For every coin they've posted the message "Product is not available". Does anyone know if this is temporary? If not, will the coins minted in 06 have a collectible value? http://catalog.usmint.gov/webapp/wc...1&parent_category_rn=10191&top_category=10191
This doesn't surprise me. The price of gold is over US$675.00 and they (The Mint) are going to lose money if they don't raise the price. I ordered a couple of sets a week ago and sometimes wish I had more money to put into precious metals. I imagine it'll be back at a much highter price (US$850 an ounce)????
Whoa whoa whoa !! They're not sold out. Guys, when they mint these coins they only mint a few until they see how sales are going to go. Every coin they mint and don't sell - they have to melt it down - and that cost them money. The mint didn't know the gold market was gonna go crazy and cause folks to buy - they just followed their normal practice. They'll have the coins back up for sale soon enough.
They'll lose money if they don't rasie their price??? No way. Right now gold is hovering at around 660 an ounce, a 1/10 oz coin is a hundred bucks. they're brining in $34 a coin at those prices. they make a little less on coins that are larger, but they are no where near losing money. Theives, that's what they are....
Instead of buying gold why not buy something like streettracks gold shares. It runs the price of gold almost exactly and you dont have to pay a retail price hike and be undercut when you sell it back. The mint bullion coins usually have very little numismatic value.
Gold I like gold as a hobby, art and a hedge. I own realestate , stocks and high yield money markets as investments. When a company crashes, the first to get paid with what is left are the bond holders. The stock holders usually lose it all. Enron comes to mind. Most in the 1999-2000 years lost half of their holding in good companies like GE, Colgate, Merck, Chevron and the list goes on. The technology markets hit most about 75% of their holdings Cisco , Microsoft etc. . A stock share is a promise to pay the current rate of the price of the stock, nothing more . Some times it is less. My Uncle was a coin dealer and showed me a few things when I was young and gas was 19.9 cents a gallon . An educated guess is better then a blackjack table. We all look at things from a diffent view at different stages of our lives. Will I buy more gold, maybe more like trade, sell a little that no longer interests me and then buy more . I agree that proof sets will not beat all averages, but over twenty years it is not to bad and I have the merchandise. Stock etc have been good to me but I have put in endless hours of reading and forcasting company performance. There is no easy way to get rich. Many of the big shooters started with a plan and secured backing. There have been a few that have boot straped them selves and are very well off. I hope they are as happy as some here. Be well Floyd
Here is why the Mint has stopped selling the gold coins: "Due to the increasing market value of gold, the American Eagle Gold Proof Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time. We expect products to be available with adjusted pricing on or after May 11, 2006."
