I recently purchased a $50 gold coin (1 oz.). Did consider getting the 09 SVDB because I need that to complete my Lincolns, but decided on gold. In the past I was a regular coin collector, but recently have taken a break. This was my first time jumping in the bullion market. It is an uncirculated coin, probably at least MS 65 condition. My question is, if I was to sell it would I just get spot value or more based on condition. I'm new to the bullion market.
I assume the coin is raw are you talking about an AGE or Buffalo? In general though even if it was slabbed unless it was a conditional rarity you'd likely be looking at spot or maybe a little over. It's also likely some would offer you less than spot but I'd walk in those cases.
The day I bought it spot was at $1,280. I paid $1,394 at my local coin store for the uncirculated coin, which has always been pretty proud of their inventory. I am sure I over paid a little.
Unless it's an MS-70 it will trade as bullion/percentage of spot. (Even the MS-70 may not get you much of a bump). Maybe you could have done better than 8.9% over spot...you can find lower prices but once you add costs of shipping/fees etc, who knows if that extra percent or two is worth it to you. Oh, and how you paid (cash vs. check vs. credit card vs. wire). A one ounce AGE is as about as basic a bullion you can get. You can check online prices as a ballpark like Apmex or Golden Eagle or Provident. http://www.apmex.com/product/102251/2017-1-oz-gold-american-eagle-bu?featprod2 https://www.goldeneaglecoin.com/buy...s/one-ounce-uncirculated-american-gold-eagles https://www.providentmetals.com/1-oz-us-american-gold-eagle-coin-dates-our-choice.html The price of gold isn't too much different and their credit card/single coin price isn't too far off of yours. As for your selling price, well look at the links. You can find the companies' buy prices as well for such a common item...Provident for example shows a tiny premium of under 1% for their buy (and don't forget to include shipping TO them) as of the time I looked. Best bet...ask your coin shop what they would pay as a percentage of spot TO you, vs. the percentage they charge. Don't begrudge them a spread as they are the ones taking the arbitrage risk/overhead risk etc...but it might be enlightening. Better yet, have a friend call and ask what they are paying for one currently.
I missed eagle in the title so I it's an AGE which as another person mentioned is pretty much as common as bullion gets. Even if it was in MS65 condition there are untold numbers in equally good or better condition as although these are bullion they don't really ever circulate so most are in high MS condition. I know it runs contrary to some peoples belief but sometimes it's better to pay the premiums locally as it can help you build a rapport with local shops and get better future deals or have a place to quickly unload a coin if you ever needed to sell.
The local shop that I bought AGE from charges spot +$75 when you buy them and spot +$20 when you sell it back. This is for ungraded coins in nice condition. For something all beat up they would probably just pay spot. I think their spreads are very fair. Some stores will pay 3-5% less than spot.
I generally nab my gold eagles when one of the reliable dealers, such as APMEX and others, have an eBay deal. The advantages: -- The premium is usually as low as you will find. -- You can use PayPal or a credit card without the typically steep credit card surcharges.
