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Gold buying opportunity....Flip it or hold it?.........Bought it. Holding it.

DNADaveDNADave Posts: 7,239 ✭✭✭✭✭
edited September 14, 2018 5:07AM in Precious Metals

I can pick up a 1988 proof 4-coin set for 2K and have decided to do it. Would you hold or do a quick flip?

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    DrBusterDrBuster Posts: 5,306 ✭✭✭✭✭

    Flip if you can for the profit for sure. What's the hold up on it????

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    DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    A friend does estate sales for a living. She asks me every now and then about coins and how to price them. I said to start it at 2300 to 2500, and was offered it at 2k. I want see it first next week at the sale but if it looks good, I'm a buyer.

    Also an Olympic set with gold and silver coins, may have try for that as well.

    There's also a 1975 Cook Island weenie dollar in a set. I've always wanted one of those!

    @DrBuster said:
    Flip if you can for the profit for sure. What's the hold up on it????

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    DrBusterDrBuster Posts: 5,306 ✭✭✭✭✭

    Got a buyer lined up at the 23/25??? Absolute no brainer if so to me.

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    derrybderryb Posts: 36,203 ✭✭✭✭✭
    edited September 6, 2018 4:43PM

    definitely a buy, maybe a hold. Might be worth sending in.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    SmudgeSmudge Posts: 9,250 ✭✭✭✭✭

    Spot is over $2200 right now. Grab now, decide at your leisure.

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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    I'll go against the consensus and say pass. I find proof gold ludicrous . Maybe a proof ducat or modern sovereign at melt but nothing in any kind of fuzzy box or display case bleeccch .

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    SmudgeSmudge Posts: 9,250 ✭✭✭✭✭

    Spot $1200x1.85=$2220.

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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    I subtract for anything in velveteeny and again for anything that is a set when its a set of things that are awful even one at a time.

    Its a slippery slope , don't get involved . The only people that buy sets of proof AGE's are weenies , do you really want to mingle with that crowd? They express interest all the time but then they get out their little loupy de loupe and start noticing scratches and haggling and its all downhill from there

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    At $2k, there is definite upside...I would take it and flip it ...Cheers, RickO

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    Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    I'm a collector, so I'd buy it and hold on to it !!! :)

    Timbuk3
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    DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    I did end up with this for 2K.
    I'm treating it as a bullion purchase and will hold. I think gold will be higher before I need the cash.

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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    you know what I think is most annoying about the mint proof offerings? They do this passive aggressive thing to tweak collectors , start out the boxes are all green but suddenly they are purple , then blue and slightly smaller with a cardboard sleeve then back to purple again with orange lettering. :D

    The OCD collectors are trying to line them up on the special shelf and it never works right. After a few years they pick up a tic or a twitch because they can't get them to look right . They turn into the dude that was inspector Clouseau's boss that after a while who goes insane and tries to kill everyone.

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    1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Buy em and hold em :smiley:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

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