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Dump numismatic stuff??
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Thread: Dump numismatic stuff??

  1. #1
    Join Date
    Oct 2008
    Location
    USA
    Posts
    358

    Default Dump numismatic stuff??

    I've been collecting coins for a short time now, which lead me to bullion. Lately I've been thinking of selling the numi stuff and buying more Au and Ag. Sorting through all the junk that's out there, overgraded, fakes, etc. gets very frustrating. Also, I realized that even if I do put a set together, I'll never be able to shell out the cash for the key dates, especially when I compare that to how much PMs that would buy. So, keep what numi I got and forget about it for now, or sell for PM?

  2. #2
    Join Date
    Dec 2008
    Location
    Florida
    Posts
    1,120

    Default

    Quote Originally Posted by PSUDave View Post
    I've been collecting coins for a short time now, which lead me to bullion. Lately I've been thinking of selling the numi stuff and buying more Au and Ag. Sorting through all the junk that's out there, overgraded, fakes, etc. gets very frustrating. Also, I realized that even if I do put a set together, I'll never be able to shell out the cash for the key dates, especially when I compare that to how much PMs that would buy. So, keep what numi I got and forget about it for now, or sell for PM?
    Now is the perfect time to get rid of those coins! Numismatic will soon fall from grace, and will bring no more than bullion. Most coins, with the exception of a very few extremely rare or spectacular ones, will quickly become plain old "junk".

    To cansh out and buy into bullion is a smart move IMHO. Unless you have some special affinity for one or two coins, I would say get rid of them now, while you can stll get a premium for them.

    It will mean a huge increase in your bullion holdings.
    "Information spreads at the speed of light, while ignorance is instantaneous at all points in the known universe"

  3. #3
    Join Date
    Nov 2008
    Posts
    21

    Default

    I've already got rid of my numismatic stuff and gone after bullion.

  4. #4
    sunsetcliff Guest

    Default

    any piece bought or sold can be a shrewd move.

    my mistake tho is- that when I churn I eat the spread. which only cuts into the oz. so thats not good.

    so if you have a buyer then fine. but if the price is too low- then dont.

  5. #5
    Join Date
    Jan 2008
    Location
    Fly-over country, South Dakota. The heart of the USA
    Posts
    1,404

    Default Just Do IT!!!

    YEAH, It is time to get rid of numismatics and buy the life-saving bullion.
    Only the hugely rich will be able to deal in numi's that hold any value worth considering numismatic.
    That is the bottom end of numismatics, like current $50 Morgan dollars will become the same as bullion or common dollars. Common dollars hold a premium now and I have already dumped some for .999 bullion. I keep 90% halves and quarters though for the advantage of the smaller chunk o' silver.
    I wish I could say that hobby numi's will still be around when silver is over $100, but I don't want to be a liar.
    Tellin' it like I foresee it,
    Darth Bullion
    nah, it's just me, JesterJay


    Quote Originally Posted by sunsetcliff View Post
    any piece bought or sold can be a shrewd move.

    my mistake tho is- that when I churn I eat the spread. which only cuts into the oz. so thats not good.

    so if you have a buyer then fine. but if the price is too low- then dont.
    Last edited by JesterJay; 15th February 2009 at 20:03. Reason: Now watch someone steal the name "Darth Bullion". Dang, I should change my name!!! 2-15-09.
    If you don't GOT it, You don't GET it!

  6. #6
    Ardent Listener Guest

    Default

    Quote Originally Posted by Ancona View Post
    Now is the perfect time to get rid of those coins! Numismatic will soon fall from grace, and will bring no more than bullion. Most coins, with the exception of a very few extremely rare or spectacular ones, will quickly become plain old "junk".

    To cash out and buy into bullion is a smart move IMHO. Unless you have some special affinity for one or two coins, I would say get rid of them now, while you can stll get a premium for them.

    It will mean a huge increase in your bullion holdings.
    I third that. As Ancona said, if you have a rare silver dollar or some other coin from your grandfather then maybe you ought to keep it. But like rare clocks when the **** hits the fan there is not going to be a market for either.

  7. #7
    Join Date
    Apr 2008
    Posts
    591

    Default

    I don't buy the "numismatics is going to die" thing. I have heard it said coin collecting is hugely popular. There are plenty of shops dedicated to this ONE hobby. Coin collecting is not doing badly, even in this recession. I think that people will always want to collect at all price levels, and don't forget, if a whole bunch of cons are melted and later desired, the price will go up......

  8. #8
    chux03 Guest

    Default

    Imagine that....all these silver bullion freaks telling you to sell numis and buy bullion. Well, here's another silver freak that agrees with them. They're right!! Time to cash out and re-buy back in at the cheapest per ounce price you can find. Better hurry....

  9. #9
    Join Date
    Feb 2008
    Location
    Manistee National Forest
    Posts
    226

    Default

    A good friend of mine is a coin collector who turns his nose up at us bullion commoners, I've been out buying with him and to be honest I woulden't give five bucks for the coins and proof sets he pays hundreds for.
    Collectables are only worth something to somebody who thinks just like you do, to the rest of us its like "who cares".
    I say dump em and get bars.
    if you don't hold it, you don't own it.

  10. #10
    Join Date
    Oct 2008
    Location
    USA
    Posts
    358

    Default

    Quote Originally Posted by clr8ter View Post
    I don't buy the "numismatics is going to die" thing. I have heard it said coin collecting is hugely popular. There are plenty of shops dedicated to this ONE hobby. Coin collecting is not doing badly, even in this recession. I think that people will always want to collect at all price levels, and don't forget, if a whole bunch of cons are melted and later desired, the price will go up......
    I agree, numismatics isn't going to die. As long as there are coins, someone is going to collect them, always have, always will. I also don't believe that we will have to use silver to barter. I just hate having to put on the chest waders to get through all the bs that's out there in the market. I've been going thru my collection, picking the stuff to sell, and there's some stuff I'll keep. Shifting my focus, quantity in bullion, quality in numi.

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