Warning, double post.
Every gold bullion piece I sell to my dealer, including eagles and Buffalo’s, go to the refiner, that is his prerogative.
C’est la vie. That’s why it’s called bullion. If you are a paying Mint premiums, you’re already starting in the hole. With few exceptions.
Like 2006-2008, for example. The salad years.
I don’t pay numismatic premiums on Bullion coins unless I plan on keeping them.
Like the Palladium Eagles.
@2manycoins2fewfunds said:
The impact from melting can have a significant impact on some of these moderns as total populations are low typically 5,000 or less.
This discussion relates only to modern non classic coins and only those MS/PR69 or lower.
Just for fun look at SOLD/COMPLETED auctions on Ebay for "spouse $10 gold -70"
A lot go for well under spot when fees are considered..............
Even 10 of something that 5 people want is a supply gut.
Look at the classic commems that have mintages of 3000
@291fifth said:
The demand for many recent or very common date older gold coins from actual collectors is probably very low right now. Coins that fall into this group are likely to be looked at in the same way as most gold jewelry purchases ... get them to the smelter fast and avoid the risk of a drop in the bullion price. If the dealer buying this type of material does not have sufficient demand from "stackers" it is off to the refinery they go.
Maybe the reduced supply will create actual numismatic premiums in the future.
This will only be so if collector demand is there. We all know even if there is only 5 of something with no demand the price stays flat. It all starts with demand.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
If anyone put their stimulus check into gold as soon as received, can anyone tell me the ROI or percentage gain to date ? I'm always a proponent of holding the four Gs. ... long before 5G ever came along. Everyone should have gold. Could have bought 6 tenth ounce eagles , or thereabouts. Melt ? Really ?
Hold, sell, melt - whatever. I tend to just watch the PM market for bullion value....My 'special' gold or silver coins - those with numismatic value, are not part of my 'stack'....I do not sell coins - though in the past (and maybe future) I have sold gold coins (Britannia's) when looking at other investments. Gold is good for that...and liquid in time of need. Cheers, RickO
So, let me get this straight: Gold has been sitting in the 1700s for months. It breaches 1800 which is a grand total of 5% higher and suddenly everyone wants to melt.
Both premises of the OP are ludicrous:
1. There is no greater interest in melting today than there was on January 1st.
2. The least popular form of U.S. gold with low mintages is statistically unlikely to hit the melting pot. If it did, it remains the least popular form of U.S. gold.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
Yeah, just look at them....
LOL.
Personally, I think they are as good a source of gold as any other. But there's just no collector base. Oddly, people are more likely to collect coins of identical designs by date than this series with different designs.
I'll give you a good reason to favor these as bullion: I haven't seen a counterfeit yet.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
By all rights these should not be melted but yet some have been. If not melted, some of the more common ones have been mishandled. The conventional wisdom in in the early days of the spouse program said these would never get bid as collectable. A few years later they were one the hottest modern series.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
Absolutely true at melting temperature.
I do appreciate your passion for an absolutely deceased series of unattractive gold.
Mitch, years ago, also tried his best to support a collector base where none exists. Mostly with his own money, bless his heart.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
Absolutely true at melting temperature.
I do appreciate your passion for an absolutely deceased series of unattractive gold.
Mitch, years ago, also tried his best to support a collector base where none exists. Mostly with his own money, bless his heart.
Again, I'd just point out that the spouses were trashed and neglected before they took off. But take off they did.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By hot I mean they were hot in the market, around 2009-2011. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By hot I mean they were hot in the market, 2011-2012. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
A lot of mint products are hot early on after their release due to novelty and speculation that the issue or series might be a long-term winner. Once that fades, it's very rare that significant interest returns later on.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By hot I mean they were hot in the market, 2011-2012. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
A lot of mint products are hot early on after their release due to novelty and speculation that the issue or series might be a long-term winner. Once that fades, it's very rare that significant interest returns later on.
The 2009 UHR has done it twice since it went off sale. The '95-W ASE and the '89-'91 $25 AGE's are other examples.
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By hot I mean they were hot in the market, 2011-2012. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
A lot of mint products are hot early on after their release due to novelty and speculation that the issue or series might be a long-term winner. Once that fades, it's very rare that significant interest returns later on.
The 2009 UHR has done it twice since it went off sale. The '95-W ASE and the '89-'91 $25 AGE's are other examples.
