Early Gold Still in Demand Despite Fewer Buyers
Monday, June 29, 2009
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The coin market is steady although there are some declines in most series. Buyers are looking for bargains and this is what gives the market some degree of satisfaction. Key date coins in most series are trading at or close to current Wholesale Market prices. This is a positive adjustment to recent wholesaling of coins being offered at 20% below Market prices and still not selling. We have noted a large number of declines for better date Morgan Dollars in the circulated grades. For example, in this week’s HD Wholesale Market Dealer Price Guide the 1889 CC, 1892 CC, 1893 O,S, 1894 O,S, and 1895 O Dollars are down in VF to AU50. All of these grades had increased considerably over the last few years and demand was continuously rising. Classic Gold Commemoratives are showing more declines as sellers are outnumbering buyers in this current market. The 1916 McKinley $1 Gold fell in grades MS64, 65, and 66. Dealers have been talking about this series and wondering how low prices can fall. Almost the same can be said for Silver Commemoratives as many of the Market prices within the series have been falling over the last 6 months. Buyers are very fussy when it comes to these coins. Generic U.S. Gold continues to fluctuate with bullion. Most of the common date $10 and $20 Gold are lower in the VF through AU grades. There is still demand out there but the premiums have tightened considerably. Demand does look stronger for Mint State grades with many of the MS61 through MS65 grades on the rise. Early Gold is a mainstay for advanced collections, although we have reported some minor declines for specific dates. The 1795 Small Eagle $5 Gold is lower in Extra Fine and MS60 this week. The 1795 13 Leaves $10 Gold is down to a Market price of $58,000 in AU53 and $145,000 in MS62. We do not see many of these coins on the market that are problem free. See this E-News and past issues in E-News Archive:
http://www.numismedia.com/market/enews/archive.shtml -What's Hot?
Ultra High Relief – 2009 $20 Gold
Bullion Coins – Early and Modern
U.S. Gold – Classic Gold in All Grades
GSA Carson City Dollars – Raw & NGC Certified
Seated Dollars – All Grades
Seated Dimes – Most Dates & Grades
Seated Quarters – Most Dates & Grades
Seated Half Dollars – Most Dates & Grades
Indian Cents – Red & Red/Brown MS & Proof
Early Lincoln Cents – Red; MS63 & higher
2009 Lincoln Cents – All Varieties
2009 Lincoln Commem Dollars -What's Not?
State Quarters – PR issues require discounts
Early Silver Commemoratives – All Grades
Early Gold Commemoratives – All Grades
Common 20th Century Coins – All grades
Buffalo Nickels – MS63 and higher
Mercury Dimes – MS63 and higher -Other Requests
1909 S VDB Lincoln Cent – All Grades
1909 Lincoln Cents – All Mint State Grades
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