Numismatic Gold Coins Near Bullion Prices

At the time of writing this post, the price of gold has jumped to $1,712 per ounce. As a consequence of the US Mint’s pricing policy, which uses weekly averages and makes pricing adjustments periodically, the prices of certain numismatic gold coins are getting close to the market prices for equivalent bullion coins.

While everyone must make their own decisions about whether or not, when and how to purchase their precious metals, the convergence of premiums make current numismatic gold products a more compelling purchase when compared to bullion. While gold bullion products will almost always track the market price of the metal, numismatic gold products have the possibility to appreciate on the secondary market based on low mintage or other factors. Usually, collectors pay for the extra potential of numismatic gold coins through higher premiums.

The one ounce 2011-W Uncirculated Gold Eagle is available from the US Mint for $1878. By comparison, the cash price of a one ounce bullion Gold Eagle from a major precious metals dealer is $1,817. For a purchase by credit card, the price is $1,871.

Many collectors are viewing this coin as a potential secondary market winner after the coins are eventually no longer available from the US Mint. Across all years and versions of the American Gold Eagle, the issue with the lowest mintage is the 2008-W Uncirculated $10 Gold Eagle at 8,883 pieces. Barring anything unforeseen, the 2011-W Uncirculated $50 Gold Eagle will likely set a new mintage low. Through the last available sales report, sales have reached 3,894, although lately there have been some big weekly jumps.

There are some potential stumbling blocks to this issue. In a previous post, I questioned whether the recently smaller mintages for gold coins would become the “new normal” as higher precious metals prices make new issues more and more expensive. A mintage around 5,000 for a gold coin doesn’t seem as dramatic today as it did in the mid-1990’s. Another factor is that so many collectors view this coin as having the potential to be a big secondary market winner. If most of the people purchasing the coin are simply looking to resell it in the near future, this will create a deep supply in the marketplace, holding down prices. Finally, while there still has been no confirmation one way or the other, the issuance of a special 25th anniversary Gold Eagle Set might drive up the mintage. In 2006, the US Mint included the one ounce collectible uncirculated Gold Eagle in a 2-coin 20th anniversary set that accounted for 10,000 coins.

Moving on, the 2011-W Proof Gold Buffalo is available from the US Mint at $1,910 per coin. The cash price for the plain bullion version is currently around $1,820 with a credit card price of $1,875.

Extrapolating from sales trends, this issue has a strong possibility of being the second lowest one ounce proof Gold Buffalo in the series. The most recent sales show 14,822 units sold to date. If sales remain somewhat consistent through the rest of the offering period, the final number would fall between the current mintage low of 18,863 for the 2008 and the next highest figure of 49,306 for 2009.

I previously discussed at length the interesting prospects for this year’s commemorative gold coins. The proof versions for each program are still priced at $454.95 and the uncirculated versions are $444.95. Each coin contains 0.242 troy ounces of gold, which has a current market value of around $414. Considering that the US Mint prices include a $35 surcharge, which will be distributed to the beneficiary organization, the US Mint is currently netting less than the market value of gold on the uncirculated versions of the coins.

Remaining numismatic gold products include the five different First Spouse Gold Coins and the fractional and one ounce versions of the Proof Gold Eagles.

The first opportunity for the US Mint to adjust prices for most of these products should be around mid-morning on Wednesday. The extent of the increase will be determined by the average market price of gold based on London fix prices from last Thursday AM to this Wednesday AM. The prices for commemorative gold coins cannot be adjusted automatically, but rather sales would be suspended until new prices could be published in the Federal Register.

If the price of gold really continues to move, it’s always possible that the US Mint could suspend sales across the board. The current pricing grid includes the statement: The United States Mint reserves the right to discontinue sale of gold numismatic products in the event that the selling price of United States Mint gold bullion products begin approaching the sale price of the gold numismatic products.

Hopefully by “discontinue”, they mean “temporarily suspend.” And the term “begin approaching” leaves things very ambiguous.

