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 Telesphere Numismatics

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 Classic U.S. coins and more

June 2006

TELESPHERE NAMED A TOP 10 WEB SITE

In the July 2006 issue of CoinAge magazine, author Mike Thorne presents his picks for ten coin related web sites worth visiting for their information and educational features.  We're pleased to announce that Telesphere Numismatics has been selected as #2 (behind only the U.S. Mint site).

CoinAge magazine is a monthly publication of Miller Magazines, Inc. and is sold by subscription, at many newstands and in the magazine section at some supermarkets.

METALS PRICES PLUMMET, STABILIZE A BIT

Last month, we reported on the recent surge in prices for precious metals, such as gold and silver, and for base metals, like copper and zinc.  Metals prices have retreated considerably during the last several weeks.  Gold fell more than 20% below the 25 year high established during May, and silver dropped about 30% from its recent peak.  Both recovered a modest amount of their recent losses in mid-June and are still about 10% higher than at the beginning of the year.

Meanwhile, Rep. Jim Kolbe (R-Arizona) has announced that he intends to re-introduce legislation to eliminate production of the penny, with cash transactions to be rounded to the nearest 5 cents (non-cash transactions would still be paid to the cent).  At current prices for zinc and copper, it costs about 1.5 cents to produce each coin, even without taking into account the cost of transporting struck coins or using them in everyday commerce.  "Most people still think the penny has no purpose and we should get rid of it," said Rep. Kolbe.  Similar legislation introduced by Kolbe in 2001, when the production cost of the coin was slightly less than its face value, garnered little support from other members of Congress and was not enacted.

CURRENT SPECIAL

2006-S and selected other recent proof coins are now on sale.  Please visit our Current Special page for sale prices and ordering information.

COLORADO QUARTERS

The U.S. Mint began shipping Colorado quarters to the Federal Reserve Banks on June 14.  It typically takes 2-3 weeks from the release of each state quarter until we have both P & D mintmark coins in stock.  If you're interested in acquiring singles or rolls of these coins, please check our web site for availability in early July.

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