Deal or no deal?
Whether the price of gold stayed over $1,600 an ounce in mid July seemed to depend on whether precious metals investors expected politicians in Washington, D.C., to come to an agreement on raising the federal debt ceiling by the Aug. 2 deadline.
A record New York closing high of $1,602.10 an ounce was set July 18 as no deal seemed likely.
Gold closed at $1,596.70 July 20 when debt deal optimism prevailed.
Silver rode the same pricing roller-coaster.
It closed over $40 a troy ounce on the no deal day and then retreated to $39.55 when a deal seemed more likely.
At $40 an ounce, the metallic value of pre-1965 dimes, quarters and half dollars is 28.6 times face value.