Purely a temporary thing... it's just the gold coins have proven so popular that were selling faster then they can keep up. The mint will get more gold, don't worry about that... they're autorized to mint the American buffaloes according to demand,and they'll make more with the demand this high. They just need some time to catch up to demand. Don't worry; the sky is NOT falling.
Lots of people are moving their money into gold and silver because of the economic uncertainty. The mint got overwhelmed. Once the economic bailout package passes, we will have a dead cat bounce in the stock market, then gold will start going down for a few weeks. Buy your gold then. When people realize that this plan won't work, and the market starts tanking again, people will start buying gold and silver again.
I just bought some buffalos and should've bought eagles. So I guess I have to sit tight til price goes up so I can convert to eagles. What grade is smart to aquire and/or collect? zg
It'll be temporary, the mint will be back gouging like never before, before you know it. If you're really concerned go to your local dealer and buy bullion.
Why do you want eagles instead of buffaloes? Gold is a hard asset and both trade for roughly the same premium over spot. While some "collect" modern gold bullion, personally, I don't see the point. One exception would be the W coins the mint sells. The premium over spot is most often rediculous but I still bought the 2006, 2007, 2008 W ounces anyway. I'm a sucker. If you want to "collect" gold, I would suggest pre 1900 quarter, half, eagle or double eagles. Personally, I collect Type III double eagles from the S mint.
Therein lies the rub Zeke, Ya gotta decide what you want to do- collect or invest. If you invest in precious metals it really doesn't matter what condition the stuff is in. If, however,you want to collect you must strive to obtain the highest quality pieces you can afford.
Okay, wait a second. If the Amer. Buffalo coin isn't graded coin then the only value it has is what gold is at the time unless some wants it so bad that they'll willingly pay over spot. I didn't think of that when I bought the ungraded bullion. The W and the proof coins look so much better and have a collecting interest too, as it would for me. So I hear from CT members it maintains its value that much more/longer. Same with the Amer. Eagle which looks likes it's so much more of a collectors coin. Anyway, I know I enjoy the buffalo bullion. Question: Will the coins I get be UNC. or CIRC. And I'll give it the white glove treatment too. Say, gold is supposed to be an inert metal. Is it subject to finger prints?
What's the best way to buy Bullion? I want to buy some since i have too much of my assets in cash. How do i go about buying maybe $5K in gold/silver?
Spock would know he supplys all their precious metal needs have you checked your PM ? NEED YOUR HELP ! rzage:hatch::hammer:
I presume this means the mints, not just the US mint (awful and rotten though it is ). I decided to check the Canadian mint and found gold bullion coins offered at premiums up to 124% over spot (after accounting for Canada's "smaller dollars"). The coin closest to 1oz was offered at 58% premium. The French mint offerings ranged from 75% to more than 100% over spot. In contrast, we have the US Mint 1 oz "Jackson's Liberty" in proof, offered at 37% over spot.
