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E-Newsletter responses 2

From the Oct. 18 Numismatic News E-Newsletter:

The U.S. Mint has resumed selling some of its bullion coins but at higher prices. Will you be more or less likely to buy them now?

Here are the answers sent from our e-newsletter readers to Editor Dave Harper.


Believe I will stay with the silver purchases, but not the gold now. This may be stupid, but who knows for sure on anything anymore.

Griff Carnes
Kerrville, Texas

I will not buy bullion coins from the U.S. Mint. Much too high. If I were to buy bullion coins for an investment I would directly from a bullion dealer, which is usually about 3 percent over market.    The U.S. Mint is becoming too greedy with their issues, a big disappointment to me.

Edward J. Moschetti
Pittsburgh, Pa.

There is no way that I would purchase the new bullion coins.  They are very much over priced.

Skip Foster
Knoxville, Tenn.

As any prudent consumer should know, buy as close to spot as possible!  The offering of various types of ?bullion? coins does not necessarily warrant higher premiums based on mintage. Sure it?s great to amass a collection of one of each, and if your budget is limitless, then go for it!  For the more pragmatic collector, passing on bullion coins in order to complete a collection of actual legal tender coins seems to be much more reasonable in the long run.  In the end, should the economy dictate, there will still be those who are willing to pay more for rare tender than bullion, which will always still be valued just above the going spot.

Dan Whitaker
Wheeling, W. Va.

The only way the continued sale of gold dollars is going to work is to move the price both up and down on some prearranged plan. It may be a bit confusing at first, but set a price weekly. Also have an increment such as $10-20 before the price changes from week to week. But absolutely reset the price weekly even if it doesn?t change.

Ludy E. Langer
Sacramento, Calif.

No, I will not buy at the higher price of bullion from the Mint.

Edward Majzlik
Dearborn, Mich.

Just another chance for the government to stick it to the collector. Do you really think their expenses went up just because the price of gold did? They?re sitting on a lot of the world?s gold supply, why the need to raise the price? If gold goes way down, will the prices that the government charges go way down? I don?t think so.

Doug Jennings
Petersburg, Mich.

I am happy to say that I have already purchased them before the price increase. I am under the impression that bullion will even go higher and that in itself will lead to additional buying and interest with the public. I think this will have a profound impact on the key coin the 2006-W burnished coins and prices will rise again.

R. Dennis Bradley
Shrewsbury, Mass.

I hope the new price hike will slow the sale of gold Eagles, thus increasing the collectibility of those sold.

Rich Borowick
Peoria, Ariz.

I am probably less likely to buy any gold bullion now as I really only buy when the market is much lower than its present level.  I always buy silver bullion and will continue to do so.

 Paul Laverdiere
Green Bay, Wis.

No, Dave, I am going the other way. I am in the process of inventorying all my gold bullion and I am going to sell it to the dealer who gives me the best price.  Since all my gold was purchased for less than $200, I figure this would be a nice profit. I will keep the gold coins, though, as I believe their value will continue to climb.
 

Jim Glick
Olympia, Wash.

Since the Mint is raising prices I will not be buying any. They make enough money now.

William Yanosh
Albany, Ga.

No, I will not be adding to my bullion holdings at this time.

Richard Lelivelt
Sierra Vista, Ariz.

I am probably less likely to buy any gold bullion now as I really only buy when the market is much lower than its present level. I always buy silver bullion and will continue to do so.
 

Paul Laverdiere
Green Bay, Wis.

I have been collecting U.S. coins now for about four years. In response to your article, I don?t think I will be buying any of the U.S. Mint bullion coins. I won?t because most of the coin designs in my opinion are mostly modern renditions of classic coin designs. In addition, the coin?s overall value depends on the current market value of the metal that the coin is made of. As a result, I don?t think I will be buying any new bullion coins.

Eric Kreszl
Little Silver N.J.

Being retired on a small and fixed income, I cannot afford to purchase any bullion coins other than silver.

William Kitching
Swansea, S.C.

NO on bullion. Plenty of other coins that are more affordable to buy out there.

George Bennett
Plano, Ill.

I will not buy from the Mint right away. I will hold off and watch the market.

Robert W. Long
Claremont, N.H.

I will be less likely to order them now that the Mint has raised prices. They are always trying to make a buck off the numismatists.

Donald D. Winner
Ruskin, Fla.

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