Why has my classic coin dropped in value?????

That's not entirely true. Some industries purchase gold to use in their products, e.g. jewelry and computers.

 

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Sell the Indian, and buy a 1889 CC Morgan. The value ofthia coin will continue to go up. It's fair to say vg-8 and g-4 will reach $1000.

 

Granted ! But the amount required is not enough to provide the demand required to stabilize the market. If it were, then price would more closely follow production costs. Today gold prices are well above that. Mines here in Nevada have stepped up production, and that alone would place downward pressure on the pricing if it was a significant factor. Gold as Jewelry is still a Luxury Commodity. Once gold is placed in the market place it stays there. Not like oil or corn which is consumed and must be replenished. The amount used by the computer and other industries is not enough to drive the market. Like the silver in photo processing. It's just not enough of a percentage of the market, IMHO

gary

 

The price premiums (over their bullion content) for MS63 $10 Indians and other gold type coins can fluctuate dramatically. Until a couple of months ago, some of the premiums were quite high, and they have now declined to more normal levels.

 

Gold has been mined a long time....yet mining companies are increasing production and companies are recycling gold from electronics. Even after all of this gold has increased in value since it became a traded commodity. Since gold is a commodity that doesn't get used up wouldn't there be an excess of gold in the marketplace causing the value to instead decrease over time?

 

because stupid folks are out there buying up all of those 'rare' MS-69 & MS-70 2010 coins!

So they have no money left.

 

Gold is nowhere near its all time high when you take inflation into account. It would have to reach in excess of $2000/oz. on that basis.

And when the economy improves, there is an excellent chance that inflation will increase significantly - that often leads to increases in the price of gold and other tangible assets.

 

I'm not a huge fan of George Soros either, but I would not call him a Wacko Steve Eisman is certainly not a wacko either. Just saying, it's high now and some times there is a very good reason.

 

I'm a contrarian. Too many people are buying now. I therefore sold all my gold and much of my bulk silver. Only time will tell if that was shrewd or idiotic.