Irksome info about coins.

Reverenddel · Post by **Reverenddel** » Sat, 04 Jul 2015 11:30:13

I like coins. Not for "SHTF" stuff, but just regular collecting. I think they're lil' pieces of history, and art in metal.

What irks me. When spot is high, coin dealers sell on "spot" prices... when it's SUPER low? They sell on "numismatic" prices. I understand it's a business, but selling a coin higher than spot by double, and TRIPLE the price because it's "Pretty", and "in good shape"?

Pass.

Just wanted to vent that little issues. Thanks.

Post by **allingeneral** » Sat, 04 Jul 2015 11:56:30

Reverenddel wrote:I like coins. Not for "SHTF" stuff, but just regular collecting. I think they're lil' pieces of history, and art in metal.

Nice perspective!

Snakester · Post by **Snakester** » Sat, 04 Jul 2015 13:08:50

And when the spot price is LOW they never want to pay the numismatic price...It's spot or even less.

ShotgunBlast · Post by **ShotgunBlast** » Sat, 04 Jul 2015 15:31:34

I think it's because the local coin dealers don't do enough in coin business. They tend to be a pawn shop or gold broker that also sells coins. A gas station doesn't sell you gasoline based on how much they paid for what they currently have but how much it'll cost to replace what you're taking. This method works fine because gas stations always have customers to purchase the product.

The local coin dealers I've interacted with on the other hand tend not to place orders to replace what they're selling today. They get into a coin for $20 because spot is high, but won't let it go for less than they got into it because they're not actively placing orders to replace inventory when it is sold.

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FiremanBob · Post by **FiremanBob** » Sat, 04 Jul 2015 15:45:26

When spot is low, don't sell to dealers. Sell to collectors. Better, don't sell at all. When spot is low, buy buy buy. Coins are often sold a local estate auctions. These tend to be relatively competitive and free, with dealers making up much of your competition.

Swampman · Post by **Swampman** » Sat, 04 Jul 2015 19:07:35

"When spot is low, buy buy buy." Just like stocks.

Reverenddel · Post by **Reverenddel** » Sun, 05 Jul 2015 11:52:57

The funniest comment I have gotten from a coin dealer? "Why do you have all those foreign coins?"

Hey! Because they're kinda COOL!

Ironbear · Post by **Ironbear** » Sun, 05 Jul 2015 14:59:25

Not just coin dealers... dealers in anything "collectible" seem to be tuned into some alternative reality frequency.

Snakester · Post by **Snakester** » Sun, 05 Jul 2015 18:14:17

Reverenddel wrote:The funniest comment I have gotten from a coin dealer? "Why do you have all those foreign coins?"

Hey! Because they're kinda COOL!

I agree !!! I have a Damn Fine collection of Italy 20 Lire , " Umberto's" and France 20 Franc "Rooster's". Adding to them all the time. I like these because they are always available and are really easy to sell !

scott9050 · Post by **scott9050** » Mon, 06 Jul 2015 07:41:16

Reverenddel wrote:I like coins. Not for "SHTF" stuff, but just regular collecting. I think they're lil' pieces of history, and art in metal.

What irks me. When spot is high, coin dealers sell on "spot" prices... when it's SUPER low? They sell on "numismatic" prices. I understand it's a business, but selling a coin higher than spot by double, and TRIPLE the price because it's "Pretty", and "in good shape"?

Pass.

Just wanted to vent that little issues. Thanks.

Which coins are you talking about? I have collected coins since 1980, condition is everything and some coins are going to be higher depending on which is higher, spot silver or Numismatic value. Common date Morgan dollars are a good example of that. Of course well worn examples will be cheaper and mint state examples with good luster and strike will always command a premium.

Reverenddel · Post by **Reverenddel** » Mon, 06 Jul 2015 08:06:08

All sorts of "junk silvers" that end up in my collection. I have a thing for Morgan Silver Dollars from the New Orleans Mint.

How can you not love the fact they shut a mint down because of ...PIRATES?

New Orleans was CREATED by Pirates, and yet it doesn't occur to them when they place a mint there.

Also talking about some older foreign coins on the "spot" rise. British coins had silver in them as well. I have some sheckels that I swear are made of bronze, and aluminum. Most odd material ever.

scott9050 · Post by **scott9050** » Mon, 06 Jul 2015 09:31:32

Foreign coins aren't my specialty but I do collect Roman and Byzantine with a few Greek and Pontius Pilate coins thrown in for good measure. Oldest coin I have is Persian sigloi from about the 5th century B.C.
I used to have a rather large collection of MS Morgans with quite a few DMPL cameo coins. I get bored with a collection, sell then start over again.

