Coin Market to Press
April 17, 2009
One of the tasks I perform on a monthly basis is to make sure that the updates for the Coin Market monthly price guide section in Numismatic News is updated and makes its way through production.
Deadline is this afternoon.
While I was inputting some values for the American Eagle gold, silver and platinum bullion coins, I had the impression that the prices of the silver American Eagles were getting a bit weaker, more so than the swing in the price of bullion would warrant.
Does this mean the Mint is catching up with demand? Could be.
The proof version of the gold American Eagle keeps leaping even as the price of gold itself is lower. The demand is coming from Individual Retirement Account buyers who want to put an authorized gold coin into their accounts.
Now that tax time has just passed, will the proof gold American Eagles retreat a bit?
The other observation I would like to share is the stealth recovery in the price of platinum. It is back over $1,200 a troy ounce after having been significantly below $1,000.
You would think with car sales in the tank that demand for platinum would still be tanking with them, but perhaps it isn't. Perhaps buyers are looking beyond the present for a recovery.
For a Friday, the thought of an economic recovery is a happy one and something to look forward to - that and meeting the deadline.
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