So I visited a "we buy gold" kiosk at the mall today

[Cu Penny Hoarder]

20% or so below spot?

Do you think that most companies for-profit have a 20% margin on goods? Heck no , 100% , 200% , 300% or so. If you're upset about 20% or so ,go try a jewelers, they would have offered you 50% of spot.

Why the attitude? I'm not upset at all, just reporting my experience. I had no intention of selling... I'll wait till the DOW and gold are at a 1:1 ratio. When I do sell, I'm selling back to a bullion dealer (at 5-10% below spot), not some fly-by-night jeweler, pawn shop or mall kiosk rip off operation.

[schockergd]

20% or so below spot?

Do you think that most companies for-profit have a 20% margin on goods? Heck no , 100% , 200% , 300% or so. If you're upset about 20% or so ,go try a jewelers, they would have offered you 50% of spot.

Why the attitude? I'm not upset at all, just reporting my experience. I had no intention of selling... I'll wait till the DOW and gold are at a 1:1 ratio. When I do sell, I'm selling back to a bullion dealer (at 5-10% below spot), not some fly-by-night jeweler, pawn shop or mall kiosk rip off operation.

Knowledge is power, and some people pay a fee for knowledge of how a particular item works or has value. I run into people all the time that pay a guy $100 to clear a virus off a computer that really takes 5 minutes and a few mouse clicks. Sure, that seems like a major ripoff to me, but to some people it's a lifesaver. Most people couldn't find a gold end-user (investor) if they were given a thousand dollars to try and find one. So they pay someone 20% to deal with it instead of researching it themselves.

[Cu Penny Hoarder]

Yep, there are lots of sheeple out there to be sheared... LOTS of them.

[mflugher]

20% or so below spot?

Do you think that most companies for-profit have a 20% margin on goods? Heck no , 100% , 200% , 300% or so. If you're upset about 20% or so ,go try a jewelers, they would have offered you 50% of spot.

Mfluger - What do you think about Ohio precious metal dealer laws? We've had a few dealers shut down in my town for not being licensed. I get worried once in a while even though I only buy coins (no scrap).

Assuming you don't advertise in the newspaper or other major media, have a road sign or a storefront you are probably safe. If you have further concerns or questions PM me and we can have a phone discussion tomorrow during business hours.

If you keep it to Craigslist/Newspaper classifieds, buy from home or in public places, and keep the purchases to less than say 10% of your gross income etc you are more than safe...

[mflugher]

20% or so below spot?

Do you think that most companies for-profit have a 20% margin on goods? Heck no , 100% , 200% , 300% or so. If you're upset about 20% or so ,go try a jewelers, they would have offered you 50% of spot.

Why the attitude? I'm not upset at all, just reporting my experience. I had no intention of selling... I'll wait till the DOW and gold are at a 1:1 ratio. When I do sell, I'm selling back to a bullion dealer (at 5-10% below spot), not some fly-by-night jeweler, pawn shop or mall kiosk rip off operation.

Even reputable jewelers will pay 50% of spot for scrap jewelry like i was saying its a completely different animal. Gold bullion is of a known exact purity, <hopefully> minted by a reputable company/government, and likely to never be melted to take another form (in say a 50 yr window at least) Scrap jewelry needs to be weighed, cleaned of impurities (Gems are not gold, and the smelter doesn't pay you for gems, Basically any gem that isn't a diamond is worth less than it's weight in gold, so if you buy the gem for gold weight you have a loss, also did you know every jewelry clasp is approx 20% by weight steel spring?, alot of jewelry will have gold clasps and Gold filled/plated body, or vise versa), smelted (fees apply),

basically all I'm saying is on Scrap jewelry 50-60% is the market average, on bullion you just have a different animal, and if you go to a guy who specializes in scrap jewelry, they aren't gonna want to pay you 80% plus of spot for bullion because they don't have a buyer for much more than say 5% over spot.

