Coin Dealers Predict Gold, Silver Up in 2012
Coin Dealers Predict Gold, Silver Up in 2012
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Coin Dealers Predict Gold, Silver Up in 2012
Poll: Coin Dealers Predict Gold, Silver Up in 2012, But Estimates Vary
Increases in gold and silver prices are predicted in 2012 by some of the nation's top rare coin and bullion coin dealers, according to a poll conducted among members of the Professional Numismatists Guild.
Published: Tuesday, Dec. 27, 2011 - 6:17 am TEMECULA, Calif., Dec. 27, 2011 -- /PRNewswire/
How will gold, silver and other precious metals perform in 2012?
Year-end predictions by experts with decades of experience in buying and selling gold, silver and other bullion coins with the public almost unanimously point toward price increases. However, some of their opinions significantly vary on how high the increases will go in the next three months and a year from now, according to the Professional Numismatists Guild (www.PNGdealers.com), a half-century old, non-profit organization composed of the country's top rare coin and bullion coin dealers that conducted an opinion poll of its members.
PNG officials report their members' predictions on where gold will close at the end of the first quarter in 2012 ranged from a low of $1,475 per ounce to a high of $2,155, with a mean average of $1,759.57. Their estimates for gold at the end of 2012 varied from $1,450 up to $2,575 with the average $1,976.22.
Predictions about silver in the first quarter varied from $24.35 per ounce to $57.50 with a mean average of $34.04, and from $23 to $130 with the average of $48.73 by the end of 2012.
"Thirty PNG member-dealers responded to the opinion poll that was conducted between December 16 to 23, 2011," said Jeffrey Bernberg, PNG President.
"These are professionals with an average of over 35 years each of front line experience buying and selling American Eagles, Canadian Maple Leafs, South African Krugerrands and other precious metals bullion and rare coins with the public. Obviously, no one can accurately predict the precise future of the commodities markets, but many people have turned to precious metals and rare coins as an important part of their portfolios. With the uncertainty of world economic events, it is more important than ever to deal with reputable, experienced dealers when buying or selling."
PNG members were asked where they think U.S. spot prices will close on Friday, March 30, 2012, and also on Monday, December 31, 2012. Here are the low and high estimates and mean averages of the dealers' opinions on silver, gold, platinum and palladium by the end of the first and fourth quarters of 2012.
Silver, end of first quarter 2012 :Lowest prediction: $24.35Highest prediction: $57.50Mean average (30 respondents): $34.04
Silver, end of fourth quarter 2012 :Lowest prediction: $23.00Highest prediction: $130.00Mean average (28 respondents): $48.73
Gold, end of first quarter 2012 :Lowest prediction: $1,475Highest prediction: $2,155Mean average (30 respondents): $1,759.57
Gold, end of fourth quarter 2012 :Lowest prediction: $1,450Highest prediction: $2,575Mean average (28 respondents): $1,976.22
Platinum, end of first quarter 2012 :Lowest prediction: $1,335Highest prediction: $2,050Mean average (27 respondents): $1,602.64
Platinum, end of fourth quarter 2012 :Lowest prediction: $1,400Highest prediction: $2,200Mean average (27 respondents): $1,818.83
Palladium, end of first quarter 2012:Lowest prediction: $515Highest prediction: $1,012Mean average (25 respondents): $694.03
Palladium, end of fourth quarter 2012:Lowest prediction: $622Highest prediction: $1,525Mean average (25 respondents): $815.65
Disclaimer
This post contains an unedited press release distributed by PR Newswire. These releases reflect the views of the issuing entity and are not reviewed or edited by FUN Forums. More information on PR Newswire can be found on their web site.
The Professional Numismatists Guild was founded in 1955. Membership requirements are strict, and PNG members must adhere to a strict Code of Ethics that prohibits use of high pressure sales tactics and misrepresentation of the value of items being sold. PNG members must demonstrate knowledge, responsibility and integrity in their business dealings. They also must agree to binding arbitration to settle unresolved disagreements over numismatic property. A complete list of PNG member-dealers can be found online at www.PNGdealers.com.
For a copy of the informative pamphlet, "What You Should Know Before You Buy Rare Coins," or a printed directory of PNG member-dealers, Email at info@PNGdealers.com, or visit the web site at www.PNGdealers.com.
SOURCE Professional Numismatists Guild
In Related News
PNG President Optimistic About 2012 Marketplace
December 12, 2011 Willowbrook, Illinois) -- The President of the Professional Numismatists Guild
(www.PNGdealers.com), Jeffrey Bernberg, predicts the 2012 market for "mega-rarity" coins will continue to be strong and the popularity of modern issues and mid-to-upper range paper money will continue to get collector support during the new year.
Based on his personal prognosis and comments he's heard from dealers and collectors across the country, Bernberg has issued an informal PNG President's State of the Market Outlook with forecasts for five areas of the market in 2012: modern issues, mega rarities; low-to-moderately priced numismatic collectibles, gold coins and paper money.
"Modern issues will continue to be extremely popular, as we've seen with the recent sell out of the United States Mint's 25th Anniversary Silver Eagle sets in less than one day. The huge number of collectors who support this market will continue to do so," said Bernberg.
Mega rarities, such as 1804 dollars and 1894-S dimes, will stay on fire in 2012, and we'll see more world record prices for 'one-of-a-kind,' famous rare coins. The current prices for these Mona Lisa's of numismatics will seem cheap in years to come," he predicted.
"Typical, common numismatic material will be the laggards of the hobby in the coming year. Even with the potential of the economy improving, too many collectors are more worried about their jobs and paying their bills than adding to their collections. In some areas -- such as circulated Morgan and Peace dollars, circulated copper and silver coins from the mid-late 19th century, pre-1955 commemorative half dollars and commemorative gold issues with the exception of the Panama-Pacific $50 coins -- there will no doubt be more selling of collections than adding to them."
Bernberg believes other gold coins, both common "generic" as well as specific dates and mintmarks, will do extremely well in 2012.
"Premiums -- the percent over the melt value -- will increase on generics as availability dries up and we continue to see the kinds of large purchase orders that have become prevalent in the past year or so. Premiums will work their way back to the traditional levels we've seen over the years. Rare dates will shine. Few collectors and dealers realize just how much rarer some gold coin dates are compared to common, generic gold of the same type, yet still sell for just a few dollar more than their common counterparts."
After a decade of steady increases, the paper money market experienced price corrections in late 2008 as the U.S. was feeling the effects of a sluggish economy. Bernberg says PNG Board member and long-time paper money dealer James Simek points out that the U.S. collector currency market has stabilized and has begun to show increasing price levels.
“While so-called “lower-end” paper money items continue to experience weakness since buyers of that material remain on the sidelines, mid-to-upper range notes are doing quite well. Large size type notes and National bank notes continue to have robust support at auctions, and decent price levels are achieved on a regular basis. Jim Simek believes the 2012 outlook for U.S. collector currency is actually quite bright since those who have been around the market for any period of time realize that ‘valleys’ on a chart eventually give way to peaks."
Bernberg, who became PNG President this past August for the 2011 - 2013 term, is Vice President of Rare Coin Company of America (RARCOA) in Willowbrook, Illinois where he's worked since 1974.
Founded in 1955, the PNG has 270 members in the United States and seven other countries. PNG member-dealers must adhere to a Code of Ethics in the buying and selling of numismatic merchandise.
Counterpoint
Major Gold Market Changes Coming in 2012
December 27, 2011 By Patrick A. Heller
The gold and silver markets took us on wild rides in 2011. Guess what? They will be even more volatile in 2012.
Read entire article
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