Gold Prices Starting February On A Mellow Note

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Gold Coins

Gold started the first full week of February on a tepid note, closing Monday, February 3, having recovered some losses seen earlier in the day. It looks to be the start of another mellow month for the yellow metal, with gold trading around $1,575 but not showing any real signs of sustained upward — or downward — momentum.

The question many gold investors ask is if now is the time to buy gold. While we at COINage are not prognosticators, it’s fair to say that gold should not be regarded as a pure investment but rather as a hedge against inflation and an insurance policy sheltering away a bad economy.

If this is a move that makes sense at the $1,575 level (per ounce) then one should buy gold coins, which are highly liquid and have wide crossover appeal with the numismatic market. At the present, pre-1933 double eagles can be obtained for a lower premium over melt than even some modern American Gold Eagles, suggesting this might be a wonderful buying opportunity for those who wish to collect those vintage gold coins.

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