The rare gold coin market is really thin right now. What will it take to bring cool coins out of hid

Are rare gold coins on the sidelines because:
a. Lack of demand
b. We are still off the peak of the market in terms of pricing
c. Seasonal
d. Economy
e. Combination of the above
f. Other
I recently bought a host of auction catalogs. It seems to me that recent auctions are not rich at all in terms of rare gold coins.
Thoughts?
earlyAurum
a. Lack of demand
b. We are still off the peak of the market in terms of pricing
c. Seasonal
d. Economy
e. Combination of the above
f. Other
I recently bought a host of auction catalogs. It seems to me that recent auctions are not rich at all in terms of rare gold coins.
Thoughts?
earlyAurum
0
Comments
I hope I’m wrong because I’m holding a fair number of these pieces, but I’m not optimistic about their near term price appreciations.
What are you looking for, generally? as in how early, and how rare?
as far as what it will take to lure the best stuff out? well... how about record bids for the pieces, that would do it!
Liberty: Parent of Science & Industry
Images courtesy of messydesk.
Link
Camelot
Yes. Those Saints are exceptional! It would be nice to see some pre 1834 gold of the same quality come to market in the same quantity but that hasn't happened in a while.
As RYK also points out, scarce high demand branch mint product just hasn't come to market in a while.
I am just trying to understand what is keeping it off the market. I don't think that it is demand because everytime something nice and rare comes to the market it is well bid.
Thanks for the replies,
earlyAurum
SHOULD come up for sale every other year???
One has to think over the last seven years these coins have traded
hands so often they finally ended up with people who actually want
to own them for several years at the least.
My guess is that it will take some event to shake them loose down
the road. Perhaps a major collector of southern gold will consider it
is time to let them go and spur a whole new round of sales. But that
could be seven or more years from today.
The entire rare coin market has been really thin this entire decade if your criteria is for all there, problem-free, pleasing examples.
roadrunner
But why is there so little offered in auctions/web sites? I think most of it is in strong hands, at least the rarer coins from all early series.
We see a few 62 and 63 $5's, but hardly ever a 64 or better. However, proof gold does appear more regularly, and some nice examples will be at Heritage FUN. Along with some really great $20 Saints.
Moreover, much high end rare gold trades privately. Of the 20 or so I own, only two were bought at auction. But none of my dealers have offered me any in 3 years. So it remains tough to separate them from their owners.
<< <i>The good stuff tends to go into hiding in a down market.
What are you looking for, generally? as in how early, and how rare?
as far as what it will take to lure the best stuff out? well... how about record bids for the pieces, that would do it! >>
If you are talking to me, I'm not selling, except perhaps for one piece. As to how early, the stuff I'm holding dates from 1795 to 1829, and the grades range from AU-50 to MS-62. All but two are PCGS AU graded coins. The other two are PCGS MS graded coins.
And yea, you are right. Record prices bring things out of the woodwork.