I think my coin dealer likes me.

Well, let me start off by saying that I think I got heck of a deal, and want to know what you people think. These are the coins and bullion that I bought yesterday.

1. 100 oz of silver $2325
2. 2- 2010 1oz gold buffalos $2800
3. 1916 d merc. pcgs g08 $1850
4. 1909 vdb s pcgs f15 $1250
5. 1949 s franklin pcgs ms64 $125
6. 1938 d walking lib. not graded but probably a good au+ $250

grand total of $8600.

What do you think? Was it a good investment? Comments are welcome!

 

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Congrats on your purchase. A lot of nice pieces is sounds like. Have any pics yet to share?

Generally speaking, numismatic coins are a terrible investment.

What was the 100 oz. of silver? One bar, ten bars, 100 coins??? What kind of bullion? generic bar/rounds? govt. issued bullion?

 

Did you have to pay taxes on that too?

I think you were smart to buy - even at this time, when everyone is howling that the market is at a high everywhere in PM world.

I like numis coins. I like Mercury dimes alot. Sorry I can't tell you if you did well value wise or not. Throw enough time at the coins, and I bet you will do just fine.

Welcome.

 

I bought 100 silver mixed rounds, and x2 1oz gold buffalos or indians. They look like the buffalo nickels.

 

I think any coin dealer would like you after dropping that amount of cash in a visit. Mine would probably marry me after that!
Guy

 

You sound like a great customer- any dealer would like to have that type of sale.
But... from a 'dealer" who is also a collector,In my opinion.

$200 too much on the 1909-S
I would have sold you the silver in the classifieds for about $70 less (as posted)
About $60 over on the Buffalo Gold avg. price is $1370 per OZ retail
About $600 too much on the 1916-d (a VG10 is only around $1500 even)
The Franklin is about a $100 coin
Without it being Certified - I would always go on the low side of AU with the 38-d since it is gone down a lot in the past few years.Personally I think the coin in AU is around $175.

I'm not being mean just stating some pricing that I see or can reference.

As long as you are happy & enjoy your coins than that is what matters.

 

don't invest, collect.

 

Congratulations. The most important part is that you have your hands on them. It will take a few years for you to determine how you did price wise overall. If you like them, that is what counts. Better to do some learning on a 8,000 budget, than a 80,000 budget.

 

It appears to me that you overspent a bit on those coins. However, it entirely depends on what the coins (particularly the key date coins) look like. Do you have the ability to post pics of the key date coins?

 

p.s. it would have been a much better investment in 2004 when gold was 1/4 to 1/5 of what it is today. At current spot prices for silver and gold, I'm not so sure I like it as an investment there. I'm not trying to be a debbie-downer, and hindsight is always 20-20, but I am simply sharing my honest opinion.

 

Regardless of what one thinks as to whether or not it was a " Good Investment " or NOT, evidently YOU did, and didn't need your Dads permission either. If anyone would opine that it was not such a good Investment would only be argumentative at best. I'm certain you received a total breakdown from the dealer before leaving ( over spot prices etc ) and you feel your money will make some money . Let's see them their photo's .

 

Not if they're right.

 

Many of your comments on CT are the very stuff which sparks forum arguments, whether you intend it or not, they can be read with a whiff of condescension in this form, and help to diverge from on-topic discussion. If you are going to invalidate others' "opinions" about a given topic, then at least offer one of your own to both support your philosophical commentary on others' unique perspectives being inaccurate and to keep on topic. If you don't have one of your own, don't suggest others may be incorrect as you offer no reasoning as to why.

So, how are you certain the buyer received a dealer breakdown and didn't just walk in and go on a shopping spree when presented with a bunch of coins and bullion?

+1

 

That would be the appropriate way to complete such a transaction, and I am assuming the buyer did so. I also think the buyer was intelligent enough to do their homework, either before or with the dealer. These types of threads questions infuriate me because the question is asked , after the fact instead of " this is what I'm thinking of doing, what do you folks think? . What benefit does it serve the OP ( BUYER) to ask this question after the deed is done? Zero . As for the whether or not it's a good or bad Investment is all speculative and argumentative. Now if you have a personal issue with me, why not address it the grown up way and discuss it with me in private instead of using this thread. I dare say, your not impressing anyone.

 

Albeit appropriate per your experience and knowledge of the subject in discussion resulting from the OPs inquiry, it may well not be so for the OP and others. You know what they say about assuming...

Now, I wholly concur with you about the nature of these threads seeking supportive justification after the fact, to which I'd add (suggest) the intelligence factor in this situation, which you gave benefit of the doubt to the OP (respectfully) is yet to be fully determined. At best it's 50/50 or 'questionable' in light of the amount of money put down on various collectible and investment items to the post-purchase tune of 'How'd I do'.

As for argumentative, anything and everything has been or can be argued in some fashion between parties, reasonably or irrationally. To suggest others opining to this inquiry is useless is your own argument of a different nature and not one that addressed the OPs concern. General consensus in coin forums is that investing in coins is a difficult, dangerous and risky venture, best avoided. Collecting is to be thrilling and enjoyable, rather than stress-filled with calculated risks to protect one's wealth with the same thing meant for enjoyment.

I think you will face an up hill battle to suggest investing in coins is merely hypothetical and grounds for argument. Case by case, each person and their stated goals and inventory define them, they are not a hypothetical. They are a collector, an investor or some form of hybrid therein with intention or capability to separate their activities and interests. The generality of the statements that coins are a bad investment may be too simply expressed for your taste but it's not intended to reiterate every time full reasoning as to why amongst a niche audience focused on the topics somewhat regularly and more keenly than those outside investing and collecting.

The 67SLQ reference(?)... sorry but I don't know that one either. I haven't read any recent threads on those coins. There's also nothing I need to address in private, not sure why there would be. And one's own words and their implication cannot be excused due to others' interpretation of them nor ought a piece of hardware be blamed, after all, whose hands typed those words it spat out... you're just as responsible for what you spell out and phrase in the context you chose, as if you also had said them. If you cannot revise or explain what you meant, and those responding hold you to your words, that is what you meant, candidly or by implication.

Lastly, a healthy debate (not belligerent bickering type arguments) about this are equally as informative to the OP and others as to the question you moved to down-grade to a hypothetical and 'argumentative at best' as it actually works to show how complex and varied the perspectives and depths of knowledge are from one to another.

 

At current spot prices for silver and gold, I don't like it as an investment.

 

Amen!

 

Yes.. and no... There are indeed two different factions of buyers, and perhaps a hybrid of both in between... those who collect, and those who purchase solely for investment purposes.

 

Hell you dropped some big money and you paid a bit more than you had to on a few things and maybe all things but if you're happy with how well you did then that's all that counts. I don't want to mention what you paid too much for as others are taking care of that!! How about some pics?

 

I can`t speak about Your numismatic purchases, but I do know something about bullion.
I could have gotten 100 ounces of silver cheaper than that, but the dealer that I would have gone through has done A LOT of business with me.....as opposed to other dealers who would not have hooked me up so to speak.
It would seem that after this purchase I would think that You`d have some leverage to separate Yourself from the average Joe that Your dealer would sell to. (provided You keep coming back to Him) : )

I would check those rounds that You have for older pieces.....I recently acquired a round that I bought for $1 above spot and turned it over for $9 over spot the next day to another collector. Some older bullion has collector value besides its spot value. (If You have any questions about any of Your rounds, pm me, and I`ll try to help You out regarding their secondary value.)

I would not fret about paying what You did for the 100 ounces though....I`m a firm believer that silver has a long way to go before it peaks, and I`m still buying it weekly.