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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

May 9, 2011

Wild Swings in Metals

     Last week was a little disconcerting for buyers of metals. The trend went from a record high only to fall back dramatically in a very short time. Gold had a swing of over $50 an ounce and finished the week just under $1,490. Silver was climbing toward $50 an ounce ten days ago only to bottom out and finished the week under $35. The metals appear to be in a recovery mode as the week begins with Gold at $1,508.70 and Silver advancing to $37.36.

     Proof Gold and Silver Eagles have been very volatile this past week. As of this morning, Proof Gold Eagles are wholesaling at the $1,700 mark and Silver Eagles are at $78; these must be in the original government package. With the ups and downs of metals, dealers have become very tentative with their offers to buy and sell.

     There are numerous adjustments in this week's Moderns Wholesale Market Dealer Price Guide with most of the common silver related series headed lower. Nonetheless, the early Proof Lincoln Cents show another round of increases. The 1909 PR65 is now up to $1,550 in Red & Brown, as is the 1915 in the same grade. The 1916 in R&B is up to $4,425 in PR65 and $6,250 in PR66.

     Even though the metals retreated from recent highs, the price of Gold and Silver is still higher since our last Moderns issue. The Modern Eagles chart has many increases for Silver and Gold Eagles. Common $50 Gold Eagles wholesale at $1,550 in MS70 and $1,600 in PR70. PR69 Silver Eagles are up to $68 while MS69 certified coins are $45.

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