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 Replies: 11 / Views: 2,960 |
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Pillar of the Community
Canada
1723 Posts |
So some of you have followed my thread regarding gold recently about fractional gold. Recently the RCM sold off a bunch of Canadian $5 and $10 gold coins from 1912-1914... the $5 ones were being sold for $500. Some of you managed to get 1 and many didnt. About 20000 were sold. My guy at the flee market had a long conversation about it and about other coins. I told him that I went to try and buy one but were sold out... so the money I had went into silver. The other day I was at the flee market and the coin guy called me over and said I have something for you. He pulls out a 1912 $5 Canada gold coin.... and says that it is yours for $500.... Same as the mint was selling for. He said some older lady had come in with it and said that she saw the advertisments on TV for the coin and reminded her that she had one and was surprised that it was worth as much as it was so she thought that she would just sell it. Was in fantastic condition. Question here is If I should sell some silver to get that gold. It is such a beautiful coin, but where silver sits right now, doesn't seem to smart and I dont have money to buy the coin outright. Your thoughts and feelings about this coin? Thanks in advance. CHEERS! |
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Valued Member
United States
292 Posts |
Now is the time to stack, not sell silver if you don't have to.
What am I missing? That 1912 $5 Cananda gold at .2419 agw = $398 at today's spot. (Your flea market guy probably paid even less.) At $500 that is a $102 premium over spot.
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Pillar of the Community
 Canada
1723 Posts |
HI Herold....I am very aware of the 20% premium on these coins. This isn't just gold value but also numi value. And not to forget that these coins sold out almost instantly from the mint with only 20,000 being sold and the rest destroyed.
The mint sold every single one for $500 (Again high premium) So for someone to offer one at that price is being generous in my books.
This coin would be a cornerstone to my stack, investment, and heritage. There is no doubt what I WANT to do. I Don't know IF I'm going to do it, but making conversation here on the boards and get others opinions.
Edited by samsnate
12/20/2012 9:11 pm
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Pillar of the Community
United States
3843 Posts |
Do you know how to authenticate them? There are many high quality fakes out there of many U.S. gold pieces floating around out there especially on ebay and at antique shops & fleamarkets. I'm not sure about Canadian gold but I stick to slabbed coins from respected grading companies when it comes to gold. |
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Pillar of the Community
Canada
1502 Posts |
expect very biased opinions posting on, essentially, a stacker's forum
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Valued Member
United States
292 Posts |
It's your call of course, and most certainly do enjoy it. I just don't "do" numi value myself. That's 20,000 more of that coin out there in collections and/or available. How many other old ladies are going to remember and dump theirs? How many more does Canada have available to unload? (That was a nifty profit for them.)
Unfortunately also, numi value may or may not be there when you need to sell. But your enjoyment threshold while you have it is worth whatever premium you care to spend.
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Pillar of the Community
Canada
5324 Posts |
unless this 1912 coin grades ms 66 or better it will trade at best bullion value plus 100.00, there is at least 140 premium sets that should grade at least ms 65 or better, they are the only coins in this series that will appreciate in value. there is 30000 extra units flooding the market, the old trends are useless now. by the way the RCM is selling the set at 12000.00 |
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Pillar of the Community
Canada
1723 Posts |
@ POBOXW I figured as much myself...Being mostly a stacker myself, Comments are welcome. I did posted it in the Canadian section too for the numi side of things!  |
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Bedrock of the Community
Australia
21788 Posts |
The Canadian $5 and $10 gold coins have all been faked, just as the the U.S. series of classic gold coins have been, in very good quality gold.
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Pillar of the Community
Canada
4944 Posts |
Personally, I love the 1912-1914 Canadian Gold Coins, and since that is what you originally wanted to buy, I would sell the silver. You could ask the guy if he would swap the coin, for the silver you had bought.
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Pillar of the Community
Canada
1723 Posts |
Yeh I did offer him a trade...hes looking to sell. He is 99% numi stuff and 1% bullion. Not to interested in the silver so much.
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Valued Member
United States
151 Posts |
Since you asked...I would sell the silver, buy the gold coin, then resume stacking silver when you can, assuming the flea market coin guy has earned your trust prior to making that offer to you. I don't care what anyone says about silver and it's potential to increase in value moreso than gold (I think stacking silver is a VERY good idea by the way), but if I had to choose between the two, I'd take a little bit of gold over a decent amount of silver every time.
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Replies: 11 / Views: 2,960 |
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Posted 12/20/2012 9:11 pm
