Home U.S. Coin Forum

With the near 40% fall in the price of Gold...

ambro51ambro51 Posts: 13,580 ✭✭✭✭✭
...do "bullion" coin collectors (investorsimage ) who bought in at the near 2K level still enjoy their coins?
«1

Comments

  • jmski52jmski52 Posts: 22,301 ✭✭✭✭✭
    I've "bought in" at all various levels, and collecting a bullion series is enjoyable, yes.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BoosibriBoosibri Posts: 11,839 ✭✭✭✭✭
    In a similar manner, I have been curious if the bullion-stackers have been able to rationalize the move in price versus the massive losses in precious metals.

    I have always laughed at the fact that senior commodities traders won't touch silver due to the volatility and manipulation yet somehow so many people seem happy to hoard this stuff away at all price levels.
  • ms70ms70 Posts: 13,946 ✭✭✭✭✭
    It'll come back up sooner or later.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • jmski52jmski52 Posts: 22,301 ✭✭✭✭✭
    Have you dumped your classic coins because the market dropped? I'm more prone to sell my Large Cents than any of my bullion.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ambro51ambro51 Posts: 13,580 ✭✭✭✭✭
    Yes I've consigned items because I think the market overall is topped
  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭


    << <i>In a similar manner, I have been curious if the bullion-stackers have been able to rationalize the move in price versus the massive losses in precious metals.

    I have always laughed at the fact that senior commodities traders won't touch silver due to the volatility and manipulation yet somehow so many people seem happy to hoard this stuff away at all price levels. >>



    Even silver requires less storage space than corn or crude oil.image
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>Yes I've consigned items because I think the market overall is topped >>



    Hope you do well as you did pay moon money (wait let me rephrase that moving beyond our planet) uranus money for some of your items image

    I would have waited until after QDB's new HTT book hits the shelves in 2/15 to sell as at over 800 pages it's do to increase major interest in the series.
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    good point, I wonder if commodities traders of pork bellies have huge freezers full of them!!image
  • mustangmanbobmustangmanbob Posts: 1,890 ✭✭✭✭✭
    Yes / No

    My perspective, as but a grain of dust in the cosmos of coin collecting.

    I have been collecting off and on since 1963. I mostly collected numismatic things, and had pretty well stopped until my son got me started again about 10 years ago when he did the Boy Scout Coin Collecting Merit badge.

    With the run up in silver, I found I could take my mediocre Washington / Liberty Walking / Whatevers that I had pulled from change, and for a VERY modest premium, upgrade to a BU coin. For example, a 1959-D Franklin bullion was $5, and a BU was $5.50, so I upgraded my collection.

    BUT, reading here and other places, that it is a 50% bath to sell a numismatic coin back to a dealer made me think. I could buy that $500 coin, and be lucky to sell it for $300, or I could buy $500 in bullion, where I could find a stack of buyers who would give me about the same amount, providing the price of silver / gold had not changed.

    So, my numismatic coin had to go up 100% just to break even, whereas bullion could drop 50%, and my "loss" would be about the same as if I had purchased a numismatic item.

    So from a strictly P & L, bullion offered less risk, whereas coin collecting was strictly for personal enjoyment.

    Right now, I am selling off my numismatic items that I have decided not to continue that particular vector, and basically buying bullion. A few years ago, it was selling bullion to buy numismatic items. When silver hit $40 to $45, I sold off most all my "common" silver collection and bought PCGS Morgans and Peace Dollars.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    The bullion market has nothing.....repeat nothing......to do with the classic coin market!!
  • WildIdeaWildIdea Posts: 1,872 ✭✭✭✭✭


    << <i>...do "bullion" coin collectors (investorsimage ) who bought in at the near 2K level still enjoy their coins? >>



    Pondering the best way for me to answer this question it reminds me of the last time I sat with my retirement advisor. Upon purchasing a mutual fund, one is asked if your comfortable with low risk, moderate risk, or high measured against your age. Low being the safest and therefor the smallest returns, etc.

    I can see parallels in the coin market where a Classic Numismatic Coin being the lowest risk lowest return. Numismatic/bullion crossover piece as being moderate, and full-on Bullion as being the highest risk but with the potential for the highest, short term gainer. One can switch these around based on knowledge and ones position in the market, such as being a dealer or not for instance.

    So the question implies that one is ALL IN on one Bullion investment purchased at its peak. If so, your bummin. I personally saw that the high prices brought out sellers in mass and some unique items (high grade ore!, foreign gold bought as bullion, etc) that would normally be on the sidelines. So in some cases for me, I'm happy with the purchases at any price.

