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#1
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Would you sell cards to buy gold or silver coins?
I saw this topic on another message board and it seemed interesting, so ill ask. to help as a hedge for inflation, hyperinflation or to protect against a possible declining dollar, do you think its a good idea to sell some cards that you might no longer want in your collection and use that money to invest/buy us american eagle silver dollars or us gold coins? pretty much flipping sports cards for us gold/silver coins. thanks
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#2
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Diversification is always a good thing in my opinion. I don't know about the doomsday scenarios where gold sells for multiples of what it sells for today, but I think it's a reasonably good place to put a bit of money. If you buy older coins there is also a collecting aspect.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 04-10-2023 at 10:07 PM. |
#3
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silver/gold
Considering that you are asking strictly as an investment safeguard, yes-
Trent King |
#4
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I recently went the other way. I sold gold to buy some silly rare cards.
If cards are up and gold was down then I would, otherwise probably not. |
#5
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Hi Peter, i seen some of your post on the coin side. Seem like your very knowledgeable.
I had a old CC morgan silver/president kennedy one, still have many half dollars and such. But as a novice, what coin is a must-have for a beginner/invester? Others please chime in as well.
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1916-20 UNC Big Heads Need: Ping Bodie |
#6
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thanks guys for your responses. I appreciate it.
Do you guys recommend buying silver coins or silver bars? Is it better to buy one american eagle gold coin or 50 american eagle silver coins (the approx amount of silver coins you could get for the price of one gold coin) or should i be buying junk silver coins? Thanks Last edited by homerunhitter; 04-11-2023 at 12:22 PM. |
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#8
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 04-11-2023 at 12:53 PM. |
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Peter,
If I can’t afford gold at the moment , what would you recommended for silver? American eagles? Bars? Junk silver? Thanks |
#10
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Silver to me is just something that goes up and down and doesn't have the attractive long term characteristics that gold has. I would not sell cards to buy silver. But I am no expert.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#11
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I will have to figure out how to get gold then! I was just thinking in a situation where the US dollar collapses (which I personally think it will) it would be easier to Bart (but things) with multiple silver coins vs trying to barter with one gold coin. I appreciate your thoughts on this very much.
Thank you |
#12
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#13
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Ny question with gold and silver is where do you sell it? Unless you find another collector willing to pay full value isn't it a loss the second you buy it?
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#14
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:Like anything else, the idea is that it will go up over time and the gain will offset transaction costs. But there is a huge market for it, it's not hard to sell at all.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#15
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Why do you have to sell cards to buy gold? To raise the capital or something? It’s typically best to diversify assets rather than convert one into another.
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#16
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I had a touch of the silver bug for a while. Truth is, cards or stocks would have been significantly better investments. I still buy a little silver now and again...an American Eagle with the current year date makes a wonderful baby gift. Were I to make a serious investment, I really prefer Platinum and Palladium at their current price points. Both are exceptional industrial metals and rarer than gold. It is alway important to remember that I am often wrong.
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#17
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For me personally, I have some cards that dont fit into my collection tastes anymore so im trying to decide , do i sell the cards i no longer need/want and buy other cards that i might need or want or do i sell cards i no longer need/want and use that money to invest in silver or gold.
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#18
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Now is probably a bad time to buy gold, unless you are a doomsday kind of guy. Per Forbes (Is Gold An Inflation Hedge? 3/10/23):
"Some studies have found that gold can be an effective inflation hedge, but only over an extremely long time horizon of more than a century. Over shorter periods, researchers found gold’s inflation-adjusted price fluctuates dramatically. Since 1972, the ratio of gold’s price to the CPI has averaged 3.6. The current gold-to-CPI ratio is 6.4. If gold were a simple, reliable inflation hedge, its value would remain roughly constant relative to the CPI." The price of gold has gone up much faster than the rate of inflation for some time now (up nearly 25% since October), so I would think that it is primed for a series of price drops and little if any gains over the next few years.
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 04-11-2023 at 04:14 PM. |
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I predict this will happen about the time that Hell freezes over. |
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#21
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You would pay a somewhat higher stepup to get the smaller coins, but it's not terrible. I would say that if you decide to take a plunge just make sure you acquire whatever you decide on from a reputable source. The metals scene is not immune from the scams that seem to be showing up everywhere. |
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after researching it, my concern is spot price for silver is currently $25, you cant find them anywhere on ebay for less than $40 and when it comes time to sell dealers are buying them for $12-15, so paying $40 for a $25 coin to just sell for $15 doesnt seem like a good investment to me!
i know it has been said that the hope is eventually the price of silver will go up enough to cover seller markups, but I dont see silver going up that much in the next few years based on the past silver prices. if dealers buy super low so they can make a huge profit on their mark up, im wondering why it would be good to pay $40 a coin just to sell it for $15 down the road? |
#23
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I was actually thinking of making a trade post to swap some cards for coins.
