Cashing in my finds (hear me out first!)

[Weaselbrott]

I have really been very tempted to trade in some of my coin roll hunting finds for gold lately, and today I did just that. I traded 7 rolls of 40%ers ($70 face), and 4 rolls of 90% FDR dimes ($20 face) for this beauty:

And then I bought this one with some savings:


Before you tear me a new one, I was just diversifying a little bit. This was only a fraction of my stash, and it was always my intent to trade in my 40%ers for gold once I got there (not so much with the 90% dimes, but still...). I love pre-1933 US gold coins, and these are two of my favorites. I am a believer that silver is due to perform well in the coming years, and outperform gold in many ways, but I like to have my eggs in a few baskets... I feel like this is a safer move. Anyway, this is one of my CRH goals and I did it! Feel free to look back and laugh at my investment if silver skyrockets; I'll still have plenty Happy Hunting guys!

 

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[CC-Hunter]

Nothing wrong with that!

 

[bigscores]

Nice gold. If/when I move into gold with my CRH finds, I will pick items with high numismatic premiums, as that insulates me against falls in the spot price of gold.

 

[Weaselbrott]

Nice gold. If/when I move into gold with my CRH finds, I will pick items with high numismatic premiums, as that insulates me against falls in the spot price of gold.

Smart.

 

[FreedomUIC]

Nobody is going to tear/rip/shred/destroy/flame you for doing that. I just traded in some of my CRH finds for two 1/10 oz AGE 2006-W (Collectible).
My goal is similar to yours, old gold and not bullion but I couldn't pass up the price I got on them.
I will probably keep my dimes (653) and turn in some halves to get a $20.00 dollar gold piece shortly. I will not part with my Maple's or ASE's, for that matter my stash of Morgan's falls in the same category of not going anywhere either.

Smart Move on your behalf.

 

[fistfulladirt]

Cool, that's what I've been doing with my 40%. I stopped buying at $900 gold because it "was too expensive". I started up again at $1,600, waaaaaaaahhh! A little bit of raw, a little graded.
You made a good move.

 

[Numismaniac]

I do the same thing! Gold takes up less room

 

[ArkieBassMan]

Regardless of what anyone thinks, so long as you're happy after the trade is done and over with, then you made a good trade. It doesn't matter what you traded or what you received.

That was exactly my intention when I started to CRH. I was gonna add any 90% silver found to the hoard and hopefully find enough 40%ers to swap for the old U.S. gold that has eluded my detector for all of these years. Of course, when I started silver was around $15/oz. and fairly quickly made its run to nearly $50. That run apparently changed my mind as I have yet to trade a single coin or even attempt to find out what kind of deal I can get.

 

[Local_coins]

No tearing of rear ends here. I do (almost) the same thing with my coins. I sell my 40%ers for gold. There isn't much that would get me to sell my 90% coins.

having said that, those are some gorgeous coins and I know you are pleased with them! Been considering some Indian Head gold myself.

 

[SilverForBrains]

Those are beautiful coins, I'd say nice work!

 

[BuffaloBoy]

Hey Weaselbrott, sweet investment, i've been considering diversifying into some gold as well, thanks for sharing, I love pre 1933 US gold coins too, but never have/had the money for one.
HH
Buff

 

[Wilmingtonsilver]

Weasel, I think that was a great deal and a smart move. Diversifying is always a smart move, especially when those look so sweet. Thumbs up bud.

 

[Dark]

I can't argue with diversification. Especially with such a beautiful coin like that.
If you want to hear the opposite viewpoint though...
The gold to silver ratio is out of your favor right now and you might have done much better waiting a while longer. Gold is way overpriced compared to silver right now, in my opinion.
But at the end of the day I am sure those were worth it to you. Investing always involves risk. You never know; they might find some huge silver vein tomorrow and the price will plummet. :-P
By the way, I am happy to see someone buy some old gold compared to a new American Gold Eagle bullion round.

 

[MIhunter]

I agree with buying gold
I just bought a 1852A French 20 franc coin for spot.
It makes no sense to me to trade 40%ers for ASE or 90%ers you lose silver without any real diverisity of investment.

 

[Weaselbrott]

I can't argue with diversification. Especially with such a beautiful coin like that.
If you want to hear the opposite viewpoint though...
The gold to silver ratio is out of your favor right now and you might have done much better waiting a while longer. Gold is way overpriced compared to silver right now, in my opinion.
But at the end of the day I am sure those were worth it to you. Investing always involves risk. You never know; they might find some huge silver vein tomorrow and the price will plummet. :-P
By the way, I am happy to see someone buy some old gold compared to a new American Gold Eagle bullion round.

I am quite aware of the "silver is going to the moon" mantra, and that is why I got into CRH to start with, but like you said, it comes down to risk, and buying these was a way for me to spread out my risk in the event that silver becomes as plentiful as tinfoil. I guess I want to be prepared for as many scenarios as possible.

 

[0121stockpicker]

Guys, gold and silver are two of the most highly correlated investments in the financial industry. You are just not going to get much of a difference in return from the two asset classes. Silver just tends to be a little more volatile. It is highly unlikely that the two metals would ever head in opposite directions or significantly diverge from their historic trading range ratios.

The platinum group metals have less of a correlation to gold and or silver given they are more impacted by a strong economy given their industrial uses.

Best of luck to everyone.

 

[Weaselbrott]

Guys, gold and silver are two of the most highly correlated investments in the financial industry. You are just not going to get much of a difference in return from the two asset classes. Silver just tends to be a little more volatile. It is highly unlikely that the two metals would ever head in opposite directions or significantly diverge from their historic trading range ratios.

The platinum group metals have less of a correlation to gold and or silver given they are more impacted by a strong economy given their industrial uses.

Best of luck to everyone.

Quite true, however, many of the applications for platinum ie(. catalytic converters) are starting to use cheaper metals in production. I just heard of a company that is starting to use silver instead of platinum. You might argue that if auto companies make a change to silver in their CCs, it will drive up silver prices too, and what impact might that have on platinum if it is abandoned for industrial use?

 

[JobIII]

I don't think people would mind you trading up. The last thread to get a lot of negative comments had to do with someone selling their silver to buy something with the money.

Keeping it in the family of precious metals seems to be okay by the TN mob. Cheers on the upgrade!

~JobIII

 

[kookoox10]

Great job with the flip job. I've always seen CRH'ing as a way to seed your desire for bigger pieces. I'm a coin collector and have used the finds from CRH'ing as a way of affording some of the better pieces in my collection.

 

[TheMastermind]

Nice coins!

I did some repair work for an older fellow on my street after Hurricane Sandy blew through. I charged the guy $200 to completely mend his torn down fence, put in new poles with new concrete, fix his gutters and siding, and cut up a tree that had fallen in his backyard.

After I was done he invited me in for a late lunch that his wife had made. I noticed a loupe sitting on his desk and I asked if he was a jeweler. He said no, but that he used to own a coin shop in the 90's but is retired.

I told him that I collected coins, and he asked if I'd be interested in receiving a coin as payment instead of cash. I didn't need the cash, but I was going to use it to get back into CRH. So I said sure, I'd be interested, but I'd have to look at it first.

He came back with a 1/10 ounce gold Krugerrand. I gladly accepted it, as I've been meaning to get some more gold.

Made a new friend as well.