anyone buying now?

I think it would be crazy to buy coins now. metals are about drop big time and coins with them. Am I off base with this?

 

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yes, you are off base, imo. The coin market has traditionally performed quite well during periods of economic upheaval and I expect this time to be no different. As other assets fail to meet expectations people with money to "invest" will (and already have) begin to purchase tangible investments including bullion and rare coins. Additionally, the change in metals price only affects the generic bullion-related pieces, not rare coins. The rare coin market is basically independant of the bullion market.

 

Well, silver has dropped considerably... I visited my local coin shop today and picked up twenty (common date) walkers for $4 each. The same coins were $7 each a few months ago. So I'm buying!

 

Right now, as of Oct 24, 2008, with silver at $9.37 I am still buying. I buy coins (mostly silver) regardless of what the market is doing. Silver and gold are the same as stocks IMO, buy low, sell high.

http://www.kitco.com/charts/livesilver.html

 

Same here Buying lots of silver!!!!

 

You da man !

Everybody knows to do it, but few actually do. They're scared !

Sure, I'm willing to buy. There are a few good deals, maybe slightly better than normal.

 

I'm watching and buying low. Buying buying buying. Not selling. No.

 

Metal prices have no direct effect on the coins I buy, so I haven't stopped. If anything, with the price of the dollar vs foreign currencies improving, I'd be buying MORE.

 

I say buy if the price is right. I don't think that rare coins are going to plummet along with the metal prices.

 

Considering coins such as Standing Liberties, Mercury dimes, Walkers and even Barbers are frequently bought as "junk" silver I do some cherrypicking at work.

Stuff walks in the door, crank it through the counter if there's enough (like yesterday) and make an offer. If it gets slow enought I will spot check larger batches.

Yesterday I bought a 37-D Walker from the boss. He made money off of me, I got it well under bid. I know what he paid for it because I bought the collection for him.

I believe silver will go back up in the fairly near future so the junk is junk but in large lots there can be some cherrypicking done as well. Always nice to find a few "numismatic" tidbits in "junk".

 

That's kind of what I'm thinking. It doesn't seem that metal prices actually have much impact on the value of collectible coins. The more common coins, sure they will move with the price of metal...and since metal is down now, I say buy.

 

The international situation has cooled down, oil prices are down and dollar is up ( http://www.bloomberg.com/apps/news?pid=20601087&sid=aQIeZEyQjwII&refer=home ). I am not really sure why you see silver going back up

 

You "buyers" mind telling us specifically what silver coins you're buying and from where?

 

I buy Walking Liberty halves, Franklin halves, American Silver Eagles, Morgans. I get them from....local coin dealer, flea markets, classified ads on forums such as this one. I never buy on Ebay. and I am an investor/collector....investing in my grandkids future and collecting for myself.

 

I'm watching some big auction houses to check out two things. Of course individual coin prices but also the sum total of the auction. Is it possible the big auctions are a little smaller ? Maybe fewer total coins ?

I think high end coins are selling as well as ever. It might be more difficult to sell mediocre minus stuff.

 

I have to agree. And even though silver and gold have fallen market-wise, their bullion counterparts have remained well above spot due to a lack of supply. As far as rare coins, I think the market is as strong, if not stronger than ever. I suppose it depends on what you're buying....bullion or coins.
Guy~

 

Really a shop near me has plenty of junk silver dollars at $17 each where are you guys getting all this " cheap " silver .
rzage

 

Blue Angel, thank you!

 

As I stated before, my dealer adjusts the price on his "junk" silver coins almost daily. So that's what I buy... walkers, mercs, standing liberty quarters and Morgan dollars. But I can't bring myself to call it junk, I just love those old worn out coins too much. They remind me of the coins I had in those old Whitman folders back in the 50's. My fellow collectors and I didn't worry much about grade back then (and we really didn't care... just wanted to fill all those empty spaces), and I don't worry much about it now either.

 

I've been to several places around the area. 12.50 to 15 is the going rate I've seen. No more.

That being said, I passed up a nicely toned 10 oz. Johnson Matthey bar for 110.00 the other day, just because it's hidden and I think I can come back and get it for even less. You won't see that price on ebay any time soon though.