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 Replies: 47 / Views: 5,134 |
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New Member
Germany
5 Posts |
Hi,
where can I buy Saint Gaudens coins for the material price?
I aksed my local bank and they said, they can sell me these coins for the gold price, but they do not know, how the condition is....
Have you any experiences with your bank and the Saint Gaudens 20$?
Would be great, if I could get an great one only for the gold price =P.
Thanx.
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Moderator
 United States
23522 Posts |
Welcome to Coin Community, Skinner456. I would also love to know of a place where you could get St. Gaudens coins for melt price.
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Valued Member
United States
62 Posts |
Where are you located? I didn't know any banks dealt in this kind of stuff. You might be able to find really beaten up or even damaged common dates for a small percentage over melt. I was at my local dealer this week, and the cheapest ones they had out were about $80 over melt for decent looking common date AU range coins. It's hard to get much lower in grade than that because they really didn't circulate much if at all. If you can find one for near melt, it's not going to be a good looking coin by a long shot. As a collectible, you can get respectable looking pieces for a few bucks more. If you're just looking for bullion, then it's a lot easier to get gold buffaloes, which are fabulous looking, or the gold eagles, which feature an adaptation of St. Gaudens' design on the obverse.
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Bedrock of the Community
United States
14454 Posts |
I have never ever heard of a bank selling these coins, the only place I have ever seen these coins for sale (that is government owned) is at the mints website. I know my bank can not get them for melt and they usually get me anything I ask for but they just laughed and said there was not even a way for them to order them from the mint to get them in stock for me when I mentioned this story to the bank manager at my local bank
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New Member
 Germany
5 Posts |
Well, I am from Germany and asked my local bank dealer this week. He said he is able to sell me Saint Gaudens walking liberty and even the 20$ head coins for gold price or a little bit above (about 20$). And with some luck he can get the years I want. But they also sell Kruegerrand some dollars above spot. I know a friend who buyed the Saint Gaudens some time ago and the coins do not look so bad. After I have looked for these coins, I saw them on ebay and was a little bit surpised about the price there (even for the ones which were not in the very best condition). I cannot believe that they are sold under prices (although there´s no big market for the Saint Gaudens here in Germany: ebay.com: about 250 auctions, ebay.de: 1 auction). Maybe they do not know, what they are selling =P. Thats why I asked for experiences. Edited by Skinner456
03/02/2007 5:06 pm
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Valued Member
United States
397 Posts |
Guys, I think they may be referring to the Bullion American Gold eagles, since they look like the old ones. Just a thought. MM  |
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New Member
Germany
5 Posts |
@morganman
No, no :D
They mean the old Saint Gaudens of ~ 1900-1930 and the head coins before 1900.
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Bedrock of the Community
United States
14454 Posts |
all I can say is I would buy all I could afford for melt and wouldn't really care what condition they were in
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Pillar of the Community
United States
1626 Posts |
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Rest in Peace
United States
2684 Posts |
Hi Skinner and welcome to the forum. It's a friendly place to be and plenty of willingness to share expertise and information.
We have a gold expert (ageka) as a valued member of the forum and I hope he'll be able to check in on this topic. We're missing something here: a gold St. Gaudens or just about any other gold coin including a bullion coin is not going to sell at melt unless it's completely unrecognizable or unidentifiable as a dated coin and even then, the dealer needs to make at least a little profit. I know that gold coins in Europe are not particularly popular nor in demand (witness Monaie de Paris commemoratives), but there's something the dealer is not stating. I don't want to make undue accusations, but are these genuine coins he's offering, i.e., is there any possibility they are counterfeits? St. Gaudens have been counterfeited a fair amount in years past and fairly recently if memory serves me correctly. Again, something isn't making sense here.
Fred
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New Member
Germany
5 Posts |
Thanks for the answers.
@Morgan Fred:
The source is a big public bank here in Germany.
They sell these coins for about 20 or 30 $ above melt (they told me, that the selling of precious metal is just a service for the customers and not a opportunity to earn money, because of the charges the bank have (security transport etc.)).
And these are no counterfeits (otherwise millions of people would leave the bank). So it absolutly reliable.
My friend posted some pictures of these coins in this forum about 1 year ago (but I do not find his postings :(), but I will get some pictures and post them here. And believe me, I am very surprised, too, cause I do not understand, why they are selling these things, although there could get a much better price (maybe they would have to many business expenditures for grading or selling them in the USA). Of course, you need a little bit luck to get a very nice one, cause you are not allowed to choose them yourself.
Edited by Skinner456
03/02/2007 6:10 pm
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Bedrock of the Community
United States
14454 Posts |
like I said before I would buy all I could afford and wouldn't really be concerned with condition unless like Morgan Fred said they are unrecognizable coins which I doubt they have allot of unrecognizable 20 dollar st gaudens coins
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Pillar of the Community
United States
2254 Posts |
Does this bank have a name? I have some frequent flyer miles to use up....
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Rest in Peace
United States
2684 Posts |
With enough capital, we could fly over, buy up a whole mess of St. Gaudens for peanuts, return and sell them on ebay to US collectors, pay for the trip with no problem, spend a few days playing tourist in Deutschland (I'd be doing some family genealogy), and pocket a tidy profit.  |
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Pillar of the Community
United States
7123 Posts |
Im starting to have a bit of a problem with this thread ,, Either the thread starter is jerking our chains or its all about finding someone to send money for these coins.
who was your friend who posted the photo's on the forum ? and what is the name of the bank ?
Metalman
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Pillar of the Community
United States
2335 Posts |
I visited Germany back in the early 90's. Almost every bank I went by had gold prices posted out front. At the time I wasn't in the market for, nor could I afford, gold coins, so I never went inside to check it out. The young lady I was visiting told me you could buy coins of various types for spot price plus a small premium.
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Replies: 47 / Views: 5,134 |
Posted 03/02/2007 3:58 pm
