Gold Type Coins Ride Up on Increasing Action|
It appears that precious metals are in a new uptrend. Whether this is short term or longer remains to be seen. The action certainly has been a typical fake-out of the weaker longs; because just when they were getting shaken out of the market it turned positive. If you remember last time I mentioned that gold “so far has not tested its short-term support at $1,272, which is its 100-day moving average.” This was the key for a quick turnaround. This week gold is up almost 3 percent, silver 2 percent and platinum 1 percent. There is very good physical demand for gold and even more for silver. The Ukrainian situation has added to support as have Janet Yellen’s Fed comments regarding no near-term interest rate hikes.
There is a great deal of activity in the gold coin type market. Many long dormant buyers/market-makers are back bidding for coins across the board. Some of the most notable are those seeking $5 and $10 Indian coinage. There are numerous buyers seeking the half eagles in MS-63 and MS-64 at higher levels except for 1909-D, which is wanted but not at higher levels. The same is true for eagles with the 1926 and 1932 being a bit higher but not as dramatic as the others.
Early copper continues in strong demand with Draped Bust half cents increasing in VG-8 through VF-35 and if you’ve got deep pockets Liberty Cap cents are up in MS-63 and there are numerous buyers. One coin on everybody’s want list, the Small Eagle Draped Bust half dollar has risen strongly in VF.
More Coin Collecting Resources:
• Kick-start your coin collection with the Fundamentals of Coin Collecting set of essential resources and tools.
• Strike it rich with this U.S. coins value pack.
• Build an impressive collection with Coin Collecting 101.
Add to: del.icio.us digg
With this article: Email to friend Print
Something to add? Notice an error? Comment on this article.