By Paul M. Green, Numismatic News
August 03, 2009If you feel obligated to check the price of precious metals every day, you can probably relate to how I was feeling back in the last half of 1979.
Gold was on its way to $850 and silver to $50 an ounce. Such a frantic market in gold and silver can be very disruptive to those who really only care about truly rare and interesting coins. I made a lot of money - at least a lot of money by my standards back in 1978-1980 when the price of gold hit its peak. Certainly, I was not alone. In fact, everyone made a lot of money as we basically could not lose.
Over years of collecting and saving most of us had significant numbers of silver coins saved from circulation for their face value. To have a VG-8 Morgan dollar that my grandfather had given me suddenly worth $25 was found money if there was ever found money. That situation was repeated over and over again with even many of the coins that had been purchased like proof sets or things like 1955 Roosevelt dimes suddenly at prices we had never imagined possible and that was just because of the silver value. It had nothing to do with a new heavy demand for low mintage Roosevelt dimes.
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=7076
August 03, 2009If you feel obligated to check the price of precious metals every day, you can probably relate to how I was feeling back in the last half of 1979.
Gold was on its way to $850 and silver to $50 an ounce. Such a frantic market in gold and silver can be very disruptive to those who really only care about truly rare and interesting coins. I made a lot of money - at least a lot of money by my standards back in 1978-1980 when the price of gold hit its peak. Certainly, I was not alone. In fact, everyone made a lot of money as we basically could not lose.
Over years of collecting and saving most of us had significant numbers of silver coins saved from circulation for their face value. To have a VG-8 Morgan dollar that my grandfather had given me suddenly worth $25 was found money if there was ever found money. That situation was repeated over and over again with even many of the coins that had been purchased like proof sets or things like 1955 Roosevelt dimes suddenly at prices we had never imagined possible and that was just because of the silver value. It had nothing to do with a new heavy demand for low mintage Roosevelt dimes.
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=7076