I highly doubt Goldline or PM dealers are going to be willing to buy a large amount of gold @ 5-10% under spot after the gold price peaks and starts going downward, they just won't be able to sell it fast enough to not lose money... When gold busts and starts to go down it will bust like a bubble situation, since there is so much speculation occuring I would expect to see not less than a 25% price loss over a week or so when/if this happens (which I don't see in the short to medium term future). Unfortunately news is delivered just too quickly nowadays.


I don't see how the Gold/dow ratio should have anything to do with your decision to buy/sell gold... Please explain your justification? keep in mind the dow changes in composition, stock splits, companies removed/added etc. If you looked @ the dow list from 1942 you wouldn't recognize half the companies.


Speaking of the DOW by the way, I was reading a stephen Leeb article recently and he said the entire market capitalization of ALL gold mining companies is less than that of Apple alone... Tell me that isn't scarey that our investors value gold that little compared to Ipads...

Mike

[fasteddy]

hey mflugher...a BIG TIME thanks for the commercial insight. i have bought some scrap gold from friends and neighbors...still have it...I guess I am long in scrap right now...looking to buy some from a co-worker this weekend. Again thanks for the words of knowledge.

[mflugher]

Why should anything other than a 22 pound bar of pure gold from a LME-approved refinery be purchased at anything close to spot gold?

You have to define "spot gold"

It's just like copper... the spot price is for a HUGE quantity, undelivered

There is a lot of work and risk that has to be taken in order to achieve the volumes which would justify higher prices.

Amen Brother...



For those of you buying jewelry... Look out for gold necklaces marked Italy 14k esp herringbone type necklaces generally the fakes don't have a quality bar (Usually oval shaped piece of gold which is next to one of the clasp jump rings), but instead have the 14k marked directly on the piece that looks like a folded piece of sheet metal and soldered to the end of the herringbone. I'm not saying all necklaces/bracelets without a quality bar are fake, but a good percentage is and I have taken to acid testing almost all the gold that comes in the door marked or not... I see maybe 1 per week in my office. and unfortunately have bought a few of them when in a rush. Specifically look at the 14k Marking, if you can tell the diff between engraving, a casting, and stamping of the 14k marking, real jewelry is generally stamped with a punch (much like a coin is) or its cast directly in the gold, its almost never engraved. Personally I wouldn't buy gold without a loupe and a basic 14/10/18k acid set to verify you are getting the real thing. Including loupe it shouldn't cost more than $50, really more like $30ish is the better price you can get.

[HPMBTT]

Great insights there, mflugher. Thanks for sharing with the rest of us. Where you at in Ohio?

[Cu Penny Hoarder]

I highly doubt Goldline or PM dealers are going to be willing to buy a large amount of gold @ 5-10% under spot after the gold price peaks and starts going downward, they just won't be able to sell it fast enough to not lose money... When gold busts and starts to go down it will bust like a bubble situation, since there is so much speculation occuring I would expect to see not less than a 25% price loss over a week or so when/if this happens (which I don't see in the short to medium term future). Unfortunately news is delivered just too quickly nowadays.

I don't see how the Gold/dow ratio should have anything to do with your decision to buy/sell gold... Please explain your justification? keep in mind the dow changes in composition, stock splits, companies removed/added etc. If you looked @ the dow list from 1942 you wouldn't recognize half the companies.

It's a fact that Goldline rips people off. There are many ill-informed people out there and they take full advantage of that. They push common foreign gold coins, call them rare and charge huge premiums for them. They also spend a fortune on marketing. There are many online bullion dealers that pay 5-10% under spot, I deal with several.

The talking bobble heads on tv have been saying that gold was a bubble since around $700/oz. A 25% correction would be such a gift because I would load up the truck. Lots of speculation is occuring in the paper market, that's why they play their little games raising the margin requirements. Still, there are a few topping/sell signals one must pay atttention to. Historically, when the DOW reaches, or comes close to a 1:1 ratio with gold, that is a topping/sell signal (the stock market is a criminal syndicate in itself, but I won't go into that here). In 1980 people formed lines around the block at coin stores and pawn shops to buy gold. When the general public is falling all over themselves to buy any asset class, you should be selling it. The public is only starting to becoming aware of G&S right now.

