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 Replies: 59 / Views: 5,950 |
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Pillar of the Community
United States
1915 Posts |
You are still missing the point. This thread was about how coin prices would be affected, and somehow you got off on bullion.
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Moderator
 United States
188952 Posts |
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You are still missing the point. This thread was about how coin prices would be affected, and somehow you got off on bullion. I agree. If this continues, I am going to move this thread to the PM forum. |
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Valued Member
United States
84 Posts |
My coin dealer regards proof gold/silver as bullion. He refers to Morgans he buys as "bullion" and Morgans he sells as "coins"
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Moderator
United States
188952 Posts |
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He refers to Morgans he buys as "bullion" and Morgans he sells as "coins" I see what he did there.  |
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Bedrock of the Community
13014 Posts |
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You are still missing the point. This thread was about how coin prices would be affected, and somehow you got off on bullion. I was responding to your comments which you had no problem going off on about. Bullion was the example you used and I went with it. Thats weak though calling off topic because your assumptions were incorrect. Edited by basebal21
07/10/2013 1:48 pm
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New Member
United States
39 Posts |
I get my junk/cull silver for $1.25 over spot as of right now purely because the guy at my lcs likes me. You two should both calm down and buy more silver! (that's a friendly suggestion not a command)
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Pillar of the Community
United States
7194 Posts |
With the now reduced prices in silver I can look forward to adding to my collection uncurculated examples of modern commemorative dollars. And if they stay at this level I'm sure common Morgans will too be at a lesser cost.
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New Member
United States
48 Posts |
Perceived rare/antique/numismatic coins with solid demand from collectors are not subject to electronic bullion price swings.
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Pillar of the Community
 United States
2077 Posts |
Correct. In an attempt to steer the thread in the original direction, allow me to divide silver coins into three groups:
Low supply numismatic- These are coins that because of scarcity and demand, will always have a value over silver content (barring an insanely high jump in silver prices).
Junk silver- These are coins that are common and either in poor condition or with problems, while better examples of the same coin can be had for slightly more cost.
The rest- These are nicer examples of common coins. They are typically sold at a price expected for the type.
It's this third group that is the focus of this thread. Perhaps this group will retain their current value. Say that previously, a certain coin in junk silver was worth $16 and in a nicer grade $18. Now the same junk silver is worth $10. Perhaps $18 for the nicer one is fine.
BTW, I'm still not happy about the 2013 silver mint sets are about to drop $7.
Edited by OldSkoolMadSkilz
07/11/2013 10:55 am
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Pillar of the Community
United States
1915 Posts |
All of that was my point in responding to this topic. I think you can see evidence of the third group already. Most online price guides have dropped later date, common silver quarters to $4.75 or less. Yet a majority of online and brick and mortar dealers hold the price of these coins at $6-$10 each. I think a lot of that is becacuse they have more invested than what the current spot price is, plus many of these are going to be harder to acquire now, unless folks start dumping. I have just not seen enough evidence yet of people dumping. Look at all the threads on this forum of people wanting to buy silver. There are not very many takers willing to sell their wares at current prices.
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Valued Member
United States
84 Posts |
The earliest panic selling I saw was about a year and a half ago. I think the others who didn't sell are waiting for a rebound. I also think some sellers could take their cue from dealers like APMEX Kitco, and even the US mint: slow to lower prices, quicker to raise them.I am seeing a bounce that I can not explain. I know the big brokerage houses have dumped their long positions on things like gold and silver awhile back. Usually when the fed speaks of more accomodation, stocks will rise at the expense of metals. I think I said this before the supply/demand chain is defunct, however, ETF's are banking on a strong demand from India moving into their traditional marriage season. I only emphasize this because silver usually rides on gold's back until industrial demand kicks in, then silver is off to the races. Right now with commodities rising, I don't think there will be many sellers of bullion. I believe coins SHOULD start to show an increase as melt goes up. A disproportionate relation, but one I find interesting. Others have mentioned this relation in historical terms, one I am anxious to see myself. |
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Bedrock of the Community
13014 Posts |
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I am seeing a bounce that I can not explain. I know the big brokerage houses have dumped their long positions on things like gold and silver awhile back. Usually when the fed speaks of more accomodation, stocks will rise at the expense of metals. Bernake gave a speech where he straddled the fence about the feds future plans for the money printing creating an uncertainty that wasnt there which has given a bounce to everything. |
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Pillar of the Community
Canada
3692 Posts |
From the first page: those gold buyers turn over their gold at LEAST once a week (at the end of the week if there's a good bull rush). The smart ones would refine their gold everyday if they can (if their minimum volume levels are met daily). That's the only way they can give anyone a consistent fair price (if you go to one of the shops that actually gives a fair price, that is).
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Valued Member
United States
84 Posts |
I don't want to drift too far from the target, but I would like to talk about melt and silver prices as they pertain to coinage.
Bernanke hasn't changed his tune at all. He put out the 6.5% unemployment target (currently 7.6% unemployed 14.5% out of workforce) and some statements made prior about POSSIBLE easing in the future spooked the markets. The markets have "select hearing" like my wife. They hear what they want to hear. If they want to sell they just go back to blaming Europe or China or the Fed or tensions in the mideast. There is a myriad of things they can point too. That said, accomodation is totally unchanged for the near futures. Alot of companies have DOUBLED their profits since '09 on lean workforce and increases in productivity. Don't confuse Wall St. and Main St. because Main St. is still hurting.
All that said, I might reiterate the pricing of PAPER gold and silver. That is a big determining factor as to where prices go. They have the ability to send gasoline to $2 gallon totally disjoint from demand.
It looks silver and gold are on the rise shortly in the future. I think more people will be selling at their preconceived notion of a peak in prices. I also think the more sellers out there, more competition should get us UNDER the prices they charge now. I don't want to "catch" a bottom, or a top.
Of course I may be totally out of my mind, but that's besides the point.
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Valued Member
United States
396 Posts |
Quote:
OldSkoolMadSkilz
Posted 07/11/2013 10:53 am
. . . . BTW, I'm still not happy about the 2013 silver mint sets are about to drop $7. $53.95 now with no shipping and handling charges. A couple of months ago I bought three sets at $67.95. Ouch. I may buy three more to average down my cost. |
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Posted 07/10/2013 11:34 am
