Well, the precious metals market trend has certainly turned down. Over the past several days both gold and silver have declined approximately 3 percent and platinum lost 4 percent bringing its ratio to gold the lowest ever.
The turmoil in Europe with the Greek and French elections bringing the anti-austere into power has shaken worldwide financial markets and caused a flight to the almighty dollar. Along with this oil has dropped with increased fear of a Euro zone recession. This would certainly also affect China and then ultimately us.
This has noticeably put a further damper on U.S. gold type coins. I have seen dealers bid for MS-63 Saints as low as 5-6 percent over spot melt value
Obviously some people are losing faith in the market. Personally, I am not but I sure know how “Nervous Nelly” felt! There have been a number of positive price movements in pre-1835 U.S. gold type coins. This indicates a continuing flight to quality as some have gained over 10 percent in recent trading. In a twist of fate, the 1911-D quarter eagle has declined in mint state, while the same date half eagle has moved up strongly in circulated grades.
Non-gold U.S. type coins are generally strong with some notable movement in 18th and early 19th century issues, but the buyers are fussy when it comes to quality. It should be noted that the great majority of these come with damage, repairs and light or harsh cleaning.