Home› Precious Metals

US Coin forum has issues with $1,200 gold.

renman95renman95 Posts: 7,037 ✭✭✭✭✭
in Precious Metals

Such as "This belongs on the precious metals forum."

"Yep - take it to the PM forum where it belongs!!!!!!!!!"

And "Have you ever visited the PM forum? I find it a strange place that I visit as little as possible."

But I do like, "It about time my classic coins just keep going up up up...." ttown image

issues

Comments

  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    I understand the desire to keep the forums centered. But $1200 gold is US Coin forum worthy. Frankly, any threads about PMs that involve US coins are fine on the US coin forum as far as I'm concerned.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "But $1200 gold is US Coin forum worthy."

    There's hope yet that I won't have to buried with my classic $5's.
  • KablemodemKablemodem Posts: 466
    I don't understand why people can't comprehend that the value of their gold and silver coins is influenced by the spot price of the metals.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Most didn't get it when gold broke $400-$500 as that was the end of the world as they knew it. Can't expect them to understand $1200. And we sure as hell better get the portable defib unit ready for them when it hits $2000.

    One thing I have noted over the past 1-3 months is the increasing number of BST threads looking to trade out of classic US coins for barbaric gold and silver. That would have been unheard of last year. I'm seeing desireable material like draped bust coinage and key dates being offered up. Times are changing. Without the interest in gold and silver the price of standard US coins would be even lower.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • KablemodemKablemodem Posts: 466
    Actually, I think if the PMs were dead people would be spending that money on coins. But when the economy is in a bad state, why let thousands of dollars sit in slowly appreciating rare coins when there is quicker money to be made elsewhere? They can make their money and then spend it on coins later.
  • jpkinlajpkinla Posts: 822 ✭✭✭
    I have been told by a few "collectors" that I am a sold out rare coin bull so that explains my negative bias to dated coins. I have nothing against dated coins but in this economic environment I believe more people are "collecting" gold and silver rather than dates....

    Who has $100k to spend on a rare Saint Gaudens? Sure, there are a few folks out there but I suspect that person would rather have 80 gold eagles or 50 MS64 1924's......That is what seems to be the statement we are seeing....
    $10 Indian Gold Registry Set

    $20 Saint Gaudens Registry Set
  • jdimmickjdimmick Posts: 9,691 ✭✭✭✭✭
    "One thing I have noted over the past 1-3 months is the increasing number of BST threads looking to trade out of classic US coins for barbaric gold and silver. That would have been unheard of last year. I'm seeing desireable material like draped bust coinage and key dates being offered up. Times are changing. Without the interest in gold and silver the price of standard US coins would be even lower. "

    RR,

    I have been seeing the exact same thing, both on the forum as you have mentioned, as well as locally at shows and even over my counters. People arent even looking at collector coins, its all bullion or bust in the store!!!!!
  • BearBear Posts: 18,953 ✭✭✭
    Why there must be an overlap in the Coin Forum
    and PM Forum topics.

    1. People use both PMs as well as rare coins as
    insurance against the falling value of the USD.

    2. Profits from PMs are often placed in the purchase
    of rare coins.Dealers will be doing it soon.

    3. Many rare coins are made out of Silver and gold. At
    some point in the near future, the increase in PM prices
    will be reflected, not only in generic gold,but in gold coins
    considered highly valuable to start with.

    4. Members of all Forums must resist the urge to feel superior
    to members of other Forums. It is possible that a coin collector
    also has a strong interest in PMs in addition to the collecting of
    rare coins.

    5.A little mutual respect and courtesy among collectors goes
    a long way.
    There once was a place called
    Camelotimage
  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>US Coin forum has issues with $1,200 gold. >>



    If so, "let them eat cake."image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    I'm still not convinced that precious metals investors/collectors are inclined to use their profits from precious metals to buy classic coins. I see that type of comment occasionally, but I don't see it.

    I don't subscribe to the idea that buying pms siphons off a significant revenue stream from classic coins. The two markets certainly exist without each other, and it's only natural that there will be some crossover in either direction. Surely, a rising precious metals market does have some impact on precious metals buying for lots of people.

    I haven't ever sold a Gold or Platinum Eagle in order to purchase a Large Cent (which I do collect). I have sold them in order to buy more Gold and Platinum Eagles, but never to buy a Large Cent. Similarly, I've sold a Large Cent in order to buy a different Large Cent, but never to buy a Gold or Platinum Eagle. I view Large Cents as discretionary spending, whereas I view Gold and Platinum Eagles as investments with a numismatic flavor.

    I might forego buying some Proof Platinum Eagles this year because of the crappy design and the politically correct motivations for that design, and I might decide to buy a snow blower. Does that mean that snow blowers are siphoning money from the Platinum Eagle market? No, it means that two unrelated decisions are being made, even though the money itself could go in either direction.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • lunytune2lunytune2 Posts: 1,077 ✭✭✭
    I always argue the point over there .. I buy numismatic gold and silver .. so mine are more of a US coin than there proofs that were never used in commerce . Gold and silver bullion belong exclusively here , but it is totally agreed the price of gold and silver affect my collection dramatically.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I've noticed a lot of people selling their coins for bullion!

    I might be the exception as I've gone from bullion to coins! Not expensive coins, just cheap coins that me and the kids like. Still have the bullion mentality so thats why I get cheap coins image
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • CaptHenwayCaptHenway Posts: 32,249 ✭✭✭✭✭
    I just posted my comments over there.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I think that ASE's, AGE's, and APE's are a perfect combination of classic, modern, and bullion and I think that bothers the heck out of the "other" forum.

    Another thorn in their side are a few converts from classic to modern/bullion.

    Soon there will be a motion to split up the US Forum into a classic and modern boards.
  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    I think that ASE's, AGE's, and APE's are a perfect combination of classic, modern, and bullion and I think that bothers the heck out of the "other" forum.

    Don't forget the Gold Buffs and Gold Spouse Liberties! Both are Moderns with Classic knockoff designs!

    Hey Ren, those Gold Buffs are still climbing a bit. Quite amazing, really.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I think that ASE's, AGE's, and APE's are a perfect combination of classic, modern, and bullion and I think that bothers the heck out of the "other" forum.

    Don't forget the Gold Buffs and Gold Spouse Liberties! Both are Moderns with Classic knockoff designs!

    Hey Ren, those Gold Buffs are still climbing a bit. Quite amazing, really. >>



    I think I am going to keep mine a while longer.
Sign In or Register to comment.