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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

October 27, 2008

Soaring Demand for Gold and Silver

     There are still Registry Collectors looking for the highest graded Modern Issues for their sets and are willing to pay top prices. However, there are many more sellers of Modern Issues today than there were a few months ago. More middle range collectors are strapped for cash and are now sellers rather than buyers. This creates a lot more inventory in the market and is reflected in this week’s Moderns Wholesale Market Dealer Price Guide. The number of declines in Lincoln Cents, Jefferson Nickels, Roosevelt Dimes and Washington Quarters is rising and demand is reduced to bargain hunting.

     In the past month since the last Moderns issue, Platinum has dropped over $240 leading to many declining prices in this week’s issue. But many analysts and investors feel there are buying opportunities available. While the economy downsizes, the value for Platinum has declined because it is primarily used for industrial purposes. However, when the economy turns around, Platinum should regain its stature as a powerful resource and investment. Despite all the declines for Platinum coins, there are a few increases for coins that grade MS or PR70.

     While Silver has fallen to the $9 mark, the demand for Silver Eagles continues to rise. Excess supplies from the last few months have been reduced to very limited physical supplies. We are seeing premiums of $5-$6 per ounce for the most common dates in any quantity. Even though the Silver contract price has fallen this past week, graded Silver Eagles are virtually unchanged with a few increases in the higher grades. Gold has also dropped this past week, but Eagles remain very active. Demand has forced premiums to increase with only small quantities being offered on the teletype systems among dealers. Coin shops are not finding many sellers so very little is coming through the doors lately.

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NumisMedia Weekly Archive

Current News and Analysis of the U.S.
Rare Coin Market