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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

November 28, 2011

Gold Advances Sharply

     Over the last couple of weeks the metals have fallen dramatically, creating buying opportunities for those investors who still have a strong belief that the metals will move to much higher ground. This morning, Gold is up over $35, currently at $1,715.50. Proof Gold Eagles are trading at $1,820 per ounce in the original box. Silver is $32.10 and 90% Silver bags are $22,825. The 2011 25th Anniversary Silver Eagle Sets have wholesaled as high as $850 but so many have hit the market that the price is currently at $750 for unopened sets. Complete five coin sets of MS/PR70's are trading between $1,600 and $1,750. This is a very fluid market with prices fluctuating daily.

     Dealers are trying to do as much as possible to entice collectors to purchase coins for the holidays. Many have begun year-end sales with advantageous discounts. Generally speaking, common coins after the 1930's are trading at slight discounts. The exceptions are for the highest graded coins in a series with very low populations. Coins dated prior to 1900 are showing decent demand at current levels although dealers offering discounts are meeting with more success. In this week's HD Wholesale Market Dealer Price Guide, the majority of collector coins are stable with few downward adjustments. Bust, Seated, and Barber Halves are attracting lots of buyers, especially when the coins have eye appeal for the grade. Walking Liberty Halves are steady for dates prior to 1934; 1935 to 1947 are a little soft for the grades MS64 to MS66.

     Common date Morgan Dollars have drifted slightly lower in the last month for grades MS63 to MS67. Inventory is still available in the market with not much new demand showing up at this time. The Market for MS63 Morgan Dollars is $52 and MS64's are at $75. Peace Dollars have dropped to $49 and $57 in MS63 & MS64, respectively. The Gold charts are showing mixed results over the last few weeks with smaller denomination common date coins moving higher in the circulated grades and lower in Mint State grades. Higher denomination coins are mostly lower from the circulated grades through MS65.

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