Weekly Market Recap 07/17/09

Bullion prices rallied this week as U.S. equities reached a one month high on rising company earnings reports. Prices hit their first weekly gain in nearly three weeks while riding the coattails of rising oil prices and a declining dollar. Talks of a second fiscal stimulus package continued this week keeping economy woes on the front burner for investors.

This week, APMEX presented customers with an opportunity to buy selected U.S. and foreign coins and currency for only 99¢. The sale was intended to run through the weekend, however due to high customer response these selected items are nearly sold out. To see a full list of remaining coins visit APMEX.com.

Here is a brief overview of the highs and lows for this week.

Gold:
Spot Gold prices opened this week at $912.30. The high during the week was on Wednesday, July 15th at $942.30, while the low for the week was on Monday July 13th at $907.40. Gold ended the week with a gain of $26.20 at $938.50. This week 1 oz. 2009 Gold American Eagles, 10gm APMEX Gold Bars and 1oz. APMEX Gold Bars were popular items with investors.

Silver:
Spot Silver prices opened this week at $12.66. Silver reached a high of $13.49 at the close of the market on Friday, July 17th, while the low for silver occurred on Monday July 13th, at $12.43. Silver ended the week with a gain of .78 cents at $13.44. This week 1oz. 2009 Silver American Eagles, 1oz. Walking Liberty Silver Rounds and 10 oz. Sunshine Mint Silver Bars remained extremely popular among buyers.

Platinum:
Spot Platinum prices opened this week at $1105.10, and ended the week up $72.30 at $1177.40. Many investors continue to be keenly interested in platinum. This week 2009 1oz. Platinum Canadian Maple Leafs, ½ oz. Platinum American Eagles and 1oz. Pamp Suisse Platinum Bars sold in solid numbers.

Palladium:
Spot Palladium prices opened this week at $232.15, and ended the week with a gain of $19.85 at $252.00. The most popular of these products this week are 1oz. Pamp Suisse Palladium Bars, 1oz. Credit Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
By now it must sound like a broken record, the coin market is demonstrating great strength. Last week’s Florida United Numismatists (FUN) show held in West Palm Beach, Florida was very successful and attendance was strong. Pre-1933 Gold type coins in lower mint state grades remain the topic of conversations both on the bourse floor as well as in local coin shops around the United States. Even the tiny $1 Gold coins have enjoyed the benefits of the coin market’s favorable position.

Problem free Half Cents and Large Cents in collector grades, that are reasonably priced, continue to remain the backbone of early type coins. Though the more common dates in the 1840’s and 1850’s have seen a rise in popularity, it is the early examples of these series’ that are the driving force. In addition to the success early copper has had, Bust and Seated Liberty type coinage have also seen a resurgence in popularity, especially the Seated Liberty Quarter series.

Morgan Dollars, much like early type, have remained strong in affordable grades. Common date Morgans in high grade continue their upward swing with no indication of slowing down. Even key date Morgans such as the 1889-CC (Carson City) and the 1894 dollar have benefited from the current demand!