    We left our meeting with a cliche saying "investing is like manure, spread it around and it grows sh+t, leave it in a pile and it stinks" I love that one.



  • CoinspongeCoinsponge Posts: 3,927 ✭✭✭
    No worries. That guy on the radio said that gold will hit $5000 this year. image
    Gold and silver are valuable but wisdom is priceless.
  • ambro51ambro51 Posts: 13,580 ✭✭✭✭✭


    << <i>I would have waited until after QDB's new HTT book hits the shelves in 2/15 to sell as at over 800 pages it's do to increase major interest in the series. >>

    .........an interesting fact Broaddie and one I've fully calculated. I'm certain savvy dealers anticipate this also and I'll be more than happy to have them pay Pluto money for my pieces in Stacks Americana January. image
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    There is an inherent flaw in the question.


    Bullion collectors enjoy their coins like the ones which go up in value despite the price of gold. (I can point out several since '86)
    Investors and speculators who did their homework did enjoy that run and healthy returns. A very smart man around here called the top and even said the fall was coming.
    Those who read a lot , discover a lot. Those who follow the lot, stand to lose the lot. Each to their own. Sell me your half ounce Eagles. Paying over spot. image
  • OverdateOverdate Posts: 6,902 ✭✭✭✭✭


    << <i>The bullion market has nothing.....repeat nothing......to do with the classic coin market!! >>


    Maybe not at the high end, but the bullion market can have considerable effect on common classic material. During the 1979-80 silver spike, huge quantities of BU and circulated Morgans and lower grade Barbers and Seated Liberties were sent to the melting pot. In today's market this translates to fewer surviving specimens and higher premiums. If the price of silver spikes again, additional melting is likely to occur.

    My Adolph A. Weinman signature :)

  • BarndogBarndog Posts: 20,454 ✭✭✭✭✭


    << <i>

    << <i>I would have waited until after QDB's new HTT book hits the shelves in 2/15 to sell as at over 800 pages it's do to increase major interest in the series. >>

    .........an interesting fact Broaddie and one I've fully calculated. I'm certain savvy dealers anticipate this also and I'll be more than happy to have them pay Pluto money for my pieces in Stacks Americana January. image >>



    if they can log on, and the website doesn't crash, and bids can actually be entered, and...
  • ambro51ambro51 Posts: 13,580 ✭✭✭✭✭
    ......my bidders will be floor bidders
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>I would have waited until after QDB's new HTT book hits the shelves in 2/15 to sell as at over 800 pages it's do to increase major interest in the series. >>

    .........an interesting fact Broaddie and one I've fully calculated. I'm certain savvy dealers anticipate this also and I'll be more than happy to have them pay Pluto money for my pieces in Stacks Americana January. image >>



    if they can log on, and the website doesn't crash, and bids can actually be entered, and... >>



    That's my biggest fear consigning anything with S/B...

    A lot can completely uninteresting to floor bidders until a few internet bidders jump in and all of a sudden it rises from the dead.
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • MrEurekaMrEureka Posts: 23,891 ✭✭✭✭✭
    ...do "bullion" coin collectors (investors ) who bought in at the near 2K level still enjoy their coins?


    Frankly, I would be embarrassed to admit that I enjoy collecting bullion coins. Enjoyment has nothing to do with it. Bullion is for security and, hopefully, profit. It is not for pleasure.

    Rare coins are a different story.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    Altho my stash of silver and gold was fairly small, I did sell ALL of it near the top to put into Unique Error coins with super Eye Appeal.





  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭


    << <i>good point, I wonder if commodities traders of pork bellies have huge freezers full of them!!image >>



    I expecting they are being held in Siberia in street name with the sign on the door being changed every few minutes as they change owners.image
  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭


    << <i>Yes / No

    My perspective, as but a grain of dust in the cosmos of coin collecting.

    I have been collecting off and on since 1963. I mostly collected numismatic things, and had pretty well stopped until my son got me started again about 10 years ago when he did the Boy Scout Coin Collecting Merit badge.

    With the run up in silver, I found I could take my mediocre Washington / Liberty Walking / Whatevers that I had pulled from change, and for a VERY modest premium, upgrade to a BU coin. For example, a 1959-D Franklin bullion was $5, and a BU was $5.50, so I upgraded my collection.

