gold closed wed 1/8/03 on the comex 354.3 what does it mean for coins??

[michael]

will gold go higher?

does this help coins in general/?

 

what are ms64 saints going for pcgs/ngc?? are there any to be found?

are you buying pre 1933 gold coins ?

 

any comments???????????????????

 

sincerely michael

[jtryka]

michael,

 

I collect pre-1933 gold, and the price of gold impacts these coins in a few ways. For common date stuff, prices are much more tied to bullion, so you will see Saints from the 1920s in MS-63 to MS-64 pretty much track the price of gold. For scarcer dates, the prices are determined more by the numismatic value than bullion, so gold above $350 really has little impact on the price of say an 09-D, or a 13-S, or the early teens P-mint coins. The middle area, better dates like the S-mints from the teens (10, 11, 14,15, 16), the price has a little more impact as the rising tide lifts all boats, more people interested in gold may create more demand for these better dates. Grade also matters, as higher grade stuff, even for common dates, demand such a premium that gold prices have little impact. The rule of thumb, the greater the premium over melt, the lower the impact of bullion prices on the coin. As for available supply, I think the common dates are still pretty much available, though prices are volatile. The better date coins seem to have done better over the last year or so (I used to buy MS-63 Saints, 14-S and 15-S PCGS/NGC for under $400 18 months ago, now you are lucky to get them under $550), Where the common dates have moved from $350 to about $425-450 in 63. MS-64s are also available, and the premium is not that great, maybe $100 or so on common dates. The big price jump happens above 64.

 

I do believe that gold prices are heading higher, just based on fundamental supply/demand factors. However, I would caution investors on just jumpin on the bullion bandwagon. If you really believe in gold, and want an investment, just buy the metal, buy bullion, or futures/options, or stocks in mining companies. If you want a beautiful coin, buy classic gold, and keep in mind that bullion price is only one of many factors impacting the price of the coin. Like any coins, I would advise a focus on the investment side of this, as that is a sure formula for disappointment. As for impact on coins in general, well it can't hurt!

[Gunsmoke]

I just bought a 1908 no motto NGC MS 64 Saint for $521. Very nice coin. A month ago I was able to get one for $475.

 

I have bought three total in the last couple of months and the one thing I noticed is the consistency of grading. They are all NGC and all MS 64 and are identical to one another.

 

A co-worker just got a PCGS MS 64 at a coin show for $550. While its grade may be a 64 it did not have the eye appeal that my NGC coins do.

[Oldtrader3]

Good post. I believe that most generic gold moves up or down roughly tied to the price of bullion, plus whatever profit margin is added. I have noticed that common date gold Saints have risen just in the last few months. I was buying common date Saints for retail at around $400-$450 six months ago. Now these same generic Saints have risen to $525-$575 retail.

 

The more rare gold coins will also rise, driven by their difficulty to acquire. Dealers are already complaining about not being able to buy any better date gold, with customer orders going unfilled. I sold some duplicates about 2 weks ago and received 10% over Gray Sheet pricing on these coins.