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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

November 23, 2009

Silver and Gold on the Rise and in Demand

     With Gold moving higher on a weekly basis (now over $1,170), it seems like the average investor's focus has turned to Silver. Premiums are higher and bags of silver coins are becoming more difficult to acquire. Silver is quickly approaching $20 an ounce, currently over $18.50, and coin shops cannot keep enough supplies in stock. Silver Eagles, bars, and coins are attracting new buyers as they try to hedge against the falling value of holding onto cash. Bank interest rates are down and interest rates on credit cards are astronomical. Many consumers are cutting down on credit card purchases and taking advantage of upcoming holiday sales and spending available cash.

     Since our last HD Wholesale Market Dealer Price Guide, Gold has advanced over $130 an ounce. The result is that nearly all of the U.S. Gold series are showing strong advances in this week's guide. From Good all the way up to MS65, the Wholesale Market has increased and so has the demand. Premiums are higher for $10 and $20 Gold in all grades. MS65 Saints have increased from $2,150 in MS65 to the current Market of $2,600; the $20 Liberty moved to a higher $5,250 in MS65. Even the higher grades are getting difficult to locate. MS66 Saints are up to $3,325 from the previous $2,970 and $20 Lib's jumped to $14,750.

     All this pressure on U.S. Gold coins means that the rest of the market is somewhat ignored. Early Bust Halves, Seated and Barber Halves are steady at present levels and Early Type coins in general are not seeing much discounting as they were in the past six months. If prices can remain stable for the next 6 weeks in early collector coins, the FUN Show could produce some exciting activity as the year changes to 2010.

     Happy Thanksgiving to all!

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