Archive for October 2011
Happy Halloween!
Hope you get all treats and no tricks! Happy Halloween from The|Coinologist!
Mint Maxed Out Orders On 25th Anniversary Set
The U.S. Mint servers were having a hard time keeping up when the gates opened at noon ET yesterday. The American Eagle 25th Anniversary Silver Coin Set has gone on wait list status. This is what appears on the site now:
“Waiting List Notice: The number of orders we have taken meets the maximum limit for the 2011 American Eagle 25th Anniversary Silver Coin Set. You may still place an order for this product, which will go on a waiting list. If a product becomes available due to an order cancellation, we will fulfill orders from the waiting list on a first-in, first-served basis. We cannot provide information about your position on the waiting list.
When we place your order on the waiting list, we will send you an order receipt. This is not a guarantee that you will receive your order. If we are not able to fulfill your order, you will receive a cancellation or sold-out notification. If you paid by check, you will receive a refund.”
This set was almost a sure thing to sell out. Now we can sit back and see what the secondary market does to the price of these beautiful coins.
Image: U.S. Mint
Fort Knox | Gold Bullion Depository & Asset of the United States
Fun Facts About Fort Knox
- On June 28th, 1935, President Franklin Delano Roosevelt authorized construction of the federal bullion depository at Fort Knox, Kentucky.
- Amount of present gold holdings: 147.3 million ounces.
- The only gold removed has been very small quantities used to test the purity of gold during regularly scheduled audits. Except for these samples, no gold has been transferred to or from the Depository for many years.
- The gold is held as an asset of the United States at book value of $42.22 per ounce.
- The Depository opened in 1937; the first gold was moved to the depository in January that year.
- Highest gold holdings this century: 649.6 million ounces (December 31, 1941).
- Size of a standard gold bar: 7 inches x 3 and 5/8 inches x 1 and 3/4 inches.
- Weight of a standard gold bar: approximately 400 ounces or 27.5 pounds.
- Construction of the depository:
Building materials used included 16,000 cubic feet of granite, 4,200 cubic yards of concrete, 750 tons of reinforcing steel, and 670 tons of structural steel.
The cost of construction was $560,000 and the building was completed in December 1936.
- In the past, the Depository has stored the Declaration of Independence, the U.S. Constitution, the Articles of Confederation, Lincoln’s Gettysburg address, three volumes of the Gutenberg Bible, and Lincoln’s second inaugural address.
- In addition to gold bullion, the Mint has stored valuable items for other government agencies. The Magna Carta was once stored there. The crown, sword, scepter, orb, and cape of St. Stephen, King of Hungary also were stored at the Depository, before being returned to the government of Hungary in 1978.
- The Depository is a classified facility. No visitors are permitted, and no exceptions are made.
- Special thanks to the U.S. Mint and Facts ‘O Fun.
- For other Coinologist U.S. Mint posts click here!
2011 America the Beautiful Five Ounce Silver Uncirculated Coin | Glacier National Park
Visitors to Glacier National Park can explore 700 miles of trails that wind through forests, alpine meadows, mountains, and around lakes. Celebrate the beauty of this national treasure with this spectacular five-ounce, three-inch silver coin. The coin’s reverse depicts a classic view of the northeast slope of Mount Reynolds towering in the distance, while a mountain goat climbs over the rocky slopes of the park’s high country. The obverse features the classic 1932 portrait of George Washington by John Flanagan, restored to bring out subtle details and the beauty of the original model. This uncirculated quality coin is a treasure that will be cherished for years to come! Add it to your collection today!.
Image/Text: U.S.Mint
Hauser & Miller Refiners
Here’s an American company that has made the 100 year club. Hauser & Miller located in St. Louis, MO, has been refining precious metals since 1909. “Fair, competitive, and fast returns have marked our philosophy for over 100 years. Our reputation in the industry is unrivaled.” They work with precious metals and are masters at fabricating many different metals. These are the places that you should be taking your scrap gold or silver to, not the “We Buy Gold” guy on the corner!
U.S. Mint Sets Price at $299.95 for American Silver Eagle 25th Anniversary Set
To commemorate the 25th Anniversary of the American Eagle Silver Coin Program, the United States Mint is proud to present this unique limited-edition set of five one-ounce American Eagle Silver Coins. This special American Eagle Silver Five-Coin Set is an exquisite collection that captures the essence and beauty of these cherished coins – in stunning proof, reverse proof, uncirculated and bullion qualities minted by the Department of the Treasury, United States Mint facilities at West Point, San Francisco and Philadelphia. The set contains one each of the following 2011 dated coins:
- American Eagle Silver Uncirculated Coin – mint mark: “W” (West Point)
- American Eagle Silver Proof Coin – mint mark: “W” (West Point)
- American Eagle Silver Reverse Proof Coin – mint mark: “P” (Philadelphia)
- American Eagle Silver Bullion Coin – no mint mark
- American Eagle Silver Uncirculated Coin – mint mark: “S” (San Francisco)
All five coins are encapsulated and packaged in a single custom-designed, highly polished, lacquered hardwood presentation case and accompanied by a Certificate of Authenticity.
2011 American Eagle 25th Anniversary Silver Coin Set – Product Limit: 100,000
This product will be available for sale
on October 27, 2011 at 12:00 Noon (ET).
Image/Text: U.S.Mint
Plan On Attending The…
It’s time to start thinking about the F.U.N. show coming up this January. I attended last years show and it was great. This year it has moved back to Orlando, I’m sure by popular demand. For more information and some FUN topics click here!
Image: Florida United Numismatists Inc.
America the Beautiful Quarters Three-Coin Set | Vicksburg National Military Park
Surrender at Vicksburg, Miss., on July 4, 1863, coupled with the fall of Port Hudson, La., and Robert E. Lee’s loss at Gettysburg, Pa., signaled the beginning of the end of the Confederacy and the Civil War. With the fall of Vicksburg, Maj. General Ulysses S. Grant accomplished one of the most successful military victories in history. The set includes one uncirculated Vicksburg National Military Park quarter each from the United States Mint at Philadelphia and Denver, as well as a proof quarter from the United States Mint at San Francisco. Order today and learn about the history of Vicksburg!.
Image/Text: U.S. Mint
Gold Refining | The Miller Process
Miller Process
-
The Miller industrial process refines scrap metal with an unknown but measurable content of gold into gold with a purity of 98 to 99 percent. The Miller process begins when scrap metal is melted into chunks small enough to put into crucibles, using a furnace and some form of granulator. Granulators make the gold chips look like corn flakes, with a high surface area, so that during the chemical process all gold is thoroughly treated. The gold flakes are put into a crucible, which is heated until the metal becomes molten, and then aerated with chlorine gas. The chlorine gas reacts with all metal that isn’t gold, so that the chlorides created can be separated from the gold, creating a fine product.
Gold Refining | The Wohlwill Process
Wohlwill Process and High Purity Levels
-
The Wohlwill process produces gold of a purity greater than 99.99 percent. The Wohlwill process involves electrolysis, in which an ingot of more than 95 percent gold is suspended in chloroauric acid. The ingot is called the anode; the cathodes, 24 karat gold strips, are also floating in the chamber. Electric current is run through the chloroauric acid, and the acid and electrolysis dissolve the anode and collect pure gold on the cathodes. These cathodes are taken out and melted down into fine gold. Often industry locations use first the Miller process followed by the Wohlwill process, although the Wohlwill process is more expensive, requires more equipment and requires high gold inventories.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/quotes_special.gif)
