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 Replies: 13 / Views: 2,514 |
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New Member
United States
10 Posts |
I'm almost certain that I over paid for it, It's an NGC certified 2010 ms-70 one. I paid $1,675, and I think the price per ounce of gold is about $1,300. So I paid about $300 more than that.
Hypothetically, if the price of gold per ounce was $0, then would my coin be worth $300? Edited by paulmvr
02/08/2011 09:36 am
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Bedrock of the Community
United States
17884 Posts |
Can't really say. It would depend on how many collectors wanted it. (On the bright side as the value of the gold fell, heding toward $0 the number of potention collectors who could afford to collect them increases. There are possibly a LOT of collectors who would like to collect this coin by date who can't afford it at current levels. Of course you still have the problem that if the gold was worth $0, why would I want to pay $300 for a 70 when I can buy an almost indistinquishable 69 for a lot less?
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Valued Member
United States
463 Posts |
welcome your post makes little sense
people will pay big money for ms70 bulllion dont know why but the average cost of 1oz coins are 50-100 over spot and with gold at 1360 you would exspect to pay 1410+
Again your post makes little sense if something was worth nothing why would anyone pay 300 dollars for it. It will go for the price of gold + what someone would pay for a ms70 bullion piece
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Bedrock of the Community
United States
12437 Posts |
 Even a raw ungraded Buffalo will typically sell for $50-100 over spot depending on where you purchase it, it is almost impossible to find one at spot prices. Quote:
Hypothetically, if the price of gold per ounce was $0, then would my coin be worth $300? No, but it would still have its $50 face value  |
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New Member
 United States
10 Posts |
Ok. I was just wondering if, lets say gold was $2,000 an ounce in the future... could I sell it for $2,300 just because it's certified ms-70. But I spose it just depends if someone wants something to be ms-70 bad enough. I wasn't aware when I bought it that it's a waste of money to buy modern certified gold coins... but I've always thought ms-70 was an extremely rare grade... If I had a certified ms-70 1959 Lincoln Cent, it would probably be worth a ton!... I'm sure a grade that high doesn't exist for that old of a coin.. but you know what I'm sayin? Edited by paulmvr
02/08/2011 12:09 pm
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Pillar of the Community
 United States
2448 Posts |
You're also forgetting about the number of MS-69 and MS-70 Buffs are out there. I did a quick check of the PCGS POP reports and was amazed to see the grading of just MS69 to MS70 runs between 6:1 and 10:1. The 2006 $50 Buff minting produced a staggering 1200+ MS-70s alone. There is little premium above spot for any of them.
I also looked at "Saints" for several years and, as if I didn't already know, there were never any graded 69 or 70. The numismatic value, as if we don't already know, is hundreds of thousands of dollars above spot.
It all boils down to rarity and desirability. I'd take a 1908 Saint over a 2008 Buff any day. Gotta remember that the Buff was always a bullion coin and NIFC. At least in the near future, It'll always and somewhat track the spot. Now, as for the $5, $10, and $25 Buffs; their rarity makes me wish I could only afford multiple coins.
If you hang on to your bullion coins long enough, they'll appreciate. I doubt that any of us will be around to see it though.
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Pillar of the Community
Australia
2830 Posts |
this thread highlights the difference between collecting coins ... and collecting bullion.
Peter in Oz
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Moderator
 United States
188207 Posts |
Well said, Peter.  |
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Pillar of the Community
United States
2448 Posts |
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Valued Member
United States
299 Posts |
IMO, that premium is a bit high.
I collect these buffs in 70 proof condition and that is about what I'd expect to pay for a PF70 in hat year.
Now if this were an 08, you'd be looking a gift horse in the mouth to question that price - or be wondering if it was counterfeit, LOL
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New Member
United States
10 Posts |
Are PF-70s worth more because they're shiny... or because they're more rare?
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Pillar of the Community
United States
3592 Posts |
paulmvr...supply and demand
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Valued Member
United States
299 Posts |
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Rest in Peace
United States
9104 Posts |
Quote:
Hypothetically, if the price of gold per ounce was $0, then would my coin be worth $300?
No. The coin would be worth $50 (I think that's the face value). You made two purchases: $1300 in gold, $300 in plastic. |
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Replies: 13 / Views: 2,514 |
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Posted 02/08/2011 10:56 am
