PCGS Gold Coins Down On Market Standstill
Posted by Brian Ford on July 29, 2013
There has been a noticeable lack of trading taking place among PCGS gold coin buyers and sellers, according to some gold coin dealers throughout the United States, and this weeks-long trend has caused some certified gold coins to fall more than the gold spot price that usually plays the largest role in determining certified coin values.
Factors such as a wildly fluctuating dollar, uncertainty over possible Federal Reserve stimulus tapering and mixed reports on gold supply and demand have likely contributed to this standstill in gold coin investing, according to some gold market analysts. “PCGS gold coin buyers are usually very conservative investors, and in recent weeks there has been a mixed bag of buy, sell and hold signs, so these investors are waiting for more definitive information before they make adjustments to the amount of gold in their individual portfolios,” said Certified Gold Exchange chief analyst Rob Patel.
Popular investment-grade coins such as MS62, MS63 and MS64 St. Gaudens Double Eagle coins all fell between $10 and $15 even though spot gold is only down $4.40 for the trading day. If this trend continues, certified gold coins could be trading at bullion prices. Patel says that this is unlikely, however, “because in the history of certified gold coins they have always carried substantial premiums above spot due to their wide market-base and the growing number of investors who want something non-confiscatable. In our opinion bargain buying will aid certified coin prices before they come anywhere close to gold bullion prices.”
The Certified Gold Exchange Market Update page is edited often to reflect changes in the gold market, so please visit us several times per week to stay informed about certified gold coin prices and trends.
Tags:
Certified Gold Exchange, federal reserve, gold market, gold spot price, pcgs gold coins, rob patel, st. gaudens double eagle coin
Get Your Free Gold IRA Investor Kit & 7 Blunder Report
Free Investor Kit 
View Charts
