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Gold coins sold out at US Mint PDF Print E-mail
Written by Wang Zen   
Friday, 12 October 2007

The 2007 1 ounce Gold coins are sold out at the US Mint: 

American Buffs sold out:
 http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=0500

Also American Eagle 1 ounce:
 http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10001&storeId=10001&categoryId=10118&langId=-1&parent_category_rn=10191&top_category=10191

 Considering the current price of gold is $748, it's no wonder.  The American Buffalo coin was $825.95 and the American Eagles were $789.95. The thing is: Coins have a value beyond the melt amount. They are limited in quantity and have collection value, so coins often sell for more than the spot price of gold. Now, the US Mint only prints 200,000 American Buffalo's, but they were available a week ago, and now they aren't, so I'm thinking some deep pocketed investor hoovered them up.

 Here's some recent prices for American Buffalo:

I see online the price has already gone up:

American Buffalo: $875 (6% increase in a month)

American Eagle: $820 (3.8% increase after a week)

 As you can see, they are already above the price of an ounce of gold, and I anticipate that they will continue to rise as the price of gold rises. Why does Gold rise?  I'm not an expert, but here are a few items to consider:

  • It's a precious metal (rare)
  • It's used in many applications (It has inherent demand)
  • It's a collectible
  • It is a dollar hedge, as the dollar value falls, gold price rises.
  • It's real

 

What do I mean by "real". It's a real currency based on something with inherent value. Most dollars are not based on gold anymore, it's fiat money, in other words its value is what we agree that it has. And recently we have valued the US dollar less and less, meaning it takes more dollars to buy gold so the value of gold goes up. Oversimplification, but it works for me!

Anyway, gold as an investment is always a good idea in our current environment of persistent state of war, inflation (food and fuel) and fiat money.

I buy from the US Mint because it is safe, and it is a collectible recognized worldwide.

 

 
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