OK, now divide by the number of issues that never did, and I think "very rare" is a fair assessment. You also have to factor in that the 2009 UHR and 95-W ASE have a certain cachet that the Spouse series never has or likely will. But it's your money, speculate as you please.
No argument there. To say that it's a long shot that spouse interest will return is accurate; to say there's no chance isn't. Buying the issues that are melt candidates is/was a no brainer. The inherent challenge in completing a set (no matter how ugly they are) could be these coins' potential.
@92vette said:
No argument there. To say that it's a long shot that spouse interest will return is accurate; to say there's no chance isn't. Buying the issues that are melt candidates is/was a no brainer. The inherent challenge in completing a set (no matter how ugly they are) could be these coins' potential.
The number (and cost) of issues, coupled with the obscurity of most of them, argues against many people attempting to collect the entire set of Spouses. And did I mention that most collectors don't find the designs attractive, in general? Long shot understates it a bit, in my view. YMMV.
With the many attractive Options available as a collector at near spot to sink your money, why in good judgment would you choose to complete the spouse series??
That is a gamble with ugly. I hope you can keep both arms in the morning.
@92vette said:
No argument there. To say that it's a long shot that spouse interest will return is accurate; to say there's no chance isn't. Buying the issues that are melt candidates is/was a no brainer. The inherent challenge in completing a set (no matter how ugly they are) could be these coins' potential.
The number (and cost) of issues, coupled with the obscurity of most of them, argues against many people attempting to collect the entire set of Spouses. And did I mention that most collectors don't find the designs attractive, in general? Long shot understates it a bit, in my view. YMMV.
I don't disagree but all of these arguments were being made at the start of the program and a few years later many of these issues were trading at 2 to 2.5 times spot. It didn't take much interest to move the market.
BTW Mitch where you at. This spouse torch is getting heavy and I'm having trouble bearing it myself lol.
@92vette said:
No argument there. To say that it's a long shot that spouse interest will return is accurate; to say there's no chance isn't. Buying the issues that are melt candidates is/was a no brainer. The inherent challenge in completing a set (no matter how ugly they are) could be these coins' potential.
The number (and cost) of issues, coupled with the obscurity of most of them, argues against many people attempting to collect the entire set of Spouses. And did I mention that most collectors don't find the designs attractive, in general? Long shot understates it a bit, in my view. YMMV.
I don't disagree but all of these arguments were being made at the start of the program and a few years later many of these issues were trading at 2 to 2.5 times spot. It didn't take much interest to move the market.
BTW Mitch where you at. This spouse torch is getting heavy and I'm having trouble bearing it myself lol.
Tulip bulbs were white hot for about a year there in 1636. So I'm sayin' there's a chance!
@92vette said:
There's no reason to believe the spouses won't get hot again eventually.
There's also no reason to believe the spouses will ever get hot.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By hot I mean they were hot in the market, around 2009-2011. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
I was around. I think "hot" overstates it. But, it was very short-lived.
I think they melt low grade damaged gold or modern gold worth melt because the big shots who buy gold want those big ass bars. I mean who wants thousands of spouses ( who really wants one 😉) . When you see those pictures in vaults there are stacks of bars.
@JimTyler said:
I think they melt low grade damaged gold or modern gold worth melt because the big shots who buy gold want those big ass bars. I mean who wants thousands of spouses ( who really wants one 😉) . When you see those pictures in vaults there are stacks of bars.
You can't just melt most of it - unless you want 0.900 fine gold bars. The reason they DON'T generally melt it is the cost of purifying it to 24k. You could melt the Buffalos or the spouses, but most modern gold commems have been 0.900 fine until very recently.
So, let me get this straight: Gold has been sitting in the 1700s for months. It breaches 1800 which is a grand total of 5% higher and suddenly everyone wants to melt.
I think the "everyone wants to melt" part of this might be an exxageration, but the $1,800 part does make sense. I know many of my old boss' customers had a "number" that they'd dump at when reached. my boss had his number for Silver a few years back when it was lingering around $16 and he'd done the same thing earlier, around 2014. when his number gets reached he locks in and sells. with the Silver it was any non-bullion that was in the store, flatware and other Sterling along with any junk bullion that wasn't moving.
You can't just melt most of it - unless you want 0.900 fine gold bars.
the refiners "refine" everything to .999, it's what they do.
