Gold seems to like the price of $1,200 an ounce.
The precious metal crossed that line yet again this morning according to the Kitco website.
How many times has it done so in recent months?
I haven’t been counting. Have you?
I probably should have been.
I commented a while back that each time this happens it is something like personally experiencing the plot of the movie “Groundhog Day.”
But what I do not know is what I am perfecting in the process of living this event over and over again.
Bill Murray’s character turned into a better person, gained love and achieved a happy ending.
What will be the happy ending for coin collectors?
What I know is that we have returned to this gold figure repeatedly since October.
Sometimes the price falls through it. Sometimes it jumps through it. But we always end up back at this nice round number.
Perhaps someone somewhere buys gold coins from the Mint that they resisted buying when gold was on the upper end of its current trading range.
Certainly making purchases at the lower end is smart.
Does $1,202.50 appeal to you as a price for last year’s proof gold Kennedy half dollar?
Now that we are eight months beyond the wild scenes of last year’s Chicago American Numismatic Association convention, considering the Kennedy purchase has become one of cold calculation.
How about $1,590 for the one-ounce gold proof Buffalo that went on sale yesterday? Does that appeal to you?
Then there is the $1,560 price of the 2015 one-ounce gold American Eagle coin.
If these three coins do not tempt you, the full gold Eagle proof set is available as are First Spouse coins and gold U.S. Marshals commemoratives.
Perhaps gold has become a little boring.
Fifteen years ago gold was boring when it was trading below $300 an ounce.
Feature stories that I published then that laid out the many gold coins that hobbyists could consider collecting elicited hardly any response at all.
It was only when bullion started vaulting ahead that interest increased and buyers started chasing gold coins.
Rather than wait for the next race higher to start, perhaps the best use of this time of boring gold is to consider what it is you want to achieve with the precious metal in the next 10 years.
Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."