by John Foster. Email John.
Golden Roller coaster:
US economic news this week was good, but not as good as hoped, adding to concerns there might be more quantitative easing. Atlanta Federal Reserve President Dennis Lockhart said he feels differently. “The U.S. economy remains fragile, but things would have to get a lot worse for the Federal Reserve to launch another round of monetary stimulus.” The Federal Reserve released its “Beige Book” summary with positive news about the U.S. economy. The auto industry sales and growing manufacturing of tech goods are the main reasons for the upswing. The news was not all positive, however. A large portion of the report focused on high gasoline prices and effects on industry. “This confirms that it’s a strengthening economy, and that takes pressure off the Fed,” economist Eduardo Martinez said. This is the first positive Beige Book seen in a year’s time.
Worries about Spain:
The economic issues in Spain continue to worry experts. With a growing budget deficit and a 23 percent unemployment rate, the outlook is grim. But there are hopes for recovery. Spain’s prime minister has a plan to reduce debt and shore up the banks. There have been positive signals. Deutsche Bank economist Gilles Moec said, “We’ve seen more progress in a few days than in four months.” The Spanish troubles are even making waves in French politics. The ongoing debt crises in the eurozone are seen as a boost for French President Nicolas Sarkozy. Although he trailing in most polls, the growing uncertainty within the region is boosting his appeal after his work with German Chancellor Angela Merkel in handling the Greek debt issues. However, Sarkozy does trail challenger Francois Hollande in most polls. Sarkozy said, “If we return to spending without control, we will find ourselves in the same situation as Spain.” The main worry is that if Spain were to default, which other nations are starting to fear, then the $1 trillion already in the coffers will not be enough to protect the eurozone. Spain’s problems are viewed by some analysts as far worse than those of Greece.
From rockets to nukes:
The good news is that the North Korean long-range rocket launch failed Friday. The bad news is that this might propel North Korea toward a nuclear test. North Korea very rarely makes embarrassing public admissions, but it has admitted that its much-anticipated rocket launch was a failure. This was a particularly hard blow to that country’s new young leader. “The possibility of an additional long-range rocket launch or a nuclear test, as well as a military provocation to strengthen internal solidarity, is very high,” a senior South Korean defense ministry official told a parliamentary hearing.
The Chinese Panda series is among the world’s most popular series of bullion coins. And now you can own a certified-perfect example of the latest Silver issue in this highly sought-after series.
Each of these 1 oz, .999-fine Silver coins has been deemed worthy of the highest certification — Mint State 70 — by the Numismatic Guaranty Corp., one of America’s most-trusted coin grading services. In addition, each of these coins also received a special Early Releases label, which is only awarded to coins issued within the first 30 days of release.
The 2012 reverse depicts a panda adult and cub sitting in the grass in front of a stand of bamboo. It also shows the coin’s face value of 10 Yuan, the Silver weight of 1 oz, and the Silver purity of .999 fine. This coin’s obverse, as with all other Silver Panda issues, depicts the Hall of Prayer for Good Harvest at the Temple of Heaven in Beijing. It also bears the year of issue, 2012.
Mintage of the Silver Chinese Panda began in 1983, and the Silver coin is only available in a 1 troy ounce size. These gems from the Far East are admired for their value and striking beauty. In an effort to maintain public interest in the Pandas, the obverse design has been different each year with one exception: 2001 and 2002 Silver Pandas share the same design.
As worldwide demand grows for the Panda coins, counterfeiting has become an issue. By purchasing NGC-certified Chinese Pandas from a reputable dealer such as APMEX, you can be assured of the quality and authenticity of your Panda coins.