Why are older gold coins often pricier than new ones?
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- dualstow
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Why are older gold coins often pricier than new ones?
EDIT: { SOLVED, I think. Krugerrand production lessened after 1984}.
For example, 1 oz gold krugerrands.
Random year is cheaper than 2019 coins, fine.
1980 coins are on sale at Apmex, but they are more expensive than 2019 issue coins.
Are they collectors’ items or something?
For example, 1 oz gold krugerrands.
Random year is cheaper than 2019 coins, fine.
1980 coins are on sale at Apmex, but they are more expensive than 2019 issue coins.
Are they collectors’ items or something?
Last edited by dualstow on Wed Jul 10, 2019 10:56 am, edited 1 time in total.
Re: Why are older gold coins often pricier than new ones?
I think the answer to your last question is yes. At some point gold coins take on a numismatic value as collector's item in addition to the actual value they have as currency. It was my understanding from HB's book that you should avoid such coins so I always go for the most freshly minted coins I can find.
Re: Why are older gold coins often pricier than new ones?
Why not go for the cheapest coins you can find, which will more quickly acquire this numismatic value than brand new ones?jacksonM wrote: ↑Tue Jul 09, 2019 7:43 pmI think the answer to your last question is yes. At some point gold coins take on a numismatic value as collector's item in addition to the actual value they have as currency. It was my understanding from HB's book that you should avoid such coins so I always go for the most freshly minted coins I can find.
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Re: Why are older gold coins often pricier than new ones?
Checked, but couldn't confirm. 'Old' coins are cheaper then 2019 coins here:
https://www.thesilvermountain.nl/nl/gou ... den-munten
- dualstow
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Re: Why are older gold coins often pricier than new ones?
Hmm, maybe it’s an Apmex thing. I’ll have to ask them sometime or read the FAQ.
Right now, their 2007 krugs are over $100 more than the ‘19 ones.
Right now, their 2007 krugs are over $100 more than the ‘19 ones.
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Re: Why are older gold coins often pricier than new ones?
I wondered about that, too, but that doesn’t explain the cheap random year coins, for which there is a further discount for higher volume.
Maybe there’s a subtle difference in the grade of the coin that I missed. I would only buy a proof coin as a collector’s item. Bullion coins are not really listed as such at Apmex. And, recent year coins have “BU” offerings- Brilliant Uncirculated.
Does Brilliant Uncirculated not count as bullion when you go to sell it? Are old, random year coins simply once-upon-a-time BU coins that have been around the block?
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Re: Why are older gold coins often pricier than new ones?
Hmm, in the details for 2007, it says
So drumminj, you’re right, and I would guess the random year coins are ‘84 and older.
Maybe this whole price discrepancy only applies to krugs. I haven’t looked at eagles for a while.Rarely offered Krugerrand from 2007. After 1984 mintage figures of Krugerrands fell off dramatically.
So drumminj, you’re right, and I would guess the random year coins are ‘84 and older.
Re: Why are older gold coins often pricier than new ones?
Interesting thread. I guess some degree of numismatic value gets imputed by the market even if the coin is intended to be purely a bullion coin.
It's always a bit arresting to think about the history and the hands that old coins have changed through.
It's always a bit arresting to think about the history and the hands that old coins have changed through.
MB
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Re: Why are older gold coins often pricier than new ones?
I just like the new, bright shiny ones. Figured they would re-sell better if I ever had to do that which I haven't.Xan wrote: ↑Tue Jul 09, 2019 10:01 pmWhy not go for the cheapest coins you can find, which will more quickly acquire this numismatic value than brand new ones?jacksonM wrote: ↑Tue Jul 09, 2019 7:43 pmI think the answer to your last question is yes. At some point gold coins take on a numismatic value as collector's item in addition to the actual value they have as currency. It was my understanding from HB's book that you should avoid such coins so I always go for the most freshly minted coins I can find.
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Re: Why are older gold coins often pricier than new ones?
I’m with Jackson. I have some random year coins. Some are nice, some cruddy. I don’t think a layman is supposed to polish them.
The new coins are more pleasant. They’ll probably end up in my nieces’ possession, so I’ll leave them something shiny.
The new coins are more pleasant. They’ll probably end up in my nieces’ possession, so I’ll leave them something shiny.