With the purchase of a 1785 nova constellatio in MS62BN, I finally completed my favorite display today. When I was 13, I bought my first Fugio cent raw for $400 in 2019. Ever since then I was hooked. While this certainly isn’t the end of my collecting journey, it is definitely a landmark that I am proud to share!
I don’t play all that much anymore but stopped for a monster and 2 of these yesterday and this was the result. Probably won’t be buying more after this because this was all my luck
I saw a post earlier about someone being unhappy with what their LCS offered and I wanted offer my perspective and open up the conversation to more attention because it is very important. Please note I am not trashing on anyone. PMs are a roller coaster, especially silver right now. If you don’t like what your LCS is paying, don’t sell!
I am 19 years old, bought my first silver at 4, and I currently work for my LCS. We typically pay 90% of spot and sell for +$3. As of right now, our refiner is paying us $12/oz back of spot. I have bought over 5000 ounces this week and sold maybe 20 ounces. I simply cannot afford to keep paying 90%, and neither can many shops.
Put yourself in my shoes:
-You are unable to sell silver to the public at the rate you’re taking it in
-Your wholesaler is paying $12 back of spot
-Your customers are demanding you buy silver from them
Obviously the shop has to make a profit to operate, and you need to buy to keep the business running, but paying strong right now is essentially drinking poison.
If you owned a business, what would you pay for pure silver right now, or would you just stop buying?
Just kidding!
Do you have any coins in your collection that make you wonder why in the world anyone would collect it?
With a Greysheet retail of a whole $.80, this nickel leaves so many questions. The only reason I bought it was as a curio because it’s not often you see such an inexpensive coin in an OGH.
Also, the coin is undergraded. If CAC accepted them, I’d send it in for a gold CAC. In my opinion it’s a 65 full step
As a part of my colonial collection, I have recently been putting together a set of fugios. Currently, I have 15 fugios (including this one) ranging from Po/Fr all the way to a PCGS MS62. I hardly ever check eBay due to the high prices. However, I saw this and knew immediately it was underpriced. Unfortunately, as time passes, less and less rare varieties exist to be cherry picked and more and more are put into collections that won’t see the market again for decades, making them increasingly hard to find at a bargain. This is a Newman 11-A, UNITED above. There are around 30 known for this variety, most being AU+. There is one in a PCGS F12 holder, which sold for a little over $7k in 2016. I am not sure exactly where I price this piece but at a price of ~$350, I knew I couldn’t lose.
Edit: confirmed the coin is counterfeit, probably shouldn’t be buying coins past midnight
Today I was finally able to purchase one of my grail coins. I have been collecting colonials for about a year now and although I have 13 other fugios, none of them are uncirculated. Today I broke that curse and bought this Newman 13-X in PCGS MS62 BN.