Last low grade 20 I sold retail was Tuesday. So one a week. I take In way more than that. Sold for melt +35. They even got to pick it. Half hour transaction.
I would never buy a junk $20 because of the counterfeit risk. Graded $20's in MS62 and below are often available at melt or close to it, so if I wanted to stack classic gold I would go that route.
@Overdate said:
I would never buy a junk $20 because of the counterfeit risk. Graded $20's in MS62 and below are often available at melt or close to it, so if I wanted to stack classic gold I would go that route.
I have no problem melting junk double eagles that are holed, damaged, heavily worn, or harshly cleaned. Now that slabbed common date double eagles in MS61 or MS62 and sometimes even MS63 are selling at melt value or very close to melt value, I still don't think it makes sense to melt these coins when they can be marketed to gold investors as gold bullion produced by and guaranteed by the U S government. Most are over 100 years old or close to it which adds a coolness factor that many will find desirable.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@Jinx86 said:
Last low grade 20 I sold retail was Tuesday. So one a week. I take In way more than that. Sold for melt +35. They even got to pick it. Half hour transaction.
So are you just not selling low grade classic gold coins, or all gold in general?
Or, are your buyers getting bars, or are there just no buyers of anything?
@Jinx86 said:
Last low grade 20 I sold retail was Tuesday. So one a week. I take In way more than that. Sold for melt +35. They even got to pick it. Half hour transaction.
So are you just not selling low grade classic gold coins, or all gold in general?
Or, are your buyers getting bars, or are there just no buyers of anything?
Buyers have more interest in 999 gold. Mostly fractionals. Very little interest in world gold that's not 999. Right now with the current move up it's mostly been sellers, although regular buyers are still stacking.
I still don't think it makes sense to melt these coins when they can be marketed to gold investors as gold bullion produced by and guaranteed by the U S government. Most are over 100 years old or close to it which adds a coolness factor that many will find desirable.
There's still the counterfeit problem. What appears to be a hundred-year-old gold coin may be no such thing, even if the weight and fineness are correct. If the coin is cleaned or damaged it may be even harder to authenticate, or re-sell down the road. Who would want to stack these if slabbed MS62's are available at or near melt?
I still don't think it makes sense to melt these coins when they can be marketed to gold investors as gold bullion produced by and guaranteed by the U S government. Most are over 100 years old or close to it which adds a coolness factor that many will find desirable.
There's still the counterfeit problem. What appears to be a hundred-year-old gold coin may be no such thing, even if the weight and fineness are correct. If the coin is cleaned or damaged it may be even harder to authenticate, or re-sell down the road. Who would want to stack these if slabbed MS62's are available at or near melt?
Agree that slabbed gold is the way to go. Once the junk double eagles are melted, I assume they are converted to gold bars. Don't forget that gold bars are also heavily counterfeited.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@oldstandard said:
I was surprised they melted the Indians I still see junk $2,5 gold Indians selling for over $200 on Ebay but time is money also who knows kind of sad.
Melt value of a $2.5 Indian is about $182. Melting might be the most profitable option as it saves time and hassle, and avoids auction fees.
I would happily buy any and all genuine $2.5's for melt.
@Baley said:
It's really strange when you think about it:
"Oh, they shouldn't melt those cleaned, scratched, circulated common date twenties!"
Well, do you want to buy them then?
"Um, no, but..."
Right.
I would prefer the gold D. eagles over a bullion pour. Now, if Jinx has a willing buyer and there is a little profit (I can't imagine where) then it makes sense. Also if melting has more opportunity to sell than the original coins, then that makes logical sense.
When buying bullion the maxims are: Buy trusted bullion and bullion with known purity. D. Eagles satisfy both, poured bullion neither.
It is still so very cool to watch that gold turn to mush then disappear into a blazing orange liquid.
@MsMorrisine said:
I'm not sure why the refiner would pay more for a 90% slug over a 90% double eagle.
It's not even a 90% slug until it's been assayed by the refiner.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@oldstandard said:
I was surprised they melted the Indians I still see junk $2,5 gold Indians selling for over $200 on Ebay but time is money also who knows kind of sad.
Melt value of a $2.5 Indian is about $182. Melting might be the most profitable option as it saves time and hassle, and avoids auction fees.
I would happily buy any and all genuine $2.5's for melt.
@oldstandard said:
I was surprised they melted the Indians I still see junk $2,5 gold Indians selling for over $200 on Ebay but time is money also who knows kind of sad.
Melt value of a $2.5 Indian is about $182. Melting might be the most profitable option as it saves time and hassle, and avoids auction fees.
I would happily buy any and all genuine $2.5's for melt.
Yep I'd gladly take them too.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@oldstandard said:
I was surprised they melted the Indians I still see junk $2,5 gold Indians selling for over $200 on Ebay but time is money also who knows kind of sad.
Melt value of a $2.5 Indian is about $182. Melting might be the most profitable option as it saves time and hassle, and avoids auction fees.
I would happily buy any and all genuine $2.5's for melt.
@oldstandard said:
I was surprised they melted the Indians I still see junk $2,5 gold Indians selling for over $200 on Ebay but time is money also who knows kind of sad.
Melt value of a $2.5 Indian is about $182. Melting might be the most profitable option as it saves time and hassle, and avoids auction fees.
I would happily buy any and all genuine $2.5's for melt.
Yep I'd gladly take them too.
Same here
Collector 75 Positive BST transactions buying and selling with 45 members and counting! instagram.com/klnumismatics
Honestly, anything to me that has been damaged, cleaned, etc,(of course except key or earlier dates) or has a crummy grade that kills its numismatic value (MS60 ,61, 62)just makes it bullion, and thus, you can do as you please with it. With that said, I believe AU55s and 58s of common coins and all forms of early and key dates need to be preserved. Of course, anyone would be a fool who melted an 1835 half eagle of any grade, IMO.
