PILONCITOS: The treasure of Philippine numismatic

Piloncitos is the earliest form of precious metal based currency of the Philippines. It is likely made of pure gold with a weight ranging between .5 grams to more or less than 3 grams.Piloncitos is not exclusively found in the Philippines as most collectors and local historians have agrees. Similar type of gold can be found in some regions of Indonesia which they call massa.The earliest written account of Piloncitos was made by our national hero, Jose Rizal himself. According to Rizal, he found the gold nugget while tilling the soil of Dapitan. He himself coined the word piloncitos, which basically describe the coin's unusual shape....

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Migration to Gold increases as Market uncertainty continues

Last Wednesday -- which was the worst day for both the dollar and US equities -- the average price of US Mint-manufactured gold rose to $1952/oz. That's about $130/oz higher than gold futures got that day.Meanwhile, Gold continues to break all-time records as uncertainty and lost of confidence hammer the U.S. dollar. There were times Gold was even at par or more with Platinum which were never seen before.Gold dealers on Ebay continue to profit from the market tremors brought by the sudden surge in the prices of precious metals especially with Gold. In demand right now are bullion coins most likely falling from .900 or of higher purity.Bangko...

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Gold soared to $1700 despite U.S. credit downdgrade

Gold soared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar. Both U.S. gold futures and cash gold could rise further if pledges by the Group of Seven nations to support battered financial markets fail to bear fruit as investors turn their attention to the Federal Reserve's policy-setting committee, the FOMC, meeting on Tuesday. The one notch downgrade by Standard & Poor's of the U.S. long-term rating on Friday added to the threat of contagion from the euro debt crisis, fears over recession in the United States and even the possibility of a third round of U.S. quantitative easing. Spot gold touched a lifetime high around $1,714 an ounce, its 11th...

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Special Report: Philippine Coin prices

Philippine coin prices have been bullish lately due to the extended streak of gains of bullion prices in the world market. However, collectors have not been so intuitive lately that most silver and gold coins escaped much attention as it went to only a handful of local investors.Street price (Quiapo price) has been used as the pattern for local coins since but due to the crisis brought by several catastrophic events, it has been rendered lately as obsolete as experts predict that climb of bullion metals will become regular and most of the times erratic.U.S. gold and silver prices extended their gains Wednesday as gold reached a new all-time record high for a second straight day and silver advanced to a fresh 31-year high for a third day. The metals gained on the back of a weaker U.S. dollar...

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Silver dips to $34 as Global crisis deepens

U.S. gold and silver prices were little changed Monday as gold climbed 0.2 percent and silver dipped 0.3 percent. Platinum and palladium, however, faltered heavily on industrial demand concerns following Japan’s earthquake. The metals fell 1.7 and 2.3 percent, respectively. April gold prices edged up $3.10 to close at $1,424.90 an ounce on the Comex in New York. Gold was traded as low as $1,418.20 and as high as $1,433.50. "Gold … remains well bid due to all the uncertainty in the world, led by Japan’s possible nuclear meltdown. The Middle East crisis still looms though it is no longer the lead story on the headlines," Miguel Perez-Santalla, vice president of Heraeus Precious Metals Management, said and was quoted on Reuters. Silver prices for May delivery retreated 9.5 cents drops to $34.66...

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Silver makes record at $35.33 an ounce

U.S. silver prices on Friday soared to $35.33 an ounce, bringing silver coin values to 31-year highs in the process. Silver rose nearly 84% last year, but it was down for most of 2011 until Middle East tensions sparked investor buying and lifted silver prices to new heights. The metal is already 14.2% higher this year and has doubled in price over the past 12 months. In coin terms, a Washington quarter struck for circulation in 1964 now has a melt value of $6.39 since it is composed partly of silver. In contrast, go one and two years back and that same 25-cent piece had melt values of $3.11 and $2.33, respectively. The 1964 quarter is one of several very common 90 percent silver coins produced by the United States Mint for everyday circulation. All of them have seen their intrinsic coin values...

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Gold hits another record high, Silver just 2.5cents shy of $35

U.S. gold extended its record high for a second straight day on Wednesday. Silver prices reached a fresh 31-year high with its best point just 2.5 cents shy of $35 an ounce. Investors edgy over inflation and unrest in the Middle East and North Africa sunk their money into safer bets, like gold and silver. April gold prices advanced $6.50, or 0.5 percent, to close at $1,437.70 an ounce on the Comex in New York. It traded from a low of $1,428.20 to a high of $1,441.00. Gold is up 1.1 percent in 2011. "The bullish breakout to a fresh all-time high has put gold in an outstanding technical position to extend its advance into record territory," Richard Ross, global technical strategist at Auerbach Grayson said, according to MarketWatch. "The triple top breakout reinforces an already bullish picture...

