PNG dealers see $1,460+ gold at year’s end

(Temecula, California) January 25, 2018 — Gold is anticipated to reach $1,460 or potentially more, silver about $20, and platinum about $1,150 by the end of the year. This was determined by conducting an informal survey between January 16-24, 2018, of some of the country’s leading precious metals retail dealers, according to the nonprofit Professional Numismatists Guild (PNG).

Members of the guild’s Accredited Precious Metals Dealer Program (APMD) were asked if their estimates for precious metals prices at the end of 2018 had changed since the year-end New York spot closing prices on December 29, 2017.  Several respondents indicated they have increased their 2018 year-end projections for gold in the last few weeks because of such things as speculation about additional Federal Reserve interest hikes, potentially higher oil prices, higher inflation in the United States and Europe, or a weaker U.S. dollar.

The obverse of a one-ounce 2018 American Eagle $50 gold coin. Photo courtesy of the Numismatic Guaranty Corporation. Hover to zoom.

“A majority of the respondents, who are on the front lines of buying and selling physical precious metals coins and ingots with the public, have slightly revised their estimates upward. Of course, prices fluctuate during the year, but the average of their estimates now is for gold to be $1,461.33 an ounce at the end of 2018. Gold ended 2017 at $1,306.30, so a predicted close at $1,461.33 would be a $155.03 increase; 11.8 percent,” said PNG President Barry Stuppler.

Two of the 25 respondents thought gold would be a little lower than $1,400 by year’s end, and three thought it could be $1,500 or more.

Estimates on silver by the end of the year varied quite a bit, from a low of $16.25 to a predicted high of $30.70. The combined average estimate for the end of 2018 was $20.00. Silver closed in New York at $17.06 at the end of 2017.

Estimates for platinum by the end of 2018 ranged from a low of $1,000 to a high of $1,400, with the combined average estimate at $1,150.23. Platinum closed at $935 at the end of New York spot trading in 2017.


“Precious metals investors should consider cost averaging by making purchases over intervals of time, and always be mindful of the premiums being charged over the intrinsic value of the precious metal coins or ingots. You absolutely need to know your precious metals dealer,” advised Stuppler.

All members of the Professional Numismatists Guild’s Accredited Precious Metals Dealer Program (PNG-APMD) undergo a background check, must adhere to a strict code of ethics in the buying and selling of numismatic items, and guarantee the authenticity of the numismatic merchandise they sell.

A directory of PNG-APMD members can be found at their website.

Press release courtesy of the Professional Numismatists Guild.

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Comments

  1. NCM Collector says

    I would not expect them to predict doom and dispair. Although any gold I buy will be purchased by June.

  2. cagcrisp says

    • cagcrisp says

    January 22, 2018 at 4:06 pm
    Dow 26,214…All Time High
    S&P 500 2,832….All Time High
    Nasdaq 7,408…All Time High
    Russell 2000 1,605…All Time High

    USD 90.39 …52 week low…

    IF you don’t participate on the Up Side, you Will participate on the Down Side…

    FOUR DAYS LATER…

    Dow 26,616…All Time High
    S&P 500 2,872….All Time High
    Nasdaq 7,505…All Time High

    USD 89.09…56 week low…

    IF you don’t participate on the Up Side, you Will participate on the Down Side…

  3. cagcrisp says

    12/29/2017 Gold price $1,302.50
    12/29/ 2017 Silver price $16.91
    12/29/2017 USD index 92.30

    Current Pricing:

    Gold $1,350.10 +3.7%
    Silver $17.40 +2.9%
    USD index 89.09 -3.5%…

  4. Richard A says

    Of course, gold will go up next year… lol. What else would one expect from this article which is really nothing more than an infomercial.

    And did you ever notice the folks who are in the precious metals (or related) business always say or imply in their articles that now is a good time to buy gold and silver?

  5. Barry says

    I have an issue with TV coin shows selling proof ASE’s that come out of a set for around twice the price of one that isn’t. The TPG label indicates the coin came from a set and they explain the fact that they send the coin packages unopened from the mint to get the designation on the label. Same coin only some were just set aside at the mint to be placed in the sets. They quickly go over that the coins were sold separately and focus the balance of the presentation of how limited and much more collectable the coin from the set is. It is really riding the ethical line imo.

  6. Hidalgo says

    Have you noticed that when the price of precious metals (primarily gold and silver) drops significantly, large coin and bullion dealers scream out loud, BUY! BUY! BUY! ??? I’m sure their inventories are huge and they want to deplete them as quickly as possible.