    BUT, reading here and other places, that it is a 50% bath to sell a numismatic coin back to a dealer made me think. I could buy that $500 coin, and be lucky to sell it for $300, or I could buy $500 in bullion, where I could find a stack of buyers who would give me about the same amount, providing the price of silver / gold had not changed.

    So, my numismatic coin had to go up 100% just to break even, whereas bullion could drop 50%, and my "loss" would be about the same as if I had purchased a numismatic item.

    So from a strictly P & L, bullion offered less risk, whereas coin collecting was strictly for personal enjoyment.

    Right now, I am selling off my numismatic items that I have decided not to continue that particular vector, and basically buying bullion. A few years ago, it was selling bullion to buy numismatic items. When silver hit $40 to $45, I sold off most all my "common" silver collection and bought PCGS Morgans and Peace Dollars. >>



    Of course dealers are hardly the only venue to sell to!
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    My paper loss on precious metals over the past year or two is substantial. But, I woke up today in good health. That's all that matters. Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>...do "bullion" coin collectors (investorsimage ) who bought in at the near 2K level still enjoy their coins? >>



    Find me a single collector (or investor) who bought gold bullionesque coins at gold prices of $1900+/oz.....and still own them today.

    I'd submit that >90% of them sold them long ago. You're bringing up a >3 yr decline like it happened just last week....lol. Recall the first dip in gold from $1920 to $1530....immediately followed by a rip your face off rally back to $1795. In fact, one of the guys I know who bought gold during the run up past $1650-$1700 bailed out at that final bounce. Note that they didn't sell on the vicious decline to $1530. If you got caught up in the next decline from $1550 to $1321....you had the sharp 2 week rebound to $1488 to get out. If you got caught in that next drop from $1488 to $1180....you had a bounce back to $1388 to think again. Etc., Etc.

    Might as well be asking the collectors who bought bullionesque gold back in early January 1980 at $850/oz if they enjoyed their coins from 1981-2007. Do you think those collectors who paid obscenely high prices for numismatic copper and silver coins in 1980 and then again in 1989 still enjoy their coins today? Common date stuff like gem Morgans, gem commems, gem common date buffs-mercs-walkers, typical 19th/early 20th century silver-copper-nickel gem type, are still way below those 25 yr old levels. I suspect many collectors who bought some of their coins at the peak in 2007-2008 aren't so happy with them today. So what's the point of the original question if it applies to ALL facets of the numismatic markets as well (ie buying at the peak of a market only to live through the decline).
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CoinspongeCoinsponge Posts: 3,927 ✭✭✭
    I sold some silver eagles near the recent top and felt good about that but then ruined my victory when I bought some ATB 5 ozers.
    Gold and silver are valuable but wisdom is priceless.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    I'd submit that >90% of them sold them long ago

    everyone has a different strategy if they're buying PM's, some work and some don't. it isn't as much the strategy you're using -- though that certainly helps -- the important thing is to have a plan. I know guys that still hold Silver that they bought back in 1999 and earlier.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I'd submit that >90% of them sold them long ago

    everyone has a different strategy if they're buying PM's, some work and some don't. it isn't as much the strategy you're using -- though that certainly helps -- the important thing is to have a plan. I know guys that still hold Silver that they bought back in 1999 and earlier. >>



    That's a reasonable plan since silver was very low back in 1999. You can probably find a bunch of people rather easily who bought silver in 1999-2004 and still hold on today. I take exception to the "stories" that are trotted out from time to time about all those people who bought at $1900 gold/$49 silver and still hold today. You'd have an easier time of finding WW2 era solders still hiding out on Pacific islands. Everyone does have a different strategy. But if you follow the "usual bear reports" you'd think everyone bought at the peak and is waiting for the very bottom to finally sell.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i>Yes I've consigned items because I think the market overall is topped >>




    Anyone planning to help the Big Boys unload their topped out collections in the next few years?

    Im willing to lend some assistance at a few pennies on the dollar perhaps. image
  • WildIdeaWildIdea Posts: 1,872 ✭✭✭✭✭


    << <i>

    << <i>I'd submit that >90% of them sold them long ago

    everyone has a different strategy if they're buying PM's, some work and some don't. it isn't as much the strategy you're using -- though that certainly helps -- the important thing is to have a plan. I know guys that still hold Silver that they bought back in 1999 and earlier. >>



    That's a reasonable plan since silver was very low back in 1999. You can probably find a bunch of people rather easily who bought silver in 1999-2004 and still hold on today. I take exception to the "stories" that are trotted out from time to time about all those people who bought at $1900 gold/$49 silver and still hold today. You'd have an easier time of finding WW2 era solders still hiding out on Pacific islands. Everyone does have a different strategy. But if you follow the "usual bear reports" you'd think everyone bought at the peak and is waiting for the very bottom to finally sell. >>



