US Mint Gold Coins: Strong Demand in 2011
As published by CoinNews.Net, the United States government lowered the prices of some of its numismatic series on January 26, 2011. This led to a surge in the demand for US mint gold coins. This series includes 24 karat American Buffalo Gold and First Spouse Gold Coins. The probable reason for the price reduction of this cherished numismatic coinage is that while New Year (2011) numismatic issues are yet to be put on auction, a majority of last year’s proof Gold Eagles have already been sold out.
According to another news article published in CoinNews.Net, the sale price of the proof American Buffalo Gold Coin was reduced by as much as $50 by the US government. Thus, to buy gold coins dipped from $1660 to $1610. The US mint began the year by offering four proof and four uncirculated First Spouse Gold Coins. The prices for these sets have dropped by $25, which means that the price of proof coins has been lowered from $854 to $829 and that of uncirculated coins dropped from $841 to $816.
US Mint Gold Coins: Strong New Year Demand
Government mints across the world are reporting strong demand for gold coins in 2011. Even the US mint witnessed heightened demand for its gold coins. Bloomberg quoted Barclays Capital analyst Suki Cooper as saying in an email dated January 19, 2011, “Retail investor interest in gold still remains healthy. Although short-term tactical investors have established fresh short positions in recent sessions, physical demand continues to cushion dips. Furthermore, the U.S. Mint has reported a strong start to gold-coin sales so far this year.”
Another factor behind the growing demand for gold coins is the inflation threat from China. This threat is driving many Asian investors to buy gold, which is influencing world demand for the precious metal.
US Mint Gold Coins: For Sale in 2011
Coin Update News has announced the debut of the Abraham Lincoln Presidential Dollar Coin Cover for numismatic sale in 2011. This is of great significance for serious collectors. According to the sales report of the Coin Cover, almost 23,373 units have already been sold, out of a maximum of 37,000 units. The number of coins sold has already exceeded the number sold of the previous release, which was of the American Presidency $1 Coin Cover featuring James Buchanan. The popularity for the Lincoln Series is immense, as is apparent from the other recently released products. For instance, the sales of the Presidential $1 Gold Coin and First Spouse Medal Set were almost double of other presidential series.
According to a recent news article “A Preview and Summary of 2010 US Coins” published on Coin Update on January 29, 2011, the sales event of Presidential Dollars will enter its fifth year as the series of First Spouse Gold Coins is going to be launched soon. Circulating $1 coins of 2011 will honor presidents Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes and James Garfield. Similarly, 24 karat gold coins of one half ounce gold content will honor their wives – Eliza Johnson, Julia Grant, Lucy Hayes, and Lucretia Garfield, respectively. These coins will remain on sale through the year unless stock run out.
There are dozens of authentic great gold pieces. Prices are exceptional for various coins and this sale offers pretty convincing evidence that great coins are back in demand.
A report by Reuters, published on January 31, 2011, says, “Looking ahead, dealers expected steady purchases from India before the wedding season, while some consumers in Hong Kong could be stocking up while waiting for the market in China to reopen after the Lunar New Year.”