Should You Buy Gold or Silver?? Coin Shop Owner's Advice!

Discussion in 'Bullion Investing' started by fretboard, Dec 2, 2021.

  1. fretboard

    fretboard Defender of Old Coinage!

    Not a great time to buy at all, not for me anyways! :D The guy in the video says if you have $2000 to $2300 then you can buy a 1 ounce American Gold Eagle or a Saint Gaudens, which is okay but not for me!! I'm not paying that much money for an ounce of gold especially not right now! Don't get me wrong, I've overpaid before but never for an ounce of gold! How about you, are we facing a big enough dip for you to shell out the bucks?? You buying silver or gold today??

    MIGuy and Eric the Red like this.
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  3. masterswimmer

    masterswimmer Well-Known Member

    I'm buying neither at these prices.
    Waaaay too inflated for my comfort level.

    Spot gold no higher than $1,200.
    Spot silver no higher than $16.

    If they never retreat to those levels in my lifetime I'm fine with that too. I've got all I want/need already.
  4. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    Given the huge increase in the money supply as of late, coupled with a looming demographic pension/healthcare crunch, I doubt that those lows will be reached again anytime soon.
  5. imrich

    imrich Supporter! Supporter

    Just a few minutes ago I finalized a difficult acquisition of a 1926 PCGS MS64 PQ Double Eagle for $2235 from a very prominent facility.

    From my experience, this coin will surely receive a green CAC bean. There is only one non-"PQ" comp. coin listed on eBay advanced past sales, which looks as if it has seen some VERY abrasive handling:

    It was the best coin in his listed inventory, which the average buyer wouldn't normally recognize.

    I'm very pleased that the majority of collectors avoid seldom seen relatively scarce Gold coins as this which I had previously offered to purchase for ~$100 more, before the greedy dealer increased the price.

    I agree with David that some of these coins are priced too low. I'm a buyer of value coins!

    Last edited: Dec 2, 2021
    MIGuy and AdamL like this.
  6. masterswimmer

    masterswimmer Well-Known Member

    I'll reiterate:

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  7. FryDaddyJr

    FryDaddyJr Junior Member

    some people don't need to buy any more. one dealer made a video, most people buy and never sell. he buys estates. in other words "your precious" after you croak.
    I plant to sell in my mid-late 60s
    KeyHunter and masterswimmer like this.
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I buy and sell all of the time . . . :)
    fretboard likes this.
  9. fretboard

    fretboard Defender of Old Coinage!

    Yes, nice price for the grade for sure! I've never bought a graded double eagle but I may, just never ran across one yet! :cigar:
  10. FryDaddyJr

    FryDaddyJr Junior Member

    I wasn't asking for your feedback, just telling you what one dealer said..."MOST" doesn't mean all if you actually look up the definition.
  11. ldhair

    ldhair Clean Supporter

    I don't think it's a great time to buy bullion because I have what I want put away. I would buy a nice high grade example of an older gold coin but not as an investment.
    FryDaddyJr likes this.
  12. FryDaddyJr

    FryDaddyJr Junior Member

    I'd like to get a reverse proof gold buffalo, even if slabbed
  13. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Have put Silver on the back burner for now, have been buying allot of Gold in the
    past year do to some big BTC numbers :) waiting for another Krugerrand in the mail today :)
    fretboard likes this.
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    Am I buying? Not at these prices and then look at the current history. It’s still a declining market for the PM’s and inflation tends to make them increase but they’re not. I’m patient and I’m waiting and watching. You can’t buy at its lowest point. Neither can you sell at its highest point.
    FryDaddyJr likes this.
  15. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    The problem with that theory, is how long are you willing to wait ? were not getting any younger my focus right now is building wealth thru my BTC holdings and transferring my gains to physical Gold, BTC is way down at the moment, so looking good :)
  16. Collecting Nut

    Collecting Nut Borderline Hoarder

    I can wait as long as it takes. I have everything I need and more. :)
    fretboard likes this.
  17. Phil's Coins

    Phil's Coins Well-Known Member

    I do not purchase from LCD's, I receive calls from individuals that have been referred to me by my clients. I treat them fairly, tell them what the coins are worth at the time and how much I am willing to pay them and let them make up their minds. I have been very fortunate that the market is down (depending on the day) and have acquired (in my wifes words "you spent what") a sizeable of gold and silver.
    Semper Fi
  18. chascat

    chascat Well-Known Member

    I agree with you, but I would pay a tad bit more and be happy.
  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    That’s the problem, it’s never enough, especially now a days a good RN registered nurse in a medium to big
    city makes roughly about $50 HR
    with a 4 year degree, I saw a sign
    hiring a dishwasher for $30, suddenly
    that $50 an hour doesn’t look that
    hot, so just when you think you got
    to much you can always send more
    my way…LOL
  20. Jim Dale

    Jim Dale Well-Known Member

    About 12 years ago, I inherited half of my father's coin collection. Most of them were in boxes, sorted by type. There were some nice coins, but nothing graded and nothing in 2X2s. However, when I started going through them, I got the collecting "bug". Anyway, I went to a coin shop and saw several gold coins. I bought a Raw 1904 Liberty Double Eagle ($1200) and an 1895 Liberty Eagle ($600). About a month later, I bought the 2009 W Ultra High Relief Gold coin that had been graded. I got it for about $1,200. I thought it was a nice buy. I mentioned it a few years ago and I was asked what it graded at. I looked at it and found it had been graded by PCGS MS68. I thought it was a good graded until I looked for another MS68 and finally found that there were a few listed by PCGS. I have the shipping box and the wood box it came from the Mint in. When I mentioned it, I was told I would not get much more for what I paid for should I sell it. I really felt taken and dumb, but I still have the coin and will probably never sell it because I like it.
    fretboard likes this.
  21. imrich

    imrich Supporter! Supporter

    I believe whoever quoted you a purchase price was "biased". I paid anyone who would order for me a 10% premium to get the coin for me, besides my only allowed single item order. I've never ordered another coin from the U.S. Mint, as I believe they're "gouging".

    Here's a current eBay sale of that coin:

    I have many of that coin, graded and not, believed never acquiring for less than twice your stated purchase price.

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