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 Replies: 28 / Views: 3,340 |
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Pillar of the Community
United States
4337 Posts |
Quote:
I only spend what I can afford to lose exactly. My recent gold coin acquisitions have run me a few thousand but that money came off the heels of selling items that I no longer used, i.e. DJ stereo equipment that was outdated. I felt it was time to buy and if I am wrong it costs me what I could afford to lose. |
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Valued Member
United States
258 Posts |
I purchased a couple of 1850s one dollar gold coins just to be able to say I have some.Not due to the price of gold
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Pillar of the Community
 United States
3843 Posts |
Personally cheaper gold/silver has had some but not a whole lot of impact on my collecting goals due to the fact that most of the coins I collect have significant numismatic premiums. However with common pre-1933 gold becoming much more affordable in high circulated grades I'm tempted to pick up some examples. Also now I'm more inclined to purchase common Morgan/Peace dollars if the price is right and the seller is only asking a few dollars over spot. In the recent run up of silver prices in the past few years I couldn't justify buying average circulated Morgans for $35 a pop but now that prices are lower I'm reconsidering.
Thanks for the responses everyone!
Edited by Joe2007
05/27/2013 3:37 pm
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Valued Member
United States
291 Posts |
Unfortunately MS65 Saints have not dropped in line with the drop in PM prices.
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Valued Member
United States
104 Posts |
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Does the drop in gold/silver change your collecting goals? Not at all.... :) PM prices don't seem to affect what I collect, Bust Half Dollars. |
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Pillar of the Community
United States
5863 Posts |
Quote:
Unfortunately MS65 Saints have not dropped in line with the drop in PM prices. Same thing with high-grade common date Morgan dollars, sadly. |
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Pillar of the Community
United States
5863 Posts |
Man, I just noticed that APMEX is currently selling common date Saint Gaudens for $1,732. Since each St. Gaudens only contains 0.9675 troy ounces of gold and gold is currently trading at around $1381, that's a whopping $410 per ounce over spot. *OUCH* No wonder people keep telling me to never buy classic gold coins as investments... |
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New Member
United States
18 Posts |
I bought my MS-64 Saint for $450 a few years back.
I knew I should have bought 2. ;)
Not back in buying mode anytime soon though.
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Pillar of the Community
United Kingdom
548 Posts |
Collecting goals have changed a bit in that I'm now more concerned with proof coins than standard bullion. Proofs hold their value a bit better than bullion because their value isn't tied to the spot price.
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Pillar of the Community
United States
3343 Posts |
Which proofs? Yesterday I saw a proof Franklin in the bullion bucket. 50 years on the only appreciation it's had is for the silver content. The late '90's no-silver proof sets have steadily dropped in value and have few buyers for the 91 cents value they contain.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
62 Posts |
My budget is for circulated coins (I know... but I have fun with it!). When silver peaked so sharply, I was hesitant to work on my dollar and half sets. Now that prices seem to have stabilized a little, it seems much more achievable, and I'm not so worried about getting hosed in the process.
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Pillar of the Community
United States
1704 Posts |
Hasn't affected my collecting goals. The coins I buy which are affected by the spot metal prices are for resale and I don't keep them very long. Ed ANA LM-3175 |
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Pillar of the Community
United States
814 Posts |
Im still waiting for silver to go under $ 10 before I get back to buying. Gold is out of reach unless it hits $500 which I dont see happening.
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Replies: 28 / Views: 3,340 |
First Page
Posted 05/27/2013 3:07 pm
