Discussion in 'US Coins Forum' started by Derek2200, May 14, 2020.
High pop numismatic coins most vulnerable or will big ticket fall more?
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Many people, in times of uncertainty, turn to PMs as a safe hold for the future.
But then again, there's no explaining human nature.
I don't think the folks getting laid off for the most part are the ones big into coin buying or participating in Ebay or HA or GC or Stacks auctions.
Also, prices were FALLING for years before this economic downturn.
That said....I don't know where the next $150 move in gold is, up or down....but I am pretty confident that the next $1,000 move is UP.
Buy your MS65 Saint commons for $2,000 or so now, rather than pay up $3,500 in a few years.
I've bid on a number of items but have won no major lots in 2020 or possibly even in 2019.
I'd love to be able to buy an MS-65 Saint but the problem is that if I buy a sight-unseen one, then I'd get the most wretched, awful coin that some grade flipper bought as an ms-62 and then luckily flipped into a 65 holder. I guess every person with an extra billion or so in cash are socking away rare coins? Who knows when prices will come down.
@GoldFinger1969: There's an ad in the WSJ today for 1908 No Motto BU Saints for $1875 each, limit 1. Of course, you'll have to spend 30 minutes on the phone with them while they try to upsell you.
Rich folks are still buying. "joe Six-Pack" has been on the sidelines for a while. If the stock market takes another nose dive and it sticks, you will see the coin market go down big time. I'll be joining the exit because I will have been hurt too.
It certainly was before this, that may be true now to an extent
Should precious metals prices rise, I would expect that to be a panacea for the supply of bullion-tied coins like Saints and Morgans.
But wheat pennies and Franklins and Quarters won't benefit, no.
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