Mint News Blog Website News

Over the weekend, the transition of Mint News Blog from the blogger platform to wordpress was completed and commenting features have been restored. From a reader standpoint, things should remain essentially the same, but the change will help me to administer the blog more easily and effectively.

The official website address has changed to http://mintnewsblog.com/ If you have the old address or pages bookmarked, the links should automatically redirect to the new addresses. Email and RSS feed subscribers should also continue to receive news posts without interruption.

Thank you for bearing with me while the site was transitioned.

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Comments

  1. Psychdr says

    Michael,
    It’s good to hear that you are up and blogging with better safeguards. The timing of your article seems right in tune with surging gold prices. In your article you mention the offering period for the Buffalo and was wondering what is the typical time frame for these coins to be offered? It seems unlikely that they would discontinue production in light of the frenzy of buyers out their and although it makes sense from a collectors perespective to buy numismatic gold pieces versus bullion, as a collector one can only hope that mintages remain low. Perhaps the high prices of the eagle’s and buffalo keep enough people out of the market and allows for the 2ndary market to thrive in years to come. Cant’ say that I would be disappointed if stopping production occured becuase cost of bullion reaches that of gold numismatic..

  2. CaptainOverkill says

    Michael,

    Appreciate you beating the drum on this topic. I will be stunned if the gold commemoratives aren’t suspended this week (and they may also move on the silver proof sets for good measure). As for the other numismatic gold products, I would hate to see them discontinued, but I agree if we continue to have wild price swings week to week, pricing them would be difficult.

    I don’t think I have ever seen a day where gold was up $50…

  3. Simon says

    As a collector I may be tempted to bypass my annual numisbudget and acquire the commems to hold just as rarities for my collection. I have no interest in the resale values.

  4. SunTzu says

    Thank you so much for this post. All the questions I was asking my self you answered perfectly. Now I’m left to decide which one to buy; the Buffalo or AGE. I have both Commemoratives. I was considering selling a few items to raise the cash to be able to buy both, but I can’t part with anything!

  5. ultra-crepidarian says

    I agree with CaptainOverkill about the Mint suspending the sale of the gold commemoratives. I really like the MOH gold commemoratives. I bought the set when they were first released. I have subsequently bought 4 additional Mint State coins (as an investment) so I wouldn’t mind the Mint suspending sales. I would hate to see them lose money 😉

    I am still waiting for the Mint to lift the order limits for the Grand Canyon five ounce silver coin. I expected that to have happened already. I would like to order another coin because the one I got was substandard – but I did luck out and get 4 out of 5 beautify coins. The Mint is so inconsistent about how these decisions are made.

    Michael, thank you for doing this blog I really appreciate it. I hope the changes you implemented can raise the quality of the comments to match the quality of the information you provide.

  6. SunTzu says

    ultra-crepidarian you can return your substandard coin. I returned mine and they paid for my return shipping so it didn’t cost anything. I got a perfect replacement. It was excellent customer service. You fax them over your receipt with a little note that includes your order number and they cut you a check a week later.

  7. ultra-crepidarian says

    Sun Tzu, thanks, the coin that I have would probable grade as a SP 68. Whenever you return a coin you take a chance on what you get back. I have not had good luck with the Mint in exchanging coins. I didn’t want to turn in a SP68 and get back somebody’s rejected SP66.

    Since Yosemite came off the restricted orders after a month I thought that, given Grand Canyon’s slower initial sales, it would follow suite. That didn’t happen. My idea was to have two coins in hand and then return the worst coin, hence minimizing my downside risk. All I want is one complete set of nice (SP69 – SP70) coins. The Mint really doesn’t provide a great deal of guidance and consistency in how it conducts its business. It always keeps us guessing: This time it looks like I might have guessed wrong.

  8. mjinden says

    Glad to have the comments back minus the idiotic rhetoric that made you shut them down. It really was getting out of hand.

