According to precious metals experts, gold investors should stay away from numismatic gold coins. The reason for this is because not only are numismatic coins heaps more expensive than bullion gold coins, but they also have a very small market.
But despite the negative attitude toward numismatic gold coins, it seems that the market for them is very much alive. The Chicago World?s Fair of Money ? a coin show spearheaded by the American Numismatic Association from August 1 10 ? was a huge success, being attended by thousands of numismatic gold collectors. Some of the attendees even lined up really early just to purchase some gold coins.
There was a bunch of coins on display at the 10-day show, but the most popular coin of them all was the new John F. Kennedy gold coin ? a half-dollar minted to commemorate the 50th death anniversary of the beloved former U.S. president.
The new JFK commemorative gold coins were priced at $1,240, which is a little less than good delivery gold?s price per ounce today. According to The Palm Beach Post, the queue to buy the coins at the show was very long, and around 57,000 orders have been placed.
Theres a big difference between numismatic and bullion gold coins. Investment site BullionVault asserts that numismatic coins are more volatile than bullion prices, since the formers prices fluctuate both with the price movement of gold in the market, along with the sentiments of rare coin collectors. On the other hand, bullion coins are simply priced by multiplying their gold content with the current market value of the precious yellow metal.
The JFK 50th death anniversary gold coins each contain ? of an ounce of 0.99% fine, 24-karat gold. It will also have the original 1964 design that was created by Gilroy Roberts, the U.S. mint?s chief sculptor and engraver from 1948 and 1964.