The World Bank lowered its global growth forecast and cautioned that developing countries will face difficulty recovering from the current economic slump. Furthermore, the World Bank said that a global economic recovery is still uncertain.
This news coupled with the Obama administration's announcement that the national unemployment rate will top 10% within the next few months prompted a broad sell off in stocks early in the week. Late in the week, a weakening U.S. Dollar and firmer oil prices raised the appeal of precious metals as a potential inflation hedge. Metals prices will be tested in the coming week as investor sentiment for the market and economy at large is still inconclusive.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $935.10. The high during the week was on Friday, June 26, at $949.30, while the low for the week was on Tuesday June 23rd at $913.20 Gold ended the week up a bit at $940.20. This week 1 oz. 2009 Gold American Eagles, 1/10 oz. Gold Maple Leafs, 1 oz. Pamp Suisse Gold Bars and 1 oz. 2009 Gold Maple Leafs were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $14.19. Modest trading pushed spot silver to a high of $14.35 on Friday, June 26th, while the low for silver occurred on Tuesday June 23rd, at $13.59. Silver ended the week at $14.12. 1 oz. 2009 Silver American Eagles, 1 oz. Walking Liberty Rounds, 1 oz. Buffalo Rounds and 1 oz. 2009 Silver Maple Leafs were all popular items at APMEX.com.
Platinum:
Spot Platinum prices opened this week at $1212.00, and ended the week up at $1212.50. . Investors were eager to purchase Platinum products this week. The most popular of these items were: 1 oz. 2009 Platinum Maple Leafs, 1 oz. Credit Suisse Platinum Bars and 1 oz. Pamp Suisse Platinum Bars.
Palladium:
Spot Palladium prices opened this week at $246.90, and ended the week with a small gain at $248.55. Palladium products continue to be in great demand. The most popular of these products this week are; 1 oz. Pamp Suisse Palladium Bars, 10 oz. Palladium Pamp Suisse Bars and Random Year 1 oz. Palladium Canadian Maple Leafs.
Numismatics:
The Baltimore Coin and Currency show was greeted with an even better reception now that it has become more accessible. The foot traffic at the show was strong which only attests to the fact that the coin market is strong and only strengthening. The yellow metal continues to sell well whether it be $1 Gold right up through $20 Saints.
With news of new varieties and doubled dies of Lincoln Cents being found in the newest addition to the series, the 2009 coins, they remain one of the most sought after and purchased items in all of numismatics. Perhaps because of this frenzy Early Lincolns as well as Indian Head Cents have been extremely popular as nearly every key date in both series’ has caught fire. Mercury Dimes continue to sell well with nice white full-banded examples in MS-64 or better being the prime cut on most want lists.
In addition, Classic Silver Commemoratives, are still strong with the Albany and Stone Mountain Commemoratives in higher grade selling particularly well.
Weekly Market Recap 06/19/09
Early this week, G-8 Finance Ministers agreed the US Dollar would continue as the world’s dominant currency. This resulted in the worse losses for precious metals in more than a month. The rising US Dollar and the release of the US Governments plan to reorganize financial market regulations further contributed to mid-week losses. Even with these large scale events, metal pricing should move within a fairly tight band until more defined economic growth provides a definite direction in the precious metal market.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $940.30. The high during the week was on Thursday, June 18, at $944.00, while the low for the week was on Monday June 15th at $926.50 Gold ended the week down a bit at $935.00. This week, 2009 1 oz Gold American Eagles, 1/10th oz. Random Year Gold Eagles and 1/10 oz. Random Year Gold Maple Leafs, were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $14.85. Active trading pushed spot silver to a high of $14.87 on Monday, June 15, while the low for silver occurred on Wednesday, June 17, at $13.93. Silver ended the week down a bit at $14.25.2009 BU Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples and 1 oz. Fine Walking Liberty Silver Rounds were all popular items at APMEX.com.