The credit bubble has burst and now it has become the bailout bubble. The FED and other central banks of the world are printing/creating fiat currency like crazy. Entire counties are bankrupt (including the US). I fully believe we are on the precipice of a global meltdown. Gold and silver are nowhere near a bubble. They are the only true safe haven out there right now.

[mflugher]

It's a fact that Goldline rips people off. There are many ill-informed people out there and they take full advantage of that. They push common foreign gold coins, call them rare and charge huge premiums for them. They also spend a fortune on marketing. There are many online bullion dealers that pay 5-10% under spot, I deal with several.

No disagreement on my part about gold line

The talking bobble heads on tv have been saying that gold was a bubble since around $700/oz. A 25% correction would be such a gift because I would load up the truck.

Agreed, I'm not saying gold is in a bubble, I'm saying regardless of if it is we will see bubble burst type correction when "something" happens, don't ask me what the something is, perhaps margins go up to 50%, whatever. Regardless anywhere from 2 weeks to 2 years from now we will probably see a 25% correction, I'll be buying hand over fist just like you, trust me. And I believe this correction will stagnate for 1 to 4 years as the media will say See see its been a bubble all along, public sentiment which is just now warming to gold/silver will go down, a lot of dumb people will sell and get burned, and they will not provide the support to raise the price of gold back up short/med term, so long as the institutionals/sovergns/george soro's of the world play it right they will be able to buy alot of gold during this phase, and win out long term. I personally will be buying as fast as I can because my market cap is not nearly enough to affect the market.

Lots of speculation is occuring in the paper market, that's why they play their little games raising the margin requirements. Still, there are a few topping/sell signals one must pay atttention to. Historically, when the DOW reaches, or comes close to a 1:1 ratio with gold, that is a topping/sell signal (the stock market is a criminal syndicate in itself, but I won't go into that here).

Agreed, PM on margins is a bit of a scary thing, I almost wish they would just get it over with go 50% margin and be done, we would probably see $900-1k gold for a while, but then they would have wasted their powers and probably be a smooth upward slope untill such time as the fiat monetary system gets some serious issues addressed.

Thanks for the heads up on the dow/gold ratio I'll have to do some research to see if I agree with this but it sounds reasonable now that you explain it.
Even assuming I agree, my comfort level would probably say keep my stock/PM ratio about the inverse of the dow/pm ratio. IE gold is currently about 15% of dow and I am 15% invested in stocks/mut funds at this time in IRA which I consider my play money, and I have the opposite ratio in my non IRA assets except instead of stock market my money is invested in small businesses, my gold buying venture, a tax prep business which is my "main business" are about 90% of my net worth, with the rest invested in non numi coins. I will probably try to continue this ratio until such time as its 50/50 at which point I will start selling PM to keep the inverse ratio mentioned above. This is a strategy that I call agressively conservative.

The gold thing is taking off and has the potential to give taxe buis a run for its money and I'm only 5 months in... gonna invest about 5k in advertising for gold business over the next 3 months and if it works I will probably reassess the tax business and potentially quit expanding it in leiu of gold buying outlets. Of course my home/car/personal property are not included in thiese percentages because they are not investments but merely a "cost of living"

In 1980 people formed lines around the block at coin stores and pawn shops to buy gold. When the general public is falling all over themselves to buy any asset class, you should be selling it. The public is only starting to becoming aware of G&S right now.


The credit bubble has burst and now it has become the bailout bubble. The FED and other central banks of the world are printing/creating fiat currency like crazy. Entire counties are bankrupt (including the US). I fully believe we are on the precipice of a global meltdown. Gold and silver are nowhere near a bubble. They are the only true safe haven out there right now

I agree that gold and silv are no where near the Top of a bubble, I think we are entering bubble runup territory and PMs will be the next bubble or the one after that. If you are 60 and you go all in on gold you may see a correction of 25%ish and enough media hype to keep it down there for a year or 4, then we will see the bubble start, after the comex has used up all their their margin tricks. I'd hate to see someone so near needing that money being forced to sell at less than favorable prices. I can wait for the next gold boom to sell if I miss this one.



