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 Replies: 10 / Views: 1,306 |
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Valued Member
United States
382 Posts |
As I have just gotten back into collecting after a 4 year or so break, I have not followed prices at all. I am curious how the metals craze, (a complete turn off to me) has affected the collectable coin market. I collect Large Cents, Kennedy and Ike proofs and other coins that I just like. As we know before the craze, (while I was still collecting) we had the metals guys, silver and gold common and junk spot dealers, all looking for a quick buck. Metals were low. I see now locally,and all over the TV that like years ago, all the jewelery and coin dealers have signs We buy Gold, we buy Silver !! Does the dramatic price rise in gold really affect the small time collector of circulated coinage ? I am sure the prices have gone up in the last few years in collectable coins but how much? I have not had a chance to really compare prices as if yet and I know that you guys and gals would have some great input on this.
Thanks Tony, a small time circ. collector and Copper lover.
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Pillar of the Community
United States
1055 Posts |
For low-grade gold US coins, prices are more so based on Spot value than collectible grade coins. say a fine or very fine Indian Quarter eagle might still get close to $150-$175 still way above spot value of spot for the coin. Collectible Gold coins in XF-AU+ are relatively unrelated to the spot price. A half eagle say 1911 in AU-58/MS-60 might be a $400 purchase for 0.24187 oz. or gold. Still well above spot value. The craze is clearly visible in $20 Double Eagle low grade stuff. Like VF/XF Liberties and St. Gaudens going for $1,150-$1,250 ect. much more than they were trading for a couple years ago. Again Personally I feel the gold craze affects the low grade common stuff more than better date/grade coins |
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Pillar of the Community
United States
2150 Posts |
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Valued Member
 United States
382 Posts |
Ah I see same as always huh, ok thanks.
Tony
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Pillar of the Community
United States
511 Posts |
Lower-priced collector coins, nickels and copper are still pretty much the same as they were a few years ago. The big change is in the premiums above melt for pre-1933 U.S. gold.
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Valued Member
United States
382 Posts |
Ah thanks, I guess that's good, my Circ collection will not cost me an are and a leg due to hype,, I hope !
Tony
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Pillar of the Community
United States
1055 Posts |
Quote:
Ah thanks, I guess that's good, my Circ collection will not cost me an are and a leg due to hype,, I hope !
Tony What kind of circulation set are you working on? Right now I am putting together a type set of the more affordable series. Not sticking to one grade but my ultimate goal is AU+ across the board. Right now my highest is graded MS-61 (Type III Dollar) and Lowest is graded VF-30 (CLassic Head Quarter Eagle)-I will be upgrading this one later! Gold $1 TYPES I II III Gold $2.50 (classic head, liberty, Indian head) Gold $3 (Indian Princess) Gold $5 (Classic head, Liberty, Indian) Gold $10 (Liberty, Indian) Gold $20 (Liberty, St. Gaudens) Gold Commemorative (classic, modern) (I will add more types once I collect them all.) So far I have Gold $1 Type III Gold $2.50 (Classic head, Liberty, Indian) Gold $5 (Liberty, Indian) Gold $10 (Indian)!! And I am getting closer to my first Double eagle!  WARNING-This gets very addictive! |
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Valued Member
United States
382 Posts |
Hi Cownas, I have been working on Large Cents, a date set from 1816 to 57. I love old coppers. I am going to start a few short sets this year, Half Dimes from 1853 to 59, affordable, and maybe a more modern set, Walkers of Buffs. No gold for me, would be fun but not right now anyway. I am also going to concentrate on Key dates of assorted coins. Anything from Bust right up to Walkers and Mercs, I am not really a set builder. Just like the look of Circ coins. Tony |
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Bedrock of the Community
United States
20753 Posts |
As usual the discusion of prides is usually based on what is published and not reality. It is really easy to state the price of Gold is $1,000/ounce but this is just a price and may or may not be a thing of reality. If you wanted to purchase an ounce of Gold and you found it somewhere for $1,000/ounce, then just where would you sell if for that? Regardless, of Gold, Silver, etc metal prices coins usually have a completely different value. Way to many individuals end up selling Silver coins to someone for what is called melt. Then that person ends up finding a small fortune in coin value there but they too have the problem of finding a purchaser. I guess this is why ebay is so popular. If you took a $1,000 Gold coin to a coin show, coin store or any dealer you would not get anywhere near that unless you were discussing coin values. As to your question I would venture to say that my experiences are that regardless of the price of metals, coin dealers and collectors stick to coin prices. Only many real fools sell coins for so called spot. Contrary to that though is the fantastic deals available from sellers of coins for metal prices. And example of this is a person that sells coins at a local flea market. All his coins are from bulk purchases of people that sell to him for melt. So far I've found Mercury dimes in his so called melt piles such as the 42/41, 26S and many others. If those are melt, I hope I keep on finding sellers of metals like those. |
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Valued Member
United States
382 Posts |
I do see what you mean Carl, I guess those guys that buy for melt value don;t sort through their coins, just sell for melt too so there are finds to be had in those lots.
Tony
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Bedrock of the Community
United States
20753 Posts |
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I do see what you mean Carl, I guess those guys that buy for melt value don;t sort through their coins, just sell for melt too so there are finds to be had in those lots.
Tony
So much more so than people realize. At one coin show I was standing right by a table where a guy with a bag of Mercury dimes was making a bulk deal based on spot for Silver. I watched in amazement as the person said I don't know anything about coins but everyone tells me I can really make some extra cash on these. Much later the dealer, I know him, told me there were several 21's, 21D's, 26S's, and many other valuable coins in there. I would think just a few of them paid, when sold separately, for the entire bag. There are metal forums where people discuss bulk quantities of coins as just metal. Hoading many pounds of Copper coins for Copper prices only with no idea of what they have. |
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Replies: 10 / Views: 1,306 |
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Posted 10/18/2009 1:20 pm
