The Zurich coin fair which is held once every year has numismatists from Zurich, Basel, Geneva, St Gallen and a few smaller cities. In addition UBS has a speed auction where you have a variety of coins and lots auctioned at a fast pace.
The numismatists at the coin fair offer from ancient to modern coins. They have copper, silver and gold coins. If you have a large list of coins from different countries it is more likely that you will have to visit various numismatists. Not one numismatists has all the coins that you need because they usually bring a small stock or are specialized in a type.
The coin fair was at the Swissotel which is chain of Swiss hotels. The hotel is in front of the Oerlikon Train Station which is about two stops from the Main Train Station. The hotel is very nice and offers a variety of services which include spa, gym and swimming pool.
Staying at the hotel was a good choice because it was in the same building as the fair and one can enjoy the hotels amenities once the fair was over.
I had a small list of coins I wanted to get thus it was easy for me to look around for nice coins at a nice price. I was also able to talk to some people that I have met in the past. Usually it is good to talk to this people because they have a lot of information about coins and they will help you if they have time.
There were a lot numismatists selling gold coins since gold coins have been popular. One thing I found was that prices for coins of the same type and year varied greatly. You would be able to find a Swiss 20 Fr Gold coin for 255 with one numismatists and 275 with another. So I had to be careful not rush into buying a coin.
Although I did not participated in the UBS speed auction, I have the opportunity to sit down and watch. The auction was going fast thus the participants would have to make sure that limits were put on their bits because one could easily get got in a biting war with someone else.
I had no idea how the speed auction worked so I asked a lady working for UBS and she kindly explained to me the process and requirements to participate in a speed auction. It is actually fairly easy, you show up, give UBS your name then you are given a number. The auctioneer will start with the starting bit and from their people will raise their number if they are willing to pay the auctioneers mentioned price. If you win the auction you wait until the end of the auction to pay and pick up on the spot your winnings. One thing about the auction, you pay the biting amount plus the auctioneers fee.
I spent only one day at the coin fair but it was enough to see and pick up what I needed.
Monday, November 1, 2010
Sunday, October 3, 2010
Rare Coins book
I just got done reading "The Expert's Guide to Collecting & Investing in Rare Coins" by
Q. David Bowers. It is an interesting book because it talks about the different aspects
of the rare coin market, different US rare coins and Mr. Bowers has many stories to tell.
The book starts with the explaining the dinamics of the rare coin market and gives information about investing in rare coins. Talks about coin grading and value. It explains how to buy and sell in the internet and through auctions houses. It also talks about different historical facts (market trends) about US coins. Then it goes more in detail on coin grading and then touches in detail the grading process or logic for different US coins. After it talks about the different coins it goes into paper money and tokens.
Of course, if you have read the book, then you probably have already formed an opinion on
the book and it would be great if you could share it with us. The book is very interisting because it covers many different elements of US rare coins but does not cover other countries.
In page 57 it says that "Rarity refers to the specific number of coins known to exist in
numismatic hands." It later states that "Rarity is important, but only in connection with
other factors." The factors detailed are Grade and Popularity. Knowing this, what coins
do you believe are rare and popular today?
In Switzerland, the Swiss 10 Fr Gold coin minted in 1911 (Net Weight: 3.2258g; AGW: 2.9g
or .0933oz; Grade: MS or Uncirculated; Minted: 100k Series dates: 1911-1916 & 1922) is
worth around 400 USD. The other dates are around 130 USD.
Q. David Bowers. It is an interesting book because it talks about the different aspects
of the rare coin market, different US rare coins and Mr. Bowers has many stories to tell.
The book starts with the explaining the dinamics of the rare coin market and gives information about investing in rare coins. Talks about coin grading and value. It explains how to buy and sell in the internet and through auctions houses. It also talks about different historical facts (market trends) about US coins. Then it goes more in detail on coin grading and then touches in detail the grading process or logic for different US coins. After it talks about the different coins it goes into paper money and tokens.
Of course, if you have read the book, then you probably have already formed an opinion on
the book and it would be great if you could share it with us. The book is very interisting because it covers many different elements of US rare coins but does not cover other countries.
In page 57 it says that "Rarity refers to the specific number of coins known to exist in
numismatic hands." It later states that "Rarity is important, but only in connection with
other factors." The factors detailed are Grade and Popularity. Knowing this, what coins
do you believe are rare and popular today?
