why do I see proof modern gold sold sometimes less than regular gold?
Gazes
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I see this especially with american eagles at 1/10 of an ounce
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Gazes
Posts: 2,315 ✭✭✭✭✭
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Could it be...supply & demand?
Occasionally, but not the norm. Proof buyers tend to be collectors, business strike buyers tend to be stackers.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@Gazes....Do you mean for a lower premium? Or below melt? If below melt, grab them. If for a lower premium, than someone is just trying to move them...Cheers, RickO
I meant for a lower premium. I guess I just assumed a proof billion coin would always have a higher premium than a non proof. thanks for the responses
maybe the collectors (proofs) or bailing (supply) while the stackers (business strikes) hold firm.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Sometimes collectors mostly bought proofs and the uncirculated coins have far lower mintages and higher values. Example is the 1997 Jackie Robinson $5 coin.
Most times, proof or uncirculated modern gold coins are just small premiums to melt. As they should be.
That's an excellent deal.
proof bullion is a sucker play , its worth more because its shiny they all say. Its annoying actually , its harder to store , you can fill a tube with 40 or 50 1/10 ounce bullion AGE what do you do with 40 or 50 proofs in those cheesy looking packages? Do everyone a favor and smash the capsule scratch the coin and set fire to all that velvety garbage they swaddle it all in.
Proof bullion is a solution looking for a problem , it removes clarity from the buy and sell decision , brings unwarranted attention and confusion to the process
Id also add that its an affront to the concept of collecting , producing it is the process of creating fake reasons to collect non scarce rarities that saddle the first owner with illusions of non existent "added value"
American Eagle premiums are high enough without any added "proof" premium. Strictly for serious collectors.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
what do you do with 40 or 50 proofs in those cheesy looking packages? Do everyone a favor and smash the capsule scratch the coin and set fire to all that velvety garbage they swaddle it all in.
Oh, the humanity!
Hey, what do you expect from the Mint? It's the Mint!!! We're way past the time when "proof" was a test coin for the workmanship of the dies.
I think that premiums on modern proof bullion rise & fall with the bullion market. When bullion has another field day, the proofs will probably climb faster. I'm not really much of an advocate for collector bullion anymore, but I'm not averse to it either. Most every type of bullion coin can be considered collectable to some degree.
I knew it would happen.
People sell me gold ( any form) at a discount, every week. I'd sell it to them near spot, if they were buying.
I think it's some people's only source of money, before the next paycheck. I'm speculating because I don't know the answer.
It's a phenomena to me. And why I sell on eBay is a good question, too.