Mint Hikes Prices for 1 Ounce Gold, Platinum|
March 04, 2013
This article was originally printed in Numismatic News.
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Another brilliant move out of Washington, the U.S. Mint has increased the cost over melt of proof 1 ounce gold Buffalos and proof 1 ounce platinum Eagles. This is despite profitable yet falling demand. Other bullion related items have been increased as well.
Some will think this is part of a conspiracy to hammer precious metals some more, but I doubt they are that smart and coordinated. At any rate, we have gold trickling down again on this last day of February after having rallied nicely over $1,600 for a few days. Silver was also moving up nicely having closed the ratio gap to 53 to 1, but is now in the 55 to 1 range. Platinum, after hitting nearly a 4 percent premium to gold, is now toying with parity again. This could be hedge fund action or perhaps some of the mining issues in South Africa are calming down. Silver is the better buy at current levels.
When it comes to bullion related US Type coins many may be under pressure, but copper issues are just the opposite. I hate to sound like a broken record but Early Copper issues are not only strong, they are on fire! There are over 70 non-gold price changes in this week’s charts 67 are increases across the early copper sector.
While copper is the news the rest of the non-gold type coin markets remains very healthy.
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