A Letter from Mark Salzberg 0

[kbbpll]

1 hour ago, Voltyris said:

Bullion Gold Coins are a nice way for investors

This is where I always feel like a dolt. I never see these "bullion gold coins" selling anywhere near actual gold price when they come out. Like, right now US Mint is selling 1 oz Buffaloes ($2415) and AE's ($2375), and gold is at $1712. 40% above gold price. Why not just buy gold if you're speculating? "Numismatic value" is such a crapshoot - I mean you can go back 120-140 years to some of the $10 gold in low MS and they're still not worth 40% over gold price. Moderns are pretty and cool and all that, but the "investing" side I just don't get.

[Voltyris]

1 hour ago, kbbpll said:

This is where I always feel like a dolt. I never see these "bullion gold coins" selling anywhere near actual gold price when they come out. Like, right now US Mint is selling 1 oz Buffaloes ($2415) and AE's ($2375), and gold is at $1712. 40% above gold price. Why not just buy gold if you're speculating? "Numismatic value" is such a crapshoot - I mean you can go back 120-140 years to some of the $10 gold in low MS and they're still not worth 40% over gold price. Moderns are pretty and cool and all that, but the "investing" side I just don't get.

Haha the US Mint is a fraud. You can get an American Eagle: $1,866 / Buffalo: $1,845.74. So $129-150 above current gold price ($1,716).

Anyway, It's why I said, Bullion Gold Coins are a nice way, rather than the best way, you must obtain them with a reasonable premium. 

The best way is the direct way, via something like BullionVault, or similar companies. You buy your Gold online, and it's all good and secure.

No need to dig up your garden and hide the coins, bars and stuff like that. Only for us to hear about how a dog found the stash a hundred years later while playing in the garden. Wasn't this the way things were done in the good old days? Where do they hide now them, banks eh : )

Edited May 6, 2020 by Voltyris

[Revenant]

4 hours ago, Voltyris said:

 

No need to dig up your garden and hide the coins, bars and stuff like that. Only for us to hear about how a dog found the stash a hundred years later while playing in the garden. Wasn't this the way things were done in the good old days? Where do they hide now them, banks eh : )

In the r/Silverbugs Reddit the recurring joke is that the silver is lost in a "boating accident."

[Revenant]

8 hours ago, Just Bob said:

You didn't get one for yourself? 

I didn't say that... But I won't crash the thread too much. I'll say something more later.

[GoldFinger1969]

8 hours ago, kbbpll said:

This is where I always feel like a dolt. I never see these "bullion gold coins" selling anywhere near actual gold price when they come out. Like, right now US Mint is selling 1 oz Buffaloes ($2415) and AE's ($2375), and gold is at $1712. 40% above gold price. Why not just buy gold if you're speculating? "Numismatic value" is such a crapshoot - I mean you can go back 120-140 years to some of the $10 gold in low MS and they're still not worth 40% over gold price. Moderns are pretty and cool and all that, but the "investing" side I just don't get.

It's tough to use the current period because instead of the current economic crisis driving up the price of gold, gold coin production has ceased or been interrupted and this has resulted in a gold selling at a premium (silver too).

I do believe you can see auction sites selling modern gold coins (bullion) at reasonable premiums to spot gold.  Heck, I saw 1 oz. .9999 fine gold coins not getting bids at $1,800 an ounce (PF70 and DCAM, too !)

Don't forget, slabbed and graded coins will go for more usually and ditto proofs.

[Voltyris]

7 hours ago, GoldFinger1969 said:

It's tough to use the current period because instead of the current economic crisis driving up the price of gold, gold coin production has ceased or been interrupted and this has resulted in a gold selling at a premium (silver too).

I do believe you can see auction sites selling modern gold coins (bullion) at reasonable premiums to spot gold.  Heck, I saw 1 oz. .9999 fine gold coins not getting bids at $1,800 an ounce (PF70 and DCAM, too !)

Don't forget, slabbed and graded coins will go for more usually and ditto proofs.

True. They're available now via online dealers like APMEX & JMbullion for the prices I mentioned previously. The reasonable premium. Everything was out of stock for a while but now they're in stock. PF & DCAM included, with a price difference ranging in tens of dollars from the regulars. 

Edited May 6, 2020 by Voltyris

[GoldFinger1969]

44 minutes ago, Voltyris said:

True. They're available now via online dealers like APMEX & JMbullion for the prices I mentioned previously. The reasonable premium. Everything was out of stock for a while but now they're in stock. PF & DCAM included, with a price difference ranging in tens of dollars from the regulars. 

I love some of the Mint moderns, and they weren't getting bids at $1,800 when gold was a bit lower.  Now that gold crossed $1,700 -- they're getting bids. 

[oceanbert]

How many people have you cheated so far this year.  I have contacted your customer service three times about being charge twice for a my first submission.  So far no answer so I have to assume I am not the only one that you have cheated.

[oceanbert]

On 5/4/2020 at 12:09 PM, Ronniegoforth said:

can anyone tell me when phone calls to customer service will start back?? i am an older person and want to speak to a real person. not type emails. where is the customer service to answer questions? 

Go luck with reaching someone, I have sent three emails and gotten zero answers. 

[Revenant]

On 5/6/2020 at 5:29 PM, GoldFinger1969 said:

I love some of the Mint moderns, and they weren't getting bids at $1,800 when gold was a bit lower.  Now that gold crossed $1,700 -- they're getting bids. 

Funny how that works. I had a seller asking a silly-high price for a common date 10G I wanted because as he put it, "Gold is going up so much every day." That was about 8 months ago now and, yeah, gold is marginally higher, but it still isn't high enough to bring the price of that coin in line with typical pricing for the series - which is usually like bullion, melt + a modest percentage.

[Voltyris]

On 5/11/2020 at 2:59 AM, oceanbert said:

Go luck with reaching someone, I have sent three emails and gotten zero answers. 

But NGC remains fully operational! Not a single phone wire down.

 

[GoldFinger1969]

On 5/10/2020 at 8:59 PM, oceanbert said:

Go luck with reaching someone, I have sent three emails and gotten zero answers. 

They're short-handed, Ocean, cut them some slack.