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 Replies: 23 / Views: 1,526 |
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Valued Member
United States
361 Posts |
Friends of mine called me out today to help them go through "Dads" coins. As I laid this stuff out on the table, I was floored. I have personally never touched that much gold before. They still have all the receipts from the US Mint. I took a magnet, none of them stuck (good). They area all different years. The big question is this: Do we send them in to get graded? Is the value of a gold bullion coin like this affected by grading much? They want to sell the collection, for the maximum amount. They are in no real hurry, so grading is an option only if it will add value to the sale. My observations: The 2 GW proofs are between PR68/69 (not flawless) The OGP gold is 69/70 The non OGP gold in holders are 68-70 The gold in 2x2s are 68ish (couple tick marks here and there) What are your thoughts on getting these graded? And if they sell to a dealer, how much below spot would they be offered? Thanks for your help. Dan    |
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Valued Member
United States
465 Posts |
If they were mine I wouldn't get them graded unless the date is a scarcer one. I would put a small premium over spot and try to sell on this sites "for sale" section or one of the other websites that cater to coin collectors that's not ebay. At least to begin with if they are not in a hurry. It's always easy to sell to a local dealer or ebay but you are not likely to get top dollar. |
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Pillar of the Community
United States
2214 Posts |
You could check coin stores in your area for offers but your friends should not sell right away, don't rush. Some coin stores are honest, fair, may offer over or close to spot, other coin stores will offer way below spot so be careful. Sets like those are popular and expensive. Check ebay sold listings and also the major online dealers for what they would offer like APMEX, SD Bullion, JM Bullion, etc. Local coin stores and online dealers need to make a profit to stay in business, so there will be a wholesale/retail price. If there is a local coin club in your area maybe sell them privately to other collectors but be careful doing so, don't try to sell them on Facebook etc due to security issues. If they were my coins I would not get them graded, I would keep them for the future, not sell them unless I needed money or was going to use the money for something important like buying a house, paying medical bills etc. Those coins will be worth more in a few years or maybe even a few months, gold has risen about 13% since Jan 1, it's currently on a big run up. That much gold should be stored in a safe at home or bank deposit box. Please tell your friends not to broadcast to people about this gold, better not to tell people, there's been reports of people being burglarized, robbed because they told a friend, family member who told someone else...... Here is one online bullion dealer that shows their buy back prices but I didn't see any sets..... https://www.jmbullion.com/my-accoun...ck-products/Edited by livingwater
04/10/2024 11:30 pm
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Bedrock of the Community
 United States
12813 Posts |
Wow... just quickly counting that looks like 24.4 oz. of gold. Current spot value is ~$2,341/oz. That's quite a haul before any numismatic consideration!
Regarding grading, I guess it depends on if the owner wants to spend much time / effort / money doing all that. I probably wouldn't have the bullion graded myself (after all...they're bullion and intended for stacking), maybe the proof coins. Just my 2 cents.
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Moderator
 United States
56855 Posts |
Have your friends look into getting a bank safety deposit box ASAP. John1  |
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Bedrock of the Community
United States
94367 Posts |
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Moderator
United States
94812 Posts |
That is a lot of gold all in one location and it's not even in a vault.
With the quickly rising spot price of gold right now, I would have your friend hold onto them as long as possible (until it looks like it peaks before it starts to fall back).
Grading on these in not really necessary - they all carry a premium because they are not just bulk gold bars that sell at spot +/- some amount. Gold Eagles should sell at spot plus a good deal more
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Pillar of the Community
United States
5604 Posts |
Can Not help Thinking, Is This what My Family Will Do.......  I understand Selling Collections, I just feel that Collections are Much More than $$$$$$$, I mean to The Collector, These are a Very Personal Eye Catching Collection in which Another Has sought out, Exactly what They wanted to Have. That's a Large Amount of Coins, Keep them ALL Original, Never Touch a Coin Raw Without White Cotton Gloves, Never, Repeat, Never Clean a Coin !!! Precious Metals ( Gold ) is Rising Up Quite Nicely in the Last few Weeks Too......  The Thrills of The Hunts, The Anticipation of Not Really Knowing IF you scored a Set or a Coin, You Just Had to Have.All these things and More come into Play when I see Precious Metals / Collections put up for " Input ", Possible Sales We Collect Coins and Currency's for Differing Reasons, I have seen, Many a Collection In Hand Be Put up for Sale to The Highest Buyers, I Truly Hope The Best for The Family Here, May they Get Guidance, Experience and Most of All, Treated Fairly, Good Luck  MD. |
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Moderator
United States
187702 Posts |
Very exciting! |
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Valued Member
 United States
361 Posts |
I didn't even mention the 12 - 1oz Krugerrands.
They plan on selling the Krugerrands for sure as they have no attachment to them.
The Eagles, are still up in the air, but yes, they understand the difficulty in making this decision. They have some debt, they have grown kids.etc etc. "Dad" was well off and enjoyed sharing his money. I think this is a way "Dad" planned on continuing to give, even after he passed.over 15 years ago now.
My job is simply to give them all the options and let them decide. It's a learning experience for me too and I have no skin in the game.
Thank you so far for all the input.
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Bedrock of the Community
United States
10982 Posts |
Can you get us some dates? There are some lower mintage AGEs that bring significant premiums. Particularly the fractionals.
I'd be happy to help if you can provide a list of dates and strike type (PR vs MS). Good luck!
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Valued Member
United States
361 Posts |
BH1964 thanks for the offer.
In the Blue OGP cases, both sets are 1996 and Proof.
All coins below are MS I believe, not proof.
1 - Paper 2x2 = 1993 1 oz
1 - Paper 2x2 = MCMLXXXVI (1986) 1 oz
Capital holders
1 Set of MCMLXXXVI (1986)
1 Set of MCMLXXXVII (1987)
1 Set of MCMLXXXVIII (1988)
1 Set of MCMLXXXIX (1989)
1 Set of MCMXC (1990)
1 Set of MCMXCI (1991)
1 Set of 1992
1 Set of 1993
1 Set of 1994
1 Set of 1995
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Pillar of the Community
United States
2333 Posts |
Quote:
There are some lower mintage AGEs that bring significant premiums. Particularly the fractionals.  Nice dilemma to be in! smat |
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Valued Member
United States
292 Posts |
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Bedrock of the Community
United States
10982 Posts |
Sure, I'll look through your list and post some results. You know gold has been on a run so while the prices are high, the premiums may be a bit lower.
Regardless, the 1/2oz MS 1991 piece is a biggie. Worth 5x melt in 69. Also, all of these are older AGEs. Your 1986 set is an inaugural year set and will always be a winner.
I'll let you know what I can find out.
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Bedrock of the Community
United States
10982 Posts |
Well here's a brief summary: If any of the MS pieces would go 70 at a top TPG (PCGS, NGC, CACG) then they're worth grading. The key is knowing if they have a chance at 70 which many of them probably don't. So here are the ones that go multiples of melt (some many multiples) at MS70: The 1/10 oz dates are 1986 & 1988. The 1/4 oz dates are 1986, 1988, 1990 & 1995. The 1/2 oz dates are 1986, 1987, 1989, 1990, 1991 & 1995. The 1 oz dates are 1986, 1988, 1992, 1994 & 1995. The proofs might be better sold in OGP. This is a quick rundown, hope it helps! Good luck! Edit: Removed comment on MS69. Edited by BH1964
04/14/2024 02:50 am
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Replies: 23 / Views: 1,526 |
Posted 04/10/2024 10:19 pm
