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 Replies: 10 / Views: 2,068 |
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Pillar of the Community
 United States
2448 Posts |
Have to sink a new well and didn't want to pull anything out of investments. While looking at financing, I discussed coin collecting with a contractor that gave me some startling info on the set. I checked ebay for average sold prices and was rocked to see that they were selling for $2,500+. Is this for real? If it is, Is it just because of the fractional Buffalo?  |
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Valued Member
United States
182 Posts |
The gold issues are skyrocketing. The prices that are on ebay are low, because dealers have a lag in replacing their gold. Actual prices realized on ebay speaks how cautious people are over selling property which might be the only thing they have to pull them from the ferocious fire that is austerity. One question I don't have to ask myself" "How does it feel to be hungry, and have no food for days." Knowing that answer explains the price of gold items lately. Folks have touched base with others who were around during the depression. My mom described having to wait for tomatoes to ripen before they could eat, and that was in the forties when the Depression was supposed to have ended. Sit on your 2008 issues for a while. A day. During that day, don't eat anything. Let us know whether you want to sell them afterwards. Gold is a store of value, unparalleled. Worldwide. These times are why many of us collect so feverishly. Hunger. |
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Pillar of the Community
United States
757 Posts |
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Pillar of the Community
 United States
2448 Posts |
Interesting philosophical point, but I don't think that hunger is driving gold prices today. In all honesty, I believe it's the falling dollar. Dealers around me can't keep certain gold products in stock because people want a hedge against inflation or the mint has stopped minting a coin.
My question still stands; What make this set so expensive?
Edited by carmykle
10/10/2010 9:56 pm
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Pillar of the Community
United States
757 Posts |
nono, carmykle I think that's exactly what legend's getting at. people want a hedge against inflation because they don't want to be destitute, poor, hungry, etc. he's referring to the more primal undercurrents of the 'desire to have a hedge...'
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Pillar of the Community
United States
2448 Posts |
Yes I do understand. If you want the hedge buy an ounce of gold for $1,335. This set is selling for twice spot price and is only 1 ounce, total weight, of Gold. The AGE has .5455 T oz of 91.67 Gold and the Buffalo, of course is .5000 T oz of .9999 fine gold. OK, this is what it looks like:   It also comes in a really handsome, genuine, imitation Mahogany box with really neat clasps. OK, this is getting crazy, it must be the box!! |
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Valued Member
United States
182 Posts |
I have to agree that the set price is being driven by the buffalo fractional, and buyers who buy this set have a scarce store of value, no matter what. I did the regression calculations from stats and this set reaches $5,000 in six years. However, collectors being what they are, those who got left in the lurch for the Buffalo fractionals are going to dry that market up soon. Moreover, lots of folks are selling their limited issues for cash, and for good reason. There are pawn shops all over this area with GEM Proof Eagles of gold and silver from all years. This is the worst recession to ever be called a recession. Before political correctness spin doctors started to make their mark on the American landscape, what the economy is right now used to be called a DEPRESSION. There are more out of work right now than at any time since the great Recession of 1929. LOL. Some times, it's just a cigar. Sigmund Freud.
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Pillar of the Community
United States
2448 Posts |
Don't know what I was thinking. I finally checked the PCGS Pop reports and got my answer. I didn't realize so few Bufs were minted. PCGS has certified only a little over 6.4% of the $25 Bufs with Heritage auctions already selling them for 2x spot. The total mintage of the $25 was only 17,500. The $50 2006 is selling for almost 5x spot.
I'm going to have to pay more attention to gold issues. Those two adages still ring clear; "Knowledge is King" and "Ignorance is bliss". Legend, I agree with you prediction of where the fractional Bufs are heading in relation to spot price. After all, it's still just bouillon.
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Valued Member
United States
182 Posts |
Is that 5x spot price for the 2006 Buffalo Proof or Uncirculated? I did not see those values even a month ago!
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Pillar of the Community
United States
2448 Posts |
This is the current Pop report on auctions for the Proof: Quote:Public Auctions Grade Price Date Firm Sale Lot # Cert PR69 $2,760 Sep-2010 Heritage 2010 September Long Beach, CA Signature US Coin Auction #1144 12235 PCGS $6,613 Aug-2010 Heritage 2010 August Boston, MA Signature & Platinum Night ANA Coin Auction #1143 5537 PR69 $1,840 Jul-2010 David Lawrence RC Thursday - Internet Auction # 493 7809 NGC PR70 $8,050 Mar-2010 Heritage 2010 March Fort Worth, TX Signature ANA US Coin Auction #1138 1897 NGC PR70 $1,725 Dec-2008 Heritage Tuesday Internet Coin Auction #28123 23933 NGC This is the Unc auction report on the UNC: Quote:Public Auctions Grade Price Date Firm Sale Lot # Cert $3,450 Aug-2010 Heritage 2010 August Boston, MA Signature & Platinum Night ANA Coin Auction #1143 5535 $4,025 Aug-2010 Heritage 2010 August Boston, MA Signature & Platinum Night ANA Coin Auction #1143 5536 MS70 $5,175 Feb-2010 Heritage 2010 February Long Beach, CA Signature US Coin Auction #1137 909 ANACS MS70 $1,495 Dec-2008 Heritage Tuesday Internet Coin Auction #29011 21876 NGC MS70 $1,725 Dec-2008 Heritage Tuesday Internet Coin Auction #28125 26006 NGC It's still a whole bunch of money!!  |
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Pillar of the Community
United States
2448 Posts |
Sorry, the previous was for the 1 T Oz 2008 Buf, that's what I thought you wanted.
Edited by carmykle
10/12/2010 7:32 pm
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Replies: 10 / Views: 2,068 |
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Posted 10/10/2010 2:30 pm
