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Gold Bullion Coin Purchased In The Past. Came Across In Lock Box

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New Member

United States
18 Posts
 Posted 11/19/2022  7:33 pm Show Profile   Bookmark this topic Add Yojoe1964 to your friends list Get a Link to this Message Number of Subscribers
I recently paid a visit to my lock box and came across this coin I had brought on a whim. It was purchased on 25 Aug 2008, spot price for gold was $822.57. I saw it has some scratches on it but it is from the short set (roman numeral dates) and I hoped to get it at spot. I got it for $449 and thought it was a good buy at that price. Low mintage with issues so if I got it around spot figured it was a good buy. I think I did ok. :-)


Gold-Bullion-Coin-Purchased-In-The-Past.-Came-Across-In-Lock-Box


Gold-Bullion-Coin-Purchased-In-The-Past.-Came-Across-In-Lock-Box

Gold-Bullion-Coin-Purchased-In-The-Past.-Came-Across-In-Lock-Box
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sel_69l's Avatar
Australia
21786 Posts
 Posted 11/20/2022  01:30 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Premium over spot at the time of purchase was 9.17%.

To find out if you did OK since 25 Aug 2008,
the purchase price of $449 has to be compound multiplied by the official inflation rate for each year, since 2008.
You will need to go to the US Bureau of Statistics (or whatever else it is known as), to find the annual inflation rate for each year.

Compare the result of your calculations with the current sale price with premium.

Remember, if you need to sell it,
any profit you make on it after inflation has a tax payable on that realized net profit, after inflation has been taken into account.
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Zurie's Avatar
United States
5661 Posts
 Posted 11/20/2022  03:13 am  Show Profile   Check Zurie's eBay Listings Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
You did great! Annual inflation averaged only around 2% for the past several years, until this past year. Always good to find a gold coin you forgot about!
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nickelsearcher's Avatar
United States
15392 Posts
 Posted 11/20/2022  07:11 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
to the CCF
Take a look at my other hobby ... http://www.jk-dk.art
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United States
2215 Posts
 Posted 11/20/2022  07:26 am  Show Profile   Bookmark this reply Add livingwater to your friends list Get a Link to this Reply
Welcome! You did good!
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wallyb's Avatar
Canada
557 Posts
 Posted 11/20/2022  08:01 am  Show Profile   Bookmark this reply Add wallyb to your friends list Get a Link to this Reply
Found money! Of course you did well. Selling it would free up some revenue to buy a pre 1933 gold coin with collectible value.
New Member
United States
18 Posts
 Posted 11/20/2022  4:31 pm  Show Profile   Bookmark this reply Add Yojoe1964 to your friends list Get a Link to this Reply
Quote: Found money! Of course you did well. Selling it would free up some revenue to buy a pre 1933 gold coin with collectible value.

I am interested in the Pre-1933 gold coins. Best to buy them slabbled or raw? If slabbed what is the lowest grade you would recommend? I have seen several MS62 to MS65 for sale.

Thanks!
Valued Member
Canada
128 Posts
 Posted 11/20/2022  6:47 pm  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
I try to get as close to bullion price as possible . It was easier a few years ago when you could get Saints Double Eagles in MS 63 for only a slight premium. Right now after checking at APMEX premiums are fairly high for anything MS 62 or over.
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jbuck's Avatar
United States
187702 Posts
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wallyb's Avatar
Canada
557 Posts
 Posted 11/25/2022  9:00 pm  Show Profile   Bookmark this reply Add wallyb to your friends list Get a Link to this Reply
Yojoe1964, personally I don't even look at gold coins that aren't slabbed and if I'm looking for US pre '33 I'll only buy NGC or PCGS graded. There are just too many gold counterfeits floating around to buy raw unless you have some serious expertise and can hold the coin in hand before laying down cash. As far as grade is concerned that definitely depends on the scarcity of the coin you are looking for. For a more common piece, like say a 1911 Indian Head eagle, I would look for something MS 63 or better. For something less common unless your pockets are very deep I would be happy with EF or maybe AU range. I never buy anything below an EF40 in gold.
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Windmiller's Avatar
United States
52 Posts
 Posted 11/26/2022  3:24 pm  Show Profile   Bookmark this reply Add Windmiller to your friends list Get a Link to this Reply
Few forgotten things as pleasing to rediscover as a beautiful gold coin.
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