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Metals drop; Morgans show gains

Precious metals continue sliding. This does not bode well for the upcoming Florida United Numismatists show in Orlando in early January.

Gold is testing recent lows, down 3 percent from last week’s writing and silver is down over 5 percent while platinum is holding at around a 2 percent decline. There is a lot of apprehension in the air and yet nothing has gotten better in the worldwide financial system.

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Morgan dollars have done well with several Redfield dates moving up in Mint State. Along with them the 1880 and 1885 Carson City issues have gained in MS-60. The 1892 Philly and New Orleans coins have also gained in MS-60. These two are very difficult to grade because of flat striking characteristics but are very desirable dates to own. Even more interesting is the 1881-O in MS-64, which has regained some lost ground. This one I could never figure out why it had dropped, because it is a really difficult coin to find nice. If you need the date, now is a good time to hunt. Two 1878 issues have also shown positive activity in MS-60. They are the 7/8 tail feather issue and the more common second reverse 7-tail-feathers design. The sleeper is the third reverse, or reverse of 1879, which is far scarcer and only listed at about 10 percent more in MS-60-62.

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Proof sets have done better over the holiday period with only two minor declines. Mint sets have not fared as well with a handful of minor declines.

Email: harrymkrause@optonline.net.

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