J&T Coins LLC Blog

Premiums Decline on Older Gold

Metals stocks and bullion-related coins seem to be signaling some continued weakness in gold and silver. Gold is hammering away at the lower end of its recent trading range with silver following. Thus far the $1,100 level has held. Platinum while off its high is well above recent levels on continued ETF demand.

Older U.S. eagles and double eagles have again lost premium in the most commonly traded grades and there is definite absence of any aggressive buyers in the market. High-grade and small-size issues are moderately active with some pluses and some minuses. Proof gold American Eagles are quiet with few buyers seeking them at current levels. Proof silver Eagles remain strong and business strike 2010 issues have come down in premium slightly in anticipation of large shipments available next week (about when you receive this issue). Demand remains strong for all silver-related bullion issues.

Type coins remain active with very optimistic reports regarding Seated issues of all denominations with special emphasis on scarcer dates and by variety. There is a continued scarcity of all better date Barber issues especially in grades F-12 to EF-40.

Aggressive buyers go for half cents, large cents and three cents with emphasis on the tiny silver issues, which in my opinion are much underpriced in VF to EF grades.