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NumisMedia Weekly
NumisMedia Weekly Market Report


Current News and Analysis of the

United States Rare Coin Market




October 29, 2007

Gold Approaches $800


     Bullion is hot and all generic issues are advancing. In early commodity trading gold surpassed the $790 level on its way toward $800. It has since retreated to $787, but that is still up over $4.00 on the day. This has an extreme impact on all modern bullion issues. In this kind of market, most dealers are being very careful that they have a place to go with large bullion purchases because of the concern that prices could fall dramatically in a short period.

     Although rising bullion prices may be receiving the bulk of media publicity, you can bet that rare coins are still trading at even higher levels. This week’s Higher Denomination Wholesale Price Guide shows a variety of advances in several series. Bust Halves continue to show positive results of collector activity, along with some of the better dates in the Barber Half series.

     Early U. S. Gold remains very strong at current levels with dealers and collectors still looking for new material. As long as coins have eye appeal for the grade with no distracting marks, buyers will purchase all that comes into the market. Highest graded Deep Mirror Proof Like Dollars are on the rise with several buyers trying to attract potential sellers. The problem here is that once you become a collector of these coins, it is difficult to let go of them at any price.





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