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Premiums high for old gold coins

Gold and silver have been active over the past few weeks. Silver has been moving very well and with realistic premiums. Gold bullion issues are also much more in line with their normal historical premium percentages.

On the other hand, bullion related older us gold coins are experiencing the greatest surge in premiums this writer has ever seen. This has occurred because many believe that our government could once again require a turn in of all gold bullion as it did in the early 1930s.

The premium on MS-62 $20 Saints is now nearly $600 when $75 to $150 was more normal. The same goes for the other grades, as well as the Liberty series, which is even slightly higher. Eagles and Half Eagles are seeing similar premium issues.

Meanwhile, gold has tested the $1,000 range and has failed on profit taking. Only time will tell how long it will take for a significant breakout above $1,000.

Morgan and Peace dollars remain moderately active across the board. Modern silver proof sets have been showing some life lately, while the market continues to pound nearly all of the higher priced prestige proof sets. Mint sets are quiet with not a single price change over the past two weeks.

 E-mail harrymkrause@optonline.net.

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