Gold up but gold coin premiums drop

Metals are mixed. Gold is up 2 percent and silver widens the ratio gap at plus 0.5 percent. Platinum has gone the other way following a slightly weaker oil price. Would someone please tell the gas stations? The Dow and other equity markets around the world have dropped 3-4 percent over the last week while gold rose and silver basically held its ground with a strong show of small retail investor demand. The silver demand is mostly for U.S. 90 percent coin and smaller bars.

Gold type coins continue with the lowest premiums of the last 50 years in circulated grades. Common date issues in Mint State have again given up several percentage points of their premium, yet CAC stickered slabbed coins are steady. This newer fourth tier of grading has definitely contributed to market erosion (particularly in gold coins) of the other grading standards. The tiers are: raw, second tier 3rd party grading, 1st tier 3rd party grading and premium grade, meaning Plus, CAC, PQ and others.

The 1909-S VDB has taken a haircut in MS-65 red and 1892-O Barber halves in VF and EF have declined slightly. The Lincoln is a result of lack of speculation and the halves are just some increased availability. The four Barber quarter keys are relatively quiet, but over a dozen of the semi-key dates have moved up in G-4 through VF-20, creating quite a stir. This makes my heart glow as I have often had other professional numismatists question my enthusiasm for this series.

Email: harrymkrause@optonline.net