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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 04/05/2009 : 07:50:21
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I recently walked out of my coin dealer's shop with a roll of ASEs instead of the 1/2 oz. Platinum Eagle that I wanted. What I desired was a "Modern rarity". The lowest mintage 1/2 OZ. Platinum Eagle available, while platinum bullion prices are still depressed! Seemed like a decent buy to me; however, my dealer discouraged this purchase, thus losing $400 of business. Why did he do this? Was he trying to protect me?
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
 Posted - 04/05/2009 : 07:54:47
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the plat and paladium coins have low mintages but i don't think they will ever be desired by collectors like the regular issues. think of them like commemoratives.
they are a decent way to buy plat or pdm, although bars are cheaper.
that is not to say there is not a chance of a collectors premium increasing, but i think that is unlikely. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 04/05/2009 : 08:09:19
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quote:
Originally posted by starwarsgeek171
I recently walked out of my coin dealer's shop with a roll of ASEs instead of the 1/2 oz. Platinum Eagle that I wanted. What I desired was a "Modern rarity". The lowest mintage 1/2 OZ. Platinum Eagle available, while platinum bullion prices are still depressed! Seemed like a decent buy to me; however, my dealer discouraged this purchase, thus losing $400 of business. Why did he do this? Was he trying to protect me?
hmmmm... maybe he had another buyer. But it seems odd. Why would he carry them in his store if he did not want to sell them? He would have had to have been sitting on that plat coin for a long time if he is currently holding it at a loss, thus him not wanting to sell. Or, maybe he is discouraging buyers today, but will encourage them $100 higher. You never know what he is thinking. If you wanted it for a good reason or speculation, then you should trust yourself more than your dealer (unless you and he have been doing business for a long time, and he was legitimately looking out for your best interest)
Platinum has many industrial uses, but it isn't used that much today for bullion investment. You could have said the same thing about copper 4 years ago, and silver back in the 1950's |
goto the new and improved realcent: http://realcent.org |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/05/2009 : 08:14:21
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"If you wanted it for a good reason or speculation, then you should trust yourself more than your dealer (unless you and he have been doing business for a long time, and he was legitimately looking out for your best interest)"
The problem is that both of those statements are true!
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 04/05/2009 : 13:42:12
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| I would suspect that you go there frequently. If so that would explain what happened. He knows he can always, or hopefully, sell something to someone that he may never see again. If you've been there before, then I would say he looking out for a potentially repeat customer. Much better to have you buy many, many items over the years than one item today and hate it later. |
Carl |
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"Modern Rarity"
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