So I was with my local coin shop dealer yesterday and had a very interesting chat.
I was curious to why he was so stacked up with gold (not so much silver) and at good prices.
He mentioned that this was always the case when gold was on the up or there was some kind of global crisis. Sellers cash in and buyers hold out expecting a correction. Once things settle down he says buyers then come back in, as they realise this is the new norm.
However what he then went on to say was quite interesting. He said during the 2008 financial crisis, it didn’t matter wether it was a gold proof, graded or of Numismatic interest (unless very, very rare), he was paying bullion prices and people were accepting. He went on to say that PM’s are not on the up because the world is all rosy. He was of the opinion that even at these levels it was good to buy, as when the SHTF scenario arrives (which he doesn’t feel is far off), then it will literally be unaffordable to the masses.
My initial thoughts were this was only in Portugal and then I remembered Tim from the Yankee stacking youtube channel saying something similar a couple of years ago.
So what are your thoughts? Do things need to be really, really bad for this to happen, or will indeed the majority of gold being proof, numismatic or graded be the same as bullion? I guess if you need the money you’ll take what you can get 🤔