I averaged my last 90 days of sales of US Gold and Silver and compared it to spot. Startling.
Azurescens
Posts: 2,665 ✭✭✭✭✭
Well, this was an eye-opening experience. I recommend everyone do similar.
As the title says I calculated my last few months of sales on all my accounts. Here are the numbers I've found most interesting.
Pre 33 Gold Face Value:
Included in this bracket are low to mid range, some cleaned gold, a few one-off gemmy types but not really. No jewelry pieces. Fairly average and balanced each other out, no keys. The amount of slightly over vs sold slightly under is well balanced in this group. $2175 per G$15 Face, or $145/G$1.
($1 FV Gold is $90 when gold is at 1850.)
Quarter eagles, low MS and high AU, but no garbage and all straight grades: $5215 per $32.5 face, or $160/G$1
Some genuine or raw $5 averaged $3625 per G$25, or $142 per G$1.
Or for the whole group, $11,015 per $72.50 Gold Face, or $151.93/G$1.
I also achieved $150 G$1 Face Value when I averaged some raw, semi-regular halfway decent $5 gold over the past 180 days.
I didn't include collector gold, or beans, or anything too far out of variance.
I don't sell enough big gold for any meaningful trends to stand out, so I left it alone.
Silver 90% Face Value
When I say junk I mean junk. This averaged a silver value of $25/oz (not face) for garbage 90%. This includes culls, AG/G type stuff, but does NOT include 40%.
I sold some FV silver below spot but left those numbers in. I can realistically expect the true price of silver to be higher than at least $25/oz.
Mid grade XF/AU+ straight grades averaged $28/oz. These are fairly conservative numbers, as I was in some 90% super good and didnt mind getting a couple dozen people in the hobby, so those 72 sales or whatever really tanked the number.
Anything else on up, all inclusive category of the rest: $31.33 per ounce, which includes BU and UNC rolls or original surfaces, but does not include proof rolls or OBW etc.
Which is right about where generic rounds fell, at $32.13/oz
Raw Eagles, Maples, Libertads averaged almost $36/oz. This category includes raw proofs heavy on the eagle and maple side. Oddly enough, is right around where proof and unc half dollars fell, along with proof quarters (but not unc WQ which fell closer to generics, along with all dimes).
Slabbed Premium Silver (maples eagles libertads) clocked in at $66.87/oz.
This category is proof coins, west point silver eagles, fairly collectible run of the mill stuff but nothing fancy. Proof Rand fall into this category. More sub PF70/PR70 than perfect examples. I don't own or sell enough pandas and I didn't include modern commemorative collector pieces since those would just skyrocket my numbers and make them useless.
^ The last 2 months of MS70 eagles brought this number down super hard.
$5 AGE
I averaged 49qty PCGS/NGC 1/10oz BU American Gold Eagles with misc raw proofs which came to approximately $2750/oz gold.
As I said, this was an eye opening experience for me. I suggest you do the same for a better idea on the real price of gold and silver. I'm sure this will vary dealer to dealer and I'm just a hobbyist. I can only imagine these numbers are higher for professionals or established Ebay sellers.
Honestly? It looks like anything based off manipulated market prices is a buy, and selling at those prices is leaving money on the table.
Comments
Interesting summary.... Certainly hard gold/silver will sell above the spot/paper prices....and a rising market always helps... Thanks for the information. Cheers, RickO
Anything based off spot price is just as big a buy now as ever before.
@Azurescens said:
I calculated my last few months of sales on all my accounts. Here are the numbers I've found most interesting.
As of 20 Feb 2021, this number is floating around $2400-$3000. Quality is starting to matter a little more as metals squeeze and I would've thought the opposite.
$1 junk gold coins are the price quarter eagles were six to ten months ago.
Can't find these sub 400 anymore.
No updates on this number sorry.
Or this one.
Morgan melt is $21, Ebay asking price for half-okay ones is $40. Remember a year ago when they weren't even 20?
This is interesting because I thought this would be higher now.
Slabbed maples $75, eagles $50-$200, libertads on the moon. We are quickly closing in on $50 govt issued silver. Engelhard is already there.
No update here but it seems this stayed relatively static.
This is why I said silver was a buy last year and gold was a hold.
Been a year and you can still buy almost anything, auction it for 99 cents and make money. These markets are hot. We will continue to get richer.
The play continues to be on low denomination and fractional silver.
Thank you. That was a detailed and good read. Yes Libertads to the moon, interestingly.
I stopped my by brick and mortar yesterday and he is in a great mood, busy with buying and selling.
He had a very esoteric group of gold, some of which I was interested in.
Now subtract all your ebay and paypal fees, free shipping, packaging costs etc. and watch those phenomenal premiums become not so phenomenal. RGDS!
The whole worlds off its rocker, buy Gold™.
Lots of information, can you summarize it into one sentence?
Then, divide the results by how many hours you worked on it. 😉
Liberty: Parent of Science & Industry
And then multiply it by 2 for your passion and love of the sport!