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 Replies: 28 / Views: 3,329 |
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Pillar of the Community
United States
3843 Posts |
In recent years with gold being in uncharted territory at record prices I believe that many budget collectors (such as myself) have been hesitant to complete the gold page of our type sets or collect gold coins due to the increased costs involved especially with the two double eagles.
But now with gold and silver prices going lower are you more likely to start making gold coins a more substantial part of your collection? Prices are still high but they are now more attainable for the average middle class collector.
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Moderator
 United States
23522 Posts |
No. What I collect is far less melt-centric than it takes to be seriously influenced by raw metals prices. Yeah, I remember when (within the last few years) I could get Morgans for $15-17 but the price of silver is not why I'll never see that again.
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Pillar of the Community
United States
3343 Posts |
To some extent it whetted my interest in silver again. I collect coins I like that are expensive and scarce, but these show up rarely anyway and their price isn't affected by bullion. I also accumulate coins I like that are inexpensive. Today I bought another 1923-s walker in vg-f. There is no rational reason for liking 1923-s walkers. The price of silver dropped and now I want more of them.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
3453 Posts |
No - I still want what I want  . |
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Pillar of the Community
1751 Posts |
I always wanted gold, it was just a dream deferred. Once gold gets under $1k an oz, I'll probably look to buy again.
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Pillar of the Community
United States
4337 Posts |
I say buy now, because you will not see $1,000 OZt on Gold. $1,400 is the new wading point in the pond for now and its only going to get higher
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Valued Member
United States
380 Posts |
 with SsuperDdave |
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Pillar of the Community
United States
1186 Posts |
I would say no because the value of the silver content is negligible compared to the price of the coins. If I were buying bullion coins or "junk" silver or gold coins,that would be different.
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Pillar of the Community
United States
797 Posts |
It effects what I find locally quite a bit. I Browse the random Silver Foreign box at my LCS and in the last few months have found basically nothing. Working on a OFEC set for Silver coins has ground to a Halt. Even Problem Classic US coins are dried up. On the other end for the Silver US sets, One shop near me will close when Silver is low so he doesent have to tell people he is not selling. Others dont want to sell for so low so they basically put their silver aside unless it carries premiums |
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Bedrock of the Community
13014 Posts |
For me in some ways yes, but most ways no. Most of what I collect is numismatic but there are a lot of bullion coins I like. For the bullion stuff I've held off on purchases waiting for it to come down some more, for the numismatic stuff its relatively unaffected so I've made no change there.
The biggest impact it would have though is if gold came back down I would be a first time buyer of gold coins. I've stayed away because of the potential loss in them. Its one thing for silver to go form the 20s to say 8 dollars another for gold to go from 1400 to 400.
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Pillar of the Community
United States
4337 Posts |
Quote:
The biggest impact it would have though is if gold came back down I would be a first time buyer of gold coins. I've stayed away because of the potential loss in them. Its one thing for silver to go form the 20s to say 8 dollars another for gold to go from 1400 to 400. you're there now. Buy is my advice. The Fed is not going to up the ante on more than $85bn a month in currency as it is doing right now and eventually, they will have to stop and let the stock market stand on its own which will be your true test. everyone dumped PMs and other commodities to play growing confidence in market on stocks hence the sudden drop in PM value it will do it all over again, its just a matter of how long it will take. Of course this is all speculation, and why investing in any sort of stocks or commodities is a gamble. I happen to be of the belief that we have hit the new wading point in the water ($1400 OZT/$24 OZT) and it will only now climb again when the cycle is ready to repeat itself. 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. And that is ALL play money to keep the stock market and economy stimulated. Its not helping housing prices rise, just interest rates lower. PMs, especially gold and silver, are the tried and true commodities against bouts of hyper inflation, in any form. buy now, you'll thank my speculating later. |
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Pillar of the Community
United States
1374 Posts |
We are in a mini-bubble. I don't believe anyone thinks the recession is over, or that things will get any better than they are now. China's GDP is case in point. My hunch is that the stock market and PMs are once again being manipulated for another runoff. All this hay-day on record stock levels are feeding a fire built out of cow chips. Smoke screens seem to be a reoccurring themes in the new global marketplace.
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Pillar of the Community
1028 Posts |
I'm pretty happy the price of gold and silver is going down even though it is causing me to lose money. Is that crazy, probably a little bit. Two things have always bothered me, more so with silver than gold, but similar conceptually. I hate to see common silver coins sold for way more than their numismatic value to coin collectors. I also hate seeing decent silver coins, and in the case of Washingtons and Roosies, even BU pieces melted down. Such a shame. I think silver should be happy right around $10/ozt and gold at around $400/ozt. The money I would lose if that happened would be unfortunate, but I'd feel much better about the state of coin collecting. btw, luckily I reduced my PM holdings considerably when the prices were really high so I wouldn't be losing THAT much money.
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Valued Member
United States
223 Posts |
I collect mainly for numismatic value. But with the recent drop in gold, its got me thinking about buying world gold coins. Most stores and online dealers treat them like bullion coins. If I can find some places that don't charge a large premium I would pick some up.
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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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Replies: 28 / Views: 3,329 |
Posted 05/21/2013 9:53 pm
