Large cents, early halves and Morgans lead
The values of most U.S. coins remain reasonably constant this week, with just a modest number of price declines. Appreciating values remain in the minority and tend to be primarily…
The values of most U.S. coins remain reasonably constant this week, with just a modest number of price declines.
Appreciating values remain in the minority and tend to be primarily in areas of interest to specialists such as high-grade large cents, seldom-encountered early half dollar dates, and unusually high-condition Morgan silver dollars.
The spot price of silver, which only one week earlier surged to more than $17 an ounce, is now backsliding, trading in the low $16 area once more.
Gold has performed poorly as well. The spot price of this metal is impacting many gold coins, be they modern bullion issues or earlier business strikes meant for circulation, and be they new issues or not.
The First Spouse gold coin series is liquid, with sellers asking prices significantly higher than buyers are willing to pay. Actual transactions are few and far between.
German coin dealer Degussa recently told Reuters news agency many earlier-date gold American Eagle and South African Krugerrand coins are selling for less than $10 above their intrinsic value in Europe, while current gold American Eagles are selling for a premium of more than $40. That certainly puts quite a premium on the current date, which will then disappear as soon as 2019 rolls around.
Generally, dedicated collectors will continue to collect as investors and speculators continue to bide their time on the sidelines.
This article was originally printed in Numismatic News Express. >> Subscribe today
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