December 2008
SEASONS GREETINGS FROM TELESPHERE
NUMISMATICS!
With colder temperatures and a few good snowfalls here in Colorado, it
really feels like the holiday season is underway. To our readers
throughout the U.S. and around the world, we wish you a warm, safe and
joyous season. Happy Hanukkah, Merry
Christmas and a very Happy New Year!
2008 - A BRIEF NUMISMATIC REVIEW
Fueled in part by huge swings in commodities prices and a faltering
world economy, the market for bullion and collector coins and other
numismatic collectibles has seen one its most tumultuous years in
recent memory. In the early part of the year, gold reached all time
record highs (not adjusted for inflation) above $1000 per ounce. Silver
topped $20 per ounce for the first time since speculators drove
its price to unprecedented levels in the early 1980s, and an ounce of
platinum skyrocketed above $2000. Prices for base
metals (such as copper, nickel and zinc) also soared, driving the cost
of producing U.S. one and five cent coins to nearly double their face
value and forcing Congress to consider changes to their compositions.
A weakening economy and strengthening U.S. dollar later led to sharp
reductions in commodities prices. Lower fuel prices are a welcome
relief to consumers filling up their gas tanks. However, metals prices
that some perceive as bargains and
a desire to put assets in what have traditionally been considered safe
havens have severely strained the ability of many sellers to meet their
customers' demands for precious metals. Many holders of
bullion coins are reluctant to sell for the same reasons. For much of
the year, demand for bullion coins has exceeded the
capability of the United States Mint and other coin producers to
manufacture new coins, because adequate supplies of blanks are not
available. As a
result, premiums over bullion value are sharply higher for gold and
silver coins and other forms of bullion. For example, gold
American Eagles now routinely cost about $100 over spot gold, and bags
of so called "junk silver" trade at a hefty premium to the value of the
silver they contain.
As the year draws to a close, demand for many collector coins and
notably those considered
investor quality
remains robust (while opinions vary on the suitability of coins for
investment purposes, coins that have performed well as investments have
generally been those with low populations, particularly in higher
grades). Other more commonplace offerings, such as proof sets
issued during the 1970s and 1980s, are seeing diminished interest.
NEW QUARTER BILL PASSED BY CONGRESS
While the recent release of the Hawaii quarter completes the state
quarter series, more new quarter designs are on the way. America's
Beautiful National
Parks Quarter Dollar Coin Act of 2008 was passed by the Senate on
December 10. The bill was passed by the House of Representatives July
10. If signed by President Bush, the U.S. Mint will
issue one quarter dollar honoring a national park or other national
site in each State, territory and the District of Columbia at the rate
of five coins per year, beginning in 2010.
Legislation enacted earlier this year requires the Mint to issue
commemorative quarters during 2009 for the District of Columbia and
five U.S. territories: the Commonwealth of Puerto Rico, Guam,
American Samoa, the U.S. Virgin Islands and the Commonwealth of the
Northern Mariana Islands.
CURRENT SPECIAL
The distributor of Intercept Shield brand products has not delivered on
needed updates to its coin album line, including several updated albums
announced more than a year ago. Some of the existing albums are no
longer readily available. Therefore, Telesphere Numismatics has decided
to discontinue carrying the Intercept Shield line of coin albums. Our
remaining inventory is now discounted by 30% from suggested retail.
Please see our updated coin album page
for the sale prices. This offer is limited to our existing inventory of
Intercept Shield albums. In most cases just 1-4 of each album is
available.
We will continue to offer Intercept Shield individual 2x2 coin holders
and boxes for the foreseeable future. During early 2009 we'll also
evaluate other brands of coin albums to possibly offer to our valued
customers.
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Telesphere Numismatics
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