Thursday, March 1, 2012

Gold Coins-You Gotta Love 'Em

On a recent trip to visit friends in Arizona, our first stop was at a rest area on the Minnesota/Iowa border. There is also a casino across the road so the wife and I decided to try our luck before heading on down the road. It quickly became evident that luck was not with me that day so I wandered around looking for a ticket redemption machine to cash in my meager leftovers. What I discovered was a meeting room at the rear of the casino floor with a "Coin Show" sign outside.

I immediately forgot about cashing in the ticket and ventured in to see what there was to see. The room had a number of coin dealers with some nice selections of gold and silver coins. After checking the offerings and making a small purchase, we were on our way again.

As we continued on with our trip I was reminded again of the value of what these dealers were offering. This building holding the coin show is pretty much in the middle of nowhere, surrounded by farm fields as far as the eye can see. And yet the coins, especially the gold coins, available for anyone there to buy are recognized for their value worldwide. Whether you are in Minneapolis, Paris, Hong Kong, Sidney or Buenos Aires your Gold Eagles, Gold Maple Leafs, Krugerrands, etc. can be redeemed for local currencies or other available "treasures". That's why you should have and hold some gold bullion coins.

Well true to form the Gold and Silver Eagles reported as being produced by the U.S. Mint for February were a shadow of their January numbers.

one-ounce gold eagles - 20,000 (versus 84,500 for January)
half-ounce gold eagles - 0 (versus 49,000 for January)
quarter-ounce gold eagles - 2,000 (versus 38,000 for January)
tenth-ounce gold eagles - 5,000 (versus 85,000 for January).

Silver Eagles came in at 1,490,000 which is less than 25% of January's 6,107,000. Maybe February is a catch-your-breath month for them and we'll see if March's numbers are significantly better.

Just a reminder about my Gold Investing web site where more gold info can be found.

Thanks for reading.

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