  9. says

    Michael,

    Regarding the uncertainty of the one ounce unc. gold eagle being included in a 25th Anniversary set…yes, that is something to consider.
    The 20th Anniversary sets actually added 30,000 to the unc, gold one ounce totals. There were 10,000 in the 3 coin gold set(one ounce proof, reverse proof & uncirculated) and 20,000 in the two coin set(one ounce unc. silver eagle and one ounce unc. gold).

    CaptainOverkill…I agree the $5 gold coins may be suspended at any time and I’m still think about buying some today.
    However, I don’t think that the proof SAE would be sold for less than the unc. version when it goes on sale 9/29. If silver is at such a price that the unc. would be priced higher than the current $59.95 for the proof , then I think the Mint would suspend sells of the proof SAE and re-price it.

  10. says

    Also, I meant to mention…the 20th Anniversay 3 coin gold set(3 oz’s) was priced at $2610.
    The 2 coin set (1 oz silver, 1 oz gold) was $850.
    The 3 coin SAE set (proof, reverse proof & unc) was $100. Mintage 250,000

    All three sets had a household limit of 10 sets each.

  11. Brad says

    It’s hard to believe that at the time of this writing, the spot price of gold is only about $58 less than the $1,778 I paid for the 2011 W Unc AGE. I just bought it less than three weeks ago!

    I wonder if the Mint WILL exercise the right to suspend ALL gold coin sales until the price stabilizes?

  12. CaptainOverkill says

    I hesitate to post this for fear of sounding alarmist, but I have concerns that if there is a suspension, we may never see the gold MoH or Army commemoratives return.

    Consider the fact that gold is currently up almost $60. Gold has gone up hundreds of dollars very rapidly this year. Given the volatility of the price, and the clunky system by which prices must be published in the Federal Register, there may not be an opportunity for the Mint to return these products to sale at reasonable prices. If they were to raise the price $100, and then you had a $100-$150 gold price increase that same month, how long would it be before they were forced to suspend again? Would they even be able to get the product back on sale before having to reprice?

    That is why I think, short of a massive collapse in the price of gold, this may be the last we see of the gold MoH and Army commemoratives this year.

  13. mqracing says

    Thanks Michael and other posters— I’m debating now whether or not to buy some gold coins— and especially the commemoratives.

    But what I also have my eye on is the platinum one ounce eagle which I think should be DROPPING in price this week. It should come down a hundred bucks, right???

    Does anyone have a link to the latest mintage figures for the 2011 gold offerings?

    And a huge thanks Michael for this site and the restoration of the comments section.

  14. Brad says

    I did go ahead and place an order for two each of both the Silver and Gold Uncirculated Medal of Honor coins this morning. I think each of them have great designs on both sides, and I’ve had my eye on them for a while. I thought I’d better act now, since they could be suspended at any time (the gold coin, anyway.)

    I opted for the unc versions over the proofs, since I wanted to see more intricate details on the medals. The proofs are too frosted now with the manufacturing technique used. Also, the unc versions will be lower-mintage than the proofs.

  15. Tim says

    I have had the proof MOH ordered since last Thursday. I sure hope they hurry and ship it before the door slams shut.

  16. kevin says

    I am going to start buying while everyone is running for the doors, and I won’t sell until everyone is complacent. Stocks, coins, I’m fixing to go all in!

  17. David O says

    I got one of the MOH Unc $5 coins but now need to get the Unc $5 Army gold coin to make sure I get the lowest mintage once– it won’t really matter if the mintages are just a few dozen away from one another like they are now.

    That said, the MOH looks fantastic, especially the reverse.

  18. Brad says

    Orie,

    All three of my 2011 W Unc AGE had the issues you described on the reverse as well, and they all appeared virtually identical. I didn’t bother to send them back, since I figured the chances of getting coins without the issues would be slim to none. I’ve noticed that many of the silver and gold Eagle bullion coins seem to have those type of issues anymore. I’ve seen Silver Eagles that show it worse than these gold coins, and those were on the OBVERSE. At least the gold coins show it on the reverse. Maybe the Mint is trying to crank these coins out too fast now in an attempt to keep up with demand.

