Bullion was impacted and bullion gold and silver coins are experiencing significant appreciation as the dollar rises on the world market and fear grips Wall Street.
The major winners are the business strike Gold and Silver American Eagle coins but the interest in any silver composition coin issued for circulation is intensifying. Gold and silver are each at a six-year high. Platinum continues to increase markedly in value as well.
Collector coins, however, continue to lag as many of the bullion buyers remain more concerned with intrinsic than in collector or investor value. Foreign buyers stay away since these coins are priced in US dollars. The values of such normally ‘meat and potatoes’ series as Buffalo nickels, Walking Liberty half dollars, and Morgan silver dollars continue to drift, with little sign of additional demand yet to be seen.
There are common date and condition gold coins that remain stagnant, continuing to sell merely for their metal value. The lack of demand for common gold coins is due to investors seeking gold-backed exchange traded products rather than the physical product.
With the annual American Numismatic Association convention about to convene there are high hopes additional collector demand will give market demand a much-needed boost. In the meantime the support level for bullion gold and silver appears to be paramount not only for those seeking shelter from the economic storm, but for anyone interested in coins as well.