http://www.pcgs.com/prices/PriceGuideDetail.aspx?c=771 Yes i know that pcgs price guides are a little on the high side but still, is there something i am missing? did someone find a whole crap load of $5 indians somewhere? why are the prices taking a dirt bath?
Did I miss something - are the prices dropping recently? I guess clicking the link would have been a good idea...but at the same time - how much are they down? I didn't see the previous prices.
Those who drive the market in generic gold (the big telemarketers) are buying a lot of product back from their clients who are taking their profits from the uptick in gold over the last couple of years, therefore they have tons of coins and are not buying from the producers because they have their own coins to resell. This leads to lower prices. Additionally the advent of CAC has caused generics to be very weak because it is the segment of the market that has seen the most gradeflation. Therefore there are very few CAC quality coins in generic gold field and as people demand more and more CAC product there is less and less support for the non-CAC generics. With very few exception the generic gold market is getting killed at the moment. Saints in 64 can be had for less than $200 over melt and 63's are less than $100 over melt. This is a fairly good opportunity to buy generics because at some point the marketers will exhaust their supplies and begin ordering again and the premiums over melt will return.
thanks for the info very helpful for my future purchases On a side note i will take my 33 saint in ms 63 where do i send the check for $100 over melt it really cant get any more generic than that
You know where I work, just send it to me at the office. P.S. You wont be offended if I accidentally send you a 1924, 1926, or 1927 would you? That's the thing about generics, I get to pick the date.
In reference to your question, $5 Indians in 63 are very dangerous right now, because they are right above a big price break, but absolutely no one wants them right now. They are fairly scarce as far as generics go, but they are in a serious funk at the moment.
if i sent it to you at work and you accidently sent me the 33 we would both be behind bars and thats one accident i can live without so i will pass
Another thing to remember about generic gold coins is that they are often promoted by major marketers like Standford and Blanchard for their "programs." In the past year or so, $5 Indians have been heavily promoted. The need for $5 Indians by the major marketers for the programs has supported prices in the market. Now, these marketers are beginning to promote other series, in part leading to the loss of demand for generic $5 Indians. Note that some of the key date coins, like the 1909-O, 1911-D (a very undervalued date in uncirculated in my view), 1914-S, 1915-S and 1929 have not seen the same price decreases.
