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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

October 12, 2009

Classic Gold Falls Despite Rising Metals

     Gold is approaching the $1,060 mark and Modern Eagles and Buffalo Gold are in strong demand. Dealers have been very competitive for these coins, especially the Proof Gold Eagles. Dealers will now pay as much as $1,700 an ounce for coins with complete original government packaging. Fractional Buffalo Gold is rarely available on the dealer teletype systems.

     As Gold rises, we find it interesting that the Classic Gold coins have begun to drop lately. Common U.S. Gold premiums have fallen over the last couple of weeks. All denominations are reflecting lower Market prices in most grades from MS61 to MS65. The $5, $10 and $20 Gold are mostly lower in VF to AU58 as well. The $20 Liberty Gold fell from $1,535 to $1,485 in MS62 over the last three weeks and in MS61, they lost $50, now at $1,450 Market. $20 Saints fared about the same with the MS62 down to $1,460 from $1,545 and MS61 now at a lower Market of $1,435 down from $1,520 three weeks ago. Despite the lower Market prices, demand is steady for most of the generic U.S. Gold.

     Morgan and Peace Dollars are showing some signs of life even though the majority of adjustments are declines. There are more dealers trying to buy various dates and sales are taking place. This would indicate that collectors are in the market and trying to fill out collections now that prices are more reasonable. There has been a lot more trading of Morgan Dollars on the dealer teletype systems with some dates moving higher. Most of the better dates do not trade very often and they will usually attract buyers at premiums because the seller will not let them ago unless they receive a good price.

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NumisMedia Weekly Archive
Current News and Analysis of the U.S.
Rare Coin Market

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