Considering no longer buying US Mint products from the US Mint

[Dennis G Rears]

Every year I buy (3) US Mint Sets; (3) Proof Sets; and (3) Silver Proof
Sets. This has been since 1998. With the exception of the silver sets ;
the price is depressed. I've got my sets I want to update and keep the
products for a while. I am thinking why should I buy from the US Mint when
I could wait for a year or two and pay a lot less? I rather spend my money
on my key set that I am collecting Standing Liberty Quarters.

dennis

[james...@yahoo.com]

Standing Liberty Quarters are a nice collection, but some are very
expensive. It took me awhile before I got an uncirculated but cleaned
1923 S for a lot of money. Walking Liberties are also very desirable
and beautiful.

The fiasco with the 25th anniversity American Eagles has added to the
Mint's reputation favoring dealers and profiteers.

Jim

[Paul Ciszek]

In article <4eb8ac64$0$28374$607e...@cv.net>,

Dennis G Rears <d...@runningpage.org> wrote:

Are the gold coins produced by the US Mint any better of an investment than
the "precious metal rounds" produced by one of the more honest private
mints?

--
"Remember when teachers, public employees, Planned Parenthood, NPR and PBS
crashed the stock market, wiped out half of our 401Ks, took trillions in
TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in
bonuses, and paid no taxes? Yeah, me neither."

[Mike Benveniste]

On 11/8/2011 9:54 AM, Paul Ciszek wrote:
> In article<4eb8ac64$0$28374$607e...@cv.net>,
> Dennis G Rears<d...@runningpage.org> wrote:
>> Every year I buy (3) US Mint Sets; (3) Proof Sets; and (3) Silver Proof
>> Sets. This has been since 1998. With the exception of the silver sets ;
>> the price is depressed. I've got my sets I want to update and keep the
>> products for a while. I am thinking why should I buy from the US Mint when
>> I could wait for a year or two and pay a lot less? I rather spend my money
>> on my key set that I am collecting Standing Liberty Quarters.
>
> Are the gold coins produced by the US Mint any better of an investment than
> the "precious metal rounds" produced by one of the more honest private
> mints?

First, you should decide whether you wish to hold physical gold in the
form of coins. There are other viable alternatives, each with
advantages and disadvantages.

If you've made that decision, I suggest looking at three factors and
deciding which tradeoffs you are willing to accept. The first is
liquidity. It's easier to find a market for the better known coins
and rounds. When, for example, you try to sell something like a
American Arts Commemorative Series medal, be prepared to get a funny
look from many private buyers even though it was minted and sold
by the U.S. Government.

The second related factor is transaction costs, including the bid-
ask spread. As an individual, the spread usually works against you, so
it's an advantage to find products which have consistently low spreads
over time. Other transaction costs can be obvious, such as paying
postage or assay fees. Other times, they are less obvious, such
as the time and effort spent avoiding the lowball "cash for gold"
outlets.

The third factor applies only in the U.S., and that involves whether
or not the product is acceptable for IRA's. American Gold Eagles are
acceptable, as are legal tender coins of .995 fineness and higher
from the U.S. or other recognized governments. Private mint issues are
not acceptable.

At present, I'm doing any "tuning" of my gold holdings through SPDR Gold
shares. But if I were to buy gold coins to stash in a dark place,
I'd first look at legal tender coins from the U.S., Austria, Australia,
and Canada.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain

[Dennis G Rears]

<james...@yahoo.com> wrote in message
news:340593d5-b2a7-4759...@x8g2000yql.googlegroups.com...

I know about the expense of the SLQ. I am collecting in XF-BU condition
except for the 1916.where I will have to settle for a VG/F. I hope to buy
that in late 2012. I completed a circulated set of Walkers last year and a
certified MS-65/66 Short Set two years ago. I am working on the 34-47 long
set in 65/66 but haven't bought any Walkers since last year. I am
concentrating on the SLQ set. It's not only expensive but hard to locate
qulaity coins that have not been dipped or cleaned.

dennis

[Dennis G Rears]

"Paul Ciszek" <nos...@nospam.com> wrote in message
news:j9bfr8$khb$5...@reader1.panix.com...

>>
>> In article <4eb8ac64$0$28374$607e...@cv.net>,
>> Dennis G Rears <d...@runningpage.org> wrote:
>>Every year I buy (3) US Mint Sets; (3) Proof Sets; and (3) Silver Proof
>>Sets. This has been since 1998. With the exception of the silver sets ;
>>the price is depressed. I've got my sets I want to update and keep the
>>products for a while. I am thinking why should I buy from the US Mint
>>when
>>I could wait for a year or two and pay a lot less? I rather spend my
>>money
>>on my key set that I am collecting Standing Liberty Quarters.
>
> Are the gold coins produced by the US Mint any better of an investment
> than
> the "precious metal rounds" produced by one of the more honest private
> mints?

I would not buy gold bullion coins unless they have legal tender status.
It makes it easier to take across international borders. The few GAE I have
bought; I have paid about a $50 premium over the spot price. I will not buy
proof or "collectible" American Eagles products; I made an exception for the
20th and 25th anniversary SAE set.

dennis

[MKW]

If you truly enjoy what you buy, making a profit should not be an
issue...the price you pay is the price to own and enjoy a cool piece.
There are lots of great coins and non-monetary pieces privately
made...plus some great US mint items. I just buy what interests me
and do not worry about it. Some of the Daniel Carr gold tokens and
silver overstrikes sell for much more than issue price on Ebay. His
pieces are works of art...just one example.

[MKW]

And you have to think...it cost big bucks to develop some of these
collector coin products...so...just as with fine jewelry it is
expected to pay a huge markup...the markup being no more than common
household items people buy everyday but do not pay attention to the
price.