    Maybe I'm that guy....I've still hold 1900. I still have a piece or two of 400 so I'm averaged out even. I'm content to ride it to the bottom. I guess I'm doing it wrong. I just put some away betting it will be worth something when I retire in 25 years. Don't want to look back and wish I bought some way back when.
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭


    << <i>No worries. That guy on the radio said that gold will hit $5000 this year >>



    The guy on the Internet said it will fall to $700
  • rec78rec78 Posts: 5,675 ✭✭✭✭✭
    I think that most buyers of bullion are not flippers but they hold it for the long term. Most of the buyers will hold for a recovery and are probably buying more now at the lower prices. It may be a good time to buy. The price of bullion has no effect on my enjoyment of my coins, even if some coins in my collection are just bullion coins. But then I do not collect current bullion coins. If I want to buy a gold coin it will be dated before 1933 and silver ones will be dated before 1965.

    Bob
    image
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I think of it this way. I can go out and buy what every one or a lot of collectors did and buy "Gold or Silver" and pay what every one is paying at the time or take a right turn and buy a raw coin for a lot less then some think it's worth, Then have it graded and put the higher graded stuff in my collection that i picked up for a lot less then i could of bought Gold or Silver for at the time. That is one way not to lose $$$ on the down turn in metals or off set it...

    Like this! Let's say you fine a Lincoln cent that you can buy for $100 or you can buy 5 Silver dollars @ $20ea let's just say Silver is at $20 a oz. But you know the Lincoln cent is worth $200 in MS63 now you send it in and bang it comes back MS65 now it's worth $600+ you can keep it in your collection or sell it and buy Silver or Gold with the extra $$$ and it only cost you $100 and now it can buy you 30.oz's of Silver for that same $100 that's around $3.30 a oz. that's one way of turning copper into Gold or Sliver with out paying the top price...But that is just me dumb Type2 thinking out of the box. image


    Hoard the keys.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    I take exception to the "stories" that are trotted out from time to time

    perhaps you should try to be less cynical and myopic, not everyone collects/invests as you do, so it naturally occurs that you are puzzled or excepted by what others do. I have posted elsewhere that I know a number of "stackers" that hold quite a bit that was bought at $35 and there are no doubt still others who hold what they bought at $49. as imperceptible for you as it might be there are many who just buy no matter what the price is and they pick their sell point. the gentlemen I referenced who still hold some that they bought around $5 sold quite a bit when it peaked a few years ago but also still hold quite a bit.

    here's the thing, roadrunner, you tend to think like an investor while the guys I most come in contact with aren't. they see Silver as a hedge against what they see happening in the future and they would rather have something with intrinsic value than a paper dollar, Bank statement, stock portfolio, etc. they also don't tend to collect coins or just do so on a very limited basis. it is just the way they do it, different than you.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    Funny that you mention the "FALL of 40%".
    Considering it is $1200.
    When I bought the shop it was $900.

    As it was going up and up and up, I kept buying it and selling it.
    The more it dropped, the less I had to sell because fewer were buying it.

    What's changed ? Either people's perception, or their emotions… because prices always fluctuate over time.

    If you go LONG on gold…. You go long. I sold all my BRK.B stock. I want it back. It will cost more.
    I burned up all that gas I bought for under $3. Now I have to pay over $3. And it just keeps burning up.


    Gold, in my opinion is either in your collection or it isn't.
    Love it
    Hate it
    We can even debate it
    But those who berate it …
    Could likely be short. And as a collector, I believe
    Some are missing out on the fun.
    image
    image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I take exception to the "stories" that are trotted out from time to time

    perhaps you should try to be less cynical and myopic, not everyone collects/invests as you do, so it naturally occurs that you are puzzled or excepted by what others do. I have posted elsewhere that I know a number of "stackers" that hold quite a bit that was bought at $35 and there are no doubt still others who hold what they bought at $49. as imperceptible for you as it might be there are many who just buy no matter what the price is and they pick their sell point. the gentlemen I referenced who still hold some that they bought around $5 sold quite a bit when it peaked a few years ago but also still hold quite a bit.

    here's the thing, roadrunner, you tend to think like an investor while the guys I most come in contact with aren't. they see Silver as a hedge against what they see happening in the future and they would rather have something with intrinsic value than a paper dollar, Bank statement, stock portfolio, etc. they also don't tend to collect coins or just do so on a very limited basis. it is just the way they do it, different than you. >>