In Switzerland, the Swiss 10 Fr Gold coin minted in 1911 (Net Weight: 3.2258g; AGW: 2.9g
or .0933oz; Grade: MS or Uncirculated; Minted: 100k Series dates: 1911-1916 & 1922) is
worth around 400 USD. The other dates are around 130 USD.
Tuesday, September 14, 2010
Gold passes the 1,270 USD/oz mark
Today was the first day that Gold prices were over 1,270 USD/oz. This without a doubt had to be an exciting day for those that have gold bars and gold coins. Of course, only in the US because while the oz of Gold in the US was going up, in other parts of the world it was going down. This is natural since the USD has been losing value against major currencies. The oz of Gold closed at 1,271.70 USD, I am curious to know what is going to happen tomorrow. Will the oz of gold quoted in USD continue to go up tomorrow or will it scale back down?
Sunday, September 12, 2010
Swiss 20 Fr Gold Coin (Vreneli)
Authorized by the law on January 6, 1896, the Swiss 20 Fr gold coin known as Vreneli was the legal tender in Switzerland. Vreneli is a variant of the Latin name "Verena" which means "True." This coin is also known as Helvetiakopf in German, Helvetia Head in English and Tête d'Helvetia in French.
Fritz Landry from Neuchatel, Switzerland, was the designer of this Swiss gold coin and his signature "F. Landry" appears in the obverse of the coin.
This coin was minted between 1897-1936, and later in 1947 and 1949. All the Swiss 20 Fr gold coins have the mint mark B for Bern, except for re-strikes of 1935 which have LB for Lingot-Bern. The Swiss 20 Fr gold coin weighs 6.45 grams from which 90% of the coin is gold.
The Swiss 20 Fr gold coin minted in 1926 is a key date having the lowest mintage, 50,000 coins and the 1935 LB has the highest mintage, 20,008,813.
Fritz Landry from Neuchatel, Switzerland, was the designer of this Swiss gold coin and his signature "F. Landry" appears in the obverse of the coin.
This coin was minted between 1897-1936, and later in 1947 and 1949. All the Swiss 20 Fr gold coins have the mint mark B for Bern, except for re-strikes of 1935 which have LB for Lingot-Bern. The Swiss 20 Fr gold coin weighs 6.45 grams from which 90% of the coin is gold.
The Swiss 20 Fr gold coin minted in 1926 is a key date having the lowest mintage, 50,000 coins and the 1935 LB has the highest mintage, 20,008,813.
Wednesday, September 1, 2010
Gold passes the 1,250 USD mark
The end of June was the last time that Gold was over 1,250 USD. Today is the first day that it has surpassed the 1,250 USD mark. For the past 4 weeks the price for 1 oz of gold has been in an uptrend. Just a few days ago the prices were flat but after taking a break the uptrend continues. Are we heading for the 1,300 USD mark? If so, when? Can we speculate and say that seeing how things are turning out around the world that golf prices will be above 1,300 USD before year-end?
If so, then it is a good time to buy gold. Although the price of gold in the US has been increasing other parts like in Switzerland it has been going down. Why? Well the USD dollar has been weak against the CHF and other currencies which will have an impact in Gold prices in other countries.One could take advantage of this if they had a way to buy gold in other countries. Imagine this, you are in one country and you have a way to buy gold and save it in another country. Of course you would have to have different currencies and you would have to be careful with the exchange rate.
If so, then it is a good time to buy gold. Although the price of gold in the US has been increasing other parts like in Switzerland it has been going down. Why? Well the USD dollar has been weak against the CHF and other currencies which will have an impact in Gold prices in other countries.One could take advantage of this if they had a way to buy gold in other countries. Imagine this, you are in one country and you have a way to buy gold and save it in another country. Of course you would have to have different currencies and you would have to be careful with the exchange rate.
Tuesday, August 31, 2010
Gold reaching 1.500 USD sometime next year
Gold has been rallying these past 4 weeks but suddenly slowed down. Wondering if the price was going back down I went for search of information. In the bloomberg site I found this article: http://www.bloomberg.com/news/2010-08-30/gold-rallying-to-1-500-for-analysts-as-soros-s-bubble-inflates.html
I was like wow, I guess the price of gold is taking a break before it continues its rally. If investors like George Soros, John Paulson are investing in Gold should we be doing it too? They have become economically successful for a reason and continue to be successful so they are doing something right.
