Hey...what about the new kings of modern $5 dollar gold commemoratives?
NorthStar
Posts: 59 ✭✭✭
Well...with gold on a tear and the 2024 Flowing hair being released this year, it sure took the wind out of the sales on $5 dollar gold commemoratives! Who cares? Will this set ever be collected by the new generation? Cudos to @HalfDime for bringing this topic up as the mint wraps up their product sales.
0
Comments
Not IMO. It's my belief that there is almost no hobbyist collector demand for most of the $5 gold commemoratives, Mostly wanted by buyers acquiring it as a low premium bullion substitute looking for an increase in both the spot price and premium, except that the premium on new releases isn't low.
You just described most Morgan dollars in the early 1960's. Who knows what will be favored by collectors in the future?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Not even close to relevant. 60 years from now or near it, only a very low minority reading this thread will be around to see it, if it even happens. I'll also take the "under" on this inference.
I intermittently read this sentiment, that collector preferences are subject to seemingly arbitrary random change, yet it virtually never (if ever) happens. Morgan dollars didn't randomly become more popular (actually more preferred), as the series was already widely collected at the time and the key dates were far from cheap. Any review of a 60's Red Book makes this evident.
Yes, Morgan dollars were a lot less expensive including the most common dates, but so were the vast majority of other coins. Morgan dollars predominantly became a lot more expensive due to the same generic factors in US collecting" higher metal prices, TPG, and buying coins as "investments".
If the theme of this coni isn't compelling now, what's going to make it compelling later? How many $5 are there now? I know dozens but would have to look it up. How many can even list most of these without looking it up? I'd guess predominantly only those who own it or dealers who regularly sell it.
I'm aware the same can be said of the classic gold commemoratives (most anyway), but at least the number of coins is far more limited. The gold dollars also peaked years ago and have been "dead money" ever since, with no catalyst that I can see other than another round of speculative buying.
I'd describe most of these commemoratives as already lost in obscurity and the series (actually a random assortment of unrelated coins) is also increasingly expensive due to both the metal price and new releases. There is the benefit of better liquidity, but there are far more interesting coins at similar prices as a collectible.
Also Morgan Dollars had market makers who had enough coins to make a market in it. How many market makers are there in classic commemoratives? I also think the long term policy response should be to not issue gold commemoratives at all. I would have 1 ounce commemorative silver dollars and bronze or copper commemorative large cents instead of commemorative halves and make the commemorative large cents the same size as a clad half dollar since large cents were already nearly the size of half dollars originally. I would even look into the idea of allowing commemorative manganese brass dollars or clad quarters which could be issued for general circulation in order to increase the awareness of the commemorative themes.
the good news is ,,one can pick up high graded commeratives at a nice discount...and there are some interesting designs...2020 mayflower 400th anniversary reverse proof comes to mind ...a stunning coin in your hand..
I used to like the modern gold commemoratives very much . I have all of the double sets that came in wooden boxes except for the huge Atlanta Olympics set; I have the “small” eight piece Proof set. The last chance I had to buy the big Atlanta set, the dealer wanted full retail and then some.
The trouble was, I lost interest because there were too many modern commemoratives, and the price of gold and the mint surcharges pushed the issue prices too high. Now I have an over 100 modern gold pieces which have become my unintended investment in bullion gold. Oddly, I am going to display a couple of those coins in an upcoming exhibit.
Even with the low mintage... at this point, I consider U.S. Mint offerings as over priced bullion.
That being said, the $5 gold commems are an excellent way to invest in bullion gold! In the after market that is... and when the premium is pretty much wiped out.
Not to bump my own thread....
Is it time to sell the bullion related $5 dollar gold and move it into something more numismatic?
Not really able to answer that question. It all depends on your own personal situation, and what your objectives and interests are.
If you are interested in obtaining items that may have future price increases (other than due to increase in silver and gold prices) then perhaps.
If you are interested in stacking silver and gold... then why get rid of the ones you already have... since $5 commems are a nice way to accumulate?
If you are asking whether it is time to sell gold and silver in general... beats me. I tend to think gold and silver still has upwards potential for awhile, though the past week or so has drifted downwards.
With the price of gold as high as it is now ... the melt bucket may not be too far away.
Maybe, but most people would say I have too much numismatic related gold coins already. I have a complete type set, less the $4 gold, which I think of as a pattern, plus a number of date date and mint sets.
They were in the melt bucket 3-4 years ago. I bought 20 or so then.
Lafayette Grading Set
There were a few that had gone designs to them
Lafayette Grading Set