Gold premiums rise while bullion declines

The IMF will provide $18 billion to Ukraine and an additional amount from other sources brings the total up to $28 billion over two years. The West has increased sanctions on Russia. I would bet that many Western leaders are hoping Putin will just stop and the aid will re-invigorate Ukraine. Gold plummeted along with silver and platinum. Big-time money managers are looking at the carry of hard assets versus the return on 10-year T-bills and equities. Their game is if you turn over fiat currency fast enough you wind up with enough to beat inflation. Hard asset people would rather squirrel away some nuts for the financial winter. Gold has lost 2 percent; silver 3 percent and platinum 2 percent. The ratio favors silver and platinum less dramatically.

Gold type coins are under pressure although the premium on Saint-Gaudens double eagles has strengthened over the last two weeks on rising demand. This is also true of Indian Head quarter, half and eagle denominations where supplies have dwindled in recent years. One guru at RARCOA told me a few years ago when premiums on $2.50 and $5 gold Indians increased that this would be the trend.

Non-gold type issues are much better with MS-65 Flying Eagle cents at $3,500 and Seated quarters with arrows (1854-1855) up again in MS-64 at $2,925. Barber halves are approaching $50 in F-12 for common dates. The MS-60 coins rose in the wholesale bid sheets. MS-60 to MS-62 coins are very good value compared to higher grades.

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