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<p>[QUOTE="-jeffB, post: 3048637, member: 27832"]This directly contradicts what we saw in 1980 and in 2011. In both cases, the rising price of silver and gold <i>erased</i> numismatic premiums. In 1980, so I'm told, bags and bags of uncirculated Morgans went into the smelters. In 2011, I was buying regrettable amounts of silver near melt -- but "near melt" was getting me AU Walkers, better-than average Barber halves, and BU Mercury dimes.</p><p><br /></p><p>I bought an uncirculated Jane Pierce First Spouse gold half-ounce from the Mint. Total mintage was barely over 3000. It was worth more than I paid almost immediately, but only because gold went up so sharply -- and now, it's worth well under what I paid.</p><p><br /></p><p>Buying numismatically rarer or better stuff is a hedge against <i>falling</i>, not rising, PM prices. But if you're <i>paying</i> a numismatic premium, you're already losing.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 3048637, member: 27832"]This directly contradicts what we saw in 1980 and in 2011. In both cases, the rising price of silver and gold [I]erased[/I] numismatic premiums. In 1980, so I'm told, bags and bags of uncirculated Morgans went into the smelters. In 2011, I was buying regrettable amounts of silver near melt -- but "near melt" was getting me AU Walkers, better-than average Barber halves, and BU Mercury dimes. I bought an uncirculated Jane Pierce First Spouse gold half-ounce from the Mint. Total mintage was barely over 3000. It was worth more than I paid almost immediately, but only because gold went up so sharply -- and now, it's worth well under what I paid. Buying numismatically rarer or better stuff is a hedge against [I]falling[/I], not rising, PM prices. But if you're [I]paying[/I] a numismatic premium, you're already losing.[/QUOTE]
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