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 Replies: 16 / Views: 3,291 |
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Valued Member
Canada
263 Posts |
Just a thought.
How low does silver have to go to make our silver coins worth more then bullion value...
Now I know that most of us will just hold onto it and wait for the market to bounce back, but what about book prices and trends...
Just a thought, would love some input.
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New Member
Canada
48 Posts |
You beat me to posting this. Great question and I'm sure that a lot of people here are watching the crashing gold and silver prices with great interest. At what point does this crash (providing it does not rebound in short time) impact the book prices of gold and silver coins both old and new? For instance, could I as a buyer look forward to the possibility of seeing pre-1967 silver dollars reducing in price due to the reduced value of their metal content? Would the RCM have to adjust the price of their commemorative coins as they release new issues? |
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Pillar of the Community
Canada
2366 Posts |
Coins that trade like commodities (think 1966 VF quarters) will be the most affected. Although, when I was going through ebay on the weekend people still seem to be happily paying $30+/oz.... Coins that trade more on supply and demand won't be significantly affected. As one of the other members pointed out on a previous thread, if a 1 oz silver NCLT coin is selling for $149 then the fact that the value of the silver in it has dropped from $30 to $25 isn't really significant. Similarly a 1947 MS66 ML dollar currently listing at $6.3k won't be affected by a $3 decrease in its precious metal value. |
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Valued Member
 Canada
263 Posts |
Silver now at $22.81......Falling fast.
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Pillar of the Community
United States
4897 Posts |
Whenever the price falls below what the seller paid for them.
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Valued Member
United States
362 Posts |
Great topic and I too was just about to pose this very question. Subscribed to this topic.  |
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Pillar of the Community
Canada
1192 Posts |
Coins that will benefit the most from this drop in silver price will probably be things like VF George VI and MS60-62 QEII coins.
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Bedrock of the Community
Australia
21786 Posts |
I have over 10 gold coins that are more than 1,000 years old.
Even with this class of coins, the variation in their gold value DOES have some influence.
I also have a small amount of bullion.
Overall, PM pricing does not concern me very much, but I DO watch bullion markets with interest.
That puts me in a position of forming my opinions in a DISpassionate manner.
Would I be more inclined to buy numismatic gold now? A mild 'yes'.
Would I be more inclined to buy bullion PM's now? A stronger 'yes'.
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Pillar of the Community
Canada
2366 Posts |
Fear of central banks selling gold reserves thereby flooding the supply side leads to a drop in price forcing hedge funds and other leveraged 'owners' to sell causing a further drop in price continuing until the vulnerable positions are unwound and the surge in supply has finished working its way through the system. While it is certainly a better time to buy than, for example, last week, don't take that to mean there are guaranteed short term profits available in PMs right now. I wouldn't presume to call the bottom on this but prices still have a long way to fall to return to historical norms. And no, I'm not saying that they will fall that far either. I have no clue. Hedge your bets and proceed cautiously with any moves.
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Valued Member
Canada
173 Posts |
I have been waiting for an event like this to buy pre-1967 quarters, dimes, etc
Perfect time to collect, but not invest
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Pillar of the Community
Canada
2366 Posts |
True. Good time to buy. Not so much to sell.
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Valued Member
Canada
348 Posts |
Thats what everyone here kept saying when silver was $29
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Valued Member
Canada
111 Posts |
Since the crash the demand for physical PM has increased. It's not a time to sell. One thing that I found funny is that kitco has no more canadian bullion for sale in the last three days. Yesterday you had a choice of only six silver bullion available.
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Pillar of the Community
Canada
2366 Posts |
@brexzz1 Not me! :-)
@pimpim Yes, people who bought when silver was at $32 aren't going to sell when it's at $22 unless they have to. They'll sit on it a while waiting for a price recovery. Supply will drop and prices may go back up (if demand stays constant or increases etc etc)
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Pillar of the Community
Canada
1581 Posts |
The gold miner stocks have been obliterated by the fall. Barrick trades for less than it did when gold was $350 an ounce. In fact, it it is back where it was 20 years ago. From an all-time high to 1993 in 15 months.
How many mines can make money with sub $1400 gold?
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Valued Member
Canada
111 Posts |
Premium for silver maple leaf is 22% today.
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Replies: 16 / Views: 3,291 |
Posted 04/15/2013 5:20 pm
