Oriental Redneck
| quote: Originally posted by marksman41: A 1996 1/2oz gold American Eagle (Proof); in a sealed plastic case, but with no grading or certification. A local dealer says he will only pay gold spot price for the coin, is that all it's worth? I see that APMEX is selling the same coin between $1100-$1300 so that's where my confusion is coming from.
Yes. This is just a GAE, and an uncertified ungraded one. Nothing special about it. It's not a Saint-Gaudens.
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Too old to run, too mean to quit!
| Some gold coins have collector values above market price for gold. Having said that, one has to be very careful when dealing in the "gold coin" market. Some of them are not solid gold, rather gold plated, and the plating is VERY thin.
Elk
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FBHO!!!
The Idaho Elk Hunter
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| Elk - it's definitely the real deal as far as the quality and quantity of gold, and the dealer mentioned it was a proof coin so that helps somewhat. 12131 - Would getting it graded/certified substantially increase the value?
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| Posts: 4981 | Location: Arkansas | Registered: September 04, 2008 |
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Oriental Redneck
| quote: Originally posted by marksman41: 12131 - Would getting it graded/certified substantially increase the value?
Very little, if at all, unless you can get a grade of PR70 (that's perfection). Any little increase in value would have been negated by the cost of certification. Certifying/grading these common coins gives you the peace of mind that they are guaranteed to be authentic. But, it looks like the dealer already knew that.
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The Unmanned Writer
| What a dealer will sell you one for vs what the dealer will buy one from you is the difference you are experiencing. Call AMPEX and ask what they will pay you for it. Plus or minus a bit of a premium, gold/silver are worth their spot weight. The fact the dealer will give you spot is an indicator the coin has some collecting value otherwise the offer would be less than spot ("buyer's premium" I think is the term).
Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.
"If dogs don't go to Heaven, I want to go where they go" Will Rogers |
| Posts: 14034 | Location: It was Lat: 33.xxxx Lon: 44.xxxx now it's CA :( | Registered: March 22, 2008 |
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Oriental Redneck
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Only the strong survive
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My dog crosses the line
| It is bullion in the shape of a coin.
I'd reach out to David Troung. He makes it easy and safe. |
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| Many thanks guys - your knowledge and advice is a huge help! (As always )
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| Posts: 4981 | Location: Arkansas | Registered: September 04, 2008 |
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Oriental Redneck
| quote: Originally posted by Jeff Yarchin: It is bullion in the shape of a coin.
Very true. But some of them are highly valued and sought after. An example is the 1995-W $1 Silver American Eagle in grades, say, PR69 - PR70. They are in the thousands of dollars.
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Member
| Here's a link to Davids Posting; I will purchase at 90% of market price for clean scrap for 18, 14, and 10kt. More than 90% if it's higher than 18kt. https://sigforum.com/eve/forums...910050124#1910050124 image representative of potential gold value not actual gold value. all scenes whether actual or created depict authenticated fact.
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The butcher with the sharpest knife has the warmest heart.
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| Posts: 13397 | Location: Bottom of Lake Washington | Registered: March 06, 2007 |
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| Dealers buy at wholesale and sell at retail.
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| Posts: 11744 | Location: Western Oklahoma | Registered: June 18, 2008 |
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Ammoholic
| quote: Originally posted by roberth: Dealers buy at wholesale and sell at retail.
Yeah, unfortunately they have to feed their kids too. |
| Posts: 6914 | Location: Lost, but making time. | Registered: February 23, 2011 |
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quarter MOA visionary
| I've always questioned buying physical metals. Unless you are speculating on the value of a "collectable" ~ something not solely based on the Gold/Silver/Metal spot price then why not just buy the same on an Index Fund? Seems to me that there is too much overhead on buying bullion and coins at least in the short term. |
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| Thanks again, you all, for the help! Dave - I've sent an e-mail your way.
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| Posts: 4981 | Location: Arkansas | Registered: September 04, 2008 |
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| The early American Eagles are worth a lot more than spot price. Some of you don't want to believe it but older bullion coins have collector value. Call Apmex and Provident Metals for a quote on what they will pay you. |
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Member
| quote: Originally posted by roberth: Dealers buy at wholesale and sell at retail.
Kind of like guns?
Truth: The New Hate Speech
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| Posts: 3445 | Location: W. Central NH | Registered: October 05, 2008 |
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