    I question the need to hoard gold and silver. Yes, precious metals will go up in price… but they will also fall in price as well. The market is volatile. No one can predict which way the market will go.

    I’m glad I invested in the stock market a few years ago. Stocks have outperformed the precious metals market for years.

  7. Anthony says

    There are 338 days to go until December 31st 2018.
    The PNG guys’ estimates are as good as anyone’s guess.
    Things move so fast in markets that a crash could come out of nowhere or everywhere. This world is OVERRIPE with so many potential Black Swan events that can start a negative cascading effect towards God knows what!

  8. Dustyroads says

    If I’m correct gold has already begun a pullback. The way I see it gold will be at 1280 in May or very early June. If it can’t hold that price and decides to dip much further it could get ugly.

    Nice job Hidalgo

  9. Barry says

    PM’s can be used as portfolio insurance if a financial crisis occurs. A 5-10 % allocation of assets in PM’s is what was said in the past. Nowadays there is a lot of anti- PM propaganda imo. If you do the research on gold / silver /platinum you’ll find there isn’t a whole lot of it available in comparison to all the fiat currency that is circulating worldwide. The limited supply is enough reason to own some.

  10. Junior says

    Physical PMs or Diamonds have advantages should a worst case scenario rear its ugly head.
    Bitcoin will be worthless, as well as stocks and bonds. hopefully, this never happens.

  11. cagcrisp says

    Platinum American Eagles…

    2015. Mintage Limit 4,000; HHL 1; Price $1,200.00; Sold Out in 6 minutes; FDOI 3,954; Final Listed Mintage 3,886

    2016. Mintage Limit 10,000; HHL 1; Price $1,350.00; Sold Out in 56 minutes; FDOI 9,810; Final Listed Mintage 9,151

    2017. Mintage Limit 10,000; HHL1; Price $1,300.00; FDOI 5,230; FWOI 5,960; Final Listed Mintage 8,892

    2018. Mintage Limit 20,000; HHL1; Price $1,420.00; FDOI 4,420

    2018 American Eagle Platinum HHL of 1 was Lifted after 24 hours. My Guesstimate is Final Mintage well be <7,500…

  12. cagcrisp says

    I keep up Weekly with 10 Gold Coins in Various Grades ($1.00 Type 3 Princess, $2.50 Liberty , $2.50 Indian Head, $3.00 Princess, $5.00 Liberty, $5.00 Indian Head, $10.00 Liberty, $10.00 Indian Head, $20.00 Liberty, $20 St Gauden), Both MS62 Graded and Ungraded…

    Spot Gold 11/25/2017 $1,290.00
    Spot Gold 01/27/2018 $1,350.90 +$60.90

    Of All Same Graded MS62 only 2 PCGS price guide lists changed in 2 months. Liberty $20 Gold MS62 -$15 and St Gauden $20 Gold MS62 +$25.00

    All 10 Graded Gold coin prices Increased on APMEX website regardless of the Price Guide.
    5 of 10 Ungraded Gold coin prices Decreased in percentage terms vs. Spot Gold on APMEX website.

    When Spot price of Gold goes Up, people continue to Chase the Graded coins…

  13. cagcrisp says

    2018 Bullion Gold and 2018 Bullion Silver

    So goes January , so goes the Year

    Keep in mind that Bullion Sales for the United States Mint in 2017 was the Worst since 2007…

    …SO…2018 is starting off Worse than 2017

    January 2017:
    American Gold Eagle Bullion Total oz. Sold 117,500 of Total Year Sales of 302,500 oz. or 38.8%
    Buffalo Gold Bullion Total oz. Sold 32,000 of Total Year Sales of 99,500 or 32.2%
    American Silver Eagle Bullion Total oz. Sold 5,127,500 of Total Year Sales of 18,065,500 oz. or 28.4%

    Sales thru January 26th 2018:
    American Gold Eagle Bullion Total oz. Sold 57,000 vs. 117,500 oz. January 2017 or 48.5%
    Buffalo Gold Bullion Total oz. Sold 23,500 vs. 32,000 oz. January 2017 or 73.4%
    American Silver Eagle Bullion Total oz. Sold 3,095,000 vs. 5,127,500 oz. January 2017 or 60.4%

    What is the most glaring to me is the Drop off from January 2017 to January 2018 is the reduction of 1 oz. American Gold Eagle Bullion

    January 2017 American Gold Eagles 1 oz. Total sold 86,500
    So far January 2018 American Gold Eagle Bullion sales are 35,000
    That’s a reduction of 59.5%…

  14. Larry says

    A mintage limit of 135,000 for the 1/10 OZ American Liberty? That is way way too high. The way things are going, they will be doing well to sell 25,000. If this were the Buffalo, I would be interested. I think I will pass.

