The future of rare coin collecting

This is extremely false. The price on the Comex is the price of silver. The price we pay is higher than spot because we look for smaller denominations and where there are more inputs than just a poured 1000oz bar. There are no premiums when you buy 1000oz at a time. You can exercise your right to receive physical silver at the price on the Comex. Buying off Apmex through eBay is NOT the most cost efficient method of obtaining silver bullion. Sorry.

 

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ok what is

 

Buying through the Comex at 0% premiums or purchasing 100oz bars from an online dealer which doesn't have the commissions that eBay charges them. For 100oz NTR bars the bid is $2820 they sell the same bar for $2899.

 

Save your 2009 nickels, they'll all be valuable one day.

 

Hahaha! Seriously, I addressed that honestly & squarely. Probably NO ONE here is buying 1000 ozt Ag lots on the COMEX. Practically no one is buying 100 ozt bars, either; these folks are scrambling for thin dimes found in coin-rolls ...or, more "economically" buying 1 ozt generic rounds off eBay or at small town LCS ops. It is what it is.

And you're totally wrong on that COMEX no-cost comment; there ARE ancillary fees (a premium) associated with delivery, ~1.31% for 5,000 ozt back in mid-2010: http://www.goldismoney2.com/showthread.php?4856-Delivery-of-a-COMEX-silver-contract-My-experience

Its almost certain you've never taken delivery of a COMEX contract, given your ignorance of that fact.

 

any link?

 

http://www.providentmetals.com/100-oz-silver-bar-ntr-metals-999-fine.html

 

That is a choice people take. They can save to purchase larger bars to avoid hefty premiums.
I read that post from the post you linked to. It looks like the real fees were $236 for approximately $100,000 in silver. He could have picked up the bars himself. Did he have to go through a courier?

 

Well, I'm only 16 and I think the hobby will live on, but with prices at an increasing rate.

 

See Tyler, you don't know what you're talking about. OF COURSE there are fees associated with taking delivery of a (small) COMEX contract, there's no such thing as a free lunch! That guy spelled it out clearly in 2010: it's probably MORE expensive now. He didn't include the CONTRACT COMMISSION COST either, that didn't get added; I'd presume it's fairly small. Fees, fees, fees...

$ 100 fee to Lind-Waldock (broker)
$ 136 to Scotia Mocatta (depository handling)
$1,000 fee to Dunbar (licensed courier)
~$1,236.

But it's simply nuts to imagine someone could drive up in his car, to pinch pennies from wholesale/bulk bullion operators... with compliance protocols to follow. Might as well try haggling for lunch at BurgerKing's meat factory! Again: it's pretty obvious you don't know how this works, but no matter: COMEX contracts really aren't designed for 99.99% of CTers and it's a waste of time to bother.

We're retail trade, period.

 

Even worse, we are also retail trade wanting to be wholesale in buying coins and PM and hoping to flip for big bucks. The customers you sell to now may be the big buyers of tomorrow and you should treat them so. Luckily the majority of those under 21 who want to become coin wheelers-dealers will be out of it, once they discover real life, real money , and real responsibilities. Then when they come back with a more mature outlook on the importance of collecting ( probably over 40 ) they can make real contributions.

And by the way, in the Bible and other older works, gemstones and jewelry are mentioned more than PM.

 

I think 3D printing might put a lot of pressure on
rare coin prices. Collectors are not just going to
have keys printed but entire series and even the
collections of famous collectors. Someone with
enough money can mimick the Garrett or Ford or
whoever. Depending on what the copyright laws
are they might be able to 3D the exact coins from
catalogs. The coins may not be real but the
collection, long since dispersed, can be real again.

 

Dude! Ask any newbie:

The first rule of Fight Club is you do not talk about Fight Club. The second rule of Fight Club is you do not talk about Fight Club.

 

Comex sells rare coins? What the devil? Who'd o' thunk? :devil:

 

:thumb:

Want the old saying?
Its the one you do know that can burn Your Soul+$

Money has Not Soul.

 

I was wondering if there are any stats or theory's on how many collectible coins get lost or vanish for whatever reason from the coin market never to return (or get cleaned, and otherwise lose numismatic value) per year? I was thinking that this may keep prices up even in the face of what some posts here have said is evidence of a dwindling coin collecting base, which would lower prices in the future.


one side question.... when rolling coins is there a best method? Are you supposed to place them obverse to obverse, or obverse to reverse for the least amount of wear?

 

I heard roll collectors like to see the obverse
showing on the top coin and reverse at the
bottom for rolls.

With lost coins, it's more likely that hoards still
exit from the Civil War-even in South America.
But if discoveries are made it does not necessarily
mean prices will tank. Sometime hoards boost
the popularity of a series.