Newly minted American Eagle gold, silver coin demand reaches 11-year low
derryb
Posts: 36,947 ✭✭✭✭✭
"Lackluster sales of new U.S. Mint American Eagle gold and silver coins came as investors concentrated on buying more older coins at lower premiums, U.S. dealers said. During summertime, premiums for backdated one-ounce American Eagle gold coins sank to as low as 1.2 percent over spot prices. That premium has since rebounded to about 2.5 percent above spot gold prices, still less than 2018-minted gold coins, which sell for up to about 3.25 percent above spot prices, said Katie Cooper, a trader at Upstate Gold Coins in Fayetteville, New York."
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
0
Comments
Never understood the premiums many sellers ask for re "backdated bullion". Some buyers pay it too. Is an eagle dated from the 1980's really worth more than recent dates?
If you are filling holes in a collection, yes, Otherwise no.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Trivia question , when did the mintage of these dead common coins pass the number of remaining morgans , i.e. total mintage - officially melted? I would say you no longer need to subtract the melted morgans as ASE's now outnumber the original minted number of morgans. Maybe peace dollars also.
I try to help....
Guess I need to buy more... Cheers, RickO
Good sign.
Knowledge is the enemy of fear
"Gold just sits there"
Who's quote ?
Buffett.