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Message:: [QUOTE="johnmilton, post: 26572756, member: 101855"]I went to the Sarasota coin show yesterday. It was interesting to see how the numismatic gold coin market is going. The short answer is that it almost isn't. One dealer put it quite simply with respect to St. Gaudens $20 gold coins. If it's not graded MS-66, it's selling for bullion. I bought a couple gold coins, like lemming racing toward the cliff. The first one was this 1900 $5 gold in NGC MS-63. This piece was struck with somewhat worn dies, but is very high end for an MS-63. It the old days, it might have been cracked out, but it doesn't make any sense. It would have to get an MS-65, more like MS-66 to make the cost of doing that worth it. [ATTACH=full]1693171[/ATTACH] My second purchase was the 2007 Thomas Jefferson First Spouse $10 gold coin. I bought this piece for 1% over melt, actually a little less that that because the dealer knew me and gave me a break. This piece grabbed my interest back in 2007 because of Draped Bust design on the obverse. It has long been one of my favorites. Unfortunately the piece the mint sent was was infected with die polishing disease and looked awlful. I blew it off when bullion went up. This is the Uncirculated version. [ATTACH=full]1693172[/ATTACH] The same dealer was selling certified examples in "First Strike," MS or PR-70 holders for 2 and a half percent melt. Unfortunately this type was no among the pieces he had with him. Some people are happy about this situaiton with precious metals, but I am not. In the old days, a middle class collector could buy a common date $20 gold piece for type for anywhere from $400 a while ago to $1,600 later. Now you might buy it for melt or close to it, but it's over $4,000. The numismatic market for these coins is dead, unless incomes go way up, which would be driven by a lot of inflation, or the gold market collapses. Either way is ugly.[/QUOTE]

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