Whats causing the price of Saints & Libs to keep going UP??

brenda

I know that the price of gold keeps moving up but the price guide , wich seems to match asking prices on e-bay and other dealers for the most part, keeps showing these coins going up about $500 a month lately. I just purchased a 1904 $20 lib PCGS MS63 on e-bay for $2200 and now showing just under $3300. Is there that much consumer demand for these coins ?? Who is exactly buying them causing such a high price increase. I think e-bay has alot to do with this and everybody has a debit card these days, but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins.

LindeDad

I think you answered your own question.



<< <i>but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins. >>

tincup

definitely paper money..... being converted to the real thing.

coinguy1

<< <i>I know that the price of gold keeps moving up but the price guide , wich seems to match asking prices on e-bay and other dealers for the most part, keeps showing these coins going up about $500 a month lately. I just purchased a 1904 $20 lib PCGS MS63 on e-bay for $2200 and now showing just under $3300. Is there that much consumer demand for these coins ?? Who is exactly buying them causing such a high price increase. I think e-bay has alot to do with this and everybody has a debit card these days, but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins. >>

Common date MS63 $20 Liberty's are still selling at well below "just under $3300" - more like the $2400-$2500 range. So they aren't increasing in value as much or as fast as you thought.

Generally, non-bullion gold coins have been strong, however. That has been due to intermittent shortages of supplies, accompanied by strong demand from investors.

291fifth

Fear.

RYK

<< <i>Fear. >>


Greed.

CaptHenway

The Law Of Supply And Demand!

RedHerring

<< <i>Common date MS63 $20 Liberty's are still selling at well below "just under $3300" - more like the $2400-$2500 range. >>



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Generic MS63 $20 Libs in PCGS plastic have been around $2500 this week - yes.

There was a 1904 as above that closed over $3300 yesterday. Nuts....really.....nuts.

oreville

I sold my only 2 non stickered MS-63 $20 Libs to Bowers & Merena/Spectrum for $2522 each on Wednesday. One of them was a pleasant spot free 1900-S $20 OGH (that did not sticker with CAC) that I bought from FJ Vollmer in 1996 for $500. That was the going price back then for MS-63 $20 Libs.

I was asking them to match the Heritage buying price in effect on the same day.

I am keeping my PCGS/CAC MS-63 $20 Libs although I think they are getting closer to being overvalued, particularly the 1904. Any other $20 Lib date is much better.

Keep this in mind;

in 1996, $20 Libs in MS-63 were priced at about 1.8 x the bullion value. Now they are priced at 2.25x the bullion value.

TwoSides2aCoin

Smart money typically chases after smarter money, which is usually safer than the dumb money already lost.

gummibear

It is because sheep tend to follow each other off the same cliff. Baaaaaaa

jsf

Mr. Pricesetter knows that I was shopping for a new double eagle back when the pog was $900+. Now he just seems to like insulting me even further with these insane prices.

Type2

The sky is falling.

7over8

Just think of whats happening to our $$ when you get these prices....

BTW, JUNK, I mean JUNK jewelry pieces pre-1933 US Gold is going for premiums over spot.....heard a major dealer buy sheet at 13% over spot for cleaned, polished, jewelry piece $20's.......

Unbelievable.

roadrunner

Yes, they went up a lot in the past month. I don't know why you paid $2200 for one of these on ebay when you don't know the dymanics behind them going up or down. Are you just chasing a hot market or also taking advantage of cash back? Ebay is not the driving force behind the generic gold market. PCGS price guide may list them at $3300+ but others have noted the actual trading levels. Who is actually buying them? Looks like you were one of them. Why did you buy it? Why didn't you buy them 2 months ago when they were $1925 for PCGS 63 CAC specimens? I'm sure readers would be interested in your motivation to buy a $20 Lib.

One way to compare the price rise in the $20's is that they are finally narrowing the gap to the common MS63 Morgans which trade at about 2.5X their silver melt value. The $20 Libs are now around 2.2X. Collectors have more easily supported the Morgan's 2.5X level for quite some time. But it took investors, speculators, and probably telemarketeers to bring the $20's up. It's far easier to carry around a single MS63 $20 Lib than it is 70 plasticized Morgans. Choice BU Morgans and $20's offer some of smallest ratios to melt out there in pre-1930 classic US coinage. The downside is that at what point in the cycle could that premium disappear entirely if the price of gold and silver multiplies from here? Is anyone going to be paying $5000 for a MS63 $20 Lib at gold $2300/oz? Contrarily, could the premiums expand as a mania for old US gold begins following new and higher taxation rules for bullion gold to deter "profiteering" by so-called gold bugs?

roadrunner

MrOrganic

"higher taxation rules for bullion gold to deter "profiteering" by so-called gold bugs"

I am very surprised they have not done this already!

....maybe there waiting for $1500 gold first

brenda

I purchased my coin simply because I wanted it. I want to hold certified gold coins. and I have alot of paper to play with but nothing seems to make me happy in life. So buying gold coins like this is way to get something nice that has some investment or resale potential and its nice to look at. its like not really loosing the money, just moving it around.

roadrunner

That's a good as reason as any to buy a $20 Lib.

The MS60-62 $10 Indians also offer an interesting play as they are about 1/2 the price of the $20 Libs and Saints but many times rarer. They have been promoted in the past so it would not be unexpected to see that happen again. They have a timeless design that's one of the best of the US gold series. The slabbed MS61's are multiples tougher than the MS62's and 63's and still slightly lower than the MS64's.

roadrunner