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 Replies: 7 / Views: 1,674 |
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New Member
United States
1 Posts |
I recently bought a Philip Diehl 2011 1/4oz American Eagle for $950.00 from U.S. Money Reserve and I really don't feel that this was a fare price. I'm new to making investments and saw their add on T.V. I wanted the deal on T.V. but he talked me into buying this coin and told me that there were only 2300 made. As I continue to educate myself in the Numismatic field I can see that this deal doesn't look right. I need some help from all Y'all. Thanks A Bunch
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Pillar of the Community
 United States
4588 Posts |
Sorry, but you were ripped off ...
1/4th oz at melt today is worth about $310.
Stop buying off TV - they have to pay for the fancy studio and the well groomed hosts SOMEHOW and it's not by selling anything cheap.
Plus the boiler room scum you talked to has to be paid his commission out of the sale price.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Bedrock of the Community
United States
12437 Posts |
 Your suspicions are correct, you paid well over double market value for a 1/4oz Gold Eagle. There were many more than 2300 minted, that number is almost certainly linked to the autograph. IMO, the autograph of a former Mint Director only adds a few dollars to the value. |
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Valued Member
United States
105 Posts |
Everyone has pretty much said what I could say on this. If you are able to return it I would.
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Pillar of the Community
United States
1200 Posts |
Sorry to hear they got you. That's a shame. Moral of the story = it's almost always bad to buy PM's from TV hustlers and the more they push you, the worse the deal most likely is.
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Rest in Peace
United States
4078 Posts |
Quote:
If you are able to return it I would.  |
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Pillar of the Community
United States
2543 Posts |
The upside (for what ever it is worth), it is still gold, I am assuming it is PCGS PF69 DCAM, It is part of an exclusive Philip Diehl signed series signed and limited to only 2300. People did pay extra for John Mercanti signed ASE slabs. No real good news, but if you can't return it, hold on to it, you never know. Lessons : Never buy on impulse, always check here first, never ever buy anything on TV, Gold-Silver-Platinum-Palladium and coins in general are NOT investments. Unless you are buying a one of a kind Brasher Doubloon for 4.5 million and plan on selling it in three years for 5.5 million. |
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New Member
United States
1 Posts |
denco7 is most likely right. All of these replies are comparing your coin to bullion. I assume it's not bullion at that price and based upon your description it's a certified and graded coin that could be a very limited edition - perhaps as low as 2300 minted at that PF69 grade, or even fewer if it's a PF70.
Coins like that are collectible and are not priced based on the spot price of gold. They are sold at premiums though and meant to be held for years not turned around in a few days. If you have remorse you should return it for sure, but the coin certainly has extended value beyond the spot price based upon its rarity so it would be wrong to compare it to bullion coins. That also means that if the spot price of gold falls, your coin will likely not fall in value as fast. That's why people buy certified and graded coins.
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Replies: 7 / Views: 1,674 |
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Posted 01/21/2014 11:37 am
