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Question: With gold high is it better to hold onto a low mintage gold coin, like the 2008 w gold eagle or sell now?

(Posted by: R J on 2010-03-10 18:59:44)

I am wondering if the price say for the quarter ounce Gold Eagle at $1,000 since it is the lowest mintage or is the high price of gold keeping it that high and when gold drops the price will reflect this.

Posted by: Taiping on 2010-03-11, 09:27:09

I can not seem to find in any price guides the mintage figure for the 2008W 1/4 ounce gold eagle. I do know there are 2 of them one is a proof and the other is what the mint calls burnished. The regular uncirculated one has no mint mark. The high cost of gold has driven the value up of all gold coins even common ones. Most modern gold coins except some proof collector ones go up and down due to the value of gold, the proof cost more so have a collector value, there is also a lot less of them. I really don't expect gold to take a real nose dive this year. The economy is still in real bad shape and people are buying gold as a hedge on inflation as well it is a good investment right now. You need to keep an eye on the market which is easy for you can get the spot price of gold on line. It would not hurt to check with coin dealers to see what they are paying, for they do not pay spot usually. You can get an idea of the market from the dealers. I would not sell now but that is only my opinion, that could change tomorrow if I see the market changing.

Posted by: The Fail Master on 2010-03-10, 19:07:48

I think now would be one of the best times to sell gold. It really has nowhere to go but down. I mean it might go up a dollar or so but basically, it has reached its peak. Now if you could short sell gold, that would be awesome because it is definitely going to go down sometime in the near future.

Posted by: curtisports2 on 2010-03-11, 17:50:48

Stop and think about it....a quarter ounce of gold, at current, run-up price (from a few years ago), is worth roughly $280. I didn't check to see what the 2008 W is going for right now, but if it's $1,000, the high price of gold isn't making that coin a $1,000 coin. It's a numismatic coin, at least, it is right now. The numismatic market is subject to a volatility that is different from the volatility of precious metals prices. Those 'collector' coins on the lower end of the rarity scale do, in fact, move up or down with the metals market, but the rare coin market is something very different. Certain issues get 'hot', then they cool off. For example, the 1995 W silver eagle proof, with a ridiculously low mintage for a popular series like the silver eagles, has cooled off a bit from four or five years ago. When I first started to watch sales of that coin at an auction house I track, I had missed the boat by about six months. One of these eagle graded PCGS PR69 DCAM had sold for $2,200, but by the time I became aware, the price had climbed to around $3,000. This, at a time when an ounce of silver was around $6. The prices of those 1995 W in that high grade continued to climb to over $4,000. They have slid back down to the low $3,000s, at a time when silver and gold have stayed high. The value of that coin has absolutely zero to do with the tiny dollar amount of silver in it. If the price of silver were to triple. it would have zero impact on the value of that coin. If the price of gold were to triple, to $840 for a quarter ounce, the numismatic value of a 2008 W would be impacted, but not by triple.

Posted by: grendel on 2010-03-12, 21:29:22

Keep it!!! gold is not going to drop, and w/ the low mintage of the West point mark it will only gain in value