Gold is up 1.07% just for today so far/ 5.96% for the month 13.97% for the year As per one of the leading numismatic newspapers pre1933 gold coins in common dates are sizzling in MS-62 & higher grades. Cant mention the newspaper and I cant mention the top 3 internet sites that just cant keep these coins on the shelves I see this sector appreciating nicely in 2005 and beyond. Please someone weigh in on my thoughts.........? Thanks for letting me share I wont post again until gold hits 500.
Well there is always two sides to any story. While there are 8 issues of gold receiving higher standard bids, there are 17 issues of gold coins. The highest gains are MS-64 and better. Once again, common gold trades near melt value. Always have, always will. I have heard many claims that dealers are having difficulties in keeping gold. Not sure what "Little" dealers they are referring to. Attend any show and you will find thousands of gold coins on the floor.
Doesn't this post properly belong in an investment advice forum instead of this one? I just don't see any connection between coin collecting and bullion investing.
Sylvester's words of wisdom; 'You can collect and invest at the same time, but you're a good un if you can succeed at both simulanteously. One will naturally take precedence to the limitation of the other.'
From my perspective, I wouldnt say that common gold is SIZZLING... there is some interest. But there always is if you offer gold, or commems, or type coins or dollars at current levels. Beware the promotion!
Here is an interesting article from CoinWorld. I can't get the link to work. Check out http://coinworld.com and look for the link that starts as circulated coin prices rising. Look for the article on common date gold. Most of this "investment" thinking and high hope prices have been coming from Richard Russell, editor of Dow Theory Letters. Now this individual is not a coin person. He does not recommend gold coins. His writings are based on spot metals. I hope that the members here will focus their efforts into coins. Leave the investing to Wall Street.
Most of what I've read says that the current coin "bull" market is collector driven. If "investors" have taken notice of the current coin market and are begining to jump in with both feet, looking for the deals in common gold or whatever, then Katy bar the door. Anything can happen and has happened before.
"Doesn't this post properly belong in an investment advice forum instead of this one? I just don't see any connection between coin collecting and bullion investing". Roy. __________________ One can collect gold coins for bullion value and still appreciate the artistic beauty of the gold coin as well. I for one collect gold coins for both and for collector value. After all, if I was only interested in gold, then I would only buy my wife the chains and be ahead that way as well. Now am I a pure collector as you are, of course not nor am I as an educated collector as you but I still consider myself a collector and collectors like me and coinfreak help keep the hobby alive and perhaps drive the prices up as well.
The economist in me tends to say that the only difference between an investor and a collector is a factor of utility. Investors are (or should be) heavily influenced by the market... that is to say, most people who watch gold right now with an investment eye are probably not buying (unless they are very optomistic). Even collectors are influenced by market swing, but it generally seems to require a much more dramatic swing before the collector's buying and trading habits are influenced - but the influence is still there... so sayeth the war nickels that didn't survive the 80s. The difference is that the collector cares for a piece because of the personal value, where the investor would be wise to never grow attached to any piece in their possession. This, of course, is only true for those coins with silver or gold content.
For every person you can find who is hyping up gold - you can find 3 more who are advising against it. Now does that sound strange coming from me ? A person who specializes in collecting gold coins ? To me it doesn't - it makes perfect sense. That's because I am also an investor - but not an investor in gold coins. I was for a while - but I also bought most of my gold when it was below $300/oz. It's all sold now and I'm quite happy that it is. But I am still buying gold coins - just not ones I intend to sell. That's because I am a collector of them - not an investor. Gold is just a commodity - just like any other commodity. It's no different than oil, soy beans or pork bellies. The price goes up - the price goes down. And right now the price of gold is going up for one reason - because the US dollar is going down. In other nations - the price of gold isn't rising - at least not much. It has remained nearly static for the past 3 yrs. It is only in the USA that the price of gold is going up. Now it may continue to go up - or it may change at the drop of a hat and go down. It depends on many things. But if you really want to invest in gold - don't buy coins - buy gold stocks. For when gold drops, and it will, the stocks drop much more slowly than the metal does. And this will give you a chance to get out. Now go collect some coins
GD made alot of sense with what he stated. Especially when one saw how Europe was dumping alot of their gold reserve over the past five years. In this country I never heard of anyone stating that one should invest more then 10% of thier "investment based money" into gold as well. Gold is something that is good to have but not to go overboard with. However, the standard with investing in gold outside of the Western World is that it is a long term investment against run away inflation, famine, war, and politically upheaval. It is not uncommon for a family to never sell off their gold, if the need is not there, but instead pass it to the next generation within the family unit. Gold stock, and we are not talking about Canadian mines, may be good if you are a buyer/seller of gold based upon the market price but if you hold gold for the unforseen disaster, then the coin is the best way to go for you have control of it and if you buy in cash their will never be a record of ownership which makes it easier to hide/or pass down. Now if gold continues to soar, the question is will that make collectable coins more collectable in the long run if a melt down takes affect and decreases the supply of what was once considered not highly valued gold coins based upon grade or quantity.
