Eagle proof set at the National Money Show in Phoenix in March from the U.S. Mint booth, it had only been days after the coins were released. The set was signed by Mint Director Ventris C. Gibson.

Since then, sales of the gold and silver American Eagles has been brisk, although the silver version lags from the previous year's sales during the same period.

Coin News reported:

Sales of American Eagle and Buffalo gold bullion coins from the U.S. Mint decreased in April after a strong performance in March, but their year-to-date totals have significantly exceeded those from the first four months of last year.

Meanwhile, sales of the U.S. Mint’s silver bullion coins remained steady for a third consecutive month in April and continued to lag behind their performance during the same period last year.

In April, sales of American Eagle gold bullion coins totaled 170,000 ounces, a 20.9% decrease from March’s highest monthly sales since January 2021 of 215,000 ounces. Nonetheless, it still reflects a 93.2% increase compared to April 2022’s sales of 88,000 ounces. Year-to-date sales of 605,500 ounces show a 17.7% increase from the 514,500 ounces sold during the same period last year.

For the third consecutive month, American Eagle silver bullion sales increased by 900,000 ounces, marking a 5.9% rise from April 2022’s 850,000 ounces. Nevertheless, sales have declined by 21.1% to 6,649,000 ounces year-to-date, compared to the 8,431,500 ounces sold during the same period last year.

To read more, go here. 

Precious Metals Declined Tuesday

Gold dipped below $2,000 and silver fell below $24.00 on Tuesday.

Coin News reported:

Precious metals declined on Tuesday, giving back more than their gains from Monday. Additionally, gold and silver reached 2- and 7-week lows, respectively.

Gold for June delivery declined by $29.70, or 1.5%, to settle at $1,993 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since May 1.

"Weaker economic data coming out of China has prompted increased concerns about consumer and commercial demand for precious metals. Meantime, bearish outside market forces on this day are working against the metals markets — firmer U.S. dollar index, weaker crude oil and rising U.S. Treasury yields," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,989.10 and $2,022.70, after edging up by 0.1% on Monday.

Meanwhile, silver for July delivery sank 39.8 cents, or 1.6%, closing at $23.893 an ounce, marking its lowest settlement since March 29. Silver futures traded between $23.80 and $24.28 after increasing by 0.6% on Monday.

To read more, go here. 

2023 Kennedy Half Dollars Released

Above, 1964 Kennedy half dollars with 90% silver. Photo by Armand Vaquer.

Up until this morning, I wasn't aware that the Kennedy half dollar coins hadn't been minted for circulation since 2002 until two years ago. The only Kennedy half dollars that were minted after 2002 were for collectors ("numismatic purposes") until 2021.

This year, the US Mint is minting circulation Kennedy half dollars.

Coin News reported yesterday:

Today, the United States Mint releases rolls and bags of circulating 2023 John F. Kennedy Half Dollars. These coins pay tribute to the 35th President of the United States, featuring a portrait of the former President on one side and a rendition of the Presidential Seal on the other.

Made for collectors, there are two products available. The first one is a two-roll set, which includes one roll of 20 coins from the Denver Mint and one roll of 20 coins from the Philadelphia Mint. This set is priced at $34.50. The second product is a 200-coin bag, which contains 100 coins from the Denver Mint and 100 coins from the Philadelphia Mint. It is priced at $147.

Kennedy half dollars made their debut in 1964, just a few months after the assassination of Kennedy. They were released into general circulation annually until 2002 when the Mint began striking them exclusively for numismatic purposes. However, in 2021, the situation changed when the Federal Reserve ordered millions of the coins for circulation. More halves were ordered again for circulation in 2022. The chart below displays the recent mintages.

The circulated half dollars are the usual copper-clad coins with no silver content. 

To read more, go here. 

Gold Scores Second Highest Settlement; Silver Tops $26

Thanks to the Federal Reserve with their quarter point hike in interest rates, gold and silver rose yesterday in their respective spot prices.

According to Coin News:

While prices for platinum declined on Thursday, they increased for gold, silver and palladium. Notably, silver reached a near 14-month high and topped $26 an ounce, while gold scored its second best settlement ever.

Gold for June delivery rose by $18.70, or 0.9%, to finish at $2,055.70 an ounce on the Comex division of the New York Mercantile. The settlement is the highest since Aug. 6, 2020, when gold ended at a record $2,069.40 an ounce.

Gold futures traded between $2,038.50 and $2,085.40, after increasing by 0.7% on Wednesday, rising by 1.6% on Tuesday, and shedding 0.4% on Monday.

Silver for July delivery tacked on 54.6 cents, or 2.1%, to close at $26.227 an ounce, which marks the highest settlement since March 10, 2022, when silver ended at $26.256 an ounce.

To read more, go here. 

Gold and Silver Prices Ease Slightly

Above, 2023 King Charles III Britannia coins. Photo by Armand Vaquer.

Precious metals declined a bit yesterday. This is expected as the ebb and flow of the current financial situation has enough volatility to go around. At least silver and gold weathered the declines better than platinum and palladium.

