Author Topic: Discussion of Gold and All Items Pertaining to It  (Read 1194 times)

Golden Oxen

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Discussion of Gold and All Items Pertaining to It
« on: April 22, 2014, 11:06:34 am »
A place to chew the fat about gold, silver, precious metals and the numerous items that affect them. Currency movements, interest rates, oil prices, industrial uses, the entire gamut of influences that affect this topic.

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Golden Oxen

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #1 on: April 22, 2014, 11:12:15 am »
Recent weakness in silver prices would seem to contradict the idea that we are in recovery mode for the world economy. Poor man's gold has so many industrial applications as well as it's monetary history, that the price weaknes and strong economic rebound are difficult to reconcile.

JoeP

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #2 on: April 23, 2014, 07:11:30 pm »
Hey GO,

Could I get your opinion on buying gold and silver coins from a coin (or pawn) shop?  If you think it's OK to do this, does a person need to be very "coin educated" to walk into one of these places with the intention of making a purchase?  BTW - this is a coin shop that is a fairly short driving distance from my residence.

Golden Isles Coin Shop

Thanks,
Joe

« Last Edit: April 23, 2014, 08:11:54 pm by JoeP »

Golden Oxen

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #3 on: April 23, 2014, 08:55:30 pm »
Hi JoeP, In no way is this an insult to the firm you mentioned, they may in fact be quite reputable, but buying from  a local coin store or pawn shop is not the way to go in my opinion. You have a greater risk of buying something counterfeit, revealing your identity and address to someone local, getting followed and robbed on the way home, buying items that may have been stolen merchandise.

These establishments, even if tiny, usually have high overhead, rent being the largest, as well as security, and the cost of having someone always present during business hours. Again, no finger pointed at the firm you mentioned, but the reason a great many of these stores, especially pawn shops exist, is to buy items on the cheap from people in need of some cash and who are clueless as to the real value of the item, or need cash quickly, so  they take a beating. The proprietors of these stores know when they have bought something of high value on the cheap and either keep those items for themselves, sell them to a professional major coin dealer that they usually do business with regularly, or list them on E-Bay where collectors will bid for them and they will realize a much higher price than what was paid. The items of lesser value, those they feel are tainted buy being in poor condition, scratched, cleaned, toned, rim nicks etc, are placed for resale in their store to folks who are unaware or not knowledgeable about these minor items which effect a coins value. especially a numismatic coin, less so a bullion coin, significantly.

In short Joe my answer would be No, I would not advise it. The venue I would suggest to you to get your feet wet with some purchases are the LARGEST MAJOR sellers of bullion and bullion coins on EBay. Let me list the reasons why.

You are buying from an established dealer whose credentials are laid out before you.

You will get secure delivery by registered mail to your home, no threat of being followed out of the store by a would be robber.

You will be using Paypal for payment which does not disclose your credit card info to the seller and is a pretty secure site.

if you do not receive the items ordered, the seller is required to obtain your signature on delivery, or to provide tracking service on the items, Paypal will review the situation and refund your money in full if the seller cannot show proof of delivery.

This Ebay dealer will be dealing in an intensely competitive environment, forcing him to keep prices in ine with other large dealers offering essentially the same products.

Most offer free shipping the competition is so great, and special sale items when business is slow for the smart shopper who know how to wait for a deal and compare prices. Quantity purchases are usually discounted a bit as well, 20 coins say purchased at once rather than two.

Many of these dealers are so large that the items they sell are direct from the US Mint and are sold in their original packaging.

Besides a Buy It Now feature, many offer items on a auction basis as well so you can see what others are willing to pay as a way to better determine fair price.  Another words if 76 people are bidding around 25 dollars for a 1 oz silver coin, you may assume that area is a fair market price.

Hopefully your inquiry has been answered. I shall close this posting with an illustration of a recent purchase from a dealer I have used with satisfactory results often. In no way am I affiliated with this dealer,  norcan vouch for you getting the same results I did, or to his character, past business practices, etc. I am referring him to you with a few reason why under the  illustration, there are others like him, I chose him for a variety of reasons, his size, excellent customer feedback responses, variety of offerings, huge volume of transactions, competitive prices, free shipping on all items, no matter the size or price. When satisfied I have a habit of not going elsewhere.