@Jinx86 said:
Coworker took this Monday while I was working some platinum down.
Jewelry?
Broken, modern junk. Mostly bridal sets, sometimes I get vintage ladies watch cases, but always gutted of the movements.
Seems to me most dealers know that there is a market for vintage platinum items.
Curious as to what type of platinum jewelry you've seen before. Rings bracelets heavy chains? 950 pure, less/higher?
How can you tell between vintage and modern?
Any really memorable items come to mind ?
Also how are the premiums on items re-sold vs. what I would expect to get when selling.
(Forgive all the questions, just trying to get some education)
Thanks!
So far ive only saved three platinum pieces for my collection. A large mens ring with a massive red stone(lab ruby), it weighs just over an ounce of 950Pt and would have been made in the 1940-1950 area. Stunning art deco ring with 3 carats of diamonds, this one I picked out of silver scrap and credited the dealer for platinum. You can date this easily by how it was made and the marking on it of 10%Iridium/Platinum. Favorite item pulled so far has been an Audemars Piguet ladies platinum and diamond art deco watch. My wife wears it was jewelry and doesnt even wind it.
Comments
Right, and you could get 97% in about 2 minutes.
How long would you expect to own them if you insisted on holding out for 101%?
Liberty: Parent of Science & Industry
Last low grade 20 I sold retail was Tuesday. So one a week. I take In way more than that. Sold for melt +35. They even got to pick it. Half hour transaction.
I would never buy a junk $20 because of the counterfeit risk. Graded $20's in MS62 and below are often available at melt or close to it, so if I wanted to stack classic gold I would go that route.
My Adolph A. Weinman signature
I have no problem melting junk double eagles that are holed, damaged, heavily worn, or harshly cleaned. Now that slabbed common date double eagles in MS61 or MS62 and sometimes even MS63 are selling at melt value or very close to melt value, I still don't think it makes sense to melt these coins when they can be marketed to gold investors as gold bullion produced by and guaranteed by the U S government. Most are over 100 years old or close to it which adds a coolness factor that many will find desirable.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
When VF-XF classic gold approaches melt, I might start a fractional collection of Indians or Libertys. I've never owned either.
I knew it would happen.
.
Knowledge is the enemy of fear
So are you just not selling low grade classic gold coins, or all gold in general?
Or, are your buyers getting bars, or are there just no buyers of anything?
Knowledge is the enemy of fear
Buyers have more interest in 999 gold. Mostly fractionals. Very little interest in world gold that's not 999. Right now with the current move up it's mostly been sellers, although regular buyers are still stacking.
So your buyers are looking to spend a few hundred bucks. Not much of a market.
Who is the end consumer of your refiners?
Knowledge is the enemy of fear
Right back to us, we swap into market good products for our dealer network that we supply.
So you sell to refiner at 99.5%, then refiner sells back to you, and you then sell to other dealers?
With margins so thin this appears to be an "interesting" business model.
Knowledge is the enemy of fear
Makes me glad to not be one of the traders.
There's still the counterfeit problem. What appears to be a hundred-year-old gold coin may be no such thing, even if the weight and fineness are correct. If the coin is cleaned or damaged it may be even harder to authenticate, or re-sell down the road. Who would want to stack these if slabbed MS62's are available at or near melt?
My Adolph A. Weinman signature
Agree that slabbed gold is the way to go. Once the junk double eagles are melted, I assume they are converted to gold bars. Don't forget that gold bars are also heavily counterfeited.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I would happily buy any and all genuine $2.5's for melt.
Coworker took this Monday while I was working some platinum down.
I would prefer the gold D. eagles over a bullion pour. Now, if Jinx has a willing buyer and there is a little profit (I can't imagine where) then it makes sense. Also if melting has more opportunity to sell than the original coins, then that makes logical sense.
When buying bullion the maxims are: Buy trusted bullion and bullion with known purity. D. Eagles satisfy both, poured bullion neither.
It is still so very cool to watch that gold turn to mush then disappear into a blazing orange liquid.
I'm not sure why the refiner would pay more for a 90% slug over a 90% double eagle.
It's not even a 90% slug until it's been assayed by the refiner.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
No numis gold in this one...
Yep I'd gladly take them too.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Jewelry?
Broken, modern junk. Mostly bridal sets, sometimes I get vintage ladies watch cases, but always gutted of the movements.
Seems to me most dealers know that there is a market for vintage platinum items.
Same here
Collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
Honestly, anything to me that has been damaged, cleaned, etc,(of course except key or earlier dates) or has a crummy grade that kills its numismatic value (MS60 ,61, 62)just makes it bullion, and thus, you can do as you please with it. With that said, I believe AU55s and 58s of common coins and all forms of early and key dates need to be preserved. Of course, anyone would be a fool who melted an 1835 half eagle of any grade, IMO.
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Curious as to what type of platinum jewelry you've seen before. Rings bracelets heavy chains? 950 pure, less/higher?
How can you tell between vintage and modern?
Any really memorable items come to mind ?
Also how are the premiums on items re-sold vs. what I would expect to get when selling.
(Forgive all the questions, just trying to get some education)
Thanks!
It's all about what the people want...
So far ive only saved three platinum pieces for my collection. A large mens ring with a massive red stone(lab ruby), it weighs just over an ounce of 950Pt and would have been made in the 1940-1950 area. Stunning art deco ring with 3 carats of diamonds, this one I picked out of silver scrap and credited the dealer for platinum. You can date this easily by how it was made and the marking on it of 10%Iridium/Platinum. Favorite item pulled so far has been an Audemars Piguet ladies platinum and diamond art deco watch. My wife wears it was jewelry and doesnt even wind it.