Whats causing the price of Saints & Libs to keep going UP??
brenda
Posts: 64
I know that the price of gold keeps moving up but the price guide , wich seems to match asking prices on e-bay and other dealers for the most part, keeps showing these coins going up about $500 a month lately. I just purchased a 1904 $20 lib PCGS MS63 on e-bay for $2200 and now showing just under $3300. Is there that much consumer demand for these coins ?? Who is exactly buying them causing such a high price increase. I think e-bay has alot to do with this and everybody has a debit card these days, but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins.
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<< <i>but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins. >>
<< <i>I know that the price of gold keeps moving up but the price guide , wich seems to match asking prices on e-bay and other dealers for the most part, keeps showing these coins going up about $500 a month lately. I just purchased a 1904 $20 lib PCGS MS63 on e-bay for $2200 and now showing just under $3300. Is there that much consumer demand for these coins ?? Who is exactly buying them causing such a high price increase. I think e-bay has alot to do with this and everybody has a debit card these days, but for a recession there sure is still alot of paper out there, alot of disposable income to play with. Notice there is virtually NO activity in silver coins in the price guide, just the gold coins. >>
Common date MS63 $20 Liberty's are still selling at well below "just under $3300" - more like the $2400-$2500 range. So they aren't increasing in value as much or as fast as you thought.
Generally, non-bullion gold coins have been strong, however. That has been due to intermittent shortages of supplies, accompanied by strong demand from investors.
<< <i>Fear. >>
Greed.
<< <i>Common date MS63 $20 Liberty's are still selling at well below "just under $3300" - more like the $2400-$2500 range. >>
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Generic MS63 $20 Libs in PCGS plastic have been around $2500 this week - yes.
There was a 1904 as above that closed over $3300 yesterday. Nuts....really.....nuts.
I was asking them to match the Heritage buying price in effect on the same day.
I am keeping my PCGS/CAC MS-63 $20 Libs although I think they are getting closer to being overvalued, particularly the 1904. Any other $20 Lib date is much better.
Keep this in mind;
in 1996, $20 Libs in MS-63 were priced at about 1.8 x the bullion value. Now they are priced at 2.25x the bullion value.
``https://ebay.us/m/KxolR5
my car art & My Ebay stuff
Hoard the keys.
BTW, JUNK, I mean JUNK jewelry pieces pre-1933 US Gold is going for premiums over spot.....heard a major dealer buy sheet at 13% over spot for cleaned, polished, jewelry piece $20's.......
Unbelievable.
One way to compare the price rise in the $20's is that they are finally narrowing the gap to the common MS63 Morgans which trade at about 2.5X their silver melt value. The $20 Libs are now around 2.2X. Collectors have more easily supported the Morgan's 2.5X level for quite some time. But it took investors, speculators, and probably telemarketeers to bring the $20's up. It's far easier to carry around a single MS63 $20 Lib than it is 70 plasticized Morgans. Choice BU Morgans and $20's offer some of smallest ratios to melt out there in pre-1930 classic US coinage. The downside is that at what point in the cycle could that premium disappear entirely if the price of gold and silver multiplies from here? Is anyone going to be paying $5000 for a MS63 $20 Lib at gold $2300/oz? Contrarily, could the premiums expand as a mania for old US gold begins following new and higher taxation rules for bullion gold to deter "profiteering" by so-called gold bugs?
roadrunner
I am very surprised they have not done this already!
....maybe there waiting for $1500 gold first
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The MS60-62 $10 Indians also offer an interesting play as they are about 1/2 the price of the $20 Libs and Saints but many times rarer. They have been promoted in the past so it would not be unexpected to see that happen again. They have a timeless design that's one of the best of the US gold series. The slabbed MS61's are multiples tougher than the MS62's and 63's and still slightly lower than the MS64's.
roadrunner