Prices down for many gold type coins
Metals were up this week and that gave some spark to the most generic of U.S. gold type coins, namely eagles and double eagles. There was no carryover into the higher grade issues.
Metals were up this week and that gave some spark to the most generic of U.S. gold type coins, namely eagles and double eagles. There was no carryover into the higher grade issues. Pretty much all of the more common varieties dropped in MS-63 and higher, including the Type 1 and Type 2 gold dollar coins. On a percentage basis the drops were small, but still amount to $25 to $100 per coin.
Proof gold and silver American Eagles have tightened up a little more on demand from self-directed IRA accounts.
The Fort Worth American Numismastic Association convention was well organized with reasonable attendance, but buyers were very selective unless you had exactly what they wanted. So many dealers went away less than satisfied. Much of the problem is finding the material that collectors and dealers seek every show.
MS-64 and -65 generic Barber material is under pressure, while nice circulated scarcer date issues are strong. One person commented about a market letter recommending Barber quarters as being underpriced. “Hello, where have you been for the last 10 years?”
Seated half dollars are showing some action both from the low-grade promo buyers and also in the EF grade range. I would think they are a solid buy with EF-40 around $100 or so.
E-mail harrymkrause@optonline.net.
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