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<p>[QUOTE=&quot;Juan Blanco, post: 1584682, member: 41665&quot;]APMEX lists bagged 90/10 junk, slabbed coins, and certified proof coins all as &quot;Bullion.&quot; Truer than many here realize LOL but there&#039;s <i>some </i>numismatic value in certain products, yet.</p><p><a href="http://www.apmex.com/Category/503/Silver.aspx" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.apmex.com/Category/503/Silver.aspx" rel="nofollow">http://www.apmex.com/Category/503/Silver.aspx</a></p><p><br /></p><p>fatima: I&#039;m happy to explain the difference between bullion and numismatic value to you! </p><p><br /></p><p>&#039;Bullion&#039; is ingot or coin sold at the lowest price to Spot, at purity. It&#039;s <i>value as a retail product </i>is effectively ASK, plus a dealer&#039;s transaction cost (first premium.) </p><p>&#039;Numismatic value&#039; (if, when &amp; where it exists) is <i>whatever <i>excess </i>value </i>or extra premium tacked on to the dealer&#039;s Bullion ASK, based on retail demand. </p><p><br /></p><p>Selling TO a dealer and adjusted to purity, there&#039;s NO NUMISMATIC VALUE if your coin is worth spot or less at market. It&#039;s irrelevant you imagined otherwise, or those coins DID once-upon-a-time... except to prove my point. As the OP said, his LCS is NOW SELLING &quot;a few rolls of 90% proof state quarters right from mint sets&quot; - that&#039;s a bullion-rate, apparently ~3.3% over POS 33.46 You should learn how to read. </p><p><br /></p><p>In fact, the &quot;numismatic value&quot; of those new proof coins has plunged from the US Mint &#039;collectors premium&#039; of ~18% in 2010, to ~5% (rolled &amp; sold, retail resale) in 2010, to about ~0% today. </p><p><a href="http://www.cointalk.com/t189818-47/#post1565629" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/t189818-47/#post1565629">http://www.cointalk.com/t189818-47/#post1565629</a></p><p><br /></p><p>At retail, there should always be a dealer&#039;s bullion premium; net that. But as more &amp; more &quot;numismatic moderns&quot; are marked to market - and eBay/PayPal and taxes get paid - Sellers/investors can already grasp how most Ag &amp; Au &#039;coin value&#039; has plunged towards that stark blunt reality, the bullion rate. This trend isn&#039;t reversing anytime soon, since the Greater Fool&#039;s been played. </p><p><br /></p><p>For most coins, 2008 was the numismatic peak in adjusted-USD. Today, smart bullion buyers look to buy coins &amp; ingot alike, for the lowest premiums, on any sharp dips (-10% to -15%, or more.) Stick with reputable LCS, I think: solid relationships have real value too!</p><p><br /></p><p>In modern US (Ag &amp; Au) coins, avg retail premiums have never gotten this low. I&#039;m convinced premiums must rise on price-volatility, but that will be a function of BULLION-price <u>not</u> &quot;numismatic value.&quot; As so-called &quot;numismatic value&quot; continues to erode with Boomer liquidation, more modern collectors will understand that most coin-valuation was grossly inflated, largely a chimera, and wishful thinking. </p><p><br /></p><p>US Mint Sets aren&#039;t &quot;free money&quot; either <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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