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Collectors get buying opportunity

If you are an investor, right now you might feel like you should run for the hills. If you are a collector, you should be preparing to buy. The price of gold and silver continue to sink, taking the value of all but the scarce to rare coins with it.

Gold is way below the $1,300 per ounce benchmark, while silver is threatening to go below $16. The scarce to rare coins appear to be trading horizontally for the most part. However, there are dips in values appearing without any particular pattern for specific dates as well. To sum up this current activity, this is a serious buying opportunity! As with any buying opportunity, the challenge is to find the coins. Many sources that normally might be selling will become more hesitant at the increasingly depressed prices.

There is an old saying that you should buy low and sell high. You’d think that would prompt people to buy now. Instead I am receiving reports of selling that is exceeding demand. One seller, as an example, recently dumped six Julia Tyler First Spouse $10 half-ounce gold coins each grading Professional Coin Grading Service MS-70. The sudden increase in supply caused a price decline.

If you seek top-of-the-line condition or date and mintmark rarity, expect to still pay premium prices for these premium value coins, but otherwise as a collector, the best thing to say is: “Have at it.”

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

More Collecting Resources

• Purchase your copy of The Essential Guide to Investing in Precious Metals today to get started on making all the right investing decisions.

• Download The Metal Mania Seminar with David Harper to learn more about the metals market.

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