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Early gold type moves up sharply

Precious metals have recovered nicely with a 3.5 percent rise in gold, nearly 10 percent in silver and just under 6 percent in platinum. Bullion market activity had a surge when prices dropped, but now seems on the quiet side, although steady. The metals have recovered along with the stock market. This worries me. I feel they should diverge.

Early type gold is up in most cases across the board gradewise. Many of these are out of reach for most of us with increases of $5,000 or more a coin. It is certainly a good indication that the big money still likes coins. The more common later type gold issues have not fared as well. Most are flat. Some have even dropped slightly in premium, but are still above their August lows.

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A few key date issues have fallen mostly in lower grades. Of note are the San Francisco duo of the Indian cent series and the notorious Lincoln cent of the same mint with Victor D Brenner’s initials. Both 1909 issues have been more readily available since the start of our current recession. This has been obvious since many investor/collectors were accumulating during the rise and the economy (through fear) has hampered current accumulation. On the other hand the 1955 doubled die has gained in MS-63 and MS-64. These are truly rare especially in full red.

E-mail harrymkrause@optonline.net.

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