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Gold Hits $1300, Silver Reaches $20 On Fed Policy Worries

Precious metals investors were mostly smiles this week as gold and silver both surpassed vital technical thresholds. Minutes from the Federal Reserve’s latest meeting helped to spur the spike in gold and silver prices, and factors such as short-covering, safe-haven buying and good old-fashioned bargain hunting helped gold and silver reach $1300 and $20 per ounce, respectively.

Prices for bullion items such as American Eagles, Canadian Maple Leafs and Austrian Philharmonics rose by about $35 over the course of the week in the form of gold and gained approximately $1 when comprised of silver. Certified coin prices found on the Professional Coin Grading Service Price Guide (www.PCGS.com) were recently updated as well.

Investment-grade (lowest-priced) Liberty Head $20 coins are up substantially from the uncertified grades all the way through MS (Mint State) 64 examples. MS62 Lady Liberty one-ounce gold coins now bear a national average retail price of $1790 on the PCGS Price Guide, up from last week’s $1750 price. Grades MS63-MS64 also rose by $40 each to $1990 and $2205, respectively.

Saint Gaudens Double Eagle gold coins, the successor to the one-ounce Lady Liberty gold coins, are now valued at $1755 in the MS62 grade, up from $1720 last week, according to PCGS. MS63 examples of St. Gaudens coins are currently listed at $1850, an increase of $40 per coin. MS64 Saints, the top-performers for most of the last decade, went from $1895 to $1935 this week.

PCGS-certified silver dollars did not perform as well as gold this week. Although the silver spot price rose above the $20 per ounce mark this week, gold’s rising value stole the spotlight and caused many investors who would have otherwise placed their money in silver to rethink gold. The majority of silver Morgan dollars stayed flat, while some Peace silver dollars fell slightly, especially in grades MS63 and MS64.

GoldSilver.org never sells gold and silver coins at their PCGS Price Guide values. Discounted pricing is available by calling GoldSilver.org directly at 800-394-3337 or scroll down the page for a look at our offering of complimentary investment brochures.

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