Silver Buy Recomended

King World News:

“…A Shocking Surprise In The Silver Market
With respect to the silver situation, JP Morgan and their allies are digging in to prevent a breakout in the silver price and are shorting unprecedented amounts of paper silver in their efforts.  Previously this was always a precursor to a sharp takedown in the price as the long speculators got flushed.

However, something feels different this time.  And just as Andrew Maguire referred to a near commercial signal failure in the gold market in his KWN interview this weekend, we may be close to just such an event in the silver market.  I have believed for a long time that silver was the cartel’s biggest problem due to a lack of above ground physical inventory…”1_53a857bc42c74


Fed Driving Metal Prices Down

The current discussion of raising interest rates in Dec has caused downward pressure on Gold as it has been doing since 2011. We expect 4th Quarter data to be good and further drive prices down. Currently the market is moving in the opposite direction of the herd. Gold prices did not start to trend down until the majority of hedge fund managers went long in the future’s market. This combined with the latest Fed statements is what is driving the market down this week.

What’s Happening With Gold?

There are a couple seasonal and technical factors driving gold right now. October is one of the high seasons for gold consumption. The third week of every month has heavy short covering on Futures Contracts. This month we have seen the seasonal buying and short covering drive the prices past the 20, 50 and 100 day moving averages, this stimulates more buying. Starting the 23rd of October traders have seen December Gold Contracts move upwards 12 of the last 15 years.


Key Date Morgan Dollar Guide

If you are looking to sell your Morgan Dollars it’s best to understand where to find the mint mark and have a good idea of what the key dates are in circulated condition. We have created a list here to help you when you are dealing with someone who won’t share the information with you. We at J. Austin believe in transparency so we have made a quick list of key date coins in Very Good to Extra Fine condition below. The mint mark is found on the reverse of coins below the eagle as shown in this photo. mmcarsoncity

The coin shown was minted at the Carson City mint in Carson City Nevada between 1878 and 1893. As a general rule due to the mint not existing any more and the history behind it, Carson City mint marks demand a premium in any condition. Keep in mind scratched and cleaned coins are often counted as culls and have lower collectible premiums. For example if you take a pristine mint state Morgan that is toned and dip it in jewelry cleaner you could change the value from $40 down to $18 with one dip. More expensive coins can have more severe value drops.

Key Date Quick Guide:

1. All Morgans with a CC mint mark are semi key to key date and are worth more.

2. All coins in Fine or better condition 1892 through 1895 are more valuable

3. S mint marks in higher grades tend to have better premiums

4. 1899, 1901, 1901-S, 1902-S all 1903 date coins and 1904-S in higher grades

This list is by no means comprehensive but gives you a quick start guide.