    I’m not too worried about it, though. It will still likely be a low-mintage coin, and if the vast majority of them have the strange type of bullion coin imperfection appearance on the reverse, it may not matter too much.

  19. CaptainOverkill says

    I think both of the gold commemoratives are sleepers. Assuming the suspension happens like I expect on Wednesday, I think we will see perhaps a few dozen or maybe 100-200 more MoH sold than Army. However, for practical purposes, the numbers will be so close as to make little difference. Additionally, the Medal of Honor is a better looking coin, so I suspect that will also drive up interest in it. Part of the reason people like the old St. Gaudens double eagle is, after all, because it’s a beautiful coin.

    I am really excited to see what happens to the prices of these coins after the suspension. I hope everyone on here was able to get as many as they wanted!

  20. CaptainOverkill says

    Julie,

    I expect the problem is that they’re mostly out of coins and will probably need to mint more. Sales of the coins had been extremely slow until a few weeks ago when prices went up and people started looking for affordable gold, and fears of suspension began to spread. If you look at the sales reports Michael posts each Tuesday on Coin Update, you can see that they have been flooded with orders for the MoH coin recently – sales spiked when Michael made his recommendations.

    Given the suspension situation, I cannot say what the Mint’s response will be. You might wish to call them up if a suspension event takes place this Wednesday. This is a fairly unique situation. I imagine at the very least, you will get your original coins back.

  21. says

    When ordering the 2011 American Buffalo One Ounce Gold Proof Coin (BU4), does anyone know how you specify that you want the West Point produced coin?
    The Mint only lists American Buffalo Proof Coin, without giving you the option to chose W?
    Thanks
    Bill

  22. Fedflation says

    Platinum and silver are down a little and gold is now about $25 $30 higher than platinum. It seems people are more interested in the purer monetary metal right now.

    Regarding numismatic gold coins I will be interested to see the sales figures tomorrow esp for the AGE unc coin since sales have been so inconsistent from week to week lately.

  23. Brian says

    If gold stays at the current spot of $1740, I will be perplexed if the gold commems are still available tomorrow morning. I just ordered all four because I expect them to be pulled overnight.

  24. C R S says

    Michael, thanks so much for always keeping us up to date with all of these opportunities. I’m always checking your blog, and learning things from it. I just put in an order for both of the unc. $5 gold commemoratives, hopefully they perform well.

  25. John says

    It’s good to have the comments back up, Thanks!

    My mint purchases have been a miss the past few weeks. I received a GC with a few nicks on the reverse and immediately ordered a second using a different address in hopes of getting a better coin before the returns started arriving back. The second coin was worse but the scratches were on the obverse so I guess I have to deal with it.

    I also ordered an AGE Unc. before the two price increases, this one came with a huge scratch between the “B” & “E”. I returned it and am waiting for the exchange, it looks like it might be from a new batch because it’s on back order. (I too was told that I would receive my shipping cost back but have not received a check yet.)

    Last today I received my Proof & Unc. MOH thanks to the blog! Both look great and after seeing Gold move over $50 I decided to buy one more Unc. MOH. What can I say the price is right and as this blog points out it could get suspended and that’s what I was thinking about 10 hours ago.

  26. Fedflation says

    Gold is almost @ $1750. Just less than a month ago it was under $1500. The Dow is currently worth just over 6 oz’s of gold. About 10 years ago the Dow was worth about $40 – $45 oz’s of gold. Before long the Dow/gold ratio will likely be around 1 to 1. Maybe people are finally starting to understand basic economics and the concept of REAL money despite the absurd nonsense and propaganda from the news media (esp. financial) and others with financial influence in this country. Greenspan’s recent comments about how the U.S won’t default and treasuries should be graded AAA because the Fed can always just print more money is a perfect example of the ridiculous policies that have destroyed our economy. That’s the real goal of the Fed – to just try and inflate the debt away with cheap money. Unfortunately an inflationary depression is much worse than default and Greenspan and Bernanke are one’s that are most to blame.

