Gold Sets Tone for Strong Week
Gold bullion went through the $1,100 barrier like a
warm knife through butter. It is trading firmly in the mid teens after briefly
crossing the $1,120 mark. Ho hum, another record price. Silver and platinum
have followed along, but in a somewhat lackluster fashion. There is some
reasonable belief that when silver came down from the $21 level a year ago
March that many bought in the $17 to 18 level and are happy to get out even
whenever the metal trades there. Once these weak holders are taken out, many
believe silver will jump ahead.
How is this affecting coins? Proof gold Eagles are
nearing the $2,000 per ounce range at retail and the silver version in the $55+
area. Type U.S. gold is still strong and there seems to be increased positive
activity in rarer date gold as well. Over half of the prices in the
accompanying price chart have risen with a few negatives in the higher MS
grades. The $20 Liberty premium has increased again, but remember cleaned coins
will bring 10 percent or so less in the circulated grades. To my mind these are
probably a decent buy if not harshly cleaned and have decent eye appeal.
In regular type coins there are some increases in
early copper again and there is strong demand for MS half cents. Several Seated
issues are on the rise with strong activity in older proof type coins as well.
Source: numismaster.com