What a wild ride we had with the gold & silver market in 2011!
At our first C.A.M.P. coin show in March, 2011 gold was $1430.00 and silver hit a then all-time high of $47.00.
And business was brisk, both buyers and sellers, both dealers and collectors. On set-up night and Friday most dealers'
cases were sold out of 90% silver and silver dollars. The upswing went on through the month of April, 2011 with
silver almost breaking $50.00! Then came the beginning of May and silver dropped to $32.00 over a 3-day period.
Most dealers were selling as fast as they were buying to keep the money flowing for more deals. But then you always
have some in stock and taking a $17.00 hit on an ounce of silver was big! Not that $32.00 silver was shabby, but there
was a lot of crying and second guessing choices made in May of 2011.
Summer is usually sleepy for coins but the metals were on fire again. August 2011 bringing $1900.00 gold and $43.00 silver,
but just for a short while. If you cashed in just because you thought prices were a little "too high" - good for you.
If you bought during last year's "peak" it is time to average down.
What is a good deal now?
If you like the price of gold at today's $1620 level: circulated and lower grade uncirculated U.S. old gold coins are now trading
at very low premiums. You can by $5, $10, and $20 at barely over melt value. If you like the price of silver at today's
$28.00 level: uncirculated rolls of common silver Roosevelt dimes, Franklin halves and Washington quarters are trading little
premium over circulated 90% silver coins. Silver dollars are still the most popular and really did not see huge increases when
silver went up to the high $40's so they did not lose as much value when the metal dropped. Uncirculated rolls of silver dollars
carry a low premium right now over circulated rolls.
Don't like the prices of gold or silver at all at today's levels?
Indian & Lincoln cents, Liberty & Buffalo nickel series have seen drops over the past year on many key dates that you may like
to take advantage of. If you have the storage space non-silver proof sets and mint sets are at price so low - they are barely
over face value on many dates. There is an abundance of key dates available in the silver series'. Every showcase has
1921-PD dimes, 1932-DS quarters, and 1921-PDS, 1916-PDS halves. A few years ago these were selling like hotcakes - flying off
Semi-key date silver dollars are selling for just a few bucks over commons in almost every grade range from VG to MS-60.
Circulated and GSA cased uncirculated "CC" Morgan silver dollars are practically the same price as when spot silver was $10.00 per
ounce, and all readily available.