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.

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.

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 - 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?

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.

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).

Check out this PCGS PRICE GUIDE for certified GAEs.
MS = Mint State
PR = Proof

http://www.pcgs.com/prices/pri...idedetail.aspx?c=793

Here AMPEX's sell price for today..$736

http://www.apmex.com/product/1...ican-eagle-w-box-coa
They don't show their buy price but you could call them.

It is bullion in the shape of a coin.

I'd reach out to David Troung. He makes it easy and safe.

Many thanks guys - your knowledge and advice is a huge help! (As always )

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.

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.

Dealers buy at wholesale and sell at retail.

quote:

Originally posted by roberth:
Dealers buy at wholesale and sell at retail.

Yeah, unfortunately they have to feed their kids too.

If you can get spot for it locally, that's a pretty fair price. Saves you the cost of shopping ans the risks that go with that. and no delay in getting your funds. Unless as noted you think it may grade PR70 or PR69. Need the cash now ? If not I'd just hold it.

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.

I'd love to help, if they are proof set, I'd be a buyer of 95% of gold. My email is David@mimisjewelryinc.com

Thanks again, you all, for the help!

Dave - I've sent an e-mail your way.

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.

quote:

Originally posted by roberth:
Dealers buy at wholesale and sell at retail.

Kind of like guns?