@keets said: So, let me get this straight: Gold has been sitting in the 1700s for months. It breaches 1800 which is a grand total of 5% higher and suddenly everyone wants to melt.
I think the "everyone wants to melt" part of this might be an exxageration, but the $1,800 part does make sense. I know many of my old boss' customers had a "number" that they'd dump at when reached. my boss had his number for Silver a few years back when it was lingering around $16 and he'd done the same thing earlier, around 2014. when his number gets reached he locks in and sells. with the Silver it was any non-bullion that was in the store, flatware and other Sterling along with any junk bullion that wasn't moving.
You can't just melt most of it - unless you want 0.900 fine gold bars.
the refiners "refine" everything to .999, it's what they do.
I know. But refining isn't free. You're only going to do it if you can't sell it as it is or need more 24k. It's really not that common.
I've always wondered why worn out junk 90% sells at a premium and modern proof 90% state quarters and the like can be bought at a discount. Seems to me I can get more silver for the dollar on the modern 90%. Now even worn out Barbers are selling at around 14X, and there is about an 8% loss in weight on the FR-AG dimes.
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
Successful, problem free and pleasant transactions with: illini420, coinguy1, weather11am,wayneherndon,wondercoin,Topdollarpaid,Julian, bishdigg,seateddime, peicesofme,ajia,CoinRaritiesOnline,savoyspecial,Boom, TorinoCobra71, ModernCoinMart, WTCG, slinc, Patches, Gerard, pocketpiececommems, BigJohnD, RickMilauskas, mirabella, Smittys, LeeG, TomB, DeusExMachina, tydye
1/7/11 greysheet bids spot gold basis $1378.50. Prices ranged from $815 for A Harrison PR to $1200 for J Tyler unc.
7/8/11 greysheet bids spot gold basis $1512.30. Prices ranged from $1225 for S polk PR to $1950 for J Tyler unc with 08 liberty unc spouses at $1625 and $1725. Twenty different coins above $1200. These bids were for raw coins and held until august '11.
@92vette said:
1/7/11 greysheet bids spot gold basis $1378.50. Prices ranged from $815 for A Harrison PR to $1200 for J Tyler unc.
7/8/11 greysheet bids spot gold basis $1512.30. Prices ranged from $1225 for S polk PR to $1950 for J Tyler unc with 08 liberty unc spouses at $1625 and $1725. Twenty different coins above $1200. These bids were for raw coins and held until august '11.
Short lived spike like that looks more like a promotional buy by a marketing group than collector interest. In a thin market, if one of the TV guys put out a buy for a couple hundred coins, that's what you'd see happen.
Hey fellows... don’t look now, but a spouse coin in 70FS is selling at auction tonight for what might well be a World record price for the issue. Anyone else see it? Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@wondercoin said:
Hey fellows... don’t look now, but a spouse coin in 70FS is selling at auction tonight for what might well be a World record price for the issue. Anyone else see it? Wondercoin.
Gee. I wonder who the consignor is.
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
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 was following it throughout the week, but placed no bid. The coin is selling too high now for me personally to bid. It is nice to see though and whoever the consignor is will be very happy with the result I am sure. When the auction is over, I will discuss the coin. If anyone wants to know about it now, just send me a PM.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Comments
Warning, double post.
Every gold bullion piece I sell to my dealer, including eagles and Buffalo’s, go to the refiner, that is his prerogative.
C’est la vie. That’s why it’s called bullion. If you are a paying Mint premiums, you’re already starting in the hole. With few exceptions.
Like 2006-2008, for example. The salad years.
I don’t pay numismatic premiums on Bullion coins unless I plan on keeping them.
Like the Palladium Eagles.
Especially when they are 0.999
Even 10 of something that 5 people want is a supply gut.
Look at the classic commems that have mintages of 3000
This will only be so if collector demand is there. We all know even if there is only 5 of something with no demand the price stays flat. It all starts with demand.
If anyone put their stimulus check into gold as soon as received, can anyone tell me the ROI or percentage gain to date ? I'm always a proponent of holding the four Gs. ... long before 5G ever came along. Everyone should have gold. Could have bought 6 tenth ounce eagles , or thereabouts. Melt ? Really ?
``https://ebay.us/m/KxolR5
Hold, sell, melt - whatever. I tend to just watch the PM market for bullion value....My 'special' gold or silver coins - those with numismatic value, are not part of my 'stack'....I do not sell coins - though in the past (and maybe future) I have sold gold coins (Britannia's) when looking at other investments. Gold is good for that...and liquid in time of need. Cheers, RickO
There's no reason to believe the spouses won't get hot again eventually.
