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 Replies: 7 / Views: 1,188 |
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Valued Member
United States
136 Posts |
Recently came back after a few years. I have partial date/mintmark sets of several series. I am finding now that the prices on any coins with silver content are through the roof. Even the crummy stuff costs many dollars per coin. I have pretty much decided to concentrate on the non silver coins but am wondering- how likely is it for some of this to abate once (if ever) the economy improves?
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Moderator
 United States
23522 Posts |
Well, consider that the value of the "crummy" stuff is tied directly to the price of silver. My guess would be that this value will somewhat decline once the economy improves - people who have taken positions in precious metals from simple fear will liquidate - but there's nothing wrong with long-term holding of bullion-value coins.
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Pillar of the Community
United States
3486 Posts |
Coins1989,
I have sold off a lot of common bullion coins and I have kept a few of the better dates and mint marks.
What distresses me is that what "USED" to be a 'BETTER DATE" is today no better than bullion prices.
So, I bit the bullet and sold off a few this past weekend to obtain a few nice, old coins which will always have a numismatic value above their silver content.
Those of us who have been collecting a LONG time all face the realization that the times have changed.
A sad but all-too-true fact about where coins stand today.
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Bedrock of the Community
13014 Posts |
It would depend on how much the economy improved. You'd see a price pull back in silver after a while if the economy was booming again, but it'll be a little while before that happens
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Pillar of the Community
United States
3843 Posts |
Silver has many industrial uses so it could potentially go up in booming economy where supply is constricted. I heard somewhere that there is not enough silver being mined currently even with elevated prices to keep up with current demand.
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Bedrock of the Community
13014 Posts |
Ive read that too but I think thats more from the bullion demand than industrial right now
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Bedrock of the Community
United States
11951 Posts |
I agree that many of today's silver and gold coins are tied to bullion prices. That is something all collectors should know from the start.
Only thing I am pretty sure of is silver and gold will go up higher and it will go down lower than it is right now.
I hope that many of us are using "hobby money" to buy coins with, and not money needed for future living expenses.
If you are using "hobby money", some books call it disposable income, then just be smart on your purchases and enjoy the hobby. Not doing so would be like saying I am not going to play golf this week .. because the cost of a round of golf might go down next year.
Of course all of us hope the value of our coins will maintain or go up in value .. but sometimes that will not happen.
For me I will still purchase bullion and collectible coins. If silver or gold does go way down in price .. I will buy more. Because I feel in the long term it will go back to these levels. For me bullion coins are my insurance policy for a possible depression. And we all know how much a good insurance policy cost.
Edited by GR58
09/19/2012 10:26 am
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Bedrock of the Community
United States
20753 Posts |
 As has been noted on this forum many times, you should really think of this hobby as a hobby. Not an investment. Yes Silver and Gold are way up there from years ago. So is gasoline for your car. So is the cost of watching TV. Yet I can still get a loaf of bread for $0.89 by me. Prices of almost anything either go up or down. Coins are right now a hot hobby and yes, the prices of Silver and Gold make it worse to buy now. Yet just how long do you wait to buy something you like, want, need, etc. If you need a car right now, would you say I think I'll wait to see if the prices go down? Yes the prices of coins has gone up, up, up. If you would have had a price list of about 20 or 30 years ago, you would say this is nuts, I'll never buy anymore coins. Nor a car, TV or anything since prices go up, down, up, down. Just remember that this is supposed to be a hobby for FUN. |
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Replies: 7 / Views: 1,188 |
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Posted 09/18/2012 3:36 pm
