I rescued another $3,500 from certain destruction yesterday.
jmski52
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Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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helluva premium there
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
Yogi Berra
<< <i>What am I missing, these go for 1600.00 at APMEX
These are the burnished, uncirculated, ones......aren't the ones for $1600 at Apmex just the regular uncirculated bullion pieces?
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>I just purchased my first 1 oz ASE and absolutely love it. It's amazing how small $1700 is.
helluva premium there
ASE or AGE ???
Yogi Berra
<< <i>
<< <i>I just purchased my first 1 oz ASE and absolutely love it. It's amazing how small $1700 is.
helluva premium there
ASE or AGE ??? >>
Hopefully, it wasn't an ASE. If it was, he really overpaid.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Gee, the US mint must be laughing, they take $1500 of gold, press it, put it in 2 bucks of packaging and print a 5 cent certificate then sell it to us suckers for $1700. >>
Do you think the planchets that are purchased by the mint are supplied at no cost from the supplier? And then the mint has an elaborate process of striking said planchets that
is hardly a zero cost operation. These W gold coins are burnished as well. Seems there has been an on-going shortage of available planchets for the past few years, wonder
if that has anything to do with the final price? But sure, one can always set up their own scrap jewelry buying business and buy it for well under spot. J6P routinely buys
stuff at 2X to 10X mark up from the nation's retailers and thinks nothing of it (ie jewelers and clothiers for example). But buying bullion collectibles from the mint at a 12%
markup is somehow laughable. The laughable part is trying to see what you can get for your other retailed items once you walk out the door. Where are all those suckers
who bought 2009 UHRs from the mint at issue price?
Does the US Mint even make anything but a modest profit above their actual cost on their gold and silver coin operations?
roadrunner
<< <i>
<< <i>Gee, the US mint must be laughing, they take $1500 of gold, press it, put it in 2 bucks of packaging and print a 5 cent certificate then sell it to us suckers for $1700. >>
Do you think the planchets that are purchased by the mint are supplied at no cost from the supplier? And then the mint has an elaborate process of striking said planchets that
is hardly a zero cost operation. These W gold coins are burnished as well. Seems there has been an on-going shortage of available planchets for the past few years, wonder
if that has anything to do with the final price? But sure, one can always set up their own scrap jewelry buying business and buy it for well under spot. J6P routinely buys
stuff at 2X to 10X mark up from the nation's retailers and thinks nothing of it (ie jewelers and clothiers for example). But buying bullion collectibles from the mint at a 12%
markup is somehow laughable. The laughable part is trying to see what you can get for your other retailed items once you walk out the door. Where are all those suckers
who bought 2009 UHRs from the mint at issue price?
Does the US Mint even make anything but a modest profit above their actual cost on their gold and silver coin operations?
roadrunner >>
I agree wholeheartedly, the proof pucks being the exception.
beep beep
Considering that 95%+ of the stuff you buy on a day to day basis is intrinsically worth 10%-30% of what you paid for it, a gold coin thats worth 88% of what you paid for it is clearly a winning move.
That large coke that you'll be buying at BurgerKing later today for $1.89 has about 15 cents worth of syrup, 3 cents worth of ice, and comes in a 12 cent cup. Thats 30 cents to produce, yet millions of people each day will spend 6 times that amount on it. Dont even get me started on the biggest scam of all....bottled water!
<< <i>RR is again....like always.....spot on.
Considering that 95%+ of the stuff you buy on a day to day basis is intrinsically worth 10%-30% of what you paid for it, a gold coin thats worth 88% of what you paid for it is clearly a winning move.
That large coke that you'll be buying at BurgerKing later today for $1.89 has about 15 cents worth of syrup, 3 cents worth of ice, and comes in a 12 cent cup. Thats 30 cents to produce, yet millions of people each day will spend 6 times that amount on it. Dont even get me started on the biggest scam of all....bottled water! >>
Gecko109, the true irony of that BK drink (not to mention the meal that usually comes along side it) is that it is literally taking years off our lives it it becomes a long time habit.
We are paying 6X what that high fructose corn syrup drink cost for the honor of seeing it ravage our bodies if we continue to stay addicted. Gold is probably addictive too from
a psychological standpoint but. So maybe that takes years off of our lives as well.
I recall a memory from when I inherited some pearl ear rings back in 1984. They were appraised for $1,000. When I took it to the local jeweler I was told I could get $100 for them.
At that point in time I ceased being a buyer of typically offered jewelry store items figuring it was all a con. At least in US coins you were offered no less than 50-80% for decent
merchandise.
roadrunner
Yeah, I was suckered in '06 and '08, too. I put just about everything I could into Plats, Burnished AGEs, Gold Buffs and a bunch of regular bullion during those years - and doggone it - they only tripled and quadrupled.
I've found that the best investments in Modern Bullion are found when it really hurts to make the decision to order, and when it really seems outlandish to even think about it. $1,500 gold does seem high, and so does $1,728/ea - almost outlandishly so. This year may see some good counter-intuitive investment coins from our good old Mint. We shall see.
On a very serious note, exactly nothing has changed in the scheme of things, i.e., financial matters - since '06 and '08 - except that it's quite a bit worse now and getting even more so. I'd have bought more if I'd had the cash.
I knew it would happen.
