GoldFinger1969

Precious metals/commodities tend to have big cyclical moves....stocks move UP over time, in the aggregate....bonds are capped by Laws Of Mathematics (duration, credit losses). So it's more than just "what goes up must come down." Depends on how much of each !!

My understanding from clients/friends/family -- I wasn't into gold/coins at the time -- was that decades ago firms like Blanchard used to sell you the bullion coins and then try and get you to move into the numismatics. My uncle for one bought a few dozen Saints (after buying bullion coins), though I've never seen them (I think I told him to catalog them for me a few months ago ). In retrospect, it turned out OK for him as most of the time he bought gold was probably $400-500. While more gains were to be made by buying bullion, even paying a rich premium for numismatics turned out OK (to what extent I don't know).

The Zimbabwe Dollar is more stable.

What are you buying ? It's like buying cheap stocks, but not being sure if the exchange or transfer agent or brokerage firm will be able to credit you the shares. This would be comical if not for the $$$ losses for small investors.

Crypto got slammed today because one of the "saviors" of all the stablecoins, exchanges, etc....needed to be bailed out himself. BitCoin was down at the open...rallied on the merger/bailout news....then fell back to down 12% or so at the close. If the exchanges and individuals backing this stuff are shaky, how can the underlying cryptos and coins inspire confidence? Until you get some super-deep pocketed billionaire like a Musk, Bezos, Buffet, etc.....this thing is shaky. It's like putting huge $$$ into a bank with no FDIC insurance and the bank owners tell you "Trust us." https://www.cnbc.com/2022/11/08/cryptocurrencies-slide-as-worries-about-ftx-fester-in-latest-crypto-liquidity-scare.html

Back-and-forth and learning is why we are all here. But when someone posts something that is CLEARLY or OBJECTIVELY not the case, people here will note it. No exceptions....we're tough on newbies or vets.

I'm surprised they could track it down back then....and surprised they retrieved it. Even with the lower prices then prevailing in the economy, a few thousand dollars in gold given the volume of gold coins minted (from $20 down to $2.50 or whatever) would seem a rounding error. Interesting, Roger...thanks !

Because of more total posters, I see more relevant threads of the kind you seek over at CU, CT, etc. But they have their share of downtime and OT threads. I've done my best to resuscitate old threads while creating new ones on coins I have interest in (Saints, Morgans) and topics regarding the intersection of our hobby and financial markets. Sometimes I get a winner (73 pages on Roger's book) and sometimes it's a clunker (threads of 1-2 pages over a few years). I hope you stay and just are more selective in what threads you open and/or read. I enjoy your commentary.

You're telling us that gold went up in smoke.....vaporized....then re-constituted itself as gold flakes on houses across the street ? And they tracked down that minute amount ? Wow...unreal.

Yes, I'm waiting for one to show up here offering me authentic MS-65 Saints at $1,200 a pop.

Craig, what do you want to bet that not only does the coin NOT get the designation OR grade he seeks....but that he never posts again here and/or doesn't post with the TPG grade he receives ?

If someone states something that a bunch of people -- most of whom do not know one another and haven't met at all or many times and thus have no coordinated benefit to all taking 1 side of a debate -- "reek of envy"......couldn't it just be that they are RIGHT ?????

I have no doubt about that. But gold isn't asbestos so probably less damage via the unseen than just regular hazards.

So if you had 1,000 bars....could they weigh them all at once or maybe a few hundred at a time....and then know in the aggregate that they were up to spec...or did they do it bar-by-bar ?

Are you saying they actually measured the weight of ALL gold bars that were used in trade ? That must have been a huge PITA.

I think Mark is just not responding (any more) to THIS thread. I am sure he'll continue to post elsewhere. He better. Or else I'll sic Teddy (see avatar) on him.

Always value your expertise and opinions, Mark, so ALWAYS feel free to chime in ! Makes sense and I kinda agree. Thanks Mark !!

I think gold was about today's price back during FUN 2020 and I got the 1915-S MS-63 for like $1,650. Check out some LCS and maybe coin shows (if they are near you).

If a deal is fairly-priced for the coin and grade, the 3% isn't usually a deal-breaker. If a coin was raw it might be.

Wasn't that what Billy Ray Valentine told the limo driver in "Trading Places" ??

Would you think there's an incentive for that even if the price differential is minimal ? I'm talkinig common Saints in MS-62 and 63.

"Alternative asset class" would refer to anything other than traditional asset classes like stocks, bonds, cash/MMFs, precious metals, currencies, etc. So....baseball cards, NFTs, art, Kanye West , etc. etc.

IMO...if you have a good price the 3% isn't a deal-breaker. Especially for 1 or 2 coins that you really like. Now...if someone is buying 10-20 coins as a bullion subsitute, maybe that 3% and the other premium are more important. There's also something to be said for the value of the holder, which is at least $30 in materials and grading labor involved. Something to be said for NOT getting a modern bullion coin in those little soft plastic fold-overs.

On the subject of CAC stickers and submittances.....is there a reason people/dealers would send in common coins in low-MS for a CAC sticker ? I've seen a bunch of 62's and 63's lately with the green bean.

I think I said BE AWARE of it...but I said if the price was good and you were OK with the coin, the 3% differential at today's levels isn't a deal-breaker. Just be aware of it. It's about $60 less per coin if you sold it to my LCS than a modern bullion coin.