This week there was very tight trading brought on by mixed signals from the major markets and mixed company reports. The combinations of all these factors don’t allow for a firm direction to be determined. The Commerce Department reported that the economy contracted 1% in the second quarter making this the fourth consecutive contraction in the economy. This is the longest economic contraction since quarterly records began in 1947. The U.S. Gross Domestic Product is down 3.9% from the second quarter of 2008 and the government will issue its final revision on second quarter GDP in September. Initial claims for unemployment benefits fell 10,000 to 570,000 in the week ending August 22, the Labor Department reported. The most startling news this week is the number of banks that are at risk according to a government report. Over 400 banks, the highest number reported in 15 years, were placed in the “at risk” category this week. The only time the FDIC has been in the red was during the savings and loan crisis of the early 1990’s. During that crisis the FDIC had to borrow $15 billion from the Treasury to correct the problem. Many market prognosticators are not optimistic!
This week, APMEX offered its customers great deals during the “APMEX-TOP 10” Sale and throughout the weekend you can take advantage of these fantastic buys. 10 of APMEX’s most popular bullion items are being offered at very low premiums but the sale ends on Monday August 31st. Make your hard earned money stretch further and don’t miss this great opportunity to save big $$$ at APMEX today!
Gold:
Spot Gold prices opened this week at $955.00. The high during the week was on Friday, August 28 at $963.40, while the low for the week was on Monday, August 24 at $939.50. Gold ended the week with a gain of $2.00 at $957.00. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1 gram APMEX Gold Bars were in very high demand.
Silver:
Spot Silver prices opened this week at $14.20. Silver reached a high of $14.90 on Friday August 28, while the low for silver was occurred on Thursday August 27, at $14.04. Silver ended the week with a gain of $0.63 at $14.83. This week 2009 – 1oz. Silver American Eagles, 1 oz. Silver Buffalo Rounds and CHEAP! Morgan &/or Peace Dollars sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1256.00, and ended the week down $6.20 at $1249.80. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.
Palladium:
Spot Palladium prices opened this week at $286.90, and ended the week with a gain of $7.70 at $294.60. This week, the most popular of these products are 1 oz. - .999 Fine Pamp Suisse Palladium Bars and 2009 – 1oz. Palladium Canadian Maple Leafs were highly sought after this week.
Numismatics:
The Carson City Mint in Carson City, Nevada, was officially approved to begin minting coins by the United States government on March 3, 1863. Due to the large number of silver mines all across the Nevada Territory, the local mine owners petitioned Congress to establish a mint in the area. Previously, all of the silver that was extracted from the area mines had to be shipped across the rugged Sierra Nevada Mountains to the branch mint in San Francisco. During that dangerous trip, the silver was extremely susceptible to theft. So, the Carson City Mint officially opened its doors on December 13, 1869 and the first coin to debut was the 1870-CC Liberty Seated Dollar. However, by the 1890’s certain Acts of Congress, outright coin thefts, and numerous political factors led the Mint Director to close the doors of that facility on June 1, 1893, thus forever sealing the legacy of the Carson City Mint. APMEX sells a wide variety of coins from the Carson City Mint that bear the coveted “CC” mintmark. Although Carson City minted many different denominations of coins, the most famous ones are part of the well-known Morgan Silver Dollar series. We carry Carson City Morgan Silver Dollars in three different presentations - uncertified coins, certified coins, and in GSA holders! In any presentation, these coins are sure to please!
Early American Copper coins such as Half Cents, Large Cents, Indian Head Cents and Lincoln Cents continue to lead the market charge in 2009. Copper has certainly made its voice heard and many of our customers have listened. Late date Large Cents are particularly selling well along with nearly every date of Half Cent ever produced. 1909, the transitional year from the Indian Head cent coins to the Lincoln cent coins, is more popular than ever with all six examples from that year selling particularly well. Even the 1908-S Indian Head Cent is extremely active in the marketplace. But as usual, key date coins and problem free examples of both series, are the coins that make a lasting impression with collectors.
Weekly Market Recap 08/21/09
This week has seen more sideways trading as the markets continue to seek a clear and definitive direction. While some are claiming the worst is over, others like Bloomberg.com report that more than 300 banks could still fail across the nation, further affecting small businesses and consumers, the real drivers of the economy. This mixed review has left many precious metals investors highly concerned about the validity of the positive reports and leery of the potential backlash of over confidence in the stock markets.
