Tag: Silver

Gold on Track for Best Week in Seven

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RPMEX: January 10, 2025

Gold prices are on course for their strongest week in seven, hitting a four-week high on Friday. This uptick is driven by growing safe-haven demand amid heightened uncertainty surrounding the policies of the incoming administration.

Recent economic data has revealed significant job growth in December, with nonfarm payrolls rising by 256,000, far exceeding expectations. This surge in jobs is a critical indicator for Federal Reserve policymakers, as they assess the need for future monetary policy adjustments. The minutes from the most recent Federal Reserve meeting raised concerns that the new administration’s policies could contribute to inflationary pressures, adding to the complexity of future policy decisions.

Despite the positive jobs report, the ADP Employment Report showed that private sector job additions were weaker than expected in December, with only 122,000 new positions, below the forecasted 136,000. Meanwhile, weekly jobless claims dropped to an 11-month low, signaling continued strength in the labor market.

Gold futures for February gained 0.7% on Thursday, closing at $2,690.80 an ounce, and have increased by 1.4% for the week. After a strong 2024, with a 27% rise—the largest annual gain since 2010—gold remains a sought-after asset. The current February contract is trading at $2,722.30 an ounce, while the spot price sits at $2,695.20. Gold’s performance in 2024 was fueled by monetary policies, economic conditions, and central bank activity globally.

The Federal Reserve has reduced its benchmark interest rates three times since September, most recently bringing them to a range of 4.25% to 4.50%. Higher interest rates typically place downward pressure on gold, as they increase the appeal of other interest-bearing investments. Currently, market expectations suggest that the Fed will maintain rates at the end of this month, with the majority of investors anticipating no changes.

Silver futures also showed strength, rising 1.1% on Thursday to $31.02 an ounce. The March contract has gained 3.2% in the first part of the week. Despite a decline in December, silver ended 2024 up 21%. The March contract is now priced at $31.35 an ounce, and the spot price is $30.52.

Palladium and platinum prices saw modest gains on Thursday. Palladium rose by 0.1% to $942.50 an ounce, while platinum increased by 0.4% to $967.10. These metals have faced challenges in recent months, with palladium down 17% in 2024 and platinum sliding by 8.4%.

Disclaimer: This editorial content is provided for informational purposes only and should not be construed as investment advice or a recommendation to engage in any specific financial transactions. The views expressed herein may not reflect the position of of RPMEX and or it’s affiliates. Always consult with a financial advisor before making any investment decisions, as market conditions can change unpredictably.

Multiple Texas Bills Look to Challenge Fiat Currency

Dean

Two Texas bills filed by state Rep. Mark Dorazio, HB1049 and HB1056, propose creating gold and silver-backed transactional currencies as legal tender in the state.

These bills would require the Texas Comptroller to issue these currencies through the Texas Bullion Depository, ensuring full backing by gold and silver. The bills aim to offer an alternative to the U.S. dollar, allowing for both physical and electronic transactions using gold and silver.

This will challenge the Federal Reserve’s monopoly on money by facilitating everyday use of sound money over fiat money, potentially driving Federal Reserve notes out of circulation.

We’ll be keeping an eye on both these bills as they make their way to the House committees on January 14th when the legislative session begins.

Capitol Building, Austin-Texas

1860-O Seated Liberty Dollar NGC MS65

Sirhc

Only 3 Graded Higher

A mintage of 515,000 silver dollars was achieved at the New Orleans Mint in 1860, most of which was earmarked for export. Some of the mintage was placed into circulation and any remaining dollars were delivered into storage. No one knows exactly how many coins were released from the Treasury during the 1962-1964 distribution, but David Bowers claims to never have seen an MS64 or MS65 example from the Treasury hoard. Most coins were low-grade Uncirculated examples — roughly handled during repeated shuffling and counting while stored, and heavily bagmarked as a result. Bruce Amspacher called the 1860-O date a “Quaker Oats dollar” because it looked like it was shot from guns. Relatively common in low Mint State grades, the 1860-O issue joins all other Seated Liberty dollars as rare in Gem condition and extremely rare any finer.

