$20 Gold Coins Gain, Sales of Newer U.S. Gold Coins Slows
Posted by Brian Ford on August 26, 2013
New data indicates that a new trend may be developing in the gold market. Modern-day gold bullion coins, such as American Eagles and Buffaloes, have been at the height of their popularity for the last few months. Dives of the gold spot price only served to strengthen demand for U.S. gold coins dated 1986 or more recently, while gold bullion bars and certified gold coins remained “on the shelves collecting dust” far longer than is customary.
However, a recent report by the U.S. Mint shows that sales of American Eagle gold bullion coins, American Buffalo gold bullion coins and other U.S. Mint products are slowing drastically. Analysts have blamed the disappearance of the recent buying frenzy on a “recovering economy” but that “logic” is virtually implausible to believe if you have common sense and know how to read.
On the contrary, our economy seems to be falling into more of a rut, and the Great Recession of just a couple of years ago could soon be considered a bump in the road compared to the bevy of economic potholes that the United States is destined to plow into over the next few years. Why, then, are so many people refusing to buy the U.S. Mint’s wares? And why are some people going so far as to sell their gold bullion?
More investors are educating themselves about the dangers of holding bullion coins and bars. Two of the main dangers are exposure to gold confiscation and the risk of lost profitability. Certified gold coins (for the purpose of this article we are speaking of pre-1933, U.S.-minted, common-date gold coins with Mint State encapsulations from either PCGS or NGC) are becoming household investors’ “go-to” gold investment, and even though some coins are 200-400 percent below their historical highs, premiums have started to rise rapidly to account for all the investors targeting what is a very small amount of available coinage.
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They were particularly helpful when dealing directly with my current custodian and getting funds rolled over. Pat and Mary have been courteous, personable, and very professional working with me and even helped with questions outside the immediate business at hand. I have already referred friends to CGE and will continue to do so. Pat and team are very knowledgeable and professional! Customer since 2005. Professional, courteous, and helpful. CGE walked me through the process and provided the best prices available with minimum costs. Excellent service. What super service I received from the Certified Gold Exchange precious metals IRA team. Wow is all I can say! I had a large amount of coins in a gold and silver IRA for many years and decided to sell. I spent just about a whole day talking to several metals dealers about purchasing my metals. Call after call I did not feel good about what I was hearing with these dealers so I called the company that helped me set the gold and silver IRA up. Their name is Broad Financial LLC. I explained the problem I was having with finding a buyer and they said that is common in the industry. They told me to call the Certified Gold Exchange, Inc in Fort Worth, Texas. I spoke with Mr C there and was impressed that their quote was above the spot price (because I was hoping to get the spot price). They explained that American Eagles buy back at over spot and I said not with all the other dealers I called. I shipped the metals to their New York depository following the Certified Gold Exchange's instructions. Candace at CGE tracked the package every step of the way and I was updated along the way. Then when my metals arrived at the Certified Gold Exchange depository they told me that several of my coins were actually American Eagle Proof coins, not the bullion version I thought I had. They increased their original quote by $3000.00 dollars! Shocking that a company would be so honest because they could have just sent the original amount and I would have been happy. Needless to say I will never deal with a different metals dealer except the Certified Gold Exchange. Their gold IRA team is the best by leaps and bounds. I highly recommend Candice, Mr. C and the CGE team to any one looking to buy or sell metals with a great experience. Americans trusted source For Gold is not just a tagline with these folks. After searching and checking out different metals companies, I decided that Certified Gold Exchange Inc. was my choice. They have exceeded my expectations and made my IRA rollover easier than I thought.You can be very confident by the way every step was handled (very professional).So kudos to the whole TEAM and thank you I had a very good experience with Certified Gold Exchange and I highly recommend anyone considering a IRA Rollover into precious metals, talk to David White at Certified and do business with them. They are honest and will have your best interest as their concern.. David took care of my needs completely with honest and fair pricing. I shopped around and decided on Certified. Thank you David