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PM Drop is good for Modern collectors...maybe

ElKevvoElKevvo Posts: 4,104 ✭✭✭✭✭
in Precious Metals
I noticed at APMEX.com that in their 'Wholesale Lots' of gold they have First Spouse coins at ~ 400 each (based on the price of gold as of this post)...I was shut out of the First Spouse Washington and Adams due to the frenzy of hoarding and flipping and then sort of gave up on it...now the prices have come way down, less than original issue I think and I might consider at least getting one or two. I will never be able to collect the whole series and indeed don't even want to (sorry but IMO some of these are not overly attractive) but could consider picking up the generic (Jefferson etc.) ones.

But....the selling of these close to melt makes me realize that they are, considered more or less bullion...and should be treated as such. The Mint is in for a hard time with their products this year considering the drop in PM's.

K
ANA LM

Comments

  • nycounselnycounsel Posts: 1,229 ✭✭
    The drop is only good for new entrants. Existing modern collectors are watching the bullion value of their collections in freefall.
    Dan
  • TomohawkTomohawk Posts: 667 ✭✭
    ElKevvo,

    I think that hindsight is proving you correct, but man, when these were first out I recall so many were convinced these would be great investment opps. I'm VERY glad I was a flipper and not a keeper...I'd have been murdered.

    So no that I've come out, I have to agree with you, at least for the short term: I'll look at getting the ones I like, or perhaps, like you, the Liberty versions and see what happens. Going forward for the Mint, it's time to rethink their strategy and come up with some better item with more of a National interest...the NASA stuff might be interesting...

    They've done it before (ala the Capital Hill visitor's $5 piece, right?), but can they do it again?
    ASE Addict...but oh so poor!
  • fcfc Posts: 12,793 ✭✭✭


    << <i>The drop is only good for new entrants. Existing modern collectors are watching the bullion value of their collections in freefall. >>



    and i find it entertaining. where is the numismatic value? ooooh, there is none as i explained so
    many times before.

    if you want to pretend they are coins in the numismatic sense.. fine... but watch
    as everyone else calls them bullion and treats them accordingly. over priced bullion
    at that... but not anymore ;-)

    don't hate me for this opinion. it is a fact for most of the stuff out there with very
    few exceptions.
  • ElKevvoElKevvo Posts: 4,104 ✭✭✭✭✭
    The drop is only good for new entrants. Existing modern collectors are watching the bullion value of their collections in freefall.

    True....but if your a collector should you really care about the value of your collection? image For insurance purposes sure...

    Hmmm.....I just keep telling myself over and over...I am a collector not an investor, I am a collector not an investor, I am a collector not an investor. Darn, still doesn't work. I guess the best way is to ignore the PM prices altogether! I have a couple modern items that have sunk considerably in value but I am still going to hang on to them. And next time I get a hankering to by something try to remember that although it is a nice design it is just bullion to an extent...

    K
    ANA LM
  • GemineyeGemineye Posts: 5,374 ✭
    I think all these M/S and PR 70 grade bullions will sink to new Lows.....
    ......Larry........image
  • BBNBBN Posts: 3,761 ✭✭✭
    I wanna see bigger drops. Looking forward to getting more Saint dates in MS63 image

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
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  • DeepCoinDeepCoin Posts: 2,781 ✭✭✭
    It is interesting to watch the discourse regarding the present Mint offerings, i.e. First Spouse, Platinum... etc. The recent post regarding buying MS 63 Saints made me recall that Bust Halves were the first bullion coin, and Morgans where the next and Saint were also just kept in banks mostly when they were produced. I know none of the current offerings even pretend to be used in commerce, but it is fun to remember the reason we have so many Bust halves is they were used by banks mostly, not individuals. Hence the scarcity of Seated Liberty coinage as banks had moved beyond the half dollar for their deposits.
    Retired United States Mint guy, now working on an Everyman Type Set.
  • jmski52jmski52 Posts: 22,795 ✭✭✭✭✭
    The drop is only good for new entrants. Existing modern collectors are watching the bullion value of their collections in freefall.

    Continuing to "average in" as prices have fallen may not be the worst strategy in the world. The lower prices will allow more latitude in maintaining a Plat collection.

    And best of all, it will drive fc nuts when prices recover, which they will. The fundamentals of platinum remain compelling in the long run.

    Note to self - remember to blab all over the place about huge profits from platinum when prices recover.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    If platinum ever went down to $100 an ounce, how many collectors would spend their platinum coins? image

    My Adolph A. Weinman signature :)

  • GemineyeGemineye Posts: 5,374 ✭


    << <i>If platinum ever went down to $100 an ounce, how many collectors would spend their platinum coins? image >>


    They would eat dirt before they relinquish them.....image
    ......Larry........image
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    heck if you were shut out and like the series it's now or never, to get them.

    bullion they will be.

    you collect what you want and enjoy it....
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