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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PCGS Million Dollar Coin Club Now Includes 235 Coins Valued at $500+ Million

The second annual PCGS Million Dollar Coin Club reference guide has been unveiled by Professional Coin Grading Service (www.PCGS.com). At an estimated $20 million, the historic 1849 Double Eagle is the highest valued coin in the 2011 list of the PCGS Million Dollar Coin Club. (Photo credit: Smithsonian's National Museum of American History.) Originally launched in January 2010 with 210 "charter member" United States rare coins valued by experts at $1 million or more each, the "club" now has grown to include 235 coins with a combined value of over a half billion dollars. Some individual coins have jumped in estimated value as much...

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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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Heritage February 2011 Long Beach US Coin Auction Realizes $8.596M

Collectors put particular emphasis on acquiring high-grade Saint-Gaudens coinage in Heritage’s $8.596 million Long Beach Signature® U.S. Coin Auction, February 5-6, 2011, at the Long Beach Convention Center. This 1921 Saint-Gaudens $20 MS62 NGC realized $126,500 at the Heritage February 2011 Long Beach US Coin Auction. The auction saw a 94% sell-through rate by value and 97% sell-through rate by lot. All prices below include 15% Buyer’s Premium. "I think steady and solid is the best way to categorize the results," said Greg Rohan, President of Heritage Auctions. "Not spectacular, but about what we expected, with a little more on top....

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