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To: ms.smartest.person who wrote (3046)	3/18/2008 9:14:02 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

Precious Metals, World Coin Connection By Tom Michael March 18, 2008 numismaster.com High precious metal prices usually make for strange happenings in the world coin market. One such occurrence cropped up in Ethiopia near the end of 2007 and has been unfolding over the last few months. Some schemers ripped off the National Bank of Ethiopia to the tune of 26.8 million dollars through a plot involving gold plated steel bars. While the problems experienced by the NBE are massive, there will be many smaller and less criminal difficulties arising from expansion of precious metals as a commodity investment. The main one which will surely begin effecting the world coin market this year and reverberate for many years to come will be the melting of silver, gold and platinum coins. With spot prices over $20, $1000 and $2000 for silver, gold and platinum respectively, we are starting to see more price resistance for commemorative coin issues and exonumia of various sorts. Of course dealers no longer have to sell to collectors. They now have the viable option of gathering pure gold and pure or sterling silver coins, rounds, marked badges, medals and other exonumia and selling them to bullion dealers for melting. Many people at the collecting level are already working on culling out duplicates and less desirable material for sale to bullion dealers. At shows, bullion dealers are busy buying, on TV we are beginning to see those adds for selling your old jewelry and it will all be melted and gone before too long. For the coin market this will mean that mintage figures on some coins will no longer be an accurate reflection of either availability or rarity. To collectors I would say, if you notice a common modern silver or gold commemorative or circulating coin you would like to add to your collection, go ahead and acquire it while it is available, as it may become harder to find in the near future.