US Mint Lowers Prices on Collector Gold Coins

The United States Mint today reduced prices on more than a dozen collector gold coins in response to significantly lower gold prices.

These United States Mint 2011 Commemorative Gold Coins were among those to have their prices lowered. They also have a sales deadline of Friday, December 17, at 5 PM ET.

The Mint averages gold from the previous Thursday to the current Wednesday to arrive at coin prices each Wednesday.

Since November 23, the range the United States Mint had been using to base its pricing on collector gold coins was gold within $1,750.00 - $1,799.99 an ounce. Precious metals have been tumbling for several days, however, and the range changed to within $1,700.00 - $1,749.99 an ounce. That initiated the following adjustments:

4 First Spouse Uncirculated CoinsAmerican Eagle Uncirculated CoinAmerican Eagle Proof Coin 1/2 oz.American Eagle Proof Coin 1/4 oz.American Eagle Proof Coin 1/10 oz.American Gold Eagle 4-Coin Proof SetU.S. Army $5 Commemorative ProofU.S. Army $5 Commemorative UncirculatedU.S. Medal of Honor $5 Commemorative ProofU.S. Medal of Honor $5 Commemorative Uncirculated

Note: The First Spouse Gold Coins listed above honor and feature the portraits of Lucretia Garfield, Lucy Hayes, Julia Grant and Eliza Johnson.

Around noon Eastern Time, the United States Mint began adjusting the price of each coin listed above. They have all since been changed. Buyers should expect the pricing levels to last until at least next Wednesday. (However, on that note, each of the commemoratives listed above will only be available until Friday at 5:00 PM Eastern Time. That is the designated time that the Mint said it would stop selling 2011 commemoratives in order to comply with the two laws that authorized their production only during a single calendar year.)

Check out this site's coins section for more information on the above United States Mint product offerings, or visit the bureau's website at http://www.usmint.gov/.

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How Did An Investment Pro Lose Money Investing In Gold?

Despite the recent set back in gold prices due to panic selling by investors, gold has still racked up an impressive 15.7% gain with a price increase of $218 per ounce since the first of the year.  So how does a hedge fund manager with one of the best track records in the industry wind up losing over 10% on his gold portfolio?

The man who can answer this question is John Paulson, famous for his billion dollar gains betting against subprime mortgages before they collapsed in price.  Making matters even worse, the set back in Paulson's Gold Fund, although painful, pales in comparison to losses run up by the Paulson Advantage Fund, as reported by Bloomberg.

John Paulson, the billionaire money manager mired in the worst slump of his career, lost 10.5 percent in his Gold Fund this year even as the metal heads for its 11th straight annual gain, according to people familiar with the fund’s performance.

The fund, which invests in mining stocks and other gold- related securities, remains the best performer in Paulson’s $28 billion fund family this year. His Paulson Advantage Fund, which seeks to profit from corporate events such as takeovers and bankruptcies, has fallen about 35 percent. The performance numbers for the two funds are from Dec. 28, 2010, through Dec. 20, 2011, and may not reflect returns for all shareholders, said the people, who asked not to be identified because the information is private.

Paulson & Co., based in New York, has lost money this year on investments including Citigroup Inc., Bank of America Corp. and Sino-Forest Corp., the Chinese forestry company accused by short-seller Carson Block of overstating timberland holdings. Paulson, 56, cut the so-called net exposure in his main hedge funds to 30 percent last month and reduced bullish bets across all his funds.

Paulson's frustrations with the losses on his gold portfolio mirrors that of other investors who have bet on gold stocks and lost despite the fact that gold bullion scored another impressive advance this year.

Paulson's had large positions in Anglo Gold Ashanti (AU), Gold Fields Ltd (GFI), Nova Gold Resources (NG), Agnico-Eagle Mines (AEM), Iamgold Corp (IAG) and Barrick Gold Corp (ABX), all of which declined.  Agnico-Eagle Mines was the worst performer with a stunning decline of over 50% on the year.

It will be interesting to see if Paulson dramatically reduces his positions in gold mining shares over the coming quarters.  Given the fact that the fundamentals for owning gold are stronger than ever and gold mining shares are deeply oversold, it would not be surprising to see Paulson actually increase his gold stock holdings.

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2011 Commemorative Coins Closing Sales

Overall, a few more sales were higher in the latest round of United States Mint figures than the prior week.

U.S. Mint image of several 2011 Commemorative Coins

The most noticeable improvements occurred in two groups, the 2011 commemorative coins and the products containing Presidential $1 coins. As for milestones, the 2011 Mint Set finally overtook the 500,000 marker.

All ten of the 2011 commemorative coins increased over their previous weekly gains. It was their final week of availability since the United States Mint placed an ordering deadline of Friday, December 16, to give itself time to ship the last orders and resolve any problems before the end of the year. Laws for the commemorative coins mandate the coins only be issued in the 2011 calendar year.

As usual, the best commemorative coins sellers were the US Army Silver Proof and the Medal of Honor Silver Proof. Of the 296,391 US Army coins in gold, silver and clad that sold between January 31 and this past Friday, 40% were silver proofs. Similarly, 183,882 Medal of Honor gold and silver commemoratives sold between February 25 and December 16, with 61% being the silver proofs.

Each of the available Presidential dollar 25-coin sets and all but one of the eleven Presidential $1 Coin Covers advanced with greater sales than the prior week. The biggest gainer of the group was the Hayes 25-coin roll set from Philadelphia, which added 312 in this round compared to 205 previously.

Also in this report, the 2011 United States Mint Set posted the third highest gains. It followed behind the sales of the 2011 Proof Set with 14,016 and the 2011 Silver Proof Set with 6,735.

Since 6,575 of this year's Mint Set were purchased, its sales crossed a major milestone and landed at 501,409 in this report. It had been available since February 8, 2011. As a comparison, the 2010 United States Mint Set came to 581,308 in this round after having been on sale since July 15, 2010. Their orders crossed the half million marker during the week ending Sunday, December 5, 2010.

All available sales on United States Mint products are below. The first three columns of the table provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, December 19, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Thursday, December 22. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins$5 Gold Proof Commemorative Coins$5 Gold Uncirculated Commemorative Coins$1 Silver Proof Commemorative Coins$1 Silver Uncirculated Commemorative Coins$5 Gold Proof Commemorative Coins$5 Gold Uncirculated Commemorative Coins$1 Silver Proof Commemorative Coins$1 Silver Uncirculated Commemorative Coins50¢ Clad Proof Commemorative Coins50¢ Clad Uncirculated Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)Lucretia Garfield Proof (2011)Lucretia Garfield Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2011 America the Beautiful Quarters "Circulated" Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetCHICKASAW QUARTER QUARTER BAGS & ROLLSVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLS2011 JAMES GARFIELD $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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2011 US Mint Proof Sets Pass 1M in Sales

In the newest round of numismatic sales, 2011 US Mint Proof Sets posted the highest gains, pushing the total ordered beyond one million. Another set is getting close to a major milestone, and a few items surged, such as the commemorative coins.

