Now is not the time to sell gold coins
Gold and silver are down 1-2 percent while platinum is up 2 percent. This is probably an asset adjustment on the part of major investors/traders who seem to find the stock market more interesting.
This article was originally printed in the latest issue of Numismatic News.
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Gold and silver are down 1-2 percent while platinum is up 2 percent. This is probably an asset adjustment on the part of major investors/traders who seem to find the stock market more interesting.
Gold type coins continue to follow the pattern mentioned last time with larger denominations following bullion levels and smaller denominations remaining strong and many increasing in price.
The overall market tone is quiet and generally strong, but should the need to sell arise at this time and if it is not rare don’t be in a hurry because quotes on the buy side will be somewhat defensive. While this sounds very negative, considering the overall economic conditions and the lack of true unbiased assistance from our leaders our asset class has and is performing amazingly well.
In the area of mint sets there have been absolutely no changes in any price over the last three weeks. That is the first time I have seen this in the nearly four years of this market commentary. Proof sets are quiet, but with a few silver Premier sets gaining and we have added most of the 2009 issues now that they are mostly off sale at the Mint. The Lincoln Chronicles set is strong and in broad demand.
In silver dollars, the 1880-CC, 1885-CC, 1890-CC, 1891-CC and 1893-CC have all moved up in various grades of mint state.
E-mail harrymkrause@optonline.net, or write P.O. Box 100579, Cape Coral, FL 33910-0579.
Gold Rush
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