Anybody wanna sell me their Jackie Kennedy at 97% of spot? I promise I will not melt it.
There's also no reason to believe the spouses will ever get hot.
I'll buy any gold in any form at 97% of spot. That is sub-wholesale.
Yeah, just look at them....
So, let me get this straight: Gold has been sitting in the 1700s for months. It breaches 1800 which is a grand total of 5% higher and suddenly everyone wants to melt.
Both premises of the OP are ludicrous:
1. There is no greater interest in melting today than there was on January 1st.
2. The least popular form of U.S. gold with low mintages is statistically unlikely to hit the melting pot. If it did, it remains the least popular form of U.S. gold.
They've been hot before, and some series have a way of being rediscovered in this way. Their mintages and the melt factor may serve as an enducement to collect in itself.
LOL.
Personally, I think they are as good a source of gold as any other. But there's just no collector base. Oddly, people are more likely to collect coins of identical designs by date than this series with different designs.
I'll give you a good reason to favor these as bullion: I haven't seen a counterfeit yet.
My point - why do people insist I always use the maximum number of words - is that there is no reason that the coins have to do anything. They need not get hot. Not ever. They can't actually get colder, since they are straight bullion already. But there is absolutely no reason to think they will get hot, not ever.
And this series was "hot" for the first year - if you can call less than 20,000 U.S. gold coins "hot".
Here's your first 2 years:
2007 Martha Washington 17,661
2007 Abigail Adams 17,142
2007 Jefferson's Liberty 19,823
2007 Dolley Madison 12,340
2008 Elizabeth Monroe* 4,462
2008 Louisa Adams 3,885
2008 Jackson's Liberty 4,609
2008 Van Buren's Liberty 3,826
Nothing about that screams "hot"
By all rights these should not be melted but yet some have been. If not melted, some of the more common ones have been mishandled. The conventional wisdom in in the early days of the spouse program said these would never get bid as collectable. A few years later they were one the hottest modern series.
Baht gold is 24k. The Chinese love baht. There's a million reasons to reshape Spouse coins.
``https://ebay.us/m/KxolR5
Absolutely true at melting temperature.
I do appreciate your passion for an absolutely deceased series of unattractive gold.
Mitch, years ago, also tried his best to support a collector base where none exists. Mostly with his own money, bless his heart.
there is a person on BST looking for a first spouse gold coin
Again, I'd just point out that the spouses were trashed and neglected before they took off. But take off they did.
Here ya go, lower mintage and still worth spot for the future:
2020 1 oz Gold Dragon Proof Coin with Box And Certificate of Authenticity
Only 188 Made
https://www.images-apmex.com/images/products/2020-australia-1-oz-gold-dragon-proof-w-box-coa_214942_rev.jpg?v=20200624011345&width=560&height=560
By hot I mean they were hot in the market, around 2009-2011. Julia tyler, letetia tyler, polk, Jackson, van buren. I guess you weren't around for that.
A lot of mint products are hot early on after their release due to novelty and speculation that the issue or series might be a long-term winner. Once that fades, it's very rare that significant interest returns later on.
The 2009 UHR has done it twice since it went off sale. The '95-W ASE and the '89-'91 $25 AGE's are other examples.
OK, now divide by the number of issues that never did, and I think "very rare" is a fair assessment. You also have to factor in that the 2009 UHR and 95-W ASE have a certain cachet that the Spouse series never has or likely will. But it's your money, speculate as you please.
No argument there. To say that it's a long shot that spouse interest will return is accurate; to say there's no chance isn't. Buying the issues that are melt candidates is/was a no brainer. The inherent challenge in completing a set (no matter how ugly they are) could be these coins' potential.
The number (and cost) of issues, coupled with the obscurity of most of them, argues against many people attempting to collect the entire set of Spouses. And did I mention that most collectors don't find the designs attractive, in general? Long shot understates it a bit, in my view. YMMV.
With the many attractive Options available as a collector at near spot to sink your money, why in good judgment would you choose to complete the spouse series??
That is a gamble with ugly. I hope you can keep both arms in the morning.
I don't disagree but all of these arguments were being made at the start of the program and a few years later many of these issues were trading at 2 to 2.5 times spot. It didn't take much interest to move the market.
