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Pocketmags Digital Magazines
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Pocketmags Digital Magazines

Gold Tops Price Record, Pride of Two Nations Coin Set Creates Buzz

NEWS STRIKES

EDITOR’S NOTE: This is the debut of an exciting new column by Joshua McMorrow-Hernandez, a regular contributor to COINage and now, the newest columnist. Enjoy this round up of news from the world of numismatics!

GOLD TOPPING $1,500, BREAKING 6-YEAR PRICE RECORD

Gold has been on fire this year, hitting the $1,500 threshold as this issue goes to press. This is the highest per-ounce price gold has notched since spring 2013, when prices were sliding after hitting decades-long highs. The golden bulls are at it once more, with geopolitical tensions mounting high, including rocky trade talks between the United States and China, continued peril in the Persian Gulf, and the stock market showing troublesome weaknesses lately.

What has yet to be seen is whether or not this activity in the gold market signals the next big breakout as we saw in the multi-year run from 2002-2011, when gold topped out at an all-time-high nominal price of almost $1,850. But what we do know is this: the feverish bullion market is helping to keep coin dealers very active these days, as more and more collectors and especially precious metals investors look to cash in on the fortunes — and potential bigger fortunes — the yellow metal provides.

Those in the numismatic arena should keep an extra close eye on trading conditions to see if positive trends form in overall market activity, as often happens when bullion prices are feverish. Will the increasing gold prices help spur even more activity in the rest of the coin market? We may see more activity among bullion coinage as well as common, circulated pre-1933 gold coins, with worn generic gold double eagles trading at levels closer to melt than even American Gold Eagles. If bullion prices stay elevated, speculation could spill over into other areas of the coin market, including those in which prices are less dependent on prevailing bullion levels such as key-date coins and early type coinage.

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About COINage

COINage October 2019, Great Silver Breakout on the Horizon, Pocket Change Treasures, And More....