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Have a Cigar! Show your Gold Coins!
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338 posts in this topic

51 minutes ago, Cat Bath said:

My 1st sovereign purchase.

I was nervous about the white spots in the picture but they turned out to be lint. (thumbsu

1703609102_5poundsovereign.thumb.png.7fee5ca9e9d524c7664ab2aa417a12e8.png1108697665_5pound1984.thumb.png.3cd48f565891afb3fcc63525680ffa21.png

Lovely... proof-like, too!

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On 3/5/2021 at 6:32 PM, Quintus Arrius said:

"This stops now," means business!

This came about because no matter how kindly the Mod would ask they would receive verbal abuse as a reply.  Most of those DoDos are gone but some have replaced them.  If you were here for the 'War of the Words' (2003-2006) you'd have a better view of the rules.  Also, your 'Constitutional Rights' do NOT apply to private industry.  If that were true Twitless, FakeBook, et al would be out of business by now.  Acceptance is the first step to peace of mind.  

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On 3/6/2021 at 2:27 AM, Quintus Arrius said:

I, perhaps, bit off more than I could chew.  What the young gentleman, who specializes in Ancients at NGC was saying was whatever the auction prices realized at sale at an auction house like Heritage's dictated because they appeal to a vast audience rather than an unusually high price that just happened to have been realized in one sale. 

You ALWAYS want multiple sales prices to avoid using an outlier as the FMV.  Of course, if sales are infrequent and the last sale is 25% higher, something may have changed in the market (maybe the underlying gold or silver price) or maybe on that day there was just an excess of buyers (less likely to happen on HA, a bit more so on GC, more on Ebay).  Then you buy 25% higher and another sale happens in 3 weeks 25% lower and you realize you shouldn't have chased. doh!

On 3/6/2021 at 2:27 AM, Quintus Arrius said:

Yes, you, and I, may have been prepared to go higher but our stratospheric bid is not FMV, only a benchmark of what had been achieved for a specific coin on a specific occasion under what very well may have been a fluke situation.  Cooler heads usually prevail and it is their incremental bidding that counts in auctions -- rather than the price for a coin that just happened to wind up way out there because someone just "had to have it."  In consideration of how FMV is really determined, I must withdraw my objection.  There will always be an upper limit set but it by itself does not establish market value.  I suppose the same could be said for the reverse case where no one's bidding approaches the reserve price af which point lack of sufficient demand is reflected in the negative prices a perfectly good coin fails to achieve and the coin may very well be withdrawn from sale.

I probably watched 1923-D auctions/sales closely (like EVERY week) for 3-4 months as soon as I knew I was going to FUN 2020 and would likely be a buyer.  Before that I had watched a bit less frequently going back years.

People know the market for more liquid, more popular coins like Saints and more so for years or mintmarks that are ALWAYS available like the 1923-D.  Get a rarer coin that only has a few hundred and you can easily see the price bounce around alot.  It's the market pricing as best it can and markets work best when you have lots of sellers and lots of buyers. 

But liquidity in the coin game will never approach that of the financial markets. :)

Edited by GoldFinger1969
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3 hours ago, Alex in PA. said:

This came about because no matter how kindly the Mod would ask they would receive verbal abuse as a reply.  Most of those DoDos are gone but some have replaced them.  If you were here for the 'War of the Words' (2003-2006) you'd have a better view of the rules.  Also, your 'Constitutional Rights' do NOT apply to private industry.  If that were true Twitless, FakeBook, et al would be out of business by now.  Acceptance is the first step to peace of mind.  

No emoji???

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1 hour ago, Alex in PA. said:

I choose to exercise my Rights under the 5th Amendment to the United States Constitution.

1820_NGC_AU53.jpg

1820_Rev.jpg

Never even knew these existed.  I like it.  Nice catch!

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