Written by the Treasure Guide for the exclusive use of the Treasure Beaches Report.
 |
| South Beach Zoom View on the SurfGuru.com Beach Cam. |
We are definitely moving out of summer beach conditions. Take a look at the above clip from the Fort Pierce South Jetty Beach Cam. Look at the right side of the clip and you'll see that the cut has expanded down around the bend to the south. Nice little cut.
Of course, this is a vulnerable area of the beach and will cut more quickly than most other beach areas, but it does show the early effects of the every so slightly bigger surf and more northerly winds along with the higher Fall tides we've been haveing in contrast to SE winds we got so much of this summer. It is just an early sign of the seasons from one of the more vulnerable areas that will show some of the earliest effects of surf changes.
There will undoubtedly be a few other areas where you'll see some small cuts.
There could be more coming too.
 |
| Source: nhc.noaa.gov. |
A tropical depression or storm is likely to form in the next day or two. I'll be watching that one.
For next week, the surf won't be much bigger yet. A two to three foot surf is predicted for most of the week. The high tides remain fairly high.
 |
| Markings on Gold Filled Earring. |
---
In today’s market, it is possible to purchase circulated Pre-1934 U.S. Gold Coins such as the $10.00 Liberty, $5.00 Liberty, and $5.00 Indian at a lower cost per ounce of gold content than it would cost to acquire the comparable-sized $25.00 ½ Ounce and $10.00 ¼ Ounce Gold American Eagle bullion coins. Other circulated issues, such as the $20.00 Liberty, $20.00 Saint Gaudens, and $10.00 Indians, are available for not much more than the cost per ounce for the $50.00 1 Ounce and $25.00 ½ Ounce Gold American Eagles
How can it happen that supposedly numismatic coins are selling at a lower or close to the same premium as bullion coins?The answer comes down to supply and demand. Demand for older U.S. gold coins is much smaller than it is for modern bullion coins. As the spot price of gold has increased more than 75% from the end of 2023 to this week, in America, there has been a significant increase in the number of sellers liquidating their holdings compared to the number of buyers wanting to purchase such products.
Note that demand right now for bullion-priced physical gold almost everywhere else around the world is keeping pace or exceeding how much is being liquidated by owners. However, these foreign buyers have comparatively little interest in Pre-1934 U.S. Gold Coins.
Here is the link for the rest of tha article.
Why Are Premiums on Pre-1934 U.S. Gold Coins Now So Low? - Numismatic News
Here is the bottom line. It seems like gold spot prices have been hitting new record highs on nearly every day. The demand for gold bullion is higher than the demand for pre-1934 U.S. gold coins. As a result, the old coins bring little to no premium over bullion gold.
---
---
Below is the Act of April 10, 1806, which regulated the legal tender value of foregign coins in the United States.
Coins in the U.S.Act of April 10, 1806
Regulating the legal-tender value of foreign coins in the United States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That from and after the passage of this act, foreign gold and silver coins shall pass current as money within the United States, and be a legal tender for the payment of all debts and demands, at the several and respective rates following, and not otherwise, viz: The gold coins of Great Britain and Portugal, of their present standard, at the rate of one hundred coins, for every twenty-seven grains of the actual weight thereof; the gold coins of France, Spain, and the dominions of Spain, of their present standard, at the rate of one hundred cents, for every twenty-seven grains and two-fifths of a grain, of the actual weight thereof. Spanish milled dollars, at the rate of one hundred cents for each, the actual weight whereof shall not be less than seventeen pennyweights and seven grains, and in proportion for the parts of a dollar. Crowns of France at the rate of one hundred and ten cents, for each crown, the actual weight whereof shall not be less than eighteen pennyweights and seventeen grains, and in proportion for the parts of a crown. And it shall be the duty of the Secretary of the Treasury, to cause assays of the foreign gold and silver coins made current by the act, to be had at the Mint of the United States, at least once in every year, and to make report of the result thereof to Congress, for the purpose of enabling them to make such alterations in this act, as may become requisite, from the real standard value of such foreign coins. And it shall be the duty of the Secretary of the Treasury, to cause assays of the foreign gold and silver coins of the description made current by this act, which shall issue subsequently to the passage of this act, and shall circulate in the United States, at the Mint afore-said, at least once in every year, and to make report of the result thereof to Congress, for the purpose of enabling Congress to make such coins current, if they shall deem the same to be proper, at their real standard value.
SEC. 2. Repeals 1st section of act of February 9, 1793, and suspends operation of second section of same act for three years from April 10, 1806.
Here is that link.
1806 Foreign Coins Legislation