<< <i>
<< <i>Gee, the US mint must be laughing, they take $1500 of gold, press it, put it in 2 bucks of packaging and print a 5 cent certificate then sell it to us suckers for $1700. >>
Do you think the planchets that are purchased by the mint are supplied at no cost from the supplier? And then the mint has an elaborate process of striking said planchets that
is hardly a zero cost operation. These W gold coins are burnished as well. Seems there has been an on-going shortage of available planchets for the past few years, wonder
if that has anything to do with the final price? But sure, one can always set up their own scrap jewelry buying business and buy it for well under spot. J6P routinely buys
stuff at 2X to 10X mark up from the nation's retailers and thinks nothing of it (ie jewelers and clothiers for example). But buying bullion collectibles from the mint at a 12%
markup is somehow laughable. The laughable part is trying to see what you can get for your other retailed items once you walk out the door. Where are all those suckers
who bought 2009 UHRs from the mint at issue price?
Does the US Mint even make anything but a modest profit above their actual cost on their gold and silver coin operations?
roadrunner >>
thats alotta bs, the mint should be like every other govt entity and lose money hand over fist,
allowing us to buy all product at spot no matter what on a continuous real time spot rate basis,
them making $$$ or profit is unamerican.....................
<< <i>
<< <i>Gee, the US mint must be laughing, they take $1500 of gold, press it, put it in 2 bucks of packaging and print a 5 cent certificate then sell it to us suckers for $1700. >>
Do you think the planchets that are purchased by the mint are supplied at no cost from the supplier? And then the mint has an elaborate process of striking said planchets that
is hardly a zero cost operation. These W gold coins are burnished as well. Seems there has been an on-going shortage of available planchets for the past few years, wonder
if that has anything to do with the final price? But sure, one can always set up their own scrap jewelry buying business and buy it for well under spot. J6P routinely buys
stuff at 2X to 10X mark up from the nation's retailers and thinks nothing of it (ie jewelers and clothiers for example). But buying bullion collectibles from the mint at a 12%
markup is somehow laughable. The laughable part is trying to see what you can get for your other retailed items once you walk out the door. Where are all those suckers
who bought 2009 UHRs from the mint at issue price?
I all comes down to are you looking for just straight bullion at the lowest price to flip or invest. Or are you looking to get more collectible coins that may hold value over and above the basic metal value UHR , 2010 ATB's, 2008 with 2007 reverse ase, proofs ect are all good examples of this. Many of us are collectors first and metal price is an extra bonus. Collect what you like for what reason make sense for you. Don't knock others. Why pay $1000 for 1892 morgan cc with 1 oz 90% silver with metal value of $29, because i like cc morgans and the are rare!
Fred, Las Vegas, NV
I'm jealous.
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High Fructose corn syrup is evil. Once its in your body you never get rid of it.
Sales are only in the low 1k. This coin might have hope if they pull it from lack of interest and its short struck. I'll be watching as I am sure everyone else is. Be interesting if it becomes the key of the entire series. But then, there is also next year's.
Box of 20
I guess what I'm trying to get at is that if you are investing in modern bullion, you should be paying close to spot price, there is plenty of choice out there so no rarity, and I can't understand why people would value ASE's or AGE's more than an equivalent product with same metal content and purity, they are all just silver or gold.
I guess my concern has come out of looking at the 80's/90's stamp market where post offices issued so many 'collectables' that people suckered up that are now only worth face value today because there was really no long term collector interest. The post office must have been laughing all the way to the bank at how much they made from the collectors. And it seems that government mints have a monopoly of making new 'collectables' that people buy on the expectation of a strong collector market in the future.
I have also observed here (in Australia) that I bought ounces of gold from the biggest bullion dealer in my city at spot+2.5%. These included Krugerrands, Australian Gold Nuggets and Perth Mint 1oz bars. When I looked to selling, I see many of these items going for $300 over spot on ebay, yet these are only worth their gold value. (Yes, I know, business opportunity here, however I'm a 5 hour drive from said store).
My big question, why pay too much over spot for something that can be had for spot price, especially when it is modern and therefore has no antique value? At least when I buy coins from 100 years ago I know that no more will ever be made.
<< <i>My big question, why pay too much over spot for something that can be had for spot price, especially when it is modern and therefore has no antique value? >>
Obsence profits. The 2008-W $10 burnished AGE sold for around $300 from the US mint is now selling for $1,300+.
That is a question similar to the question I asked myself when I was 12 years old, just before I became a coin collector. I found out that some people paid more than a penny for certain pennies. I thought, "Geez that's dumb. All I have to do is find the valuable ones and I'll get rich."
When we were visiting my grandparents once, they showed me a roll of Indian Cents and told me that "you don't find them in change anymore", I asked "Why?" I was told that people saved them and didn't spend them. I asked, "Why?" I was told that "they don't make them anymore, so people save them." It was kind of a circular argument, so I don't think I was very satisfied with the explanation.
That's as far as the conversation went, but my grandfather took out a little square box one day with some coins in cellophane. He told us that it was a Proof Set and that the Mint sold them for $2.10 because they were specially-made. The face value for the coins was $0.91. A few years later, I was looking in the Redbook to see the mintages of Proof Sets, and I kept fantasizing that I was alive in 1936 and had bought a 1936 Proof Set because it was the rarest. Of course, 1936 was before my time and it was only a fantasy.
So, when you tell me that a freshly-minted 2011-W bullion coin has no antique value, I would respond by saying that you need more foresight, (and maybe a little bit of luck).
I knew it would happen.
More like a 2k coin now especially in MS70. They key to the entire series. Unless they bring the fractional Ws back it probably will remain so.
Box of 20
<< <i>Gee, the US mint must be laughing, they take $1500 of gold, press it, put it in 2 bucks of packaging and print a 5 cent certificate then sell it to us suckers for $1700. >>
Don't forget the "W", that's at least another $100.
edt4sp
That is true, Comrade. For general public, is $1,600!!!Apmex 1 oz. 2011 AGE
For coin collector - is special deel!!! They show extra love for coin collector!!! Only $128 extra for "W" decal and for special surface damage!!! What could be better, I ask you??
I knew it would happen.