BTW Mitch where you at. This spouse torch is getting heavy and I'm having trouble bearing it myself lol.
You are a good man to carry the torch without a relay, so far.
Tulip bulbs were white hot for about a year there in 1636. So I'm sayin' there's a chance!
I was around. I think "hot" overstates it. But, it was very short-lived.
"US coin forum"?
Maybe they should change the name to the "Parse and debate the definitions and meanings of common words" forum
Liberty: Parent of Science & Industry
I like the Spouses face down, and I only concentrate on the reverses, which are quite nice designs overall as a complete set.
And if anyone has a PCGS MS or PR70 FS of Louisa, I will pay 25% above melt for her.
My US Mint Commemorative Medal Set
someone just sold a 2002 salt lake gold comm gold coin for 330 just 2 days ago with all the packaging, i don't search for modern coins, otherwise i would of bought it
https://www.ebay.com/itm/Salt-lake-2002-olympic-GOLD/283935118608?hash=item421bda1510:g:XZkAAOSwjG5eVDAg
I think they melt low grade damaged gold or modern gold worth melt because the big shots who buy gold want those big ass bars. I mean who wants thousands of spouses ( who really wants one 😉) . When you see those pictures in vaults there are stacks of bars.
You can't just melt most of it - unless you want 0.900 fine gold bars. The reason they DON'T generally melt it is the cost of purifying it to 24k. You could melt the Buffalos or the spouses, but most modern gold commems have been 0.900 fine until very recently.
So, let me get this straight: Gold has been sitting in the 1700s for months. It breaches 1800 which is a grand total of 5% higher and suddenly everyone wants to melt.
I think the "everyone wants to melt" part of this might be an exxageration, but the $1,800 part does make sense. I know many of my old boss' customers had a "number" that they'd dump at when reached. my boss had his number for Silver a few years back when it was lingering around $16 and he'd done the same thing earlier, around 2014. when his number gets reached he locks in and sells. with the Silver it was any non-bullion that was in the store, flatware and other Sterling along with any junk bullion that wasn't moving.
You can't just melt most of it - unless you want 0.900 fine gold bars.
the refiners "refine" everything to .999, it's what they do.
I know. But refining isn't free. You're only going to do it if you can't sell it as it is or need more 24k. It's really not that common.
I've always wondered why worn out junk 90% sells at a premium and modern proof 90% state quarters and the like can be bought at a discount. Seems to me I can get more silver for the dollar on the modern 90%. Now even worn out Barbers are selling at around 14X, and there is about an 8% loss in weight on the FR-AG dimes.
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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1/7/11 greysheet bids spot gold basis $1378.50. Prices ranged from $815 for A Harrison PR to $1200 for J Tyler unc.
7/8/11 greysheet bids spot gold basis $1512.30. Prices ranged from $1225 for S polk PR to $1950 for J Tyler unc with 08 liberty unc spouses at $1625 and $1725. Twenty different coins above $1200. These bids were for raw coins and held until august '11.
Short lived spike like that looks more like a promotional buy by a marketing group than collector interest. In a thin market, if one of the TV guys put out a buy for a couple hundred coins, that's what you'd see happen.
Which presidents were you quoting?
"Got a flaming heart, can't get my fill"
Hey fellows... don’t look now, but a spouse coin in 70FS is selling at auction tonight for what might well be a World record price for the issue. Anyone else see it? Wondercoin.
“Mitch, years ago, also tried his best to support a collector base where none exists. Mostly with his own money, bless his heart.”
The collector base did exist. IT WAS ME. 😂
Justin is circling around like a vulture to pick up the dead carcasses and get them out on eBay now that gold has hit $1,800! 🤣
Wondercoin
Gee. I wonder who the consignor is.
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
PerryHall... not me.
Wondercoin
Edited to add... I will give one hint though... the coin is fetching over $7,100.00 an Oz! And, it ain’t over yet!
I assume you'll at least be bidding on it.
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 was following it throughout the week, but placed no bid. The coin is selling too high now for me personally to bid. It is nice to see though and whoever the consignor is will be very happy with the result I am sure. When the auction is over, I will discuss the coin. If anyone wants to know about it now, just send me a PM.
Wondercoin
I was bidding on that spouse, but it is like Tesla, it just keeps going up. Spouse short squeeze.
My US Mint Commemorative Medal Set