By Richard Giedroyc
Silver rather than gold is where the action is! Gold bullion and readily available business strike gold coins prior to 1933 are holding their own following a significant price run-up to an all-time record for gold. It now appears silver is doing more than just catching up.
The spot price of silver has a long way to go to reach an all-time record of about $50 an ounce, but silver American Eagles and bullion-impacted common silver coins issued through 1964 are rising quickly in price as is the spot price of their content. This, in turn, raises the question of how far this bullion impacted coin market may go.
The precious metals rally so heavily impacting so many intrinsic value coins is being driven by declining U.S. government bond returns, which suggest interest rates will remain low. Adding fuel to the numismatic fire, the mint is now asking dealers to provide their 10-day and 90-day forecasts for demand in order to plan production priorities.
It has been learned the recent mint release of backdated bullion coins to dealers included First Spouse gold, but which spouses is not clear. Once more information becomes available it can be determined if some of these are the scarcer coins, which would likely impact their values.
Left trailing in the dust is the scarce to rare coin market sector. Scarce to rare coins have been recently experiencing very strong prices, however, these coins are still for the most part remaining within predictable trading ranges rather than setting new price records. Nonetheless, these coins remain popular with collectors.
The post U.S. Mint Asks Dealers for Coin Forecasts appeared first on Numismatic News.
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