Platinum:
Spot Platinum prices opened this week at $1255.00, and ended the week down at $1212.50. . Investors were eager to purchase Platinum products this week. The most popular of these items were:1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $252.00, and ended the week at $251.00. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!
Numismatics:
Reports from the Baltimore Coin and Currency Convention have brought back mixed reviews in terms of its attendance and retail sales. Although this may not be a true indication of where the market is headed, as the summer months are traditionally a slower period for coin collecting. Precious metals prices have softened over the past week which normally doesn’t help any coin show. Pre-1933 Gold continues to hold strong with both $2 1/2 and $5 Gold Indian Coins in Mint State selling particularly well.
As is the case for most East Coast coin shows, copper coins were abundant and on most want lists. Early American Copper such as Half Cents, Large Cents and key date early Lincoln Cents are wanted by virtually every dealer! This reaffirms the fact that copper coins have been leading the numismatic side of the coin business for some time now with no signs of letting up.
Type coins’ popularity continues to grow, especially in the Dollar denomination, with Bust and early Seated material doing most of the talking. Any coins, whether raw or certified, and with a reasonable price tag are beginning to find new homes in numerous collections.
Classic Commemorative coins with lots of flash and eye appeal have been holding strong in their price ranges even in MS-66 grade. Although there are 144 silver coins in a complete set, this continues to be one of the most affordable, and underrated, sets in all of numismatics!
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $940.30. The high during the week was on Thursday, June 18, at $944.00, while the low for the week was on Monday June 15th at $926.50 Gold ended the week down a bit at $935.00. This week, 2009 1 oz Gold American Eagles, 1/10th oz. Random Year Gold Eagles and 1/10 oz. Random Year Gold Maple Leafs, were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $14.85. Active trading pushed spot silver to a high of $14.87 on Monday, June 15, while the low for silver occurred on Wednesday, June 17, at $13.93. Silver ended the week down a bit at $14.25.2009 BU Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples and 1 oz. Fine Walking Liberty Silver Rounds were all popular items at APMEX.com.
Platinum:
Spot Platinum prices opened this week at $1255.00, and ended the week down at $1212.50. . Investors were eager to purchase Platinum products this week. The most popular of these items were:1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $252.00, and ended the week at $251.00. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!
Numismatics:
Reports from the Baltimore Coin and Currency Convention have brought back mixed reviews in terms of its attendance and retail sales. Although this may not be a true indication of where the market is headed, as the summer months are traditionally a slower period for coin collecting. Precious metals prices have softened over the past week which normally doesn’t help any coin show. Pre-1933 Gold continues to hold strong with both $2 1/2 and $5 Gold Indian Coins in Mint State selling particularly well.
As is the case for most East Coast coin shows, copper coins were abundant and on most want lists. Early American Copper such as Half Cents, Large Cents and key date early Lincoln Cents are wanted by virtually every dealer! This reaffirms the fact that copper coins have been leading the numismatic side of the coin business for some time now with no signs of letting up.
Type coins’ popularity continues to grow, especially in the Dollar denomination, with Bust and early Seated material doing most of the talking. Any coins, whether raw or certified, and with a reasonable price tag are beginning to find new homes in numerous collections.
Classic Commemorative coins with lots of flash and eye appeal have been holding strong in their price ranges even in MS-66 grade. Although there are 144 silver coins in a complete set, this continues to be one of the most affordable, and underrated, sets in all of numismatics!
