Why I Stay Away From High Numismatics.....

colu41,
I believe you are confusing numismatics (high or not) with bullion speculation.
To buy common dollars low and to sell them at a profit is fine as long as you do not confuse this practice
with buying select examples to hold and to admire.
There is room for all to follow each one's particular interest.
Clint made a great point: do not confuse the two.
Both are valid pursuits, but one is apples and the other is oranges.

To me...

If you are in it for the money...short term or long....they are all bullion.
If you are in it for the pure enjoyment...short term or long...they are all numismatic.

To me it is as simple as that...determine which camp you live in, because the rules for each are very very different! Sure....you can dabble in both, but just know, understand, and live by the rules of each and don't get them muddied up and you will do great.

Im (in all reality) definitely in it for the long haul. The few Morgans I bought and sold were just to quickly build up my ASE stack :).
I was just trying to see if (for example) paying $150 + for an 1879 CC Morgan dollar when, I see it as, if that melts in a house fire, its currently worth no more than $26.30. lol. Thats just my opinion I guess. I dont want to start an argument with the high end collectors on here. I respect what you do, I just cant bring myself to do it.

There's a huge difference between the Morgans that sell for close to melt and a coin with significant numismatic value. If you pay $150+ for an 1879 CC Morgan(assuming that's market value) & the price of silver drops to $5/ozt you probably won't lose much, if any, value.

The Morgan's in your example have pretty much always sold for melt + a small premium. There isn't much of a numismatic premium. Your ability to buy low & sell high is an example of arbitrage, which is the practice of taking advantage of a price difference between 2 markets.

I don't like buying at these prices, but I said you know what now is a good time to go after the TRUE high end stuff, since prices rarely come down on them anyway when prices drop, so low 40's per oz. is not too bad on some things....

For example new additions, pics later.....

1. Perth Mint Lunar set, 1st series on running auction great price under 900....

2. Worked out deal with TBK to get back a 10 oz. ox. bar and that Gateway 25 oz. old bar I sold him recently....

3. I grabbed a sea turtle five oz. Fiji round as well, or 52 oz. total....

I have an average of right at 76 per coin in the 1st series Lunar set, but as we all know they bring bigger money every day, week, month, and year. But great deal on the rest of it, so my total cost is up there over 2k, but total cost per oz. averaged out of all 52 oz. is 47 per. Still seems high 47 per, but the Lunar set at 76 per for 12 coins pushed that up there....

TBK gave me great deals real close to spot as always, thanks again!!

If it was generic rounds not such a good deal, but could be worse on the high end stuff, and those complete Lunar sets 1st series are more and more scarce, as many were chopped up and sold out solo, box and all I fig....

Try and complete all 12 buying each solo on bay for under 900, good luck.....

One of the true secrets of financial success is to "know what you don't know". I have little to no knowledge of real numismatic coins, have no intention of acquiring such knowledge, and do not buy them. Knowledge is power and when you jump into a game in which you do not know who the victim is, it is YOU. Make mine bullion all the way. That I understand and can deal with.

I don't mean to stray from the OP's topic, but congrats Silverhawk - on more than one front! Good work with the recent buys, but more importantly, your soon-to-be-born son. Wishing nothing but the best for your new family.