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Everything posted by World Colonial
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Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
You seem to have a different definition of "well heeled". I've spent $12K since I first bought from them in 2006 on 42 lots (three multi-coin). Most were somewhat over $100 or less but these aren't available elsewhere hardly ever. In my experience, the coins are usually somewhat nicer than the picture. I don't recall buying a coin from them which was noticeably worse. I've bought far fewer coins from Stacks but the amount I've spent isn't much less. Heritage hasn't offered much in my series in recent years. -
Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
I bought one coin at the 2020 ANA in ATL for about $700. That's the most I've spent at any show. Usually, it's about $300 but it's low-priced coins for my secondary collections. 2020 ANA was the first time I ever saw anything at a show in my primary I wanted to buy. Your posts indicate you buy "investment" coinage which differs from me. If I bought what you do, I'd have a somewhat different philosophy. Since I buy "collector" coins, I don't "save up" and almost never dip into my savings. Once I save money, it stays there. I've dipped into savings a few times recently to avoid missing out on coins I really wanted, but otherwise, I pay myself first and only use what's left over. This means I have to meet my savings target for the year. I may not meet it, but it's not going to be because I went on a coin buying "binge". I also don't buy "big ticket" coins either. I may do that after I retire when I don't have to work for the money, but I'm not about to forgo saving for months to buy a coin. -
Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
If the coins I collect were readily available, I'd usually buy it at a local dealer or show, depending upon price. I've bought a few coins at shows, but don't bother with local dealers for what I buy. -
Resorting to the "printing press" ultimately means both the government's credit and the national currency are destroyed, instead of just credit. When markets lose confidence in the currency, it will be irrelevant whether the government defaults explicitly or through the printing press. The end result is still declining or crashing domestic living standards for most of the population. The foreign exchange value of the USD is the most critical indicator. As a proxy, the DXY is around 101 now. The key level is the 2008 low of 70. So yes, there is some latitude but not as much as most believe. Before it gets to this point though, I expect numerous "unorthodox" actions by the USG or any other developed country government. As for the OP's question, doesn't really have anything to do with it. The coin market price level for the more expensive coinage anyway is contingent upon the broader asset mania.
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I don't think it would make any difference, at this time. If it did, it's a psychological reaction. Everyone knows the USG can always pay its debts by "printing" if necessary. At some point contrary to conventional wisdom, the USG probably will be better off defaulting versus destroying the currency. But first, I expect many other "policy changes" which will include "technical defaults".
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Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
I know it can be bought elsewhere for less. That's my point. I have no idea why anyone consigns coins in this price range to Heritage, US or otherwise. I've bought coins from them when the minimum fee was lower where the fee was still almost as much as the hammer. -
Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
Yes, maybe some US modern in a particular grade (TPG label) as a "special designation strike": FB/FT FDR dime or FS nickel. Other than that, I can't think of even one US coin where this applies where the minimum Heritage buyer's fee is a factor. We're talking sub-$100 coins or maybe slightly above it. US coins are too common where it cannot be found elsewhere, almost always on short notice or right now. Just buy it on eBay. -
Central States inventory
World Colonial replied to powermad5000's topic in Newbie Coin Collecting Questions
In US material, what exactly does Heritage offer that can't be found (in multiple) somewhere else? I've bought low-priced coins (below $100) from Heritage several times, but it was world coins which are difficult to find elsewhere. -
Star Rating Consideration
World Colonial replied to Henri Charriere's topic in US, World, and Ancient Coins
I'm still waiting for @, #, $, %. ^. &, and - (minus). I could add a few more too. It's on my keyboard. -
Interesting article on silver
World Colonial replied to Zebo's topic in US, World, and Ancient Coins
That's why this rationalization (exactly what it was) in the 80's and 90's didn't change the outcome. The price can increase or decrease a lot without a corresponding change in the supply. It can change a lot with essentially no change in supply. All it takes is buyers willing to pay a lot more. As an "investment" asset, the price of gold and silver is psychologically determined. This is true of all asset prices. With most (not all) goods and services, higher prices = lower demand. That's what is written in economic textbooks, or at least the ones I used and read. The opposite is true with "investments". Demand is higher than ever recently, even as practically all asset classes are more expensive versus the past. Higher prices increase demand. -
Interesting article on silver
World Colonial replied to Zebo's topic in US, World, and Ancient Coins
India has been one of the biggest silver buyers for a long time. Nothing new in that. It's commonly purchased for wedding related gifts, or so I've heard. -
Do you have a direction in the hobby?
