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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

February 7, 2011

Morgan & Peace Dollars Climbing

     The Long Beach Coin Expo was a little quieter than usual because of the weather conditions around the country that restricted travel for many dealers. But for those in attendance it was business as usual as wholesale dealers made the most of trading with other dealers and the public took advantage of lower metal prices to purchase modern bullion coins and sets. Most dealers and collectors appeared to be satisfied with trades, the market, and the show in general.

     With Gold under the $1,350 mark, the one-ounce Proof Gold Eagles are trading at $1,535 between dealers. At one time these were well over $2,000, so buyers are feeling like they are getting a bargain at current levels. Most buyers still think that Gold is destined to move to a much higher price. The 2009 UHR continues to be in strong demand as prices have held steady over the last few months. The Prooflike coins have been very popular.

     In this week's HD Wholesale Market Dealer Price Guide most series are active at present levels with the exception of generic Gold coins. Many of the common dates have drifted lower in the circulated grades up to MS63. Again, many buyers think this is an opportunity to add to their investment holdings. Morgan and Peace Dollars are very strong at higher Market prices. Lots of buyers make these coins difficult to locate in quantity. When most deals of MS63 to MS65 are offered on the Teletypes, they sell very quickly. Morgan Dollars in MS63 are up to $43 while the MS64 is higher at $67. MS65's have advanced to $142 and there are still many buyers at this level.

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