Monday
December 19th 2005
Hello and thanks for wanting to read this week’s
new insight...
We had some very nice sales of more Gold coins this
past week, one that stands out (which was only up
at the webpage for shortly under a week) was the 1920-S
Saint in MS64 to a smart client who does not hesitate
on good buys like this. That seems to be the biggest
regret I hear from a lot of clients, people who call
after the “sold” sign is on the coin they
say “I really should have just bought that,
I was going to but I hesitated too long”. It
is very understandable if you have to watch the budget
and not stretch yourself financially, but if you have
the money to spend without putting yourself into a
risky situation you really should call to at least
talk with my father or I about the certain coin you
have your eyes on.
There are always the important questions like, “if
I had to liquidate this coin could I do it without
getting hurt too bad?” Or, is this
coin the best investment purchase for X amount of
dollars within 1-3 years?” These are questions
you should be able to ask if they are a concern because
it’s your future and we want to make it our
future also, meaning if these “treasures”
ever are to come back on the market we would like
first shot at them, so of course we are not going
to mark them way up through the roof to make a huge
profit we would rather keep our customers for the
long haul.
So to bring it back to what this is pertaining to,
nice gold: There are people out there right now buying
up as much of the rarities and key date (eye appealing)
coins as they possibly can because they are smart
and thinking of the future, and not of the short term
future.
I truly think the best way to satisfy your hunger
for gold is to buy it in the form of coinage; the
reason is because it has way more up side then bullion
due to the “coin industry” and rarity
factors that stabilize them. When bullion prices per
ounce can lower drastically, certified coins do not,
and if hell broke loose and the government had to
confiscate gold it would only be bullion, not coins
because it is Illegal to do so.
Another question people ask a lot especially now with
the price of gold rising to new highs in a long time,
“will gold go down, and why would it?”
Well, you have to look at the world we live in, war
and global terrorism, also Eastern powers wanting
to create strong stable economies. In times of chaos
throughout the history of mankind gold has been the
most stable and reliable source to defend yourself
against everything bad (financially). Well, as long
as this world stays in this state of being (which
I do not see changing rapidly anytime soon) gold will
stay strong and continue to rise I believe. Like I
said, besides war and terrorism, the lust for gold
in the east will continue to be gobbled up as much
as possible, remember that they would like to see
the U.S. dollar decrease.
Another rare treasure we sold this past week was our
1891
$10 Liberty in PR65DCAM PCGS for $49,500, this
is a coin that a customer had us send to him for his
viewing, he passed and the next day it sold. The buyer
got a steal; this coin is a $65-$70 thousand dollar
coin easy in this grade and especially in a PCGS holder.
In one to two years this coin will be untouchable
under $70k. The reason I didn’t price it at
that is because I bought it at 10% under my sales
price and ethically I would not mark it up to an astronomical
profit because I would like to see my client do good
with this coin in the future. So you can say I definitly
cherry picked that baby! With the two coins I have
mentioned sales were near $200,000 in gold last week,
and with other coins we sold put sales at over $200,000.
Have a great week, and stay tuned for next week’s
insight.
Cheers,
Dean Albanese
dean@coinace.com
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