  27. qlipoffs says

    You have one small typo:

    Barring anything unforeseen, the 2010-W Uncirculated $50 Gold Eagle will likely set a new mintage low. Through the last available sales report, sales have reached 3,894, although lately there have been some big weekly jumps.

    Should be 2011 (not 2010).

  28. David O says

    While the MOH coins are more attractive, a portion of the army coins could likely fall into non-numismatic households and kept in a shoebox for decades and decades. Boy Scouts, Law Enforcement, etc, are examples of these types of commems.

  29. Brad says

    Gold is just over $1,770 at the time of this writing. I will be REALLY surprised if the Mint is still selling ANY numismatic gold coins in the morning! Unless, that is, the price tanks in the next few hours.

  30. IrwinEVO says

    I just placed my order for four (4) of the $5 MOH Gold Comms. Gold (according to APMEX) is now trading at $1,779 per ounce.

  31. In the Middle says

    I had to bite. I bought 2 unc of each Army & MOH @ 0600. Spot price $1770 purchase price $1780.. These WILL be pulled first thing at the opening of business.

  32. kevin says

    Doesn’t the Mint say that until your order status says “in process” they can still cancel all the commemorative roders you guys have placed. Most orders aren’t officially accepted for several days… so it is still not certain you will get the coin you want at the price you want.

  33. Brad says

    Man, if the London am fix tomorrow is $1,723.75 or higher, there might be a TWO-tier price increase this week!

  34. Dolores says

    I wonder why silver hasn’t moved up throughout all this turmoil. Think it will go up or down? Silver is around $37 now.

  35. Tim says

    Just ordered the 1 oz Unc AGE coin and the order went through till the very end when the website said “product not available” Wish I had ordered it yesterday.

  36. Brad says

    Oddly enough, the underpriced comemmoratives are the only gold coins presently being sold. The Mint suspended all of the others a day early. They must have been SLAMMED for orders during the past 24 hours!

  37. Broooster says

    I wonder if the Mint would be so fast to reprice if the spot price dropped as fast as it has went up. Repricing a day early, that’s kind of going against their own policy.

  38. Frankie says

    On a separate note – the order limit for the Grand Canyon 5oz P coin (NP4) has now been lifted:
    “Effective August 9, 2011 at 12:00 noon (ET), there are no household order limits for this product.”

  39. SunTzu says

    The Mint has a note up regarding the AGE and Buffalo indicating that… “This product is temporarily unavailable for product repricing.”

  40. G says

    Talked to the Mint on the phone- they said the gold products will be back for sale ‘repriced’ tomorrow. She laughed and said “I don’t think the prices are going down”- at least they have a sense of humor about it- but why are the commems still available? I asked her and she said the prices are fixed and they’re stuck with those prices. Hmmm…

  41. Tim says

    Hope this helps for those new gold order questions. Usually on a gold order, it is “on hold “4 days, then 1 day “in process”, and then “shipped”. That is how, for me it always goes.

  42. Brad says

    Is anyone planning on buying any more of the Grand Canyon P 5 oz. coins now that the household order limit has been removed? I was going to, but now I’m not sure. After it was starting to appear that the Mint was planning on leaving the order limit intact until the bitter end, I placed an order under a friend’s name and one under an uncle’s name. Chatise me for that if you must, but it was pretty obvious that anyone who wanted one of the coins had already had ample time to order it. I wanted to try for one of the coins without the special finish applied, but I had already ordered my household limit of one coin so I couldn’t try without using the “friends and family” plan.

    However, those two orders sat “on hold” for days on end, despite being “in stock and reserved.” I was afraid that meant the Mint was re-examining the inventory of unsold coins, taking any that lacked the special finish back and applying it before letting them be shipped out to buyers. So, I just cancelled the orders.

