1991 4-coin set Gold American Eagle Proofs- fair market value?

[mamboni]

Does anyone know what the fair market value is for the presentation box 1991 4-coin proof set of Gold American Eagles? It is in pristine condition. A friend desperately needs cash and asked me to buy it - I would like to oblige! I'm guessing somewhere around $2800.

Thanks.

[SLV^GLD]

Seeing as I don't value proof gold over non proof gold of the same weight and purity I would say that is a generous offer.
Based strictly on spot you're looking at roughly $2500. Let the guy know you are paying him a bit over 110% of spot which is typical dealer spread for gold.

[madfranks]

I haven't yet picked up a copy of the 2011 redbook, but I did look it up in the 2010 edition. The 2010 redbook value for a 1991 four piece set of American Eagle Proofs is $2000. Ha!

Of course, spot gold is worth more than that at this point, so this book is useless for your purposes. I agree with SLV^GLD in that proof gold has no more numismatic value to me than regular bullion. They make so many modern proofs that they aren't really that rare. Offer him spot plus a premium as much as you think is appropriate.

[mamboni]

Thanks guys. I too am not a fan of proofs vis-a-vis generic bullion. But, there is a collectors market and I notice on Ebay that folk will pay a premium for the proof coins. All of my bullion coins are generic - I don't like the speculative aspect of investing in proofs or quasi-numismatic bullion coins. But, if I buy this set I'll be helping a friend and I will have a nice gift for one of my kids in years ahead. I will offer 10% over spot for the set - that seems like a fair price.

Thank you.

[DMac]

According to the NGC price guide, those coins individually come to a total of ~2800 to over 3000, depending on condition. If they were graded well the set could fetch well over 3k.

If you can low ball him down to 2700 then it becomes a good deal, IMO. I think it's worth it for 2800.

[willie pete]

just doing a quick check of a couple dealers; ranges look like

$2950-$3250 +/-

[Sparky]

No recent sales for 1991 on E-bay, but mintages were similar in 1989 and 1990. Here are recent sales:

1989: $3056, $3000, $3090

1990: $3155, $3105, $3080, $3150, $3300, $3105

These were mostly from January 12-23, with the spot gold price averaging around $1350. It looks like the average set brought in about $3100 for 1.85 ounces, which is $1675 per ounce, or 20-25% over spot.

With spot now at $1310, that would translate to a retail value roughly in the range of $2900 to $3000.

[mamboni]

No recent sales for 1991 on E-bay, but mintages were similar in 1989 and 1990. Here are recent sales:

1989: $3056, $3000, $3090

1990: $3155, $3105, $3080, $3150, $3300, $3105

These were mostly from January 12-23, with the spot gold price averaging around $1350. It looks like the average set brought in about $3100 for 1.85 ounces, which is $1675 per ounce, or 20-25% over spot.

With spot now at $1310, that would translate to a retail value roughly in the range of $2900 to $3000.


I'll offer $2800. She's a good friend and I don't want to take advantage of her situation. This seems like a fair price as I get a slight discount and she gets more than what a dealer would pay and cash in hand to boot. ;)

[Sparky]

No recent sales for 1991 on E-bay, but mintages were similar in 1989 and 1990. Here are recent sales:

1989: $3056, $3000, $3090

1990: $3155, $3105, $3080, $3150, $3300, $3105

These were mostly from January 12-23, with the spot gold price averaging around $1350. It looks like the average set brought in about $3100 for 1.85 ounces, which is $1675 per ounce, or 20-25% over spot.

With spot now at $1310, that would translate to a retail value roughly in the range of $2900 to $3000.


I'll offer $2800. She's a good friend and I don't want to take advantage of her situation. This seems like a fair price as I get a slight discount and she gets more than what a dealer would pay and cash in hand to boot. ;)


I think that's a very fair price to offer a friend; 15% above spot. Do you know what she paid? Just curious...

[mamboni]

No recent sales for 1991 on E-bay, but mintages were similar in 1989 and 1990. Here are recent sales:

1989: $3056, $3000, $3090

1990: $3155, $3105, $3080, $3150, $3300, $3105

These were mostly from January 12-23, with the spot gold price averaging around $1350. It looks like the average set brought in about $3100 for 1.85 ounces, which is $1675 per ounce, or 20-25% over spot.

With spot now at $1310, that would translate to a retail value roughly in the range of $2900 to $3000.


I'll offer $2800. She's a good friend and I don't want to take advantage of her situation. This seems like a fair price as I get a slight discount and she gets more than what a dealer would pay and cash in hand to boot. ;)


I think that's a very fair price to offer a friend; 15% above spot. Do you know what she paid? Just curious...


No. It was left to her by her now deceased father-in-law. She tells me that he had 12 sets and only 8 are accounted for. I told her to start checking under the floor boards and behind the walls. ;D ;D ;D

[kregener]

Current gold price

The weight of the coins

+ 10%

[ximmy]

Definitely win-win for you and her... :)