This article was originally printed in Numismatic News.
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We certainly have been on a roller coaster ride in precious metals. Silver reached a pinnacle of $49.82 this past week and very nearly touched the 30 to 1 ratio with gold.
Silver is now following gold, which has made a new all-time high as I write this, of $1534.60. Bull markets have a mind of their own and will scare the hell out of you, shaking out the doubtful and whip-sawing the stout hearted.
Remember these are and will remain very volatile markets. Don’t bet the mortgage money on them. Coins with a good underlying numismatic value are a much safer venture.
Ben Bernanke spoke again April 27 and said more of the same, not to worry! With his encouragement we have U.S. gold type coins in a renewed bullish phase with almost all generic issues in demand in circulated grades. Double Eagles are strong up to and including MS-65 specimens. Quarter Eagle and Eagle Indian gold are on gaining interest in circulated grades. The Indian head Eagle is a great buy at current low historical premiums.
Silver Eagles are in short supply with premiums nearing 10 percent over melt for immediate delivery. Proof silver Eagles continue very strong and are nearing $90 per coin at wholesale.
Mint state large cents continue upward along with mid-grade mint state trimes (3-cent silver).