I found a foreign BU proof gold commemorative coin from 1972 that has 0.2531oz of gold for $255. The gold content alone is $248! Should I go for it? Is there something negative attached (value-wise) to buying a gold commemorative coin? Let me know, Thanks!
Depends, what is the gold fineness in this coin ? Not all of them are .900 or higher fineness. So if it is say .500 - then it wouldn't be a good deal at all. Tell us what the coin is and we can look it up.
[SIZE=+1]From: Gold Coins of the Caribbean I know the one you have is 72. [/SIZE][SIZE=+1]1975 [/SIZE][SIZE=+1]$100 Brilliant Uncirculated Gold Coin[/SIZE] This $100 Jamaican gold coin features the bust of Christopher Columbus on the obverse. The reverse features the national arms of Jamaica. This coin was struck at the Franklin Mint. This coin is minted in .900 fine gold, measures 26mm, weighs 7.8 grams, and contains .2265 oz. of pure gold. This coin is in mint condition in the package of issue. (Only one coin available) $285
I got a gold 1932 Dutch 10 Guilden coin (0.900 fineness) just below spot! Gold content is 0.1947oz ($191) and I got it for $190. My first gold coin, I'm very happy
If you are quoting the AGW (Actual Gold Weight) it's a good deal, but if you are quoting the total weight of the coin, the answer to Doug's question is critical.
If something is so unusual that it will be difficult to sell because of a lack of collectors or people familiar with it, then it probably isn't a good purchase.
It's a fine purchase if you can get it for the value of the metal content...that way there is no collector value associated with it.
