Precious Metals

The current gold slump is a global trend: Coin World Buzz

U.S. Mint gold bullion sales were down in May 2015 from April 2015.

1. Gold trouble

The slumping gold market is not a trend unique to the United States, according to Bloomberg.

"Gold sales from Australia’s Perth Mint, which refines all the bullion output from the world’s second-biggest producer, tumbled in May to the lowest in three years," the Bloomberg report reads. "Global demand for jewelry, coins and bars fell 5 percent in the first quarter from a year earlier as shoppers in the Middle East and China reined in purchases, the World Gold Council said May 14."

2. Partrick postponed

“Because the family [of Donald G. Partrick] has no immediate use for additional funds, and Don continues to delight in his collection, they proposed an extension agreement,” said Heritage co-chairman James Halperin.

3. Making cents

Cents and 2-cent coins are being permanently retired in the Eastern Caribbean Currency Union.

4. Problems with the law

Laws that require merchants to gather extensive personal information from customers when making a transaction are causing problems for some businesses in the numismatic hobby.

5. Precious metals pricing listed the following prices per ounce as of 9:57 a.m. ET Wednesday:

6. Hot topics

Check out the three most-read stories of the last seven days:

  1. Collector discovers new variety for 1896 Indian Head cents
  2. Collectors discover doubled dies on America the Beautiful quarter dollars 
  3. U.S. Mint explains depletion of inventory of 2014-W Eleanor Roosevelt First Spouse gold

7. Something social

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