Options
Life to the generic gold coin market???
roadrunner
Posts: 28,303 ✭✭✭✭✭
Couldn't help but notice that with gold down $15+ from yesterday, that generic gold prices are up today, and higher than they were at $1420 gold. So things appear to be starting to finally squeeze in this market. I was fully expecting to see generics drop this morning but that was not the case. This is different. This was just about the time last year when they really got revved up. It also seems like the gold miners have resisted this gold price drop from yesterday as well...at least so far today. I like to see generic gold and miners move in unison since they both represent leveraged bets in their particular markets.
The things that caught my eye:
MS63 $2-1/2 Libs up to $975-1000...yet 64's are only $1050-1100. Wonder which one is the better buy? 64's went to $1475 during the March 2008 peak at $1000+ gold.
MS63 $10 Libs in 63 being pushed and now up to $1300+. Note that the 63 Indian is lagging at $1225 but shouldn't be for much longer. The Lib is a scarcer coin but I think many buyers prefer the iconic appearance of the Indian. The 65 Libs are now around $4,000 and that's a jump of several hundred dollars in less than a week. Problem is that they've really never been available in quantity at the lower bid levels. They reached $5400 last year with gold at $1225 and their high of $7500 came in spring 2006. The 65 $10 Indians are lagging the Libs by about $500, a gap that at some point should close up.
MS64 $2-1/2 Indians are being pushed and now at $1350. I think that's close to where they went to during last December's peak. Usually the Lib ends up going for more than the Indian but with promotions anything can happen. The 64 Lib is a significantly scarcer coin in all grades below 65. But people doing smaller 20th century type sets often bypass the Libs in favor of the later Indian coins. This $250 gap betw these 64's will shrink at some point.
MS63 $5 Libs finally close to $1000. While 64's are at $1250
MS65 Saints at $2275+. Saints and $20 Libs moving up slow and steady.
If I had to pick best buys in generics I'd lean towards $10 Indians in 63,64,65, $10 Libs in 64, MS64 $5 Libs, and MS64 $2-1/2 Libs. While $5 Indians in 63/64 are barely off their bottoms and look dirt cheap, I never really like the way these are graded. If you can buy a really nice PQ coin for about the same money as generic then that's a good buy. Most MS65 gold from 1's to 10's still hasn't moved all that much and honestly graded specimens are a decent deal for those that can afford their higher price. MS65 $20 Libs are at about $4000 but the qty of lower end coins in holders is always a problem. A nice and solid 65 will cost $4500 unless you can cherry pick one for generic money. The 65's ran from $3100 to $5200 in the 2009 market and will probably chart a similar course by June.
roadrunner
The things that caught my eye:
MS63 $2-1/2 Libs up to $975-1000...yet 64's are only $1050-1100. Wonder which one is the better buy? 64's went to $1475 during the March 2008 peak at $1000+ gold.
MS63 $10 Libs in 63 being pushed and now up to $1300+. Note that the 63 Indian is lagging at $1225 but shouldn't be for much longer. The Lib is a scarcer coin but I think many buyers prefer the iconic appearance of the Indian. The 65 Libs are now around $4,000 and that's a jump of several hundred dollars in less than a week. Problem is that they've really never been available in quantity at the lower bid levels. They reached $5400 last year with gold at $1225 and their high of $7500 came in spring 2006. The 65 $10 Indians are lagging the Libs by about $500, a gap that at some point should close up.
MS64 $2-1/2 Indians are being pushed and now at $1350. I think that's close to where they went to during last December's peak. Usually the Lib ends up going for more than the Indian but with promotions anything can happen. The 64 Lib is a significantly scarcer coin in all grades below 65. But people doing smaller 20th century type sets often bypass the Libs in favor of the later Indian coins. This $250 gap betw these 64's will shrink at some point.
MS63 $5 Libs finally close to $1000. While 64's are at $1250
MS65 Saints at $2275+. Saints and $20 Libs moving up slow and steady.
If I had to pick best buys in generics I'd lean towards $10 Indians in 63,64,65, $10 Libs in 64, MS64 $5 Libs, and MS64 $2-1/2 Libs. While $5 Indians in 63/64 are barely off their bottoms and look dirt cheap, I never really like the way these are graded. If you can buy a really nice PQ coin for about the same money as generic then that's a good buy. Most MS65 gold from 1's to 10's still hasn't moved all that much and honestly graded specimens are a decent deal for those that can afford their higher price. MS65 $20 Libs are at about $4000 but the qty of lower end coins in holders is always a problem. A nice and solid 65 will cost $4500 unless you can cherry pick one for generic money. The 65's ran from $3100 to $5200 in the 2009 market and will probably chart a similar course by June.
roadrunner
0
Comments
Where are you getting your quotes from? This is a market I'm not in the loop on. TIA.................MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
roadrunner
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
roadrunner
Camelot
Recognizing that premiums were at a "high" about a year ago, that's still a huge collapse considering the run-up in gold during the time. Perhaps a good buying opportunity for someone who wants to get into gold.
roadrunner
I just picked up a nice 63 Saint... prices seem cheap, given where gold has gone.