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Eagle Premiums Return to Normal Levels
By Harry Miller

A 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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