The Price Of Gold Today

June 26, 2009 by · Leave a Comment
Filed under: Uncategorized 

Gold has risen for the last 3 days and if it rises today it will signal the end of a downward trend starting from a peak this month of around $980 per ounce. Gold closed yesterday at $937.25 per ounce and the current price of gold today is $942.70 as of the publishing of this post.

Current hot selling gold coins are the 2009 Ultra High Relief St Gaudens coin and the recent $50 price drop has spurred continued interest in this unique and beautiful coin. The US Mint recently started shipping these coins again on June 24th so collectors should start seeing them more readily available and they should start showing up in higher numbers on eBay.

If you are interested you better grab one soon before the bidding on eBay starts to go up.

Price Increases On US Mint Gold Coins

June 16, 2009 by · Leave a Comment
Filed under: Gold Coins 

Due to recent price increases on gold, the US Mint has increased its prices on some of the more popular gold coins it manufactures. The Ultra High Relief $20 St Gaudens Gold coin as well as First Spouse gold coins will rise in price by a fairly significant amount.

Ultra high relief coins will go up by $50 each and First Spouse coins will go up by $25 per coin. At the time of this pricing on June 2, 2009, gold was a bit above $950 an ounce and has since dropped approximately $20 and ounce, but the Mint has not seen fit to drop the price on these 2 coins. 

Gold remains highly volatile because of current economic conditions, but should be going up as the United States Government continues to rack up unprecedented debt and monetize that debt by printing an endless supply of cash. Unfortunately the Obama administration hasn’t yet figured out that just printing more money could bring about hyperinflation. This isn’t such a bad thing for the price of gold because it should go through the roof, however, hyper inflation is never a good thing and will bring on much more economic pain.

If you want to get in on the First Spouse collectible coin or buy a few Ultra High Relief St Gaudens Gold Coins before only those with lots of money can afford them, you can still find them at pretty good prices on eBay. Just click on the links above to be directed to our eBay listings to see what’s available.

1933 Gold Double Eagles Still In The News

June 10, 2009 by · Leave a Comment
Filed under: Gold Coins 

Currently there is only 1 1933 St Gaudens Gold Double Eagle coin in the world that is legally available to be owned and sold and that is the world’s most valuable coin with an estimated worth of over $8 million. What makes this coin so unique is the story behind it and the simple fact that there is only 1 1933 coin available.

However, all that could change if the Pennsylvania Joan Langboard family gets their way and has 10 of these ultra rare coins returned to them after the Secret Service seized them in 2004 while the owners were trying to have them authenticated. Recently PNG has filed an Amicus Brief in the case challenging the government’s stance that these coins are not legal tender.

PNG’s position is that:

WHETHER 1933 DOUBLE EAGLES ARE “UNITED STATES COINS” DOES NOT DEPEND ON WHETHER THEY WERE LEGAL TENDER WHEN THEY WERE MADE

Because:

THE GOVERNMENT’S PAST PRACTICE WITH RESPECT TO ALL OTHER NON-ISSUED COLLECTIBLE COINS IS INCONSISTENT WITH ITS POSITION IN THIS CASE

I’d have to say the PNG certainly has a point however, if these coins are returned to their owner and consequently made into legal tender it could have a negative effect on the price of the Kink Farouk gold coin that was sold back in 2002 for $7.6 million.

These coins will still be worth millions because of their rich history and extreme scarcity, but probably not anywhere near the $7.6 million price. Obviously 10 of these coins at that price would sell for over $75 million. If these coins are eventually returned to the family that claims ownership, they will definitely be a valuable treasure and who knows, maybe one day they will be up for sale. If that happens and you plan on grabbing one of these treasures, you better have very deep pockets.

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