20-Cents Bright as Metalsí Future Darkens|
June 26, 2013
Ben Bernanke has done it again. Stronger comments about winding down quantitative easing June 19 caused the stock market to drop 1.5 percent immediately with more expected. Asian markets dropped over 2 percent and European markets opened down 2.5 percent.
Gold took a 5 percent hit, down nearly $90 and silver plunged 7 percent and reached an outrageous 64.3 to 1 versus gold. Platinum is the winner down only $60 and back at 1.08 to 1 versus gold. Supplies are tight. The oil industry needs it. Is the party over? I doubt it, but the band certainly is taking a break. The Fed has said nothing about what it will do with $3 trillion in government debt it bought.
There is increased activity in Mint State 20-cent pieces and higher grade Seated Liberty half dollars without motto, an always popular type coin. Early copper type coins continue strong and very active when found, but later small-size key dates are again taking it on the chin. Now that it is nearly five years since the 100th anniversary of the first Lincoln cent, the bloom is off the 1909-S VDB, 1909-S, 1922 no “D”, 1931-S and the 1955 doubled die.. Some weakness has also shifted to the lower grade 1877 cents. A very bright spot in 20th century issues is 1921. The Mercury duo has increased strongly in all Mint State grades and the Walking Liberty half trio has done the same from EF-40 on up to MS-65. Even though some grades have gained as much as 20 percent they are still great to acquire.
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