Value of my coins

Discussion in 'What's it Worth' started by StacyK, Jul 12, 2019 at 5:45 PM.

  1. StacyK

    StacyK New Member

    Hi there. I have some gold and coins that I my father left me that I am trying to sell. I went to some coin/jewelry stores today to get some estimates.
    This is what I have:
    3 1oz Mark Twain medallions
    3 1oz Grant Wood medallions
    1 1/2 oz Will Cather medallion
    1 5 oz Suisse gold PAMP
    The price of gold was 1416 today and the highest offer I received was this:
    $7610 for the medallions and $6550 for the gold bar. Can anyone tell me if this is a decent offer?
    Also, if my coins, bars, etc. don't have any numismatic value, how much under the spot price is fair?
     
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  3. furryfrog02

    furryfrog02 Well-Known Member

    So let me get this straight, you went to sell 11.5oz of gold today and were quoted $7610? If I'm doing my math right, 11.5oz x$1416 = $16284. What you were offered was less than half of melt value.
     
  4. Michael K

    Michael K Well-Known Member

    7610+6550= 14,160
    When you figure in purity %, they have a business and have to pay rent,
    and salaries, plus the smelter makes something too, it's probably
    a fair ballpark.
    Best just to sell small items 1 at a time when you know exactly what it is worth and what they are paying you. Rather then get hosed in 1 big lot.

    Always weigh your item on a scale, divide by 31.1 (grams per ounce) multiply by the gold content ( .90%, .995% whatever) then multiply that by the spot price. Then the gold place is always going to take a percent for themselves. You can ask them and they will tell you. So then you multiply that final number by whatever their cut is minus from 100, so you know how much they are going to offer you before you come in. If it's well below that number, then they are trying to cheat you.
    Always know the value of what you are trying to sell before they make an offer so you can compare.
     
    Last edited: Jul 12, 2019 at 6:02 PM
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  5. CoinCorgi

    CoinCorgi Derp, derp, derp!

  6. cpm9ball

    cpm9ball Cannot Re-Member

    You forgot to include the $6550 offer for the 5oz. Pamp Suisse bar.

    Chris
     
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  7. furryfrog02

    furryfrog02 Well-Known Member

    Math is not my strong point haha
     
  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Their offer is fair. They are making roughly 8-10% off the transaction. And a business does need to keep its doors open.
     
    Michael K likes this.
  9. paddyman98

    paddyman98 No Common Cents! Supporter

    That sounds like a neat stash!
    Can we see a picture of all of them? :watching:
     
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  10. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I know you didn’t ask about this but it bears mentioning. You mentioned your father left them to you so my assumption would be your father is departed. Understand that cash is fleeting. It comes and then it goes far too quickly. Think about the possibility of feeling loss or remorse when dad’s coins and then the cash are gone. Just something that is worth consideration. Good luck.
     
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  11. StacyK

    StacyK New Member

    I can't get the picture of the gold bar to come up but here's the rest.
     

    Attached Files:

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  12. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

  13. StacyK

    StacyK New Member

  14. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Yes, they weigh more than 1 ounce.

    1981 Mark Twain Gold Medallion Specifications:
    Designer: Matthew Peloso
    Mint: West Point Bullion Depository (no mint mark)
    Mintage: 141,000
    Sales: 116,371
    Composition: 90% gold, 7% copper, 3% silver
    Weight: 34.60 grams
    Diameter: 32 mm
    Thickness: 2.95 mm
    Edge: Plain

    APMEX is a Bullion exchange that buys and sells precious metals.
     
  15. Barberian

    Barberian Junior Member

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