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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

September 28, 2009

Gold at $1,000 and Looking for Direction

     The Whitman Coin and Currency Show exceeded most expectations. There were over 400 bourse tables for this first time show and the majority of dealers have already signed up for next year. There appeared to be a constant stream of collectors roaming the show all the way to closing. The public was quite impressed and dealers had high praise for the show promoters.

     The overall market appears to be more positive especially for earlier Classic coins. Collectors are looking for bargains but they are buying when they feel the price is appropriate for the grade. The Moderns Wholesale Market Dealer Price Guide exhibits a mixed market with numerous declines for some MS and Proof 70 issues. We are finding more of these declines because of an increase in the populations of available coins. This is especially so for Modern Commemorative Dollars and $5 Gold.

     Buffalo Gold is still a hot series. Dealers are constantly looking for all dates and grades and will pay premiums if they are in the original government packaging. There is a long list of increases in the Buffalo chart. Modern $10 Gold is very active and shows mostly higher Market prices. All the Modern Bullion coins are a function of the metals and direction is key for the next month. If Gold cannot hold above the $1,000 mark, then many analysts feel it can test back near $950. On the upside, if it cracks through $1,030 then it could just shoot toward $1,100. The Market price of the UHR has drifted lower due to an increase in the number of coins being sold by the Mint. It looks like the real collector value in these coins will be in the Early Release coins.

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NumisMedia Weekly Archive
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