Skip to main content

Gold on all minds?

I am headed for the Florida United Numismatists convention this morning. It is back at the familiar convention center in Orlando, Fla., after being temporarily away in 2011.

A great convention will get the year started right. Will collectors be in a buying mood, or will bullion investors take over the action? I can’t wait to find out.

Gold started the year yesterday by shooting higher by $33.90. It closed at $1,599.70 in New York trading. Another strong day would make a lot of potential buyers eager to get their deals done.

Silver also was strong yesterday, rising $1.658 to close at $29.533.

Heritage will be offering some fantastic auction lots. Gold coins are heavily represented. I imagine the firm hopes collectors will be as emboldened to buy gold coins by the change in the calendar year as the bullion market traders were yesterday.

Speaking of gold, I had a phone call yesterday from someone who had the Nov. 22 issue of Numismatic News in his hands. It carried a front page story about the record 1,000-kilo Australian gold Kangeroo coin then worth over $55 million.

The caller wanted to order one. I told him my firm did not sell coins (let alone the largest gold coin in the world). Then he asked if I could place an order for him. I told him that as a newspaper editor I could not do that for him.

He didn’t sound like he was related to Bill Gates, but if he is, I guess I blew my big chance.