2011 US Mint Proof Set

Thanks to the 22,346 purchases, this year's US Mint Proof Sets sales reached 1,020,572 after having been available since January 11, 2011. As a comparison, 2010 US Mint Proof Sets came to a total of 1,099,533 and they have been on sale since July 22, 2010. Their orders crossed the one million marker slightly faster however. It happened during the week ending Sunday, December 12, 2010.

The 2011 US Mint Uncirculated Set, that has been on sale since February 8, is approaching the 500,000 marker. Collectors picked up 8,681 of them during the week, but 5,166 more sales are needed to reach a half million. Its total ended at 494,834 in this report.

Per the Last Opportunity notice, the deadline to order this year's commemorative coins is coming Friday, December 16, at 5:00 p.m. Eastern Time. Several buyers did not wait and scooped up more in this round than the last. Five out of six US Army commemorative coins improved, and two out of four Medal of Honor coins outperformed.

Among the commemoratives' best sellers were the US Army Silver Proof and the Medal of Honor Silver Proof. Each added 1,435 and 1,408 respectively. In the prior report, their sales grew by 1,108 and 1,402.

All available sales on United States Mint products are below. The first three columns of the table provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, December 12, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Wednesday, December 14. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins2011 Medal of Honor Commemorative Coins2011 U.S. Army Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)Lucretia Garfield Proof (2011)Lucretia Garfield Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2011 America the Beautiful Quarters "Circulated" Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetCHICKASAW QUARTER QUARTER BAGS & ROLLSVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLS2011 JAMES GARFIELD $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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2011 Commemorative Coins Ordering Deadline Friday 5 PM ET

United States Mint image of several 2011 Commemorative Coins

The sale of the United States Mint 2011 Commemorative Coins ends Friday, December 16, at 5:00 PM Eastern Time. The coins and their current prices are listed below.

2011 US Army Commemorative Coins

Three different themes are featured on the three different types of coins struck to honor the soldiers and celebrate the establishment of the United States Army.

2011 U.S. Army $5 Gold Proof, $510.002011 U.S. Army $5 Gold Uncirculated, $500.002011 U.S. Army $1 Silver Proof, $59.952011 U.S. Army $1 Silver Uncirculated, $54.952011 U.S. Army 50¢ Clad Proof, $21.952011 U.S. Army 50¢ Clad Uncirculated, $19.95

2011 Medal of Honor Commemorative Coins

The Medal of Honor is awarded by the President to only a few exemplary military people who risked their life above and beyond the call of duty during battle or conflict. These commemorative coins celebrate and acknowledge the award and its recipients. Different artwork, featuring various designs of the award though the years, is on the gold and the silver coins.

2011 Medal of Honor $5 Gold Proof, $510.002011 Medal of Honor $5 Gold Uncirculated, $500.002011 Medal of Honor $1 Silver Proof, $59.952011 Medal of Honor $1 Silver Uncirculated, $54.95

Surcharges are included in the price of each coin. For each sale of the US Army commemoratives, the money raised will go towards the Army Historical Foundation to help finance the National Museum of the United States Army.

The surcharges of each Medal of Honor Commemorative will go to the Congressional Medal of Honor Foundation for its support of the Medal of Honor recipients and promoting the values of courage, sacrifice, and patriotism.

Interested buyers may place their orders on the US Mint website at www.usmint.gov/catalog or by calling the toll-free number 1-800-USA-MINT (872-6468) before 5PM ET today.

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Final 2012 America the Beautiful Quarter Designs

The United States Mint revealed the final designs that were chosen by U.S. Treasury Secretary Geithner for the upcoming 2012 America the Beautiful Quarters.

Final 2012 America the Beautiful Quarter Designs

The five new designs on the quarters will enter public circulation at different times during the year. They will also be part of several numismatic sets that the United States Mint will offer, and the same designs will appear on the five ounce coins -- the collector America the Beautiful 5 Oz. Ounce Silver Uncirculated Coins and the America the Beautiful 5 Oz. Silver Bullion Coins.

Below are the images and descriptions of the final designs for each site honored during the year. The date the quarters are scheduled to enter circulation via the Federal Reserve Bank System is also listed. The images of the designs may be enlarged by clicking on them.

El Yunque is the only tropical rain forest in the U.S. National Forest system. The quarter's design features the Puerto Rican parrot on a branch and the Coqui tree frog on a nearby leaf. Inscriptions are EL YUNQUE, PUERTO RICO, 2012 and E PLURIBUS UNUM.

El Yunque National Forest Quarter - Reverse Design

United States Mint Artistic Infusion Program (AIP) Master Designer Gary Whitley designed it, and United States Mint Sculptor-Engraver Michael Gaudioso engraved it.

America the Beautiful Site Location: Puerto Rico
Release Date: January 23

The Chaco design features a part of the architecture of the Chetro Ketl Complex within the canyon of the park. Two elevated kivas are in the center with a wall of the historic complex and the canyon to one side. Inscriptions are CHACO CULTURE, NEW MEXICO, 2012 and E PLURIBUS UNUM.

2012 Chaco Culture National Historical Park Quarter - Reverse Design

Designing the reverse was AIP Master Designer Donna Weaver. The sculptor was United States Mint Sculptor-Engraver Phebe Hemphill.

America the Beautiful Site Location: New Mexico
Release Date: April 2

With 40 miles of ocean shoreline, it makes sense that the reverse of the Acadia quarter features the Bass Harbor Head Lighthouse and the rocky coastline. Inscriptions are ACADIA, MAINE, 2012 and E PLURIBUS UNUM.

Acadia National Park Quarter - Reverse Design

It was designed by AIP Associate Designer Barbara Fox and sculpted by United States Mint Sculptor-Engraver Joseph Menna.

America the Beautiful Site Location: Maine
Release Date: June 11

What else but a volcano could be portrayed on the reverse of the Hawaii quarter? The United States Mint reports the depiction is an eruption on the east rift of Kilauea Volcano. The coin's inscriptions are HAWAI'I VOLCANOES, HAWAII, 2012 and E PLURIBUS UNUM.

2012 Hawaii Volcanoes National Park Quarter - Reverse Design

United States Mint Sculptor-Engraver Charles L. Vickers designed and engraved the reverse.

America the Beautiful Site Location: Hawaii
Release Date: August 27

Mount McKinley, located in Denali National Park, is the tallest peak in North America, as it climbs 20,320 feet into the air. Thus it seems fitting that is it on the reverse of the fifth quarter of 2012. In the foreground is a Dall sheep on a rocky slope. Inscriptions are DENALI, ALASKA, 2012 and E PLURIBUS UNUM.

