Premium on common double eagles

Nope, don't remember. Just remember that I paid more for the better date, --something substantial like $50 more... Which doesn't sound like much now, but at the time could have probably gotten a 1904 Russia 5 Rouble with the $50 instead of the better date: A raw 5 Rouble which is now a $590 coin.

 

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It sold for $4,560 w/bp ($3,800 without).....gold was about $4,300 that day so only a 5% premium for the CAC bean and an OGH.

Wow.....

 

So the consignor, for this MS65 OGH double eagle, got almost 10% below spot?!

 

I guess so.

But that's what I have always had trouble understanding...unless you're a distressed seller and willing to take a lower price just to raise cash....aren't you always going to be losing all or most of the BP if you sell through an auction site ? Even GS is 10-12%.

OK, nobody works for free but a LCS or dealer probably has a tighter bid-ask spread.

And during the dealer-to-dealer part of a big show like FUN or other coin shows.....if the selling dealers get top dollar (full retail) then how is the buyer going to make $$$ re-selling and still being competitive (unless the price of the metal rises) ? Conversely, if the seller accepts less than full retail or wholesale...isn't he/she leaving something on the table as the buyer than got it at a price he can mark up ?

This aspect of the business always confused me as if the price of the metal was flat for a long period of time, it appears to be a zero-sum game and I'm wondering who would want to "help out" the other person by accepting less $$$/paying more $$$ ?

Good thing I'm a money manager and not a businessman !!

 

And an identical coin in January 2024 when gold was $2,050 sold for a 75% premium.