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Gold Tops $1,400, Silver at $34, Palladium Plunges

U.S. gold is over $1,400 an ounce and silver prices reached a fresh 31-year high Tuesday as uprisings in the Mideast and North Africa elicited safe-haven buying, opined analysts. Gains were deeper around the world during the previous day, however, when the key New York market was closed in celebration of President’s Day.However, despite the quake that hit Christchurch, New Zealand the rally continued but not without Silver breaking record by reaching more than $34 an ounce. April gold prices advanced $12.50, or 0.9 percent, to $1,401.10 an ounce on the Comex in New York. Prices ranged from a low of $1,390.10 an ounce to a high of $1,411.50 an ounce. Gold is still down for the year, however. It has declined 1.4 percent since the $1,421.40 closing price at the end of 2010. "Bullion...

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Silver breached $33 level, Gold up as Middle East unrest continues

Gold climbed above $1,400 an ounce to the highest price in almost seven weeks in London as unrest in the Middle East and concern inflation will quicken boosted demand. Silver reached a 30-year high on $33 and palladium advanced. Libyan leader Muammar Qaddafi’s son Saif al-Islam Qaddafi called on protesters to engage in dialogue or face a civil war that risks “hundreds of thousands of dead.” In the latest step to curb inflation, China’s central bank said Feb. 18 it would raise reserve requirements for lenders as of Feb. 24 after boosting interest rates earlier this month. “The mix of Middle Eastern jitters and inflation concerns continues to create a favorable price environment for the precious metals, particularly gold and silver,” James Moore, an analyst at TheBullionDesk.com in London,...

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Silver jumps to $32, Gold hits 5-week high

U.S. precious metals prices rose Thursday, with gold closing to its best level in five weeks and silver surging to a 31-year high. April gold prices advanced $10, or 0.7 percent, to $1,385.10 an ounce on the Comex in New York — its best settlement price since January 13. Gold ranged between $1,374.60 and $1,385.00 an ounce. A weaker dollar, concerns over higher US inflation and safe-haven buying due to tensions in the Middle East were among the topics proffered for gains. "The CPI data showed there is a lot of inflation around now. Certainly, inflation and the concern about the Middle East in general are very supportive factors," Bruce Dunn, vice president at bullion dealer Auramet, was quoted on Reuters. Gasoline prices rose 3.5 percent in January and climbed 13.4 percent over...

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US Mint Sales: 2011 Sets Draw Solid Numbers

Newly released coins and sets dominated the sales charts in the latest round of figures published by the US Mint. Several older-dated numismatic products also picked up a touch. Although the new US Mint annual sets have started slower, weekly sales increases continue to top the 20,000 level2011 Proof Sets added 20,473 versus the previous weekly gain of 21,784. Collectors have ordered 321,280 at a price tag of $31.95 each since their release on Jan. 11, giving the US Mint a $10.2 million boost in revenue. Last year’s issue, which is still available, rose 2,752 against 3,043. Their tally stands at 1,060,329. 2011 Silver Proof Sets rose...

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Silver on its highest level as Gold continues climb

Silver advanced to a 30-month high as the dollar slumped on prospects for a further easing of monetary policy by the U.S. central bank to safeguard the economic recovery. Gold traded near a record.Spot silver gained as much as 0.3 percent to $21.2225 an ounce, the highest level since March 2008, before trading at $21.1512 at 12:15 p.m. in Singapore. Gold was little changed at $1,292.55 an ounce, after reaching a record $1,296.30 yesterday.“With the prospect of quantitative easing coming on board, money is flowing into riskier assets, such as commodities,” said Justin Smirk, chief economist at St. George Bank Ltd. in Sydney. Silver may climb to...

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GINTO: A Documentary of Kara David

Sixty years after the Japanese Occupation, rumors of gold left hidden in the Philippines still live. In Cagayan Valley, one of the last strongholds of the Japanese during the war, there is a city of tunnels – an intricate network of underground passages that were built by locals in search of hidden treasures.PART 1Kara David meets Tatang Ago, 82 years old, a living witness who claims he carried highly valuable and secret packages for the Japanese before the war ended. He recalls being instructed never to look at the contents of the mysterious packages which he believed were tucked away in their town.Together with Tatang Ago’s son “Ben", Kara David begins her own search for hidden gold and discovers an old balete tree that hides a tunnel underneath. They discover chambers inside...

