The problem with modern proof coins is there’s literally a new one released every few weeks and mostly in runs of a few thousand so aren’t all that scarce when you factor in the actual amount of buyers for what are often niche sets with a small pool of interest.
Hi Backyard Bullion! I have two main collections, my Morgan Silver Dollars, and my American Silver Eagle Proofs. My Morgan Silver Dollar collection has gone up considerably, since they are old, rare, and the most popular coin to collect. I created my American Silver Eagle proof collection to give to the next generation, so I'm not expecting to make anything on them, but I do hope my family will! (100 years from now maybe?) 😎BTW...I was tempted to collect the Queens' Beasts coins, but I never did, since I was concentrating on my Morgan Collection at the time!
Brilliant Video BYB! I agree with all your points. I'ma stacker for weight only (Specifically Britannia's) - So I don't worry about this specific topic but I also think the Prices/Demand for Proof will come back up when people become more financially settled again.
I remember a time when I was laughed at by a friend for buying proof half sovereigns. They were silly prices compared to bullon. They were £100 each. It was about a decade ago.
Also remember about eight years ago I brought my first ten britannia's and couldn't wait to show my friend, had laid them out on a table covered with a tea towel, the great reveal I pulled off the towel and showed him the coins then he looked at me liked i had done something wrong and like i was mad, still have the coins today.
Just got a Myths & Legends coin today from a dealer with a noticable dent in the queens cheek. Not sure if I should try to return it. Surely gonna say it's only bullion but the OCD!
I am worried about my boss at work. He collects coins, and we were talking about where we buy ours when he told me that he likes the Westminster collection and Hattons of London. I don't like some of what I have seen in prices from them.
@BackyardBullion I will try to talk to him more about where he should be buying from. But I dont have any idea what he should do about what he has already bought.
Great engravers bubble absolutely crashed. Seeing prices between £300 - £900 depending on whether piedfort and PF70. Proof sovereigns have a very long history with a veritable army of collectors. Some years have epic auction premiums, e.g. 1980's, 90's, 1989, etc. It's my personal preference rather than releases like Queens Beasts.
Yes, is the wave of buying capital, finally passing that series by as time moves forward. There's always going to be the new hot series. This is the argument to stick to the bullion. The buy in for collectors just wanting to complete a set is lower, but still a profit for those that got in early. But not in a buyers market as the video was pointing to. An independent dealer channel was talking a couple of days ago, about how he's having trouble shifting full ounces compared to fractional. Thats not a good sign
@@meteoman7958 That's really cool meteoman. Are there any years which you've gotten multiples of? Like the 2002 Golden Jubilee for example? And do you collect multiple sizes?
You could make an analogy with stocks: Defensive stocks like staples for difficult times, growth stocks like tech stocks for optimistic times, and hyped up stocks like a certain graphics card producer right now. Similar for coins: Defensive precious metals which do well during difficult times like common bullion, growth precious metals which do wel during optimistic times (when people have the funds to splurge) like collectible proof coins with an art-premium, and hyped up precious metals like the Una and the Lion. Perhaps it's a form of diversification.
In the long run... I don't think many of these modern proof and limited coins will be worth much over spot. A similar thing happened in the 70s (late 60s to early 80s). Medals where all over the place and made for every small event. Many really beautiful high relief one in limited runs. However most doesn't fetch over spot these days. I believe these modern coins will suffer same fate oh no, you didn't get that very limited nice one - don't cry you can get this just as limited and nice one instead. And yes then there's the apparent even of coins going the same fate as stamps although stamps has no material value - coins will always have. Therefor for me it's modern bullion for 1 oz coins (Krugerrands first of all) and then vintage coins for all the smaller one. Sure I'm not blind should I spot a nice deal. Not only are many vintage coins not that expensive these days making them great bullion (very low spread). But the nice ones also has the potential to gain collectors value.
Interesting to hear your change in perspective on a number of the matters addressed. The shift to silver proofs was surpriseing. I'm happy to be sitting on the half coronation proof Sov, the full I missed out on, but I won't be in a hurry to pick one up, certainly not at the extraordinary RRP. I can see the point in RRP drift (devil's advocate time), in order to help collectors in a way, by tamping down flipping by eating all their prospective profit taking some of the heat out of the flipping market and stabilising prices for people that are the actual end buyer of the coin, collectos, not speculatos. But in a cooling market, RM should cool off on their expected profit margin, or reduce the mintages.a proof shouldn't cost more than double the gold price, unless it's got an heck of a story to tell.
