Investors - LOOK HERE

150 years? hey don't be hating against key date wheats.

 

Log in or Sign up to hide this ad.

Well sorry to inform you, but ebay doesnt set the market for these coins. That price is not according to some personal seller on ebay, but to a company known as Professional Coin Grading Service aka PCGS (you may have heard of them). Anyways, we are doing buy backs on that coins from our client at 3000 dollars. And modern coins show returns to. Its a common misconception that old coins are sooo sooo rare. Yes some are, but then again with the mint does a 3 day mint on a coin, they are just as rare. You will one day understand that its not the date of the coin, but the quantity in existence. I study this market 10 hrs a day and know what it does. Its my job, and I do it to make my clients money. Update - I have never lost a client well correction I have lost 7 - due to death.

 

I guess some people just are one minded. I said gold crash due to cooking the books or sex scandals. And ya Gold did fall greatly then, but then again it was still worth money. Unlike, ohh ya ENRON?

 

Ok, let me clarify... I wouldn't spend %10 of my portfolio on key date wheat cents as strictly an investment vehicle.

 

Might play a role in it, but limited quantity does not make a valuable coin; demand does.

 

I dont blame you. You guys must not be following me. I am a floor manager for an investment company dealing in precious metals. I am not talking about any wheat pennies or mint sets. I simply put my clients into coins that move such as plat eagles, gold eagles, silver eagles, indians, commems, and libs. But when I release a 2010 SAE Ms70 ER for 90 bux and people are getting 160 - 200 all day long for them, how is that not a return? And C+G coins have a far more secure market that bullion.

 

True, but America is fueled by supply and demand. And we all know, 90% of americans want what they cant have. Im not puttin my clients into some foreign coin that only has a population of 1000 coins this year but has not done well in the past. I study the market. I put my clients into coins that are popular, thus the supply and demand will be there. For example, the 25$ gold Eagles are always the lowest minted, and on every price chart they have a green up arrow beside them. I dont find that to be a coincidence.

 

You mean an ASE MS70 which costs $30 and you're selling for $90? Is that what you're saying?

 

PCGS price guide is not always the going rate at all. It is more like a insurance value. 1900 bucks is much more realistic than 3000, IMO. I am not saying invest 10% of your portfolio in Key date wheats but they certainly are more stable than what is on todays plate, IMO.

 

fretboard, tell me where you get MS70 ASE for $30. Thats what MS69s sell for.

 

I have handled coins that have had mintage's of less then 20 coins TOTAL, not to mention they were minted in the 1830's. A proof capped bust half dollar was the last coin that comes to mind. I am well aware that value is directly related to the quantity in existence. Name me one coin minted by the modern US mint that has a mintage of 20 coins. Their aren't any. 200? 2000? Their aren't any. Note I said total mintage's and not populations. I doubt there are any too many modern bullion pieces that have populations of 20 in a grade let alone mintage's.

Just out of curiosity what do you pay your non clients for 2008 MS70 First Strike Buffalo's? and How many do you want???

I also wasn't aware that PCGS was a buyer or seller of coins... and the numbers PCGS publishes are a price GUIDE... They made this very clear at the last PCGS luncheon... Were you there? That being the case how do they make a market in something they don't trade??? This coin was just TRADED at $1,975. It sold in the market for that price. That is it's market value. It's odd that I have to explain this to a floor manager of an investment company.

 

Honestly, I could not care less that coins are a good or a bad investment. I don't collect artificial designations on pieces of plastic, I collect coins, coins with history. More than that, its MY job to study them and know them, not only the history behind them but their current market value. Let me tell you, there's no convenient sheet listing all the values of these coins.

So, go play with your plastic. Maybe when you turn your profit you can check out some real coins.

Roman Empire, Septimius Severus denarius, 202-210 AD

 

Yep. agree completely. it even says PCGS PRICE GUIDE. Not what we will pay you for it at any given moment. There was a buyback, but wasn't that abolished?

 

You may find that more realistic but we are doing buy backs on that coin at 3000 dollars. Thats what we pay clients for them, and non-clients maybe 2900. We realease that coin at about 3400. And I am not referring to total minted, im talking about population in grades. Thats what I focus on

 

Anyone want to make some free money??? I would let you pay me $2,900 for $2,000 coins alllll day. You should definitely post a buy list in the open section.

 

I got a steel bridge for sale. Anyone ?????? Oh wait, if I did that I'd have to get some new teeth. Forget that!

 

So, I could buy one on ebay for 2k and sell it to you for nearly 3k. Maybe you should be buying them up on ebay.

 

I want in on this action also. Is that a firm offer to buy for $2900?

 

Thats simply what an investment is. Just because some people think the only market for coins is ebay doesnt mean they are correct. We do buy backs according to a few price guides. Its not like we are going to buy a coin for 2900 that one may believe is worth 2000 and eat it. We have buyers waiting in line for those coins. But besides the fact, if I sell you a coin at 100 bucks and buy it back 9months later for 180, wouldnt that be an investment. And oh ya, your gonna do business with me again.

 

I think coins can be a decent investment provided that:

1. You know enough about them to avoid problem coins.
2. You don't buy them after a huge run-up in price [people who bought gold coins at $400 will do better than those who bought at $1200]
3. You are willing to hold them for a very long time.
4. You know how and where to sell them when the time comes and aren't forced to liquidate at an unfavorable time.