Soaring Gold, Silver Prices: Will It Change Your FUN Purchase Goals ?
GoldFinger1969
Posts: 3,380 ✭✭✭✭✭
Was wondering if the rise in gold and silver prices is impacting how you will go about making any purchases (or sales !) at FUN next week. Not only have we seen gold/silver soar in the last few weeks/months....they're both up a ton from months ago when some of us committed to a conference like FUN which required early planning and committment.
In my case, my wishlist included a few Saint purchase options....some silver commemoratives which move with silver (like low-priced Morgans do)...and maybe some U.S. currency bills.
Even though premiums on Saints have collapsed in the years/grades I am looking at, the absolute rise in price (~ $1,500 - $2,000) really puts a few coins out of reach. In addition, whereas at a lower price I might go with a coin that I was on the fence about, with prices up 30% or so, I'm less likely to pull the trigger unless the coin REALLY looks spectacular. I'm not gonna pay through the nose...watch gold (or silver) fall in price....and then be stuck with a coin at a high price that I realize I shouldn't have forced simply because I was at FUN and probably wouldn't have purchased if it was at a local show.
I'm considering these options:
(1) A 2009 UHR Saint...graded....in nice condition. I have a raw OGP but it would be nice to have one in an easy-to-handle holder to show family/friends.
(2) Go down from 66-graded Saints to 65. It will save some $$$ and I don't go down too much in quality though I really wanted to add a 2nd or even a 3rd 66 to my Type Collection.
(3) Consider adding some bills like a higher-graded Gold Certificate (I have a $10 PMG-45)...or a Large Currency Bill ($500 or $1,000, depending on cost).
(4) 1 or 2-ounce silver commemoratives or sub-1 ounce gold commemoratives; cheaper than buying Eagles/Double Eagles. I'd look at Vatican coins...modern sub-1 ounce proofs....and maybe some pre-1933 Half/Quarter Eagles.
Oh, and because my Toy Goldendoodle doesn't get along with my sister's Schnoodle....I'm gonna have to board him. That's another $700 I'm in the hole. 
Oh well, if I have any success stories, it'll make it that much more enjoyable.
Comments
Excellent wishlist and I like how you laid out the text with bold and space. Much better for the ADD’ers…
I really appreciate my 2009 UHR‘s and I hope you can find one that you like.
I’ve been selling silver in advance of the show, to have more funds available for the coins I want, that aren’t directly affected by bullion prices, like large cents.
I say not directly affected, because I have the feeling the rising tide will be lifting a lot of boats. With the new found “mad money “, I might even splurge on things I don’t need but like, such as early type, a large size note, colonials, etc. And I bet I’m not going to be the only one…..
The rise in precious metals has made it more likely that I’ll pursue a high-end Saint (66+) at the show, given the compression in premiums and the fact that I can fund the purchase by selling gold bullion.
Nothing is as expensive as free money.
I sold some "junk" silver right before Christmas to raise funds...my LCS was fair, but he was hamstrung by his refiner in what he could pay me. I got a good price relative to what others here are getting...but still about 10-12% below the then spot price. With every little $$$ helping, another few hundred bucks would have been nice, but what can you do ?
Good luck with your pursuit, Walker !
Good luck, PC !! We're swimming in different areas of the pool but hopefully we'll both be successful.
Are you looking for a Saint graded 66+....or a Saint that is higher than 66 (66+, 67, 68) ?
The (to me) ridiculously high metal prices definitely price me out of most anything I'll want to get.
To answer the OP’s question, the rise in prices won’t change what I want to do @ FUN, but will help in accomplishing my goals.
Those are:
I have made some silver sales in advance of the show, so the price rise helped me do that! Noteworthy is I have nothing planned in my areas of high interest: FE’s & IHC’s.
“The thrill of the hunt never gets old”
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I'd look for a PCGS 66+ CAC type coin. They get too lofty above the gold price in 67. It's not a priority acquisition, though, as I am fond of the 64+ CAC that I have now, despite it being rendered into bullion:
Nothing is as expensive as free money.
It has not changed my goals at FUN.
No.
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
Not going to FUN so zero impact.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
No, not really. The rare coins I like don't have much bullion value, relatively speaking, and rare plastic is what it is.
What about other year-end or early-2026 shows?
Not really set in concrete, depends on the deal …will have FUN.
I have no plans for any shows other than a few trips to the local monthly show. I have seldom traveled to shows, only the Long Beach show and I have no plans for that show either. The only reason I might consider a trip to LB (longshot) is if I decide to consign some coins to GC and wish to avoid shipping the coins.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Why don’t you just drop off your coins in Irvine at GC’s office? Irvine and the Long Beach convention center are 30 minutes apart.
I don't live in CA thankfully, it's an 18hr round trip and $150 (or more) in fuel. If I'm going to invest that much time and $'s I might as well enjoy the show too.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Sorry. I thought you lived in California.
But what if today's prices -- even if they peel off a bit -- are the New Normal on the way to a 50% rise in a few years and a doubling by 2030 or a few years later ?
So, you want him to take out a second mortgage, just in case?
And what if today's prices are a high that isn't an again until 2040?
They call this gambling, not collecting.
All comments reflect the opinion of the author, even when irrefutably accurate.
Not at all. And I realize we all have different levels of comfort and affordability.
I was asking because many people I run into are convinced that today's gold/silver prices are going to be prices we don't see again for years -- like a decade or so -- and that they'll be significantly lower in months let alone in a year or two or three. And they've told me they will pounce then.
My point to them was they didn't buy when the prices were that low a few years ago...are you sure you will buy if we get this correction you hope/expect is coming ?
That was my point. What do you do if no sizeable correction comes and this turns out to be pretty much the best buying opportunity going forward (I tend to think there WILL be a correction, but I could be wrong, too
). ?
No way to know. When Covid hit and the runup happened then I thought it was a high water mark. I personally feel that the politics of things and the way the country has managed inflation has been the primary reason for the current situation.
Historically, often when people feel confident in their economy the price of precious metals go down as people place their bets on other things. So my investments have been going into other areas and not coins. Coins have been more discretionary for me. I wouldn’t want to have it as a primary investment.
Also the tax structure for hobbyists penalizes precious metals and hobbies ostensibly to discourage those investments and encourage stocks and bonds in their place. And, honestly, those perform better over the long run.
It’s unfortunate because I would love to have some ancient gold as well as the Mexican 50 pesos and some more Saints, etc. but then so would many other people
Silver closed at 81.00 today
FWIW, I bought 4 coins at FUN 2020 and 2 coins at FUN 2026.
So it definitely impacted me.