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 Replies: 28 / Views: 3,336 |
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Bedrock of the Community
13014 Posts |
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Remember, $400 OZT gold was a different time, different economic landscape with regards to a lot of factors. Inflation, real estate, bank behavior etc... all changed from those days. $800 OZT was closer to the current landscape but the fed was not pumping $85BN a month, month in and month out, into the landscape. Thats not any different though than what the speculators in the 80s said. It will go back up again at some point, but we have a long history of prices not being supported at these levels. For the kind of money they cost now I can think a lot of things Id rather buy than gold. If its still there in 5 years ill be a believer of the new pricing and probably wont ever be buying gold coins if thats the c ASE |
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Pillar of the Community
Canada
3692 Posts |
I only spend what I can afford to lose. The prices now are the same as 2009-2010-ish before the huge runup of 2011. Back then I was saving for school so I didn't go all in. Right now I'm out of school but I would still not bet the farm; I only spend what I think I can recoup later. As of now, I'm trying to think of what will happen to my collection once I pass on because for most it's such a burden to have possessions and they'd rather have fast money.
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Pillar of the Community
United States
4337 Posts |
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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thousand but that money came off the heels of selling items that I no longer used, i.e. DJ stereo equipment that was outdated.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
5862 Posts |
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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
5862 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: 3,336 |
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Posted 05/26/2013 3:37 pm
