UHR gold $20 sales to end soon
December 11, 2009
The two-minute warning has been given by the U.S. Mint on sales of the 2009 Ultra High Relief Saint-Gaudens $20 gold piece.
It will go off sale at 3 p.m. Eastern Time on Dec. 31.
Sales as of Dec. 6 totaled 108,207 pieces.
How many more of these historic coins will hobbyists be able to purchase in the short period of time remaining?
Can they snap up 10,000 or 15,000 of them? That might be a good bet. There is nothing like the imminent closure of a program to get the fence sitters to move one way or the other.
Investors in gold might consider buying a few just as a means to hold bullion. Yes, I know the premium on this coin is high, but with bullion coin shortages still plaguing the gold market, this might make a fancy substitute.
Or, at least this would be good advice to a telephone caller to Bob Van Ryzin, a colleague here in the Iola office, who told him that he had just purchased $30,000 worth of gold coins for 30 percent over melt value.
I doubt the friendship will last long beyond this particular transaction, but the seller probably already figured the money was worth it.
And, if you are willing to pay that kind of money for ordinary bullion coins, why not splurge on the beautiful and unusual?
Something to add? Notice an error? Comment on this blog.