Bullion: Cautions on Marketed Numismatic (Graded) Gold and Silver Bullion Coins!
May 13, 2010 - 3:13 pm
I point out Marketing of Gold and Silver Numismatic Coins and the extra money that these coins can cost. I think people should understand that liquidating raw bullion can recoup your investment verses FIDING a market for your Numismatic Graded Coins.
Duration : 0:10:58
[youtube 4y9LOLYE9aU]
May 13th, 2010 at 3:13 pm
P.S. I try to get …
P.S. I try to get the liberty walking halves in either AU or BU condition. Theyre getting harder and harder to find
May 13th, 2010 at 3:13 pm
@daveg1311 MS70 …
@daveg1311 MS70 doesnt mean its totally flawless. Coins are graded at 10x magnification. It means its flawless under 10x magnification. The graded coins i buy are almost always business strikes. However, I do occasionally buy MS70 proofs. I bought 3 of the 2009 S Nickels MS70. I also bought the highest graded 2009 P nickel you can get so far from PCGS – ms66. I got 2 of those.
I buy mostly silver bullion. As far as numismatics, I like to buy rolls of liberty walking halves. I LOVE those coins
May 13th, 2010 at 3:13 pm
This is awesome! …
This is awesome! Thanks for the info…I am glad someone is taking the time to explain this process!
I feel sad for people who don’t get it!
May 13th, 2010 at 3:13 pm
@AnnoyedDragon
…
@AnnoyedDragon
I appreciate you doing your own research. And you are right about everything you said :>)
May 13th, 2010 at 3:13 pm
I’ve been browsing …
I’ve been browsing around silver videos on YouTube and… You have to feel sorry for these guys, there are so many of them.
All these Numis Network marketing videos.
These people are paying ridiculous prices for what is in essence just a numismatic rated bullion coin, which you pointed out MS69s/70s are not rare. Then they are encouraged to hook other people in by advertising it themselves on YouTube.
I tried talking to one of them, refused to see any issues with what they were doing.
May 13th, 2010 at 3:13 pm
@glenw74
Thanks …
@glenw74
Thanks for your nice comment glenw74. Those same $299.00 coins can be bought on eBay by NGC AS LOW as $75.00 Buy It Now. Search American Silver Eagle MS70. Half are below $100.00. The addiction will get you if not careful hehe.
May 13th, 2010 at 3:13 pm
100 stars, and …
100 stars, and nuthing but the truth. APMEX sold slabs to suckers while building true holdings. (The bullion!)
1oz silver rounds American Silver Eagles $299.00. Try and sale them back. They will offer spot. Mike is the man!
May 13th, 2010 at 3:13 pm
This is a good …
This is a good video however. Opens both side of the story. Usually its like 1 out of 10 coins are MS 70 in a mint box or tube. To get them graded, it cost around $30 bucks to do. Its just better let them do it because is like taking a chance to pay someone to grade 10 coins and come up empty.
May 13th, 2010 at 3:13 pm
@charlesfuchs If it …
@charlesfuchs If it realy does work that way, indeed its like any other buisness
May 13th, 2010 at 3:13 pm
Hmmm, Would love …
Hmmm, Would love your opinion. We currently sell ANACS 70 MS American Eagles for $100. Mike Mezack is our spokesman and sells these same coins on HSN weekly. I use to make fun of Numismatic coins until I found out its a 100 Billion dollar business. We currently have 6000 members and growing.
May 13th, 2010 at 3:13 pm
I heard BOB say …
I heard BOB say that get around %20 numismatics a few weeks ago lol
May 13th, 2010 at 3:13 pm
That’s exactly what …
That’s exactly what I’m saying connectingdots1. Although I don’t know how these coins in particular (Maple Leafs) usually end up graded as from their tubes. But my knowledge is actually based on historical data of the ASE.
