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TRYING TO "Play the GSR" -- HORRIBLE IDEA
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<p>[QUOTE="Bman33, post: 2714798, member: 77126"]Here's a scenario that come up for me in regards to your ideas here. I was at a coin show three weeks ago. I have been wanting an 1885 CC Morgan in MS65 PCGS. I found it for $1,150. which is a little on the high side but still in the realm of me purchasing it. I ended up looking at it several times under a loupe, posted pictures of it here and people that responded said over graded do not buy. I followed their advice. Instead I bought my first Gold Buffalo for $1,315. I feel much more comfortable with my Gold Buffalo knowing I can sell it for $10-$20 over spot. If I bought the 85 CC I would have been hard pressed to sell it for $900 to a dealer and I don't know where I could find a consumer to buy it. The point is that even if the 85 CC was a true MS65 I don't think coins are equivalent to bullion as far as investments go. Finding a buyer or going to a dealer are not fun to try and get more money than what you paid for. I've heard it said on this message board to not expect to make money off coins if you are a collector. If you are a dealer or have access to wholesale pricing on coins or you score someone's collection at a low price then that is a different story. Not trying to shoot you down, maybe you have a system that works. I was just giving you my opinion.[/QUOTE]</p><p><br /></p>
[QUOTE="Bman33, post: 2714798, member: 77126"]Here's a scenario that come up for me in regards to your ideas here. I was at a coin show three weeks ago. I have been wanting an 1885 CC Morgan in MS65 PCGS. I found it for $1,150. which is a little on the high side but still in the realm of me purchasing it. I ended up looking at it several times under a loupe, posted pictures of it here and people that responded said over graded do not buy. I followed their advice. Instead I bought my first Gold Buffalo for $1,315. I feel much more comfortable with my Gold Buffalo knowing I can sell it for $10-$20 over spot. If I bought the 85 CC I would have been hard pressed to sell it for $900 to a dealer and I don't know where I could find a consumer to buy it. The point is that even if the 85 CC was a true MS65 I don't think coins are equivalent to bullion as far as investments go. Finding a buyer or going to a dealer are not fun to try and get more money than what you paid for. I've heard it said on this message board to not expect to make money off coins if you are a collector. If you are a dealer or have access to wholesale pricing on coins or you score someone's collection at a low price then that is a different story. Not trying to shoot you down, maybe you have a system that works. I was just giving you my opinion.[/QUOTE]
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TRYING TO "Play the GSR" -- HORRIBLE IDEA
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