Coin Market Fundamentals

Market Movers & Shakers

By Jaime Hernandez

PCGS #

9840 9850 100065 9820 9830 100035 9870 100045 9822 100085 DESCRIPTION

1990 $10 Gold Eagle 1991 $10 Gold Eagle 1991 $10 Gold Eagle Augustus Saint Gaudens 1988 $10 Gold Eagle 1989 $10 Gold Eagle 1988 $10 Gold Eagle Augustus Saint Gaudens 1993 $10 Gold Eagle 1989 $10 Gold Eagle Augustus Saint Gaudens 1988 $25 Gold Eagle 1993 $10 Gold Eagle Augustus Saint Gaudens DESIG

MS MS MS MS MS MS MS MS MS MS GRADE TODAY'S PRICE

69 69 69 69 69 69 69 69 69 69 1,900 1,950 2,025 1,420 1,420 1,495 1,358 1,495 3,400 1,433 PRICE AS OF 1 YEAR AGO 900 950 1,025 728 753 803 750 828 1,900 825 GAIN

1,000 1,000 1,000 692 667 692 608 667 1,500 608

A variety of modern coins are moving up the ranks as the top market movers and shakers of the summer.

% CHANGE

111.11% 105.26% 97.56% 95.06% 88.58% 86.17% 81.03% 80.55% 78.95% 73.66%

Midway into the year, the modern coin market is still showing lots of strength in many areas. In this installment, I’d like to focus on a very popular coin series that’s considered a huge part of the marketplace, not only for modern coin buyers and sellers, but also for vintage buyers and sellers. Th e series I'm referring to is none other than the bullion American Gold Eagles, which debuted in 1986 and are considered modern coins. Since their inception, these gold coins have attracted collectors, dealers, and investors who mainly deal in vintage coins.

Th e American Gold Eagles are very easy to move on either side of the spectrum, whether you are a buyer or a seller of vintage or modern coins. Th ere is also a large demand for American Gold Eagles because the gold content of the coins is guaranteed by the United States government, therefore, instilling trust and confi dence among investors and collectors of the coins’ gold purity. Not to mention, buying American Gold Eagles is one of the easiest ways to own gold. So, there are many reasons why the American Gold Eagle series is extremely popular. Moreover, certain issues have performed exceptionally well.

Let's discuss some of the standouts… 1990 $10 Mint State American Gold Eagle

The 1991990 0 $10$10 America American n Gol Gold d Eagl Eagle e in in MinMint t Stat State e ha has s se see en a huge groundswell of market activity in recent months. Courtesy of PCGS TrueView.

About a year ago, the coin was listed at a retail price of $900 on the PCGS Price Guide. Today, the same coin in the same MS69 grade has a retail price of $1,900 on the PCGS Price Guide. Th at’s a 111% increase in the past 12 months. Keep in mind, part of the value of the coin comes from its gold content alone, or its intrinsic value. Th is particular coin contains approximately 8.5 grams of gold, therefore, its gold content alone is worth about $475. Th is means the coin still has an approximate $1,500 premium, if we discount its gold content value.

Now that we’ve established this gold coin's performance, let’s dig in a little as to why this coin has increased in price signifi cantly in the past year. Some of the reasons have already been touched on; for example, its government-backed gold content makes it very attractive for both buyers and sellers. Th ere is also collector and investor demand for this coin. Additionally, the coin has a low mintage of just 41,000, making it one of the keys in the $10 Mint State American Gold Eagle series. Finally, this coin has been promoted by numerous coin dealers and market makers over the years. As a result, many have ended up in private hands, and as time goes by, fewer and fewer examples seem to be available. 1991 $10 Mint State American Gold Eagle

The e low low-min mint ta agege 19911991 $10$10 America American n Gol Gold d Eagl Eagle e in in MinMint t Stat State e has seen tremendous demand in recent months. Courtesy of PCGS TrueView.

Th e second coin in the graph also happens to be a $10 Mint State American Gold Eagle. However, the date for the second coin is from 1991, rather than the neighboring date of 1990. Th e 1991 $10 Mint State American Gold Eagle had a PCGS Price Guide retail price of $950 about a year ago, whereas today it retails for $1,950, or a 105% increase. Not a bad performance for any coin, and this one boasts many great attributes, including a super-low mintage of just 36,100 and status as a conditional rarity, with MS69 scarce and MS70 specimens rare.

If we keep looking at the remainder of the coins in the oneyear graph, most of the coins are also $10 Mint State Gold Eagles. Th is is a good indicator that most of the series has tracked extraordinary performance in the past year. Th e two coins we reviewed and the coins that are featured in the graph are just a few of this year's modern coin best performers, but there are many, many others that could join the list. Th e bottom line? Modern coins are hot!

Jaime Hernandez is an editor for the PCGS Price Guide and has been a proud member of the PCGS team since 2005. By the time he reached his early 20s, Jaime was successfully buying and selling coins with some of the most prominent dealers and collectors in the country. Email: jhernandez@collectors.com

TheThe LeaderaLeader inin BullionuBullion & & & NumismaticismaticNumismatic LoansLoansLoans

Over $250 Million in Loans Since 2005 Attention Dealers

Call for Special Inventory Financing Programs Retain Ownership. Access Equity. Simple Process.

Solutions Provided

Loans of $25,000 to over $10 million Competitive Rates

Fixed rates, pay-off anytime and no loan fees Segregated Storage

Depositories in Las Vegas and New York Quick Funding

Most loans funded in 2 weeks or less

www.CFCGoldLoans.com or (800) 232-5767 Limited Time Offer: Free Shipping for New Clients*

CFC CFC is is a wholly wholly owned owned subsidiary subsidiary of of A-Mark A-Mark Precious Precious Metals Metals (Nasdaq:(Nasdaq: AMRK) AMRK)