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Why are the premiums on pre-33 gold so high now?

You can’t find a decent quarter eagle for less than $400 now, even though they only have about $200 worth of gold. Half eagles too, used to be near bullion price but now you’re paying 40 percent premiums.

Is there just more demand and more collectors now than there was 3-4 years ago?

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Comments

  • 2windy2fish2windy2fish Posts: 805 ✭✭✭✭✭

    Way more demand… most folks can’t afford an ounce of gold..so they readily buy smaller denominations

  • PerryHallPerryHall Posts: 45,392 ✭✭✭✭✭

    @mfarring said:
    Is there just more demand and more collectors now than there was 3-4 years ago?

    Yes.

    Worry is the interest you pay on a debt you may not owe.

  • pcgscacgoldpcgscacgold Posts: 2,636 ✭✭✭✭✭

    Demand popped right a few years ago. I used to win auctions at GC within 5% of melt for half Eagles and Eagles. I hope those days return.

  • MFeldMFeld Posts: 12,020 ✭✭✭✭✭

    @2windy2fish said:
    Way more demand… most folks can’t afford an ounce of gold..so they readily buy smaller denominations

    The premiums have been higher on larger denomination gold coins, as well for the past couple years or so.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • ashelandasheland Posts: 22,676 ✭✭✭✭✭

    I'm really glad I did most of my 12pc type set in 2018 and 2019!
    My 1868 $3 has almost doubled in value!

  • Cougar1978Cougar1978 Posts: 7,612 ✭✭✭✭✭
    edited November 9, 2022 1:49PM

    Pre 1933 Gold - Many hungry for Classic Issues /typesets (allure of early 20th century Gold), CC Gold $20 Libs, and widespread belief coming events (push about to come to shove) will elevate values especially spot. A friend strongly wants to build a 8 pc type set of CACG Classic gold when these come out. He says he has set aside $40k for initial investment. Hopes they will be at FUN. Says will put in nuc bids when CACG hits GC “as we will be going into a new kind of coin market.”

    At shows am seeing Demand high for coins in 1/4 oz range both classic and mods.

    I like the PCGS 69 1/4 oz AGE and $5 Mod Gold Commems. They popular sellers my table at shows. Plus like them for investment / hedge. Once u get above 1/4 oz AGW fewer can afford.

    So Cali Area - Coins & Currency
  • Wish I still had my Saint Gaudens $20 🙁

    Check out my coin blog at thecoinmaven.wordpress.com

  • It’s even the case with some foreign gold. Mexican Dos and Dos Y Medio pesos go for way more than spot now.

    Check out my coin blog at thecoinmaven.wordpress.com

  • Cougar1978Cougar1978 Posts: 7,612 ✭✭✭✭✭
    edited November 9, 2022 6:28PM

    Yes Mexico 50 Peso Gold on way up. Demand picking up for nice slabbed pieces as many working on sets. Very low pop vs US. I have a few but also chasing Revolutionary Banco notes.

    So Cali Area - Coins & Currency
  • GoldFinger1969GoldFinger1969 Posts: 1,288 ✭✭✭✭

    For Saints, the premiums to gold vary over time. Ironically, when the premium is highest is usually when it's a better time to buy (usually). Of course, you also likely do better buying pure gold than numismatic coins.

  • jmlanzafjmlanzaf Posts: 31,839 ✭✭✭✭✭

    @GoldFinger1969 said:
    For Saints, the premiums to gold vary over time. Ironically, when the premium is highest is usually when it's a better time to buy (usually). Of course, you also likely do better buying pure gold than numismatic coins.

    You're a little late answering. Lol. In fact, the premiums have come down since the initial post

  • GoldFinger1969GoldFinger1969 Posts: 1,288 ✭✭✭✭

    @jmlanzaf said:

    @GoldFinger1969 said:
    For Saints, the premiums to gold vary over time. Ironically, when the premium is highest is usually when it's a better time to buy (usually). Of course, you also likely do better buying pure gold than numismatic coins.> >

    You're a little late answering. Lol. In fact, the premiums have come down since the initial post

    I thought the chart might be useful for future reference. :)

    Premiums for Saints at least weren't that high heading into Covid.

  • jmlanzafjmlanzaf Posts: 31,839 ✭✭✭✭✭

    @GoldFinger1969 said:

    @jmlanzaf said:

    @GoldFinger1969 said:
    For Saints, the premiums to gold vary over time. Ironically, when the premium is highest is usually when it's a better time to buy (usually). Of course, you also likely do better buying pure gold than numismatic coins.> >

    You're a little late answering. Lol. In fact, the premiums have come down since the initial post

    I thought the chart might be useful for future reference. :)

    Premiums for Saints at least weren't that high heading into Covid.

    Yes, they are still higher than 3 years ago.

  • BillJonesBillJones Posts: 33,474 ✭✭✭✭✭

    Gold is hot right now so some people are willing to pay premiums for pre 1933 circulated pieces.

    I have seen such pieces sell for less than melt, but it was only for brief periods. It was at a time when a lot of collectors perceived that bullion was overpriced and ready for a significant correction. I have only seen this for raw $10 and $20 pieces.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?

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