@WCC said:
You're making my point. PCGS has graded about 1,200,000 Saints. NGC has graded about 1,100,000. That's >slightly more than 25,000 or 50,000, and there isn't any reason to believe there are anywhere near these numbers >of set collectors either. There likely aren't anywhere near 25,000 looking to buy each date in the series
I agree, but the bulk of those graded Saints are in a few of the super-commons like the 1924 and 1908 No Motto. More than half of those graded are in the 1924, 1908 NM, and 1927.
The fact that in a low-enough grade lots of other coins are available -- meaning that numismatic demand has been satiated --
In fact, the 1915-S has just over 16,000 graded by PCGS and I bought a nice MS-63 OGH back at FUN 2020 for basically spot gold (~3% premium adjusting for the lower gold content). If you can buy lots of coins not among the most common.....at bullion plus a nominal premium...and in grades from AU-58 to the low-60's....that's not bad and shows you even if there are tens of thousands of Type or PT collectors...they run the gamut from folks happy with 1 or 2 coins to semi-Registry players and thus there are lots of coins trading for bullion (in 58-63 grades) when there are 5,000 coins and up available to collectors.
And you make my point. How many dealers are going to hold inventory for a 3% profit which could easily be a loss in 24 hours?
All comments reflect the opinion of the author, even when irrefutably accurate.
@jmlanzaf said:
And you make my point. How many dealers are going to hold inventory for a 3% profit which could easily be a loss >in 24 hours?
So because bullion gold has more downside than numismatic gold in a falling gold environment....you're saying a rising gold price will lead to more melting, even if not done on a scale to alter tha pop census rankings.
As an example, at another extreme, when gold was about $300 the premiums on MS-64's and MS-65's were hundreds of dollars higher.
@WCC said:
You're making my point. PCGS has graded about 1,200,000 Saints. NGC has graded about 1,100,000. That's >slightly more than 25,000 or 50,000, and there isn't any reason to believe there are anywhere near these numbers >of set collectors either. There likely aren't anywhere near 25,000 looking to buy each date in the series
I agree, but the bulk of those graded Saints are in a few of the super-commons like the 1924 and 1908 No Motto. More than half of those graded are in the 1924, 1908 NM, and 1927.
The fact that in a low-enough grade lots of other coins are available -- meaning that numismatic demand has been satiated --
In fact, the 1915-S has just over 16,000 graded by PCGS and I bought a nice MS-63 OGH back at FUN 2020 for basically spot gold (~3% premium adjusting for the lower gold content). If you can buy lots of coins not among the most common.....at bullion plus a nominal premium...and in grades from AU-58 to the low-60's....that's not bad and shows you even if there are tens of thousands of Type or PT collectors...they run the gamut from folks happy with 1 or 2 coins to semi-Registry players and thus there are lots of coins trading for bullion (in 58-63 grades) when there are 5,000 coins and up available to collectors.
And you make my point. How many dealers are going to hold inventory for a 3% profit which could easily be a loss in 24 hours?
.
It could also result in an additional 3% gain in 24 hours.
Do you feel lucky (inventory not hedged), or do you want insurance (hedged inventory) ?
Comments
And you make my point. How many dealers are going to hold inventory for a 3% profit which could easily be a loss in 24 hours?
All comments reflect the opinion of the author, even when irrefutably accurate.
So because bullion gold has more downside than numismatic gold in a falling gold environment....you're saying a rising gold price will lead to more melting, even if not done on a scale to alter tha pop census rankings.
As an example, at another extreme, when gold was about $300 the premiums on MS-64's and MS-65's were hundreds of dollars higher.
.
It could also result in an additional 3% gain in 24 hours.
Do you feel lucky (inventory not hedged), or do you want insurance (hedged inventory) ?
.
The spouse gold coins are being melted, and few are shedding any tears over it.