PCGS Gold Coins Gain on Investment Demand Posted by Brian Ford on May 05, 2014
The Professional Coin Grading Service (PCGS) has updated its price guide and many investment-grade certified gold coins are now listed at substantially higher national average retail prices than they were last week. Some analysts had predicted that PCGS gold coins’ next move would be downward due to the better-than-expected U.S. unemployment report that was released last week, but CGE analyst Zachary Minter believes the way coin prices moved is a story unto itself.
“Collector coins, including rare date, mint error and specialty coins, gained slightly today thanks to the $9.30 rise in the gold price,” Minter said. “Investment-grade gold coins, however, experienced gains today that far exceeded those of their extremely rare counterparts. This shows demand for non-confiscatable gold in a time when many Americans are extremely concerned over oiur nation’s direction and what lawmakers might attempt to bring the United States back into the black financially.”
Higher-grade St. Gaudens gold coins and Lady Liberty Double Eagles remained at previous price levels, according to PCGS. Common-date, one-ounce gold coins in grades MS61-MS64 jumped from $25 per coin (MS64) to $40 per coin (MS62). Graded gold coins with MS61-MS63 ratings have made greater strides in recent months than have the more elite coins, as investors slowly shifted allegiance away from raw bullion and towards certified coins for profitability potential and privacy.
“Investors could begin to target higher-grade coins in the future if the price of gold reaches dramatic heights,” said Minter. “For the time being it looks like mid-range investment gold is where the most demand is, at least among U.S. household investors. As always, we encourage investors to visit Certified Gold Exchange or call us toll-free at 1-800-300-0715 for an obligation-free portfolio evaluation and a complimentary copy of CGE’s Real Money Magazine.”