APMEX’s “The Great American Coin Giveaway” is in full swing. In fact, APMEX shipped out free coins like Silver American Eagles, 1/10 oz Gold American Eagles and 1 oz Silver APMEX rounds to the lucky winners this week. There will be more awards in the coming weeks, but you need to register to have the opportunity to win. Register for APMEX’s Great American Coin Giveaway here. Congratulations to the WINNERS from the Great American Coin Give Away! You can view winners on the contest winners page!
Gold:
Spot Gold prices opened this week at $947.50. The high during the week was at market close on Friday, August 21st at $954.20, while the low for the week was also on Monday, August 17th at $930.00. Gold ended the week up $6.70 at $954.20. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $14.73 and set its high for the week on Monday, August 17th, while the low for silver was occurred on Wednesday, August 19th, at $13.49. Silver ended the week down $0.50 at $14.23 This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1265.00, and ended the week down slightly at $1261.00. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to enjoy investors attentions.
Palladium:
Spot Palladium prices opened this week at $276.00, and ended the week with a gain of $10.25 at $286.25. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics
Though it is a fixture on all American coins and currency now, IN GOD WE TRUST did not appear on American coinage until 1864 when it graced the Two-Cent Piece. This was due in large part to the strong religious beliefs of the time during the Civil War. Secretary of the Treasury Mint Salmon P. Chase took it upon himself to affix some type of motto with the word “GOD” onto all coins. He was successful in doing so in 1865 when Congress, and the Mint Director allowed the motto to be placed on all silver and gold coins. Between the years of 1864 and 1909 it appeared on some coins while it did not appear on others. A few coins that it did appear on were the Shield Nickel , the $20, $10 and $5 Liberty Gold Coins, the Morgan Silver Dollar, the Barber Half Dollar, and the Barber Quarter Dollar. It appeared on the new Lincoln Cent in 1909 and has remained there ever since. In 1916 it became a permanent fixture on the dime and the quarter. The Jefferson Nickel, first minted in 1938, also bore that inscription. In 1956 IN GOD WE TRUST was declared the national motto of the United States. The motto first appeared on paper currency in 1957 with the one dollar silver certificate. Though it has met with some controversy, most Americans approve of the motto on United States money.
APMEX has now obtained the 2009 Denver Mint Professional Years Lincoln Cent. They are available as a single coin, as a roll, or as a 50 roll box ($25 Face Value). Next week, on August 26th, the Mint will release the 4 newly-designed 2009 Lincoln Cents in their original copper composition, just as they were released in 1909. These coins will be packaged as a four coin proof set. Their original composition was 95% copper, 3% zinc, and 2% tin alloy. Thomas Jurkowsky, Director of the U.S. Mint’s Office of Public Affairs, has stated that the sets are unlimited. The Mint has not yet disclosed a price.
APMEX’s “The Great American Coin Giveaway” is in full swing. In fact, APMEX shipped out free coins like Silver American Eagles, 1/10 oz Gold American Eagles and 1 oz Silver APMEX rounds to the lucky winners this week. There will be more awards in the coming weeks, but you need to register to have the opportunity to win. Register for APMEX’s Great American Coin Giveaway here. Congratulations to the WINNERS from the Great American Coin Give Away! You can view winners on the contest winners page!
Gold:
Spot Gold prices opened this week at $947.50. The high during the week was at market close on Friday, August 21st at $954.20, while the low for the week was also on Monday, August 17th at $930.00. Gold ended the week up $6.70 at $954.20. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $14.73 and set its high for the week on Monday, August 17th, while the low for silver was occurred on Wednesday, August 19th, at $13.49. Silver ended the week down $0.50 at $14.23 This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1265.00, and ended the week down slightly at $1261.00. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to enjoy investors attentions.
Palladium:
Spot Palladium prices opened this week at $276.00, and ended the week with a gain of $10.25 at $286.25. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics
Though it is a fixture on all American coins and currency now, IN GOD WE TRUST did not appear on American coinage until 1864 when it graced the Two-Cent Piece. This was due in large part to the strong religious beliefs of the time during the Civil War. Secretary of the Treasury Mint Salmon P. Chase took it upon himself to affix some type of motto with the word “GOD” onto all coins. He was successful in doing so in 1865 when Congress, and the Mint Director allowed the motto to be placed on all silver and gold coins. Between the years of 1864 and 1909 it appeared on some coins while it did not appear on others. A few coins that it did appear on were the Shield Nickel , the $20, $10 and $5 Liberty Gold Coins, the Morgan Silver Dollar, the Barber Half Dollar, and the Barber Quarter Dollar. It appeared on the new Lincoln Cent in 1909 and has remained there ever since. In 1916 it became a permanent fixture on the dime and the quarter. The Jefferson Nickel, first minted in 1938, also bore that inscription. In 1956 IN GOD WE TRUST was declared the national motto of the United States. The motto first appeared on paper currency in 1957 with the one dollar silver certificate. Though it has met with some controversy, most Americans approve of the motto on United States money.