and Pat for educating us on the gold and silver markets. Pat especially helped us thru our first purchase of silver. So glad I found CGE! Although, they don’t do business in my state, David White was so kind to take the time out of his busy schedule to educate me on precious metal investing. His advice was extremely valuable which saved me a ton of money. I would definitely recommend and refer any of my friends or family members interested in investing in precious metals in their service area. So thankful for David and this company! My experience so far with Certified Gold Exchange was all very positive. Everything went smoothly and P. Collins was awesome in helping us navigate through the process. I called Certified Gold Exchange to get information on a crypto currency IRA. I had a ton of questions and Steve not only answered all of them but also informed me of many things I had not thought of.I decided to invest $60k and in just three months it's over $120k! Not only that, the team at Certified Gold Exchange has excellent customer service.I highly recommend them. Philip with the certified gold exchange was incredibly helpful in helping me to setup a Cryptocurrency IRA. He knew exactly what questions to ask my existing custodian to make the rollover as seamless as possible. 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This was the 3rd company I called and by far the most professional. Thanks Patrick for the great service! Thank you for donating 16 bibles for our foster children at Albuquerque Christian Children's Home! This is a wonderful company with a heart for ministry. I was interested in doing a gold IRA rollover and contacted several firms after researching on the web. Certified Gold Exchange's website had the most useful information by far compared to other firms. Their representatives have been a pleasure to work with--professional, answered every question I had, and I'd recommend them to anyone looking at a gold IRA rollover. I am a Certified Financial Planner, and Certified Gold Exchange has helped us purchase gold for 16 years without a hitch for our clients and at excellent prices. We couldn’t be more satisfied! My husband and I were thrilled with the service we received at Certified Gold Exchange! Shipping our gold to us was quick and very simple. So happy we did not have to pay for the TV advertisements with celebrities like so many of the other precious metal companies. We will be buying again from CGE! Certified Gold Exchange, Inc. is a highly professional firm that was a pleasure to do business with. It provides fast and accurate service. The firm went out of its way to be helpful on a number of key issues. I highly recommend them. I was extremely lucky for several reasons to have called the Certified Gold Exchange, Inc. when I was ready to sell my gold and silver coins. When I called the firm, Liam on the service desk explained that they scan hundreds of gold dealers to get me the best price. That was very comforting.When I spoke with coin dealer David White, he was able to give me a quote in 3.5 hours. He also explained the importance of shipping my coins via registered mail with the Post Office. David said that the Post Office requires a registered box to be sealed with brown paper tape to prevent tampering. David emailed me links to sites that showed the right tape to use and how to seal the box. He called several UPS stores in my neighborhood to try to find the tape for me. In the end, I bought the tape from the Post Office. David explained that while Fedex and UPS would ship the coins, since they are not allowed to ship gold or silver, I would have no recourse if my coins were lost. David even gave me his home number so I could reach him after hours if necessary.My experience with Certified Gold Exchange, Inc. stands in stark contrast with how two other coin brokers responded. The firm from which I had bought most of my silver coins never called me back. On November 13 when I called the broker from whom I had bought most of my gold coins, I couldn't get through on the phone. So, I emailed them and it took 5 days for them to respond! The broker didn't give me a quote until December 2 -- and then only for some of the coins! He said he would tell me what they would pay for the other coins after I shipped them!In addition, that broker explained that one of their customers had lost all their coins valued at $22,000 because the box was tampered with and they had failed to insure them for the full amount. However, I knew by then that if the firm had told the customer to ship the coins via registered mail as Certified Gold Exchange, Inc. does, the box could not have been tampered with.So, Certified Gold Exchange, Inc. is the only gold and silver dealer I recommend. The level of service is truly remarkable. What do you do with what little you have to put away for the future? After my divorce 16 years ago, I decided I needed to find an IRA and invest my children's money into something that would retain and grow in value through the years. 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