I have returned from the Las Vegas and Baltimore shows and can report that public attendance has risen at both. Collectors were seeking items across the board from half cents to dollars. Gold did seem a little slow, but in the end sales were normal there as well.
One dealer said that “the market is recovering.” I didn’t know it had fallen. This is a rotating market within the context of a very weak and troublesome economy and quite frankly an amazing market in that context. Probably a good comparison to how some people view it is the saying; “when your neighbor loses his job it’s a recession and when you lose yours it’s a depression.”
Gold is again trending down on dollar strength. Silver is fighting that trend although down from our last report and platinum is stubbornly doing nothing. Proof gold and silver Eagles are up with dealer bids on the silver issues reaching a new high. Gold proofs have recovered about 40 percent of the major drop in premiums that hit just after Christmas.
Morgan dollars are in demand for generic circulated through slider quality for promotional programs. The more difficult DMPL issues continue to change hands at hefty levels while the more common dates are somewhat discounted.
Proof and mint sets remain constant with few changes except for the high flying 2008 set.