The Pobjoy Mint on July 18 announced that, due to trademark infringement, it would remove the legend containing the word BRITANNIA on its 2017 Reverse Proof .999 fine silver 1-ounce bullion coins minted for the Falkland Islands, but 7,329 coins of the initial version have been issued.
Precious metals market analysts and traders who recently participated in a Reuters poll don’t believe silver will perform as well during 2017 as projected earlier in the calendar year. A recent poll suggests the average price of silver will be $17.32 per troy ounce.
Texas is the latest entity to begin efforts being undertaken by various government bodies globally to repatriate physical gold held elsewhere and direct the metal’s future. Texas expects to move more than $861.4 million in gold from Federal Reserve Bank of New York vaults to Texas’ first state-administered bullion depository, set to open in Austin in 2018.
Gold and silver production at Coeur Mining’s Palmarejo, Mexico, mining complex yielded higher amounts of the precious metals during the second quarter in 2017 compared to the same period in 2016.
A new guide for silver bullion buyers is available. Sebastian Wieschowski, a numismatic journalist and collector in Germany, has authored Bullion Book: Silver Coins for Collectors and Investors.
Black market sales of gold bullion and jewelry in India are anticipated to rise after the nation’s Goods and Services Tax was established July 1, at a higher rate than the taxes it replaces, according to an analysis by the World Gold Council.
Sales by the U.S. Mint of American Eagle silver bullion coins during the first six months of calendar year 2017 are lagging behind the same period in 2016 by 53 percent. The Mint’s 2017 sales through June 30 total 12,233,500 of the 1-ounce silver coins, compared with 26,250,500 of the coins for the first six months of 2016.
Silver investment by American buyers is expected to drop sharply in 2017 to its lowest point this decade, according to Metals Focus, The Independent Precious Metals Consultancy. During 2017, the consultancy predicts retail investment in the U.S. may drop 20 percent from 2016, to an estimated 78 million ounces.
Sales tax exemptions for numismatic coins and precious-metal bullion were eliminated in Louisiana in 2016, and while some tax relief has been restored, each affected group must demonstrate that the state will be better off financially if the group regains its exemption.
A new silver bullion coin offers a close look at a hefty animal, and when it comes to size, the coin is no slouch either. The 2017 Water Buffalo silver 50-franc coin is issued by the Democratic Republic of the Congo in conjunction with the Scottsdale Mint. At 100 grams, it appears to be the world’s first silver bullion coin of this size.