Gold and silver firm up after swoon

A nice precious metals rally began a few hours after last week’s column was written. The metals then declined sharply. As I write this, gold and silver are firm. Gold is up over 1 percent from last time and silver 3 percent with platinum off 1 percent on lower oil prices, which are being dragged down on increased supplies of natural gas along with deflationary fears. Without the drag of weak equities, precious metals have a very positive feel.

Gold type coins are all over the place on the price charts. Early type coins are firm to very strong for premium quality items. Rare or scarce date issues fly out of dealer inventories if nice and fairly priced and even if not of the highest quality good dates still move based on price.

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Generic gold issues are available at little to no premium in lower circulated grades and a slight premium in higher circulated grades to low-end Mint State. Mint State-62 and above have shown a little more increase than noted last time. Both $20 issues have better than 5 percent additional premium since last week’s market report. The $10 duo has also started to gain some premium. In the more difficult issues there is some positive increased activity in the $3 Indian Princess issue.

In regard to non-gold U,S. type coins the market is quiet on most issues but there continues to be activity in silver 3-cent coins in circulated grades. Early copper coins remain in strong demand as well.

Email: harrymkrause@optonline.net