Once again I seem to be hypnotized by the dance of the price of gold today.
It teases by going over $1,600 a troy ounce and the retreats below it.
I just looked at the Kitco website and it is $1,599.90.
Whatever you think of the banking crisis in Cyprus, events there certainly have done little to motivate buyers or sellers of bullion.
In four weeks I will be attending the Central States Numismatic Society convention.
That event two years ago was a bullion extravaganza. Silver and gold were shooting higher and higher. Silver neared the $50 mark before it ran out of gas just below the record price of 1980.
Gold very nearly reached $1,600 during the show.
It was wild.
What a difference two years make.
Bullion is still important, but the upcoming CSNS show is likely to be a collector-oriented show as hobbyists once again pursue their dreams with the full backing of their financial means.
Hesitation is less in evidence.
Perhaps we will see the full return of the average collector.
As I have written before, I do not know where the price of 2012 proof sets will end up, but the fact that they have become a hot topic is a sign that collectors of every budget are getting back into the numismatic pool.
They are less hypnotized by the price of bullion. Their actions are directed by their personal goals.
That’s a prerequisite of a healthy market. That’s what I will be looking for at Central States.
Buzz blogger Dave Harper is editor of the weekly newspaper “Numismatic News.”