Buying better date gold coins for profit?
logger7
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A local dealer offered these to me at 20% behind Greysheet. If you look at Coinfacts, a lot of major auctions go below Greysheet. You have to take into account auction fees, the extensive marketing and exposure that goes before the sales. One profit point would be a cac submission, if successful. Thoughts welcome.
Edited, thanks for the thoughts on this thread.
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Thought - I don’t think those images are any more helpful than a list of dates and grades would have been. But if those numbers on the yellow paper represent the asking prices, I’d buy the coins.😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
There no Santa Claus in numismatics ... and Santa is definitely not a coin dealer.
At 80% of Greysheet probably if the coins have good eye appeal, that would be advantageous, but have to look at them.
I never tried to play that game. I love my gold and I focus on buying slabbed at melt or below. Obviously common date MS64 and below bullion plays.
20% back of greysheet bid on better date stuff does sound intriguing. Personally I'd skip the cacs hype.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
For profit... how many dealers buy at gray-sheet -20% and make a profit? My guess is none.
These coins are early certification numbers. Unfortunately many higher value coins have been to cac already. A cac sticker makes a coin more marketable and cac makes strong offers for their coins.
It depends on what coins are involved. Some are burials at 80% and others are rips.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Though they often share his girth.
I have to wonder why he giving them away at that. Financial reasons or some problem with coin hurting it’s chance of sale so he wants dump off. Is he trying raise cash for an estate deal?
Those are 5 star keeper coins one is likely to be the only with one in the bourse room, hence good bet get solid retail. His action doesn’t make sense to me.
I want the 89cc $20 and 1909-s Indian.
I love that 1909s Indian and she certainly doesn't need a silly cacs sticker. Let me know if she's for sale.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
He does a lot of deals, is a school teacher, more of a hobby business for him. I told him he should do cac, he said that people have to learn how to grade and grow a pair, lol. I guess he doesn't understand the advantage of cac.
It could be the lighting, but those two smaller gold coins appear stripped.
In honor of the memory of Cpl. Michael E. Thompson
I tried to do an auction search which NGC usually provides when you plug in the certification numbers. No dice on that. My guess is these were in a collection for a while, same person. You wonder why a collector would have bought that group of coins probably in the early to mid 90s.
That sure is a fun group of dates.
I sure wouldn't mind opening up a box 20 years from now and finding those !
Do you feel you need a sticker on a slabbed coin to make a decision on a deal 20pct behind bid?? Are these c coins? Is this an all or nothing deal? At a recent show a 6th grader (I believe he is the son of a dealer) was flipping coins all over the place not a one of them CAC. He sold $8000 worth to a wholesaler setup next to me. I believe it was a raw HR Saint (wire rim). Not just coins either - he was trading Banknote around too. Did some deals with me.
The 87-o dollar just bids $120. Take it at his $96 offer price. It’s a real blazer! The 09-s $10 bids 3700 / 4200 CAC looks nice! The 83-cc $20 went for 3240 at HA recently what is his price on it? CPG (possible sell target) on it about $4400.
I don’t disagree one can get more with a CAC coin but you have to find that buyer willing to ante up more. If the coin really PQ chances good.
Wonder where he picked them up can offer so cheap?
@Cougar1978 Numismedia and CPG both list higher values for CAC-ed coins. You have to be a paying member to
see the numismedia values. I saw one study where a CAC sticker increased values by an average of about 14%.
How old was this 6th grader? Most adults would't know how to flip coins like him. Who keeps the loot? Lol
I like the little Missy 1870 and would buy at 20% under
I get CPG for free on my phone app. From that I can extrude wholesale. I take CDN which has GS and BS though. From that I can extrude retail.
What a PG lists for values does not always mean getting that in a real game - bourse floor. YMMV. I would not pay premium on CAC (or any) coin unless I truly wanted it, thought it definitely PQ (met my standards), something high demand could move quickly. As far as what the PG people list - Some times I might tell them - Send it to the PG people if they will send u a check. I have done well buying / selling CAC some moved in a week some not / tough to predict.
The 6th grader works with an area major National firm (they run radio and TV ads, huge inventory, really nice shop) and I believe he is the son of the owner. Very sharp decisive wheeler dealer, and knows much more than a lot of adults. He was making big time deals all over the place. Bright future for him.
The sixth grader has learned from his dealer father ... think like a dealer ... buy like a dealer ... sell like a dealer.