Denali National Park Quarter - Reverse Design

AIP Master Designer Susan Gamble created the design and United States Mint Sculptor-Engraver Jim Licaretz engraved it.

America the Beautiful Site Location: Alaska
Release Date: November 5

Each obverse, or heads side, will remain the same on the coins in the program. It is the familiar portrait of George Washington, the first President of the United States. John Flanagan is credited for the image. The inscriptions are UNITED STATES OF AMERICA, LIBERTY, IN GOD WE TRUST and QUARTER DOLLAR.

America the Beautiful Quarters launched in 2010. All of the 2011 quarters have been released. Five rotating designs each year will feature a national site in every state, U.S. territory, and the District of Columbia until the final design is released in 2021.

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Chickasaw National Recreation Area Quarter Three-Coin Set Release

A collector product, the Chickasaw National Recreation Area Quarter Three-Coin Set, launched on December 20, 2011, from the United States Mint. Priced at $14.95, the set is a bit more economical way of obtaining collector Chickasaw quarters from each U.S. Mint facility that produces them.

U.S Mint image of the Chickasaw National Recreation Area Quarter Three-Coin Set

The Chickasaw set is the fifth this year and the tenth in the America the Beautiful Quarters Three-Coin Set™ series. Previous 2011 issues include the Gettysburg, Glacier, Olympic, and Vicksburg sets. Each of these, and the 2010-dated issues, remain available from the U.S. Mint.

Every Three-Coin Set in the series features a proof strike from San Francisco, an uncirculated strike from Philadelphia, and an uncirculated strike from Denver. They are mounted on a durable plastic card that contains a brief description of the national site and the coin's design. On the back of the card is the product's Certificate of Authenticity.

The 2011 Chickasaw quarter reverse, designed by Donna Weaver and sculpted by Jim Licaretz, features the Lincoln Bridge, a popular visitor location that was dedicated in 1909 to celebrate the centennial of Abraham Lincoln's birth. Inscriptions include CHICKASAW, OKLAHOMA, 2011 and E PLURIBUS UNUM.

Hobbyists may place an order for the Chickasaw National Recreation Area Quarter Three-Coin Set on the Mint's online store at http://www.usmint.gov/catalog or by calling 1-800-USA-MINT (872-6468).

The United States Mint press release about the set is provided below.

WASHINGTON - Collectors may begin placing their orders for the United States Mint's 2011 America the Beautiful Quarters Three-Coin Set - Chickasaw National Recreation Area (Oklahoma) on December 20, 2011, at noon Eastern Time (ET). 

The set contains two uncirculated quality Chickasaw National Recreation Area quarters - one each from the United States Mint facilities at Philadelphia and Denver - and one proof quality quarter from the United States Mint at San Francisco. The coins are mounted on a durable plastic card that includes a brief description of the site and the coin design, as well as a Certificate of Authenticity on the back.

The 2011 America the Beautiful Quarters Three-Coin Set - Chickasaw National Recreation Area is priced at $14.95. To place an order, visit http://www.usmint.gov/catalog or call 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468).  A charge of $4.95 is added to all domestic orders to cover shipping and handling costs.

The America the Beautiful Quarters Three-Coin Set is also available for purchase through the United States Mint's Online Subscription Program. For more information about this convenient ordering method, please visit http://www.usmint.gov/catalog.

Released to the public November 14, the Chickasaw National Recreation Area quarter reverse (tails side) design features the Lincoln Bridge, built of limestone and dedicated in 1909 to celebrate the centennial of Abraham Lincoln's birth.  Inscriptions are CHICKASAW, OKLAHOMA, 2011 and E PLURIBUS UNUM.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of December 20, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored. For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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Garfield Presidential $1 and First Spouse Medal Set

The final Presidential $1 and First Spouse Medal Set of 2011 will be on the market soon. The United States Mint announced their plans to launch the Garfield Presidential $1 and First Spouse Medal Set on Thursday, December 22, at 12:00 PM (noon) Eastern Time.

U.S. Mint image of the Garfield Presidential $1 and First Spouse Medal Set

This collector's set contains an uncirculated James Garfield Presidential $1 Coin and a Lucretia Garfield Bronze Medal, bearing the likeness of the First Spouse Gold Coins that honor her.

The two pieces are mounted on durable card stock, with the couple's names, signatures, and portraits on the front. The back of the card lists the issuance information of the $1 and medal.

At $14.95 each, the Garfield Set is priced the same as the other 2011-dated sets in the series. Earlier ones, which are still available, honored the Johnsons, the Grants and the Hayes. The standard shipping and handling fee of $4.95 will apply to all domestic orders.

James Garfield was the 20th President of the United States. He and Lucretia were in the White House in 1881.

For reference, the U.S. Mint press announcement below is about the Garfield Presidential $1 Coin and First Spouse Medal Set.

WASHINGTON - The United States Mint Presidential $1 Coin & First Spouse Medal Set - James Garfield will be available for purchase starting at noon Eastern Time (ET) on December 22, 2011. The set includes an uncirculated quality James Garfield Presidential $1 Coin and a bronze medal bearing the same likeness of Lucretia Garfield that appears on the First Spouse Gold Coin struck in her honor.

The coin and medal are encased in a durable plastic card that is enhanced with beautiful representations of the portraits of the President and first lady, with issuance information on the back.

The United States Mint Presidential $1 Coin & First Spouse Medal Set - James Garfield is priced at $14.95. To place an order, visit the United States Mint's Web site, http://www.usmint.gov/catalog, or call 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468). A $4.95 shipping and handling charge will be added to all domestic orders.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of December 22, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored. For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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New Frontier Congressional Gold Medal for Astronauts, Versions for Public

Leaders of Congress awarded John Glenn and the astronauts of Apollo 11 -- Neil Armstrong, Buzz Aldrin, and Michael Collins -- with the New Frontier Congressional Gold Medal on Wednesday during a ceremony at the US Capitol.

Two different sized bronze versions of New Frontier Congressional Gold Medal are available to the public.

The United States Mint struck the medals that were presented, and now it is selling a large (3 inch) and a small (1.5 inch) bronze version of the medal directly to the public.

The obverse of the medal features portraits of Armstrong, Aldrin, Collins and Glenn, all wearing their astronaut suits. The design also depicts the Earth from orbit in the lower half of the medal and a scene in the center of an astronaut walking on the moon towards the flag. Inscriptions include JOHN GLENN, NEIL ARMSTRONG, MICHAEL COLLINS, and BUZZ ALDRIN. The image was designed by Joel Iskowitz and sculpted by Phebe Hemphill.

The reverse features the Lunar Excursion Module orbiting the moon and the Friendship 7 mission capsule orbiting the Earth. Inscriptions include WE CAME IN PEACE FOR ALL MANKIND. It was designed by Iskowitz and sculpted by Don Everhart.

