Gold made several attempts to rise above $900 per troy ounce this past week and did on two separate occasions, but now remains slightly lower than in our prior issue. Silver is 2 percent higher and platinum is down about 7 percent. News of China increasing its gold holdings did not have the impact that many would have expected. I think it had a strong influence on keeping the market steady. There are many reasons that world governments, especially the debtor nations, would like to keep a lid on these prices, but in the long term I believe the Oriental wisdom will prevail. A few premiums have come down somewhat but demand remains strong on most bullion issues.
Today is the beginning of the Central States convention in Cincinnati, with yesterday being PNG day. I will have news of the outcome of this popular event next week. Preliminary results were positive.
Capped Bust half dimes, dimes and quarters continue to be in constant demand and are experiencing upward pricing pressure especially in the case of the half dimes. The promotional buyers are scouring the countryside for huge quantities of many statehood quarters. There is also strong trading in recent Sacagawea and Ike dollars. The Ike dollar series is a relatively easy set to complete, but in higher Mint State many are very rare and worthy of notice.