I'm long:
Phys Silver (american junk silvercoins/ASEs/other government minted bullion coins but not circ silver/foreign numi)
Silver ETFs
Lead
Small business which I have direct influence over
intend to go long gold scrap soon.
intent/am starting to go long Copper/nickel coins.
Survival food/water/supplies



I'm holding off on aquiring, but considering:

Gold import business
Diamond import business
Income producing property
Gas station (Ghetto)

I'm short:

Numi coins, sell em as soon as I find em, and refuse to pay any premium for numi coins. I think we are heading for a situation where numi premium is going to shrink and pm value will eclipse it. Note Numi value of stamps/baseball cards/other collectables has gone to hell in the last 15 years. Numi premiums have shrunken though not as much, the only thing keeping numi coins from plummeting is the fact that they are also backed by silver/gold, and silver/gold investors usually start to like numi coins as well..

Fine jewelry: again I'd rather have the PM instead of the jewelry, I sell any fine jewelry in good condition asap, or I scrap it, and salvage the diamonds for short term sale.

Colored Gemstone: Don't invest in these, synthetics are getting too good, all gemstone prices are dropping

Diamonds: Again like numi coins, stamps and baseball cards, this is a luxury item and not as recognizeable as money, Sell them at a good price if you can and buy PMs instead, just don't give them away.





I may be right, I may be wrong, I'm prepared to face the consequenses either way. (disclaimer below)

These of course are my own thoughts and opinions If you think I'm right, do your own research, if you think I'm wrong let me know why, I'll do some research and perhaps change my opinion or perhaps give you some info that will change yours. Regardless I'm very agressive, dont follow my plan without a lot of research, and don't follow my plan with retirement money if you are above 50

[Market Harmony]

Regardless of gold and silver price, the truly rare numismatic coins should continue to hold their value. I suppose this because coin collecting and numismatics, for the most part, go hand in hand. Recently the appreciation of PM's has outpaced the appreciation of the cumulative rare coin market. But, there are times to accumulate and times to divest. In a scenario of high inflation, rare collectibles' values have outpaced inflation in the past.

However, if suddenly the public becomes wise to PM's then many of the lower end numismatics will be taken over by their PM value. If you have truly rare coins, then there will always be a substantial premium on them. The people who hold them don't need to sell; for they most likely have plenty of bullion. Heritage and Bower & Stacks have been consistently reporting higher and higher hammer prices for truly rare numismatics.

When I say truly rare, I am meaning the coins that are graded by well known 3rd party grading services and are assigned a grade in which very few coins are better. Coins that are "top pop" will retain their value, in my opinion.

There's more money out there than what you might expect.

[Pennysaved]

Regardless of gold and silver price, the truly rare numismatic coins should continue to hold their value. I suppose this because coin collecting and numismatics, for the most part, go hand in hand. Recently the appreciation of PM's has outpaced the appreciation of the cumulative rare coin market. But, there are times to accumulate and times to divest. In a scenario of high inflation, rare collectibles' values have outpaced inflation in the past.

However, if suddenly the public becomes wise to PM's then many of the lower end numismatics will be taken over by their PM value. If you have truly rare coins, then there will always be a substantial premium on them. The people who hold them don't need to sell; for they most likely have plenty of bullion. Heritage and Bower & Stacks have been consistently reporting higher and higher hammer prices for truly rare numismatics.

When I say truly rare, I am meaning the coins that are graded by well known 3rd party grading services and are assigned a grade in which very few coins are better. Coins that are "top pop" will retain their value, in my opinion.

There's more money out there than what you might expect.

**********************************

Don't you think that a lot of collector coins are being melted down by those who just care about the silver and gold? Probably happens more with silver than with gold.

