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Gold and Silver's Compelling Dance
December 28, 2010

Gold is taking another stab at setting a record price this morning, jumping back over the $1,400 mark that has stymied it since early November.

It closed at $1,409.80 Nov. 9 and then dipped. It closed at $1,415.30 Dec. 6 and then dipped.

Where will the current attempt reach?

If nothing else, gold’s gathering strength might be considered a week early if the last two prices are any indication of the rhythm of the market.

On the other hand, silver could easily close above $30 today, a nice round number that has been danced over a couple of times, but when the trading music stopped, the closing price in the middle of December was always just beneath it.

At $30, standard pre-1965 silver coins are worth 21.45 face value. That number inspired me to realize that the $10 a week I earned as a paperboy in 1968 if expressed in the current value of the silver coins that were rapidly disappearing from circulation at the time would be $214.50, a very nice profit if I could have kept it all. But like everybody else, the demands of life intervened and I had expenses.

So the profit is mostly just a daydream – not a bad one to have at yearend.

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About the Author
David C. Harper has been a coin collector since 1963. He joined the Krause Publications editorial staff in 1978 and is currently editor of Numismatic News and World Coin News. He also edits two books annually, North American Coins & Prices and Coin Digest. He is the author of the Class of '63 column that runs each week in Numismatic News. His first bylined numismatic article appeared in the June 1971 issue of Coins Magazine and his various Krause Publications assignments included a stint as editor of the magazine 1980-1983. Harper received a bachelor of science degree from the University of Wisconsin-Oshkosh in 1977. He had a double major of journalism and economics.

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