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 Replies: 13 / Views: 2,343 |
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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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Pillar of the Community
 Canada
9863 Posts |
The release of the gold coins by the mint ensures that for the vast majority of them the price will be forever tied to the price of bullion with little premium.Without seeing the coin it's impossible to estimate any premium above melt for the one your looking at.If you like the coin make your best deal and sell the silver bullion,you're basically exchanging one type of bullion for another.
"Dipping" is not considered cleaning...
-from PCGS website
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Moderator
 Canada
10456 Posts |
Which hat are you wearing? One as a bullion investor or one as a collector?
If the 1912 gold coin is mint state, MS-62 or better, and you really, really want one - because it is a beautiful coin and we all love coins beautiful and mint state, then yes - buy it. Otherwise, be patient, no doubt some of these coins will show up at various coin shows, and you'll get a nice one at a better price.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
United States
7840 Posts |
I would like to see what you are referring to.  Edited by oih82w8
12/21/2012 11:13 am
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Pillar of the Community
1844 Posts |
hummmmmm I would buy it and keep the silver also... It might be a great way to trade for more silver ?/
so Have you seen the coin ?
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Bedrock of the Community
United States
36724 Posts |
I'd keep the silver since the spot price is down right now. BUT, I'd also want the $5 Canadian gold so maybe you have something else that you can work a swap with the dealer. He can make a few extra bucks on the coins you swap to him and you get to keep your silver and get a nice gold coin.
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Pillar of the Community
Canada
3692 Posts |
Sam, you're pretty much already in the mindset to do the trade. What is "fantastic condition"?
By the way, it's a "flea market", not a "flee market".
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Pillar of the Community
 Canada
1723 Posts |
@ Libertad - LOL Tomato...Tomahto......I would grade it at MS-60. @ Indian goldeagle - He wants just cash not silver and I have nothing else of value that he would want. @ SPP-Ottawa - I'm mostly stacker before collector but I'm the kind that also likes to collect bullion for various reasons. @ oih82w8 - This is what the coin looks like... http://www.ebay.com/itm/CANADA-1912...em5899f2b920MODS This link is for picture reference only. Edited by samsnate
12/21/2012 7:11 pm
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Pillar of the Community
Canada
1581 Posts |
MS-60 would be ~BV.
It remains to be seen if the mint ones come in around there too. So $500 would probably represent about the same deal as the mint. And the BoC hoard will probably drive down most prices toward BV.
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Valued Member
Canada
334 Posts |
Has anyone seen the major dealers selling the hoard pieces yet ? If so , are they in thord party holders ?
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Pillar of the Community
Canada
1723 Posts |
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Pillar of the Community
Canada
1354 Posts |
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Pillar of the Community
United States
2408 Posts |
Coin Chick - I love your avatar!
BV - may also mean Book Value.
Edited by canadian_coins
12/22/2012 10:26 pm
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Pillar of the Community
Canada
1354 Posts |
Canadian coins
Thanks. And you are correct... It could mean that instead of what I thought.
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Replies: 13 / Views: 2,343 |
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Posted 12/21/2012 11:05 am
