The gold coin market is alive and well. A number of newsletter writers have been recommending metals and commodities. They are also suggesting that as the dollar continues to lose value, numismatics may go up as much as 1000 percent. That is ten times current levels. Preposterous? It happened before, in the 1970s.
James Turk stated in The Coming Collapse of the Dollar and How to Profit From It, "that numismatics will be double winners in a dollar collapse, benefiting from all the capital flowing into hard assets and the rising profile of precious metals in general. Another attraction of rare coins...is that if the government ever decides to once again confiscate gold bullion, under current law, coins dated prior to 1933 are deemed collectibles and won't be included in the recall."
People seem to buy gold when it's higher, not lower. I've witnessed this for over 20 years. It's a human phenomenon. It's the reverse of everything else I've seen. When clothes are on sale, people buy them, and when cars are on sale, people buy them, but when the price of gold goes on sale, most people don't want it, and when the price of gold goes up, they want it!
In all recorded history, the only commodity that has ever held onto its value as a measure of worth and buying power is gold. The price of gold has protected its owners over the long term. It is the only real insurance and a great store of value, and the preferred way to own gold is to actually own the gold coins. That's right, you keep the coins yourself. There are many thousands of serious collectors out there gobbling up tens of thousands of coins. Many of the people who bought numismatic coins from us between 1998-2003 have nice profits already. And, according to many newsletter writers, this is just the beginning. Coins can and do go up in value. They can also go down in value. If coins were bought in the late 1980s or early 1990s, they are probably worth less today. Timing is obviously very important.
There are many telemarketing companies out there that mark up their coins 50-100 percent over the wholesale cost that all coin dealers pay for these coins. That means if prices double, you might get your money back. This may be important to you if you are not a 100 percent pure collector.
We've seen coins in our office that people have purchased from nationally advertised telemarketing coin companies that have been priced at twice their cash value. Ouch!
We recently saved a man $1000 on an MS66 St. Gaudens common date $20 gold piece. We charged him $2550. He could have paid $3650 for the same exact coin. If that has any meaning to you, call us. It will be the smartest call you make.
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