Local dealer's opinion on bullion vs collector coins
Posted: Fri Apr 15, 2011 3:15 pmI went to a local dealer shop to look through the foreign junk bin and overheard him telling another customer his opinion on buying bullion vs collectible coins.
He was telling the customer that the collector grade coin market isn't doing as well as the bullion market; they were specifically talking about PCGS graded Morgan CC dollars, etc and that is what this customer was looking to buy.
He told the customer his plans were to take his profits from bullion and put them all into collector coins; he was saying once bullion cools off that a lot of dealers will have junk coins while he will have the better slabbed collector coins.
I remember though this dealer telling me when gold hit $1k that it would fall back down to the $800s so I guess I should take what he says with a grain of salt
Just found what he was saying interesting; not sure if anyone agrees with him.
He was telling the customer that the collector grade coin market isn't doing as well as the bullion market; they were specifically talking about PCGS graded Morgan CC dollars, etc and that is what this customer was looking to buy.
He told the customer his plans were to take his profits from bullion and put them all into collector coins; he was saying once bullion cools off that a lot of dealers will have junk coins while he will have the better slabbed collector coins.
I remember though this dealer telling me when gold hit $1k that it would fall back down to the $800s so I guess I should take what he says with a grain of salt
Just found what he was saying interesting; not sure if anyone agrees with him.
