Why are the premiums on pre-33 gold so high now?
mfarring
Posts: 9 ✭
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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Way more demand… most folks can’t afford an ounce of gold..so they readily buy smaller denominations
Always-- supply and demand! I am buying them because of fiat currency worthlessness in reality (Inflation). You can increase the fiat money supply to infinity. You cannot increase the pre-1933 gold coin supply.
Yes.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
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.
I have not seen cheap (i.e. melt, or close) gold in a long time. Well, except on offers to buy gold...
Cheers, RickO
I'm really glad I did most of my 12pc type set in 2018 and 2019!
My 1868 $3 has almost doubled in value!
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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.
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
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.
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.
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.