Gold Breaks $1,100 Mark
Monday, November 9, 2009
| 
Printer Friendly
The amount of activity on the dealer trading networks has increased over the last few weeks because of advancing metals. With Gold now over the $1,100 level, it is attracting more buyers. Further, every time Gold reaches a new milestone, the number of investors increases as well. Every major uptick brings with it added credence that the analysts are correct and Gold is headed to much higher levels. The current demand for bullion coins keeps most dealers so busy that they have not concentrated on their rare coin inventories. Buyers are mostly interested in Gold Eagles and Buffalo Gold, along with the 2009 UHR. Market prices are higher in most grades of Proof and MS69. Premiums are being paid for coins that are in the original government packaging. For Example, a one ounce Proof Gold Eagle will wholesale for at least $1,775 with all the original packaging. However, the premiums have dropped for the UHR because the Mint previously lifted the purchase limit and thousands of units have hit the market. Many dealers believe the Early Release and the Prooflike UHR’s will become the collectors’ choice in the future. The Early Release will have a very limited population and already seem to be difficult to locate. This week’s Moderns Wholesale Market Dealer Price Guide indicates minor changes for most of the series from Lincoln Cents through Presidential Dollars. Many of these coins have reached levels that appear to be so cheap that sellers are not interested in discounting them any further. Since most dealers have plenty of this type of material in stock, there is little need to offer to buy more at higher levels. It will take a completely new group of retail buyers to get these coins started up again. One series that has seen some changes is the State Quarters in PR70. There are a large number of adjustments, with the majority being higher Market prices. See this E-News and past issues in E-News Archive:
http://www.numismedia.com/market/enews/archive.shtml -What's Hot?
Silver – Bags, Bars & Eagles
Ultra High Relief – 2009 $20 Gold
Proof Gold Eagles – with mint packaging
Proof Buffalo Gold - with mint packaging
Bullion Coins – Gold and Platinum
Carson City $20 Gold – AU and higher
Morgan Dollars – MS63 and higher at current Market
Seated Dollars – All Grades
Modern Lincoln Cents – MS65 and higher at Market
2009 Buffalo Gold
2009 Lincoln Cents – All Varieties
2009 Territorial Quarters -What's Not?
Early Silver Commemoratives – All Grades
Early Gold Commemoratives – All Grades
Washington Quarters – MS63 and higher
Buffalo Nickels – MS63 and higher
Mercury Dimes – MS63 and higher
Walking Liberty Halves – MS63 and higher
-Other Requests
Silver Eagles – All Dates
2009 UHR
Gold Eagles
1909 S VDB Lincoln Cent – All Grades
http://www.numismedia.com
|