The bronze medals went on sale at noon Eastern Time on Wednesday, November 16, 2011. They are $44.95 for the three-inch version and $7.95 for the one and a half inch version. Orders can be placed at http://www.usmint.gov/catalog or 1-800-USA-MINT (872-6468). Hearing and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468).

For reference, the Mint's announcement about the bronze medals follows.

WASHINGTON - The New Frontier Congressional Gold Medal was presented today to astronauts John Herschel Glenn, Jr.; Neil A. Armstrong; Edwin E. "Buzz" Aldrin, Jr.; and Michael Collins during a ceremony in the Rotunda of the U.S. Capitol. The medal, designed and struck by the United States Mint, is in recognition of these astronauts' significant contributions to our Nation.

John Glenn became the first American to orbit the Earth on February 20, 1962, helping pave the way for the first lunar landing. As mission commander for Apollo 11, Neil Armstrong gained the distinction of being the first astronaut to land a spacecraft on the moon and the first to step on its surface on July 21, 1969. Buzz Aldrin joined Armstrong in piloting the lunar module, Eagle, to the surface of the moon and became the second person to walk on the lunar surface. Michael Collins piloted the command module, Columbia, in lunar orbit and helped his fellow Apollo 11 astronauts complete their mission on the moon.

The medal's obverse (heads side) depicts the portraits of Apollo 11 astronauts Neil Armstrong, Buzz Aldrin and Michael Collins facing left, and Friendship 7 astronaut John Glenn facing right, representing the two historic missions. The design also features a partial view of the Earth from orbit, as well as a horizon line with an astronaut walking on the lunar surface facing the flag.

The names of the four astronauts are inscribed along the outer rim. The obverse was designed by United States Mint Artistic Infusion Program Master Designer Joel Iskowitz and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill.

The medal's reverse (tails side) design features the Lunar Excursion Module orbiting the moon and the Friendship 7 mission capsule orbiting the Earth with the inscription WE CAME IN PEACE FOR ALL MANKIND. The reverse was designed by Iskowitz and sculpted by United States Mint Sculptor-Engraver Don Everhart.

Public Law 111-44, which authorized the United States Mint to strike the New Frontier Congressional Gold Medal, also authorizes the bureau to strike and issue three-inch, and one and one-half-inch bronze reproductions of the medal.

The bronze medals, priced at $44.95 (three-inch) and $7.95 (one and one-half-inch), will be available for purchase from the United States Mint at noon Eastern Time on November 16, 2011, at http://www.usmint.gov/catalog or 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468).

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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2011 Proof Silver Eagles Sold Out, Sales Hit 950,000

The latest United States Mint sales figures revealed that the 2011 Proof Silver Eagles are now sold out. The actual "sold out" tag was added Tuesday, November 22, to the coin's information page on the Mint's website The new sales numbers also showed the debut of two new products on the chart, the Garfield Dollars and the Chickasaw Quarters.

The United States Mint's 2011 Proof Silver Eagles sold out Tuesday, November 22

This year's Proof Silver Eagles made it to the top of the Mint's best selling list numerous times since its debut on June 30, 2011. At first there was a 100 coin per household ordering limit, but it was removed on July 15. The United States Mint decided to stop the presses without a warning or a waiting list after collectors scooped up 8,391 over this past week.

In all, a remarkable total of 850,000 Proof Silver Eagles sold individually and another 100,000 sold in the 25th Anniversary Silver Eagle Set, bringing the coin's sales total to 950,000 -- the second highest right after year 1986 when the proofs were first introduced./p>

In other United States Mint products, opening sales results for James Garfield dollars showed 18,794 Philadelphia rolls and 18,386 Denver rolls were bought between their launch on Thursday, November 17, and Monday, November 21. Together they totaled 37,180. The inaugural figure was slower than other 2011 Presidential rolls, since Hayes started with 38,981, Grant debuted with 40,199, and Johnson took off with 45,734 in cumulative sales. The Garfield $1 coins did, however, make the Mint's weekly top seller list.

The Chickasaw quarters appeared in the market on Monday, November 14. The coins honor Chickasaw National Recreation Area located in Oklahoma and are the tenth in the America the Beautiful Quarters® Program. Split up, collectors ordered 2,271 of the 100-coin bags from Philadelphia and 2,210 of the 100-coin bags from Denver. The two-roll set was a top seller with 17,754.

Compared to past quarter debuts in 2011, the newest release had the slowest start. The 2011 Vicksburg Quarter Two-Roll Set debuted at 18,719, the Olympic Quarter Two-Roll Set opened with 18,448, the Glacier Quarter Two-Roll Set started at 19,927, and the Gettysburg Quarter Two-Roll Set began at 20,871.

Other popular products at the top of the sales chart included the 2011 Proof Set and the 2011 Silver Proof Set. The regular Proof Set advanced by 19,870 to clock in at 952,881, and the Silver Proof Set passed its 500K milestone. Its tally is now at 500,395.

In one more note, since the holiday season is here, many businesses are making preparations for gift buying, and the United States Mint is no exception. It posted a notice on the homepage of its online catalog that read:

"To ensure delivery on any in-stock item anywhere in the U.S. by December 25, 2011, order by December 5, 2011, for standard delivery and December 12, 2011, for expedited delivery."

All available sales on United States Mint products are below. The first three columns of the table below provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, November 21, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Wednesday, November 23. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins2011 Medal of Honor Commemorative Coins2011 U.S. Army Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2011 United States Mint Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetCHICKASAW QUARTER QUARTER BAGS & ROLLSVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLSGRAND CANYON QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLS2011 JAMES GARFIELD $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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US Mint Sales: Mary Told Lincoln Gold Coins Sold Out

Proof Mary Told Lincoln gold coins moved to the "sold out" column last week. In the Unites States Mint's "no longer available" sales category, the proof Mary Todd Lincoln moved up by six orders during its final days to end with 6,909 sold. The uncirculated version had sold out back in June and stands at 3,760. Both First Spouse Gold Coin were released on December 2, 2010.

First Spouse Gold Coins featuring the portrait of Mary Todd Lincoln are sold out

The loss of the proof Mary Todd Lincoln gold coins was a bit of a surprise given that the United States Mint just recently announced that its final sales day would be on December 1, although the Mint warned of sell outs and how they can change "last chance" dates.

The two best selling United States Mint numismatic products were once again the 2011 Proof Silver Eagle and the 2011 Proof Set. According to the latest United States Mint sales figures, collectors scooped up 18,011 of the Proof Silver Eagles and 16,545 of the Proof Sets.

Demand for collector sets, though, eased compared to the prior week when most annual sets experienced higher than usual weekly gains. Even the sales of the 2011 Proof Set mentioned above did not exceed the 21,752 that sold in the prior round.

And as for the Mount Hood Quarters, whose sales expired on Tuesday, November 15, orders improved. The 100-coin bag from Philadelphia rose by 18, the Denver 100-coin bag gained 17, and the two-roll set jumped by 78. In the previous round, the gains were 14, 9, and 53 respectively.

