Premiums on $20 double eagles...
jkrk
Posts: 913 ✭✭✭✭
Quite a bit higher than a year ago.
Why?
My thoughts.. possibly....
1)Fewer coin shows?
2)Quite a bit of excess money around?
3)People have not been spending and after a year just want to buy something they like?
Anyone have a handle?
0
Comments
b
D) Prices were historically and unreasonably low in the first place
I think also there’s some hedge based on gold’s volatile price in recent months.
I like where gold is heading right now, lower. I might be able to buy more if it keeps going down
TurtleCat Gold Dollars
If you're talking bullion level $20s, its because the premium on most bullion has crept up. Physical PMs have been a little scarce recently.
As someone that has been accumulating pre-1933 gold over the past 5 or 6 years, premiums have been moving higher even prior to pandemic and major gold price increases. Most of my purchases were in the $1000-$1200 levels but even at pre-pandemic levels there was room for profit IMHO. My purchases are nearly all local around the Detroit area and up until about 6 months before the Pandemic hit I was finding plenty of $5 and occasional $10 and $20 at just above bullion. Gold $1 and $2 1/2 always carried a higher premium.
Purchases were at local coin shows, LCD and various coin/resale/jewelry related businesses where I have developed contacts. I have not purchased since the coin shows stopped running and gold went crazy over $2000... until yesterday. I started a thread early last year and a number here whizzed all over the idea of ever seeing premiums on these coins again:
https://forums.collectors.com/discussion/1031456/under-valued-us-pre-1933-gold-issues-will-values-improve#latest
I still believe any pullback in gold at this point will only be a opportunity for one willing to be patient. Any pullback will allow the chance to purchase coins to enjoy and see an eventual profit when the time comes to sell. It is only a question of when, NOT IF, the dollar takes it's well deserved lumps due to spineless government actions and greed. I always accepted the idea that my gold purchases were "insurance" not so much investment with the added bonus of accumulating some things I enjoy to own.