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Price set to fall?

Yesterday wasn’t pretty on the world’s financial markets. Who isn’t a little worried about today?

After seeing the Dow Jones Industrial Average drop 391 points, gold $66 and silver nearly $4, or roughly 10 percent, it is no wonder we all feel a little skittish today.

What will I do?

I think I will change the subject.

When I was checking pages yesterday for the weekly Numismatic News edition, I saw an ad that offered for sale examples of the 2011 silver American Eagles that were struck at San Francisco but do not have the San Francisco mintmark on them. They are in a slab that identifies the “S” mint as the source.

The price was pretty high, though the grade was equally high at MS-70.

What will collectors five or 10 years from now make of these?

This question is complicated by the fact that the Mint will soon issue a special 25th anniversary set of American Eagles that will include a real, live 2011-S coin.

Will the pending release of a San Francisco American Eagle with the mintmark end up stomping all over the coins that are from San Francisco but have no mintmark?

That’s the question I would be asking if I owned one of the mintmarkless pieces.

The answer, my gut tells me, is they will.

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2 Responses to Price set to fall?

  1. shoebox911 says:

    If folks got skittish yesterday about a $66 drop in the price of gold, I wonder how they will feel at day’s end today with gold virtually in a free fall. At 12:21 p.m. CDT, we’re looking at a $105 decline and the day is far from over. I think this price correction has been in the works for weeks now given gold’s stellar performance the last couple of years. Personally, I think the price has more than peaked and another major correction may not be too far off. $2000 gold? I don’t think so…

  2. hrlaser says:

    And yet, by a ratio of about 2:1, the people who answered last week’s poll over there on the right side of the page (which has been replaced by a new poll), thought that Gold would hit $2000.00 an ounce, by the end of 2011.. makes me wonder what they were smoking.. however, it’s only the last week of September, so who knows.. Gold hit an all-time high of just a squinch over $1900.00 an ounce barely three weeks ago.. as I type this, it’s at $1642.00 an ounce.. a $260.00 an ounce collapse in under three weeks.. and yet, Platinum is doing even worse, and even at its current price, Gold is still higher than Platinum.. (which probably has to do with the lack of demand for the white metal for catalytic converts, due to lack of new car sales.. but I sure wouldn’t think new cars aren’t selling, from all those I see on the road.. and yet, a lot of them are probably leased, which is absolutely THE worst way to own a car.. but I digress 😉 ..

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