APMEX has now obtained the 2009 Denver Mint Professional Years Lincoln Cent. They are available as a single coin, as a roll, or as a 50 roll box ($25 Face Value). Next week, on August 26th, the Mint will release the 4 newly-designed 2009 Lincoln Cents in their original copper composition, just as they were released in 1909. These coins will be packaged as a four coin proof set. Their original composition was 95% copper, 3% zinc, and 2% tin alloy. Thomas Jurkowsky, Director of the U.S. Mint’s Office of Public Affairs, has stated that the sets are unlimited. The Mint has not yet disclosed a price.
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Weekly Market Recap 08/14/09
This week the Federal Open Market Committee meeting on interest rates commenced. According to the committee, conditions in the financial markets still remain constrained by ongoing job losses, sluggish income growth, lower housing wealth and tight credit. The central bank will keep interest rates at close to zero which should bolster bullions’ status as a hedge against inflation.
Due to reports this week, worries of long term inflation are entering the minds of investors as a clear direction and contradictory reporting are still looming. Long term inflation will benefit bullion investors and collectors alike as the dollar continues to dive against other currencies.
This week, APMEX introduced “The Great American Coin Giveaway” to its customers. Each day over the next 30 days we will select two winners to receive a FREE Gold or Silver coin of our choice. One winner will be selected from our current customers and one winner selected from new customers. There are absolutely no strings attached to win, just register and if your name is drawn, you can simply wait for your FREE Gold or Silver coin to come in the mail. To register for your free Gold or Silver coin click here!
Congratulations to the WINNERS from the first drawing from 08/13/09 go out to:
Randy M. from Oneida, TN
David C. from Mansfield, CT
Gold:
Spot Gold prices opened this week at $954.40. The high during the week was on Thursday, August 13th at $960.52, while the low for the week was on Wednesday, August 12th at $940.60. Gold ended the week down slightly at $947.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $14.56. Silver reached a high of $15.14 on Thursday, August 13th, while the low for silver was occurred on Wednesday, August 12th, at $14.12. Silver ended the week with a gain of $0.20 at $14.76. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1266.50, and ended the week down slightly at $1261.50. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles seem to have a solid hold on the investment market as the products of choice.
Palladium:
Spot Palladium prices opened this week at $279.05, and ended the week with a gain of $1.55 at $280.60. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics:
Though Type Coins are in demand and have been for some time now, Liberty Seated Dimes may be the forgotten series. Though it is a Liberty Seated coin, some collectors may only think of the Liberty Seated Half Dollar or Liberty Seated Quarter or even the Liberty Seated Half Dime before they think of the dime. However, the dime, perhaps due to its size, is the most plentiful and easiest on your wallet. This series is the longest running dime series in United States history and has quite a few varieties. The series began in 1837 and ran until 1891 when it was replaced by the Barber Dime. When it was first minted, only a depiction of Miss Liberty, who was seated, was on the obverse. The following year 13 stars were added to the obverse. And in 1840 drapery was added to fill out the design. Its final major design change happened in 1860 when the stars were replaced with the words “UNITED STATES OF AMERICA.” Also in 1860 the mintmark was changed from above the wreath to below the wreath in New Orleans, followed by San Francisco in 1861. In 1871 the Carson City mint began producing these dimes and like most Carson City mint products, the coins were, and are, the most sought after in the series. However, with the occasional exception, this is a very affordable series with many of the later examples selling for less than $100 in Almost Uncirculated condition.
Thursday, August 13th saw the 3rd Lincoln Cent of 2009 released. This new design depicts Lincoln in his “Professional Life” as a congressman for the state of Illinois, as he is standing in front of the Illinois State Capitol building . This was one of many stepping stones taken on his road to the Presidency. APMEX will have these posted on the site as soon as we obtain them. However, APMEX offers a great selection of the previous two cents which include the Birthplace Log Cabin and the Formative Years Rail Splitter. The 4th and final design of 2009 will be released on November 12th in Washington D.C. which depicts his Presidency.