[mflugher]

Yes the Good morgans, 1943 copper, and the VDB-s will always be worth a good amount more than their PM/BM value...

I can't think of any situation where I would prefer to have :

http://www.ebay.com/itm/1921-St-Gaudens ... 2eb5e6991b

instead of

http://www.ebay.com/itm/50-OLD-PRE-33-U ... 27bdd92d56

Ok... In a situation where gold prices are reliably declining, that would be the situation where I would prefer the 1921 ...
I don't think any of us on this board believe that is a likelyhood in the near term.

And in a SHTF situation I don't want to try to track down Barclay's or Bower & Stacks to sell that damn 21.

Also think of it this way.

Would you rather have 1 MS63 1880S morgan for $212k? or 5000x $40 1921 morgans that are beat to hell when Silver prices hit $75? Even if I could get the morgan for 1/2 its numismedia price I'd buy it, resell asap for a profit and invest in the 21's.

Hence I'm bearish on Numis, perhaps short or bearish is the wrong word, but I belive the underlying PM price change will outstip the Numi appreciation that might happen. I won't hold anything in a Graded coin holder. Its just not my thing.

[mflugher]

Don't you think that a lot of collector coins are being melted down by those who just care about the silver and gold? Probably happens more with silver than with gold.

Short answer... No,

I'm sure some yokel somewhere has melted a nice coin or 2 for whatever reason, but the commercial system in place for disposing of gold has figured this out already.

I'm sure a lot of nice coins were lost/melted/destroyed back when they were in circulation or during the gold confiscation under FDR, and thats what made them rare, but once they gain collectable status I doubt it.


1. The gold buyers aren't dumb, if they were they would have 800 lbs of counterfeit gold plated/gold filled in their safe and be out of business, they are more than capable of looking @ a coin price guide. I check every damn dime and quarter that comes across my desk.

2. the refinerys aren't dumb, they throw the culls in the smelter, they save the junk silver and bag it to sell to Goldline and the other companies which sell that stuff, anything they think they can get more than a 20% numi premium for they will set aside and sell @ coin auctions/shows... If your refinery deals 1000 oz of gold scrap a day (thats smalltime) they will have someone on staff who has some numismatic experience who can at least look @ a price guide before chucking a coin in the pile.

3. Now the small time hobby refiner/jeweler, again anyone smart enough to purchase and run the equip to melt gold/silver will probably have the intellegence to read a coin guide as well.

in fact my refiner is willing to trade coins for scrap (less refiner fees and at a small premium of course) I'm looking into getting maybe an oz of gold fractionals/semi numis and listing them in the Buy it now section to see how it goes. I love finding ways to profit above the spot discount

[VWBEAMER]

$1500 was a good offer.

[schockergd]

It's a fact that Goldline rips people off. There are many ill-informed people out there and they take full advantage of that. They push common foreign gold coins, call them rare and charge huge premiums for them. They also spend a fortune on marketing. There are many online bullion dealers that pay 5-10% under spot, I deal with several.

No disagreement on my part about gold line

The talking bobble heads on tv have been saying that gold was a bubble since around $700/oz. A 25% correction would be such a gift because I would load up the truck.

Agreed, I'm not saying gold is in a bubble, I'm saying regardless of if it is we will see bubble burst type correction when "something" happens, don't ask me what the something is, perhaps margins go up to 50%, whatever. Regardless anywhere from 2 weeks to 2 years from now we will probably see a 25% correction, I'll be buying hand over fist just like you, trust me. And I believe this correction will stagnate for 1 to 4 years as the media will say See see its been a bubble all along, public sentiment which is just now warming to gold/silver will go down, a lot of dumb people will sell and get burned, and they will not provide the support to raise the price of gold back up short/med term, so long as the institutionals/sovergns/george soro's of the world play it right they will be able to buy alot of gold during this phase, and win out long term. I personally will be buying as fast as I can because my market cap is not nearly enough to affect the market.

