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 Replies: 13 / Views: 1,268 |
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Pillar of the Community
United States
2637 Posts |
This is not my first rodeo, so I am accustomed to formerly numismatic coins becoming bullion as the metal price rises. But this one shocked me.
Saw a youtube where they said the Double Eagles (AU, low BU) are retailing for about $30 above melt. Asked the LCS, and he said the prior owner (still a coin dealer) sold a cc Double Eagle at melt. Wish he had called me first....
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Bedrock of the Community
 United States
24859 Posts |
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sold a cc Double Eagle at melt  Inordinately fascinated by bits of metal with strange markings and figures
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Bedrock of the Community
United States
10470 Posts |
Yes - you can find dealers listing common grades/conditions for slightly above melt prices.
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Bedrock of the Community
United States
10470 Posts |
Quote:
and he said   |
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Bedrock of the Community
Australia
21786 Posts |
Never seen double eagles lower than EF.
Because of this, I have never seen double eagles at very close to melt.
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Bedrock of the Community
United States
10470 Posts |
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Moderator
United States
187446 Posts |
Quote:
...Double Eagles (AU, low BU) are retailing for about $30 above melt. Asked the LCS, and he said the prior owner (still a coin dealer) sold a cc Double Eagle at melt. Wish he had called me first...  |
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Pillar of the Community
United States
745 Posts |
I'm just guessing here but these high gold prices are hurting, I'd bet, not just the smaller houses but also the working guy who like to buy the occasional gold coin as a hedge. Or just for pleasure. I know gold is out of my league tho yes I can afford at least 1/2 oz a month I'm just not going to bother with it when IMOH gold is over priced and silver is under.
To begin with I'm not about the spend $1,800 on 1/2 an oz of gold and $3,400.00+ is just to much for an oz, my preferred size. My last gold Eagle was $3,186.00 and I didn't much like spending that much. When a couple of gold coins are worth more then all those piles of silver I have then something is wrong. Something aint right.
And that "something" is a 100+ silver/gold ratio.
So anyways with the "working stiffs" priced out of the market for gold those golden Eagles aren't exactly flying off the shelves. Or the Brits,or Pandas,or Krugers, or the Libertys, or the Buffs, or all the other ones. The Nations and banks may be the ones driving up the prices but they aren't buying coins ; They are buying pallets of Kilo's stacked 8' high and from there it trickles down to us and to the smaller houses we may shop from.
Its a cut throat business in the best of times.
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Pillar of the Community
United States
745 Posts |
Quote:APMEX - random year Saints - $3261 (of course prices change with the market) https://www.apmex.com/product/97088...-random-year Which is now $3,418.73 for a single. Ive been keeping up on these doubles and haven't seen them at $3261 for awhile. Ive been wanting a ST. Gaudens, they have one here at $3378, which isn't bad for a random AU .9675 oz of gold. Its a spectacular design tho total madness for a price. I have serious doubt's they will ever get much cheaper tho, if at all. APMEX is a very legitimate dealer even if they dont give their stuff away. Even Heros is at $3,321 for a cull Gaudens. They have a graded one for $3391. I have some video equipment I'm going to sell and then might buy my pre-'33 Gaudens, hang the price. God aint making any more of them. Edited by Silverskunk
05/06/2025 04:40 am
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Pillar of the Community
United States
3342 Posts |
I picked up an APMEX raw BU Saint not too long ago because the premium is so low. I asked for a 1923-D, a common date with a good strike, and they responded that it's random. Which meant a 1908 no motto, the commonest of the common. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
745 Posts |
Ive bought some lovely Libertards from APMEX. Wonderful coins, not cheap, but you get your moneys worth. They are usually the first stop I make when looking for Libertards. |
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Moderator
United States
187446 Posts |
Quote: Ive bought some lovely Libertards from APMEX. Wonderful coins, not cheap, but you get your moneys worth. They are usually the first stop I make when looking for Libertards. Good to know!  |
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Pillar of the Community
United States
745 Posts |
LOL My best friend called me the other day and said he was at a coin dealer and the guy offered $3,000 for the 1889-S gold Liberty that has been passed down thru his family for generations. Ive seen the coin and think its worth the cost to be graded. If not, and probably not due to the year and mint, its sure as hell to nice a coin to sell to some coin grifter for $200 under melt.
I told him to run dont walk. I also told him not to sell the coin since he doesn't need the money. Needing the money is one thing but in my mind keeping a coin in the family is important if you dont have an absolute need for the cash.
Luckily my kid has an interest in coins and he hopefully wont do anything stupid with them after I croak.
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Moderator
United States
187446 Posts |
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I told him to run dont walk. Well done.  Quote:
Needing the money is one thing but in my mind keeping a coin in the family is important if you dont have an absolute need for the cash... Luckily my kid has an interest in coins and he hopefully wont do anything stupid with them after I croak.  |
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Replies: 13 / Views: 1,268 |
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Posted 05/03/2025 5:32 pm
