Even Coin Collectors Have Given Up On Gold

https://finance.yahoo.com/news/gold-coin-market-vanishing-u-052036235.html

Even Coin Collectors Have Given Up on Gold
Finding bullish gold investors is getting a lot harder, even in a place where demand has been almost a given in recent years: precious-metal coins.

Customers who were buying even as gold began slumping in 2013 are now so scarce at the Bullion Trading LLC shop in New York that owner Isaac Kahan says sales in May tumbled 35 percent. Purchases of American Eagle gold coins from the U.S. Mint, the world’s largest, were the weakest for the month in eight years. And global coin demand this year probably will slump to the lowest since 2008, TD Securities Inc. predicts.
.....continue


Even quoting the source, do not copy/paste the entire article. If people are interested , they will go to the source.

 

Log in or Sign up to hide this ad.

Ahem.

STRONG HANDS! WORK THE AVERAGE! SHINY!!!

There. That should tide us over until our regularly scheduled commentator returns.

 

7 years ago was 2007...hmmmm

 

Different timezone where you are?

 

I'm not a bullion investor but over the past 24 months I assembled a modest BU 12-piece gold coin type set, and added few others that I liked, at sharply reduced prices. I think this price slump is great because it allows an "everyman" collector to add some truly beautiful coins to his or her collection. Will the gold price go up? Yup. When? No clue whatsoever. But I suspect at these lows, I'm pretty sure I won't lose money.

 

"Given up" sounds pretty strong when all of the mints around the world still are churning out coins. Shake out of the ambulance chasers maybe. I for one am upping my purchases somewhat. Not going crazy, but I always prefer to buy when the market is either ignored or is down.

 

This is the first year, since 2008, that I bought any gold. I didn't have the budget for it especially after gold prices started going up to over $2000. Now that prices have come down I ended up by 4 1 oz foreign bullion gold coins. If the value of gold stays close to this year's I'll probably buy a similar amount next year. Not a huge volume but I'm more bullish on buying gold and silver while the prices are down. IMO it's a good buying opportunity.

 

Same here. I've been able to pick up some stunning gold types this year at reasonable prices; all coins I had previously written off due to the inflated price of gold.

 

I still buy gold when I get the chance. I've picked up more this year due to price, than in the past.

 

Gotta agree with everything above. Also, I am certain the price will go up and if it don't I'll be ok. It's not like I invest my life savings or anything.

 

He's probably not competitive with the online dealer pricing. Retail buying has slumped though, possibly a good indication that a low is here or close by.

 

I don't know, that's only one writer's opinion. Gold coins on ebay seem to be doing pretty well, at least for pre-33 gold. Right now's the time to buy, especially modern gold, you can get some really sweet deals. Just bought this one last week. No regrets.

 

Nice looking coin.

 

Looks like Europeans are buying though, in response to Greece:

http://www.bloomberg.com/news/articles/2015-06-29/greece-crisis-a-disastrous-weekend-in-five-charts

 

Gold looks nice. But I'd always be afraid of the coins' authenticity, after reading through some of the recent posts on cointalk. :/

 

If you're buying from reputable dealers I think, 99.9% of the time, you'll be alright

 

Are you talking numismatics or bullion ? If the former, just be careful. If the latter, just deal with someone reputable the incidences of fraud are much less with bullion.

It's not as profitable to scam with pure metal.

 

Today gold is trading about the same price per oz is it did 5 years ago - - $1147. Looking at long and short term trend charts, it looks like it may not have bottomed out. But who the heck knows. Hoping to look at a few more MS $3 pieces, maybe prices have dipped a bit.