Gold @ $1150 Per Troy Ounce

Gold continues its impressive climb, today surpassing $1150 before dropping back a bit. Is investing in gold out of your reach at these prices? Don't forget the "Poor Man's Gold". I am talking about silver which is at $18.54 as I write this.

When someone mentions investing in silver, many people think of Silver American Eagles. The U.S. Mint has struck 25,006,500 year-to-date (as of yesterday) just to give you an idea how popular they are. Premiums over the spot price are up too. But don't forget pre-1965 U.S. Silver coins which are 90 percent silver.

Circulated U.S. silver dollars contain .7650 troy ounces of silver, half-dollars contain .3575 ounces of silver, quarters contain .1788 ounces of silver and dimes contain .0715 ounces of silver (14 dimes equal about one ounce of silver). This information should help you determine reasonable prices to pay for these coins when you know the current spot price of silver.

Gold Investing - Gold Closing In On $1100

In case you missed the news, spot gold closed at $1084.50 today even with a strengthening U.S. dollar. There are many predictions on how high gold will be by year end but it looks like it will leave the 2008 year end spot price of $885.50 in the dust.

The interest in owning gold bullion coins is gathering strength too. The U.S. Mint reported a total of 115,500 American Gold Eagles were struck in October which bring the year-to-date total of gold eagles to 1,069,500. Silver eagles had impressive numbers too - 2,939,000 for October and 23,406,500 year-to-date.

I hope you are the proud owner of some of these gold and silver coins as the picture keeps looking better and better.

Happy investing.