Is it Still a Good Time to Buy Gold?

Posted on September 16, 2010 by

Gold hits another all time record high today as it last traded at $1,277 an ounce. It’s hard to imagine that in 1970 the price of gold was only $35 an ounce! (Yes, that’s thirty five dollars an ounce).

Gold Bars When gold makes big jumps, so do the prices of many modern gold bullion related coins. For example, Gold eagles trade very close to spot prices, just like Gold Buffalos, many Gold Commemoratives and even most Gold Spouse coins.

 The U.S. Mint first began striking Bullion Gold eagles back in 1986, when Gold was at about $340 an ounce. Every year since then, the Mint has offered some form of bullion gold related coins to collectors close to the price of gold. Most collectors, who purchased coins directly from the U.S. Mint or at a close percentage close to the spot price of gold, have done tremendously well with their coins.

I sure wish I would have purchased Gold eagles back in 1986, but unfortunately, I was only 7 years old at the time. So it makes me wonder, with the price of Gold being at an all time high, is it still a good time to Buy Gold?

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