Will a major drop in gold take the steam outa FUN?

agentjim007 · December 29, 2004 1:52AM

?

cladking · December 29, 2004 2:39AM

No.

It might take a little steam out of a few gold dealers but few collectors or dealers are very dependent
on precious metals prices now days.

eagle7 · December 29, 2004 3:15AM

I hate to disappoint you but there is not going to be a major drop in the price of gold. This little dip, which is already recovering somewhat, is caused by a flight to the dollar after the tsunami episode. That will erode in a major way next month. By the end of next month, gold and silver should be back on track. JMHO.

pharmer · December 29, 2004 3:24AM

No, unless the numismatists are speculators instead of coin enthusiasts.

mrearlygold · December 29, 2004 3:33AM

Nope

Tom

agentjim007 · December 29, 2004 3:54AM

hate to disappoint you

Hate to disappoint you but I don't care which way gold goes, I'm covered either way.

BigE · December 29, 2004 3:58AM

Of course it will have some effect, I don't think it will take the "steam" out of FUN by itself, just maybe a couple of "chugs"

---------------------------BigE

michael · December 29, 2004 4:10AM

maybe but most probably.................... NNNNNNNNNNNNNNNNNNNNNNNOTTT

unless you are shorted on gold or is that long on gold bullion??

michael

michael · December 29, 2004 4:18AM

yea your covered all right

when you insulted board members in anger and fear when they told you the honest facts about your ss central america coin during the summer of 2003 ...............................things you asked about!!!!

no good deed goes unpunished LOL

unfortunately things you did not want to hear

then all of sudden you got out of the coin two months later LOL actions speak louder than words LOL

michael

agentjim007 · December 29, 2004 4:27AM

Jeeze Michael. Hold a grudge? SSCA seemed to hold up pretty well. You should cut the prozac in half next time. Happy Holidays to you too!

edited for spelling (and that doesn't mean everything is spelled right now)

roadrunner · December 29, 2004 10:56AM

The FUN auctions will be unaffected by the gold price. The Hugon Barbers will bring the same money regardless. So will most other neat coins.

Another reason for the drop in gold today is end of year inventory trimming to lock in profits so you can show your fund holders how "well" you did for the year....even if that means selling them out to a degree. It's likely that the ETF gold fund as well as gold fund managers and others, sold off to lock in profits. In January they will be buying again to start a new 2005 uptrend.

roadrunner

MrEureka · December 29, 2004 11:15AM

Of course a "major drop in gold" would take SOME of "the steam outa FUN". As for Hugon Barbers and other rarities, I guaranty that $380 gold would have a real impact. Don't fool yourself.

roadrunner · December 29, 2004 11:31AM

$380 gold impacting the Hugon Barbers? I don't agree. If a coin I needed showed up at FUN the gold market would have no bearing on me acquiring the coin or what I would pay. The billionaires and millionaires have one shot to get these coins. If they let a little hiccup in the long term gold charts influence them, then they have much to learn. In any case, a $50 drop in gold by FUN seems a little out of reach imo. With FUN almost 2 weeks into the New Year, I suspect gold will get a boost prior to the show.
What's changed (i.e. improved) in the world economy the last few weeks to change the influences on the PM's? Nothing imo? This is just due to currency and metal traders doing their usual play at the expense of others. Long term trends are still unchanged.

Of course the impact of a gold drop would affect cash flow of many dealers...esp those like NGE and others. But it would have no effect on non-dealers/collectors looking for rarely-seen coins out of the auctions.

roadrunner

MrEureka · December 29, 2004 12:46PM

If a coin I needed showed up at FUN the gold market would have no bearing on me acquiring the coin or what I would pay.

What about the 95% of the coins that nobody needs?

roadrunner · December 29, 2004 1:28PM

We were talking about the Hugon Barbers. And pretty much 100% of those are "needed" and will bring about the same regardless of gold. I doubt the Gold Rush coins will be much affected if gold goes down. The other 95% rif raff would have to fend for itself

roadrunner

Bear · December 29, 2004 1:46PM

FUN will not be as good as hyped and wished for ,

nor will it be as bad as feared.

jdimmick · December 29, 2004 1:56PM

I think a substantial drop in the price of gold would have an effect on the attitudes of general buying at the show, but I have to agree with roadrunner that it would have no effect on the super auction coins like the Hugon Barbers, the Kennywood seated coins, Ram's Large cents, and many others in the sale.

Conder101 · December 29, 2004 10:25PM

<< <i>Of course the impact of a gold drop would affect cash flow of many dealers...esp those like NGE and others. But it would have no effect on non-dealers/collectors looking for rarely-seen coins out of the auctions. >>

But if the dealers are having a major cash flow crunch they won't be bidding as heavily resulting in lower prices realized than if they were flush with cash. Good deal for the collector because he gets the coin cheaper.

mrearlygold · December 30, 2004 1:15AM

<< <i>FUN will not be as good as hyped and wished for ,

Gee I don't know about that. Have you tried bidding yet? I'm looking at some of the bids already in place and it looks like some high prices for what I deal in. To the point where I don't know if I'm going to win enough to supply even a percent of my want list.

And of course it hasn't even started yet.

Tom

fountainheadgold · December 31, 2004 3:58PM

no

morgannut2 · December 31, 2004 6:21PM

No not the gold price. But, the large number of rare coins showing up all of a sudden-- Plus the massive numbers of regular

"Stuff" at all the auctions will suck the retail/dealer wholesale dollars off the bourse floor in a giant woosh. I bet a lot of

suprised looks at the lower number of retail/wholesale sales verses dealer expectations! Saw it happen at the last Baltimore Show,

just a smaller scale.

roadrunner · December 31, 2004 9:25PM

After Platinum night with Heritage the show could be effectively over as far as cash flow goes. And Heritage still has 2 catalogs of lots to
sell following this. But I think what Bear said makes the most sense.
The show will be ok...but probably not great and certainly not bad.
Those dealers who deal in Hugon, Gold Rush, and Platinum type items will probably report better shows.

I have to add that the HGA catalogs (Heritage) were so heavy when shipped, that when my wife was asked to sign for them, she sort of freaked out. She called me at work to describe this mysterious 15 lb. bulky package from Dallas labeled "HGA." I ended up calling Heritage to verify if the package was from them. Let's just say it was so humongous that the 2nd half of the FUN sale couldn't even fit in the box with the other catalogs. Amazing.

With gold having chopped pretty successfully for a few weeks above the $430 mark, and done ok with the end of year sell-off, I think it will be stable or advancing for FUN.

roadrunner

dragon · January 6, 2005 4:20AM

new question.................

will gold hold $400.00 ??

MrEureka · January 7, 2005 4:29AM

Hmmm...

Will a major drop in gold take the steam outa FUN?

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