Morning everyone.....
If you have been reading my recent posts, then you are aware that the US Mint has stopped production of all fractional gold coins already with the old designed reverse.
The total mintage for the quarter ounce gold American Eagle is at 36,000 coins. This will make it the lowest mintage ever for the quarter ounce ever from the US Mint.
Premiums on gold coins have been absolutely insane with 12-15% premium. So I went looking for a raw quarter ounce gold American Eagle.
Over 90% of the dealers didn’t have them, a couple had them on pre-sale for ridiculous amounts. On my second to last dealer check I hit pay dirt.
Don’t get me wrong, I still grossly overpaid for this coin as far as I’m concerned. But I did manage to get a perfectly graded MS70 type one designation quarter ounce gold American Eagle first strike from PCGS, for only $28 more then a raw one anywhere else.
Lookie lookie.....
I did not buy the gold content on this coin. I am speculatively looking at the gains this coin will make in five or so years.
The next closest year in mintage is the 1991 quarter ounce gold American Eagle coin, and these are selling for BIG BUCKS. The range is from $1500 low end to $2000 high end. Why such a big difference I don’t know.
Here is a picture of one that sold in the last two months.
I think this coin has the potential to be more desirable then the 1991, and that my friends is why I made this investment.
Only time will tell, but once the mintage numbers are spoken about more. There will be a huge demand on this perfect MS70 for collectors. My guess would be within a years time I might double my money.