When are you hopping back on the GOLD and SILVER buying train ?

An idea that I have been toying with and I'm not sure if it is a good idea or not. I have some fractional gold pandas that I picked up years ago around spot. Some of them have done very well and are better dates now. An example is a 2002 1/10 panda that can go for close to $2500. My thinking is cashing coins like that in and turning it into gold bullion so basically turn the 1/10 into almost a 1/2. Is this a good thought or bad thought?

 

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There has to be a happy medium..LOL

 

I like it ! but not sure if you would get that from a coin shop, most are not giving premiums only the gold content i have several 1/10 Mexican pesos that are worth well above spot as there production numbers are only in the hundreds would have to go the way of the private sale to get maximum value.

 

Auctions are best bet for getting max. return. Also "numismatic" coins in high quality are great, they offer best investment potential, and "eye candy" for us collectors.

 

I concur. Last week, I had two friends ask me if I own any silver. These two guys have never before asked me about precious metals. About a month ago, I had another friend tell me he's moving 20% of his portfolio into gold. He's another one who never before in the 20+ years I've known him has mentioned precious metals to me. It actually reminded me a bit of the shoeshine boy tale from 1929.

 

Well, the good news is that gold's unlikely to go to zero, unlike any given stock or crypto.

I hope his nerves are steady enough to ride out a 20%-30% drop, though. Because those definitely happen. Sometimes even more. The surest way to pile up losses is to keep buying into whatever's hot, then selling after taking a loss, then piling into the next thing and repeating.

 

Very intriguing out-of-the-box idea worth considering. What are you doing or thinking about it ?

And this.....what 1/10th ounce Pandas are worth that much ? Is there something special about the 2002's ? A 1/10th ouncer on March 2nd should have sold for $540 or so based on gold spot. $2,500 ??!!!???

I have some fractionals for a few foreign and AGE coins and I'm wondering if they picked up some scarcity value along the years. I paid a fractional premium at the time of 15-30% but nothing close to 400% like your coins is worth. Not sure I'd sell and buy bigger...but intriguing !

Sadly, I think I sold my 1-ounce Panda a few years ago (during Covid ?)... and I was probably so bummed out about it I forgot to inventory it out on my spreadsheet.... so the last few years I thought I had it but apparently didn't as my biennial hard inventory check didn't turn it up.

A bit bummed.

 

Special? Low mintage issues are worth more. The thing about pandas was once the chinese were able to own gold and they became a player on the global economy they have a desire to buy their pandas back and bring them back to china. When the coins were originally issued they were for export almost exclusively. Basically the mintages are low and the demand is there for them. With that said they were even more hot about 8 years ago. I worry about the silver ones now.

 

Yes, I realize that fractionals you have to pay a premium to purchase....but a 1/10th ounce gold coin has about $500 in gold....30-40% premium, the highest I ever paid for sub-1 ounce coins, would take you to maybe $700....he said he could get $2,500 !!

That's why I wondered if like the Libertad's, the 2002 Panda fractionals had some unique collector/registry rarity behind them.

I own a few fractionals for AGEs, MLs, Pandas, and Krugerrands. Paid premiums for all of them, but probably 20-25% on average. Granted, gold was alot less.

Interesting to know, thanks. And I have a few 1-ounce Silver Pandas.

 

Is that a certified/graded coin, like a PR70DCAM or something like that ?

 

Nope its sealed in the original mint cello which for pandas it is equivalent to a MS68/69 graded coin. I'll see if I can snag a photo.

 

Like this.

 

Here's another that is fairly expensive considering its a 1/10 oz.

 

Now THAT is a scary admission.

If the tag/label were to read 'Minted in China' as opposed to 'Made in China', I'd have lots more confidence in its authenticity.

 

I picked up a silver 500 gram bar at 65 and a 250 gram bar at 67. Never hurts to cost average on the dips. I still consider silver a steal at current prices.