Then for those that like to use technical analysis I found this article: http://uk.ibtimes.com/articles/20100831/gold-technical-precious-metals-2010-08-31.htm. According to his article the short term trend will be bearish.
My take as always is that the price for 1 oz of Gold will continue to increase. Yes there will be days where the price will slow down other days it will increase like we have seeing these past 4 weeks.
I was like wow, I guess the price of gold is taking a break before it continues its rally. If investors like George Soros, John Paulson are investing in Gold should we be doing it too? They have become economically successful for a reason and continue to be successful so they are doing something right.
Then for those that like to use technical analysis I found this article: http://uk.ibtimes.com/articles/20100831/gold-technical-precious-metals-2010-08-31.htm. According to his article the short term trend will be bearish.
My take as always is that the price for 1 oz of Gold will continue to increase. Yes there will be days where the price will slow down other days it will increase like we have seeing these past 4 weeks.
Friday, August 27, 2010
Prices for Gold reaching 1300 USD an ounce.
In mid-June prices for 1oz Gold was for the first time over 1250 USD. Then prices started to fall until the end of July. Since then prices have been going back up. Will the price for 1oz of gold top 1250 and go higher?
I've read mixed reports from different analysts. Some say that gold will be going as high as 1300 USD this year. It may be true since recovery has been slow in some countries and other large economies like the US have been reporting slower growth than expected.
Is gold going to reach the 1300 USD levels this year? If global recovery slows down or takes a turn for the worst and private investors looking for save investments turn to gold then I would say yes.
I've read mixed reports from different analysts. Some say that gold will be going as high as 1300 USD this year. It may be true since recovery has been slow in some countries and other large economies like the US have been reporting slower growth than expected.
Is gold going to reach the 1300 USD levels this year? If global recovery slows down or takes a turn for the worst and private investors looking for save investments turn to gold then I would say yes.
Thursday, August 26, 2010
Countries and private investors adding gold to their investments
The world economic crisis started in the end of 2007 because of overvalue of assets and banks' inability to pay their debts followed by the housing market downfall and large job losses. Since then many countries have put into place "Economic Aid Packages" to help boost growth which has given mixed results.
The US been the first to suffer from this economic crisis has continued to see the value of the dollar fall compared to other currencies from countries less affected by this crisis. This has triggered the revision of US dollar deposits held in many countries' foreign-exchange reserves. In addition, many countries have been looking for ways to diversify their economies.
China, India and Russia have been buying gold as a means of diversifying their risks and protect the value of their currencies. Many other countries may follow suit which will surely increase the value of Gold.
Let us not forget the private investor. Although there is no exact figures on how much gold is held by the private investor you can see that prices for 1oz gold has increased dramatically these past few years. The price of 1oz gold in Jan 1st, 2008 was 833.70 USD, today (Aug 28th, 2010) the price is at 1241.15 USD. That is a 48.87% increase of value in almost 2 years.
Many know that gold is a good investment during difficult economic times and returns are very good compared to other asset classes. If the value of gold continues to increase will central banks want to hold gold? How about the private investor?
It is difficult to answer both questions but gold has been a commodity sought by many throughout the centuries and it has been proven to be a reliable investment asset in difficult times.
The US been the first to suffer from this economic crisis has continued to see the value of the dollar fall compared to other currencies from countries less affected by this crisis. This has triggered the revision of US dollar deposits held in many countries' foreign-exchange reserves. In addition, many countries have been looking for ways to diversify their economies.
China, India and Russia have been buying gold as a means of diversifying their risks and protect the value of their currencies. Many other countries may follow suit which will surely increase the value of Gold.
Let us not forget the private investor. Although there is no exact figures on how much gold is held by the private investor you can see that prices for 1oz gold has increased dramatically these past few years. The price of 1oz gold in Jan 1st, 2008 was 833.70 USD, today (Aug 28th, 2010) the price is at 1241.15 USD. That is a 48.87% increase of value in almost 2 years.
Many know that gold is a good investment during difficult economic times and returns are very good compared to other asset classes. If the value of gold continues to increase will central banks want to hold gold? How about the private investor?
It is difficult to answer both questions but gold has been a commodity sought by many throughout the centuries and it has been proven to be a reliable investment asset in difficult times.
Subscribe to:
Posts (Atom)