May 13th, 2010 at 3:13 pm
Hi charlesfuchs…. …
Hi charlesfuchs…….don’t let me be misinterpreted. I have many slabbed Indian Head Cents and Carson City Morgan Dollars. I don’t speak against ALL Numismatic Coins….there’s always those that are great investments……..AS LONG as we don’t over pay :>)
Thank you for your post….it offers an in between the line opinion. I love my graded Indian Head Cents LOL!
May 13th, 2010 at 3:13 pm
Im in the …
Im in the numismatic business too.. hmmm you have great points. It is a business like everything else… What I do is sell these coins for my business to make fiat money so i can buy more silver bullion. Its a win win lol
May 13th, 2010 at 3:13 pm
Great video. I was …
Great video. I was just thinking of buying graded bullion & I’m glad i didn’t. Thanx
May 13th, 2010 at 3:13 pm
Govt. Minted Silver …
Govt. Minted Silver Coins are all basically MS 69 or 70 Coins, they really are Just Bullion and should not be purchased for their Numismatic or Collector value, you will not find “Worn” Silver Eagles etc. as they were never minted for General Circulation.
it also depends on “WHO” submits these Modern Bullion coins to professional Grading services( IE: PCGS, NGC, ANACS, ICG etc) as to how many of these submitted coins come back as MS70!!!
May 13th, 2010 at 3:13 pm
@fee1776
I …
@fee1776
I myself have even seen the #3 Coin Grading Company Grade the New Lincoln Cents by the tubes……check out eBay to confirm.
Now can’t that question a grading company’s credibility? Hasn’t this turned into an All for Profit Service?
May 13th, 2010 at 3:13 pm
Agree, graded …
Agree, graded bullion is a joke. The MS70 grade is an even bigger joke. Look hard enough and you’ll find a flaw somewhere. Buy the coin, not the holder. Old coins are for grading.
May 13th, 2010 at 3:13 pm
There is a scandal …
There is a scandal involving encapsulated coins. Claims that coins have been cleaned or retouched and capsulated with a higher grade. One cannot detect the retouches unless you take the coin out of the capsule, thus nullifying its grade. The US is the only one that capsulates its coins. The rest of the world wants the coin accessible for inspection.
May 13th, 2010 at 3:13 pm
Numismatic coins …
Numismatic coins are for coin collectors.
May 13th, 2010 at 3:13 pm
@MoeKimura
I heard …
@MoeKimura
I heard the same show and I concur,I do have bullion bars but have recently started only buying Canadian Gov.minted .9999 coins.
Because we live an Age of Fraud and people like reassurance and the Gov. issued bullion is the best way.
Hey Mke,I have a few brand new 2010 Olympic Hockey silver coins tubes and 2010 Maple leafs still in the mint container,so what you’re saying is that they may have a few coins worth more than the rest?,maybe I should have them appraised?.how much for that
May 13th, 2010 at 3:13 pm
Sounds similar to …
Sounds similar to what the jewelry biz does, I am a semi retired gemologist, yes there is a standard, but you got the A_Z jewelry chains etc that make up thier own grades that are supposedley comparable, BS I tell you one thing I wouldnt buy a flawless diamond with a cert because I dont have a market for that, give me normal average at descent price and I can move it. A lot of folks got stuck with so called investment stones in the 80s and lost thier butts in more way than one. Buy good average
May 13th, 2010 at 3:13 pm
@WhyMeWhySilver …
@WhyMeWhySilver yes you’re right Mike people didn’t have a clue what an American silver eagle was. in the end silver of any kind is better then no silver.
May 13th, 2010 at 3:13 pm
@Moe
That MIGHT be …
@Moe
That MIGHT be debateable.
Watch Silver Bullion:? People Don’t Recognize the American Silver Eagle, it’s Existence, or It’s Value.
Bob may not have hit the streets yet lol! But I did get your quote…..you did say…prefer government eagles…… :>)
May 13th, 2010 at 3:13 pm
@72542…
:>) …
@72542…
:>) Precisely my point.