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wagsthadog
Penny Hoarding Member
USA
565 Posts |
 Posted - 01/11/2009 : 20:30:09
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Hi all,
I personally feel that the best gold coins on the planet are Pre-33 Us gold coins. I'd take a Pre-33 over any comparable-sized gold coin from elsewhere.
However, the premiums for Pre-33 gold have just seemed to have gone through the roof! Back when gold was $1000/oz, I bought a few gold $10 eagles, and they were at spot, which was fine. I could have gotten double eagles in excellent shape for spot as well. Now, however, we're talking $300 over spot for double eagles and about 20% over spot for all other Pre-33 gold! What is with the big awakening? Are people anticipating a return to a gold-backed currency (in which case Gold American Eagles have more face value per oz), or is the market just able to get away with the prices?
I'm still glad I got what I got !!
wags
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Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/11/2009 : 20:38:40
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ditto here wags. I think people are hedging their bets, but stupidly. They think if gold falls they can bank on the numismatic value. -WRONG - If gold WEAKENS the first thing that will disappear is that premium.
I also prefer the numismatics, but not at that price. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/11/2009 : 20:40:13
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| Maybe it is just that physical gold is getting so hard to find that even $300 over spot doesn't sound so bad. |
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Think positive. |
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keys
Penny Collector Member
383 Posts |
Posted - 01/12/2009 : 16:18:13
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Another reason pre-1933 gold sells for a premium (besides numismatic value and beauty) is that some coin sellers advertise pre-1933 gold as non-confiscatable. Gold coins minted before 1933 were allowed to be kept by collectors after the big gold turn. Some gold sellers play on the fears of gold buyers and offer pre-1933 gold as a way to protect their investment from future confiscation.
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I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/12/2009 : 17:04:03
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Maybe keys, but then again, this is 2009. I can sell my gold in Canada, or move it there to a storage if need be.
Also, I can send an ASE or AGE to NGC and turn it into a numismatic to protect it.
BTW: Welcome aboard
I still can't figure it. I see people paying $950 for AGEs on ebay and I can buy them for $885 at apmex today. |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 01/12/2009 : 17:34:08
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quote:
Originally posted by fb101
Maybe keys, but then again, this is 2009. I can sell my gold in Canada, or move it there to a storage if need be.
Also, I can send an ASE or AGE to NGC and turn it into a numismatic to protect it.
BTW: Welcome aboard
I still can't figure it. I see people paying $950 for AGEs on ebay and I can buy them for $885 at apmex today.
Hi there-
I agree with you 100%, fb101- There's no such thing as "bad gold."
I defense of the ebay buyers, a lot of the online gold dealers have shipping costs upwards of $20 (or more ), whereas it's not uncommon to have free shipping on ebay. So, I guess the margin can be narrower when you look at the extras.
wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 01/13/2009 : 01:19:44
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| yup when I was looking at gold I was looking at $20 pieces and you could get them in the 1860's for not that much over spot.Bought all silver instead |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/13/2009 : 04:57:28
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| according to the feds money laundering regs, the value has to be 2X spot to be considered numismatic. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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fb101
Administrator
USA
2856 Posts |
Posted - 01/13/2009 : 16:19:43
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quote:
Originally posted by Lemon Thrower
according to the feds money laundering regs, the value has to be 2X spot to be considered numismatic.
I guess my 1963 proof set no longer qualifies as a numismatic then... 
Now that I think of it, any entire collection of non-uncirculated $5, $10, and $20 gold is no longer numismatic unless they're CCs or Dahlonegas.
Now that's tough. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/13/2009 : 21:09:22
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MS-65 is about 2X.
hey, don't shoot the messenger. I didn't write those regs. it was part of the partiot act that no one noticed while 9/11 was happening. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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fb101
Administrator
USA
2856 Posts |
Posted - 01/13/2009 : 21:23:33
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| not personal, just disgusted. |
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Who else is mad about Pre-33 gold premiums?
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