Hi guys, I was wondering if the value of gold being so high lately has an impact on the value of other coins. I have a modest collection of gold coins and have been considering if I should sell it now. Most of the coins do not have much numismatic value, mostly just bullion value. If I sell now, theoretically I should be able to buy them back at a lower price if/when the price of gold goes back down. The problem that I would have if I sold my gold collection is that I would have to find another type of coin to collect. I've kind of had an interest in the collonials lately. However, if the price of gold is affecting the price of other coins too much, then perhaps I need to find something else to collect. Any thoughts? Thanks! -StephenS
Question is, why do you think it will go down and not up? Most people only fear it will go up because China and India will keep on hoarding as well as the mining production isn't just keeping up with the demand coupled with the issue that gas prices refuses to go down which affects the mining operation costs.
Opinions are worth what you pay for them. My [free] opinion is that it's too early to sell gold, and that it could go higher than almost anyone currently expects. I think it's a pretty low probability bet to expect the price to drop back to something like $400 or less. But I think you are correct that the price of other coins are either being affected by gold, or that gold and other coins are being affected by other forces. If you are tired of the gold coins, anything silver might be a good substitute. Colonials are probably good too, and the value should keep up with inflation over time. If you trade the gold for something you like better, you can hardly go wrong.
If you really need money for the colonial coins, maybe just sell some of your gold? I wouldn't recommend selling your gold, though. Gold is gold. Keep it and save up some cash on the side to buy other stuff.
