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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

January 4, 2010

Florida Conventions Begin with Gold on the Rise

     2010 is here and Gold has already advanced over $20, putting it above $1,116. Many of the nation's coin dealers are in Florida for FUN and higher Gold is sure to spur the market just in time for this headliner convention of the year. Bowers and Merena Auctions will host a Rarities Sale January 5 and Heritage Galleries will conduct the Official FUN Convention Auction beginning January 6.

     The year ended with a substantial number of declines in U.S. Gold due to falling bullion. Premiums were down from previous highs and collectors/investors were on hiatus. Most buyers are waiting to see which way the market points as 2010 begins. The latest HD Wholesale Market Dealer Price Guide lists declines for the most common issues in $1 through $20 Gold. The most notable declines appear in the $10 and $20 charts in grades VF through MS64. Higher Gold will certainly have an impact on supply and demand in Florida.

     Very few changes could be found in Early Bust, Seated, and Barber Halves. These series appear steady at current Market prices. The same can be said for Early Bust, Seated, and Trade Dollars. Not many dealers are willing to discount accurately graded coins at today's levels. It looks like we are beginning to see a few higher buys for Deep Mirror Prooflike Dollars. Nothing too substantial yet, but it could be shoring up a base value. In addition, it looks like Carson City Dollars are attracting new buyers. There are a few new dealers with buy lists on the teletype systems to go along with the usual market makers.

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