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 Replies: 59 / Views: 9,709 |
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New Member
United States
26 Posts |
Just wondering if a $20 gold coin's (stamped 1885) value is based upon the price of gold or the age of the coin.
In other words, if the price of gold fluctuates, does the coin's value change relative to the price of gold or is the coin's value based upon it's age and condition instead?
thanks
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Pillar of the Community
 United States
5177 Posts |
As I understand it, the higher the grade the higher the numismatic premium on top of the melt value. For example, the melt value of a 1885-S is about $1670. In XF condition it trades around $2,000. So, the numismatic premium is about $330. However, in MS64 condition the coin is worth about $8K. More than 4 times melt. And...  Edited by NumisEd
04/05/2021 2:19 pm
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New Member
 United States
26 Posts |
So it the coin is in horrible condition it should still be worth the melt value or would the condition reduce the value?
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Pillar of the Community
United States
5177 Posts |
Yes, melt value is the lowest it can get.
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New Member
United States
26 Posts |
How is melt value determined?
I think I read that this coin is 90% gold and 10% copper.
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Moderator
 United States
187950 Posts |
to the Community! |
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Pillar of the Community
United States
5825 Posts |
The gold melt value fluctuate daily, you can check online, there are many sites that provide gold prices by the minutes.
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New Member
United States
26 Posts |
A buyer won't likely pay the price for gold, will they? They need to offer less in order to make a profit on their end, is that correct?
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Pillar of the Community
United States
9792 Posts |
Quote:
They need to offer less in order to make a profit on their end, is that correct? That is correct, however the margins are super thin, and one needs to work quickly in the bullion business to or they could go broke in a hurry. At the shop I worked at we had around a 3-6% margin around 25 years ago. Of course if we could get a better deal we tried. But we never made much off buying junk gold, unless the market had a wild unexpected upswing in a day or so. We also had to keep all jewelry and most items for 30 days on hand for the police department theft division by city/state law. Today I use an iPhone app to tell me the amount of scrap gold, silver and coins. It checks the current spot price of the metal, then allows you to select the coin type and quantity or scrap purity and weight in grams. Works great. I'd check it now, but my iPhone is on it's way to Apple repair to have a new battery installed, it's in the App store. They have a website as well. Seems it's blocked here though, it is part of coin universe and PCGS companies, as well as listed on PCGS' main site, but if I type the name the post is blocked on grounds it's a prohibited site. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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New Member
United States
26 Posts |
Does anyone have an idea what the letters on the cardboard holders mean (except for the date and the face value) for these 3 coins? There is a letter such as "S" under the date on a couple of them and "RSN", "SPN", and "MX" on the back of them. https://ibb.co/GVq9MWPhttps://ibb.co/qRjy3FD |
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Bedrock of the Community
United States
10982 Posts |
Well the "S" is for the San Francisco mint mark. The others could mean anything and I don't know of any numismatic meaning to those letters.
Those coins are not in horrible condition and should easily bring full melt value and then some.
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New Member
United States
26 Posts |
I saw that people were selling similar coins on ebay. Some had a grade and some didn't. I will have to look into what the selling fee is that ebay charges. |
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Pillar of the Community
United States
5825 Posts |
May fair better selling to large online retailers, once you subtract ebay and Paypal fees, check out how much they are offering to pay for it. Move them out of those old 2 X 2 holder and put them into safe flaps, be careful not to scratch them while removing. |
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New Member
United States
26 Posts |
When selling to the large online retailers, do I send the coin(s) to them and they give me a price? If that's the case, do coins ever 'accidentally' not get returned to the seller if they don't accept the buying price?
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Pillar of the Community
United States
5825 Posts |
Most large online retailers should have chat messaging app that you can make inquires, and what they would pay for those gold coins you posted, or you can call to talk to a representative.
If a deal is reach, the rep will send you a confirmation email with number and instructions to include with the package you are sending to them, usually register or priority with tracking, be sure to add insurance to it, you will received email of package delivery and inspection confirmation from retailer.
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New Member
United States
26 Posts |
Don't the large online retailers need to have the coin in hand for them to fully inspect it? I just assumed they wouldn't buy from photos of the coin.
So I don't need to pay anyone to grade the quality of the coin?
Edited by testerc
04/05/2021 10:19 pm
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Replies: 59 / Views: 9,709 |
Posted 04/05/2021 2:25 pm
