Weekly Market Recap 07/24/09

While the Dow Jones Industrial Average showed a bit of strength this week, it was not all good news for the stock market. Microsoft announced a billion dollar revenue shortfall that hung a damper over the entire tech sector. Meanwhile online giant Amazon.com reported a 10% decline in 2nd quarter earnings as reported by Reuters. But not all of the markets reported gloomy news. Gold prices rebounded from its lows on news of a weakening US dollar and higher energy prices, as reported by ScotiaMocatta’s Global Research.

This week, APMEX dug even deeper into the vaults and presented customers with an opportunity to buy from a large selection of products for only $9.99 or less. The sale runs through the weekend, however due to high customer response these selected items are moving fast. To see a full list of remaining coins visit APMEX.com.

Gold:
Spot Gold prices opened this week at $938.50. The high during the week was on Thursday, July 23rd at $957.50, while the low for the week was on Monday, July 20th at $937.00. Gold ended the week with a gain of $13.90 at $952.40. This week 2009 1/10thoz. Gold Maple Leafs, 1oz. Random Year Gold American Eagles and 10 gram APMEX Gold Bars were in very high demand.

Silver:
Spot Silver prices opened this week at $13.40. Silver reached a high of $13.95 at the close of the market on Friday, July 24th, while the low for silver occurred on Wednesday, July 22nd, at $13.34. Silver ended the week with a gain of $0.55 at $13.95. This week Brilliant Uncirculated Random Year 1oz. Silver Eagles, 2009 1oz. Silver Maple Leafs and 1oz. Fine Silver Buffalo Rounds sold in very strong quantities this week.

Platinum:
Spot Platinum prices opened this week at $1176.80, and ended the week up $16.50 at $1193.30. Many investors continue to be keenly interested in platinum. 1oz. Pamp Suisse Platinum Bars, 1/4oz. Platinum American Eagles and 2009 1oz. Platinum Canadian Maple Leafs continue to lead the way as the products of choice with investors.

Palladium:
Spot Palladium prices opened this week at $250.95, and ended the week with a gain of $16.00 at $266.95. This week, the most popular of these products are 1oz. Pamp Suisse Palladium Bars, 1oz. Credit Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars.

Numismatics:
Where have all the dimes gone? As time takes its toll on us, it also takes its toll on the hobby of coin collecting. Over the last 30 years, silver has experienced a somewhat uneven marketplace with high peaks and low valleys. Silver reached its peak during 1979 and 1980 due to an anomaly that will likely never be repeated. It’s most recent peak was in March of 2008, when it was over $20.00 an ounce. These peaks and valleys have significantly reduced the numbers of dimes considered to be thought of as common coins in collector grades. These coins are now becoming scarce due to their bullion content. Mercury Dimes, always a hit with collectors, are especially in short-supply as these lower grade examples are traded strictly as bullion now. However, even though this is now becoming a tougher series to collect in circulated grades, the key dates such as the 1916-D are still most commonly found on the bourse floor in Almost Good-3 to Very Good-10 grades.

Although the future price of silver is unknown, one thing that is known is that nearly all Type coin prices are strong. Problem free examples, of course, have enjoyed the most success though ones with minor defects that are reasonably priced are also being purchased. Two Cent Pieces, especially in circulated grades, have had a tremendous run with its key dates the 1864 Small Motto, and the 1872, when found, still commanding high premiums.

Classic Commemoratives are continuing to pick up steam too as nearly all are commanding strong prices. This set, even in high grade, is very affordable and attainable. Classic Commemorative Memorabilia, though always bringing strong prices, have only become scarcer as these articles have either deteriorated due to lack of proper preservation or they have been lost to time.