Type coins strong as gold nears record

This article was originally printed in the latest issue of Numismatic News.
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As I write this morning we are within 1 percent of the all-time high price for gold. By the time you read this, that price may be history. U.S. type gold has strengthened considerably and seems to be confirming the current upward trend, although some say it is being caused by the end of vacation season and people getting back to reality. Either way, the underlying reasons are still the same.

Silver is up over 2 percent this week. It seems to be breaking out in relation to the other metals, confirmed by the action in common date circulated silver dollars. Platinum is up nearly 1 percent, seeming to gain some ignorance of softer oil prices. Two weeks ago I mentioned the soon-to-be-released platinum proof Eagles as having a pre-release premium; well, they are now sold out!

U.S. type coins are selectively trading higher, but anything nice for the grade is scooped up as soon as it is offered to anyone knowledgeable about the market. There is continued strength in the Seated and Barber coinage sectors. Most of the action has been in the MS-63 to MS-64 range, as well as some in the MS-65 area. It seems that the MS-60 to MS-62 area is lagging, and if one were a little selective some really good values could be found. Don’t ignore any nice AU-58s, either.

While not shown in the accompanying charts, proof type coins have been enjoying a strong market again this summer, especially if attractive for the grade.

E-mail harrymkrause@optonline.net.