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Weekly Market Recap 06/12/09
Precious metals saw a bit of a withdrawal in pricing late in the week as the US dollar firmed and equities stocks were more stable. This late week activity eroded early week gains as well as some of metal’s appeal as an alternative investment. However, with no clear direction or firm trust in the market, precious metals continue to be one of few beneficial investment avenues for savvy market players. Metal’s pricing also historically follows oil prices which saw a decline this week triggering across-the-board selling in the commodities market. Looking ahead following a nearly flat week, investors await any news from the G8 finance minister’s conference over the weekend that might give any insight into the market’s direction.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $950.90. The high during the week was on Wednesday, June 10, at $966.70, while the low for the week occurred at the close of the market on Friday June 12th at $940.20 Gold ended the week down a bit at $935.60. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, and 1 ounce Pamp Suisse Gold Bars, were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $14.91. Very active trading pushed spot silver to a high of $15.54 on Thursday, June 11, while the low for silver occurred on Monday, June 8, at $14.73. Silver ended the week at $14.87.2009 BU Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples and 1 oz. Fine Walking Liberty Silver Rounds were all popular items at APMEX.com. Walking Liberty Silver Rounds were offered to our customers for only .89 cents over spot in any quantity this week. We hope you were able to take advantage of this great pricing.
Platinum:
Spot Platinum prices opened this week at $1234.00, and ended the week up at $1260.20. Platinum had a gain of $26.20 through the week. Investors were eager to purchase Platinum products this week. The most popular of these items were:1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $252.00, and ended the week with a gain of $5.50 at $257.50. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!
Numismatics:
With the Long Beach Coin Show now in the rear view mirror, all eyes are set on the Baltimore Coin & Currency convention as the coin market’s stability will be tested once again. Though the summer usually brings a lull in the coin market, this year has already seen positive signs that this will not be the case. The coin market has been extremely active thus far with Pre-1933 gold leading the way. Although Gold Spot has dropped some over the last week, examples grading MS-63 and better are still in high demand. Ancient coins have also seen a flurry of activity regardless of their metal content.
All Type coins from Two Cent Pieces to Seated Dimes to Bust Halves have all enjoyed accelerated sales due to their growing popularity and scarcity in high grade. All coins with the coveted Carson City mint mark (“CC”) remains strong no matter what the denomination. Furthermore, Indian Head Cents continue to heat up with both the 1908-S and 1909-S continuing to climb in value.
As this is the year of Lincoln, nearly anything with his likeness is in demand including the Illinois Statehood Quarters , which have caught fire. Early Bust Dollars and common date Morgan Silver Dollars continue to sell well. Morgan Dollar VAM varieties are very strong also, with TOP-100 varieties being the most popular.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $950.90. The high during the week was on Wednesday, June 10, at $966.70, while the low for the week occurred at the close of the market on Friday June 12th at $940.20 Gold ended the week down a bit at $935.60. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, and 1 ounce Pamp Suisse Gold Bars, were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $14.91. Very active trading pushed spot silver to a high of $15.54 on Thursday, June 11, while the low for silver occurred on Monday, June 8, at $14.73. Silver ended the week at $14.87.2009 BU Silver American Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples and 1 oz. Fine Walking Liberty Silver Rounds were all popular items at APMEX.com. Walking Liberty Silver Rounds were offered to our customers for only .89 cents over spot in any quantity this week. We hope you were able to take advantage of this great pricing.
Platinum:
Spot Platinum prices opened this week at $1234.00, and ended the week up at $1260.20. Platinum had a gain of $26.20 through the week. Investors were eager to purchase Platinum products this week. The most popular of these items were:1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $252.00, and ended the week with a gain of $5.50 at $257.50. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!
Numismatics:
With the Long Beach Coin Show now in the rear view mirror, all eyes are set on the Baltimore Coin & Currency convention as the coin market’s stability will be tested once again. Though the summer usually brings a lull in the coin market, this year has already seen positive signs that this will not be the case. The coin market has been extremely active thus far with Pre-1933 gold leading the way. Although Gold Spot has dropped some over the last week, examples grading MS-63 and better are still in high demand. Ancient coins have also seen a flurry of activity regardless of their metal content.
All Type coins from Two Cent Pieces to Seated Dimes to Bust Halves have all enjoyed accelerated sales due to their growing popularity and scarcity in high grade. All coins with the coveted Carson City mint mark (“CC”) remains strong no matter what the denomination. Furthermore, Indian Head Cents continue to heat up with both the 1908-S and 1909-S continuing to climb in value.
