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Should I start buying coins instead when bullion prices are high?
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<p>[QUOTE="John Burgess, post: 7418973, member: 105098"]PMs are PMs. Coins are coins.</p><p><br /></p><p>It's not similar markets at all. You buy and hold PMs waiting for the price to increase to generate a profit and sell. There's a buyer waiting always. In a sense more like selling a stock.</p><p><br /></p><p>With coins its a different game. In a sense it's more like selling a used car.</p><p><br /></p><p>With coins there's a lot more wiggle room with subjectivity and a discerning buyer.</p><p>I don't recommend coins as an investment or for savings for this reason. I recommend them for personal collecting and enjoyment, not a value or profit.</p><p><br /></p><p>If you trust your ability to detect fakes you can still find deals on constitutional silver and gold at pawn shops and stuff without the markups to add to your stack. Not numismatically valuable coins but bullion valued coins. You'd need to do the footwork and steer clear of the "bullion dealers" but there's stuff in shops all over, shops that aren't playing the bullion market game, sitting on stale inventory they'd be willing to let go for spot or melt. You just have to do the grind to find it, you won't get it from JM bullion or APMEX or your local "we buy gold and silver" shops. They all will have the premium on it.</p><p><br /></p><p>I hope I gave you an idea of a plan of attack.</p><p><br /></p><p>I don't really recommend ebay as you have to trust a lot more and won't have the coins in hand to check out before purchasing but deals exist there also without the heavy overhead on them. It's just more sketchy and more chance of picking up a fake. Vs. Being able to check it yourself before buying it.</p><p><br /></p><p>About the only numismatic coins that really hold their value are the expensive "king" coins. Those coins that people are waiting for to appear on the market for their own collections.The key dates or condition rarities that trade easily, and even then there some play in the prices that can have you taking a loss when you go to sell.[/QUOTE]</p><p><br /></p>
[QUOTE="John Burgess, post: 7418973, member: 105098"]PMs are PMs. Coins are coins. It's not similar markets at all. You buy and hold PMs waiting for the price to increase to generate a profit and sell. There's a buyer waiting always. In a sense more like selling a stock. With coins its a different game. In a sense it's more like selling a used car. With coins there's a lot more wiggle room with subjectivity and a discerning buyer. I don't recommend coins as an investment or for savings for this reason. I recommend them for personal collecting and enjoyment, not a value or profit. If you trust your ability to detect fakes you can still find deals on constitutional silver and gold at pawn shops and stuff without the markups to add to your stack. Not numismatically valuable coins but bullion valued coins. You'd need to do the footwork and steer clear of the "bullion dealers" but there's stuff in shops all over, shops that aren't playing the bullion market game, sitting on stale inventory they'd be willing to let go for spot or melt. You just have to do the grind to find it, you won't get it from JM bullion or APMEX or your local "we buy gold and silver" shops. They all will have the premium on it. I hope I gave you an idea of a plan of attack. I don't really recommend ebay as you have to trust a lot more and won't have the coins in hand to check out before purchasing but deals exist there also without the heavy overhead on them. It's just more sketchy and more chance of picking up a fake. Vs. Being able to check it yourself before buying it. About the only numismatic coins that really hold their value are the expensive "king" coins. Those coins that people are waiting for to appear on the market for their own collections.The key dates or condition rarities that trade easily, and even then there some play in the prices that can have you taking a loss when you go to sell.[/QUOTE]
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