Poll

Are You Buying, Watching, or Selling MCC?

I'm selectively buying undervalued items
12 (48%)
I'm buying aggressively
0 (0%)
I'm just watching the market
5 (20%)
I'm selling (some or all of) my MCC
3 (12%)
I'm always selling and buying
5 (20%)

Total Members Voted: 25

Voting closed: March 08, 2018, 03:29:40 PM

Author Topic: Are You Buying, Watching, or Selling?  (Read 2633 times)

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Online Mirkkanen

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Are You Buying, Watching, or Selling?
« on: March 01, 2018, 03:29:40 PM »
The forum is pretty quiet these days. Seems like we are in between cycles, or on the tail end of a down cycle. Prices seem pretty low. Just wondering what everyone is up to. Please respond as you see fit.

Offline Jens

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Re: Are You Buying, Watching, or Selling?
« Reply #1 on: March 01, 2018, 03:56:18 PM »
I'm mostly watching, sometimes offering some things but not in a hurry to sell those.
Market seems slow indeed, i might pick up something if the price is right but atm my attention is mostly on the crypto craze, i don't have invested much there but it is interesting to play around with it a little.

Offline Panda Halves

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Re: Are You Buying, Watching, or Selling?
« Reply #2 on: March 01, 2018, 09:08:31 PM »
Watching mostly. I did pick up a 2016 one of first 1000 struck piece though.

Online Mirkkanen

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Re: Are You Buying, Watching, or Selling?
« Reply #3 on: March 02, 2018, 12:12:14 AM »
I have been watching the market for gold and silver pandas closely, but I haven't made a significant purchase for about 8 months or more.

That being said, I am hungry and I want to buy! I am seeing prices on semi keys and key dates (in gold) that we haven't seen for at least 18-24 months and I think we are nearing a bottom in this cycle. Picking up a 1997 1/2 for $2600, for example, is not bad as compared to the $4000+ it would have cost you last year. Picking up a 1994 1/2 for $4800 is not bad either, considering the range on that coin was between $6k and $10k last year. Still, you may be sitting on that nice purchase for a while. No guarantee it will revisit those higher prices any time soon.

Maybe I will become a selective buyer soon, but with so many nice coins available right now, it is hard to determine how to prioritize my funds.

Offline KeyDate1/2ozPandas

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Re: Are You Buying, Watching, or Selling?
« Reply #4 on: March 02, 2018, 12:18:25 AM »
My answer changes week to week, as of this morning I would say just watching all week, but tonight buying aggressively, because an investor needs to sell to pay business taxes.  The best strategy is to sit back and let the market make the decision for you, if opportunity to buy arises at profitable price, then buy, if opportunity to sell at profitable price, then sell, otherwise just watch during this slow period.   

Offline PandaCollector

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Re: Are You Buying, Watching, or Selling?
« Reply #5 on: March 02, 2018, 02:41:47 AM »
I bought 3 modern Chinese coins, one Panda-themed USA medal and one French medal in Long Beach last week. I traded the USA medal for a Chinese one at the show. Rarely do I go to a coin show without buying something. The French medal was an unusual purchase for me, but the design (1920s or 30s) was too beautiful to pass up.

Best wishes,
Peter Anthony
China Pricepedia
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com`




Offline 1668Chris

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Re: Are You Buying, Watching, or Selling?
« Reply #6 on: March 02, 2018, 12:03:23 PM »
I am constantly buying rare and unusual.  Anything from 1987 missing mintmark, 1992 high 2, errors, hard to find varieties.  Also, I can never pass up a good deal on a platinum panda when available.

Offline bonke

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Re: Are You Buying, Watching, or Selling?
« Reply #7 on: March 02, 2018, 12:07:56 PM »
With the help of Nam Chong Cho, I purchased a General Guan Yu medal at the Long Beach show.  He saw the buying opportunity and helped me purchase this medal (while I was still enjoying the deep snow and cold weather at home).  As you may imagine, the market for these older medals is weak and there is no real competition for them.  Prices are still declining.

I have been selling silver American Eagles at multiple coin shows since last summer.  The demand for rolls or boxes of these coins is weak and difficult to sell retail or wholesale.  I have one more box to sell and then I will be free from this burdensome task.  I hope to never own silver bullion again.

I will be selling gold and platinum American Eagles during the next year.  I do not know if I will sell this bullion at coin shows or directly to dealers by mail.  I am undecided.  I thnk there is limited retail demand for this bullion (unless you have a well established website and customer list).

I agree with Peter.  Sell one or more coins each year.  I have found it very easy to buy coins and medals, and I have found it very difficult to sell them at any price.  As a collector, I am almost always selling at a loss.  Definitely, if this were a business, I would be bankrupt and starving.