Let me also make perfectly clear that this person sells coins from his own establishment by mail as well as EBay. My recommendation to you is to deal ONLY on EBay through PayPal for the previous reasons listed.


                                                               

This is the route I go.

Direct from the US Mint.

I pay a premium for a respected authenticator to attest that the package has not been tampered with and who seals it with codes and serial numbers listed.

I have no fear of counterfeit coins

No fear of unsatisfactory handling

Free shipping from a dealer with 200,000 transactions with near perfect customer satisfaction.

PayPal customer satisfaction guarantee.

Credit card Privacy and home delivery.

Sure you get the idea Joe P, Any further questions just ask. Shop carefully and become familiar with all the offerings in your area of interest as well.          Link to dealer below, there are others on EBay as well

ROLL OF 20 - 2014 1 Oz Silver Eagle NGC GEM UNC ER DIRECT FROM MINT BOX


www.ebay.com/itm/ROLL-OF-20-2014-1-Oz-Silver-Eagle-NGC-GEM-UNC-ER-DIRECT-FROM-MINT-BOX-SKU30849-/131155497629?pt=US_Bullion_Coins&hash=item1e897a129d








 

Golden Oxen

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #4 on: April 23, 2014, 09:00:56 pm »
Hey GO,

Could I get your opinion on buying gold and silver coins from a coin (or pawn) shop?  If you think it's OK to do this, does a person need to be very "coin educated" to walk into one of these places with the intention of making a purchase?  BTW - this is a coin shop that is a fairly short driving distance from my residence.

Golden Isles Coin Shop

Thanks,
Joe

NGC Certified Rolls

Collecting coins in roll format has long been very popular. Many denominations of circulating coins are traditionally dispersed in bank-wrapped rolls, which consist of a standard number of coins within a tight paper wrapping. Similarly, many bullion coins are issued in hard plastic rolls. For example, US Mint-issued American Silver Eagles are released from the Mint in rigid plastic rolls of 20 coins that are unchanged since the late 1980s.

For those who prefer to own coins in roll format, NGC offers Certified Rolls. These provide the advantages of an independent guaranty of condition and authenticity. NGC Certified Rolls are made from exceptionally high-quality inert materials and are designed with long-term storage in mind. Additionally, they are fully transparent, making it easy to see what’s inside.

An NGC certification label appears in each holder, describing its contents. Where applicable, an adjectival grade is also provided. Security of the roll has also been elevated to the highest levels. Each holder is sonically sealed and tamper-evident. Holographic security tape and a counterfeit-resistant hologram are affixed to each holder.

Most significantly, and unique to NGC, each Certified Roll has been assigned an NGC certification number that can also be parsed to correspond to each individual coin within the roll. Tracking, managing and storing bullion coins has never been easier.

Currently, NGC Certified Rolls are available only for American Silver Eagles. More denominations will be available soon.

www.ngccoin.com/coin-grading/holders/certified-coin-rolls.aspx


 

JoeP

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #5 on: April 23, 2014, 09:22:09 pm »
Thanks for the very informative replies.  Here's a dimwit question - do I have to expliciitly request delivery only with signature?  Or is this an option in the ordering process?
 
 

Golden Oxen

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #6 on: April 23, 2014, 10:34:37 pm »
It is the seller who decides, you have nothing to do with it.  Your PayPal guarantee will be in force no matter what. 

Information described in full on E-bay, read the policies and how they apply.

JoeP

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Re: Discussion of Gold and All Items Pertaining to It
« Reply #7 on: April 24, 2014, 09:15:32 am »

Currently, NGC Certified Rolls are available only for American Silver Eagles. More denominations will be available soon.

www.ngccoin.com/coin-grading/holders/certified-coin-rolls.aspx


I really like the advantages of the NGC certified rolls.  I trust you will keep the readership updated when other denominations are available?