Opinions: Would you sell common date $20 Saints and Libs right now?

kwmorgan

I am waffling on doing it and would appreciate hearing some opinions on it.

ChrisRx

I definitely wouldn't buy so I guess yes I would be selling.

CarlWohlforth

No. I have some but don't want to sell for less than $1,500. I don't have any cash to buy any but would, somehow, scrape some up if gold went back to the $700s...

SilverEagles92

I held my Saint for 2 years. Paid $775 for it March '07. I've sold every coin since then, except that one. Well, last week the price was enough to justify selling it. Got $1550 for it, and I'm happy.

LotsoLuck

I'm gearing up to sell some. So toss me in the good time to sell pile.

DennisH

Yes I'd sell. There's almost a feeding frenzy going on for generic gold right now.

Coinlearner

....................Think the spread above spot went too high to quickly.

TwoSides2aCoin

If you bought them last week, I'd hold them a while.
But if you bought them sub $900... no more waffling or no pancake for you !

ChrisRx

<< <i>....................Think the spread above spot went too high to quickly. >>



Totally agree. Gold only went up about $100 and MS65 common saints which were selling for around 1500 are now around 2300-2400...

kwmorgan

I bought my 1904 MS-63 right around $1100 or $1200, for example.

OK, I am going to "prune" the collection a bit and unload about 4 or 5 of them. Thx for the opinions!

MrEureka

Can somebody please explain why premiums have gone up so much?

Longacre

I'd sell at these levels, and put the proceeds into good stocks for the long term.

MrEureka

I'd sell at these levels, and put the proceeds into good stocks for the long term.

What is this thing you refer to as "good stock"?

MrEureka

One more question:

What were common double eagles worth in 1980 when gold hit $800? It was, after all, the last time people were scared of sitting on cash.

adamlaneus

Why do folks focus on the common double eagles?

Are there not common eagles, halves and quarters?

I have not really been watching; are these recent premiums really specific to the double eagles?

Perhaps I have been watching; it's been a while since i've seen an eagle, half or quarter that has the price/quality that I'm looking for.

oreville

It appears that $20 premiums have gone up due to the growing PERCEPTION that pre 1933 US gold coins have a greater margin of safety as collectibles, as more immune to potential US government recall and a growing buyer ENCHANTMENT with the antique US gold coins as pre-Great Depression coinage. Most of all, buyers like the old BIG coins as they have loved the big classic looking Morgan silver dollars since the early 1970's....

This trend may continue whether gold prices rise or fall.

kwmorgan

<< <i>Why do folks focus on the common double eagles?

Are there not common eagles, halves and quarters?

I have not really been watching; are these recent premiums really specific to the double eagles?

Perhaps I have been watching; it's been a while since i've seen an eagle, half or quarter that has the price/quality that I'm looking for. >>



I think the others are up as well, but it seems to be more pronounced with double eagles due to their popularity.

As the front of Q David Bowers double eagle book says... "$20 Double Eagles - America's favorite gold coins".

silvergoldnut

sell sell sell

heck in a couple years you can always get more for half the price.

RedTiger

<< <i>Can somebody please explain why premiums have gone up so much? >>



My theory is that telemarketers selling to know-nothings have huge orders to fill. As the stock market moves down, the pitch gets easier and easier. Every major political talk radio show has a gold sponsor. That ad time is extremely expensive because the listener base is in the millions for each show. In another thread someone mentioned one merchant with prices for generic classic slabbed gold at 3x to 5x greysheet pricing, and the sheet prices have exploded as well.

This is a dark underbelly of the coin industry. Many gold coin buyers are terrified by all the financial news. After having lost so much money in stocks and real estate, the know-nothings are losing most of what they have left to these sharks. A good many are elderly people. A small group is putting in their life savings and buying a trip to the cleaners, taking an 80% hit as soon as they walk in the door. The saddest part is that they don't even know they are being taken. Some firms mail out "statements" showing price increases. It is only when they go to sell, or leave it to their heirs will the extent of damage be known.

Unfortunately, not much can be done.

TahoeDale

I'm holding on to all my gold(no generics), and will not get back into the stock market for at least a year.

High yielding bonds, prime Reits, but no "good stocks" They have a bit more to go down. And the rallys will be short lived.

TwoSides2aCoin

Buying is not a bad idea either.

oreville

The credit default swap (CDS) insurance cost to insure over 1 year to maturity US Treasuries has apparently hit record highs. This means that US Treasuries are perceived to be at the greatest risk of international default in over 100 years. This is compounding the low interest rate that are being paid on US Treasuries.

Clients are very nervous buying GE stock when the stock is going for less money per share than a pack of flourescent light bulbs. GM stock per share is going for less than the cost of a GM oil filter and Citibank stock is selling for about a cup of coffee per share. These investors see the gold coins as holding their value over the long term and I believe it is a "flight to quality."

While interest rates are low this trend will continue.

barbershopper

No. I would wait for another pop in gold prices.
I sold a couple of AGEs when gold hit a thousand but did so reluctantly.
If it drops back to the $750 level, I will probably buy some if I can get them at the right price.
I don't think that'll happen though.
JT

BloodMan

Over the past several months, I have sold a few common date low MS Libs and Saints, and purchased a few better dates. I seems that some slightly tougher dates, eg, 1869 in AU, have not kept up with the increased spread for common dates.