November is suffering, comparatively speaking, in the United States Mint bullion market. Demand drastically fell for each of the one ounce size coins. At this time last month, October 17, sales of the one ounce American Gold Eagle was at 30,500, the American Buffalo coin was at 10,500, and the American Silver Eagle was at 2,432,000. Flash forward to the present, and the monthly numbers reveal 12,500 Gold Eagles, 1,500 Buffalos, and 819,000 Silver Eagles have sold.

All available sales on United States Mint products are below. The first three columns of the table below provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, November 14, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Thursday, November 17. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated American Silver Eagles2011 Proof American Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins2011 Medal of Honor Commemorative Coins2011 U.S. Army Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2011 United States Mint Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLSGRAND CANYON QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 MILLARD FILLMORE $1 COIN ROLLS2010 FRANKLIN PIERCE $1 COIN ROLLS2010 JAMES BUCHANAN $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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2012 Native American $1 Coin Reverse Design

In a recent press release, the United States Mint described the upcoming 2012 Native American $1 coin reverse design. The coin has had a new reverse design each year since 2009 to recognize Native Americans for their contributions to the development of the nation. The upcoming image will feature horses.

2012 Native American $1 Coin Reverse Design - Click Image to Enlarge It

"Trade Routes in the 17th Century" is the design's central theme. The profile of a horse and a Native American wearing a feathered headdress is in the foreground while three running horses are in the background. The image was designed by United States Mint AIP Master Designer Thomas Cleveland and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill.

Its obverse will be the familiar Sacagawea design used since 2000.

The new Native American dollar is expected out in early 2012. Like any coin, its circulation mintage will depend on demand, with a slight exception. Due to Public Law 110-82, the Native American design must be 20 percent of the total number of $1 coins minted, which includes the Presidential dollars, each year.

Previous design themes were an agricultural theme in 2009 representing the Three Sisters method of planting, Government -- The Great Tree of Peace in 2010, and Supreme Sachem Ousamequin, Massasoit of the Great Wampanoag Nation Creates Alliance with Settlers at Plymouth Bay (1621) in 2011.

For more details about the 2012 Native American $1 coin reverse design, the United States Mint press release follows.

WASHINGTON - The United States Mint announced today the new reverse (tails side) design that Americans will see on the 2012 Native American $1 Coin. The theme for the design is "Trade Routes in the 17th Century."

In keeping with the coin's theme, the 2012 reverse design features a Native American and horse in profile, with horses running in the background, representing the historical spread of the horse. The design includes the required inscriptions UNITED STATES OF AMERICA and $1. The reverse was designed by United States Mint Artistic Infusion Program Master Designer Thomas Cleveland and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill.

The obverse (heads side) design of the Native American $1 Coin will continue to feature the familiar "Sacagawea" design by sculptor Glenda Goodacre that has appeared on the coin since 2000. Inscriptions on the obverse are LIBERTY and IN GOD WE TRUST. The coins are minted in the distinctive golden color with the year, mint mark and E PLURIBUS UNUM incused on the edge.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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Spectacular Anglo-Saxon Gold Treasure Discovery On Display

Most amateur treasure hunters searching for buried treasure with a metal detector would be delighted to find an occasional dated silver coin.  The discovery of buried gold treasure, however, remains only a dream for the vast majority of treasure seekers.

Imagine the excitement of a British treasure hunter who unearthed one of the most exquisite and extensive collection of gold artifacts ever discovered.   Searching on a Staffordshire farm in July of 2009, Terry Herbert stumbled across a treasure hoard of 3,500 artifacts, of which many were masterfully crafted out of gold.

It will never be ascertained who buried the fabulous treasure that came to be known as the "Staffordshire Hoard".  The English countryside where the treasure was discovered has a long and violent history of warfare by numerous conquerors and barbarian tribes.  In any event, those who buried the treasure approximately 1300 years ago never retrieved it, bequeathing to history a fabulous array of ancient artifacts.

The vast majority of the exquisitely crafted items discovered were made for military use or adornment.  The treasure hoard contained no gold or silver coins.

The estimated value of the Staffordshire Hoard is estimated at $5.3 million.  The treasure hoard consisted of 11 pounds of gold which accounted for three quarters of the treasure's total weight.

The Staffordshire Hoard is owned by the Birmingham Museums and Art Gallery, which will preserve the magnificent treasure for future generations.

The November issue of National Geographic has an extensive photo display of the Staffordshire Hoard, several of which are featured below.

Courtesy National Geographic, Photo by robertclarkphoto.com

Beyond the historical and cultural value of the Staffordshire Hoard, a large percent of the treasure's value can be ascribed to the value of the gold content which held value for approximately 13 centuries.  The cold ground of the English countryside preserved a treasure for future generations.  Anyone care to ponder on what the value of U.S. dollars buried in the ground today would be worth in the year 3311??

Courtesy nationalgeographic.com, Helmet re-creation

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2011 Proof Set Ready for 1 Million in Sales

As the holidays draw near, demand for several United States Mint annual sets increases. That was certainly the trend in the latest sales, especially for the 2011 Proof set. It dominated with more sales than the next three top selling products put together.

2011 Proof Set

In one week, customers brought the 2011 Proof Set up by 20,997. Now at 973,878 in sales, the proof set is poised to pass the one million milestone, if it hasn't already. The second and third top sellers for the United States Mint were the 2011 Silver Proof Set with 7,306 orders and the 2011 Mint Set with 6,808 orders. All three sets performed better than the prior round for the second straight week.

Demand also grew for the 2011 Uncirculated Silver Eagles. 5,142 were purchased, making it the fourth best seller. Previously, 2,784 Eagles sold. The latest sales addition pushed the Eagles' total to the brink of a major milestone, which will most likely be crossed in next week's report. The current total reached 199,848.

In bullion news, the United States Mint's best seller slowed down. November's total for the American Silver Eagles rung in at 1,384,000 and was recorded as the slowest month so far in the year. It was also the slowest month for the one ounce Gold Eagle that had just 38,500 in sales.

All available sales on United States Mint products are below. The first three columns of the table below provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, November 28, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Wednesday, November 30. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins2011 Medal of Honor Commemorative Coins2011 U.S. Army Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetCHICKASAW QUARTER QUARTER BAGS & ROLLSVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLS2011 JAMES GARFIELD $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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Bearish Outlook On Gold Signals Buying Opportunity

Despite the fact that gold has outperformed virtually every other asset class for the past decade, the September correction in gold prices has caused market sentiment to turn decidedly bearish.  As measured by the London closing fix price, gold reached an all time high of $1,895 on September 5th.   Within the next three weeks, gold had plunged by almost $300 per ounce, closing at $1,598 on September 26th.