I actually like my proof coins in the OMP. Even the proofs I've submitted for grading are displayed with the OMP, and cert. If you don't get a perfect grade the slab isn't worth it. A PR 69 = a proof in the OMP in most cases.
I like proof coins but if I was buying gold and silver purely for investment then I would stick to bullion. It is difficult to judge whether a coin will be desirable. Many coins will gain and hold value over time but I think most proof coins will end up a similar value to the bullion counterparts. I am buying the Star Wars 1oz silver proof, I get the silver Tudor beasts and have bought a few of the 5oz proof British monarch series. My thought process for proof coins is that I buy them because I will enjoy them. Even if I lose money on them in the long run there is value in appreciating them.
I have a huge amount of Canadian proof silver and gold coins in my collection, all bought as bullion for small premiums over spot. On average, they are 10 to 20 years old with some up to the late teens. They are great to stack and great to collect. So beware buying new high premium coins expecting them to go to the moon.
Sage advice. Speaking to that idea, I saw a gold echidna proof the other day (which I should have gotten) for not much over spot on a reputable store's website. Want to collect the Royal Australian Mint currency set in gold eventually, (don't care the year) in gold by buying individual coins. Should have jumped on it, but prevaricated. Anyway, what it demonstrated, was that coins like this aren't inaccessible. I certainly didn't want to pay full freight proof price. So if you are a collector and patient and don't need the latest thing. Stuff you want, will come up, eventually. I've seen this with proof Brits and all manner of coins.
Auctions are a good place to pick up older proof coins at reasonable prices, I was lucky enough to ptck up a gold quarter ounce proof britannia for 180 pounds and it had a mintage of 750, also got a nice 1847 gothic crown for 2k 😆
@@abc-ye2ec Oh. 2K, well done. And a good example. Pays to keep an eye out for an opportunity, if you know what you're looking for, sometimes it's delivered into your lap, by providence or just the power of turning up.
Just a thought. The more the government seems bent on debasing the currency, the more some people will turn to precious metal. In this instance, the people who are usually in the market for proof coins, might now be concentrating on ounces. Perhaps trying to sell their proofs, to buy more ounces.
I did get a couple proof sovereigns early , that was all. And true to who said buy the coin not the slab. There are some bullion and proof coins over here in USA that mints cranking out that went the same direction in price and demand. Hype and FOMO drove those prices also. The Morgan dollar for instance or how bout the silver Eagle hmmm buy what you can afford and what you like. Some where along the way have Fun and enjoy collecting, that's why I got into it at a young age in the early 60s and I still do. Remember buy the books then the coins and collect and stack smart. Gold ones go in the middle
The Royal Mint can produce a 1oz Silver Proof for around £100, so let's say you're paying £80 for the extra quality of a proof strike, low mintage and presentation. The Gold Proof mintage is often lower and presentation a little nicer so let's say £200 over the price of a 1oz Gold Bullion coin would be a much fairer premium
Man I hope it's the end of the scalpers/flippers because it seemed like everyone got bored during lockdown and just wanted to rip everyone off just because they had nothing better to do
Hi Mr2Badboybrown! From my experience with my Morgan Silver Dollar collection, they seem to be very evenly rated. I tend to use NGC more when grading coins, but that's mostly because they are in my home state of Florida! 😎More importantly, all others, seem to be a second, or third tier.
All I can say is that the elegance, beauty and shire iconic design's of coins that existed in the past isn't what they used to be. They just don't coins like they used to anymore
Premiums are too high and so easy to lose a big chunk if you re sell. I’m a stacker so price is king. Grading and how rare they are mean nothing to me. Horses for courses.
The fact we barely use cash now, will effect how people view coins in 40 years time. Our generation has a relationship with physical money. But the younger generation won't have and therefore won't have a soft spot for coins like we do. Stamps are having g the same problem now. As the older people who grew up collecting and using stamps are dying and my generation generally don't care about them.
The difference between stamps and coins (PM coins specifically) is that there's the value of the coin in the gold/silver, so there will always be a little interest in numismatics
@bb-eleven5785 oh for sure. There will be value of course. But that nostalgia of using and experiencing coins would have mostly gone. There's no real way to measure the exact effect, but it can only have a negative impact.
