Oh, what a difference a week makes. Bad news and pessimism are replaced by hope and optimism with most feeling that the European Central Bank will ease their money supply to lift the Spanish banks. It would be impolite to say bailout.
On June 6, the DOW rose 269 points, gold held steady after being higher in the morning and silver along with platinum rallied. Gold is rising and is up 3.5 percent since my last report and silver has gained over 5 percent with platinum tagging in at plus 4 percent.
U.S. gold type coins are more active, while premiums are still low. There is indication of increased interest and premiums nudging slightly higher. Certified gem coins with CAC stickers are in strong demand with big premiums, but supplies are so limited that it has little bearing on the overall market. MS-63 Saint-Gaudens have gained a few percentage points in relation to melt values.
Proof type coins are active in both Liberty nickels and Barber coinage at the lower end of the grading scale, meaning the choice grades rather than Gem levels.
The overall U.S. type coin market remains steady with increased continued activity in 3-cent silver pieces, mid-grade Seated halves and especially Barber halves.
This past week we attended the Long Beach Expo and activity was about normal for this time of year with a slight upbeat trend.