Lots of speculation is occuring in the paper market, that's why they play their little games raising the margin requirements. Still, there are a few topping/sell signals one must pay atttention to. Historically, when the DOW reaches, or comes close to a 1:1 ratio with gold, that is a topping/sell signal (the stock market is a criminal syndicate in itself, but I won't go into that here).

Agreed, PM on margins is a bit of a scary thing, I almost wish they would just get it over with go 50% margin and be done, we would probably see $900-1k gold for a while, but then they would have wasted their powers and probably be a smooth upward slope untill such time as the fiat monetary system gets some serious issues addressed.

Thanks for the heads up on the dow/gold ratio I'll have to do some research to see if I agree with this but it sounds reasonable now that you explain it.
Even assuming I agree, my comfort level would probably say keep my stock/PM ratio about the inverse of the dow/pm ratio. IE gold is currently about 15% of dow and I am 15% invested in stocks/mut funds at this time in IRA which I consider my play money, and I have the opposite ratio in my non IRA assets except instead of stock market my money is invested in small businesses, my gold buying venture, a tax prep business which is my "main business" are about 90% of my net worth, with the rest invested in non numi coins. I will probably try to continue this ratio until such time as its 50/50 at which point I will start selling PM to keep the inverse ratio mentioned above. This is a strategy that I call agressively conservative.

The gold thing is taking off and has the potential to give taxe buis a run for its money and I'm only 5 months in... gonna invest about 5k in advertising for gold business over the next 3 months and if it works I will probably reassess the tax business and potentially quit expanding it in leiu of gold buying outlets. Of course my home/car/personal property are not included in thiese percentages because they are not investments but merely a "cost of living"

In 1980 people formed lines around the block at coin stores and pawn shops to buy gold. When the general public is falling all over themselves to buy any asset class, you should be selling it. The public is only starting to becoming aware of G&S right now.


The credit bubble has burst and now it has become the bailout bubble. The FED and other central banks of the world are printing/creating fiat currency like crazy. Entire counties are bankrupt (including the US). I fully believe we are on the precipice of a global meltdown. Gold and silver are nowhere near a bubble. They are the only true safe haven out there right now

I agree that gold and silv are no where near the Top of a bubble, I think we are entering bubble runup territory and PMs will be the next bubble or the one after that. If you are 60 and you go all in on gold you may see a correction of 25%ish and enough media hype to keep it down there for a year or 4, then we will see the bubble start, after the comex has used up all their their margin tricks. I'd hate to see someone so near needing that money being forced to sell at less than favorable prices. I can wait for the next gold boom to sell if I miss this one.



I'm long:
Phys Silver (american junk silvercoins/ASEs/other government minted bullion coins but not circ silver/foreign numi)
Silver ETFs
Lead
Small business which I have direct influence over
intend to go long gold scrap soon.
intent/am starting to go long Copper/nickel coins.
Survival food/water/supplies



I'm holding off on aquiring, but considering:

Gold import business
Diamond import business
Income producing property
Gas station (Ghetto)

I'm short:

Numi coins, sell em as soon as I find em, and refuse to pay any premium for numi coins. I think we are heading for a situation where numi premium is going to shrink and pm value will eclipse it. Note Numi value of stamps/baseball cards/other collectables has gone to hell in the last 15 years. Numi premiums have shrunken though not as much, the only thing keeping numi coins from plummeting is the fact that they are also backed by silver/gold, and silver/gold investors usually start to like numi coins as well..

Fine jewelry: again I'd rather have the PM instead of the jewelry, I sell any fine jewelry in good condition asap, or I scrap it, and salvage the diamonds for short term sale.

Colored Gemstone: Don't invest in these, synthetics are getting too good, all gemstone prices are dropping

Diamonds: Again like numi coins, stamps and baseball cards, this is a luxury item and not as recognizeable as money, Sell them at a good price if you can and buy PMs instead, just don't give them away.