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#24
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A dealer of any product will pay below market, that’s how they stay in business. It usually doesn’t make sense to sell to dealers at their buy rate for anything. You sell it to another investor.
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#25
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I totally get this and I totally understand this. but as a buyer how dos it make sense to pay $40 for a $25 coin to just sell for $15 eventually? (not trying to be smart at all, just trying to learn and understand if/does it make sense to buy for $40 and sell for $15)
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#26
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#27
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When you are investing in something, you are gambling that that item will go up over time. Conventionally, you are not planning to sell at below market prices either to a dealer. Don’t sell to a dealer who has to lowball you to make a profit. Don’t buy things as investments you don’t think will go up. Your formulation here is the problem. Anything you take this approach too will result in a loss of money. Buying at todays market price and selling at todays dealer buy price guarantees a loss 100% of the time for any item. |
#28
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Thanks Guys for your thoughts on this. I think ill pass on both gold and silver for now as Im not really educated on it or know what im doing in regards to investing in gold and silver.it doesnt seem like its a good option for me at this time the more I think about it.
Last edited by homerunhitter; 04-12-2023 at 07:24 PM. |
#29
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Deleted.
Last edited by 58pinson; 04-12-2023 at 06:30 PM. |
#30
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I think one problem I see is that silver will never go up enough to make a profit on what todays sellers markup is. (I dont think the spot price of silver has been over $30 in the past 10-15 years (or maybe even ever) the seller markups today are outrageous.(to the point that making any profit on it is darn near impossible) to complicate matters worse in the silver market is that if an american silver eagle 1 oz coin is consistently selling for the sellers markup price of $40 then people start thinking and believing that 1 oz of silver is worth the $40 they paid for it, then when they go to sell then and only then will they find that their pants have been pulled down to their ankles!
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#31
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#32
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Ben
You are absolutely right my friend. I never thought of that but you are 110% right. I have to now rethink my card purchase decisions from here on out. |
#33
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Most of the coins I bought 10, 20 and 30 years ago are worth very little more and many are worth less than what I paid(and they are high grade PCGS/NGC). Like many other asset classes not everything goes up.
Compare to the stock market or cards and coins are a terrible investment(as is bullion). The people that have done well in coins owned either very high grade keys or rarities that most can't afford. |
#34
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Diversification is always good
But I feel more upside long term in cards I would sell gold or silver to buy cards However, rare gold or silver coins is different and I would not sell that to buy cards unless I want to adjust my overall asset allocation Since I do not own gold/silver and since I do not own rare coins(and not enough knowledge or interest) I would not sell gold/silver for coins For cards/memorabilia I would.
__________________
Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
#35
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#36
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There is no way you'll pay $40 for coins you'll sell for $15, unless spot drops 50%. Last edited by Mark17; 04-15-2023 at 08:45 PM. |
#37
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You can’t find a 1oz American silver eagle on eBay for less than $40 and all the coin shops/dealers I called Asking hoe much they will buy them for the responses were $10-$20 so yes it is true that a coin they costs $40 on eBay, is worth $25 spot sells for $10-$15….that’s a fact Jack!
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#38
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Check Apmex buy prices.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#39
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https://www.golddealer.com/product/c...ple-leaf-1-oz/ |
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Eagles. They'll pay north of $30.00:
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#41
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Some interesting points and would really need to learn about coins first
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Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
#42
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Right, your local coin shop may not be the best source of market information, just as your local card shop (if there are any left) is not going to be the best source of buy prices for cards.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#43
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Thanks guys for the info! As mentioned above, I know absolutely nothing about coins. I was just going off the info I got from local sources , which I see now are total rip offs!
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#44
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Sent from my SM-G9900 using Tapatalk
__________________
Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo |
#45
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I agree with you that paper currency will be worthless is this country/ world continues to be headed to chaos. I also agree with you that it appears silver would be easier to trade than gold. if this countrys economy/currency goes down hill, do you think us coins will still have value or will all us currency (coins included) be worthless? |
#46
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#47
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People.cant even make change for a dollar! how are you going to use a liberty dollar for some water at home.depot and get a few shekels back?
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"Trolling Ebay right now" © Always looking for signed 1952 topps as well as variations and errors |
#48
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This thread is really turning inane.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#49
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Brief departure from the covid thread
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"Trolling Ebay right now" © Always looking for signed 1952 topps as well as variations and errors |
#50
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I gave up on that one months ago lol.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
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