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Offers soften generic Morgans

While gold bullion has been weaker and most bullion coins are readily available at normal competitive premiums, the opposite is the rule on most common date earlier U.S. gold issues. Fully over a third of the MS-62 and over coins are up.

Platinum proof Eagles are also showing a lot of strength, but remember this is a somewhat thin market. Caution is advised. Gold Buffaloes are way up in proof. There is constant strong demand for the Mint State issues as well. Caution is advised here, too, as the Mint could resume production. This would turn that part of the market upside down.

Morgan dollars are softer in the generic MS-64 to -65 ranges and there are lots of offers to sell in the wholesale market for the commonly promoted key and semi-key dates. In two days at last week’s Baltimore show we were offered over a roll each of 1889-CC, 1893-O-S, 1895-O-S coins. However, they were almost always off quality. The GSA Carson City group seems to have few buyers and yet single BU coins of those same issues are still selling reasonably well. Proof and mint sets have very few changes and activity in this area remains reasonably healthy.

Baltimore show results were mixed. There were several dealer comments that it was significantly better than Long Beach. The crowd was normal, but many were short of cash.

E-mail harrymkrause@optonline.net.

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