  15. cagcrisp says

    @Larry, “A mintage limit of 135,000 for the 1/10 OZ American Liberty? That is way way too high. The way things are going, they will be doing well to sell 25,000.”

    I’ll take the Over 25,000 for as much as you Want to take…

  16. joe#2 says

    I didn’t think the Mint would make more 2017-w proof gold buffaloes in 2018 hmmm. Wonder how high now the mintage will be, As well as how long they will sell them ???? Probably when the 2018’s come out i guess.

  17. Larry says

    @ cagcrisp, we shall see. If it were five years, maybe they would sell more than 25K. The way things are going, just doesn’t seem likely. But I have been wrong many times before. I just don’t think the American Liberty series is that popular. Heck, they have only sold 30K of the more affordable and in my opinion much nicer 4 piece silver medal set from last year, which you can still buy. Like I said, if they did a 1/10 oz buff I would be all over it. This one I may have to see in person to see if I like it enough to buy. At 135K, they we be available for a long time.

  18. cagcrisp says

    @Larry, No problem. I like someone that has a Strong opinion.

    “Heck, they have only sold 30K of the more affordable and in my opinion much nicer 4 piece silver medal set from last year”

    The Mint has Sold 27,463 of the 1 oz. 2016 Gold American Liberty @ ~ $45,377,270

    “I just don’t think the American Liberty series is that popular.”

    At ~ $45,377,270 that would make the 1 oz. Gold American Liberty the Most popular Mint offering of 2017 and the Most popular Mint offering Since…?

  19. cagcrisp says

    Launch week Sales of the 1 oz. 2017 Gold American Liberty were ~ $26,392,520

    1/10 oz. 2018 Gold American Liberty Sales @ ~ $220.00 x 25,000 = $5,500,000…

  20. just another dave in pa says

    “At ~ $45,377,270 that would make the 1 oz. Gold American Liberty the Most popular Mint offering of 2017 and the Most popular Mint offering Since…?”

    2016?

    2017 was not a good year for the mint. Those tribute coins must’ve done pretty well, though.

  21. Larry says

    @ cagcrisp, I should know better than to bring up figures around you!. You are too well prepared. Not sure what to compare the 1OZ American Liberty against, as it is a one of a kind (maybe?) coin. Perhaps the RP Gold Buff, or the gold Kennedy, both of which sold many more, or even the 2009 UHR.
    It just seems with all the mints shenanigans as of late, it has left a bad taste in so many mouths that the quantities seem to be going down and down.
    If this upcoming 1/10th OZ coin had a max mintage of maybe 35-50K, it probably would sell out quickly. But at 135K, you gotta think you could pick one up well into 2019.

  22. Dustyroads says

    I really wish the USM had not saturated the market with the tribute coins. That set was a big deal to collectors and it now is looking more and more like it may have been the last real likable issue for a large collector base.

    The USM will have to build again, but it’s not going to happen over night. It will be a process rather than an event.

  23. Einbahnstrasse says

    Apropos of nothing, my Unc. WWI dollar arrived today. The design looks much better in silver than in the sketches; even the horrible lettering looks less bad. Seems like it’s always a toss-up whether the art will translate well into sculpture, but the Mint won the toss on this one, IMHO.

    We’ve had several really nice commem $1 designs in the past couple of years. Shame hardly anyone buys commems any more….

  24. Joe M. says

    @ Einbahnstrasse
    I stopped buying commemorative’s when they became UGLY AND “POLITICALLY CORRECT”.
    @ So Krates
    Here is a list of my discoveries at CONECA. If you see a * at the end, it means it is a recent discovery(1-25-18) and might not show yet.
    CENTS
    1923 1-O-VI
    1930 2-O-VI
    1954 D 1-O-IV
    1976 D 1-O-VI

