GoldFinger1969

We should all be a bit thick-skinned here.  You just can't let it bother you.  I'm here to gather and accumulate knowledge and ask questions, if my butt gets tanned every now and then rhetorically, so be it. 

I see more people in the NEWBIE section the last year or so, but with gold sucking eggs the last few months, I think that is why our section US COINS is a bit off.

On 7/31/2022 at 12:57 PM, RWB said:

The very best detail for proofs was striking the coin on a medal press from new dies, then doing nothing else -- that was a satin proof.

Got it.....and the Satin Proofs were the closest thing to today's Mirror Proofs, right ?

I think you said mirror proof technology came in the late-1930's or 1940's, right ?

What causes the mirror-like finish and reflectivity in today's proofs vs. those 70-100 years ago....is it polish, better dies, improved metallurgy ?

I do realize that you had a mirror-like finish on the 1907 EHR Saint-Gaudens but that was a result of the annealing process which left gold on the surface and removed copper.

On 8/1/2022 at 6:16 PM, Quintus Arrius said:

The latest... "DEATH OF A CRYPTO COMPANY"  "The downfall of Celsius Network tells the story of an industry that became the thing it was trying to reject."  (July 25, 2022)  This was a podcast one could access (for me by simply pushing a button) but having encountered people who were similarly defrauded, I chose to pass. I believe the losses involved $20 billion. There have been other spectacular crypto failures but they were always announced in muted fashion. I don't revel in other people's misfortunes.  My condolences to those whose stories, for obvious reasons, will never be known.

These crypto losses are tens of billions...even hundreds of billions when you throw in the price declines in addition to the bankrupticies.....wonder who's been getting hit ?

Not sure if it's alot of Little Guys....or a few more big ones, like Three Arrows Capital ?

You happy with the coins ?  You like looking at them ?

The price was OK and within your budget ?

That's ALL that matters, Eagle.  Congrats on the coins !  

On 7/31/2022 at 7:49 PM, Oldhoopster said:

You said  QA is an acquired taste, So are anchovies, liver, and broccoli

I like anchovies, especially on a pizza !!   Broccoli isn't bad, if you have some lemon on it. 

On 7/31/2022 at 6:53 PM, Oldhoopster said:

It's about time.  Nothing like a semi-sarcastic comment to endear yourself to the moderators.  Go ahead and respond directly to my comments.  But I'm still wondering why you feel the need to keep tagging me in unrelated conversations?  You never provided an answer in your previous soliloquy. Did you feel that it was imperative that I read your comment regarding incorrect word usage in old posts?  If so, why?  Or are you just trying to stir the pot and cause trouble?  

QA is an acquired taste, like someone who talks in rhymes or pentamic whateveritscalled. 

Seriously, his off-beat method of posting is akin to William F. Buckley, Jr. talking to his political opponents.

However, do not confuse his erratic, eclectic, unique writing style for trolling....there are kernels of wisdom in his posts, just look at the RWB Saints Book Thread, for instance. 

And of course, there's Roosters.......  

On 7/31/2022 at 3:35 PM, DWLange said:

Use of the AU grade goes back to the 1950s or earlier. Here's the first installment of a serial article in The Numismatist that ran during 1956.

Dave, do you have any general thoughts on "gradeflation" and/or the role of CAC ?

I still am a bit confused over how "sandblasting" -- I presume that is hitting the coins with micro-particles of sand -- was able to not ruin and actually improve the coin's features or appearance.  I didn't think the technology for this was even around until a few decades ago.

Time to hit FMTM again I guess. 

On 7/31/2022 at 11:57 AM, RWB said:

..but not in reality because the "grades" are unstable, and continued grade inflation pushes inferior coins into superior "grade" labels. The absurdity of "AU-50" is an excellent example. These things have been EF coins for generations. Now, by their individual dictate and fiat, TPGs are declaring them "About Uncirculated."

I think that is mostly over, RWB, at least in alot of the larger gold and silver coins where most stuff has been properly graded and/or already re-submitted. 

