Krugger or not to Krugger ?

Discussion in 'Bullion Investing' started by mpcusa, Oct 6, 2021.

  1. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I found this on ebay, what do you think should I pull the trigger ?


    1978 South Africa 1oz Gold Krugerrand PCGS Gem Uncirculated WTC Ground Zero Reco

    Condition:
    --

    “Pretty coin here. See pics.”



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    US $2,445.00

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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  4. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  6. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  7. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    No. Maybe this a personal thing but I would rather buy one for about $600 less elsewhere . I don't care where it comes from. A Krug is a Krug in my book as long it's apples to apples .( proof vs Proof or Unc. vs Unc.)
    Buy 1978 South Africa 1 oz Gold Krugerrand BU | APMEX
     
  8. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    The thing about this coin is the source, WTC recovered GOLD, found another one
    thats almost $2,800 ! the premium is $ 600 over spot on this particular coin
    and thats very rich ! I usually dont buy graded or slabbed coins especially bullion ones, most B/U anyway so why pay the premium also the year is very common
    and it really would fit in to my life event collection, but you have to admit even
    though this was a very tragic event, I really think this would be something a
    survivor should own, not sure what the population is ?
     
  9. Mac McDonald

    Mac McDonald Well-Known Member

    Maybe not understanding something, but how can it be of/from WTC ground zero recovery when dated/minted 1978...? Regardless, to answer the question of pulling trigger: No. Buy U.S./AMERICAN...! ;)
     
    midas1 likes this.
  10. midas1

    midas1 Exalted Member

    Maybe it was stored at the WTC.
     
  11. Jim Dale

    Jim Dale Well-Known Member

    I thought that anything recovered from the WTC destruction would be the property of the government until it can be determined who owned them. I, personally, would not want anything from the WTC destruction by the crazy, stupid people that caused it.
     
    john65999 and spirityoda like this.
  12. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    There were large vaults containing bullion inside the WTC. This coin would have housed inside a WTC vault when the attacks happened.
     
    midas1 likes this.
  13. imrich

    imrich Supporter! Supporter

    NO, ask @SensibleSal66 where a hypothetical comp can be purchased at the lesser price quoted. It should be available to you also now.

    JMHO
     
    SensibleSal66 likes this.
  14. imrich

    imrich Supporter! Supporter

    I believe you'll find the spot price for that coin before slabbing is ~$1790. If the prominence and certification are correct, a 30% premium is believed reasonable for that bullion coin.

    When the internet was in its infancy, I bought 20 1oz. raw coins, believing that I could realize a premium on the FINE (i.e. <92% Au) Gold bullion coins. It took many years of advertising, etc. to realize a less than 5% return on investment.

    My experience is that other bullion coins may return a better ROI.

    JMHO
     
    Last edited: Oct 6, 2021
  15. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    The 30% premium is really just for the label, without it , it is just another generic gold coin. I am happy they haven't made labels for Pearl Harbor, or the Viet-Nam withdrawal using coins from the embassy yet. IMO, Jim
     
    midas1 and imrich like this.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    it’s my understanding that there was
    a company that handled gold coins
    from various years and these were
    found in the rubble, I like Kruger’s
    they have been around along time
    and the number one traded gold
    coin, plus I am using them to mark
    life events as the years are stated
    very clearly and in large numbers
    on the back.
     
    Mac McDonald likes this.
  17. Jim Dale

    Jim Dale Well-Known Member

    As I mentioned earlier, Coins from the WTC destruction is "blood money." If the source was legit, why did then have to put the WTC on the slab?
     
  18. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    I think there are two different issues with this comment.

    First, the "blood money" argument. If your position is that someone is profiting off a tragedy I guess that argument can be made. On the flip side, coins tied to historical events are popular. In my mind, this is no different than a shipwreck coin. It's not really my thing, but I don't see any issue with it. I feel that the comment "blood money" ties some kind of morality (or lack there of) to owning/selling this coin and I just don't agree with that.

    As for the "if the source is legit" a argument...that doesn't really hold water for me. There is no way to tie the provenance to this coin after the first sale. Because 1978 Kruggers all look the same, a letter or paperwork to document it's history would not hold a lot of weight. Slabbing by a well respected TPG ties the provenance to the coin. As long as the coin remains in the slab, the history is confirmed.
     
  19. Phil's Coins

    Phil's Coins Well-Known Member

    MY OPINION: (I know, everyone has one) but when I purchase gold I purchase RAW and as close to spot as I can find. The ONLY way I purchase graded: 1. If it is a rare coin. 2. If I am buying a collection and then I make a deal as close to spot as I can get and still purchase the collection.
    Semper Fi
    Phil
     
    mpcusa likes this.
  20. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    It does have to be proven beyond a shadow of doubt to be put in to the
    holder, Collectors universe does have an excellent reputation and would not
    jeopardize its reputation over this
    that’s why they have a verification
    process.
     
  21. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    To my knowledge there was only one company that stored Kruggers at
    there offices and I am sure they
    made a quick insurance claim.
     
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