As this is the year of Lincoln, nearly anything with his likeness is in demand including the Illinois Statehood Quarters , which have caught fire. Early Bust Dollars and common date Morgan Silver Dollars continue to sell well. Morgan Dollar VAM varieties are very strong also, with TOP-100 varieties being the most popular.
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Weekly Market Recap 06/05/09
Investors continue to seek protection in precious metals. The weakening U.S. Dollar, additional borrowing from the U.S. Government and threatened treasuries make precious metals a valuable safe-haven. Major Asian Banks announced mid-week the continued purchasing of U.S. treasuries helping the U.S. Dollar stabilize a bit. Rising interest rates, energy stocks and commodities fueled a late week rally in the market despite disappointing May sales reports from big retailers.
Here is a brief synopsis of the highs and lows in the market and an overview of our very popular bullion and numismatic products here at APMEX.com.
Gold:
Spot Gold prices opened this week at $981.00. The high during the week was on Wednesday, June 3rd, at $992.10, while the low for the week occurred on Friday, June 5th at the market close of $955.60. Gold ended the week down $25.40 at $955.60. This week, 2009 1 oz Gold American Eagles, 2009 Gold Canadian Maple Leafs, and 1 oz. Random Year Gold Krugerrand, were all very popular items at APMEX.com.
Silver:
Spot Silver prices opened this week at $15.76. Steady trading pushed spot silver to a high of $16.25, on Wednesday, June 3rd, while the low for silver occurred on Thursday, June 4th, at $15.12. Silver ended the week down 39 cents at $15.37. 2008 and prior 1oz. Silver Eagles, 1 oz. Silver Buffalo Rounds, 2009 Silver Canadian Maples, and 2009 1oz. Silver Philharmonic’s were all in high demand this week.
Platinum:
Spot Platinum prices opened this week at $1197.20 and ended the week up at $1273.00. Platinum had a gain of $75.80 through the week. Investors were eager to purchase Platinum products this week. The most popular of these items were: 1 oz. Platinum Pamp Suisse Bars, 1 oz. Scotiabank Platinum bars, 1 oz. Platinum American Eagles and 2009 1 oz. Platinum Canadian Maple Leafs.
Palladium:
Spot Palladium prices opened this week at $239.95 and ended the week with a gain of $19.05 at $259.00. Palladium products continue to be in great demand. To view APMEX’s Palladium products please click here as they are on a slight delay!
Numismatics:
The Long Beach show proved to be a very positive indication of where the market is headed. Many dealers believe that the coin market is finally strengthening after its sub-par performance over the past year or so. With the price of metals climbing as high as they have gone, it is no wonder all eyes have turned to Pre-1933 Gold. While Gold is again flirting with $1,000 an ounce, nearly all Pre-1933 Gold in higher grade has been at the top of everyone’s want list. Silver has also been on the upward curve. Generic Morgan Silver Dollars were very active this week with brisk sales due to the run-up in silver.
Though the metals have taken up most of the headlines, the 2nd Lincoln Cent of four this year, the Formative Years, has been doing quite well as prices are more reasonable than when the Birthplace Cent was first released. Many have already been found in circulation! Early Lincoln Cents continue their upward trend while Flying Eagle Cents seem to be jumping into the action as well. Early Mercury Dimes with Full Split Bands and Walking Liberty Half Dollars are also continuing to hold strong. Select Classic Commemorative Half Dollars continue to perform well in higher grades.
Though the metals have taken up most of the headlines, the 2nd Lincoln Cent of four this year, the Formative Years, has been doing quite well as prices are more reasonable than when the Birthplace Cent was first released. Many have already been found in circulation! Early Lincoln Cents continue their upward trend while Flying Eagle Cents seem to be jumping into the action as well. Early Mercury Dimes with Full Split Bands and Walking Liberty Half Dollars are also continuing to hold strong. Select Classic Commemorative Half Dollars continue to perform well in higher grades.
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