I still see threads over ATS and elsewhere about a particular U.S. coin -- the Franklin Gradeflation Thread being a classic -- but I don't think that MS-65 Saints are getting MS-66 grades in any quantity.

And if that happens.....well....then CAC is our best friend. 

On 7/31/2022 at 11:10 AM, RWB said:

OR --- If supply is short, reduce quality and raise price claiming "New and Improved." Economic Reality 101.

Well, the TPG grades in theory reduce that likelihood.  If gold is unchanged in price from some fixed time a while back, then MS-65's and MS-63 generic bullion substitutes for a 1924 Saint shouldn't have moved materially.

I see a SLIGHT premium in the weekly auctions I watch, but nothing dramatic.  I don't see MS-65's getting MS-66 money.

On 7/31/2022 at 9:07 AM, RWB said:

They are paying inflated prices for overgraded coins in TPG plastic holders.

If supply is short, raise price to meet demand.  Economics 101.

Maybe supply was artificially cut in 2020 since coin shows and even visits to a LCS were kaput. 

On 7/31/2022 at 7:29 AM, MarkFeld said:

Maybe you should check it out and stop selling it short.

Thanks for the links.....I never "sold it short".....I just haven't seen as much media focus as on other high-end collections and/or purchases.

On 7/30/2022 at 7:05 AM, MarkFeld said:

In this case, saying only that his claim to fame is “lots of high-end coins” is still a gross understatement of the nature of his collection and the care he has taken with it.

I haven't seen as much in articles and the media/internet on Tyran as I have with Simpson.  Just sayin'........

On 7/30/2022 at 11:50 AM, EagleRJO said:

Thats fine with me and makes sense with all the "gold diggers" (pun intended) out there.  Sounds like they may be more of a real purist type collector and didn't get the coin to show off or anything.  I was just curious.  Maybe by changing the thread title to include Double Eagles [yes, that worked] they might make an appearance.   ... 

Their registry is under "Elite Collection" over ATS....and EC has posted a few times in the RWB Saints Book Thread. 

On 7/30/2022 at 10:28 AM, EagleRJO said:

Wow, I just saw some numbers related to auctions for the only 1933 Saint-Gaudens Gold Double Eagle that can be legally owned by an individual.  World record for a coin at auction in June of 2021.  So, has the buyer revealed themselves if they are posting here, since at the time I believe they purchased it anonymously, or are you referring to Stuart Weitzman the previous owner of the coin?  And maybe they know where I can get one of the early Double Eagles for like $1,900, but that's probably like pocket change for them. 

We just know him/her by their registry name, "Elite Collection."  Has made some interesting posts and very courteous, hope he/she sticks around and posts more.  But no, we have no idea who their real identity is (Clark Kent ? ) since they do not want it public to arouse bidding problems for coins they seek out.

I do have the Justice League working on their secret identity and will report back....

On 7/30/2022 at 10:31 AM, EagleRJO said:

As the OP Is there a way to change the title of a thread I started, as the topic has really changed as the thread has progressed.

Yeah, I believe the EDIT function allows that...but don't worry if the most recent posts are different than the earlier ones or the OP/title.

On 7/29/2022 at 6:26 PM, EagleRJO said:

Are the first year 1907 Saints with no moto and the roman numerals on the edge worth a good premium of a little over $500 on top of a typ early 1900's Saint? 

There are 1907 MCMVII High Reliefs.....and 1907 Arabic (1,2,3,.....) numerals.

https://coinmintages.com/saint-gaudens-double-eagle-mintage/

On 7/29/2022 at 10:40 AM, VKurtB said:

I called the very very top of gold in 2011 TO THE DAY, while everyone else was predicting “to the moon”.

But...did you call the subsequent or prior BOTTOMS ? 

On 7/28/2022 at 11:06 PM, EagleRJO said:

So, who is going to take a shot at identifying the low pivot point for bullion, so we can buy Saints at the low? 

I have darts!

Gold rallied the last few days.  Up about 4% or $70. 

