right now it is 275.500 USD.
Until the dollar breaks, you probably will not see a rise in gold. In this period of unusual central bank astuteness and high paper asset returns, the dollar itself has taken over the role of gold. But as Edward Gibbon said in Decline and Fall…, no government in recorded history as ever resisted stealing from its citizens (in the form of inflation). My guess is that the lure of resurgent East Asian economies or a Democrat controlled Congress will break the dollar and cause a gold runup.
Sheesh! Picky, picky. Let’s try that again:
In the last 5 years, while gold “spot” price has fluctuated between $275 and $335 or so, uncirculated $20 gold pieces from the 1800s and 1900s have been selling for about $550 (common dates/mintmarks). Today, for some reason, they’re $200 less. So while “spot” price has been as low as it is right now (even lower), the rare coin market dictated that these coins were still worth $500 or so. Now obviously, if you just wanted to buy gold, you’d be better off buying 1-oz Krugerrands, because they generally sell for a couple percent over spot. But my original point was that for whatever reason, the retail price of these $20 gold pieces has dropped, meaning that if (like me), you’ve been watching them from afar and always wanting to own one, now seems to be the time to get it.