Wait until Thursday
If you are buying gold from the Mint, wait until Thursday or Wednesday p.m. The price on one ounce gold coins will be down $50.
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Permalink Reply by Ike on -
You will also have about a week to decide. If gold continues to drop you may want to wait until the price stabilizes or begins to rise. Of-course, if you wait to long, you take a chance the coins may sell out or no longer be offered by the mint .
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Permalink Reply by Lee Grant on -
Today shows more stability in gold than we have seen for a week. But you are correct that there is no rush to jump in on Thursday in that you can go as far as next Wednesday with the same price. But of course you are very limited as to what gold you can buy directly from the Mint. I don't even consider the spouse coins because the premium is enormous.
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Permalink Reply by Clair Alan Hardesty on -
Right now, the premium on the First Spouse coins is no more than the other gold products. Two FS uncirculated coins are $1482, two proofs are $1508. The proof Buffalo is $1460 and the UHR is $1539, so the FS coins fall right between the other two one ounce gold coins currently available..
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Permalink Reply by Liesl Kirlin on
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Gold is to easy to buy under spot right now.Why pay the mint so much over spot.I think that is insane for such a high risk.Even if gold does reach 1500.00.Then you only break even.Whats the use unless you are just trying to complete a collection.And at some point you really must ask yourself if the collection is worth all the risk just to complete it.My opinion is to buy gold under spot right now.It's just way to easy to do while the drop jitters are happening.
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Permalink Reply by sid on
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there is a greater premium over spot on first spouses, both buff and uhr are 24 kt, spouses are 22 kt, the cost per weight at purity is more .. buying at/above/below spot is relative in this volativity
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Permalink Reply by Clair Alan Hardesty on
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FS coins are 24K gold just like the other two coins. Even in the 22K coins, they are sold by gold weight, not total weight. The gold Eagles are 22K, but contain 1, 1/2, 1/4, and 1/10 Troy Ounces of gold each. The total weight of the coins is greater because of the added copper (like the Krugerands). The mint is not, and has never been, the place to buy gold if you are interested in getting the best bullion price. In fact if all you are interexted in is the price you pay for the gold, you should not even buy coins, just buy bulk 24K gold shot. Of course, when you go to sell shot, you have to pay the cost of assaying to convince the buyer that it is what you say it is. Proof coins like the Buffalos have maintained their premium over spot since their introduction and are still a good value, even when buying new ones directly from the mint. The premium for bullion Eagles tends to go up when the mint is on allocation and come back down when coins are flowing, so it is best to buy them when the mint is delivering to the large buyers. Of course, if you have enough cash and access to sellers that are willing to sell under market (or even under spot) then you have an advantage. But in that case you are just trading gold and not the least interested the coins as coins. If that is you, then you would never pay $7,000,000 for a 1933 Double Eagle which contains 0.9675 Toz of gold, but some of the people here would if they could.
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Permalink Reply by Lee Grant on
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It is Tuesday and yesterday's "stability" is gone . We are back to that down and up volatility that we have been seeing, especially in gold. The London Fix for the new purchases from the Mint will be just about in the middle of the $1100-1150 range resulting in a UHR price of $1489 and Buffalo at $1410. The UHR by law disappears on December 31,2009. The law requires that any order placed on or before December 31st must be honored. So there is not a great deal of time left to purchase one. With the current price in the middle of the range it will take a lot of movement in either direction to change the price before year-end.
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Permalink Reply by Steve W on -
Wow, are we in such rich company that a member could actually buy the 1933 double eagle? I have actually seen one in the Smithsonian exhibit the other day. Most of the onlookers had no idea of what they were seeing. I got to play "Mister Teacher" again for an increasingly interested audience.
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