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Posted 12/08/2013 4:35 pm
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They aren't coins in that you can't spend them.
They aren't coins in that you can't spend them.
If its anything like any other country that makes them thats actually not true. It would certainly be a terrible decision, but they have a face value and can be spent for that.
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But if you sell them to a bullion dealer they are not going to pay any more because it's an MS 80 than for an XF40.
But if you sell them to a bullion dealer they are not going to pay any more because it's an MS 80 than for an XF40.
A bullion dealer wouldnt pay any more for a 1860 O Seated Liberty Coin either, cash for gold places only care about the metal content since thats what they deal in. A coin shop on the other hand would/should give you a better price.
These are selling for over 4 times the price of spot on ebay. If some shop if trying to low ball cut them out of the picture and sell it yourself. They may be selling for a little less than issue price but they arent selling anywhere close to spot.
The Royal Mint can call them whatever they want but their price and their resell prices dont act like bullion. The new 2013 uncirculated version does with its unlimited mintage but the older ones and especially the proofs have very limited mintages for what they are.
Regardless of what the uncirculated do, proof coins arent bullion. Bullions price is based off spot, these prices have minimal movement with spot. The Royal Mint probably does overcharge for these since you can get them cheaper on the secondary market, but it doesn't fall enough to even get within spitting distance of spot price.
Some people consider proof ASEs bullion as well. Thats fine if they want too, but the market assigns a far greater numismatic value than metal value.
