Saint-Gaudens (Cleaned) $10 Over Spot For Me

APMEX sells random cleaned St Gaudens but not $10 over spot. But a nice lower $$

 

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I bet if it is true these are the absolute most common Saints and their being cleaned etc. makes me nervous. Why not wait and buy a better coin that is certified. A 1913-S, 1909-D or 1914 has mintage of less than 100,000 and these are coins that circulated. They are not that much more that 1927 or 1928 with mintage in millions. Better yet take a look at Liberty Head $20 coins.

 

The seller probably bought them months ago for spot or just under when gold was $100 an ounce lower. So $10 over is still a decent profit. Now if gold goes up its a no lose. If it goes down you'll be underwater. If you look at it as buying bullion rather than a numismatic investment then it's a decent investment. Tho it's billion in an attractive form

 

That's all it will be. We can assume it's a really common date with no numismatic premium, meaning his resale demographic will only be bullion buyers too.

 

I'd buy them all day long at that price.

 

I found out it all depends on the market. In some markets dealers only pay below spot - say 98% (honest dealers). At the moment, even cleaned Saints are selling a little over spot. $10 may be a good deal for a collector but dealer's pay less than that. In any case, you don't need to read the "Ching" to know for certain that the coin will be worth more than you are paying today.

 

Don't do it! Too good to be true.

 

How do we know that a Saint bought today will be worth more a year from now?
You must know that price of gold is going up and up and up forever. Trees don't grow to the sky. If for some reason the stock market starts a new bull market why will people pay more for gold? I can buy a financial asset and make 7% on it with minimal commission and not storage costs. Gold coins pay no dividends or interest and unless we are looking at hyperinflation or financial meltdown we have no good idea what the price of precious metals will be 5 months, 5 years or 50 years from now.