I may be right, I may be wrong, I'm prepared to face the consequenses either way. (disclaimer below)

These of course are my own thoughts and opinions If you think I'm right, do your own research, if you think I'm wrong let me know why, I'll do some research and perhaps change my opinion or perhaps give you some info that will change yours. Regardless I'm very agressive, dont follow my plan without a lot of research, and don't follow my plan with retirement money if you are above 50

Right now, we're at about the bottom of the market for rentals, and that's where I'm suggesting everyone get into. Your part of the state isn't that much different than mine, I can do 50%-100% ROI on every purchase.

[schockergd]

Don't you think that a lot of collector coins are being melted down by those who just care about the silver and gold? Probably happens more with silver than with gold.

Short answer... No,

I'm sure some yokel somewhere has melted a nice coin or 2 for whatever reason, but the commercial system in place for disposing of gold has figured this out already.

I'm sure a lot of nice coins were lost/melted/destroyed back when they were in circulation or during the gold confiscation under FDR, and thats what made them rare, but once they gain collectable status I doubt it.


1. The gold buyers aren't dumb, if they were they would have 800 lbs of counterfeit gold plated/gold filled in their safe and be out of business, they are more than capable of looking @ a coin price guide. I check every damn dime and quarter that comes across my desk.

2. the refinerys aren't dumb, they throw the culls in the smelter, they save the junk silver and bag it to sell to Goldline and the other companies which sell that stuff, anything they think they can get more than a 20% numi premium for they will set aside and sell @ coin auctions/shows... If your refinery deals 1000 oz of gold scrap a day (thats smalltime) they will have someone on staff who has some numismatic experience who can at least look @ a price guide before chucking a coin in the pile.

3. Now the small time hobby refiner/jeweler, again anyone smart enough to purchase and run the equip to melt gold/silver will probably have the intellegence to read a coin guide as well.

in fact my refiner is willing to trade coins for scrap (less refiner fees and at a small premium of course) I'm looking into getting maybe an oz of gold fractionals/semi numis and listing them in the Buy it now section to see how it goes. I love finding ways to profit above the spot discount

The thing is though, alot of 'common' silver is being melted in droves. What's common? Pretty much every single peace dollar bar the '21 and the '28 are being melted at a very good pace. The problem is , those two aren't the only rare ones, there are about a half dozen other dates from the series that had near or under 1m mintages, and they're being melted. The significance of that is that a AU 1916D merc dime, or 1916SLQ both had mintages of only about 250k. Meaning it doesn't take a ton of those dollars to be melted to get down to the area of the rare stuff.

[mflugher]

The thing is though, alot of 'common' silver is being melted in droves. What's common? Pretty much every single peace dollar bar the '21 and the '28 are being melted at a very good pace. The problem is , those two aren't the only rare ones, there are about a half dozen other dates from the series that had near or under 1m mintages, and they're being melted. The significance of that is that a AU 1916D merc dime, or 1916SLQ both had mintages of only about 250k. Meaning it doesn't take a ton of those dollars to be melted to get down to the area of the rare stuff.

I can't wait till that happens it only raises the price of the ones we hold.

This may be blasphemy, but imho I want to see some of the lower quality coins destroyed, why not. As investors already in the market it only makes us richer. Its like we hold a copper mine in nevada and all the mines in south america are suddenly taken over by the govt... it only benefits us.


Course if you don't have any silver yet you don't get to participate, so get to work what you waiting on you lazy bums?

[Cu Penny Hoarder]

Regardless of gold and silver price, the truly rare numismatic coins should continue to hold their value. I suppose this because coin collecting and numismatics, for the most part, go hand in hand. Recently the appreciation of PM's has outpaced the appreciation of the cumulative rare coin market. But, there are times to accumulate and times to divest. In a scenario of high inflation, rare collectibles' values have outpaced inflation in the past.

Maybe not super rare, but I am curretly in the market for $20 St. Gaudens in MS-60/63. I do not have many pre-1933 gold coins and I've always loved the Saint G's for their history and their beauty. Hoping gold drops back down to the $1700 area so I pick up 10-20 of these babys!

I've noticed when the US gold market gets hit during the day, the Asians usually run up the price again overnight. Can't really blame them for wanting real money.