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Auction

lumpOgold

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#2
Ugh, Those things are always overpriced and then with the premium on top of it, stackers are totally priced out.
 

GOLDBRIX

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#3
Ugh, Those things are always overpriced and then with the premium on top of it, stackers are totally priced out.
I for one have always found my best buys at auctions. Yes, amateurs and newbies can easily get caught up in "Auction Fever" it is up to you the prospector to have DYODD and know the price(s) you are willing to pay.
What is your tactic ? Flipping ? or Buy and Hold ?
Each has a different effect on purchase strategy.
30 years ago 1 bought two rolls of Kennedy halves at $30.00. today each roll is worth $114.40. And they have never been culled for numismatic value, and yes most are in BU conditon.
Another auction I bought Rosie Dime Rolls at 15.00 ea. And "expert" behind me "teaching a rookie" answered the rookies question "That's High Aint it?' "Expert said "Yeah there aint no money in those".
Yeah I don't have that $30.00 but those two rolls will buy me 100 gallons of gallon TODAY.

lumpy, reading your post I'd say you flip more than you hold. MWAG
 

lumpOgold

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#4
I for one have always found my best buys at auctions. Yes, amateurs and newbies can easily get caught up in "Auction Fever" it is up to you the prospector to have DYODD and know the price(s) you are willing to pay.
What is your tactic ? Flipping ? or Buy and Hold ?
Each has a different effect on purchase strategy.
30 years ago 1 bought two rolls of Kennedy halves at $30.00. today each roll is worth $114.40. And they have never been culled for numismatic value, and yes most are in BU conditon.
Another auction I bought Rosie Dime Rolls at 15.00 ea. And "expert" behind me "teaching a rookie" answered the rookies question "That's High Aint it?' "Expert said "Yeah there aint no money in those".
Yeah I don't have that $30.00 but those two rolls will buy me 100 gallons of gallon TODAY.

lumpy, reading your post I'd say you flip more than you hold. MWAG
Nope, most go into my boat anchor. I rarely flip something unless it's an oddball that I don't want to hold for decades. (European gold or odd silver foreign coins...) And then I sell it locally or here on the forum, want some European 20 Franc gold?

Let's use Forever stamps from the USPS, I bought a lot when they were $0.39. and have been very disappointed that the stamp prices haven't gone up faster. Just looking at the last 10 years, stamps went up to $0.44 in May of 2009, and this year they are going up to $0.55. Seems like a nice $0.11 or 25% profit.

But if you actually account for inflation over the last 10 years, according to the geniuses at our gov't the 10 year inflation rate has been about 19.5%, so if I take my $0.44+19.5% = ~$0.53, which means those stamps are worth $0.53 in adjusted dollars, giving me a return of less than 5% over 10 years. I can do better than that in CD's at the bank or Bonds from my local municipality. So a poor investment.

Silver has done almost as bad over the last 10 years if you held it through the spike to $40+ per oz.
In real buying power, silver at $15 is WAY cheaper now than silver was at even the bottom in 2009 @ $12 per oz, if you include the 2000's and 1990's then inflation takes a HUGE bite out of your "profits".

I don't know where you buy gas for $1.20 a gallon, but that $15 Roll of Roosies has only quadrupled in US dollar value over the last 30 years, to the high $50 dollar range.
So even if you'd bought gas and hedged a barrel or two inflation would still bite you. Cumulatively, 30% inflation in the 1990's, 28% in the 2000's and 10% from 2010 to now.
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And that's why I buy gold and silver for a different purpose. I like it! A couple of $10 gold Eagles sound real nice in your pocket. I never expect to "make money" off my stash, but if the US ever suffers from economic collapse, I'll be ready.
 

GOLDBRIX

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#5
Silver has done almost as bad over the last 10 years if you held it through the spike to $40+ per oz.
In real buying power, silver at $15 is WAY cheaper now than silver was at even the bottom in 2009 @ $12 per oz, if you include the 2000's and 1990's then inflation takes a HUGE bite out of your "profits".
I blame the vast spread difference between gold and silver on the Bankster class.

If you read the book The Wizard of Oz by L. Frank Baum you'll find the story is an allegory of the financial battle of East Coast supported Gold Standard and the Western states support for Silver as the standard for a monetary system. In the book Dorothy's slippers are silver walking the Yellow Brick Road (gold).
As we all well know now J.P.Morgan and the East coast machine won that political battle.

In world history at times silver was more valuable than gold as a form of trade, and then there is the longest history where there was a 15 to 1 Silver /Gold ration.

Silver gets used and destroyed. Gold is stored and little is used compared to silver.
Mining silver in any great amounts is harder to find than mining for gold.