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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

November 15, 2010

Volatility Creates Uncertainty and Opportunity

     Major swings in the prices of metals this past week has caused some trepidation amongst buyers. The dramatic swings of $50 for Gold and $1.50 for Silver last week posed questions about short term direction. However, buyers who feel the metals are still headed to more record highs can simply take advantage of these buying opportunities. Gold and Silver Eagles are consistently at the top of buying lists with most coin shops, doing a high percentage of their business in bullion related coins. Demand is very strong on the nation's teletype networks.

     This week's HD Wholesale Market Dealer Price Guide shows mostly positive results in Early Halves through the $20 Gold series. Demand is steady for properly graded coins and is especially so for any of the series prior to 1900. Dealers and collectors are looking for better date Seated Halves and when available they will bring premiums. The 1852 O has a higher Market price this week in MS62 and 63, at $5,800 and $6,725, respectively. The 1877 CC moved higher to $4,225 in MS65. Walkers continue to be plentiful for dates in the 1940's, and discounts appear. However, the 1921 S advanced to $38,650 in MS64. This is a very tough date in all Mint State grades and thus, very popular. Morgan Dollars are attracting lots of attention at current levels. Also, DMPL Dollars and NGC GSA Carson City Dollars are easy to sell at today's prices.

     There is widespread interest in all U. S. Gold series. Every series has a long list of increases with the bullion issues leading the way. The minimum Market price for the $5 Gold is now $1,250 in MS64. With bullion being so hot the spreads between many grades is very narrow. For example, the $5 Indian has Market price of $415 in Extra Fine and $455 in AU58. When prices are this tight, most buyers will typically look for the higher grades because they seem more reasonable compared to the lower grades. While common U.S. Gold is attracting most of the interest, recent auctions show that the early $20 Liberties are very strong. The 1861 O rose to $42,500 in AU53 and $52,750 in AU55. The 1874 CC is higher at $19,500 in MS61 and $27,500 in MS62. Low mintage and low population U.S. Gold is a high priority for many investors.

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