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Facts About The Dansco 7070 Gold Page

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okie-colin's Avatar
United States
1083 Posts
 Posted 05/18/2009  11:34 pm Show Profile   Bookmark this topic Add okie-colin to your friends list Get a Link to this Message Number of Subscribers
There are 3.72486 Ounces of gold in the Dansco 7070 Gold Page. This is around $3500 at today's spot price for gold. Calculating what I paid to acquire all of these ten coins in MS-61 to 62, slabbed in PCGS or NGC holders, the gold price is around half of the value paid. That means that 50 percent of the value is numismatic premium. Conclusion - acquiring pre 1933 US gold coins is a really poor way to play the bullion market. The spot price of gold will have to double before I break even on just the gold value alone. On the other hand I guess I am a collector first, since I sold proof American gold eagles to acquire these old coins. One other thought. Proof gold Eagles are also a poor way to play the bullion market as well. I received a 36 percent premium over the spot price for gold when I sold them. I have been told that is because they can be used to contribute to an IRA?
Edited by okie-colin
05/19/2009 7:09 pm
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jbuck's Avatar
United States
188213 Posts
 Posted 05/19/2009  11:16 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
That is an interesting way to look at it. The good news is that you are happy with your choice to have "coin collector" gold, and not "investor" gold!
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shatsi's Avatar
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1541 Posts
 Posted 05/19/2009  11:36 am  Show Profile   Bookmark this reply Add shatsi to your friends list Get a Link to this Reply
Yeah, if you want to play the bullion market then the 1oz eagle or the bars are the way to go.
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Bryan1315's Avatar
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14454 Posts
 Posted 05/19/2009  11:13 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I guess I was lucky when I bought my gold coins for my 7070 album. looking back on the records of price paid I didn't spend over 600.00 for any coin in the page and most were allot less with the obvious double eagles being the most expensive ones I bought. I checked and I have just a little over bullion value in my whole page going by your calculations. Mine aren't ms-60 and above on all of them but the lowest graded one in that page was a pcgs 1911 $5 in AU-55 and the highest on the page was tied at MS-62 between the 1928 double eagle and the 1907 eagle with all others being MS-61 between NGC and PCGS so I think going by your calculations I did pretty well for price paid/beauty of the coins. I am not sure what the coins would cost today but still I would have to say one would be hard pressed to find more beautiful coins than the ones included in the 7070 at any price. Maybe for an investor who is looking to make a quick buck it may not be the best thing to go with but those type of people usually buy super high graded coins anyway and those seem to always do pretty well for the investor types, the lower grades like the ones in my album are for us people that just love the coins involved in completing the album and the price seems to move a little slower but still in my mind I feel like I still made a sound investment considering I had bought all of mine under 5 years ago and the bullion value is already just about what the cost of the coins were
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okie-colin's Avatar
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1083 Posts
 Posted 05/20/2009  09:45 am  Show Profile   Bookmark this reply Add okie-colin to your friends list Get a Link to this Reply
Thanks Bryan. I wish I had the means to buy these five or ten years ago, but I didn't. Oh well. If the collector value continues to rise with the price of bullion I may come out ok in a few years. When I get the last two double eagles from Harlan Berk is a few days, I am going to post pictures of the whole page, after I crack them out. Let me know what you think.
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