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Gold and Silver • Fake U.S Silver Eagle coins soaring through Hamilton
Fake U.S Silver Eagle coins soaring through Hamilton, police say
http://www.cbc.ca/hamilton/news/story/2 … -coin.html
Hamilton Police say they’ve gathered over 500 fake U.S Silver Eagle coins sold across the city over the past few months.
Hamilton coin collectors and pawn shops are getting duped.
Police are warning that fake U.S silver eagle dollar coins have been circulating in the city and have been sold to various establishments over the past few months.
"You wouldn’t be able to tell the difference (with) the naked eye. The coins are actually very high quality fakes," Const. Mike La Combe said in a Hamilton Police YouTube video. "They are silver and nickel-plated, which gives them the look of an actual silver dollar. However, when you cut them open, you can clearly see on the inside, they are brass filled."
The video shows some of the roughly 500 fakes that have been confiscated so far.
"They are worth practically nothing, just a couple cents each," La Combe explained.
LaCombe is a pawn unit investigator and says the coins are being bought online, then sold at "golden" times for the seller when shops are busy or with little staff. During the rush, employees may not have the time to do all the proper authenticity checks, giving criminals the chance to sell fast without getting caught.
"Only buy them from reputable dealers, a place that is established, an expert who works there who knows the difference between real and fake. Don’t buy them off the internet. and don’t buy them from people from the public who aren’t considered experts because more than likely you’re going to get a fake," added Le Combe.
Hamilton Police: real vs. fake
Real coins should all weigh the same, fake coins have varying weights.
Liberty female’s head is different on a fake coin compared to that of an authentic coin.
Stars on the reverse of the coins above the eagle and shield are further spaced apart on a fake, in contrast to a real coin.
Lettering on the fake coin is thinner and less-defined than the real coin
"Scratch" test-filling a part of the coin away to reveal the interior alloy of the coin will often expose the brass on the inside, confirming it is fake
Statistics: Posted by DIGGER DAN — Sun May 05, 2013 9:58 pm
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Gold and Silver • American Gold and Silver Eagle Bullion Coins Break Losing St
American Gold and Silver Eagle Bullion Coins Break Losing Streak
http://news.coinupdate.com/american-gol … reak-1680/
November 1, 2012 By Michael Zielinski
For the first time this year, the United States Mint’s American Gold and Silver Eagle bullion coins recorded higher monthly sales than the year ago period.
The economic turmoil and uncertainties experienced during 2008 led to renewed interest in precious metals investment. This situation led to problems for the United States Mint, which was unable to produce an adequate supply of bullion coins to meet public demand. The often dubbed "unprecedented demand" led to temporary sales suspensions and prolonged periods of allocation, during which available supplies were rationed amongst authorized purchasers.
Despite the suspensions and rationing, sales of the American Silver Eagle bullion coins reached an all time annual sales record of 19,583,500 coins in 2008. This was followed by successive record breaking annual sales totals in 2009, 2010, and 2011, when annual sales reached 39,868,500 coins.
Demand finally seemed to slow during 2012, with monthly sales levels for both Gold and Silver Eagles falling below year ago levels for each month from January to September. The streak was finally broken with the sales figures for October 2012, which narrowly surpassed the sales figures from October 2011.
2011 vs. 2012 American Gold Eagle Sales
2011 vs. 2012 American Silver Eagle Sales
For October 2012, sales of American Gold Eagle bullion coins accounted for 59,000 ounces. Although this was down from the prior month when 68,500 ounces were sold, it was up from the year ago period when sales were 50,000 ounces.
For the year to date, Gold Eagle sales have now reached 540,500 troy ounces. This is tracking about 40% below the pace of sales from last year.
American Silver Eagle monthly sales reached 3,153,000 ounces. Once again this was a decline from the previous month when 3,255,000 ounces were sold, however it was up from the year ago period when sales reached 3,064,000.
For the year to date, Silver Eagle sales have reached 28,948,000 ounces. This is down by about 21% from sales for the comparable period of last year.
October 2012 US Mint Bullion Coin Sales
October 2012
YTD 2012
American Gold Eagle 1 oz
54,000
464,500
American Gold Eagle 1/2 oz
2,000
63,000
American Gold Eagle 1/4 oz
4,000
66,000
American Gold Eagle 1/10 oz
30,000
280,000
American Gold Buffalo 1 oz
11,000
107,500
American Silver Eagle 1 oz
3,153,000
28,948,000
America the Beautiful Silver 5 oz
22,100
96,400
The United States Mint also offers the 24 karat American Gold Buffalo bullion coins. Sales reached 11,000 of one ounce coins for the month, bringing the year to date total to 107,500.
The America the Beautiful Five Ounce Silver Bullion Coins reached monthly sales of 22,100 coins, accounting for 110,500 troy ounces of silver. The latest design for the series featuring Denali National Park was released on October 22 and contributed more than half of the monthly sales.
For the year to date, ATB silver bullion program sales include 10,800 of the 2011-dated coins, 18,100 of the 2012 El Yunque National Forest coins, 18,200 of the Chaco Culture National Historical Pare coins, 21,800 of the Acadia National Park coins, 15,000 of the Hawai’i Volcanoes coins, and 12,500 of the Denali National Park coins.
Statistics: Posted by DIGGER DAN — Fri Nov 02, 2012 12:13 pm
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Gold and Silver • American Eagle gold bullion sales more than double in May
American Eagle gold bullion sales more than double in May
While both American Eagle gold and silver bullion coins May sales were up substantially from April, they still lag far below 2011 bullion sales.
Author: Dorothy Kosich
Posted: Monday , 04 Jun 2012
RENO (MINEWEB) –
The U.S. Mint’s sales of American Eagle gold bullion coins in May rose 158% over the total number purchased in April.
Sales of American Eagle silver bullion coins rose 89% during the same period.
The increased sales for both precious metal bullion coins were attributed to a decline in metals prices.
The U.S. Mint reported 49,000 American Eagle gold bullion coins were sold during May, up 158% from the April sales total of 19,000 gold bullion coins. However, May 2012 gold bullion sales were down 46.7% from the 93,500 in American Eagle gold bullion coins sold in May 2011.
American Eagle silver bullion sales for May 2012 were reported at 2,875,000 coins, up nearly 89% from 1,520,000 silver bullions coins sold in April 2012. However, May 2012 gold bullion sales declined 68% from 3,653,500 American Eagle silver bullion coins sold in May 2011.
The benchmark gold price fell for the fourth straight month in May 2012, the longest slump since 2000 while silver declined for the third consecutive month as of May.
Statistics: Posted by DIGGER DAN — Tue Jun 05, 2012 12:42 am
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