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Gold hits an all time high of $1045, dollar continues to plunge

Gold prices surged to a new high Tuesday as investors sought a safe harbor from a falling dollar and inflation.Gold for December delivery rose to as high as $1,045 an ounce, surpassing a previous intraday high of $1,033.90 logged in March 2008, just days after Bear Stearns Cos. collapsed.Gold also had a record high closing price, finishing the day at $1,039.70 an ounce, up $21.19, or 2.2 percent. Some analysts see the dollar rising to $1,100 in the coming days.Gold's advance was stoked by a tumbling dollar, which hit a 14-month low against the Australian currency after Australia became the first major country to raise interest rates since the...

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Gold passed $1020, Silver at $17, & Platinum $1340

Last summer was by far remembered as the peak of the price of precious metals when gold reached a record level together with silver and platinum. A year after the collapse of Lehman Brothers, it seem that the prediction made of Peter Schiff that gold may reached $2000 is still around the corner.Gold climb again to $1020 level and gained at least 16$ in 24 hours as silver surpassed $17 after falling to less than $10 at the beginning of the year. Rumors about China buying the all the gold it could purchase after its government has allowed its companies to walk away from their obligation from US companies. China has been reported to have stockpiled 1000 tonnes of gold due to the suppression of the price of gold for last year.Analyst and author of the famous book "Crashproof", Peter Schiff otherwise...

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BSP Gold Refinery

A few years ago, the Bangko Sentral ng Pilipinas (BSP) came out with a beautiful coffee table book entitled, “Ginto: History Wrought in Gold.” The book, which discussed our rich history in terms of our nation’s gold possessions, was the subject of one of my columns last year. A recent development at the BSP, which is in charge of refining Philippine gold to be sold to the international market, is worth another brief discussion.Last May 28, the BSP gold refinery at the Security Plant Complex in Quezon City received good news from the London Bullion Market Association. The LBMA periodically certifies a list of refineries around the world that produce...

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Rare coin could get more than $2M at an auction

CINCINNATI – The coin world is abuzz over the auction of a rare silver dollar, one of the most valuable in the world and one of only 15 known to exist from a never-circulated group made for the likes of the King of Siam and the Sultan of Muscat.The 1804 Adams-Carter silver dollar fetched more than $2 million in a private sale two years ago and is expected to top that again this week. The coin has been owned by a Boston banker, a Texas publishing mogul and by a collector who sold everything to help build a church school in Ohio.The auction is a major happening for collectors — even ones who can't afford the expected price tag — partly because...

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Speculators forecast Gold May Rise on Demand for Dollar Alternative

Gold may extend its rally for a second straight week as the slumping dollar boosts demand for the precious metal as an alternative investment.Twenty-one of 28 traders, investors and analysts surveyed from Tokyo to Chicago on March 19 and March 20 advised buying gold, which rose 2.8 percent last week to $956.20 an ounce in New York. Five said to sell, and two were neutral.Last week, the dollar dropped 4.8 percent against the euro, the most since December. Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, has jumped 41 percent this year to a record.Most traders surveyed on March 12 and March 13 have expected...

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The returning gold barter

After posing as one of the most wealthy and promising African nations, Zimbabwe fell to its knees brought by massive inflation, civil and political unrest, and dictatorship.Recently, the country made records by the issuance of denominations only equivalent with that of the Weimar Republic when Germany itself once succumbed with the crippling inflation. Zimbabwe's currency crisis held the country's literally chaotic that even computers and automated teller machines (ATM) where rendered useless by digits added on a daily basis.Inflation is on a massive scale that the government issues new denominations every now and then.Now, the current situation...

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Gold rose, Silver back on the $13 level

After brief and swift dives, Gold, Silver, and Platinum are up for a third straight day on speculation the recession will deepen, boosting the appeal of the precious metal as a store of value. Silver is back on the $13 level.Even the Dow surge to the 7000 mark as bank stocks like HSBC (HongKong & Shanghai Banking Corporation) concluded the week with a better outcome.“Gold continues to resist any sustained decline, bouncing back quickly from any minor sell off,” said Adrian Day, president of Adrian Day’s Asset Management in Annapolis, Maryland. “The fly in the ointment could be a sustained and strong, broad global stock-market rally which...

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