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NumisMedia Weekly Market Report
Gold Slumps Near $1,100
July 20, 2015
The downturn in metals has reached dramatic proportions as they fell to new lows in recent overnight trading. Gold dropped to as low as $1,072 before staging a comeback to the current level of $1,104. Platinum seems to be out of favor with most investors as it has collapsed in the last few weeks; it is currently at $981 after trading as low as $946. Silver is trying to maintain some balance even though it is under the $15 mark, now at $14.84.
With metals in decline, it has been difficult for buyers to decide if this is the time to buy or wait for even lower levels. This was the problem at the just concluded Whitman Baltimore Expo where potential buyers appeared to be in a quandary and it made for slower than expected sales for many dealers.
However, the concern over safety issues in the Baltimore area was a non-issue for most dealers as the Baltimore Police were everywhere and even escorted dealers to and from the Convention Center. Whitman did a great job in beefing up their own security so dealers felt at ease while attending the show.
Better date Walkers and Standing Liberty Quarters in all grades seemed to be on many want lists. Most of these mint marked dates are very elusive in XF through the AU grades. Also, attracting buyers are rare date U.S. Gold coins; low population coins remain high on the demand radar.
Stack's Bowers Galleries held the official Baltimore Auction and successful buyers were quite pleased with their winning bids. This sale featured the Twin Leaf Collection of Large Cents and the Douglas C. Kaselitz Collection, both of which contained numerous rarities from the early 1800's. One of the many highlights was the 1852 Large Cent certified by PCGS as PR65 Red; this is one of three coins known to exist in private hands and brought $105,750.
1852 Large Cent PCGS PR65 Red sold for $105,750 at the Stack's Bowers Galleries Auction in Baltimore, Maryland, July 16-21, 2015
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Another great rarity finding a new home was the 1803 Heraldic Eagle Half Dime with the Large 8; this coin grades PCGS MS65+ and has the CAC approval. This is the finest known and sold for $164,500. Below are some of the other highlights from this sale.
Date/Denomination |
Grade | Price
Realized |
| 1821 Large Cent | PCGS 64 BN CAC | $58,750 |
| 1822 Large Cent | PCGS PR64 BN | $44,063 |
| 1839/6 Large Cent Plain Hair Cords | PCGS AU55 CAC | $64,625 |
| 1839 Large Cent Booby Head | PCGS MS67 RB | $55,813 |
| 1805 Heraldic Eagle Dime 4 Berries | PCGS MS66+ CAC | $70,500 |
| 1814 Capped Bust Dime Small Date | PCGS MS66 CAC | $58,750 |
| 1828 Capped Bust Quarter | PCGS MS66+ CAC | $111,625 |
| 1795 Flowing Hair Half Two Leaves | PCGS MS63 | $123,375 |
| 1806/5 Heraldic Eagle Half | PCGS MS66 | $193,875 |
| 1807 Capped Bust Half Small Stars | PCGS MS65+ CAC | $129,250 |
| 1853 Seated Half A/R | PCGS MS66+ CAC | $94,000 |
| 1797 Draped Bust Dollar 10x6 Stars | PCGS MS64 | $182,267 |
This week's Moderns Wholesale Market Dealer Price Guide contains many declines as a result of the lower metals over the last three weeks. Beginning with Modern Eagles, just about all grades up to 69 are lower for Silver, Gold, and Platinum. The premiums for Proof Gold and Platinum coins in the OGP have been very strong up to now; it will be interesting to see if they maintain these premiums with the lower metal prices. Modern $5 and $10 Gold Commemoratives are down to $290 and $575 in MS69 but there does not seem to be a lot of sellers at these levels.
There are some positive signs in Kennedy Half Dollars and Ike Dollars. The high grades still attract Registry collectors and low pops are difficult to locate for some dates. The Accented Hair 1964 Kennedy Half remains very active in most grades with some very strong buyers in the market. The PR66 Cameo is now up to $160 Market and the PR68 Cameo is higher at $1,125. The Cameo and Deep Cameo 1965, 66, & 67 SMS coins are also strong in 65 and higher.
The Ike Dollars in PR70 have a dedicated following and a couple of them are on the rise. The 1973 S Clad Deep Cameo PR70 is up to $3,175 Market and the 1976 S Clad TII is $4,575.
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NumisMedia Weekly
Dealer Price Guides
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![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
