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Gold Bullion Shows Some Strength
By Harry Miller, Numismatic News
June 04, 2013

This article was originally printed in Numismatic News.
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There is a better tone to the precious metals this week. This is an interesting time because I would have expected a little more weakness first. Silver and platinum are barely being influenced by the upward move in gold, which is a troubling sign. We have silver at 61.5 to 1 versus gold and platinum easing off at 1.04 to 1. Premiums on silver bullion and silver American Eagles have subsided slightly as more products come to market. Gold bullion premiums are currently steady.

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Morgan dollars are steady with a slight decrease in premium versus silver on the lowest grade common date issues. The 1878 7/8TF has topped $40 in VG-8, while the 1878 7TF reverse of 1879 has topped $100 in MS-60. Several of the more common Carson City issues have again moved up in Mint State grades along with the 1885-CC issue in virtually all grades. The 1892-CC, 1890-O and 1897-O issues are also on the move again in Mint State. Not to be overshadowed, the 1904-S has gained nicely in MS-60 to MS-64. The really big story is in those rarer DMPL Morgans where nearly half of the issues we track have moved up in the past several weeks.

Perhaps Peace dollar took a cue from the DMPL Morgans with every non-common date moving up in MS-63 and many in MS-64 as well. In general, better date Peace dollars in all Mint State grades are hot.

Mint and proof sets seem to be getting a case of the upcoming summer doldrums with several silver sets finally reacting to weaker silver after nearly a month’s delay. Many of the most recent sets are still active and on want lists.


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