Will December Be THE Golden Month Of 2012?

If the momentum of November gold sales continues into December, it will be the golden month of 2012. After January 2012 when 256,500 gold eagles were produced consuming 127,000 ounces of gold, eagle production  dropped off significantly through the summer and fall months – until November. The totals for November came in at 136,500 ounces of gold used to produce 173,500 gold eagles. The November total for 24 karat gold buffaloes stands at 16,500.

You will notice a drop of 83,000 in number of gold eagles produced in November compared to January. The difference is due to the large production drop off of half-ounce and quarter ounce eagles in favor of one-ounce gold eagles and, to a lesser extent, tenth-ounce eagles. Here are those numbers…

one-ounce eagles…….January 84,500;…November 129,500
half-ounce eagles…….January 49,000;…November     5,000
quarter-ounce eagles..January 38,000;…November     4,000
tenth-ounce eagles…..January 85,000;….November   35,000 

Year-to-date Gold Eagle totals (677,000 troy ounces of gold)

one-ounce eagles……594,000
half-ounce eagles……..68,000
quarter-ounce eagles…70,000
tenth-ounce eagles….315,000

Silver eagles are also enjoying great demand. The November total came in at 3,159,500 which is third behind January (6,107,000) and September (3,255,000). With gold spot at $1712.60 and silver spot at $33.40, silver is definitely an attractive choice for those wanting to get into precious metals investing.

There is an informative chart of what gold and silver have done for most of 2012 over at zerohedge.com. You can see it here  

If your primary investing interest is in the silver market read on…

The Last US 90 Percent Silver Coins

Back when I was selling gold and silver for a large precious metals dealer in the midwest, it was not unusual to receive calls from individuals who had inherited a number of coins for which they hadn’t the slightest idea of their worth and wanted help. With the large variety of old US gold and silver coins, it is no wonder the average person is confused as to their value.

And again, I am aware of more than one situation where finders of old silver coins took them to their local bank to convert them into the only money they were familiar with – paper (fiat) money, thereby allowing the bank to cash in on the silver profits that should have rightfully been theirs. Too many people don’t understand the true value of pre-1965 US silver coins.

Finally, in my last encounter with a traveling buyer of gold and silver (who had set up shop at a local motel for 2 days), he mentioned that he was buying Morgan and Peace silver dollars for $15 apiece. The average person bringing in some silver dollars were probably thrilled with that price. The problem is who ever brought in silver dollars to this buyer should have been getting more like $21 or $22 each based on the spot silver price at the time. He was screwing them out of about $7 per coin.

So I decided to write a quick reference book to counter the lack of knowledge about pre-1965 silver coins. Titled “The Last US 90 Percent Silver Coins” it is now available on Amazon.com as an eBook for the various flavors of Kindle plus iPad, iPhone, PC, Mac, Android, BlackBerry or Windows Phone 7 with a free Kindle Reading App.

Priced at just $2.99 it has in-depth information on the Roosevelt Dime (1946-1964), Mercury Dime (1916-1945), Washington Quarter (1932-1964), Standing Liberty Quarter (1916-1930), 1964 Kennedy Half Dollar, Franklin half dollar (1948-1963), Walking Liberty half dollar (1916-1947), Peace Dollar (1921-1933) and Morgan Dollar (1878-1921). You will find it at Last US 90 Percent Silver Coins if you want to take a free look at the table of contents plus the first chapter to see if it is right for you.

Thanks for reading and keep the faith.

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