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Message:: [QUOTE="Brett_in_Sacto, post: 2239170, member: 71510"]The prices do fluctuate, but they do not decrease at the same rate as bullion due to supply and demand.  Anyone can buy modern gold bullion / gold eagles.  Pre-33 US gold is limited supply - they aren't making any more (except in China - but that's another thread). So the prices do fluctuate.  I remember paying $400ish for a nice raw XF/AU quarter eagle a couple years ago.  This year I've been picking up graded AU/MS for $300 range.  Numismatic value is real value based on trend and population of the coins.  Obviously the premiums will go up as gold prices increase.  As an example the $10 Gold Eagle (Indian Head) is ~16.7 grams at 90% purity. Today's spot price is $1133 (just checked) 90% of the 16.7 = $547 gold value.  I'd doubt if you can find one at that price.  There's a premium - but a lot for sale due to covering and bailing out.  The last one I bought - I paid $620 (Gold was at ~$1200) and then had it graded, came back AU58 giving it a fair sales value of ~$800 The last point on this is that a LOT of people have had to sell to cover themselves - or they've given up on coins/PM altogether.  Supply is great, demand is weak.  As this changes, the premiums on pre-33 gold will accelerate much faster than spot price increases (my opinion).[/QUOTE]