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Gold Type Coins Active as Bullion Rises
By Harry Miller, Numismatic News
September 03, 2013

This article was originally printed in Numismatic News.
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Well, it’s certainly more fun to write about precious metals today than it was several weeks back.

Gold is up nearly $50 since last time, silver up over a dollar and platinum $15.

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Silver is still leading the pack now at 58.5 to 1 versus gold. Platinum has slipped back in premium now at 1.08 to 1 versus gold. I would suggest percentages still favor silver and platinum over gold. While there are valid arguments for ratio’s as low as 16 to 1 for silver/gold, I would suggest somewhere in the low 40’s to 1 as very probable.

However, this little tidbit from Money Morning published in the UK might raise some eyebrows: “London’s gold exports soared from a mere 83 metric tons in the first half of 2012 to a staggering 798 metric tons in the first half of this year.”

Purportedly this gold has gone to Switzerland to be refabricated into smaller units for further export to Asia. That is a huge transfer of tangibles. Another interesting factor in the gold market is a backwardation in the gold futures, meaning gold for future delivery is cheaper than current delivery. That has a twofold meaning depending on which side of the fence you stand on. First, many will say it indicates lower prices in the future, but it really indicates that physical supplies are not equal to demand.

So what’s the effect on the coin market? Well, USA gold type is very active with many increases. There are still many issues lagging in premium, and if one studies the charts bargains can be found.



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