Crash!!!!
Monday, May 15, 2006
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That is the sound of the metals retreating this morning. After last week’s major increases in Gold, Silver and Platinum the market makers decided to take profits today and the turnaround was massive. Last week Gold rose above the $700 mark and looked very strong; however, this morning it is now back down to $682.10. Silver jumped to nearly $15, but now has fallen back to $13.26. Platinum rushed past $1300, only to drop to $1270 during this morning’s trading. The good news may be that the market was not closed as of this report and it could still make up some of the lost ground.
While the metals are down the numismatic market is not. The only minor effects are for the bullion related coins and that is not hurting rare coins. We continue to receive emails and phone calls about the coin market and if you can believe the collectors contacting us, they are all convinced that numismatics is the place to be putting their savings. While many collectors and dealers try to be selective in their acquisitions, it would be impossible to locate the coins they really want in today’s market. Ideally, everyone wants rare PQ coins at today’s FMV levels. Since this quality of coin will cost well in excess of current levels, active buyers are purchasing whatever makes sense. That does not mean they will settle for the best quality for the money; it means that they are real buyers looking for coins and they have a selective process they go through to pick from what is available. We still see lots of coins trading in every venue including at coin shows, auctions, and dealer retail ads. Let’s not forget the direct mail or email pieces that retailers continue to develop and dispatch.
-What's Hot?
$5 Indian Gold – MS63 and Higher
BU Rolls – Dollars, Walkers, Franklins
Gold Commems – MS63 and Higher
Silver Commems – MS63 and Higher
Barber Coins – MS63 and higher
Early Gold -- $2 ˝, $5, & $10 XF & higher
Early Bust Halves & Dollars – Fine and Higher
Battle Creek Dollars – Lovely Toned Morgan’s
Carson City Dollars – Gov’t Holders
Carson City Dollars – NGC Certified
Mercury Dimes – MS63 & up 1916-30
Walkers – 1916 to 1947 MS63 and higher
Indian Cents – Red & Red/Brown MS & Proof
Early Lincoln Cents – Red; MS64 & higher
Key Dates in all series
Dollars – Morgan & Peace in MS63 and Higher
-What's Not?
Modern Commems – Without Govt. package
State Quarters – PR issues under 69 require discounts
-Other Requests
1893 S Morgan Dollar – Sell ANACS VF30
1911 D $10 Indian – MS64 PCGS
1876 $1 Gold – VF or XF
http://www.numismedia.com
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