    Now that I could order more under my own name and use my own credit card, I was thinking about placing another order for a few more. As an effort to get one of the error coins though, it’s probably futile. Any thoughts?

  43. Tim says

    Brad, I doubt they have gone back and opened any boxes to check the finish. This is money to them, when something slips out. They won’t say it but get my drift.

  44. Brian says

    Doesn’t the Mint normally reprice on Wednesday, not Tuesday? The Mint must be invoking their right to suspend sales when prices get too volatile. Even though you can still place an order for the gold commems, I wouldn’t bet on it going through. Hopefully, Michael can get clarification on what’s going on.

  45. Brad says

    Regarding the Gold Comemmoratives, this type of situation could jack up sales of them enough to rob them of the higher collectible value they might have otherwise had. Anyone buying gold coins from the Mint today is buying the comemmoratives or nothing. It could easily put the prospect of the Uncirculated versions staying under 10,000 in jeopardy.

    Despite what one poster said about someone at the Mint stating they were “stuck with those prices”, I find that difficult to believe. I simply can’t believe the Mint would be willing to continue to sell the coins at the current prices until the full 100,000 coins of each design were sold if the market price of gold stays as high or higher than it is now. Sure, the gold used to produce them was purchased at a much lower price, but that doesn’t matter as we all know. The Mint makes sure the sales prices of their products allow for the increase in the metal value. Plus, none of us know how many of the coins have been struck. Did the Mint go ahead and buy enough blanks at the lower gold price to allow for all 100,000 of each design to sell, or will they have to buy more blanks to strike more at current higher prices? Continuing to sell the comemmoratives at the current prices in that scenario would be insane.

  46. John says

    As for the GC 5oz order limit. I’m guessing that you might get my return or somebody elses.

    As I posted earlier, I’ve receive two bad GC 5oz and that was during the first part of the ordering period. Hopefully there are some good coins left!

    The Unc. MOH that I ordered yesterday says “in stock & reserved”

  47. mqracing says

    Sorry everyone but I just added to the MOH UNC population by a count of four.
    Double checked my order status after placement and it sez “in stock & reserved”.

    Also plunged for two Grand Canyon five ounce UNC’s. Thought I had sworn off this series— they are not performing well. But I also remember in late 2008 the mint could barely give away the 08 four piece platinum sets— and look at what they have done. 27 thousand pieces is a relatively small run if (and that’s a big if) this series catches on and the first year usually commands some extra premiums as time goes on. It’s a gamble— but I also figure that in a few years the value of the silver content alone ought to put me over the top.

    I also debated whether to buy some NGC PF70 ER MOH’s— price tag is $539 each. Nice thing is that in the ER label the population is just 173 pieces— and the ER deadlines probably means that it won’t be going up any if at all. What do you guys think?

  48. SmallPotatos says

    Brad’s comment at 3:19 has an interesting premise. if the price of gold stays at or near $1780, it is pretty much breakeven on a numismatic offering for the Army & MOH coins. if the gold price goes higher, and the mint doesn’t pull the plug at $445, well that would make for an quite a scenario! I don’t think they would get to 100,000 minted, but it everything goes to #$%!, who knows!

  49. mqracing says

    IMO Michael should just delete all posts like Julie’s. If all the message has to offer is that they want to rail against graded coins— that’s old hat. It’s distracting at best and just makes for an utterly negative environment.

