Gold Bullion Prices Down, Gold Coin Sales Up
The price for gold bullion was just over $1,600 an ounce as of February 21, 2013. However, this gold bullion price is down -3% for the month of February 2013.
However, gold coins are seeing a different trend. Nineteen days into February 2013, the amount of Gold American Eagle coins sold has already doubled the total amount of coins sold in all of February 2012.
Silver has seen similar trends. As of February 19, 2013, the price of silver was just over $30 an ounce. Thus far into February 2013, the price of silver has seen about a -4% loss. However, like gold coins, silver coin sales are growing in popularity, and sales are increasing. In fact, the U.S. Mint has already sold more silver American Eagle coins thus far into February than the total amount sold in February of last year.
The decline has led some experts to believe that gold bullion will experience a sell off period over the coming weeks and months. This bodes well for those looking to invest in gold, especially gold bullion, because prices are decreasing, and a sell off will boost the overall available supply. Gold coins continue to be a popular investment, for both financial and personal reasons (investments and collections)
Gold and silver prices have both seen similar declines throughout history. However, despite these declines, the prices have always bounced back, making the precious metals more and more valuable over time. Like other investments, some people wait until the prices are down, and invest during times like these to maximize every dollar spent. The influx of investments and purchases due to the reduced prices often spurs a subsequent growth trend.
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