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of the United States
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U.S. Gold Down for the Year

December 3, 2018

     Gold is lower by nearly $100 an ounce since the beginning of 2018. The year began with Gold at $1,312 an ounce and traded as low as $1,178 in August. However, in the last two months Gold has traded in a fairly narrow range of $1,210 to $1,230. With Gold down for the year, U.S. Gold coins have also drifted to lower levels.

     At the beginning of the year, $20 Saints were wholesaling at $1,600 in MS65, and today they are at $1,500; that is lower by 6.25%. In fact most of the Saints have declined by the same percentage in AU58 through MS65, all down around 6%.

1907 $20 St. Gaudens High Relief Wire Rim MS63+ NGC CAC

1907 $20 St. Gaudens High Relief Wire Rim MS63+ NGC CAC is available at Heritage Auctions U.S. Coins Signature Auction in Beverly Hills, California, December 13-14, 2018

     The $20 Gold Liberty TIII is comparably lower, with AU55 through MS62 down by 6% on average. The MS63 has fallen 7.5% from $1,400 Market to the current $1,295. The MS64 has decreased considerably more with a 13.23% drop from $1,625 to $1,410. In contrast, the MS65 is actually higher at $2,500, up from $2,425.

     The majority of the grades, from G4 through MS62, in the $10 Gold Indian series are down around 3% since the beginning of the year. The higher grades are down even further with MS63 lower by 6.29%, currently at $745, and MS64 even lower by 12.73%, currently at $960. MS65 and MS66 are also down by 3.37% and 11.97%, respectively. The MS66 has lost $700 for the year, now down to $5,150 Market.

     The downward trend continues for the $10 Gold Liberty with Motto, as G4 through MS62 are all lower for the year, at about 3% or so. The MS63 and MS64 are both down a little over 11%, now at $685 and $965, respectively. The MS65 began the year at $2,275 and is down to $2,025, nearly 11%. The MS66 is lower at $3,600 from the year’s high of $3,950. This coin was Market priced at $8,500 in 2010.

     The $5 Gold Indian in MS65 had a very thin trading range throughout the year, with a high Market price of $6,675 and currently at $6,600, down just 1.12%. Yet, the lower grades of G4 through MS64 were all considerably down, as much as 18%. The MS62 and MS63 were the worst performers, down to $465 and $745%, respectively. The MS64 dropped from $1,775 to $1,540, a decline of slightly over 13%.

     The $5 Gold Liberty with Motto in MS63 through MS65 grades are down over 10%, while the lower grades of G4 through MS62 have dropped up to 5.5%. The MS66 has lost the most during the year, down from $3,175 to the current $2,500, just over 21%.

     $3 Gold is the one series that bucked the downward trend. MS61 through MS65 are all higher for the year with increases up to 16.5%; the MS64 was up from $3,400 to the current Market of $3,950. With the circulated grades already at reasonable levels at the start of the year, there has been very little change throughout.

     In the $2½ Gold Indian series, the MS64 was the worst performer for the year, down over 20%, from $740 to $590 Market. However, the MS66 is actually higher by 2.5%, from $5,000 to $5,125, an indication that available supplies are thin for this grade. The grades for the rest of this series are down from 5-17% with the spread between the MS60 and the MS63 grades just $120.

     The circulated grades in the $2½ Gold Liberty series are mostly lower by 3-11% and the Mint State coins in MS60 through MS63 are lower by about 2%. However, the MS64 and higher grades dropped in value as much as 16%. This does not appear to be a very popular series at the moment with more sellers than buyers by far.

     The $1 Gold TI & TIII were generally higher in grades MS64 and lower, while the MS65 and higher all fell since the first of the year. There is a good supply of MS65 and MS66 TIII coins available in the market. The TII coins saw a general downturn throughout the grades from MS65 down to XF40 with most losing 3-4%.

     With premiums for Gold bullion at near record low levels, the current market for early U.S. Gold coins should provide a greater opportunity at potential profits.

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