Hello all! I am new to this site and admittedly know nothing about coin collecting. However, that is why I am here... to learn more about what I have! My wife's father left her with several US Gold Eagle 4-Coin Sets (7 sets I think). We recently took a few from the safety deposit box to try and understand their worth and ideas for selling a few. These coins sets did not come with anything other than what is pictured. My questions: 1) What appear to be the specifics of these coins? 2) What's their worth? 3) How does one go about selling them for maximum value? Thanks in advance!
Each set of 4 = 1.85 ounces of pure gold at $1346 per ounce. So $2490 should be the minimum price you get for them. They should be worth a premium so don't be in a hurry to sell. Value is determined by spot price. Apmex or Kitco is a good source for price.
Hi HoledandCreative, thanks for the reply. Why do you say they should be worth a premium? Also, any recommendations of an avenue to sell if we do decide to? Thanks!
Some of the fractional pieces are worth premiums over melt, the 1987 1/2 ounce, in particular. If melt is $2490 per set, then $2650 for a 1987 set wouldn't be out of line. Apmex's sell price on the set is $2843 as of when I'm writing this.
They may be worth a premium over spot like mentioned above but most routes to sell them will involve selling fees that would most likely negate any premium. I would personally bring them to a couple different local coin shops and tell them you're getting quotes from a few different places and going to sell to the highest. I would imagine you could get a little over their melt value from someone local who probably already has a buyer in mind and everyone wins. You get to unload without stress of online related selling and get cash in hand, the dealer makes a few dollars to keep their lights on and they find their way to a collectors hands.
Thanks for the insight, this is very helpful. I'm looking on Apmex, and for the individual gold eagles, the price varies dramatically. For example, the 1/4 oz 1988 sells for $662.17 while the 1987 sells for $492.18. Why such a difference? I figured the prices would be a fraction of the spot price (1/4 of the 1 oz spot).
The "middle weight" (1/2 and 1/4 oz) gold eagles were never terribly popular. People wanted full ounces, which were the most cost-efficient way to buy gold, or the 1/10 oz., which were the cheapest way to buy a piece of gold as a gift or for jewelry. The 1991 1/2 oz sells for $2490 at Apmex. EBay is probably not the greatest way to sell these, since their vig is rather significant. Contact Apmex for their buy prices and some local dealers. If you need local recommendations, you'll have to post your approximate location here and you should get some recommendations for who to see and who to avoid.
There's a collectibility above just the weight of the metal. The 1988s must be a little scarcer than the 1987s. I'm surprised to see it's that much of a premium, does Apmex have a buy offer for them?
Keep in mind, this is what Apmex is asking for them, we don't know how many are actually sold at that price. Check some completed auction sales to get a feel of what some have sold for, and when.
Apmex is one example where this doesn't necessarily apply. They price things at what they will sell for because they know the bullion market inside and out. They're not some ebay seller with BIN prices that will guarantee the coins don't sell. They need to move product and fast, they price accordingly.
Ah this all makes sense, thank you. I'm in Boston, MA... I see some reviews online, but any suggestions out there for local coin shops?
Do you guys believe it would it be more advantageous to open the set and sell the coins individually? Or would I get more for each set as a whole? Seeing as the individual coins vary in value, it would almost seem wise to sell individually, unless the price of a set incorporates the variation of each coin's value.
There's neither a premium nor a penalty when selling them as a set. If someone tries to lowball you for having to buy them all, decline and move on.
North Shore Numismatics on Main St in Wakefield is a reputable dealer. http://www.nscoins.com/ I'm in that area and @Nathan401 is near the MA/RI border, I believe, if you want to sell a set or 2 to a Coin Talk member(s). There are other members in the area, as well. Not sure what a dealer would offer, but I might be a buyer at "spot" (+ a small premium, say $150) as listed at Kitco http://www.kitco.com/market/
