Certified Gold Coins Gain Value Despite Flat Spot Price Posted by Brian Ford on July 16, 2013
Certified gold coin prices rose nominally on Monday morning, although gold bullion prices and the gold spot price itself remained flat. By 5pm EST the gold spot price had only risen $0.30 for the trading session, leading gold to $1287 per ounce per the COMEX division of the New York Mercantile Exchange (NYMEX). The lack of movement by the gold spot price, however, did not hinder some certified gold coins from being re-priced.
American investors typically look at only a select few of the thousands of pre-1933, certified gold coins. The select coins include quarter-Eagle ($2.50) coins, half-Eagle ($5) coins, Eagle ($10) coins and Double Eagle ($20) coins. While quarter-Eagles and half-Eagles remained flat for the day, Eagles (weighing one-half ounce) and Double Eagles (one-ounce coins) rose to the tune of about $5 per ounce.
While a $5 gain may not seem monumental to some investors, gold coin market analysts view certified coins rising in the face of flat bullion prices extremely substantial. While many certified coins have a tendency to outpace gold bullion profits when gold is rising, price increases on numismatics when gold is flat could mean a shift of investing trends.
“If certified coins rise across the board at a time when bullion stays flat or goes down, it could mean that investors’ perception about government confiscation of gold has started to change,” said Certified Gold Exchange analyst Harold Yoo. “Some buyers could be choosing certified coins for the increased profitability potential but during times of economic uncertainty the vast majority of gold investors who choose certified coins over bullion do so for safety, not only from inflation but also from government manipulation of gold or even a gold bullion recall.”
The Certified Gold Exchange Daily Market Update page is refreshed often with the latest news and facts on certified gold, and we encourage investors to keep an eye on our Daily Updates page in order to get the best information on the certified gold market.