Gold rebounds; Eagle demand soars
Nashville is over and a slow show it was, although well run and organized. Why? Recent floods, current economic repression, poor timing and a significant drop in precious metals? I think the repression has finally caught up to the market.
This article was originally printed in the latest issue of Numismatic News.
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Nashville is over and a slow show it was, although well run and organized. Why? Recent floods, current economic repression, poor timing and a significant drop in precious metals? I think the repression has finally caught up to the market. While prices are not dropping, collectors are increasingly holding back especially in the middle of the market.
We have gold and silver back up now and platinum has stopped falling with oil. There is tremendous demand for bullion-related gold coins in Europe. British gold sovereigns are increasing in premium with Krugerrands trading above Canadian Maples. Demand for U.S. gold Eagles has also soared with May 2010 deliveries from the Mint double that of May 2009.
Proof silver and gold Eagles are again on the rise even though New York Rep. Weiner has been attacking one of the main marketing companies promoting them.
We have a new record for a U.S. coin at $7.85 million for the finest known 1794 dollar. It is fitting, because it probably is the first one struck.
There has been good activity in other U.S. type coins over the last few weeks with most BU common date Barbers recovering all of the recent declines. These as well as gains in Mint State 20-cent pieces are a healthy indication.
E-mail harrymkrause@optonline.net to share your views or ask questions.
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