Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.
How much is the coin worth now?
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If you want to know the history, I have read that gold was not innately valuable to humans as some here assume. They were taught to value it, since its unique malleable qualities, along with its unique color and reflectiveness made it singularly attractive to early priests of various religions. Since the priests valued it, and accepted it as high value gifts to "the gods", lay people started valuing it. This information spread amongst adjoining populations, until the entire middle east valued gold highly. Then this same attraction to first priests, then rulers, spread throughout the known world, along with the "knowledge" that gold is both rare and very valuable. Rare and valuable begets valuable as long as massive new deposits are not found. Gold IS relatively rare in the earth.
This is how I have heard it explained from those who know more about the subject than I. The same books say that silver was never as demanded from priestly caste, since it was not a unique color and not as rare. Therefore, silver valuation was always tied more to functional value, as it is extremely useful in a wide variety of uses known to the ancients. Since both metals had "value" known to everyone, both were concentrate bits of wealth, both did not degrade easily over time, and both were very easy to strike, it is extremely logical they were the cornerstone of coinage as invented by the Lydians.
Just for the bullion value+ numismatic rarity+ its a perfect PROOF 70/ probably around $4K. But, I do not buy bullion coins/ only high quality/ rare gold coinage. Some of my Roman aurei contain only 5-7g. of gold/ but FDC examples like this one are 50-70K
Actually Silver is more than 30% more "shinny" than gold at most visible wavelengths. Jim
Maybe we should ask the Kardashians.
Yeah, that is always funny. PM people always rail that bankers are manipulating the PM market, yet scream when the CME lowers the ability for others to buy a lot more pm than cash they have. Which is it, should there only be manipulation on the side that increases prices?
BETTER CALL SOILED!
If economy enters recession gold and silver tend to fall, for a while, i.e. 2008
And then look what happened in 2011.
But for counterpoint, look at the recession that ran from 1987 to 1993, and what didn't happen to PM prices in its wake.
What did happen in 2011? The Great Recession was from Dec 2007–June 2009.
There was no recession from 1987-1993. There was a Black Monday in 1987 (Wall Street used too much leverage) but no recession.
I am using the definition of recession as two quarters of negative GDP growth.
Yes, that recession occurred during that period, and a few years later gold and silver soared to record highs. (Silver may not have broken the 1980 record; its 1980 inflation-adjusted price was certainly higher. But the 1979-1980 silver spike and crash was almost entirely due to actual market manipulation.)
I can't remember what I saw that led me to think there was a 1987-1993 recession. There was certainly a market crash in 1987, and there was (I believe) a recession from 1990-1993. That one, unlike the 2007-2009 recession, wasn't followed closely by a PM spike.
I just attended the ANA National Money Show this weekend. Our local chapter, the Georgia Numismatic Association (organized in 1964) had a booth. The period that you mentioned was the Hunt Brothers trying to corner the market (it didn't work out well for them).
Yep. Those were the particular pairs of hands doing the manipulation, and the kind of manipulation they were doing.
Funny how that manipulation was actually to drive the price of silver up, not down, isn't it? I mean, given the omnipresent grousing about Banksters and (((globalists))) and whatnot with their eeevil plots to keep the price of silver down?
Can we go to conspiracy prices of 1:5 (a Peace dollar is $5?).
I am wrong with an average of $12.50 with old coins while dealers today, at a National Coin Show, are at a higher prices (low price is $18 with most higher).
The dealers make the huge profits. (Just kidding).
I can't imagine anybody is willling to sell at below $17. But who knows? keeping eyes open!
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