Think twice before buying GOLD Maple leafs

Discussion in 'Bullion Investing' started by mpcusa, Jun 24, 2022.

  1. baseball21

    baseball21 Well-Known Member

    Because it doesnt, you just havent seen someone being ripped off before that you realized
     
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Agreed, but my LCS made the scratched reference to the Maple Leaf only, he said
    AGE,s buffalos and Krugerrand’s are not
    affected by this but again these are the
    most popular for collectors.
     
  4. baseball21

    baseball21 Well-Known Member

    And I'm sure he would change to one of those if he was buying one of those. Small scratches only impact the graded versions, he was just making something up to talk the price down which is slimy
     
  5. Andy

    Andy Coin Collector

    What price did person expect. Nothing sold will yield listed price.
    Stocks have at the very least capital gains tax and perhaps commissions.
    Real Estate has agent commissions, taxes and government processing fees,(stamps) etc. on sale and if you selling to buy like investment then you still have to pay an agent to handle the Paperwork and transfer of money of 1031 exchanges.
    Gold coins and other collectibles or bullion have a middle man if you bring it to a Dealer. And the middle man is trying to make a living as well.
    Now the advice was sound. Some coins get higher return then others.
     
    Last edited: Jun 25, 2022
  6. Andy

    Andy Coin Collector

    With that said. I like Maple Leafs. Not the best investment coin but a Beautiful coin with less spot over market price then other coins. Great for decade(s) investment.
     
  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Generally, he was expecting the same, I believe there a minus 15 on the buy back
    so his Maples were 30, but for the most part
    I just buy Krugerrand’s B/U but with that said
    currently on a MS 70 kick on all pop PMS
    got a nice proof coming in on Monday so
    will for sure will post a pic :)
     
  8. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think Maples are awesome as well, but being
    a 24K coin it damages easily, so if your going
    to invest in them you must keep in pristine.
     
    element159 likes this.
  9. baseball21

    baseball21 Well-Known Member

    There's a difference between saying this is my standard buy sell price and saying I have to pay you less because of small scratches
     
    GoldFinger1969 likes this.
  10. Andy

    Andy Coin Collector

    I think they more of buy for its gold and hold for billion value. Krugerrands of course are known world wide and most likely more value for coin itself. Think with demographics and citizens of descent moving up economic ladder,Mexican coins should be looked at for sure.
    Don’t think I’m an expert by far. But try to look at stuff with common sense.
     
  11. Andy

    Andy Coin Collector

    I understand what you saying but if a person tries to low blow on a real estate listing, then wait for the next buyer. Same for selling coin. If seller feels buyer is not offering good deal, then leave. and leave number. Don’t sell if you think you can get price. Nothing is personal and all good business. What I think is nasty is knockoffs or stores in Chinatown on Canal Street selling fake gold jewelry to tourists.
     
  12. baseball21

    baseball21 Well-Known Member

    It's not good business to just flat out lie to someone because you think you can. Real estate is an entirely different animal in terms of what matters. Bullion is very straight forward standardized values its just for some reason coin collecting as a whole makes excuses for scummy dishonest dealers that would be considered snake oil salesman in another profession
     
    GoldFinger1969 likes this.
  13. CaptHenway

    CaptHenway Survivor

    Because gold maple leafs are 24kt, the metal is very soft and easily scratched. They also have very sharp corners on their rims. Because of the way they are packed in very tight tubes, it can be very difficult to get them out of the tubes and into individual flips without one coin damaging another. And. let's face it, people who buy them in tubes like to take them out and look at them now and then.

    People buying maple leafs, like another bullion coins other than maybe sovereigns and 20 franks and the like, often demand perfect coins. Thus, scratched maple leafs can be harder to sell unless you discount the price a few dollars. Therefore, when you are buying "scratchy maple leefs" you have to pay a few dollars less.

    The discount fluctuates with the damage. A few scratches might be $3-5 under melt. We once had a guy come into the coin shop with a cigar box with about 80-100 one ounce gold bullion coins all loose inside the box. All of the 24kt coins were horrible. All we could do with the lot was sell it to our refiner, and he paid us less than melt so I think we bought the lot at 98%.
     
    -jeffB, GoldFinger1969 and element159 like this.
  14. CaptHenway

    CaptHenway Survivor

    American Eagles and KR's are 22kt and much less likely to scratch. Buffaloes are sold in mint plastic sheets you cut apart but leave the individual pieces sealed. If still in the mint plastic we buy them as perfect. If removed from mint plastic, you check the condition and pay accordingly.
     
  15. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"


    Mexican gold, you will never find that even
    close to spot, as far as bullion goes wouldnt
    recommend it if your looking for a strait
    bullion purpose but it’s high on the cool
    factor that’s for sure :)
     
    Andy likes this.
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    That seems fair...someone said something about a 30% discount which was nuts.
     
  17. baseball21

    baseball21 Well-Known Member

    Agreed. Slightly under melt to send to a refiner most people will understand.
     
    GoldFinger1969 likes this.
  18. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Not sure if your referring to my post ?
    I said $30 not 30%…LOL
     
  19. Jim Dale

    Jim Dale Well-Known Member

    I like the American gold coins. I buy gold for collecting. I enjoy taking them out and looking at them, but I take every precaution I can to ensure that they will not be damaged. I only have about 6 "RAW" U.S. gold coins. I only buy my coins from the U.S. Mint, mainly, because I like the way they are packaged. However, the Mint has really lowered their standards packaging the coins. When I get my coins from the Mint, I open up their box and look at the coin(s) and packaging and leave them in the packaging. I do take the Packing Slip and I print all the documents related to the coin and I package them in sheet protectors. I keep all gold coins in a box that is secured, all other coins, etc. are put in boxes for each year with a list of all the coins that I bought for the year. I do not sell my gold coins, nor my silver coins, nor any other coins or currencies or documents.
    Best of luck to those that sell their gold coins. I found that from the time a gold coin is purchased, it will then sell for at leaxt 2X what was paid.
     
  20. -jeffB

    -jeffB Greshams LEO Supporter

    If only that were true for the First Spouse gold issues.
     
  21. baseball21

    baseball21 Well-Known Member

    That's really not true especially for ultra moderns from the mint. There are some that have gone up particularly last year with the design change and some special sets here and there, aside from that the majority need metals to spike to gain value or be a graded 70.
     
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