| Author |
 Replies: 19 / Views: 2,552 |
Page 2 of 2
|
|
|
|
Bedrock of the Community
United States
14454 Posts |
I will tell you, I paid $899.00 for a Gold Buffalo 1 oz proof coin from the mint last year and thought it was outrageous, now when I see them selling on ebay for 11-$1300.00 it doesn't seem like such a bad deal anymore. 3-500 bucks in a years time is a pretty good profit on a coin |
|
Valued Member
United States
84 Posts |
Unless your buying a collectable coin in great condition , is the way to go. The market for just gold right now is slowly sinking. As long as oil keeps diving , which it will and the US can get the dollar going up. Gold will keep falling. It's about $875 now , lost over $100 in a month or so.
|
|
Rest in Peace
United States
5375 Posts |
I should get myself one of these buffalos some day....
|
|
New Member
United States
42 Posts |
I disagree that present volatility in precious metal commodities like gold indicates that gold is overall sinking... The dollar is ultimately unfortunately not going to do so well so fast. So, I perceive gold as likely averaging in the 900s and possibly going higher in months to come. In any case, good collectible gold coins seem especially in higher grades to be a good investment over the long term according to what others have said in response to recent inquiries on this website.
|
|
Bedrock of the Community
United States
20753 Posts |
I'm avoiding Gold and Platinum presently. Just a little worried about the China syndrom of producing so many fakes. Of course if you need Lead for something, that appears to be the place to go. And then there are those Alchemist still trying to change all metals into Gold. If they succeed, then what happens to those coin prices. Me, I'm going back to Beanie Babies.   |
|
Pillar of the Community
United States
6326 Posts |
Quote:I will tell you, I paid $899.00 for a Gold Buffalo 1 oz proof coin from the mint last year and thought it was outrageous, now when I see them selling on ebay for 11-$1300.00 it doesn't seem like such a bad deal anymore. 3-500 bucks in a years time is a pretty good profit on a coin I did that too.....except it was the inaugural year of 2006. I purchased two Buffalo's and I also got a 1oz Eagle. I believe the price was $795.00 then ? In 2007 I just purchased 1 Eagle...( still lucky with the price jump)....but yeah I feel fortunate about the price "then" and "now" !.... It took a couple months of saving to come up with the money.....but now I'll have em' forever. But that's IT for gold for me ! (at least in the 1oz range......WAAAAAAYYYYY too expensive now !.. GEEEEHOOSAPHATZ !....  Edited by eaglefoot
08/07/2008 3:53 pm
|
|
Pillar of the Community
United States
3343 Posts |
Based on my limited experiences with US pre 1933 gold:
-Unless the coin is in superb condition rarity means nothing. Unless it's uber rare the value is always driven by bullion.
-Buy what you like to hold and look at. I like the 1907 $10 Indian because of the tall rims and because there's no motto cluttering the field. I used to have an 1846-C $5 in AG that made the greatest pocket piece, but I sold it to someone who wanted it more than me. Sigh.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
08/08/2008 12:06 pm
|
|
Bedrock of the Community
United States
17884 Posts |
Quote:
-Unless the coin is in superb condition rarity means nothing. Unless it's uber rare the value is always driven by bullion. That's because the rarity only matters if someone needs it for a set (basically date/mint set) and the number of collectors doing that are rarer than the coins. So without the collectors to create the demand the price falls to much below what the rarity would make you think it should be. |
|
Pillar of the Community
United States
3343 Posts |
What that means is that you can own a genuinely rare coin for a small multiple over melt. A common 1891-cc $10 - mintage around 100,000 - sells for a fraction of what the far more common 1889-cc Morgan dollar sells for in the same grade. For me that makes the $10 a more desirable coin. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Pillar of the Community
United States
1984 Posts |
If a gold coin has future collector-added value, it probably already trades as a collectible, so you're going to have to pay a premium above melt in order to acquire one. I don't see too much likelihood that bullion coins will 'graduate' into the collectible premium category. I won't pretend to give investor advice, there are always those who think gold is overvalued and undervalued at any given moment. I do still see gold as a 'buy and hold' for the long term, as long as it's part of a diversified strategy that takes your time horizon into account.
|
|
Valued Member
United States
84 Posts |
Gold will hit $800 buy the end of the week , if not sooner.
|
|
New Member
United States
42 Posts |
Gold may well dip by the end of next week and even hover around those $800 for a while. But the overall message coming through in this thread, if I'm getting it right, is gold is no short-term investment. And if the coins are beautiful enough, one dreads parting with them anyway. I frankly don't see any thing but more volatility for a while, and unfortunately do not think oil will continue to go down for very long, nor the dollar, up. If I am reading the tea leaves correctly, it seems that things are likely to get worse before they get better over the next year or few years...
|
|
Pillar of the Community
United States
6326 Posts |
 Hear ! Hear ! |
|
New Member
United States
15 Posts |
I recently purchased a 1/10th oz w gold buffalo, pr70, dcam, fdoi, anacs graded coin. I know that gold is on a slide but I think by yrs.end it will again be approaching $1000 an oz.. I hope! Anyway I've heard rumors that in 09 they will no longer mint the buffalo in fractions and may stop it all together. Anyone else hear this?
|
|
Valued Member
United States
167 Posts |
Quarter eagles from the early 20th century.
|
|
Page 2 of 2
|
Replies: 19 / Views: 2,552 |
Page 2 of 2
|
First Page
Posted 08/06/2008 12:09 am