    NICKELS
    1940 S 4-R-II (3)
    1942 S 3-R-II
    1946 3-R-IV+VI (STAGE A)
    1973 D/D RPM #1
    1973 S 1-R-II

    DIMES
    1940 D 4-O-II
    1940 S 4-O-VI
    1940 S 5-O-VI
    1940 S 2-R-II
    1942 D 3-O-II
    1943 1-R-VI
    1944 3-O-VI
    1944 1-R-II
    1944 S 1-O-II
    1945 3-O-VI
    1945 2-R-II
    1945 S 1-R-VI
    1945 S 2-R-II
    1954 PF 2-O-II
    1960 D/D RPM #3 (FS-501)
    1962 3-O-IV+VIII *
    1962 4-O-II *
    1964D 4-O-II+VI *
    1964D RPM #5 *
    1964 D/D RPM #6 (FS-502) This is the one you asked about a couple month’s ago…In CP Guide
    1970 S PF 3-O-V-CCW
    1972 S PF RPM #3 *

    QUARTERS
    1947 S 1-R-II
    1956 4-R-II
    1958 D/D RPM #2
    1960 PF 4-O-II (4)
    1960 PF 6-R-II
    1965 3-O-IV+VIII
    1970 D 5-R-1-CW
    1972 S PF 1-R-II

    HALVES
    1943 S/S RPM #1
    1946 S 1-R-VI
    1946 S 2-R-IV+V-CCW
    1951 PF 1-R-V-CW (3)
    1957 PF 4-R-II+VI (3) (FS-801)
    1969 D 3-R-V-CCW

  25. Daveinswfl says

    Completely OT
    Paid for pizza at CiCis with eleven half dollars. Cashier did not want to accept the coins. Took them to her manager for verification that they were “real money”. He gave Ok.
    Then she could not determine how much money I had given her. Needed help again.

    Almost as bad as the Wendy’s cashier who was willing to take a Clinton $3 bill until I told her it was NOT real money.

    Next week I will try Mickey Ds with SBA dollar coins – that should be interesting, too.

  26. jj says

    dave, thats funny…i once tried to pay with presidential dollars at an indian buffet. didn’t work lol. i also spend $2 bills every now and then. that really freaks people out.

  27. johnaz says

    Last night I was seeing about four or five coin t.v. show all on at the same time,selling all kinds of coins.I do not think the coin hobby is that bad.There selling to some one.

  28. Tinto says

    @Daveinswfl

    Yup! And wait till these TV shopping addicts try to sell their “precious” coins purchased at such exclusive prices from Mikey, etc ..

  29. joe#2 says

    For “the fun of it”… They should take these “gems” ( since they do have the 30 days ), Take them to some reputable coin dealers and see what they can get for them… Just for the “halibut”… They may get more returns than they think. I just love these broad ” numismatists” standing next to Mr. Mikey ( that don’t know krap about coins ). It’s a big joke.

  30. cagcrisp says

    @Dustyroads “I really wish the USM had not saturated the market with the tribute coins. That set was a big deal to collectors and it now is looking more and more like it may have been the last real likable issue for a large collector base. ”

    Let’s See…

    98.2% of All sales of the 2016 Gold Walking Liberty Half were in FY2017.

    ~ $56.5 million in FY2017 Revenue was because of the 2016 Gold Walking Liberty Half.

    Numismatic Net Margin for Gold in FY2017 was 15.3%.

    …SO…Using the FY2017 Overall Gold Numismatic Net Margin of 15.3% you could assume something close to ~$8.64 million in Net Income for FY2017 could be attributed to the 2016 Gold Walking Liberty Half.

    …SO…Considering the TOTAL Numismatic Net Income for FY2017 was $9.0 million

    …You have to make the assumption that Without the 2016 Gold Walking Liberty Half that Net Income for FY2017 would be Minimal at best or a Net Loss at the worst…

  31. cagcrisp says

    Lower and Lower Mintages, Higher and Higher Prices and More and More Gimmicks

    The Hooking up of Medals with a WWI Proof is a Gimmick
    The Pink Gold is a Gimmick
    The .999 Proof Presidential Medals in 2018 are Gimmicks
    The “in the works” U.S. Military Service Medals in .999 will be another Gimmick

    I’m in favor of Gimmicks. I don’t buy Gimmicks. Some do. Good for them. It helps me that others do.
    Mintages continue to spiral down so without the Gimmicks prices on things that I Think Actually matter would be even Higher and Higher than already announced…

    …And Higher and Higher prices cause Lower and Lower Mintages.

    …Which again cause More and More Gimmicks…

  32. KCSO says

    @ Larry –

    Totally agree that 135,000 mintage on the likely $220 1/10th gold Liberty is way to much.

    Though interrestingly, the independent concensus among a few friends and I that it’ll be sold out within a week.

