Gold topped $1,150 for the first time in history. Both silver and platinum have outperformed gold, playing a little catch-up. There has been a positive influence on them because of news about fake gold bars of plated tungsten floating around the world. If you follow my friend Pat Heller’s articles you would know this to be old news. Nevertheless, it is circulating widely and having an effect.
Might health care reform be pushing gold higher? The world looks at it and sees another trillion new greenbacks over the next 10 years.
Most premiums on U.S. type gold coins remain strong and are even escalating. Last time I mentioned proof gold Eagles approaching the $2,000 area retail. They did just that at Baltimore with wholesale transactions at over $1,900.
Morgan dollars are still a mixed bag with several high fliers showing weakness, but there is definite renewed interest with a few notable jumps, such as 1889-O and 1892-O, both jumping 1K in MS-65. Generic MS-65 coins are showing renewed demand and it seems several telemarketers can’t get enough of the early S-mint issues in lower MS grades.
Proof and mint sets are active but with only seven price changes. All are positive for the first time in a long time.