How does the cost of gold coins nowadays compare with past rates for these ventures? Gold has reached incredibly high prices in the last couple of years and currently trades on the market for about $1,580. This market price is below the cost charged for an ounce of gold coins because there’s a considerable mark up in price by numerous sellers. In the past gold was much more inexpensive to a broader number of investors but nowadays a lot of people find that this rare metal has a cost that is out of reach.
In 1972 gold rates reached a record at the time when the precious metal went over $50 an ounce. Up until this year gold had never expense $50 per ounce at any time previously. In 1974 the price had jumped to over $150 per ounce and by 1979 the price was more than $300. During 1980 the price of gold climbed to greater than the price $600 an ounce but the following year began to come down some.
With the current price of gold coins today as high as $1,750 or maybe more per ounce after dealer markups it is no wonder that investors have turned to gold in all forms. In 2005 gold was priced at around $440 per ounce, and 7 years later in 2012 the price has almost quadrupled.
The historical price of gold also shows the state of the US economic system. Gold prices tend to go up when the American economy weakens, and the current recession is cited among the most influential causes of the gold price shooting up. Gold coins may help hedge towards a weak dollar and these are considered valid foreign currency. Some collectors stash these coins just in case an economic fall takes place.
For those looking to acquire coins for the gold content the record breaking value of gold may mean now is not the perfect time for this activity. A few analysts think that the current value is not supportable while others take the view that the value could rise even further in the next few years.
The gold price today compares very favorably to the prices in the past for individuals who own these coins.