Did September mark a turning point in the decade long gold rally, as many have suggested, or is it a buying opportunity?  A review of the factors contributing to the September sell off suggest that from a contrarian and fundamental point of view, the groundwork is being laid for a move to new highs in gold.

Extreme volatility in global equity markets due to the European debt crisis resulted in losses and subsequent margin calls for many leveraged investors who indiscriminately liquidated whatever they owned, including gold investments.

In mid November, SEC documents disclosed that Paulson & Co., the hedge fund run by legendary investor John Paulson had liquidated 11.2 million shares of the SPDR Gold Trust (GLD) during the quarter ending September 30th.  Paulson's exact motives in selling the GLD remain unknown, but is was reported that huge losses in his hedge funds had resulted in the forced selling of SPDR Gold Trust shares.

Besides helping to drive down the price of gold, investors may view Paulson's large sale as a bearish signal from an investor who has an incredibly successful long term track record.  Paulson, however, still remains the largest shareholder in the SPDR Gold Trust with a position of 20.3 million shares at September 30th.  In addition, Paulson reportedly remains long term bullish on gold and may have large positions in physical gold through allocated bullion accounts.

In addition to the factors mentioned above, gold may simply have gotten ahead of the fundamentals.  Every long term bull market experiences episodes of sharp price corrections and consolidation.  Over the past decade, with a brief exception in 2008, gold has found solid support at the 200 day moving average.  In April 2009, July 2010 and February 2011, gold experienced a sustained multi-month rally after correcting down to the 200 day moving average.  Currently, a retreat to the 200 day moving average would bring gold down to the $1,600 level.

Gold - courtesy stockcharts.com

Mark Hulbert, of the Hulbert Gold Newsletter, who tracks investor sentiment on gold says that the bearish sentiment on gold is reaching extreme levels.  Hulbert says "According to contrarian analysis, this is building a strong foundation for a fresh assault on gold’s recent all-time high above $1,900 an ounce.  This doesn’t guarantee that gold will rise from here, of course, or that it will do so right away. But it does mean that contrarian analysis is currently on the side of the bulls".

Patient long term investors in gold have been well rewarded.  Despite the September correction, gold prices have advanced by $364 per ounce in 2011, for a gain of 26%.

View the original article here

Four Debuting US Mint Coin Products Beat by Proof Set Sales

Four new coin products launched and boosted sales all around in the latest report of United States Mint sales figures. The clear winner, however, was not any of the new products. Instead, it was the 2011 Proof Set with 24,348 orders.

The Olympic 5 oz. coin was one of four coin products to debut last week

It is not uncommon for sales to spike in the first week of December. After all, it is the gift buying season for United States Mint products. So the jolt for the 2011 Proof Set was no surprise. Total sales reached 998,226, or 1,774 short of hitting the major milestone of one million.

Of the products debuting in this round, two ranked in the United States Mint's top five best sellers for the week. All of the new items are listed below by highest to lowest in sales.

The 2011 quarters circulated set certainly started with better numbers than the previous 2010 issue, which opened with 5,684 in sales in November last year. The same could not be said for the Olympic coin, however. The prior America the Beautiful 5 oz Silver Uncirculated Coin, honoring Glacier National Park, opened with 10,680 in October.

Perhaps a lower starting price is what made the Lucretia Garfield First Spouse Gold Coins launch with higher opening numbers than the Lucy Hayes coins. When the Hayes coins were released in September, collectors gobbled up 1,265 proofs and 857 uncirculated versions, but prices were also higher by $25 each.

All available sales on United States Mint products are below. The first three columns of the table below provide weekly United States Mint sales increases between the listed time periods, offering a sense of recent trends. The final column provides the latest United States Mint sales totals as of Monday, December 5, 2011. Bullion coin tables are found toward the bottom, with the most recent sales as of Tuesday, December 6. (NLA = No Longer Available.)

25th Anniversary Silver Eagle Set2011 Uncirculated Silver Eagles2011 American Eagle Platinum Proof2011 American Gold Eagle Uncirculated2011 American Gold Eagle Proof Coins2011 Medal of Honor Commemorative Coins2011 U.S. Army Commemorative Coins2011 American Buffalo Gold Proof2010 American Buffalo Gold ProofMary Lincoln Uncirculated (2010)Eliza Johnson Uncirculated (2011)Julia Grant Uncirculated (2011)Lucy Hayes Uncirculated (2011)Lucretia Garfield Proof (2011)Lucretia Garfield Uncirculated (2011)2011 America The Beautiful Quarters Silver Proof Set™2011 America The Beautiful Quarters Proof Set™2011 Presidential $1 Coin Proof Set™2011 United States Mint Silver Proof Set2010 United States Mint Proof Set2010 America the Beautiful Quarters Proof Set2010 U.S. Mint Silver Proof Set™2010 Presidential $1 Coin Proof Set™2010 America The Beautiful Quarters Silver Proof Set™2011 United States Mint Uncirculated Set2010 United States Mint Uncirculated Set2011 Presidential Uncirculated Dollar Set™2010 Presidential Uncirculated Dollar Set™AMERICA THE BEAUTIFUL 5 OZ SILVER UNCIRCULATED COINSGettysburg National Military Park2011 America the Beautiful Quarters Uncirculated Set2010 America the Beautiful Quarters Uncirculated Set2011 America the Beautiful Quarters "Circulated" Set2010 America the Beautiful Quarters "Circulated" SetAMERICA THE BEAUTIFUL 3-Coin SetCHICKASAW QUARTER QUARTER BAGS & ROLLSVICKSBURG QUARTER QUARTER BAGS & ROLLSOLYMPIC QUARTER QUARTER BAGS & ROLLSGLACIER QUARTER QUARTER BAGS & ROLLSGETTYSBURG QUARTER QUARTER BAGS & ROLLSMOUNT HOOD QUARTER QUARTER BAGS & ROLLS2009 ZACHARY TAYLOR $1 COIN ROLLS2010 ABRAHAM LINCOLN $1 COIN ROLLS2011 ANDREW JOHNSON $1 COIN ROLLS2011 ULYSSES S. GRANT $1 COIN ROLLS2011 RUTHERFORD B. HAYES $1 COIN ROLLS2011 JAMES GARFIELD $1 COIN ROLLSPRESIDENTIAL $1 COIN & FIRST SPOUSE MEDAL SETS™2011 KENNEDY HALF-DOLLAR BAGS & ROLLS2010 KENNEDY HALF-DOLLAR BAGS & ROLLS2011 NATIVE AMERICAN GOLDEN DOLLAR ROLLS2010 NATIVE AMERICAN GOLDEN DOLLAR ROLLSUS MINT SALES: 2011 BULLION COINSAmerica the Beautiful Silver Bullion Coins

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Gold Bullion Coin Sales Plunge 63% In November and 20% YTD – Have Americans Given Up On Gold?

