Do you consider collecting gold coins an elite pursuit?
topstuf
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When I first started with coins, GOLD coins were in a "different league." Of course, gem seated material was in the $100-$200 range. GOLD rare coins were waaaaay up there in the $500 + area.
(twenties were $48...for a short while...til the massive move up to the 60 area)
What about now? Just about any classic coin series can easily top the 6 figure price.
Do you still consider gold to be an elite collecting arena?
??????
(twenties were $48...for a short while...til the massive move up to the 60 area)
What about now? Just about any classic coin series can easily top the 6 figure price.
Do you still consider gold to be an elite collecting arena?
??????
0
Comments
-Paul
<< <i>There can be an elite collection in any metal, in my opinion. >>
With modern factional NCLT gold, gold can be collected relatively inexpensively.
Also, today gem seated dollars are way more expensive than common date classic gold.
I also realized during this process that if I would have bumped my standard down three points to AU I could have build a fantastic set for a reasonable price over 5 years.
That said, it should be possible for anyone after enough research to build an elite set of gold coinage.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Hoard the keys.
<< <i>If its a key gold coin then YES. Most collectors cant buy them they are to high in price for me. I dont want to pay 30 to 40k for a coin now that's just me. >>
There are many $30-40k coins that are not gold.
Jay Leno is a very wealthy man, but he's a day's interest to Bill Gates.
Therein lies my answer.
of course cc and rare dates don't apply.
<< <i>Everything is relative, isn't it?
Jay Leno is a very wealthy man, but he's a day's interest to Bill Gates.
Therein lies my answer. >>
does Jay Leno know that Bill Gates is interested in him?
<< <i>
<< <i>Everything is relative, isn't it?
Jay Leno is a very wealthy man, but he's a day's interest to Bill Gates.
Therein lies my answer. >>
does Jay Leno know that Bill Gates is interested in him? >>
I apologize for using a word that has multiple meanings, Danny. I knew it would tittilate some of the more "sensitive" posters here.
Darn! I thought it was. Someone please PM some suggestions for an elitist numismatic pursuit. Do not post them here. The riff-raff might find out about them.
Small eagles in au...just a thought.
sheeze
Although if you asked the question........ Do you consider collecting gold coins with C and D MM's on them an elite pursuit?
I would have to change my answer
Phew! I feel better now.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>If I can collect gold at some level, it is not elitist. >>
Good point.
Now, it seems that Gold coins are the best value in the sense that the gold content still has so much more value relative to the coin's price than does silver coinage which is almost all numismatic premium...such as my Barber halves.
World gold is probably the best bargain of all. While it is not so much in demand as U.S. gold. Many issues can be had with little numismatic premium. This opens a vast collecting area that has so little downside.
Tyler
<< <i>Ironically, many Gold coins can be had, even in higher conditions with small premiums over melt... >>
For me the answer is yes, they are an elite pursuit when compared to silver and copper. The baseline cost of any coin is it's melt value, but with gold the melt value is often hundreds of dollars. Obviously, the same cannot be said for silver or copper. That means that to collect gold coins, I have to be willing to pay multiples of the price for the equivalent weight in silver or copper before I even start considering premiums for rarity, condition, provenance, etc.
They are nice coins if you can afford them though!
<< <i>gold the melt value is often hundreds of dollars. >>
You can start collecting gold with 1/10 oz AGEs at $85 a coin. Some world gold is available in 1/20 oz weights. While still more than silver, it's not necessarily hundreds of dollars per coin.
Coin collections can be initiated from change, such as Lincolns, state quarters, etc.
Gold coins cannot, therefore they are an elite pursuit.
Since many forum members already collect numismatic items that are elite, they may not be considered elite here, but to the general public, even the general numismatic public, gold is still elite.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
<< <i>
<< <i>gold the melt value is often hundreds of dollars. >>
You can start collecting gold with 1/10 oz AGEs at $85 a coin. Some world gold is available in 1/20 oz weights. While still more than silver, it's not necessarily hundreds of dollars per coin. >>
...and I suspect there are many more examples. However, in general I think my point is still valid.
<< <i>Numismatics will always be a luxury. >>
I agree. Just about any hobby practiced by Americans can be considered an elite pursuit in some parts of the world, like in Darfur and other parts of Sub-Saharan Africa. Collecting Pogs probably isn't even available to them.
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bullion like it ever was comparable to a 1908 half eagle.
yes, collecting gold coins is elitist. that is the way i voted.
why?
because they cost so much darn money when compared
to the majority of coins.
who started collecting coins with gold besides a few here?
<< <i> the topic says gold coins. it annoys me when people mention
bullion like it ever was comparable to a 1908 half eagle. >>
Sounds like some collectors may be elitist
Up until now, gold has been gold
I prefer silver, you can get more coins for your money!
–noun
1. practice of or belief in rule by an elite.
2. consciousness of or pride in belonging to a select or favored group.
IMO, elitism is a term bandied about by those who feel excluded from a group, and in this context and most others, it is financial exclusion that we are talking about.
I agree with Julian, who states that anyone who does more than collect coins from change is elitist, at some level. I also firmly believe that elitism in numismatics has more to do with how you collect than what you collect. I can think of no more elitist collector than Stewart Blay, who is best known for his Lincoln cents collection. Another example of numismatic elitism is the EAC. While the membership may not be a financially elite group, they are dedicated and knowledgeable and elite in scholarship. Other specialty societies are similarly elite. Finally, if you met the person who owns one of the best (if not THE best) collections of Liberty double eagles you would be surprised to find that he is not a CEO of a major corporation or a wealthy banker or businessman, but instead an upper middle class professional. Coin collecting is not about how much money you have to spend on coins.
Sure, US gold coins can be expensive and may be, on average, more expensive than nickels. They do not define elitism in numismatics.
I'd say more like effete than elite.
Here is a plan we use in this household. If your little one picks up about ten bottles and cans per day ---every day----that's about $200+ dollars per year to spend on one MS generic $5 lib. It used to take more cans and bottles in CA but with the increase in redemption value---all it takes is 10 per day. I'm not advocating going dumpster diving to being able to collect gold but there's nothing wrong with a little neighborhood beautification and the linking it to the pursuit of the yellow metal. It teaches the advantages of learning how to SAVE.
Gold used to be elite until platinum came along . . .
My Adolph A. Weinman signature
<< <i>Elitism is an attitude.... some wear it like a robe... in others (some with magnificent coins), it is undetectable. Those that display it.. usually are really not worth associating with... the attitudinal affectation is nauseating. Cheers, RickO >>
Just beat me to it !!!!
<< <i>Do you consider collecting gold coins an elite pursuit? >>
Yes, but it's nice work if you can get it.