Gold Type Coins Show Mixed Performance|
May 15, 2013
This article was originally printed in Numismatic News.
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Precious metals remain relatively calm and within their recently established trading range. That range for gold is $1,440 to $1,480 with the other metals trailing gold’s lead. Platinum is edging slowly higher in that each time gold rallies platinum follows and falls slightly less when gold declines. There are strong indications that platinum supplies are getting tight with annual mine production continually running behind industrial consumption and a slowing of supplies from scrap recovery to fill the gap. In other precious metals news China apparently increased its gold reserves by 223.5 metric tons in March.
The U.S. gold type coin market is mixed with many generics simply following bullion prices and there is some give back of recent premium increases. It is noteworthy that Type 2 $1 issues are up over 10 percent in MS-65 and No Motto $10 Liberty gold coins are also up just over 10 percent in AU-50. Several generic Indian Head issues continue to be in demand; however the 1911-D quarter eagle has declined in MS-60 through MS-63. All other keys date issues in our charts remain stable.
Draped Bust half cents and half dollars dominate the non-gold type arena with MS-64 halves gaining 25 percent. Several Lincolns have been sliding with the 1931-S now back under $100 in VF-20 condition. The 1922 plain is softer in lower grades but gaining in EF-40 and above. The 1955/1955 has declined in AU-50. The EF-40 1921-S Walker has declined.
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