Total sales of American Gold Eagle bullion coins plunged in November according to production figures from the U.S. Mint.

Total sales of gold U.S. Mint bullion coins declined by 63.4% in November from the previous year.  Sales of U.S. Mint gold bullion coins declined by 19.5% on a year to date basis through the end of November.  A total of 41,000 ounces were sold in November 2011 compared to sales of 112,000 ounces in November 2010.  Year to date sales through November totaled 934,500 ounces compared to the previous year to date totals of 1,160,500 ounces.

The reduction in the purchase of U.S. Mint gold bullion coins continues a trend of reduced sales since the record breaking year of 2009 when a total of 1,435,000 ounces were sold.  Total gold bullion sales  for 2011 will probably slip below one million ounces for the first time since 2009.  If sales decline in December by the same percentage amount as in November, total 2011 sales of gold bullion coins will come in at 956,500 ounces.

A summary of gold mint bullion coin sales since 2000 is shown below.

Gold Bullion Sales Since 2000

Gold Bullion U.S. Mint Sales Since 2000

Why would gold bullion coin sales be plunging when gold has been steadily rising?  Have Americans given up on gold?  Let's look at various trends in gold sales to get some perspective.

-Annual sales of gold bullion exceeded a half million ounces only once before 2008.  The financial crash of 2008 precipitated concerns about the integrity of both the banking system and the U.S. dollar, causing a huge increase in demand for physical gold.  Gold bullion sales exploded higher in 2008 and sales for 2011 remain far above levels seen prior to 2008 despite the recent drop in sales.

-Based on the current price of gold, the total value of all gold bullion purchased from the U.S. Mint since 2000 is $12.6 billion.  This amount represents only a fraction of the amount of investment dollars that have flowed into gold over the past decade.  In addition to purchasing physical gold, investors now have the option to purchase gold through gold trust ETFs.  The amount of money poured into the gold trust ETFs is many multitudes greater than the investment in physical gold bullion coins.  For example, since their inception in 2005, the combined gold holdings of the SPDR Gold Shares Trust (GLD) and the iShares Gold Trust (IAU) have grown to 47.2 million ounces valued at $82.5 billion.

-Gold ETFs have grown exponentially from their inception a short six years ago but the largest gold ETF, the SPDR Gold Shares Trust (GLD), has not been able to exceed its record gold holdings of 1,320.47 tonnes reached on June 29, 2010.  In addition, billionaire John Paulson recently liquidated a substantial portion of his GLD holdings, although much of the selling may have been forced due to severe losses in his hedge funds.

-Gold trader sentiment is either bullish or bearish, depending on who you talk to.

-Central banks, which have been increasing their purchases of gold since 2000, have sharply accelerated their purchases of gold bullion over the past several years.  Central banks from Asia and Latin America have accounted for most of the increased purchases.

-According to the World Gold Council, global gold investment demand increased by 33% in the 2011 third quarter compared to the prior year.  Investment demand for gold bars and coins increased by 29% and global gold holdings by gold trust ETFs increased by almost 78 tonnes.  Demand for gold increased notably during the third quarter in Europe and China.

While it is indisputable that global gold demand has increased, the appetite for gold by U.S. investors seems to be diminishing.  What do you think?

View the original article here

Ron Paul Calls Central Bank Intervention A “Form of World Wide Quantitative Easing”

Central banks, spear headed by the U.S. Federal Reserve, launched a massive joint effort to provide liquidity to a European banking system that was teetering on the verge of collapse.

The six central banks involved in the emergency lending program were the U.S. Federal Reserve, the Bank of Japan, the Swiss National Bank, the Bank of England, the Bank of Canada and the European Central Bank.  The central bank actions provided European banks with cheap access to  funding through U.S. dollar swap lines.  Under dollar swaps, the U.S. Federal Reserve supplies dollars to foreign central banks which in turn lend the dollars to banks that need U.S. dollars to meet funding needs denominated in U.S. dollars.

In a joint statement, the six central banks said "The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity."  As one European bank after another appeared to be on the verge of collapse, the calls for central bank intervention to "save the world" had become deafening.  Today, the central banks obliged, effectively endorsing the theory that more debt is the solution to the debt crisis.

In an early day interview on CNBC, Ron Paul gave his take on the massive central bank intervention, calling it "a form of worldwide quantitative easing."

Ron Paul also noted that the central bank actions "penalize the American people" and that the Federal Reserve actions will simply result in "more debt and more inflation."

Ron Paul said the Fed is doing the same thing that it has done for the past 40 years.  "Spending excessively, running up debt, printing up money, and manipulating interest rates.  We're up against the wall now, it doesn't work anymore. Lowering interest rates is essentially impossible.   That's what they're desperately trying to do today.  But, you know, when our interest rates to the banks are down to zero, what are they going to do next?  Used to be that Congress would just spend more money and that would help.  How can they spend more money when there's no more money in the Treasury?"

The answer to Ron Paul's last question is obvious and should deeply concern every American.  Funding needs of the Treasury will continue to be supplied by the Federal Reserve with printed money and the U.S. currency will continue to lose value.  The rising price of gold has reflected the systematic destruction of our currency.  Based on the predictable response of central banks worldwide to print their way out of the debt disaster, there is effectively no upside limit to the price of gold.

View the original article here

US Mint Issues 2011 America the Beautiful Quarters Circulating Coin Set

Tuesday, November 29, 2011, the United States Mint issued the 2011 America the Beautiful Quarters Circulating Coin Set. Its price is $9.95, which is identical to last year's release.

United States Mint image of the newly issued 2011 America the Beautiful Quarters Circulating Coin Set

The set of 2011 quarters is the second of its kind in the America the Beautiful Quarters® program. It includes 10 of this year's quarter dollars, two strikes of each design. One of each design is produced at the United States Mint manufacturing facilities located in Philadelphia and Denver. Although the coins are business quality, they have never entered circulation.

The five designs of the 2011 coins depict a scene emblematic of Gettysburg National Military Park, Glacier National Park, Olympic National Park, Vicksburg National Military Park, and Chickasaw National Recreation Area.

The coins are mounted on a card that allows easy access. This set provides collectors with an economical opportunity to add each of this year's issues to a collection or coin album without having to break up one of the U.S. Mint's larger or more expensive sets that may contain other coin denominations.

Once available, hobbyists may place an order via the Mint's online store at http://www.usmint.gov/catalog or call 1-800-USA-MINT (872-6468).

For reference, the U.S. Mint press release announcing the 2011 America the Beautiful Quarters Circulating Coin Set follows.

WASHINGTON - The United States Mint will begin accepting orders for the 2011 America the Beautiful Quarters Circulating Coin Set at noon Eastern Time (ET) on November 29, 2011. The 10-coin set, priced at $9.95, contains the 2011 America the Beautiful Quarters® Program coins in circulating quality - one of each quarter from the United States Mint facilities at Philadelphia and Denver.

