Premiums returning to Morgans
Gold is down 1 percent, silver is up a nickel and platinum dead even. The trend, however, does seem negative. Markets are mostly ignoring how the European Central Bank liquefies (fiat currency) the banks and then the banks buy the toxic sovereign debt of member nations. This is like treating cancer with narcotics. The pain goes away but the patient dies.
The silver dollar market is very steady and mostly within recent trading ranges. There is some adjustment on dates that were overshadowed by the sharp silver increases of the past few years. We have seen some recent dealer buying activity in lower grades of issues like 1892-P&O, 1892-S, 1899-S 1928-S and 1934-S. Many of these and similar less common issues were dumped into bulk silver deals as prices rose last year and the market is waking up as ordinary collector and marketing demand depletes existing thin inventories. On the higher end, 1878-S dollars have increased in gem Mint State along with the 1879 Carson City issue.
Want to broaden your retirement portfolio beyond stocks and bonds?
Proof sets are generally steady with good underlying support. We even note some positive buying activity of many state quarter sets that have been beaten to death over the past two years with many selling at under $5 per set recently. Another interesting group is the last four pre-clad silver sets. They have regained some of their premium to silver melt value. Perhaps enough were melted to achieve market equilibrium.
Email to harrymkrause@optonline.net.
More Coin Collecting Resources:
• State Quarters Deluxe Folder By Warmans
• Subscribe to our Coin Price Guide, buy Coin Books & Coin Folders and join the NumisMaster VIP Program
