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NumisMedia Weekly
NumisMedia Weekly Market Report


Current News and Analysis of the

United States Rare Coin Market




September 20, 2010

Gold Headed to $1,300?


áááááLong Beach week is here and so far Gold is up above $1,280. The question is whether it will hold throughout the show. Dealers are hopeful that the metals remain positive because it will mean a big psychological lift for activity; increased activity means better profits. Silver has been very strong with lots of buyers for related bullion items. Silver Dollar bags and silver coins are popular, as well as silver bars. There is still lots of money pouring into numismatics, coming from savings accounts and the stock market.

áááááWith Gold surpassing its previous high of $1,261, the market for Modern Bullion coins is brisk. Gold Eagles are traded daily at most coin shops and supplies seem to be readily available. As long as supplies hold up, premiums should remain low. The 2009 UHR is commanding a lot of attention as several dealers are pushing prices higher. In this week's Moderns Wholesale Market Dealer Price Guide, the extremely rare Early Release Prooflike coins have advanced in MS69 and 70 to Market prices of $3,400 and $8,250, respectively. The $10 Spouse Gold, especially the 2008 coins, is very tough to find in MS70. Several dealers continually run buys for these coins as well as most of the MS69's.

áááááThe one ounce Proof Gold Eagles in the original government packaging have faltered somewhat. They are currently wholesaling for $1,575. The Proof Silver Eagles are trading at $54 among dealers. The new Proof Platinum $100 coins are creating some excitement. Dealers are willing to pay at least $2,050 for sealed delivered from Mint boxes. These are sold out at this time. The rest of the modern series, Lincoln Cents through the Presidential Dollars are rather quiet as buyers for most of these coins are bargain hunting for anything below the highest grades.





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