World Colonial replied to ldhair's topic in US, World, and Ancient Coins
I've seen most of the coins I don't have as dreck, but not otherwise and only a few times, as in very infrequently. Also a few upgrades or coins I don't have that I either was an underbidder, chose not to bid on due to budget limits, or did not know about but found out about later. Of the 86 Peru coins in these four denominations, here is what I have with none dreck: 1/2R: 12 dates, two details, two AU, eight MS up to MS-65, and several duplicates also AU or MS 1R: 11 dates, one AU details, one F-12, one XF, one AU-58, seven MS, and several duplicates including AU and MS. 2R: 11 dates, 2 details, one VF, two XF, one AU-50, one AU-55, one AU-58, and four MS, and several duplicates but not as nice as the others 4R: Six dates, two AU details, three XF-45, and one AU-53 So, 33 out of 86 numerically graded or 40 including details. Total TPG coins = 62. Including raw coin which I do not count because I am looking for an acceptable coin, five more. These aren't dreck either but not good enough. This is in 13 years of making it my primary series and slightly over 20 total, though I was not aware of all the sources the whole time or looking very hard prior to 2010. -
Do you have a direction in the hobby?
World Colonial replied to ldhair's topic in US, World, and Ancient Coins
Correct. It's a matter of waiting long enough for the coins to be offered for sale. I haven't tried the private sale route - yet - by approaching one or more dealers to actively find coins for me. One PCGS forum member just bought the 1765 Peru NGC MS-62 4R. I saw it show up in the NGC census last year and sometimes the grading event coincides with a proximate sale, but not usually. I don't have the budget for a coin like it and lower quality examples don't show up hardly ever either. -
Who Will Be the Next Q. David Bowers in Numismatics?
World Colonial replied to Tyrock's topic in US, World, and Ancient Coins
How soon and how likely is that for the (vast) majority? By this, I mean that it's so "dated" that it "needs" updating. US coinage seems to be the most researched and written by a large margin. Maybe followed by British, ancients, and German? -
Do you have a direction in the hobby?
World Colonial replied to ldhair's topic in US, World, and Ancient Coins
Yes, to complete the Lima and Potosi pillar series to the extent possible. That's where all my coin budget has been going and if I choose to stick with it, no realistic prospect I'll have to think about starting another major project; not enough coin budget. Main reason I would is the inability to find coins I do not have. I've been fortunate to buy 10 in the last six months or so (a few duplicates) but that's the first time I've ever seen anywhere near this many I wanted to buy in such close proximity. Lost out on a few others too. -
$1 trillion platinum coin, anyone?
World Colonial replied to DSessom's topic in US, World, and Ancient Coins
Another farce -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
I'd describe Citicorp as a quasi-zombie bank. It's doing ok now but I consider its franchise weak. Believe they have drastically shrunk their global footprint. -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
It's based in London and has been for years. Depends upon what you mean by "no longer British", as it's a public company and I have no idea who are the primary shareholders now. Hong Kong and China are and have been its most important markets. -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
The worst "gold bug" I ever encountered was on the South Africa BoB Forum. I have never encountered anyone else who made such outlandish implied price forecasts and used such irrelevant ridiculous "evidence" to "support" their claims. In one thread, he was double posting, as both himself and using a second troll ID. In one post, he implied not using fiat currency at all. I asked him if he had a bank account, used credit, received his income in gold and silver, and bartered. The response? Crickets. The conversation was completely absurd. -
Another Coin Found In My Inventory
World Colonial replied to Errorists's topic in US, World, and Ancient Coins
Except that it isn't. Compare it to the relatively few MS-68 or even numerous MS-67. -
Another Coin Found In My Inventory
World Colonial replied to Errorists's topic in US, World, and Ancient Coins
There isn't a single FDR dime in 69 or 70, at least with this date or prior, not at NGC or PCGS. -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
This would be consistent with my claim that most Americans are destined to become poorer or a lot poorer. Only a small minority will be on the receiving side of that. Everyone else will be paying "through the nose". -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
Yes, that's for common widgets with low or relatively low premiums. Lower if any correlation for the common date US $20 Assay Office Territorial gold. I haven't charted it, just an observation. -
The Case For $3,000 Gold
World Colonial replied to GoldFinger1969's topic in US, World, and Ancient Coins
I wasn't referring to you. I was referring to how "fundamentals" are generically used to rationalize a position.