Gold is right at a critical level and seems to be holding well. Right after the European Union announced yet another financial bailout plan Oct. 27 with Greek debt being discounted a full 50 percent, gold did drop near $1,700, but it bounced back in a few hours. Any significant move above $1,730 will most likely signal a new up phase. When gold dipped, silver held pretty steady which is also a very positive sign.
Generic U.S. gold type coins in circulated grades are very low in premium and really a much better buy than bullion coins. Demand for proof silver eagles has been picking up
again. This is no doubt the result of IRA accumulation as we head toward the close of the year. MS-64 $20 Saint-Gaudens and MS-63 $10 Indians seem like very good buys at current premium levels.
Like what you're reading? Subscribe to our FREE email newsletter![form id="27827"]
In the type coin market the big story is early copper. While the only reportable price changes are in the Draped Bust and Classic Head issues in uncirculated grades, the whole series before 1850 is strong and before 1830 just plain hot for nice original coins.
The balance of the U.S. type coin market is steady with minor adjustments in both directions. Barber coinage in VG-8 has regained its normal premium over silver and strong demand in full liberty grades continues. This is especially true for scarcer dates. The 1796 quarter has gone ballistic with MS-65 gaining a cool $50,000.