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$3 Gold Spark Interest

April 1, 2013

1882-CC $1 MS65 NGC      This week’s Moderns charts are mostly covered with declines as the metals backed off of previous levels. The downturn we have experienced over the last couple of months typically signals buying opportunities for investors. However, the overall economic picture reveals so many negatives at this time, buyers are electing to take a wait-and-see approach. Most analysts are still leaning toward higher metals in the not too distant future. With Gold just under $1,600 an ounce, the one ounce Proof Gold Eagles are wholesaling at $1,780. Proof Silver Eagles are steady at $60 in the OGP. The premiums on Silver bags have increased slightly in the last month but with Silver at $28 an ounce, bags are just under $20,000 at this time. Silver Dollars remain very active even if they are down a bit, now at $31,350 a bag of one thousand for VG’s.

     While the majority of traffic on the Teletype systems is bullion related, when nice collector coins are offered at current levels, they will usually sell rather quickly. An area that will attract buyers in most markets is the $3 Gold series. A look at the FMV shows numerous increases for many of the better dates in AU58 through MS63. Many of these coins have low mintages and the census reports indicate low availability. The FMV is higher for the dates listed below in MS63.

1856 S - $31,880 - MS63
1858 - $28,130 - MS63
1861 - $15,940 - MS63
1865 - $27,500 - MS63
1877 - $57,190 - MS63

     Morgan Dollars are in strong demand at current levels. There are hundreds of buyers all over the country looking for better dates in most grades including MS63 to MS67. If the coin has the + designation or CAC sticker then it has a much better chance to sell to any number of buyers. The 1882 CC in MS67 recently rose to $7,060 FMV; the 1892 advanced to $4,340 in MS65; and the 1892 CC increased to $8,910 in MS65. Most dealers expect this to be a very competitive market for the next few months.

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