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Re: Coinflation

By: lkorrow in CONSTITUTION | Recommend this post (0)
Thu, 10 Nov 11 2:43 AM | 37 view(s)
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Msg. 16090 of 21975
(This msg. is a reply to 16086 by DueDillinger)

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Not a bad purchase...

Gold/silver took a bath today, I see, while the market tanked...




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The above is a reply to the following message:
Re: Coinflation
By: DueDillinger
in CONSTITUTION
Wed, 09 Nov 11 11:46 AM
Msg. 16086 of 21975

Nobody melts collectible coins. The trend is quite the opposite as valued numismatic items are increasingly being graded and slabbed.

For example, I have a few of the 2009 ultra-high relief double eagles that I bought directly from the US Mint for about $1500 when gold was about $1100. Now, with gold around $1800, these sell for around $3200. Most grade MS69 or MS70. Those graded MS70 sell for $4500 or more, so I just sent one of 'em to PCGS to get graded and slabbed. It looked 'perfect' to me, and of course I'm hoping they agree.

'Melt value' is applicable to circulated common coins that have little collectible value, so the spot price for bullion is the price determinant.

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