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Metals Rebounding and Reaching Forward

February 6, 2017

     Gold has surpassed the $1,200 mark a few times recently only to fall back again; but this morning it has climbed to $1,227 an ounce. And, with each rebound, Gold has been reaching for new highs, which is good news to the bull side of the market. As Gold rises so does the one ounce Proof Gold Eagle, now up to $1,435 in the OGP. Silver is up slightly so far today at $17.60 and Proof Silver Eagles are steady at $51.

     In this week’s Moderns Wholesale Market Dealer Price Guide, both positive and negative adjustments can be found in several series. The majority of changes in Modern Lincoln Cents are to the downside. The 1935 S in MS66 Red is down to $320 Market and the 1945 in MS67 Red is lower at $185. Also declining are the 1950 S in MS67 Red and the 1952 D in MS67 Red, both now at $260 Market.

Graph Lincoln Cent 1935 S MS66 Red

     Proof Jefferson Nickels are showing weakness as well with numerous declines in the 1938 to 1963 date range. The 1951 PR67 Deep Cameo fell to $3,575 Market while the 1955 PR68 Deep Cameo dropped to $520. Even some of the late date PR70’s are lower as discounting continues for excess inventory. Most of the dates from 1977 S to 1984 S are declining.

     Early Washington Quarters are mixed although there are still more declines than increases. The 1934 D in MS65 fell to $420 and the 1937 S in MS64 is down to $220 Market. On the upside is the 1935 S in MS67, now at $1,100, and the 1936 in MS66 advanced to $120. A few of the Proof issues in the 1970’s declined; the 1974 S PR70 Deep Cameo dropped to $1,200 and the 1981 S TII in PR70 Deep Cameo is lower at $360.

     The Modern Bullion charts contain an enormous amount of increases this week with Gold, Silver, and Platinum on the rise. Common date $50 Gold in MS69 is up to $1,240 Market and the lower denominations are higher as well. Still, there are many PR70 & MS70 dates that are lower; resistance to the previous levels is evident and these highest grade coins need to be discounted to entice buyers. The 1987 $50 Gold in MS70 is down to $2,350 Market and the 1989 $25 Gold in MS70 is lower at $7,850.








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