My 1 ounce pamp for?

Discussion in 'Bullion Investing' started by John baker, Sep 6, 2019.

  1. John baker

    John baker Member

    so I’m building up my coin collection. I’ve been offered 70 that’s right 70 Morgan’s my choice from a melt shop out of 200. Should I do it? Or I think I might just go crazy and just take every 4-25.00 graded coin he has just to have a ton of stuff instead. Or trade it for pre 64 silver coins ? Not really sure what to do.

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  3. You will be paying close to $22 per Morgan based on the current gold spot price. I would keep the gold. TC
    Randy Abercrombie and Mr. Flute like this.
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I agree with Topcatcoin. If the Morgans are at the melt shop then I would believe they aren't worth a premium.
    One Mans Trash likes this.
  5. rte

    rte Well-Known Member

    Current ratio is 80/1
    That's a nice gold bar, I'd hold out for .999 silver bars or rounds closer to the ratio.
    spirityoda likes this.
  6. WRSiegel

    WRSiegel Freshman

    I'd also recommend not taking a lot of lower price graded coins. In the long run, quality over quantity is how I approach my collecting.

  7. medoraman

    medoraman Supporter! Supporter

    Depends on the Morgans and your collecting goals to me. If you really want to get into Morgans, and they have a good selection of dates/MMs, I have no problem with you trading. To me you are holding bullion, but might want to collect coins. Bullion is simply another way of paying for the Morgans, just like cash.

    To me, what is the difference between trading your bullion for the Morgans and writing a check? So the real question would be do you wish to purchase 70 Morgans for your collection, and if so do you want THOSE 70 Morgans? How you pay for it is kind of irrelevant. You could turn around and buy another ounce of gold if you felt like it after the trade.
  8. Collecting Nut

    Collecting Nut Borderline Hoarder

    Why would you consider selling gold when it keeps rising in price?
  9. Chris11111952

    Chris11111952 New Member

    Heard this at my LCS the other day Metals take the elevator down and the stairs up
  10. -jeffB

    -jeffB Greshams LEO Supporter

    Would you rather sell an item after its price has gone up, or after its price has gone down? Because that's the only thing you can know about the price.

    You can expect that something going up in price will continue to go up. And it will, until it goes down.
    medoraman likes this.
  11. Nathan401

    Nathan401 Quis custodiet ipsos custodes? Supporter

    Sell high is the goal.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Mmmmaybe. But it's also possible that they were sold there by people who don't care about numismatics, to people who don't care about numismatics, and are therefore "unsearched".

    My local pawnshop is always putting out worn or damaged Morgans at a fixed price, the same whether they're VF or AG, 1921 or earlier. I picked up an 1895-O for a bit over $20, and flipped it for eight or nine times that.

    A "melt shop" might actually be better for cherry-picking. If they just chuck the coins into a bin, they're less likely to be picked over by other customers before you look at them.

    But if you aren't willing to take the time to pick through and spot better dates (or, if you can stand it, VAMs), I'd say it's not a good trade. An ounce of gold is worth a good bit more than 70 common Morgans.
  13. ewomack

    ewomack Senior Member Supporter

    Based on the post alone, I personally would keep the gold and seek out better coins elsewhere. Who knows what state "melt" Morgans are in? If they're cleaned, heavily worn, problem coins, etc,. then that trade definitely benefits the other guy. More info on the Morgans is needed, of course, but I would always hesitate to trade gold bullion (a "real" investment) for numismatic coins (not a "real" investment).
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    My point is that it's still going up and expected to do so.
    Yes so wait for it to go up more. It's seen a nice increase and it will probably drop s bit before going higher. Playing this type of market is not for the faint at heart.

    You guys sound like it's reached it high so sell all and wait for the price to drop to buy back. This is the time to hold or am I missing something?
  15. Mr. Flute

    Mr. Flute Well-Known Member

    ~$22 each for common Morgans, as others have said, is not a good swap.

    I'd be looking for not more than $16 per Morgan on a swap like this.

    Or I'd get the cash for the gold and use it to buy an actual scarce or rare collector coin.
    Randy Abercrombie likes this.
  16. -jeffB

    -jeffB Greshams LEO Supporter

    If I knew that, I'd be furiously typing on a broker's site, not here. :rolleyes:
    Nathan401 likes this.
  17. John baker

    John baker Member

    So I figure it like this I bought it at 1450.00.

    I will get to basically buy anything I want in the shop. The coins are actually in decent grade and has other stuff too. It’s gold it’s not like I can’t buy more! Plenty of it is out there all day long. Hell I have 5 ounce of scrap gold already in my son chest and will keep adding to it. His coin collection is huge already and some high end rare coins are in it to. I didn’t know this question would rattle up people. Actually I bet some people commenting about it don’t even have a ounce let alone a ounce that they really don’t care about and willing to trade for coins

    Also if I only find 20 good Morgan’s I’ll use the rest of the credit to get other Stuff. I’m not hurting for money l. I look at this bar as a gift Certificate I can use at any coin shop lol
    Last edited: Sep 6, 2019
  18. -jeffB

    -jeffB Greshams LEO Supporter

    So you think only people who happen to own something can have knowledge about it? Hmm. Makes me feel bad for all the astronomers out there. :rolleyes:
    TheFinn likes this.
  19. John baker

    John baker Member

    Talking about what one should do with something is more inclined to to listen to people who own said item or have experience with it. I don’t talk about coins that I never owned or probably not own. I let people who have the person experience and knowledge talk about it. Just my opinion

    You have 2 kinds of gold people

    1. The guy who sold a ton of his crap to buy a bar and prays that it rockets high so he can cash out

    2. The guy who buys gold because he can just to say hey look at my fun bars!!! Meaning they can sell them/ trade them and the next day buy another and not give a crap.
    Last edited: Sep 6, 2019
  20. John baker

    John baker Member

    By the way here’s my fun Morgan’s also

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  21. TheFinn

    TheFinn Well-Known Member

    Exactly! Walter Breen didn't collect coins, and you would be hard pressed to find anyone that comes close to knowing coins better than him.
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