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Can buying older gold get you closer to spot?
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<p>[QUOTE="doug5353, post: 2079867, member: 73555"]Near-spot and numismatic-value, you can't have it both ways. If the price of gold goes up, the premium gets smaller and smaller. This is why during silver's last big run-up, common proof sets disappeared from the marketplace, as both dealers and collectors cheerfully broke them up for their (pre-1965) 85 cents face value in 90% silver, and thus you could buy proof Lincolns and Jeffersons by the roll.</p><p><br /></p><p>If you pay any meaningful premium for old U.S. gold now, you will be defeating your purpose, as when bullion coins increase, at some point your U.S. gold will bring only bullion price. That's not to say you might not find a MS-66 double eagle out in the marketplace, but it would need to be slabbed, and if the seller paid to have it graded, he wants to recover his costs, and you're right back to a bigger premium again. The bullion I've bought consists of 98% silver dimes and 2% gold, absolutely no platinum or palladium, thanks. Yes, they are a pain to store, and they're very boring...</p><p><br /></p><p>On the other hand, buying only dimes has let me assemble a nice set of Mercuries, now missing only 3 coins, and with 20+ AU-BU sliders after 1936.[/QUOTE]</p><p><br /></p>
[QUOTE="doug5353, post: 2079867, member: 73555"]Near-spot and numismatic-value, you can't have it both ways. If the price of gold goes up, the premium gets smaller and smaller. This is why during silver's last big run-up, common proof sets disappeared from the marketplace, as both dealers and collectors cheerfully broke them up for their (pre-1965) 85 cents face value in 90% silver, and thus you could buy proof Lincolns and Jeffersons by the roll. If you pay any meaningful premium for old U.S. gold now, you will be defeating your purpose, as when bullion coins increase, at some point your U.S. gold will bring only bullion price. That's not to say you might not find a MS-66 double eagle out in the marketplace, but it would need to be slabbed, and if the seller paid to have it graded, he wants to recover his costs, and you're right back to a bigger premium again. The bullion I've bought consists of 98% silver dimes and 2% gold, absolutely no platinum or palladium, thanks. Yes, they are a pain to store, and they're very boring... On the other hand, buying only dimes has let me assemble a nice set of Mercuries, now missing only 3 coins, and with 20+ AU-BU sliders after 1936.[/QUOTE]
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