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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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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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silver/gold
Considering that you are asking strictly as an investment safeguard, yes-
Trent King |
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. |
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. |
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 |
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If I can’t afford gold at the moment , what would you recommended for silver? American eagles? Bars? Junk silver? Thanks |
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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 |
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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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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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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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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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I predict this will happen about the time that Hell freezes over. |
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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. |
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? |
I was actually thinking of making a trade post to swap some cards for coins.
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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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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. |
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.
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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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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. |
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. |
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. |
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There is no way you'll pay $40 for coins you'll sell for $15, unless spot drops 50%. |
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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Check Apmex buy prices.
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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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Some interesting points and would really need to learn about coins first
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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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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? |
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This thread is really turning inane. |
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Seems like a likely scenario. |
I get it Peter! and I agree with you.
Food storage … check Water storage… check Guns and ammo…check |
It's not a bad thing to be prepared for misfortune. It's good to be fit, to learn how to make a fire, to have some supplies on hand, to learn to do some things for yourself that people don't really have to do anymore usually. I suppose it doesn't hurt to have a case of water in your trunk, and some MRE's and a few magazines. I suppose it can even be a fun hobby for some to learn these skills and to prepare. It sure doesn't hurt anyone.
I fail to see any real liklihood that things will collapse so bad that order and law disappear and people are really forced to fend entirely for themselves. Having seen most vintage collectors bulk, we should hope not as most of us will be dying very quickly. Most people will not be able to take care of themselves for even a week. That this apocalyptic scenario will happen and silver will see a price rise because farmers will use it as the currency to traverse their roads (apparently in this end of order scenario, people are polite and respect property and it isn't those who can quickly form well-armed groups that will control things) is ludicrous. If one truly believes the end of civilization is coming, one should get fit, learn survival skills, hoard food and medicine and water and stockpile ammunition, parts and magazines, learn marksmanship, organize a group. Stacking silver to pay farmers to cross their roads? How far down the rabbit hole of crazy can we go? |
Is there a secret network of roads owned by farmers?
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These new centers of control need currency. Why not silver coins in a region that is still a silver capital? If a collective of farmers want to fill that power vacuum, so be it. But in Eastern WA, there are enough small highways to get to Canada. We have a single lane highway that runs all the way from Spokane to Nelson, BC. That's the road I would need to take to flee. It would be controlled by someone; possibly even a Native American tribe because it runs through their reservation. Sent from my SM-G9900 using Tapatalk |
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Collectives of farmers and Native-Americans charging toll fees for roads and everyone else peaceably paying it and adopting a silver standard as civilization ceases sounds like some hippie science fiction with no grounding in actual history. Nowhere in the history of the world has civilization collapsed and collectives of farmers and Native-Americans become the power brokers by virtue of placing a fee on a road. The absurdity of this should be immediately obvious. Europe in 1850 was not a fall of civilization and groups of peaceable farmers running an economy emerging from road tolls. The Levant in the 2010's was not a scenario of civilization crumbling and Native-Americans peaceably filling the void because they lived closest to a road. I have nothing against investing in silver, but this is the most absurd reasoning imaginable for it. This must be a joke. Good luck with your silver road plan. |
An AK-47 might serve you better at a roadblock than a handful of silver coins LOL. This is so stupid. And if it all falls apart, guess what, Canada ain't going to be any better off, won't be any reason to go there.
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I think the card pumpers are ridiculous sometimes but damn, silver pumpers are next level. The fantasies people have… |
By the way, suppose you buy your way to the Canadian border past the farmers and Native Americans. In the type of scenario described, that border is going to be heavily guarded by soldiers, I would imagine. Then what? Oh, wait, I know, you bring some Maple Leafs too?
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On a more serious note, a currency can collapse, or reset, without the country breaking up or the government collapsing. Back in 1985 when I was in Italy, a dollar was worth 1,770 lira. The lira didn't start out as being near worthless. I prefer maple leafs, in gold, for one simple reason. The USA did actually make owning gold illegal, from FDR to Gerald Ford. If that happens again, a scenario of sneaking north to cash out gold maples in Canada (if it's illegal here) could play out. So: Heat insulated suit Bag if ice Diapers |
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I'm not a prepper, and I'm not pumping silver. But knowing emergency prep does mean you plan accordingly to where you live. I'm also not saying civilization will collapse. But a govt collapse, currency hyperinflation, or Civil War are all real scenarios that play out across the world, and not just in history books.
Locally, I'm surrounded by anti-govt wackos. North Idaho still has Neo-Nazi skinheads (but now they go by a different name). In Spokane, we elected an anti-govt idiot named Matt Shea who openly professes to want to start a theocracy in Eastern WA and North Idaho called the "State of Liberty." He said these things while in office and won re-election. While in office he joined the takeover in Oregon of the nature reserve. This means I'm surrounded by wackos who believe what he says. He retired from politics, but still is a civic leader. It's people like this who took part in the January 6 riots. If it happened in DC, it could happen locally in Spokane. Would Spokane collapse if Matt Shea wackos staged a coup in Eastern WA? Probably not. But would the Feds send additional troops in order to protect Fairchild AFB, local dams, federal buildings, etc? Probably. So then what kind of situation am I in with two opposing forces? Would Matt Shea wackos accept the US Dollar as currency? I don't know. But it's likely they would accept silver no matter what. Sent from my SM-G9900 using Tapatalk |
This is turning into the Covid thread :D, which I pray is dead and buried.
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Good thing Bruce was vaccinated though as I'm sure it would be much much worse!!! :rolleyes: Still think I should get vaccinated, Pete? Have anything to say that could possibly convince me too? Bruce Springsteen comes down with COVID-19 at end of U.S. tour. https://torontosun.com/entertainment...nd-of-u-s-tour And he demanded that only the vaccinated attend his shows. LMAO :D https://youtu.be/9imU4Pyygi4 |
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Thread hijack alert!!!
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Now, back to hoarding silver in case I ever have to take a trip through farmer-controlled Vermont roads to escape to your country. |
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