• seperator

Eagle shortage shows up again

Gold has been pushed to a record $1,183.20. Silver lags a bit but is $18.65 and platinum tests $1,470 even though oil has been a little soft just below $77 a barrel. While I remain bullish, take notice of all the hype about gold in the media. This is usually a sign that the party is nearing an end, or at least about to take a break.

In the meantime proof gold Eagles are trading at well over $2,000 on a per ounce basis and the Mint yesterday announced no more silver Eagles for at least two weeks because of excessive demand. So premiums on silver Eagles will undoubtedly increase especially with holiday demand and no silver proofs issued this year.

U.S. gold type coins continue to carry high premiums and again many have edged higher. Several earlier issues have also strengthened and there is certainly more activity in these early rare issues.

Type coin prices remain firm with a few of the higher grade Mint State items that were soft also firming up. Many dealers are experiencing new demand for better higher priced scarce material. My own experience confirms this. We have sold more coins over $5,000 in the past month than in the previous three months.

The Boston show was very active with better than normal attendance. It was interesting to see several of the high end national dealers there who are not normally present.

This entry was posted in Articles, General News, News. Bookmark the permalink.

Leave a Reply