The packaging allows the coins to be easily removed and placed into the America the Beautiful Quarters Coin Album™ or other storage option. 

Orders will be accepted at http://www.usmint.gov/catalog, or at 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers may order by calling 1-888-321-MINT (6468). A shipping and handling fee of $4.95 per order will be added to all domestic orders.

The America the Beautiful Quarters Circulating Coin Set is also available for purchase through the United States Mint Online Subscription Program. For additional information about this convenient ordering option, visit http://www.usmint.gov/catalog.

Note:  To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of November 29, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored.  For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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US Mint Silver and Gold Bullion November 2011 Coin Sales

Sales were slow for US Mint silver and gold bullion coins in November compared to earlier months in 2011. Levels retreated for all but one offering, the smallest coin.

American Silver Eagles, with sales 1.384 million coins, ended with their lowest sales level since July 2008 while American Gold Eagles plunged in November with sales of 41,000 ounces, their lowest since June 2008. The contrast between how the bullion coins performed against the previous month of October was extreme. Silver Eagle sales in November plunged 54.8% from October while Gold Eagles dropped 18% over the same time.

Silver Eagle bullion coins stopped a little shy of 38 million by ending the eleven month period at 37.8595 million. Earlier in the year it looked like the silver coins would overtake 40 million in annual sales, but now it is not so sure.

Eleven-month sales for the 22-karat Gold Eagle bullion coins reached 934,500 ounces. The level is not bad, but it is still very far behind 2010's annual sales of 1.22205 million ounces.

A detailed look on how both series of coins performed in November versus past months in 2011 follows:

2011 American Gold Eagle Bullion Coin Sales Totals(See this CoinNews.net sales article for more analysis.)

2011 American Silver Eagle Bullion Coin Sales Totals
(See this Silver Coins Today sales article for more analysis.)

(As a side note, Silver Eagle sales picked up in early December, with another milestone as the coins crossed 38 million by December 5.)

As for other gold bullion coins sales for the month of November, the 24-karat Gold Buffalo tacked on 8,500. The bullion coins have been sliding since August's 28,000 jolt, and reaching the 209,000 coins sold in 2010 appears slim. Those declines and how they have performed since their introduction in 2006 may be compared in the following table:

American Gold Buffalo Bullion Coin Sales Totals (2006-2011)

Also in the US Mint's bullion arsenal in 2011 are the five bullion 2011 America the Beautiful Silver Coins. The first two five-ounce silver bullion coins have sold out earlier this year, hitting their maximum published mintages of 126,700 each. Those were the coins honoring Gettysburg National Military Park in Pennsylvania and Glacier National Park in Montana. The third one, for Olympic National Park in Washington stands at 83,300 and was released in May while the fourth, the Vicksburg National Military Park bullion coin for Mississippi, is at 32,500, after being released in June. The final 2011-dated five ounce bullion coin honoring Chickasaw National Recreation Area in Oklahoma launched in July and hit 24,700 in sales as of Monday, December 5, 2011. Cumulative sales total 393,900.

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US Mint Releases Garfield Presidential $1 Coin

The United States Mint and the National Park Service ceremoniously released the James Garfield Presidential $1 Coin Thursday morning at Lawnfield, the James A. Garfield National Historic Site in Mentor, Ohio, east of Cleveland.

James Garfield Presidential Dollar

In attendance at the dollar ceremony were Marc Landry, US Mint Acting Associate Director for Manufacturing; Dr. Allan Peskin, Cleveland State University Professor Emeritus of History; Rudolph Garfield, President Garfield's great-grandson, as well as government and local dignitaries.

The official launch ceremony ended with the traditional coin exchange hosted by a local bank, Cardinal Community Credit Union of Mentor, allowing attendees to buy rolls of the new dollar at face value. Children in attendance received a free Garfield Presidential dollar, the 20th dollar issued in the United States Mint's Presidential $1 Coin series.

Below is a press release from the United States Mint that summarizes the James Garfield Presidential $1 Coin Ceremony on November 17, 2011.

MENTOR, Ohio - Admirers of former U.S. President James Garfield gathered today for the United States Mint's official launch of the Presidential $1 Coin struck in his honor. The ceremony was held at the James A. Garfield National Historic Site - location of the 20th President's family home - two days prior to the 180th anniversary of Garfield's birth.

"The Presidential $1 Coin series connects Americans to inspiring life stories like President Garfield's," said United States Mint Acting Associate Director for Manufacturing Marc Landry.  "He was the last President born in a log cabin, fatherless by the age of two, drove canal boat teams to earn money for college, became a classics professor and college president, rose to brigadier general in the Civil War, and enjoyed a long, distinguished career in the U.S. Congress."

In addition to Landry, speakers at the event included Rudolph Garfield, a great-grandson of President Garfield, and Dr. Allan Peskin, professor emeritus of history at the Cleveland State University.  Peskin, who served as the event's keynote speaker, is the author of "Garfield," the definitive biography of James Garfield. 

Those who attended the event were among the first in the Nation to get the new James Garfield Presidential $1 Coin, which was released into circulation today. Following the ceremony, many of those in attendance exchanged their currency for 25-coin rolls of the new coin.

The James Garfield Presidential $1 Coin is the 20th released in the United States Mint's Presidential $1 Coin Program, authorized by the Presidential $1 Coin Act of 2005 (Public Law 109-145). The coin's obverse (heads side) bears a bold portrait of former President Garfield, designed and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill, with the inscriptions JAMES GARFIELD, IN GOD WE TRUST, 20TH PRESIDENT and 1881. 

The coin's reverse (tails side), by United States Mint Sculptor-Engraver Don Everhart, features a striking rendition of the iconic Statue of Liberty with the inscriptions $1 and UNITED STATES OF AMERICA. The inscriptions E PLURIBUS UNUM, 2011 and the mintmark ("P" or "D") are incused on the coin's edge.

James Garfield was born in Cuyahoga County, Ohio, in 1831.  He later graduated from Williams College in Massachusetts and returned to the Western Reserve Eclectic Institute (later Hiram College) in Ohio as a classics professor and then its president. He was elected to the Ohio state senate in 1859.  In 1862, he was elected to the U.S. House of Representatives, where he served 18 years.

At the 1880 Republican convention, Garfield won the nomination for President on the 36th ballot. On July 2, 1881, just four months into his term, an embittered attorney who had unsuccessfully sought a consular post, shot the President in a Washington railroad station. He lay wounded in the White House for weeks. Alexander Graham Bell, inventor of the telephone, tried in vain to find the bullet with an electrical device he had designed. On September 6, Garfield was taken to the New Jersey seaside and for a few days, he seemed to be recuperating. On September 19, 1881, however, he died from an infection and internal hemorrhage.

The United States Mint (www.usmint.gov), created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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