Numismatic Liquidation?!

[LargoWinch]

Re: Numismatic Liquidation?!

As far as gold numismatic prices, we were aware that recently, but only for a brief period, a wide range of $20 gold numismatics fell in price even as gold bullion prices increased in price, all except for MS63 grade. The reason is that a company took possession of approximately $30 million of these coins. They took several weeks to sell through, during which time prices fell.

Sweet turtle!

Is there an asset class within an asset class you are not aware of FRED?

[grapejelly]

Re: Numismatic Liquidation?!

Master grapejelly's back!

Regarding the point above, Gold Maple have a $50 legal tender value, which means that you can carry * in theory * over $200,000 worth of fiat, while remaining under the "$10,000" (legal tender allowed for travel) threshold. Or perhaps I am missing something GJ?

well, LW, we are talking about two things. One is a technical exemption from a law, another is an impression we are making. If we are trying to move across borders with bullion, moving with collectibles in those coin books is pretty standard, while moving bullion in, say, rolls, might raise some eyebrows.

[Beavus]

Re: Numismatic Liquidation?!

So noted, what happens when a party does something similar in the future? It would appear that the market for numismatics is very thin, and any hefty player can sway prices. $30 Million is not a lot of money and it seems that the impact on this narrow segment of the market was profound.

A friend pointed out something similar to what your saying that opend my eyes to what could happen to the gold market. Compare the size of the gold market to the tech market or the auto market or? There is going to be a huge flood of persons getting in on the gold market. If the 30mil up top caused a bump for 2 weeks, what is the gold market going to look like next year when the investors doubles, or triples?

Will it matter what kind of coin or bar you own? Well, if they confiscate again, gold stocks did amazing the last time our government did that (1930s).

[grapejelly]

Re: Numismatic Liquidation?!

A friend pointed out something similar to what your saying that opend my eyes to what could happen to the gold market. Compare the size of the gold market to the tech market or the auto market or? There is going to be a huge flood of persons getting in on the gold market. If the 30mil up top caused a bump for 2 weeks, what is the gold market going to look like next year when the investors doubles, or triples?

Will it matter what kind of coin or bar you own? Well, if they confiscate again, gold stocks did amazing the last time our government did that (1930s).

1. The silver market is ridiculously thin. Insane how little silver there really is. Even worse than gold.

2. I don't see numismatics ever going mainstream at least in this type of environment. They peaked in real terms I think in the 1970s when the US was not in debt to the whole world. Now it's bullion, baby!

3. You can't compare the 1930s to today because of the dual differences of confiscation, and the international gold standard.

[BadJuju]

Re: Numismatic Liquidation?!

I had a dream about coins last night and was asked if I were a numismatist. I blame it on this thread.

[Jay]

Re: Numismatic Liquidation?!

I just spread it out. Bullion coins and bars of all types, bought as cheaply as possible, and some high end older numismatics. I also have a few newer "numismatics" mostly because they are real purty. I like the buffalo proof and ultra high relief double. I guess those are my one deference to a semi-consumeristic pleasure. Some GTU, and soon bullionvault. I'll let it play out as it does and be covered in most directions. I've got too many things to worry about otherwise to time anything. Slow and steady wealth is my motto.

[FRED]

Re: Numismatic Liquidation?!

Next time you have news of a whale making a move, please tip me off.

Okay, will do so.