Mark Bonke

Offline baron88

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Re: Are You Buying, Watching, or Selling?
« Reply #8 on: March 03, 2018, 11:36:48 AM »
I was buying aggressively in 2016,  but last year only bought one coin, and have been watching and observing the market ever since. I used to think the long term profit potential in MCC is huge, due their very limited supply, as compared to the population in China. Now I believe this concept is just a myth. That said, I am a buyer now if I can find great deals in key or semi key coins. For bullion, I would buy silver, because it is cheap compared to gold. Bullion coins will be back in demand, I believe, when price takes off. Now is definitely not the time to sell at a loss.

Offline KeyDate1/2ozPandas

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Re: Are You Buying, Watching, or Selling?
« Reply #9 on: March 03, 2018, 10:39:58 PM »
I am with Mark, I will never buy silver again, it is too bulky to deal with whether you take it to a show or ship.

Offline aragog

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Re: Are You Buying, Watching, or Selling?
« Reply #10 on: March 04, 2018, 08:28:57 AM »
As a collector, I am almost always selling at a loss.  Definitely, if this were a business, I would be bankrupt and starving.

Mark Bonke
\The same here. Whenever I was buying coins as a collector and then trying to sell, I was always on the short end. Basically, the reason for it is that I am affected with my prices, as I want the coin and ready to pay for it more than its intricate value at the specified time. And it would take years so the market value reches my wish price to get the coin.
On the other hand, when I buy the coin based on the knowledge of my previous area of interest that I am no longer passionate about, my knowledge allows me to buy the coins with 50% discount, so I can sell them almost at double price immediately. At present I wish I had a broader knowledge of numismatics, so can can make money based on my knowledge and buy more coins for my collection.
I am building my collection only from $$$ I earn from sold coins.

Offline KeyDate1/2ozPandas

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Re: Are You Buying, Watching, or Selling?
« Reply #11 on: March 04, 2018, 08:21:47 PM »
Collectors on average lose money simply because the transaction costs (bid/ask spread, dealer overhead, dealer opportunity cost of capital to hold inventory) are sizable in this industry, at least 10-20%. 

Almost every purchase I made as a collector whether it was sports cards or coins has lost money.  I am no longer collecting anything, just investing.  Investing requires you to buy things you don't want to collect but is priced so well that you can't say no, perfect example was Munich silver pandas, I was buying a gold panda collection from a collector at about 90% of market value, he also wanted me to buy a bunch silver Munich silver pandas, I didn't want them so I offered 50% of market value, he said fine, I got them graded, ended up selling the Munich lot at 400% profit, while the pandas I made like 15% profits. 

Offline PandaCollector

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Re: Are You Buying, Watching, or Selling?
« Reply #12 on: March 05, 2018, 03:26:48 AM »
I used to think the long term profit potential in MCC is huge, due their very limited supply, as compared to the population in China. Now I believe this concept is just a myth.

The latest China Pricepedia visits a Chinese company that, among other things, sold out an issue of 2 gm gold on polymer souvenir notes. All sold inside the People's Republic; it was never offered outside the country. How many? 500,000 mintage. Gone. Used up a ton of gold – literally — and not even their top item.

Best wishes,
Peter Anthony
China Pricepedia
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com`

Offline pandamonium

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Re: Are You Buying, Watching, or Selling?
« Reply #13 on: March 05, 2018, 07:40:42 AM »
2gm gold polymer notes is a good example.    Like China said they will not sell the world any coins/medals when their domestic market can buy them all up.....


Prices of bullion is still heavily manipulated.     It is a matter of time for bullion and the Chinese market to break out.     Weak hands are selling.    Strong hands are buying at these cheap prices...

Goldseek    listen to Alasdair Macleod   "Oil yuan futures to start later in the month...."

Many articles today point to China's gold holdings and upcoming gold backed Yuan.      We all have the right to take it seriously or view it as conspiracy theory.     I agree w/ many authors that this is the year for gold/silver to break out......

Offline bonke

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Re: Are You Buying, Watching, or Selling?
« Reply #14 on: March 05, 2018, 08:21:06 AM »
Peter

Your example shows the significant change in China.  For several years in this century, China Philatelic sold gold stamps with 3 or 3.1 grams of gold.  These gold stamps were low mintage items and would remain unsold in the China Post offices in Beijing from month to month.  I bought several for my stamp collection and my older brother's stamp collection.  As a foreigner, this opportunity was readily available.  This opportunity should no longer exist in the new world in which 500,000 gold notes are sold out.  I wonder if these notes were sold to the average person or to one of the new wealthy Chinese businessmen?

Mark Bonke