Coin dealer Visit... No Silver!

[ximmy]

Just higher end coins, no bullion or cull silver coinage. He said people have been in all week trying to buy, pretty much no sellers in.

Well, since I can't not shop I had to settle for this... ;D

28052806

[mamboni]

How much?

On Ebay, gold is slim pickings, very little and mostly junk. A 1 oz. GAE just sold for $1700+. I think that says a lot to corroborate your observations.

[solid]

Thanks for the report, and beautiful coin! Was there much of a premium?

I was wondering how local coin shops were doing in this drop in price. My recent purchase was before this dip, but old gold as well, 20 swiss franc coin, just beautiful. I like the older coins, have yet to take the plunge on old US coins though.

[ximmy]

How much?

On Ebay, gold is slim pickings, very little and mostly junk. A 1 oz. GAE just sold for $1700+. I think that says a lot to corroborate your observations.

He would not budge for less than 822. Considering it's condition XF (my non-expert opinion) I agreed and payed the man cash monies...

[ximmy]

Thanks for the report, and beautiful coin! Was there much of a premium?

I was wondering how local coin shops were doing in this drop in price. My recent purchase was before this dip, but old gold as well, 20 swiss franc coin, just beautiful. I like the older coins, have yet to take the plunge on old US coins though.

Melt value of this coin today is 750 so there is some premium. I Think I will be buying historic US coins rather than modern bullion from now on. The value always seems to be there.

[mamboni]

He would not budge for less than 822. Considering it's condition XF (my non-expert opinion) I agreed and payed the man cash monies...

Sweet. You paid $1699 per ounce of gold content, virtually the same as the Ebay bullion price. Interesting! The premiums on physical are high indeed. Physical gold and silver appear to be in very strong hands. The paper price is bogus.

[solid]

Melt value of this coin today is 750 so there is some premium. I Think I will be buying historic US coins rather than modern bullion from now on. The value always seems to be there.

You got a great deal. I'm jealous, and agree with older coins. One day I'll have to get an old US coin. I like gold sovs, and now these swiss coins. One is from 1910 and the other 1935, both in BU conditions. To my naked eye, they look perfect.

[Spectrism]

The drop in paper price, then, is to unravel the short positions the banksters hold. I don't expect it will stay down long since physical has not budged. The next few days should be real interesting.

[Sparky]

That's a nice looking hunk of gold. If you're going to pay the numi premium, make sure you get decent condition, which it looks like you did.

Still hard to believe they spent that stuff 100 years ago.

[madfranks]

I'd "settle" for a $10 gold eagle any day! The very first one of those I ever bought I paid around $340. Ah, those were the days!

[osoab]

That's purty.

[milehi]

I bought yesterday, but they didn't have much. One 10 oz Engelhard bar and a beat up Onza. I paid a buck over spot with no tax. 315 out the door cash and carry. No gold though. I'm going back tomorrow.

[steyr_m]

I picked up a 5 oz bar today. Still lots available -- for now.

[Silver Rocket Bitches!]

I got a 2012 eagle for $35. Not a great price but I'll take it.

[horseshoe3]

10% premium on a ~half oz of gold is pretty good. Considering it is pre33 gold, I'd say you did very well.

[ximmy]

Oops, I was flipping the coin up in the air and catching it while taking a walk last night. I heard it bounce and roll into the sewer. Oh well... easy come, easy go :(??

[osoab]

Oops, I was flipping the coin up in the air and catching it while taking a walk last night. I heard it bounce and roll into the sewer. Oh well... easy come, easy go :(??

That's why it should be on your boat.

So sorry for your loss too.

[D sciple]

I think I would be lifting that man hole cover and retrieving it?

[solid]

Oops, I was flipping the coin up in the air and catching it while taking a walk last night. I heard it bounce and roll into the sewer. Oh well... easy come, easy go :(??

Yup, other coins will be in the future. Grieve, for that one, and life goes on.

I have a question. I just don't understand the premiums, and spread, on pre33 gold.

I was looking at ap.mex. A pre33 half eagle has an $80 buy/sell spread. For less than 1/4 ounce gold. A gold sovereign however, only has a $20 spread. Both coins are old gold, close to the same in purity, etc.

I'd really love to get a pre33 coin, but for the life of me, I just don't understand the price of them.

[horseshoe3]

A lot of it has to do with the fact that numismatics were exemt from confiscation under FDR's executive order. The theory is that numismatics will be exempt from the next confiscation. I really doubt it though.

Another large part of it is the nostagic value of holding something that used to be money. Thinking about all the references you've heard to a $20 gold piece and considering the value of something long ago. People didn't have as much disposable crap back then, but they had things that mattered. Consider an episode of the Andy Griffith show when a character got mad that Andy was wasting his time with a trial that ended in just a $10 dollar fine. The attitude was the same as you would get today in the same circumstances. But, those 10 silver dollars are worth over $200 today just in melt value. Hardly a waste of time.

[gunDriller]

i'm tempted to buy the 1/4 ounce US gold coins. so far the spread has held me off. but, someday, when the price is right ...

as far as dealers being 'out of stock' - i wonder.

if you were a dealer and you had stock and you knew the price was being manipulated and you paid $30+ an ounce for some of that stock - would you sell with spot @ $27 or $28 - or would you hold it & wait ?

[SLV^GLD]

I would simply increase my % over spot margin to compensate; that is my profit per Oz would be static regardless of spot fluctuation (within some percentage allowing for typical fluctuation).

I think it is pretty much retarded to act is if you are out of inventory when you are not; this dissuades people who may well pay the premium from being able to do so.

[mamboni]

I got a 2012 eagle for $35. Not a great price but I'll take it.

That a good price today. That will be an outstansding bargain in a few months. Believe it.

[palani]

A lot of it has to do with the fact that numismatics were exemt from confiscation under FDR's executive order.

First one must learn to separate the fact from the fiction. There actually was no confiscation order for gold held by non-U.S. citizens in the several States. These notices of confiscation were posted in banks and post offices.

[Sparky]

Oops, I was flipping the coin up in the air and catching it while taking a walk last night. I heard it bounce and roll into the sewer. Oh well... easy come, easy go :(??

Hmph. That's exactly what happened to my 10-ounce bars of silver. Go figure.

[solid]

Hmph. That's exactly what happened to my 10-ounce bars of silver. Go figure.

Hmph Hmph. Take a look at my avatar. He's the little bastard that ate my 10 ounce bar in the surfing accident.