Hello, Has anybody ever bought graded (MS-69) gold american eagles from the U.S. Rare Coin and Bullion Reserve either for investment or collecting purposes? I called them for a quote and they gave me some current prices. Do they overcharge for their gold coins? The only coin price guide I checked was the PCGS list. How accurate is their list? I also tried doing a search for previous threads about the USRCBR on this website, but I only found threads regarding the U.S. Mint. I don't want to make a purchase I will regret. Any help will be appreciated. Thanks.
I would advise to check out completed auctions on eBay to see what they are bringing! You can also check with some local Coin Dealers to see what they are selling them at as they will usually keep a few graded AGE's around. Good luck...Frank
IMO Gold American Eagles are exactly what they are, and that is "Bullion". No more or any less. So the cost over the price of Gold is pure speculation and you may or may not ever get your money back.
There are quite a few advertisers on this website who sell gold. Click on a few and compare prices. That, along with the suggestions above, should tell you whether or not you are overpaying. Personally I tend to agree with Old Dan. Gold and silver bullion coins are not worth the same sort of premium as coins minted for circulation -- regardless of grade. But if you have your heart set on buying a graded gold American eagle, I'd probably go for one of the $25 half ounce coins. It might be worth a premium someday as the only $25 denomination coin ever minted.
Any bullion coin with a date has the potential for other than bullion value. If you doubt this try to buy lower mintage number date gold or silver Eagles for the same price as higher mintage years.
late response i have recently had dealings with usrcbr and have to admit that my experience was wonderful coins i ordered arrived as promised ina very timely manner will definately use them again
I have a few (or 5or so ) but I bought them before the price went nuts. All 1/10 oz pieces and MS-69 (I believe) but paid a minor premium over melt at the time, say a couple of bucks over. I, for one, would never pay a hugh premium for the graded pieces, that is just the way that they came.
I do not personally collect "bullion" coins but what I see is this. MS69 examples seem to abound. MS70 a lot bigger premium. To me if you're going to buy bullion then just do that. Go to a shop, a show etc and buy "raw". Chances are you'll find MS69 coins that you can have slabbed for yourself. I go through rolls of Silver Eagles for my boss. He sends them bulk looking for the MS70 grade. I really hate that part of the job but he pays me. My thoughts. He may get a few MS70s from a few hundred coins. 95% of the others will get MS69. Not worth the premium in a slab IMHO. clembo
Not sure I've ever heard of them. I'd be real carefull of buying anything from any company that you don't find out to much about here.
Since the coins would be probably new coins, why not get them straight from the mint and send them off to a Grading Company yourself and save a small fortune and end up with the same coins? That way, you get them at bullion price and as time goes by your bullion investment is not affected but the collectable value will go upwards and it didn't cost as much so you can get more with what you save. Ribbit
humbled new member I just found out - 5 years too late that several dealers I have talked to locally will not buy back the several oz of Gold american eagles for more than 10-15% over spot melted rate. I called USRCBR today (3/21/09) and they are trying to sell one oz coins for $4250 (price of gold today- KITCO is good source is approx $970-980/oz) I doubt the MS-70 rating will get anyone 4 times the per oz price. I hear from my Oregon coin delaer they send thousands of coins to get a few rated by PCGS as MS 70 out of the batch- they have blazoned directly on their site they are selling these at 'melt down price.'- the 'salesman' simply said- that is our price. Please buy nothing from them - Google USRCBR and Gibson law firm to see the case in 2007 that involved an unsuspecting elder who got swindled to tune of 420 K (that's thousand, not Karats !) -Dave
Many times you can get raw GAE from a dealer cheaper then you can them cheaper then you can get them from the mint. Also if its bullion you may want to look into Kugerands they dont run a very high premium on them, but they aren't as pure as they are only 91.67 fine
USRCBR - In my opinion... Here is a link to some info I found about these people; http://www.setexasrecord.com/news/196673-judge-may-order-mediation-in-coin-company-fraud-case Here is my experience with them; June 9, 2010 I called to place an order on May 27, 2010 for American eagles sold at "cost" for $126.00 each. I gave all of my info only to be placed on hold for over 20 minutes. I called back and was told that they still had all of my info but due to the "heavy caller load" I must have been disconnected. I again placed and confirmed my order with the same results. After spending over 1 hour trying to place my order the "good ole boys" gave me the entire "sales pitch" again. I could not get past the constant sales pitches for items I did not want. I felt like I was dealing with a group of entitled "brats in a locker room" and it did sound like that in the background with me receiving the brunt of the jokers there.I was then told to wait for the return "Verification call," that NEVER came. After 2 weeks, I called back to check on the status of my order because I didn't receive the promised verification call. I called at 11:30 am and gave "Grant" my zip code and he confirmed all of my info in the system and promised that "someone would call me back within the hour" to confirm my order. AGAIN, NO CALL BACK. I called back at 6:30pm to again inquire as to the status of my order and Robert answered the phone. I asked to speak with a supervisor to explain the problem and try to get some sort of resolve to my order. A "Robert Raven" (Claiming he was the "Manager") came on the line and knew everything about me but claimed that my order was not in the system. He was extremely rude and insulting and refused to listen to anything I had to say - He knew it all and repeatedly cut me off before I could finish a sentence. Then he began to insult me. I told him I did not think he was acting very professional - especially as a manager representing a company. It continued to go downhill from there. My greatest concern is that I gave my credit card info to someone there and it was confirmed - although he said my info was NOT in their system and he could not find my order, I must now begin checking my credit report to prevent being scammed by them. I was treated poorly from the very first call and each consecutive call was much worse. He said he would double check the system for my order and would call me back personally to confirm my order - At this point I only wanted to prevent a charge on my credit card as I do not believe this is a reputable company. It will be interesting to see what happens. Even with a refused order they will attempt to charge me a 5% restocking fee that I will oppose vehemently with my credit card company. BEWARE AND DO NOT DEAL WITH THESE IDIOTS...
Michael, First of all, welcome to the neighborhood. Your run-in with this company sounds like a typical bait-and-switch scheme. They probably don't even have any of the coins that were advertised, and the probable reason that you never received a return call was that they were unable to sell you on any other "product". Since you have already given them your CC info, I would suggest that you contact your card company immediately and have them block any charge from that company. Chris
When you go to resell those, it's unlikely you'll get offered much over the bullion value by any dealer you go to. Consider this when you look at the price you are being asked to pay. ...Tom
