Why are proof Gold Eagles fetching such a high premium?
Overdate
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Has anyone noticed that proof Gold Eagles (all dates and denominations) have been selling for premiums of 55% and higher over their bullion value? The one-ounce proofs are bringing around $1500 each, even while one-ounce proof Gold Buffalos can be found for less than $1200.
Any guesses why the proof Gold Eagles are in such demand, especially when compared to proof Gold Buffalos?
Any guesses why the proof Gold Eagles are in such demand, especially when compared to proof Gold Buffalos?
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Saturday thread, same topic
My theory is that telemarketers that run the radio ads have long lists of know-nothing customers willing to pay huge premiums over melt value for the Proof eagles, as well as generic classic gold. Every major talk radio show seems to have at least one gold sponsor. That radio time costs major money. The firms make that advertising money back on the markup, often getting 2x to 3x the greysheet prices, which are already well above bullion price. The sad part is that the investors paying those kind of prices are being taken to the cleaners and don't even know it.
roadrunner