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Re: Even Coin Collectors Have Given Up on Gold  

By: DGpeddler in FFFT3 | Recommend this post (1)
Sat, 13 Jun 15 1:19 AM | 124 view(s)
Boardmark this board | Food For Further Thought 3 		Msg. 13324 of 65535
(This msg. is a reply to 13317 by oldCADuser)
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Back when silver hit the top, my mother took her old coins and sold them. I picked out the "good" ones for her to keep. It was a mistake. She got 22 times face value. They will probably not be that valuable again in my lifetime. I have several hundreds of dollars of old coins. Many I bought my senior year in high school. I went once a week to the banks and bought all the nickels and dimes I had not bought before and went through them. Living in Navajo land, I got lots.


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The above is a reply to the following message:
Re: Even Coin Collectors Have Given Up on Gold
By: oldCADuser in FFFT3
Fri, 12 Jun 15 3:27 AM 		Msg. 13317 of 65535

I don't have any gold coins in my collection, but I do have a fair amount of silver. Now with the older (pre-1965) silver coins, their collectors value is generally much higher than what would be the metals value. That being said, I've also been accumulating so-called bullion coins like the 1 troy ounce Sterling Silver (99.9% pure) American Eagle 'Dollars':

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I've been buying 10 or so of these per year for the last several years. One coin goes into my collection, the remainder I hold for their investment value.

Note that while you can purchase so-called collectable or numismatic coins directly from the US Mint (which I do every year), you can only purchase bullion coins from what the Treasury Department refers to as 'Authorized Purchasers', such as coin dealers, investment brokers, precious metal firms, etc. These places generally offer the coins at prices based on the daily spot market.

I generally buy my bullion coins from APMEX which sells Silver Eagles at about $3 or so over spot, which today was $16.12/ounce.

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