Comments on: A Primer on US Coins #5: Bullion Coins http://politicook.net/2008/10/23/a-primer-on-us-coins-5-bullion-coins/ Food for the Progressive Soul Wed, 01 Sep 2010 19:36:54 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Translator http://politicook.net/2008/10/23/a-primer-on-us-coins-5-bullion-coins/comment-page-1/#comment-7367 Translator Thu, 23 Oct 2008 23:04:43 +0000 http://politicook.net/2008/10/23/a-primer-on-us-coins-5-bullion-coins/#comment-7367 You are very welcome! I caution you that the online catalog from the mint currently charges much more for bullion than it currently is worth, because precious metal values have tanked the past several weeks. For example, when I wrote Installment 4, silver was almost $14 per ounce Troy, and is $9.35 today. So you have to be careful. The Mint makes money off of its bullion sales, but does not depend on them. Dealers, however, do depend on those sales, and they will take a loss if they need cash. No one in her or his right mind would pay more than spot price for bullion coins, so a dealer will simply not sell, or will if cash is needed. That is why I recommended pawn shops, because they almost always buy at a deep discount and can afford to sell for near spot. Gold is still a little high right now, but silver looks pretty good. If you look at historical platinum prices, it is really cheap right now (at one time it was pushing $2000 per ounce Troy), but I think that the high price in the past was an anomaly. It seems to be about right at present. Warmest regards, Doc You are very welcome! I caution you that the online catalog from the mint currently charges much more for bullion than it currently is worth, because precious metal values have tanked the past several weeks.

For example, when I wrote Installment 4, silver was almost $14 per ounce Troy, and is $9.35 today. So you have to be careful. The Mint makes money off of its bullion sales, but does not depend on them.

Dealers, however, do depend on those sales, and they will take a loss if they need cash. No one in her or his right mind would pay more than spot price for bullion coins, so a dealer will simply not sell, or will if cash is needed.

That is why I recommended pawn shops, because they almost always buy at a deep discount and can afford to sell for near spot. Gold is still a little high right now, but silver looks pretty good.

If you look at historical platinum prices, it is really cheap right now (at one time it was pushing $2000 per ounce Troy), but I think that the high price in the past was an anomaly. It seems to be about right at present.

Warmest regards,

Doc

]]> By: drchelo http://politicook.net/2008/10/23/a-primer-on-us-coins-5-bullion-coins/comment-page-1/#comment-7366 drchelo Thu, 23 Oct 2008 22:55:27 +0000 http://politicook.net/2008/10/23/a-primer-on-us-coins-5-bullion-coins/#comment-7366 Translator - I love reading your diaries! I learn so much from them; your knowledge of so many different areas is wonderful. I knew nothing - zip, zero, zilch - about bullion coins until I read this. I suppose I'm never too old to learn something new. You may have inspired me to make a new sort of investment if I have any spare money. Bullion coins may not be the safest place to put one's money, but if I keep them safely boxed, I can always take them out to look at them to enjoy their beauty. Thanks again, Translator. Translator – I love reading your diaries! I learn so much from them; your knowledge of so many different areas is wonderful.
I knew nothing – zip, zero, zilch – about bullion coins until I read this. I suppose I’m never too old to learn something new.
You may have inspired me to make a new sort of investment if I have any spare money. Bullion coins may not be the safest place to put one’s money, but if I keep them safely boxed, I can always take them out to look at them to enjoy their beauty.
Thanks again, Translator.

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