    Keets, you're doing the same thing...applying your beliefs to the majority of participants. Let's face it, silver bullion isn't "rare" coins. Go ahead and trot out some buyers at $49 silver that are still holding today. If they did "perfectly" time their purchase for the 6 hours or so that silver peaked above $49 (April 25th-29th 2011), then they probably changed their mind real quick when it collapsed to the lower $30's the following week. A good friend of mine waited until silver was $39 in August 2011 to jump in (I had first mentioned gold and silver to him in 2004 and he thought I was insane). I suggested he wait for a strong pull back later in 2014 but he went ahead. His reasoning was just as you said....wanted to hold something real and going up in value other than dollars depreciating in the bank. His wife and kids actually had been suggesting he do something like that for the past year. It wasn't until the parabolic phase hit that he decided to act. He had never bought a coin or bullion ever in his life (age 50 at the time). Things looked good for a couple weeks on the final rise to $49. But then the collapse into the $20's and lower $30's was a bit of a grind. On that final burst to $35 in Sept 2012 (gold made it to $1790) I suggested he sell it all if had doubts that the money might be needed in the near future. He still held. This year he finally pulled the plug on his silver and gold holdings to help cover college expenses. His experiences are probably widely shared by others. There is no doubt in my mind he will never buy gold and silver and again.

    It's one thing to buy at $5 and be able to hold on with hardly a worry. But to buy at $39/oz and hold on is very different. My friend was quite different from me and probably very much like the general public. So, how is silver going from $39 to $15 a hedge against what has happened from 2011-2014? And you know what, a large % of those guys that have still held on from the top after buying in the $30's and $40's, will be the first to sell when they get back to break even. Very few will be left. This is just investor psych 101 which applies to 90% of silver investors. It doesn't matter the reason they buy it, they are still investors/speculators. I bought silver in the $4-$12 range for some of the reasons you mentioned above. Haven't sold an ounce of those early purchases. And those investors that bought silver at $49/oz and still hold? Those are basically "stories" or fairy tales applying to a minute fraction of all silver buyers. A true "silver bullion collector" is a rare beast. Very few shell out $15 or $39/oz not caring what the price of silver might do in the coming months or years. If you even consult a silver chart during the year, you're not a silver collector.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    applying your beliefs to the majority of participants.

    not at all, just stating what I have experienced and what others have told me. my main point is that the people I am referring to aren't "jumping in" at any high or low point, they have been buying in some instance since the 1980's.
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    I've been buying gold since $60 in the 70's.

    Added smoe silver after opening the shop just from getting contaminated by the hyperbole of the silver fetishists and succumbing to it.
    I sold a lot of silver at 37-39 and have been letting it go gradually which is about all that I ....can.... do at this point.

    I have NO faith in silver and even less in those who think it will EVER be a "count on it" speculation.

    Silver has and will cut the hearts out of its faithful.

    I don't have ANY worries over holding gold. Let it fluctuate. It's still MY vote against the rot in the US govt.

    Thass my story an I'm stickin to it.

    GOLD IS GOOD

    Until I see central banks buy silver, I will continue to look upon it as a fool's errand. (even though I got fooled, too)



    image
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    Gold and Silver are both funny to me so that's why I don't have any of either as bullion. relatively speaking Gold doesn't seem to have very many uses but there isn't really a lot of it. Silver seems to have more uses as time passes but there's a lot of it.

    Until I see central banks buy silver
    why buy Silver(or Gold for that matter) when they can trade paper?? just another reason why I don't own any of either.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    I've had more guys coming to the shop for silver than gold and they want it in the shape of a circle or rectangle. It doesn't even have to say U.S. on it. Despite "stories" trotted. These are the facts. Very few come in asking for "gold".
  • jmski52jmski52 Posts: 22,301 ✭✭✭✭✭
    I know guys that still hold Silver that they bought back in 1999 and earlier.

    Count me as one of them. I started buying silver again in 1998, then in 1999, then in 2003, then in 2006, and again in 2008. Prior to that, I hadn't accumulated any silver since 1977-1980. That's 17 years without holding onto anything. Now, since 1998 I've been accumulating when prices are reasonable for the past 16 years. Does that make me some kind of fool? I'm happy with my decisions.

    I sold a little silver at around $35, in 2011 or so. I could have sold more at $40 or $45, but I didn't need the capital. The time to buy is when it's $16 or lower, not when it's topping out at $49. I'm just sayin'.

