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old and silver prices are virtually identical to what they were a week ago. However, the October downturn in the stock market averages appear to place the metals in a more favorable position than they have been in for some time.
Always remember the importance of market psychology. When it is positive for metals, this can give that last little push to get in to hesitating buyers. A negative psychology can keep potential buyers on the sidelines.
This positiveness is reflected in the prices of generic gold and silver coins as well as their modern bullion relatives. Modern made-for-collector versions of bullion coins are in a separate world in which these special editions continue to sell out almost as fast as they are issued.
Older proof and mint sets continue to flat line, with little interest in them except as telemarketing products. Holiday buying will lend them support.
It is still challenging to read the trends, if there truly are any, regarding the better condition and scarcer coins. Perhaps the most consistent recent gains can be seen in 19th century minor denominations, particularly in copper composition issues. Even here there are coins that continue to decline or lag in value, but the modest upside movement is nonetheless noticeable.
I like to be a glass-half-full rather than half-empty kind of guy. It appears there may be reasons for optimism right now. The slump in the coin market has to stop somewhere. We could be seeing it now.
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