Demand pushes gold dollars higher
Investment demand for gold and silver seems to be softening.
Investment demand for gold and silver seems to be softening. Small U.S. gold is anything but lower with circulated $1 coins in strong demand (probably a promotion around the corner) and quarter eagles are showing strength in all circulated grades and the lower Mint State grades. Much of the demand on Indian quarter eagles comes from telemarketers selling overgraded sliders as investment items to unwary retirees, who are worried sick over the equities markets.
Morgan and Peace dollars remain mostly steady, still with strong promotional and investment demand for the common circulated issues. The common GSA Carson City issues have been soft lately and trading in the $165- $180 range for ordinary Mint State examples. A few of the high flyer Morgan dollars have taken a hit, but that in no way is indicative of the overall market. As an example, the 1887/6 is down in MS-64-65, but I can’t remember the last time I saw one and I review well over 10,000 coins a month.
Proof and mint sets are continuing steady with several later date silver issues showing strength, including the scarce 1999-S set, which has gotten somewhat cheap compared to its historical levels.
Over the past few days there has been some increased activity in key date U.S. type issues. Next week we will review them along with our type and key date type charts.
E-mail harrymkrause@optonline.net.