Due to reports this week, worries of long term inflation are entering the minds of investors as a clear direction and contradictory reporting are still looming. Long term inflation will benefit bullion investors and collectors alike as the dollar continues to dive against other currencies.
This week, APMEX introduced “The Great American Coin Giveaway” to its customers. Each day over the next 30 days we will select two winners to receive a FREE Gold or Silver coin of our choice. One winner will be selected from our current customers and one winner selected from new customers. There are absolutely no strings attached to win, just register and if your name is drawn, you can simply wait for your FREE Gold or Silver coin to come in the mail. To register for your free Gold or Silver coin click here!
Congratulations to the WINNERS from the first drawing from 08/13/09 go out to:
Randy M. from Oneida, TN
David C. from Mansfield, CT
Gold:
Spot Gold prices opened this week at $954.40. The high during the week was on Thursday, August 13th at $960.52, while the low for the week was on Wednesday, August 12th at $940.60. Gold ended the week down slightly at $947.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $14.56. Silver reached a high of $15.14 on Thursday, August 13th, while the low for silver was occurred on Wednesday, August 12th, at $14.12. Silver ended the week with a gain of $0.20 at $14.76. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1266.50, and ended the week down slightly at $1261.50. 1 oz. Pamp Suisse Platinum Bars, 2009 – 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles seem to have a solid hold on the investment market as the products of choice.
Palladium:
Spot Palladium prices opened this week at $279.05, and ended the week with a gain of $1.55 at $280.60. Popular products this week were 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics:
Though Type Coins are in demand and have been for some time now, Liberty Seated Dimes may be the forgotten series. Though it is a Liberty Seated coin, some collectors may only think of the Liberty Seated Half Dollar or Liberty Seated Quarter or even the Liberty Seated Half Dime before they think of the dime. However, the dime, perhaps due to its size, is the most plentiful and easiest on your wallet. This series is the longest running dime series in United States history and has quite a few varieties. The series began in 1837 and ran until 1891 when it was replaced by the Barber Dime. When it was first minted, only a depiction of Miss Liberty, who was seated, was on the obverse. The following year 13 stars were added to the obverse. And in 1840 drapery was added to fill out the design. Its final major design change happened in 1860 when the stars were replaced with the words “UNITED STATES OF AMERICA.” Also in 1860 the mintmark was changed from above the wreath to below the wreath in New Orleans, followed by San Francisco in 1861. In 1871 the Carson City mint began producing these dimes and like most Carson City mint products, the coins were, and are, the most sought after in the series. However, with the occasional exception, this is a very affordable series with many of the later examples selling for less than $100 in Almost Uncirculated condition.
Thursday, August 13th saw the 3rd Lincoln Cent of 2009 released. This new design depicts Lincoln in his “Professional Life” as a congressman for the state of Illinois, as he is standing in front of the Illinois State Capitol building . This was one of many stepping stones taken on his road to the Presidency. APMEX will have these posted on the site as soon as we obtain them. However, APMEX offers a great selection of the previous two cents which include the Birthplace Log Cabin and the Formative Years Rail Splitter. The 4th and final design of 2009 will be released on November 12th in Washington D.C. which depicts his Presidency.
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Weekly Market Recap 08/07/09
Worries about economic stability were ever present this week as the market fluctuated on mixed reporting. Early in the week The Institute for Supply Management released its Manufacturing Index Report showing a 10th consecutive month of contraction. This report is seen by investors as an indication that business is still getting worse in the U.S. and that a turnaround is not in the near future.
The American Bankruptcy Institute reported mid-week that filings jumped 34.3% from a year ago, the highest increase since the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented in 2005. This report is further proof that many Americans are still struggling to make ends meet.
Late in the week the Labor Department reported the unemployment rate fell for the first time since April 2008. This data, however, is contradictory to early and mid-week reporting, reinforcing the fact that there is still no clear direction in the market.
This week, APMEX introduced an expanded selection of Pre-1933 Gold to its customers. These beautiful numismatic coins present a great opportunity for you to add to your collection. To see a full list of Pre-1933 Gold visit click here!
Gold:
Spot Gold prices opened this week at $957.50. The high during the week was on Thursday, August 6th at $971.90, while the low for the week was on Tuesday, August 4th at $952.10. Gold ended the week with a loss of $1.10 at $956.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $13.90. Silver reached a high of $15.05 on Thursday, August 6th, while the low for silver was at the beginning of the week Monday August 3rd, at $13.90. Silver ended the week with a gain of $0.78 at $14.68. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1215.90, and ended the week up $46.20 at $1262.10. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.
