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 Replies: 52 / Views: 10,922 |
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Pillar of the Community
United States
3789 Posts |
Yea, what that coin shop did was pretty nice of them, instead of sticking it to you.
Tho, I have seen, at least in buying proofs gold, most what I have seen is a higher premium for the bigger fractional sizes.
So I dunno. I guess it comes down to a budget decision but also, liquidity. Instead of big lump sums of gold that you would be selling your doing smaller sizes at a time.
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Valued Member
United States
200 Posts |
Selling here needs 250 posts. That is the reason a lot of people don't sell here. Then there is trust and comfort. People are familiar with ebay. Things on ebay sell faster. |
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Bedrock of the Community
United States
10982 Posts |
Quote:
Similar thoughts are going through my head now. Went to the LCS with intentions of getting 4 1/4 oz coins. The guy at the shop literally talked me out of the sale! He said that was one of the most expensive ways to end up with an oz of gold. He recommended the following options:
1. Just buy a 1 oz coin
2. Buy gram bars to get you close to an oz (3 10g or a 10 and a 20)
3. Buy 4 British sovereigns (.2354 oz each) since they have a much lower premium
So long story short I left empty handed. Definitely not considering option 1 since I wanted smaller denominations, but maybe the gram bars or the sovereigns might not be bad options...
Any comments are welcome. If you can get name brand bars in assay cards for a reasonable price, I'd go that route. Nothing against Sovereigns but I would not buy them. 3 name brand 10g bars, serialized to the assay card with weight/fineness hallmarked on the bars and printed on the cards in which they are sealed, is a great way to buy ~ 1 toz of gold. |
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Pillar of the Community
United States
3789 Posts |
BTW- speaking of 1/10 oz fracs....
I was racking my brain and i;ll have to check my collection's vault over the weekend but doing some research months back on some proof coins,, and what I was missing. I couldn't help notice the huge premium in many of the coins I had and they were only 1/10 oz proof coins,,, such as south African mint Krug's and Aussies. The Aussies were part of a special set at the time of gold, I think like nuggets,, have to check later.
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New Member
United States
37 Posts |
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@veritek - It's hard to advise someone when you know next to nothing about their intentions, their goals, their means, etc. but I will give you my feedback for what it's worth. My "intentions/goal" are simple. I'm interested in accumulating a reasonable amount of PM coins as an alternate form of "money storage". I also happen to love the look and feel of diff coins and bars! But, as much as I love the variety and coolness of all different coins I'm trying really hard to treat this less like a hobby. So justifying excessively higher premiums to myself is sometimes a challenge. Quote:
Sovereigns have been a target of counterfeiters for many years, so I'll only buy proof or graded ones, which do have a higher premium along the lines of a 1/4 maple or eagle . Liquidity and recognizability is pretty important to me. Confidence is also important so coins more likely to be counterfeited are red flags to me. So it looks like the sovereigns are out. Even before you mentioned to counterfeiting I was turned off by them because someone who's not familiar with gold coins could never tell me their bullion value by looking at them. I'd prefer to have something with its weight in oz or grams right on it. Quote:
Is there a reason you didn't just buy a 1oz coin? My first purchase in 1oz Krug, figured I should have different denominations just or versatility/diversification. |
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Pillar of the Community
United States
3789 Posts |
You know,,,,I think just a few things, might even be repeating myself here but- a- if buying gold,,, as prices drop, now would be the time to get stuff with the premium I would think. Also, buying proof would give you cushion instead of just depending on spot price b- I think, for more common fracs, the bigger the frac size the bigger the prem, and less common gold fracs, 1/10 oz is going to the standard. Why do I say this? Well in my experience in gold collecting of proofs, I ALWAYS find 1/10 oz gold pieces for mints such as south Africa, Royal Mint, etc. But bigger sizes, forget it, its hard to find it here for that current year. but you know, this also comes down to a matter of personal taste also. So I think you do what you think works best for you and what you like best. :D |
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New Member
United States
37 Posts |
Looking around on APMEX. The additional premiums for 1/4 AGE and Krug proofs aren't that bad so I can definitely consider them. However, they also have graded proofs which go up considerably. So my question is: if paying any additional premium for proofs, can you expect to get the same resale value on non-graded proofs or does it make more sense to pay the extra premium of getting graded proofs? Thanks |
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Replies: 52 / Views: 10,922 |
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Posted 02/22/2013 4:55 pm