As things turned out, my latest silver order arrived yesterday, a day earlier than expected.

According to Coin News:

On Wednesday, precious metals experienced losses, with platinum and palladium falling over 2% each while gold and silver posted modest declines. This came after the latter two metals reached around one-year highs in the prior session.

Gold for June delivery shed $2.60, or 0.1%, to settle at $2,035.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are near steady in midday U.S. trading Wednesday, on a bit of profit-taking pressure and chart consolidation after hitting 12-month highs overnight. Both metals are in strong technical positions to suggest still more upside in the near term," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Having advanced by 1.9% on Tuesday for their highest settlement since March 8, 2020, gold futures on Wednesday traded between $2,026.10 and $2,049.20. They had also increased by 0.7% on Monday.

Meanwhile, silver for May delivery gave back 6.4 cents, or 0.3%, to end at $25.037 an ounce. Silver futures traded within a range of $24.78 to $25.30. They rallied 4.5% on Tuesday, logging their highest settlement since April 20, 2022, and they fell 0.6% on Monday.

To read more, go here. 

Coin News: Morgan Dollars From Tombstone Hoard Up For Grabs

Above, 1889 Morgan Silver Dollar. Photo by Armand Vaquer.

Here's some Tombstone news.

No, it's not about the upcoming Lost Dutchman Chapter No. 5917 + 4 of E Clampus Vitus clampout next month in Tombstone. It is about the upcoming sale of the "Tombstone Hoard" of Morgan silver dollars.

According to Coin News:

Historic Morgan silver dollars from the extraordinary Tombstone Hoard will be made available in April 2023 by Rare Collectibles TV (www.RareCollectiblesTV.com).

All in high-quality mint condition with some graded NGC MS67, these century-old coins were accumulated over four decades by a collector in Southern Arizona. This is the same area of the state as the legendary Old West city of Tombstone, the heart of Arizona’s 19th century silver boom.

"This hoard had around 40,000 coins. My partner Rick Tomaska and I have carefully cherry-picked about 1,200 of the Morgan silver dollars for our strict standards of stunning eye appeal," said RCTV Co-Founder Jack McNamara. "Among these coins are some ultra-rare, high-grade Morgan dollars that had been hidden away in a private collection for over 40 years."

These coins are simply the best-of-the-best and they are the only examples submitted to Numismatic Guaranty Company (NGC) for certification with the Tombstone Hoard pedigree," explained McNamara.

 To read more, go here.

2023 American Silver Eagle Proof Coin Sales Numbers

Above, the standalone 2023 American Silver Eagle Proof coin. Photo by Armand Vaquer.

Talk about being at the right place and at the right time.

The U.S. Mint released its 2023-W American Silver Eagle Proof coin on March 2. I attended the National Money Show of the American Numismatic Association in Phoenix on March 4. The U.S. Mint had a booth at the show selling their goods, including the 2023-W American Silver Eagle Proof coin sets.

(For an article by Numismatic News on the U.S. Mint's offerings this year, go here.)

The sales numbers are now out and they are down from last year's sales.

I bought the single standalone coin, which cost $80. It was signed by U.S. Mint Director Ventris C. Gibson on the Certificate of Authenticity and on the box lid.

Coin News reported:

Early United States Mint sales figures are in for the 2023-W Proof American Silver Eagle.

Released March 2 in three options, by itself, in 40-coin packs for authorized bulk buyers, and as a part of the 2023 Congratulations Set, the 1-ounce silver coin reached combined sales of 420,199, marking a sizable 37.7% drop from last year’s coin which logged early reported sales of 673,987.

In breaking down the numbers by product, sales through March 5 for the 2023-W Proof Silver Eagle include:

• 335,209 coins for the standalone option (product code 23EA),
• 50,200 coins for the 40-coin bulk option (23EA040) with 1,255 units sold, and
• 34,790 coins as a part of the Congratulations Set (product code 23RF)

Since the economy is dicey right now at best, with a recession possibly looming (some economists say), it is understandable why sales are down.

To read more, go here.

Gold and Silver Prices Surging

Above, Niue Godzilla vs. Kong silver two dollar coin. Photo by Armand Vaquer.

Thanks to the weakness of the U.S. dollar, gold and silver prices have been surging. 

This is good news for sellers, but not for buyers.

According to Coin News:

Precious metals finished higher, across-the-board, for a second straight session Thursday. Gold’s increase was its third in a row. The yellow metal ended above $1,800 an ounce for the first time since Friday.

Gold for February delivery tacked on $3.50, or 0.2%, to settle at $1,801.50 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures traded between $1,793.20 and $1,806.90. They climbed 0.9% on Wednesday, they edged up 0.06% on Tuesday, and they fell 1.6% on Monday.

Silver for March delivery settled up 32.4 cents, or 1.4%, to $23.246 an ounce. Silver futures ranged from $22.72 and $23.43. They jumped 2.6% on Wednesday, they shed 0.4% on Tuesday, and they dropped 3.6% on Monday.

To read more, go here.