Stock Market Investors Acquiring Gold Coins
Cougar1978
Posts: 8,838 ✭✭✭✭✭
Encountering this at shows and with contacts investors leery of stock market are buying gold coins close to melt. These could be US Classic, Mods, or World. These people have little or no interest in numismatic material.
For sometime there has been a consensus equity markets bid up.
While I am a buyer of the material mentioned above (gold coins close to melt) I view it more as a liquid investment / hedge vs a profitable product line like say Classic Commems which have been doing well for me both at shows and online.
A dealer set up next to me recently at a show sold around 35 1 oz AGB many slabbed NGC MS69 others raw close to melt. I bought a few slabbed MS 69 or PR 69 Mod $5 Commems from him which were about ) $20-$25 over BV.
In terms of US coins there are many directions buyers can go especially influx of material from Europe.
Comments
If that is the case then caution regarding the gold market is called for. These new gold coin buyers are just speculators who will dump their gold when the stock market seems ready to rise again. Make sure you aren't the one still holding the gold when the dumping begins.