Eagle Premiums Return to Normal Levels
By Harry Miller
London-based precious metals consultant often
cited by the World Gold Council says gold for
jewelry use is off around 25 percent worldwide.
That is worrisome to many since jewelry
traditionally is 70 percent of global usage.
Gold has held over $1,150 for nearly a week,
although it does seem to be under selling
pressure. Silver is up 2 percent with platinum
up 1 percent.
Silver and gold Mint State American Eagles are
finally near their traditional long-term
premiums. Proof silver Eagles are steady, while
their gold big brothers are up significantly,
but with real buyers somewhat scarce. This no
doubt is the result of the April 15 IRS deadline
for inclusion in last year’s self-directed IRAs.
Proof platinum Eagles are on the rise and should
be a better bet at than gold.
Type U.S. gold issues are a little mixed, but
the predominant direction is upward. There has
been a fair amount of activity in other U.S.
type coins as well. Large cents have had a good
deal of recent activity with most overdates and
popular collectible varieties on the move as
well as issues of the 1820s through the mid
1830s. This has been in the lower grade ranges
of G-4 to VF-20 and they have been joined by the
3-cent silver issues. Promotional demand is
primarily responsible for the latter and is
joined by low-grade 20-cent pieces.
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