Gold Helps Fuel Business at ANA Show|
February 28, 2014
A week before I attended the American Numismatic Association National Money Show in Atlanta, I was at the Sarasota show. There was good activity there. Many collectors searched for items on want lists. A very good sign was a number of newcomers who were interested in learning as evidenced by questions. Sarasota is affluent. To see more than a handful of interested people and dealers willing to help was rewarding.
At the ANA there are good signs of a strong market. There is buzz about the big gold coin find in Northern California. Gold held the $1,320 level after reacting to a technical sell signal from Bank of America and is up over $10, or exactly $20 higher than last week’s report. Silver has not fared as well, down about one-half percent, making it a buy at 62.3 to 1 versus gold. Platinum gained about the same percentage as gold and is still cheap at 1.07:1 versus gold.
Gold type coins have reacted well to bullion strength, but small denomination issues seem to be lacking interest and several Mint State issues have declined. This market along with bullion seems to be climbing a wall of fear – a positive sign.
Small eagle Bust dollars are up in VF-20 and in demand across the grade spectrum, Seated dimes and quarters with motto are up in MS-64, 1859 Indian cents are up in Mint State, and circulated Seated quarters in G-4 are up for all types from promotional demand. The 1934-D and 1936-D quarters are up in Gem BU as is the 1921 Mercury dime duo.
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