    Even now, I haven't made a bulk silver purchase since 2008, but I do have to admit that it's getting interesting again. It's not like the financial system has been fixed. To each his own.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Cougar1978Cougar1978 Posts: 7,541 ✭✭✭✭✭
    One has to hold for the long term a certain Bullion Goal of x Ounces and simply just average out. All of my gold coins are off the market and primarily for investment or until the gold price moves beyond the 2000 range. At shows I set up with both currency and coins and possibly a few world gold issues for retail which were a steal off the Bay. When gold prices dip I take my gold coins off the market and then buy gold coins aggressively and simply put them away like what I have been doing with UGTC. Because I have over 1600 pieces of currency (both US and World), I have no problem filling up the void left in my cases from the gold coins off the market at a show.

    World Currency, especially graded notes has been on fire. So when one market segment slows down, I simply put that material away and go with one where good retail sales can be made. I also jump on super auction deals (a MS70 Mod Commem Dollar at 45% or PCGS Price guide, a 20 Franc Gold MS66 Issue, an Ebay steal at 53% of market value.

    I enjoy owning x ounces of gold and silver plus the coins themselves.
    So Cali Area - Coins & Currency
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    Despite "stories" trotted. These are the facts. Very few come in asking for "gold".

    Joe, as I have learned you're preaching to the choir.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭
    Al, you know the fall comes after the pride, and sometimes before it. Am not one to preach unless I practice it.

    And why Coin Dealers drink ?
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    I agree on the SMALL player demand.

    I, too, had WAY more silver customers than gold.
    The difference was palpable.
    The gold players were more disciplined and in general, more sophisticated and tended to be business people and professionals.
    They traded in 10-500 (or more) oz quantities and appreciated that I ...STOCKED..... gold all the time.

    Silver buyers tended to validate the "poor man's gold" image and were working class and tended toward "dreamers" and not always in a bad way. Many made out terrific on buying low. Most of the successful silver people only bought in larger quantities on major dips. They tended to believe gurus, hunches, predictions of barter necessity, and were less sophisticated speculators. Few had any other investments.

    I originally was a gold fan. Still am. But, as previously mentioned I caught some of that silvermania from customers.



    image
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I have a great deal of PM's at bargain prices and stopped buying when the surge began.... I am still in a highly profitable position and intend to stay there... Cheers, RickO
  • I don't understand why you all care.

    We pay stupid money for metal trinkets. We are all nuts. Any self-importance that emanates from one's coins should be equated with art snobbery. We should have fun with what we collect and stop caring how other people have fun. We pay four, five, six figures (and sometimes more!) for items in a thinly capitalized market where the collector base can sometimes be counted on two hands. It is a giant house of cards, but people's obsessive collecting nature props it up.

    A 40% fall in gold might look like it hurts, but it can hurt just as much if a few hands in the dirty copper market decide to stop buying. It's all relative.
  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    'It is a giant house of cards, but people's obsessive collecting nature props it up.'

    Indeed, and a scary thought for many collectors.
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    I don't understand why you all care.

    well, the thread originally started with the topic of Gold Bullion coins that were bought by collectors at the top and morphed into a discussion about Bullion sales and reasons why buyers might be holding, etc. anyone who may have "cared" probably departed back on page one or never entered the discussion.
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭


    << <i>I don't understand why you all care.

    well, the thread originally started with the topic of Gold Bullion coins that were bought by collectors at the top and morphed into a discussion about Bullion sales and reasons why buyers might be holding, etc. anyone who may have "cared" probably departed back on page one or never entered the discussion. >>



    image
  • jmski52jmski52 Posts: 22,301 ✭✭✭✭✭
    The OP question leads me to wonder how many actual collectors there are of the various series of US Classic Gold? Do they count as real collectors if they don't collect classic gold coins that have more than say, a 10% premium over spot?

    The point being - that if the value of their collections is highly dependent on fluctuations in the spot price of gold, how much different is that from collecting Modern Bullion? To the OP's question, collecting is collecting and the enjoyment comes from more than one aspect of collecting.

    The nature of the enjoyment that comes from collecting Canadian blacksmith coppers isn't quite the same as the enjoyment of collecting Proof Gold Buffalos, but both can be admired for their own reasons. The fact that Gold Buffs are more closely tied to spot gold prices is a fleeting consideration in many cases because that relationship may "decouple" for the better dates, just as with classic coins.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file