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Sunday, March 2, 2008
Metal Prices on Fire
"Should I buy or should I sell?"That's what owners of bullion coins are asking themselves as gold and silver prices climb higher each day.Meanwhile, dealers are finding themselves busy doing both."With oil hitting over $100 a barrel, gold near $1,000 an ounce and silver near $20 an ounce, it's created a lot of activity," said Scott Thomas, president and chief executive officer of American Precious Metals Exchange.Any BU $20 Saint-Gaudens gold coin, for instance, is selling for close to $1,000."I think a lot of people are selling a lot of bullion products they bought when silver was under $10 an ounce," Thomas said. "Here is a chance for people to double their money." A bullion coin gets most of its value from the metal value, while a collector coin gets most of its value from its rarity.
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