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1986 $50 US GOLD EAGLE PCGS MS69 - No Reserve!
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1986 $50 US GOLD EAGLE PCGS MS69 - No Reserve!
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1986 $50 US GOLD EAGLE
PCGS MS69 PCGS MS69 is one of the highest grading from PCGS! KM# 219 Denomination $50 Country United States Coinage Type American Eagle Bullion Coins Mint U.S. Mint Composition Gold Fineness 0.9167 Weight 33.931 g 1 oz AGW Diameter 32.7 mm Designer Obverse Augustus Saint-Gaudens Designer Reverse Miley Busiek Gold Train Moving Full Steam Ahead By Alan Demby, World Coin News June 17, 2009 With an increasing number of analysts and commentators predicting strong gold price advances, the bullish bullion train is gaining momentum. Thus, in the past few weeks: " The legendary Warren Buffet has expressed himself strongly in favor of investing in the yellow metal; " UBS Investment Research forecasts gold to hit $2,500 an ounce in the next five years as prospects of either deflation or inflation are "becoming more extreme;" and " Citigroup analysts Alan Heap and Alex Tonks have raised their gold forecast to an average $925 an ounce in 2010, from a previous estimate of $900. The rapidly growing demand for gold coins my company, the South African Gold Coin Exchange, has been experiencing in recent months, and in the past year, strongly suggests that the gold bull market is well set to extend itself strongly into the future. This is smart money buying and, over the years, I have learned that it is short-sighted to ignore what the smart money is doing. During the course of 2008, the value of SAGCE's sales of gold coins, primarily krugerrands, was a substantial 80 percent higher than in 2007. Especially popular were the gold Nelson Mandela medallions, partly because of their sentimental attraction and partly as a result of their gold content. Yes, I accept that SAGCE has grown its market share, but this has played no more than a minor role in our headlong revenue growth, which I am convinced emanates from a belief that gold is the ultimate hedge against the uncertainty generated by the global financial meltdown. Significantly, our experience at SAGCE echoes global trends. In the fourth quarter of 2008 compared with the equivalent 2007 quarter total bullion demand in India, the world's largest gold market, was up 84 percent; gold demand in Greater China was up 21 percent; Demand in Thailand soared over 100 percent; and Middle Eastern gold bar and coin demand rocketed 139 percent. Record demand has also spilled into the first quarter of this year, sending total global demand for gold in the form of exchange-traded funds (ETFs), coins, bars and futures past the $100 billion mark - for the first time ever. Moreover, gold demand via ETFs shot up by an amazing 469 tons - a full 223 percent over the previous record set in the third quarter of 2008. Coin and bullion demand is expected to be just as strong as the 396 percent surge in the fourth quarter of 2008. It should be no surprise, then, that the price of gold continues to trade above its 1980 high of $850 - and is rising. All the data clearly reveal that we are looking at a bull market more powerful than almost anyone is ready to admit - so powerful that it would not come as a surprise if the price hit $2,000 before the end of next year. A recent Bloomberg report is highly instructive. Bloomberg noted that the Royal Mint, established in the 13th century, used 75 percent more gold in the first quarter of 2009 amid a surge in demand for bullion to diversify investments. "The UK mint made 28,496 ounces of gold coins in the quarter, compared with 16,317 ounces a year earlier," according to data obtained by Bloomberg News under a Freedom of Information Act request. Demand for gold and ETFs linked to the metal accelerated as equities collapsed and governments spent trillions of dollars to combat recessions. "The Austrian mint - sold a record 1.5 million ounces of gold last year, while the US Mint's sales of 1-ounce American Eagle gold coins more than quadrupled in January to 92,000." Bloomberg noted that gold had advanced for eight consecutive years, its longest w... 
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