    MSL

  50. G says

    I think Julie’s comment is appropriate and this is definitely the proper forum for her to voice her opinion about graded coins, particularly since another member asked her opinion on whether a graded 70 coin was worth it. It’s not really negative, IMO since she clearly is passionate about coins, and it is highly possible that bullion-type coins of high grades will go the way of the ‘it’s good to clean coins’ of the past. Hobbies are fluid, and really, this is a great hobby, and while I personally think the graded coin mark-ups are bad for coin dealers (since it takes out their expertise), it really helps in a world of ebay, etc. – since it gets rid of the possibilty for fraud/counterfeits/etc. Now- will 70 v. 69 graded modern coins retain value of type-rarity? I think so. People like it, that’s the bottom line, and whether it’s science or not- if people like it, they’ll keep collecting it- and everybody wants to have ‘the perfect rare coin’ right? 🙂

  51. Shaun Garvie says

    Actually, the guy that said Julie’s comment should be deleted is the same person that asked the question Julie was responding to. Apparently, he doesn’t like dissenting opinions from his own. 😉

    To me, it didn’t seem like she was railing on graded coins in general but the special First Strike & Early Release designations. I agree that those seem to be artificially created rarities. Basically, it’s good salesmanship by the grading companies to charge extra for the designation.

    Rather than creating a negative environment, as mq suggests, I thought that Julie was trying to be helpful by pointing out that this is really just a way to get people to pay extra. To me, it’s one thing to buy a graded coin (takes away the worry over the coin being counterfeit or having an inflated grade by the seller) but the First Strike or Early Release designations are sort of like paying for the options at a car dealer. If you really want it, then go for it. Personally, I’d go with just a regular graded coin.

  52. mqracing says

    Hi folks. My bad for stirring the hornet’s nest— I just thought that on a “numismatics” site we might be able to get a bit beyond the curlish cries of “it’s a ripoff, it’s a scam, etc”. I can go to any number of bullion oriented boards and read that tripe all day long.

    And my question re: my debate about purchasing some graded proof early release MOH’s was largely rhetorical. I was NOT asking whether graded coins or\and an accompanying ER or FS designation was a “con game” or not. My apologies if I was not sufficiently clear on this point.

    Rhetorically, I was inquiring into whether the asking price for the graded coin was favorable or not given the potential low mintages overall for this particular proof coin and the fact that the graded population of this particular coin was itself *exceptionally* small (just 173 ER’s in existence).

    Now… several who have responded may think that the ER or FS labels are a “con game” but again that is NOT what I was asking— and I am well aware of the arguments for and against grading coins and more specifically the arguments for or against the ER and FS labels.

    And apparently some who responded did NOT read my post or comprehend it— and again came up with verbage about there being (in the words of one poster);

    “You are talking about hundreds of thousands of these coins out there that are commanding premiums on top of the premiums that are already figured into the coins. These are not rare by any account, and it makes me sad and mad at the same time when I read that fellow posters are falling for this sharade. All smoke and mirrors!.”

    How does that commentary relate to a graded coin whose population is (and was clearly stated) as being less than 200 pieces in existence.

    So Shaun— contrary to your opinion that I don’t appreciate dissenting opinions— I would argue that responses which focused on the alleged “manipulation” and “greed” of the grading companies was simply not relevant nor topical given the nature of my query.

    In retrospect I should have just simply let Julie’s post go— and not have responded at all. I think I was just expecting a more mature and a richer envirnment on this forum since it focuses on numismatics as opposed to bullion colllectors. My mistake.

  53. paul says

    So is the commemorative quarter-ounce lighter than the American Eagle quarter-ounce. It appears to be fractionally lighter. Thanks

  54. mqracing says

    Good news.

    I did purchase a pair of the NGC PF70 ER Medal of Honor coins. After reading some earlier posts by others who said that they were disappointed in the quality of some of the gold proofs that they had received from the mint I figured that I would minimize that risk by purchasing an already graded coin. The ER designation is just icing on the cake since the cutoff period for ER submissions is long gone. And 173 pieces is a suitably nice low number :=)

    I then went looking for some MS70 graded MOH’s and could not find any, anywhere. So just a few minutes ago I ordered four UNC pieces from the mint with an anticipated shipping date of Aug 25th.

  55. Eric says

    Some really great info on numismatic pricing. I’ve been looking at the differences between bullion and numismatics and with the pricing variable being so little, they have become a very attractive option.

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