On 7/28/2022 at 10:35 PM, EagleRJO said:

Yea, GC seems to have better fees in general, and it seems pretty well run.  That's nice that they waive the seller fees over $1k which a lot of desirable and less common coins probably go for, as well as gold eagles and double eagles.  I posted another thread about finding other auction services like GC, particularly for raw coins which I prefer and which it seems GC doesn't carry, but so far nothing similar. Is the seller fee generally 5% on GC if not waived?

Also, do you buy/sell on any other platforms, and how about raw coins (forget eBay )?

I was unaware of the seller fees since I've only been a buyer.  But if sellers are ALSO paying a commission, that RAISES the price to the buyers.

On 7/28/2022 at 4:06 PM, World Colonial said:

There is no absolute fail safe available, even without the limitation of the gold standard.  Modern economics believes it but it's a lie.  The reason there cannot be one is because ultimately, the state itself is subject to failure.  And no, the United States is not exempt from this comment either.

Maybe....but if it took 30 years for Greece's Socialist nonsense and fiscal gluttony to metastasize, how long will it take for a global financial reserve currency superpower to hit the debt wall ?

You and I won't be around to see it. 

HA and GC charge both the buyer AND seller ?? 

On 7/27/2022 at 11:23 PM, Zebo said:

Ya, but what is that in real money?

100 Mickey Mantle 1952 Topps cards.   

On 7/28/2022 at 7:31 AM, MarkFeld said:

For those of you who aren’t real familiar with 1908-1915 Proof gold coins - in addition to their beauty, original examples of each year offer their own distinct color/appearance/texture. My personal favorite is 1911, which typically displays - as I have seen it described - “crystalline, nearly diamond-like facets”.

Thanks for the heads-up, I'm going to look for some HD pics of a 1911 Proof Saint to see this appearance. 

On 7/28/2022 at 7:31 AM, MarkFeld said:

Numismatists who have examined enough original survivors of each year can determine the date of the coin, just by looking at the reverse. Sadly, so many of these coins have been messed with over the years, that a lot of them have lost their distinctive appearance. That makes Mr. Koessl’s set all the more special.

What do you mean by "messed with", Mark ?  You mean handled or not properly stored ?  I would think these coins went exclusively to hard-core coin collectors who would have properly cared for them, unlike MCMVII HRs where you had lots of ordinary folks mishandle them.

On 7/28/2022 at 8:47 AM, EagleRJO said:

I tend to think it was more of an issue, or actually taking from people, because gold fixed at $20.67/oz since 1834 was way undervalued at the time vs world markets, and they knew that.  If they had first raised the price of gold to something reasonable like $32/oz or $33/oz, which is still a little less than what you could have sold it for in the open world market, and then required people to turn in their gold, I would be okay with that under eminent domain with fair compensation.

Roger's book notes that the low fixed-price meant that gold miners were LOSING $$$ and this reduced the new supply of gold -- which led to a tighter money supply leading to the problems of 1929.

On 7/28/2022 at 9:20 AM, World Colonial said:

I never promised you would like my responses.  Many do not.  What I stated about the EO is accurate. I agree it created a longer-term problem but the worst of it isn't what you stated.  Without this EO, the government we have today couldn't exist.  That's the problem.  Hardly anyone agrees with this statement either, since with a gold standard, no expansionary activist "progressive" government is possible as there is no mechanism to pay for it.  The majority of the population today and in the recent past love activist "progressive" expansionary government, they just want someone else to pay for their "free" benefits.

While a gold standard is a restraint on unlimited government spending, it's not a fail-safe.  The bigger problem is that during a crisis -- 2008 Financial Crisis, 2020 Covid Pandemic -- the central bank is restrained from providing maximum liquidity.  We saw how this worked out in 2011 during the European Debt Debacle.

On 7/28/2022 at 9:20 AM, World Colonial said:

The problem with the civil forfeiture laws is the culture of endemic corruption it will eventually create if left in place.  It's small scale in the context of the economy but the problem isn't specifically the scale, but the incentives in creates in law enforcement to bypass public (budget) accountability and even worse, a mob equivalent shakedown protection racket to extort the public.

I am more worried over too many people getting too many benefits paid for by too few people.  When many tax filers pay NOTHING, it creates a "who cares ?" situation for fiscal responsibility.