Palladium:
Spot Palladium prices opened this week at $265.00, and ended the week with a gain of $14.10 at $279.10. This week, the most popular of these products are 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics:
The resurgence in the spot metal prices for gold and silver added some fuel to the fire of numismatics this week. As dealers and collectors wound their way west to Los Angeles for the American Numismatic Association’s annual summer convention, there was great anticipation about the current upward direction of the numismatic marketplace. The pre-ANA auctions all showed considerable strength for many types of coins.
Classic Commemorative coins overcame their doldrums of earlier this year and were, as one report put it, “on fire” at the pre-ANA auctions. For example, a 1926 Sesquicentennial Half Dollar in MS66 grade is wholesale bid at $16,000.00; yet one MS-66 graded example brought $43,125.00 – 2.7 times the current bid price at one of the auctions! While not all commemorative coins brought such significant premiums, many other examples sold at prices much higher than current bids.
Morgan Silver Dollars always enjoy strong collector and investor support and this week was no exception to that rule. But what is unusual is what is in demand and what is out of favor. Some of the more common dated coins are improving in price and are eagerly being sought, while many other better date coins were weaker in price. While that seems fairly unusual, such is the nature of the ever-changing coin market. Always remember that all markets are cyclical and that the coin market is no exception!
The American Bankruptcy Institute reported mid-week that filings jumped 34.3% from a year ago, the highest increase since the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented in 2005. This report is further proof that many Americans are still struggling to make ends meet.
Late in the week the Labor Department reported the unemployment rate fell for the first time since April 2008. This data, however, is contradictory to early and mid-week reporting, reinforcing the fact that there is still no clear direction in the market.
This week, APMEX introduced an expanded selection of Pre-1933 Gold to its customers. These beautiful numismatic coins present a great opportunity for you to add to your collection. To see a full list of Pre-1933 Gold visit click here!
Gold:
Spot Gold prices opened this week at $957.50. The high during the week was on Thursday, August 6th at $971.90, while the low for the week was on Tuesday, August 4th at $952.10. Gold ended the week with a loss of $1.10 at $956.40. This week 1 oz. Random Year Gold Krugerrands, 1 oz. Random Year Gold American Eagles and 1/10 oz. Random Year Gold American Eagles were in very high demand.
Silver:
Spot Silver prices opened this week at $13.90. Silver reached a high of $15.05 on Thursday, August 6th, while the low for silver was at the beginning of the week Monday August 3rd, at $13.90. Silver ended the week with a gain of $0.78 at $14.68. This week 2009 1 oz. Silver Maple Leafs, 1 oz. Brilliant Uncirculated Silver American Eagles, and 1 oz. APMEX .999 Fine Silver Rounds sold in very strong quantities.
Platinum:
Spot Platinum prices opened this week at $1215.90, and ended the week up $46.20 at $1262.10. Many investors continue to be keenly interested in platinum. 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1 oz. Brilliant Uncirculated Platinum American Eagles continue to lead the way as the products of choice with investors.
Palladium:
Spot Palladium prices opened this week at $265.00, and ended the week with a gain of $14.10 at $279.10. This week, the most popular of these products are 1 oz. .999 Fine Pamp Suisse Palladium Bars, 1 oz. .999 Fine Credit Suisse Palladium Bars, and Kilo .999 Fine Pamp Suisse Palladium Bars.
Numismatics:
The resurgence in the spot metal prices for gold and silver added some fuel to the fire of numismatics this week. As dealers and collectors wound their way west to Los Angeles for the American Numismatic Association’s annual summer convention, there was great anticipation about the current upward direction of the numismatic marketplace. The pre-ANA auctions all showed considerable strength for many types of coins.
Classic Commemorative coins overcame their doldrums of earlier this year and were, as one report put it, “on fire” at the pre-ANA auctions. For example, a 1926 Sesquicentennial Half Dollar in MS66 grade is wholesale bid at $16,000.00; yet one MS-66 graded example brought $43,125.00 – 2.7 times the current bid price at one of the auctions! While not all commemorative coins brought such significant premiums, many other examples sold at prices much higher than current bids.
Morgan Silver Dollars always enjoy strong collector and investor support and this week was no exception to that rule. But what is unusual is what is in demand and what is out of favor. Some of the more common dated coins are improving in price and are eagerly being sought, while many other better date coins were weaker in price. While that seems fairly unusual, such is the nature of the ever-changing coin market. Always remember that all markets are cyclical and that the coin market is no exception!
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