Morgan and Peace Dollars Move Up|
October 08, 2013
This is one week where I wish I had a Ph.D in economics because of all that is going on with the budget standoff, the debt ceiling and the anticipated next round of sequester (which was successful in its first round). But all this has influenced precious metals with gold and silver down roughly 2 percent from my last report and platinum (fearing deflation again) down nearly 4 percent. I recently read some reports from the London Bullion Market Association’s meeting in Rome and while predicting an average gold price of $1,405 towards the end of 2014, they did also agree that gold may need to approach $1,050 to wash out all the weak holders before rising to higher levels and eventual new highs. The $1,050 level is where the Reserve Bank of India bought 200 metric tons previously. Their current wisdom is that there was a lot of research behind that decision.
In the silver dollar market we have continued strength in generic MS-63 through MS-65 Morgans along with several less- than common issues. The 1884-S has now topped $8,000 in MS-60 and the 1889-CC is pushing towards $50,000 in MS-63. The 1881 and 1882 P-mint issues are also up; these are much scarcer than their slight premium over common dates would indicate. Others of note are 1893-CC, 1893-O and 1894-O in MS-60.
The bigger story is Peace dollars with all the better dates rising in MS-64-65 and many rising in MS-63, MS-66 and -67.
Proof sets are steady. Most activity is in Prestige sets. Early mint sets are rising 10-12 percent, but the 1959-1963 sets are weak, which is a buying opportunity.
More Coin Collecting Resources:
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