they are paying 15.09 an OZ, did anyone expect this? we were in the 13.00 range last week now at over 15.00, whats the deal here? its scary how much the market is fluctuating, Any thoughts
Its enough to keep me from buying gold. Although it will probably go up I'm too afraid that a decline is on the horizon. I think the problems with Iran and what's going on in the middle east is a large part of it. This recent climb I think is from Putin's speech the other day about building up their military and increasing their population not to mention his obvious slam of the USA. A lot of uncertainty in the world right now. Plus with the dollar falling and the fact gold is at its highest in over a quarter century I think a lot of people are jumping on the gold bandwagon driving up the price. I fear as it climbs many people will be more reluctant to buy it at such high prices forcing a decline. Although a lot of forcasters are predicting gold to reach as high as $1,000. Amateur analysis so take it with a grain of salt.
I want a few Oz, but can bring myself to pay 720 for a single OZ.... When, I can get about 50 Silver Rounds or (5) 10 oz Bars for that... If you were to take some gold, would you get 1 oz AEs 1 oz Maple 1 oz Krugs 1 oz Bars (Pamp or Credit Suise) Something Numismatic or what?
I can't see myself paying 600 an OZ I have 2 calls to buy gold from the add that I have put in the paper I wish I could get one of you guys to tell me the value of each coin respectively from 1.00 to 20.00 gold Thanks bandito
If their graded just use the online auction guides as a reference to their value. If they aren't graded I'm sure you can post some pictures and get a good idea from some of the more knowledgeable posters here. Personally if I had bought a lot of gold before this year I would be selling it like hotcakes while the prices are high. It may go higher , but then again it may taper off and drop.
My problem is with the Ad I have running I have a lot of people calling in asking whats a 10.00 1882 coin worth I guess what I am asking is what is the gold value on a 1.00 to 20.00 gold coin, regardless of the numismatic value, whats it worth just in Gold bob? By the way I call everyone bob, even my kids just a thing I do, What can you say I'm a coin collector What I have been doing is popping on ebay and checking what the value of the particular coin that they are calling about is going for, but I am not always near my laptop when they call I offerd 315.00 on a 10 dollar 1882 gold coin and 5.00 indian The man said the pawn shop had offered 250 just on the 10.00 coin! I HATE PAWN SHOPS!!!
Use the redbook to lookup the actual gold content or another onsite coin guide then match that to the current value of gold. 1 oz is currently up to $720.00 as we speak. So 1/2 oz would be roughly half that and maybe add a premium for your time. Here's a link. There are probably others. I just did a quick search. Of course this is melt value. http://www.users.bigpond.com/cruzi/coins/Gold/content.htm?spot=540 So I take it your put out an ad to 'buy' gold from people ? If so how is that working out?
So a redbook will list the Gold Content in Grams and Oz's? I think the red book is rather high priced, Thats a good guide to sell by but whats a good guide to buy with?
I don't use the RedBook as a price guide, I use it for an estimate of the coin's value compared to others in that particular series-and even then I take a certain % off what they say. But I learn a lot-JP's sells them at less than list price-but with shipping.......
The market flunctuates tremendously. The redbook really just gives you a ballpark figure. Auction house price guides give you the actual prices that particular coins are selling for. Usually over a year or so span. There really is no 'set in stone' price guide. Sometimes you have to pay a premium to get that coin you want and sometimes you get a good buy. "JP's " ??
Yea I see both of your points. let me ask you this if you were in my shoes what would you offer on a 5, 10, 20.00 gold piece site unseen if you recieved a phone call? based on Gold at 600.00 an OZ?
bandito, it is true. I can't believe what the gold and silver prices are. Heck, I bought a 2005 1/4 oz gold eagle for $150 just a couple months ago when gold was at $562 and ounce. In my opinion, $315 is not near enough to offer somebody for a $10 Lib and $5 Indian gold coin. I don't know what is a good price as I don't have the coins to look at in front of me. A lot would depend on the condition of the coins, but even just on bullion value, you're shorting people with prices where they are. Heck a $10 Lib with prices at $720 has a fair share over $300 worth of gold in it...closer to $350. Of course, you can offer to buy something from somebody for any price that you care to. I know the coin dealer I go to was offering to buy gold for 65% of melt the other day... I think he doesn't want to get screwed in case the price drops out. People were still selling it to him too. I would suggest what others have suggested and check out completed auction prices for coins. However, if all you're doing it trying to buy non-numismatically interesting gold just to have gold, get a Redbook and when somebody has something to sell you, you could look at how much gold there is in it and decide what percent of spot you're willing to pay and offer that. Now, I would only do that for very common coins and not for anything that should sell at a real premium if in nice condition or for any non-common coins. You still want to be able to sleep at night, even if people don't know what they have.
The price will vary by year/date. Some years are rarer then others and therefore worth more. The conditon of the coin also has a lot to do with its value. Either you go by the melt value of the coin and low ball it from there or you risk losing money. You could buy a coin based on its date only to find out its horribly mauled which would be a bad thing. Melt value according to : http://www.users.bigpond.com/cruzi/coins/Gold/content.htm?spot=720 American gold coin Bullion $5.00 1/10th troy oz - $72.00 $10.00 1/4th troy oz - $180.00 $25.00 1/2 troy oz - $360.00 $50.00 1 troy oz - $720.00 That is with current prices. Of course you will want to offer much less for the coins and this is only their worth at melt value. The metal contents are merely for the US Mints Gold coin bullion. Some older coins have different content and value.
:thumb: IMO Typically, prices slow down in the summer, but this last year has been anything but typical. :shrug:
