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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

February 1, 2010

Gold Rebounds as Long Beach Week Begins

     Dealers have already begun to arrive in Southern California for this week's Long Beach Convention and auctions. So far wholesaling appears to be better than the last show in September. This could be helpful because the last couple of weeks have seen some market weakness, mostly due to lower bullion prices. The demand has not been consistent for U.S. Gold coins and dealer inventories are excessive for the time being.

     Gold has jumped over $20 an ounce in early trading Monday. It is now over $1,100 an ounce once again and if it holds throughout the week, it would give quite a boost to Long Beach. The latest Moderns Wholesale Market Dealer Price Guide mails this week and the Gold price was figured at $1,085 for the relative Modern Bullion coins. The previous issue had Gold at $1,135, so there are many declines in this issue. In addition, the Proof Gold Eagles fell further, now trading wholesale near the $1,475 level for one-ounce coins with original government packaging.

     One bright note this week, the Proof Lincoln Cents lists several increases for dates 1916 and earlier. These coins are generally in demand and typically bring prices in excess of the Wholesale Market levels. The 1909 VDB moved to a higher $27,500 in PR65 Red; in PR66, the Market advanced to $39,500. Market for the 1916 in PR65 Red increased to $9,450. There are also several increases for the Deep Cameo Proof Jefferson Nickels 1950 - 1952. These are very difficult coins to locate and only occasionally do we find updated information on them.

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