Gold Prices Climb, Type Coins Strong|
March 18, 2014
More sabre rattling, rumors of Ukrainian gold being shipped to the New York Fed, Chinese safe haven buying of gold while dumping base metals and EU unrest in the banking sector are all contributing to gold climbing that “wall of fear.”
Since last report gold has climbed almost 3 percent, silver has struggled but gained 1.5 percent and platinum is flat to very slightly negative. Still in the case of gold the biggest underlying factor is the continuous creation of huge amounts of fiat currency around the world.
Aside from the fear factor that drives gold in times of international tension there is the Chinese economy. China has allowed a large solar company to default on its bonds and that along with other apparent weaknesses is producing the fear of deflation. Therefore there is downward pressure on all commodities.
The type coin market remains vibrant and again we have gains in VF and BU Barber halves. These are followed by strong action in VG to VF Capped Bust dimes, nice G-4’s are now underpriced but they rarely come with full reverse rims. A typical coin will have a F-12 obverse and an AG to VG reverse. Although I have not seen any offerings wholesale 1877 VF to AU and 1909-S AU to MS-63 Indians cents are lower in wholesale bid sheets. Somebody fill my bucket! Several semi-key Buffalo nickels are active and increasing in VF to EF. The 1942 over date Mercury dime duo have shown some weakness in VF to AU.
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