The NGC population is only 8 with 3 graded higher.

Listed at $37,200 in the CDN CPG and $30,000 in the NGC price guide.

Offered at $22,600

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1888 Seated Liberty Quarter NGC MS68

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Tied for Highest Graded

Only 10,000 business strike 1888 quarters were coined, and examples are seldom seen, though they are usually frosty and lustrous when they are encountered. Most pieces are found in or near Mint State grades, although almost never like the present specimen. This is a Superb Gem with ivory color at the center of the obverse, surrounded by russet, sea-green, and gold toning. The reverse is similar, with mostly rose color at the centers, framed by teal and gold. The pattern of toning is reminiscent of pieces from old time collections.

The NGC population is only 5 with none graded higher.

Listed at $17,750 in the NGC price guide.

Offered at $11,850

Private, Portable, Divisible Store of Wealth. We do business the old fashioned way, we speak with you.

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Scarce 1904-S Barber Half Dollar NGC MS62

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From a small business-strike mintage of 533,038 pieces, the 1904-S Barber half dollar is an underrated key and one of the most challenging issues of the series in high grade. Q. David Bowers notes the population data for this issue is inflated by resubmissions and crossovers and Mint State examples are much more elusive than those figures indicate.

The NGC population is 3 with 12 graded higher.

Listed at $17,500 in the PCGS price guide.

Offered at $14,625

Stunning 1902 Morgan Dollar NGC PR67+

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Proof 1902 silver dollars, as with all proof coins struck in that year, were produced with a no-contrast finish, as the Mint altered its die-making process for proof issues. As a result, proof 1902 dollars are extremely rare with any degree of cameo contrast. Collectors instead usually strive to acquire the finest possible non-Cameo for their collections. This particular example exhibits lovely original toning and a stunning overall appearance.

The NGC population is 2 with 6 graded higher.

Listed at $17,500 in the NGC price guide.

Offered at $12,375

Blazer of a 1935 Peace Dollar PCGS MS66+

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The 1935 is the last Peace dollar from the Philadelphia Mint. It is typically seen in MS65 and lower grades, although Premium Gems are collectible for patient specialists. This one exhibits highly lustrous, color-fee surfaces and excellent eye-appeal.

The PCGS population is 132 with 16 graded higher.

Listed at $12,000 in the PCGS price guide.

Offered at $5,300

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None Graded Higher – 1942 Walking Liberty Half Dollar NGC MS68

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The 1942 Walking Liberty half dollar, struck during the midst of World War II to the extent of more than 47 million pieces, is a common coin which can be found in circulated condition in bags of 90% silver to this day. That said, this issue is far from common in this exceptional state of preservation. The NGC population is just 13 with none graded higher. This one is delicately toned and pristine in its appearance.

Listed at $19,200 in the CDN CPG and $17,000 in the NGC population report.

Offered at $9,300

Price reflected is based on payment via ACH, Bank Wire or Check. Add 3.5% for Major CC & PayPal.

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Dazzling 1881 Trade Dollar NGC PR67 Cameo

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The Trade dollar was not produced in business-strike format after 1878, but the Philadelphia Mint coined a limited number of proof coins every year to satisfy collector demand. This led to a short-lived speculation in Trade dollars that crested early in 1880, leading to a series-record proof mintage of 1,987 pieces that year. By 1881, the demand had dropped off considerably, and only 960 proof Trade dollars were struck. In addition to the smaller mintage, the 1881 issue was plagued by poor workmanship, and most examples seen show areas of flatness on Liberty’s head and the upper stars, due to improper spacing of the dies. One of the reverse dies was lapped, resulting in a loss of detail in the eagle’s feathers. Few examples show the desirable Cameo effect. This particular survivor is color-free, with clear, deeply reflective mirrors and loads of eye-appeal.

The NGC population is 11 with 3 graded higher.  

Offered at $19,620 (ACH, Bank Wire, add 3.5% for Major CC & PayPal)

We do business the old fashioned way, we speak with you.

(800) 257.3253
8:30 AM – 5:00 PM CST M-F
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