Don’t pay too much for proof Eagles

There is a seasonal pattern to pricing for proof gold and silver American Eagle coins.

Collectors should be aware of it and avoid paying higher prices not related to the prices of gold and silver.

What causes this is the April 15 filing deadline for income tax forms to the federal government.

Many persons, and I must say I include myself, often don’t make a contribution to their Individual Retirement Accounts until they are ready to file their latest taxes.

Individuals who are putting coins in their IRA accounts (and I am not one of them) create a bulge in demand for these at this time of year.

Premiums over bullion value rise.

Buyers then get less bang for their bullion buck.

Combine this with the phenomenon that gold and silver tend to get stronger in the opening weeks of a new year and then back off late in the year, and you create a double whammy.

Now I do not expect that there are many coin IRA owners who read my blog.

They tend not to be coin collectors.

However, collectors should be aware of this demand bulge.

If they are inclined to buy proof gold and silver American Eagles as collectibles, it would be better to wait for tax season to come to an end.

Since both series now stretch back over 30 years to 1986, I expect more and more collectors will attempt to put sets together, especially for the proof silver Eagles.

The silver coins are financially within reach of most collectors.

They make a handsome set.

It is large enough to be impressive, without being so large as to be daunting.

The key 1995-W also keeps the set from being a complete pushover, which keeps things interesting.

People reflexively state that the government has huge power to mess things up.

You will get no argument from me.

They should remember that this power to mess things up extends right down to the collector marketplace for proof gold and silver American Eagles.

Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."

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