    Why? Dealer’s got a flip.., they have to sell something they can mark up and will move.
    For that reason, I see it going quick, along with the Proof $5 BCA and this Reverse Proof Silver Set. If you’ll want one latter, I wouldn’t screw around with it.

    Personally though, at even 135k, I could see it maintaining it’s premium, I’m not suggesting it’ll be a good flip, just maintaining its premium.

    And Yes, fractional Buff’s are long over due! All I really want is the 2019 Lunar Comm’s and Fractional Buffs in Proof and UNC, I’d pay $220 for those in a heart beat, though prefer $185.

  33. KCSO says

    Einbahnstrasse – Thanks for the product review, I’ll pick one up then at some point, to go with my Proof that will eventually show around June.

    Pending Credit Card charge for the gimmick medal set has been dropped, therefore the ping will occur in May, I presume.

  34. KCSO says

    Nickel has been recovering from a severe bear market from 2012 up to 2016, and Ni prices are expected to continue their increase and experience robust demand pressures with the burgeoning EV market demand and stainless steel production demand from China and India middle class growth.

    Anyone have available the seniorage data on the FIVE CENT Nickel?

    Or how much a nickel or the mint currently looses or makes from production to sale of the .05c?

    For a little fun speculation, I wouldn’t be surprised to see an alloy thrown into the mix of future nickels.., perhaps by 2020/2021. TWT

    Frankly, some of you gentlemen that hoard these quarters rolls, you might be off better pivoting to hoarding nickels, albeit NiCo miners stocks will likely perform more handsomely.

    Hey, perhaps all these UNC/Proof sets we all bought over the years might actually go in value.., by .25c – Yeah!

  35. JARHEADnFLORIDA says

    @ KCSO I agree with you on the fractional gold buffalos. I am having trouble deciding if I should get the 1/10th Liberty or the random date 1/10th platinum .

  36. KCSO says

    JARHEADnFLORIDA – for what it’s worth, to protect your investment value, you may want to factor the long-term demand prospects for Platinum, an industrial metal used in concert with internal combustion engines (ICE). Given the growing Asian middle class, I personally have pulled back and limiting purchases to Au. Au is Au.

    Looking forward to seeing the Bealluwood Medal in hand, that’s my favorite.

    Given the state of the mint, no telling what mintage we may incur for the RP set, though that’s what I was thinking, unless its composition is Ag

  37. NCM Collector says

    Actually 24,931 is the current listed mintage for that nickel on the Mint’s website.

  38. Mattarch says

    I don’t have the current seigniorage on the nickel. I do know in the recent past it has been negative. The ‘nickel’ is actually .750 copper and only .250 nickel, so copper prices matter more for the manufacturing costs.

  39. Dustyroads says

    cagcrisp, The USM is going to do what they are going to do, nothing we can do about it, except of course not buy. I say give it seven years and we will see a nice correction pass.

  40. says

    Thanks Mattarch –

    » There are 0.3307 pounds of copper and 0.1102 pounds of nickel in $2 face value of nickel(s).

    » A roll of nickel(s) has 40 coins and is valued at $1.73 when copper is at $3.1940 / lb and nickel at $6.0933 / lb (exact value is $1.72791).

  41. NcCoinCollector says

    Reverse Proof Silver Set

    Will it sell between 75,000 and 225,000 sets?

    Will it be the first reverse proof nickel or cent?

    How much will it cost?

  42. cagcrisp says

    FY2017 the cost of a nickel was $.066

    FY2017 the Mint lost $21.0 million on the nickel production…

  43. cagcrisp says

    FY2017 the cost of the penny was $.0182

    FY2017 the Mint lost $68.8 million on the penny production…

  44. cagcrisp says

    The Mint lost money on the penny and nickel for the 12th consecutive year

    Go Mint…Cashless society…

  45. earthling says

    It’s all about payoffs. How much do the Lobbyists pay out to Beltway Swamp Critters to keep it going? And when it goes cashless – how much gets stripped directly from us Sheep?

  46. datadave says

    @KCSO – I’ve been playing the nickel game for a while. I like to look through rolls of nickels for the good dates and then I just keep the other rather than return to the bank. If the melt value goes up a lot, they might be worth more than a nickel, if the melt value goes down, you can just return to the bank for face value.

    Also, pre-82 Canadian nickels are actually 99.9% nickel with 100 of them making exactly a pound. These sell for more than face value.

  47. Larry says

    @cagcrisp, I don’t think the pink gold coin is a gimmick, i think that is a pretty cool coin.

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