Modern Date Gold Eagles

Of interest in modern date gold eagles and having put together all denominations of eagles by mintage factors (lowest to higher and then highest), is anyone else out there thinking that the upward movement of these low mintage eagles will ascend to lofty levels? Appreciate your input. Specific dates are 1988 1989, 1990, 1996, 2004, 2005.

 

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Shhh ... don't talk up the AGEs until I get my collection caught up !

THEN let the pyramid scheme begin !

 

GDJ...Ever given much thought to the fact as gold prices ascend, the fewer buyers that are willing to pay the higher prices? My thoughts are that this will impact the retention of thousands of AGE (all denominations) for future melt and use with 06, 07 coins as the mining cost ascends as well. Remember that he who controlls the gold makes the rules! Your thoughts appreciated.

 

Hey Bacchus..better hurry..$$ is going up on the .25, .50 denominations..the .50 oz AGE for 1991 is already $750.00 to $850.00..OUCH!!!!!!!!!!!!!! Of course that is MS67 and better.

 

Gold goes up. Gold goes down. There is one camp that states as long as the population and personal individual wealth goes up so will the demand and henceforth the price of gold. Another camp will say anytime that South Africa wants to, they could dump enough gold from there already dug up reserves to crash the market. Nothing in life is a sure thing including life itself. But gold sure does look pretty

 

Most years are way less than that. My source lists 1.0 ounce for $519.

 

My dear Baccus...please let me know if you can find a .50 oz or a .25 oz 1991 GAE for under the stated prices..if so and they are in MS 68 or better I will buy them right now..please let me know...

Thanks in advance..

 

A careful study of my previous post will reveal the words "most years"; that doesn't include 1991.

 

Roughly speaking, the gold companies can manipulate the market to their benefit when they see a low dollar and/or high oil costs by basically slowing down the ore output to increase the amount of profit made as the price of gold goes up. And up it goes because of less gold on the market and as I stated a weaken dollar or high oil barral costs driving people to buy gold.
For example, Gold mining companies profits are leveraged to the gold price: For instance, look at Anglogold a small gold mining company compared to the giants of South Africa. They stated that in 1998 that the cost of production was $250 an ounce. With the gold price increase to at least $400 an ounce, Anglogold’s gross margin increased to $150 an ounce, a whopping 200% profit increase when gold went from 300 dollars an ounce to the 400 level. The other 30 or 40 dollars an ounce we could give away to inflational costs. (This is speaking in of course rounded out figures).

So as long as South Africa is somewhat stable and the dollar is weak/oil is high..I would think that gold will go up and up with of course dips along the way.

But what do I know. I was an idealist once....

 

I understand your perspective, it took me a while but I'm exisiting on three hrs sleep today and will call it the night soon to catch up some. But basically you are saying that the dollar has less buying power where the euro and pound have a higher rate of exchange and that is the differencial in price for the US.

but you are right it was off topic that is what happens when I'm multi-tasking when I'm tired, nothing gets done rithg.

 

I have watched Gold for the last 4 years and noticed the stable price, I hear rumors (speculation) of $800 oz, But I really wonder about that, I too see that low mintage is what will effect gold today.

 

RickieB,

I looked up the prices in my Redbook, and you're right, 1991s appear to be a key vintage.

Most one-tenth ounce AGEs are listed for about $55, the 1991 is $115, 1996;
most one-fourth ounce AGEs are listed for about $135, the 1991 is $260;
most one-half ounce AGEs are listed for about $260, the 1991 is $700;
most one-ounce AGEs are listed for about $500, the 1991 is also $500.

You’re quoting $750 to $850 for the 1991 one-half ounce, so we’re talking about a 14% gain just since the 2005 Redbook came out.

I realize you know all this; I'm posting it for the benefit of other readers.

I got my last couple AGEs from these guys

http://lynncoins.com/New_US_gold.htm

but it doesn’t look like they have any half-ounce AGEs right now.

 

Does someone have a link or source for breakdown of the quantities minted for each year of the modern gold eagle?

Oops! Just found the mintage numbers on the lynn coins site!
Thanks
Chris

 

Hello Baccus..and all other participants that have added input..JDG is 100% correct in his analogy of the price of gold in the US. The weakness in the dollar is the result of a double deficit in the US and most Europen currencies are stronger by 26-30% in the countries dealing in Euros. Despite that subject, the lower mintage AGE are geeting expensive in high grade and I for one have been trying to put them together..hurts the ole pocket book I might add...they sure are not getting cheaper.. hahah thanks everyone for the input.

Rickie B

 

Thank you for your efforts and willingness to look up the coins... it is painful at the moment..but I do not see the value in these going down..it is sometime difficult to shell out those bucks.. but oh what a joy to have and hold that scarce gold! I just secured the 1988 5 dollar AGE..that was the last one of the low mintage series in the 1/10 and 1/4 oz vresions I needed...time to take a a rest...by the way, it seems as though the 1/2 oz coins are more often than not the hardest to get..not sure why..any feedback would be appreciated..

 

RickieB, where do you get most of your gold ? Online, local dealers, or mail order ? Or even (shudder) eBay ?