Reverenddel · Post by **Reverenddel** » Mon, 06 Jul 2015 22:03:07

Nice! I haven't been into the older/ancient coins, I've heard they were rather difficult to get, and people act like they're holding the holy grail.

I wouldn't mind getting some from the 1700's in Virginia. I love my commonwealth, even though it's residents resoundingly irritate me in certain regions. <AHEM-NOVA>

My question, I don't really order online, just never had a need to do so, I usually pick them up from local dealers, or that nice old guy at the gun show.

People always have an opinion, but APMEX, and JM Bullion keep coming up as the "go to" guys for the "precious", but I haven't seen squat for foreign, or older coins. Any suggestions?

Snakester · Post by **Snakester** » Mon, 06 Jul 2015 23:08:54

I stay away from Coin Dealers altogether . I can't stand dealing with someone that acts like he is doing me a favor. When I use to go to gun shows regularly I always was looking for unusual coins. I have bought lots of Silver Coins on eBay , if they had Free Shipping...I would put a comfortable bid and if I got it ...Fine.

I now mostly buy Bags of Junk Silver Half Dollars. I have several friends that buy from me because they don't want to deal with on line Buying.

Earlier this year I went to a Mini Storage Auction in Glen Allen. I won the first locker for $70.00. I only bid because it had a new 8' Fiberglass Ladder and a nice looking tackle box....It didn't have any old wooden Lures but , it did have this nice pile of Coins.

scott9050 · Post by **scott9050** » Tue, 07 Jul 2015 07:18:13

Reverenddel wrote:Nice! I haven't been into the older/ancient coins, I've heard they were rather difficult to get, and people act like they're holding the holy grail.

I wouldn't mind getting some from the 1700's in Virginia. I love my commonwealth, even though it's residents resoundingly irritate me in certain regions. <AHEM-NOVA>

My question, I don't really order online, just never had a need to do so, I usually pick them up from local dealers, or that nice old guy at the gun show.

People always have an opinion, but APMEX, and JM Bullion keep coming up as the "go to" guys for the "precious", but I haven't seen squat for foreign, or older coins. Any suggestions?

As far as ancients go, no better place than here:

http://www.forumancientcoins.com/

Ebay is becoming a breeding ground for Chinese fakes of just about everything imaginable. They are even faking CC Morgan dollars and their GSA holders as well as PCGS and NGC holders. There is a decent coin shop in Manassas off of Liberia avenue near the PW Parkway:

http://classiccoinsandcollectibles.com/

Usually a good selection and reasonable prices. Their hours are very limited though.

ShotgunBlast · Post by **ShotgunBlast** » Tue, 07 Jul 2015 15:07:18

US mint just announced it is out of silver eagles because 1.6 million coins were purchased within the last week. Won't be any in stock for two weeks.

What does it say that our government only has 1.6 million coins on hand? Yikes.

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Reverenddel · Post by **Reverenddel** » Tue, 07 Jul 2015 22:07:16

What does that say about people BUYING 1.6 million coins of BULLION!?!? Ask THAT question!

Reverenddel · Post by **Reverenddel** » Sat, 11 Jul 2015 15:26:21

Reading about some of the coins in my coin collection got me to thinking.

Quite a few are DEMONATARIZED! So in affect, the guv'mint came in, and made it "pretty pocket art", with no value if not precious metal. And I looked at the cash in my pocket.

And Greece....

And got an effin' headache. BECAUSE... if the Fed changes script, and makes OLD money demonatirzed, and the guv'mint makes owning precious metals a felony again (F"CKYOU ROOSEVELT!), and they control ATM/banks...

People, stock up on food, ammo, and hide your precious metals. It feels a bit "Greek" in the U.S.A. lately!

Snakester · Post by **Snakester** » Sat, 11 Jul 2015 17:30:14

I've got about 600 lbs. of Silver that I will melt down and cast into 45 / 50 and 58 Cal. Bullets before I ever turn any over to the Gov't....I guess I will have to take up Vampire Hunting ! I need to shoot my Muzzle Loaders more anyhow !

Reverenddel · Post by **Reverenddel** » Sun, 12 Jul 2015 15:55:02

It'll feel like a sequel to "Pirates of the Caribbean" with so much precious metals buried in this country.

LAST time they did it, people BELIEVED in the U.S. Guv'mint. Not so sure this time!

Might have a "boating accident". So much guns, and gold in Lake Anna it might form an ISLAND!

Virginia Gun Owners Forum - VGOF

Irksome info about coins.

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