11 Mexican Gold Coins 50 Pesos-Price

To participate in the forum you must log in or register.

Author	Replies: 7 / Views: 2,553
Xcongamma New Member United States 5 Posts	Posted 05/12/2021 11:06 am Hello, New user here and I apologize if this is the wrong area for this post. I am trying to sell 11 Mexican Gold Coins(50 Pesos) 37.5Gr ea. Years 1921-1931 Trying to understand the lingo for selling gold. For example spot price, over spot? I have called a few business that buy gold and have gave varied offers for buying the gold, but I dont fully understand what it means and I dont want to get a bad deal. I'm trying to get the most out of the coins, but I do understand a business has to make profit. If anybody can offer any words of wisdom I would greatly appreciate it. thanks, Sean. Report this Post to the Staff

Earle42 Bedrock of the Community United States 10038 Posts	Posted 05/12/2021 12:33 pm Normally if you sell at the "WE BUY GOLD!" local places, they will take you for a ride. Glad you came here first! "Spot price" is the going rate of gold per ounce on the market. It fluctuates during the business day. A screenshot from the website: https://www.kitco.com/market/ So you will need to know the weight of thses coins as well (search engine - "what is the weight of a 50 peso Mexican gold coin?") You also can look on ebay SOLD items for a set like this, but I do not recall personally seeing an almost complete set like yours before, which might be more collectible (?). I am not a Mexican coin collector so don;t really know if sets are normally found. However, you could look up each one individually by date as well to get a good idea of what they sell for. Remember coins in slabs are graded by a company and tend to bring in a little more of a profit. However, that gets into a whole new category of if it would be worth it to get these graded. A coin has to have a very high grade typically to be worth a lot more than ones in typical condition. Its a gamble (and expensive one) that some people take without knowing anything about grading, and even experienced people are taking a gamble. So if you want to get these slabbed/graded to see if you can make more of a profit, then you would need to post pics of each online in this forum so our experienced graders can give you an idea if grading would be good in this case. How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halves https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 Report this Post to the Staff
Xcongamma New Member United States 5 Posts	Posted 05/12/2021 1:22 pm Thank you Earle42. Appreciate the info. This is actually a complete set, the missing coin was just taken out at the time I took this picture. Each coin weighs 37.5 Grams. So going by the kitco.com Gold spot price, 1 coin is worth Bid:$2,196, Ask:$2,197 currently. Each coin year does correspond to the year on the plaque/coin holder. I will take pictures of each coin up close, front and back and submit them here to have experienced graders see what they think. Should I make a new post in the coin grading forum for that? Also, do people buy gold from here? If someone was interested in them on this forum, what would be the best/safest way to process that transaction? thanks again. Report this Post to the Staff
oriole Pillar of the Community Canada 5246 Posts	Posted 05/12/2021 1:39 pm According to my (older) krause catalogue, this coin has 1.2057 ounces of pure gold, and none of them are rare. I know that my LCS could never sell them for more than the bullion value, which would be about $2200. That means that he would pay about $2000 each for them, and if there are no immediate buyers he would likely wholesale them to a refiner and get about $2100 each. His profit is about 5-6%, and if the price drops by 2% overnight, well there goes 1/3 of his profit. Margins are very slim on this type of coin. There may be larger markets where the demand is better, and people would be willing to pay a premium for high grade slabbed coins. I can't tell from the pictures if any are very high grade. It probably does not make sense to sell these on ebay unless there is something special about them. The fees and the risk mean that you may as well sell to the dealer with the best offer. But remember that you can't compare offers unless they are made at the same time, due to the offer being based on the price of gold at the time. Report this Post to the Staff
Earle42 Bedrock of the Community United States 10038 Posts	Posted 05/12/2021 4:23 pm Quote: I will take pictures of each coin up close, front and back and submit them here to have experienced graders see what they think. Should I make a new post in the coin grading forum for that? Also, do people buy gold from here? If someone was interested in them on this forum, what would be the best/safest way to process that transaction? Our forum Father, Bobby, has made a rule to wisely require 50 quality posts on this forum before buying or selling is allowed. It weeds out the fly by nights who would come here to take advantage of someone. The grading forum would be the place to post them. I am not sure how much you know about coins so let me stress not to try to clean them up or make them look more shiny in any way. This will ruing the value to collectors. Another thing I would likely do if this was my set would be to look at online coin auctions like Heritage to see if a set like this has been sold before. https://coins.ha.com/ Most people do not have enough disposable income to buy a set of gold coins such as this, but there might be someone out there who would like a full set without having to track each coin down individually - which might take some time. Hobby high rollers are on auctions sites such as Heritage. I admit if it were mine, I have a very trusted friend who is a dealer with a large youtube presence and runs: portsmouthcoinshop.com If this set were mine, I would be asking his advice. If you choose to contact him, you can tell him Earle42 sent you if you want. Please do NOT think I am ASKING you to. I am just saying feel free to use it as an ice breaker/inroad if you feel so inclined. He and I correspond regularly. How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halves https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 Edited by Earle42 05/12/2021 4:25 pm Report this Post to the Staff
jbuck Moderator United States 188990 Posts	Posted 05/12/2021 4:35 pm to the Community! Quote: Also, do people buy gold from here? If someone was interested in them on this forum, what would be the best/safest way to process that transaction? Be aware that we have very strict Buy/Sell/Trade Rules here. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
jfransch Pillar of the Community United States 1801 Posts	Posted 05/12/2021 7:44 pm Beautiful set. The 1921 is a collectable date and worth more than the gold value. Other than that one date, most Mexico 50 peso gold Centenarios sell for a slight premium over gold value. They really only obtain a numismatic premium in grades MS63 and higher. Before the pandemic closed the local coin store I frequented, these were selling for spot plus 5%. Obviously he was paying less than that. Very interesting holder because that is not a complete set of Centenarios, it does not contain the later dates 1943-1947. Report this Post to the Staff
Xcongamma New Member United States 5 Posts	Posted 05/13/2021 2:55 pm Thanks everyone for all the great info! I will be posting the coins very soon to determine if it would be beneficial or not to have them graded. Report this Post to the Staff
	Replies: 7 / Views: 2,553

To participate in the forum you must log in or register.

All Forums Category: World Coins and Currency Forums Forum: World Coins and Commemoratives

The First Dollar, your premier source for bullion and rare coins. See our bullion list on the site and the coin inventory on ebay.

Silver Gold Bull US is the United States leading bullion dealer. We deliver gold coins, gold bars, silver coins, silver bars and precious metals to your door. Order today!

View Last 100 New Topics

View Last 100 Active Topics

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use

Coin Community Forum

It took 0.25 seconds to rattle this change.