I think it is decent time to sell common dates, but I would hold for the long term.

MrEureka

It appears that $20 premiums have gone up due to the growing PERCEPTION that pre 1933 US gold coins have a greater margin of safety as collectibles, as more immune to potential US government recall

Probably true. But where did that "perception" come from? (Answer: The marketers.)


and a growing buyer ENCHANTMENT with the antique US gold coins as pre-Great Depression coinage. Most of all, buyers like the old BIG coins as they have loved the big classic looking Morgan silver dollars since the early 1970's...

BS. Most of the people that buy these coins don't care about them in the least.

In case you haven't figured it out yet, I think that the current premiums are unsustainable. If I wanted to own bullion, I'd sell the generics and buy bullion.

kwmorgan

<< <i>The credit default swap (CDS) insurance cost to insure over 1 year to maturity US Treasuries has apparently hit record highs. This means that US Treasuries are perceived to be at the greatest risk of international default in over 100 years. This is compounding the low interest rate that are being paid on US Treasuries.

Clients are very nervous buying GE stock when the stock is going for less money per share than a pack of flourescent light bulbs. GM stock per share is going for less than the cost of a GM oil filter and Citibank stock is selling for about a cup of coffee per share. These investors see the gold coins as holding their value over the long term and I believe it is a "flight to quality."

While interest rates are low this trend will continue. >>



Let's see what "Quantitative easing" does to US Treasuries. Interesting times we live in, I must say.

lcoopie

inflation is coming, big time,
just my humble opinion

so NO

Goldbully

OMG, I just updated my Saint inventory..........

oreville

<< <i>and a growing buyer ENCHANTMENT with the antique US gold coins as pre-Great Depression coinage. Most of all, buyers like the old BIG coins as they have loved the big classic looking Morgan silver dollars since the early 1970's... >>



This is apparently happening because of the perception that the US government is not likely to recall the old pre Depression gold coins. I have already seen the marketers tout this.

What is happening is the buyers are buying all of this and now want the old physical old. No more paper and very little new new gold as it is very available from the US Mint.

But indeed the marketers in pushing these coins may be creating a self fulfilling marketer's dream.

As a collector, I agree the premiums are getting too high and would not buy at these levels. But I am not yet ready to sell as I fear gold is not yet finished with its rise in price long term.

JCMhouston

It certainly looks like a good time to sell, even the big dealers that wouldn't have touched generics 6 months ago are touting them. No, it's not an artificial bubble that's been marketed really well, generic gold is really worth 50% over melt.

Longacre

I view my investments on a 20 year horizon. The smart play is not in bullion right now (at least if that is your timeframe).

TwoSides2aCoin

I've got a great idea. Post pics and I'll tell you which ones to sell me

kwmorgan

<< <i>I've got a great idea. Post pics and I'll tell you which ones to sell me >>



Sorry, guy. No decent cam setup

The 4 of them will move in a few days. Local show tomorrow.

PerryHall

<< <i>inflation is coming, big time,
just my humble opinion

so NO >>



Agree. In a few years today's prices will look rediculously cheap. Don't forget who's running our government now.

jpkinla

I would be selling the generics and buying gold eagles and or bullion type products....Get the maximum number of ounces......The premiums are out of whack....

tightbudget

Yes. I believe they are overpriced right now.

robkool

I will probably sell one of my PCGS graded generic Saint by weeks end...

ALHENDER22

I would sell at Spot plus Numismatic Juice. Espically if you have ST GAUDENS. A lot of people want gold with the insurance of a coin that
at least has some Numismatic value.


Al

mrearlygold

<< <i>It appears that $20 premiums have gone up due to the growing PERCEPTION that pre 1933 US gold coins have a greater margin of safety as collectibles, as more immune to potential US government recall

Probably true. But where did that "perception" come from? (Answer: The marketers.)


and a growing buyer ENCHANTMENT with the antique US gold coins as pre-Great Depression coinage. Most of all, buyers like the old BIG coins as they have loved the big classic looking Morgan silver dollars since the early 1970's...

BS. Most of the people that buy these coins don't care about them in the least.

In case you haven't figured it out yet, I think that the current premiums are unsustainable. If I wanted to own bullion, I'd sell the generics and buy bullion. >>




Actually there's a lot of people who are doing just the opposite. Selling their bullion and buying common date US gold. I think it's safe to say that if a giant sales organization like Blanchard ( for example ) buys tens of millions of dollars in common date gold , the prices will not be sustainable, they'll go up.


Edited to add ( for example )

segoja

Sell em to me!!!

MrEureka

I think it's safe to say that if a giant sales organization like Blanchard ( for example ) buys tens of millions of dollars in common date gold , the prices will not be sustainable, they'll go up.


Edited to add ( for example )


Agreed. That is, until they slow down or stop.

lunytune2

Im a buyer If I had some money

Julian

Everything I own is for sale every day. It is strictly a matter of price.