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<p>[QUOTE=&quot;John Burgess, post: 3644842, member: 105098&quot;]Just going to say if they offered below what you wanted, why did you sell it then? Clearly you could have said &quot;no thanks&quot; and walked away. People want to blame the dealers. The dealers have overhead and a shop and have to make a profit too when they go to sell it to someone else so they have to buy low. </p><p>As far as a PR70 proof coin goes they should be 69 or 70 it&#039;s not rare when it comes to the gold and silver eagles. Meanwhile the dealers have hundreds or thousands of BU Eagles that bullion buyers eat up at around spot so his option is to pay you raw bullion prices or pay you for the grade and the slab and let it sit there for 20 years hoping for that one person that is looking for a graded PR70 and willing to pay top dollar to come into his store just to move it.</p><p><br /></p><p>Regardless of what the home shopping channels told you, PR70 modern Eagles aren&#039;t rare, yes it&#039;s the top grade, but they should all be PR69 or 70 unless mishandled and they don&#039;t pay premiums for graded examples because they won&#039;t sell at the higher price not when everything else is sold at near spot. </p><p><br /></p><p>You have the right to walk away and not sell, the dealer isn&#039;t forcing you to do anything. He couldn&#039;t care if you sell him your modern Eagles or not, there will be another trying to sell coming in the door in a couple minutes and there will be people coming in trying to buy at spot or below all day long.</p><p><br /></p><p>The market regulates itself. There is no additional value to a PR70 graded modern eagle coin over spot prices unless you find a buyer with money to burn that is building a registry set. A coin or bullion dealer isn&#039;t going to hunt down that one guy and the registry set people already have what they need for the most part excepting the most current issues or the rarest ones. </p><p><br /></p><p>Easiest way to explain it is jewelry. You pay like $1000 for a necklace with about $300 in gold. They aren&#039;t going to give you $1000 for it, they are going to offer you less than $300 and if you are lucky maybe the full $300. </p><p>In the end its only worth what it&#039;s worth at melt and not more. It&#039;s up to you if you buy it for more than melt and up to you if you decide to sell it, but it&#039;s only worth what it&#039;s worth at melt.</p><p><br /></p><p>Welcome to bullion coins. The vast majority of buyers aren&#039;t collectors, they are stackers. They don&#039;t care about grade or rarity at all. They want to buy low and sit on it and sell high that&#039;s their game. When you add in that modern PR70&nbsp; eagles aren&#039;t rare at all then a dealer can only offer you spot because the people coming in to buy regularly wont pay much more than that, and if you don&#039;t want to take his offer, so be it, have a nice day then.</p><p><br /></p><p>The scam here isn&#039;t the bullion or coin dealer you are trying to sell to. The scam is the person that got it graded and convinced you it was worth more than bullion spot price. Even the mint markup on proof coins ungraded, we know going into it we are overpaying and it&#039;s only going to be worth melt unless we find a collector that appreciates proof coins that wants to buy it.</p><p>It&#039;s why when I do buy proofs from the mint I buy silver or gold proofs and not clad. </p><p>And if I decide to sell them one day it will be most likely because the melt value goes up high enough to turn a profit for myself like it did around my birthday 2011.[/QUOTE]</p><p><br /></p>

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