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Aftermath of ANA is a Mixed Market

August 22, 2016

     Business has been rather mundane this past week after most dealers returned home from the ANA. The majority of teletype messaging has been about bullion coins, mostly modern, and the metals have been rather lackluster as well. Most experts are looking for a breakout but are not sure which way the market will head. Currently Gold is $1,336 and Silver is $18.85. Premiums on all bullion products are at a low as dealers are trying to entice buyers, and even the earlier common U.S. Gold coins have tight spreads. One ounce Proof Gold Eagles are trading under $1,500 for the first time in recent months and Proof Silver Eagles are down to $47 in OGP.

     This week’s Moderns Wholesale Market Dealer Price Guide is mixed, especially in the Lincoln Cents chart. There are numerous advances for high grade coins that are typically sought by Registry collectors, particularly MS67 Red cents. The 1948 D Red in MS67 is up to $440 Market and the 1953 D in the same grade is now $360. In addition, the 1943 D & S Zinc Cents are higher in MS68; the D is at $1,325 Market and the S is now $2,575.

     The 1949 Lincoln Cent in MS67 Red is down this week, now at $1,325, and the 1951 MS67 Red is lower at $975. These downturns typically occur when the market is saturated with excess coins that have recently been certified.

     Results from recent auctions have brought lots of changes to the early Proof Lincoln Cents chart, including the 1909 PR67 Red which is up to $8,950 Market. Also on the rise is the extremely popular 1909 VDB, especially the high grade Red coins; the PR66 is now higher at $45,500 and the PR67 is $57,500. The rest of the chart is mixed with some higher and others lower; the 1914 in PR68 Red was overvalued and has fallen to $76,500 Market.

     Mint State Washington Quarters seem to be very plentiful and demand has subsided somewhat; some discounting is needed to create sales. Many issues are lower because there are currently more sellers than buyers. Even some of the key dates are lower due to the increase in available coins in the marketplace. The 1932 S can be found in many dealer inventories and at coin shows. The MS64 is down to $765 Market and the MS65 is lower at $3,025.

     All the modern bullion products are currently mixed as the metals fluctuate daily. On a positive note, many dealers are reporting that there are more buyers than sellers at this time. Some collectors and investors are using this market as an opportunity to add to their holdings.

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