2016 24kt gold centennial set-would you buy?
Ppp
Posts: 517 ✭✭✭✭
I have an opportunity to buy the 2016 24 kt gold centennial set for $2,050-
The set includes:
0.10toz Mercury dime, .
0.25 toz standing liberty quarter, and
0.5 toz walking liberty half.
Total gold content is 0.85 toz at today’s value about $1,580-
I mostly deal in gold eagles, so even thou this set is beautiful, my gut is saying the premium being asked is too high. It would be nice to have but I think there is no numismatic value in this set to pay such a premium. Am I wrong?
Any thoughts?
Thank you in advance.
0
Comments
Seems a bit high, not sure of collector interest, that could be a contributing factor. Cheers, RickO
APMEX has sold 28 of the Walkers for just under 1600 on eBay so your set seems a fair price in today’s market
Interesting that you brought that up. I have that set in OGP and I've been contemplating selling as the price of gold is inching back up. It's hard to know what the real "demand" is for these pieces, though. Not sure how much premium one should account for above the actual gold weight.
When you are buying bullion, buy bullion. Buy the most marketable pieces at the lowest cost available. The flippers have finished with the issues you mention and moved on. The market seems to have moved on as well.
MS70 walking liberty's go for $1700 and only 1/2 oz of gold so there's definitely a premium. I just bought one in the OGP for $1225 which seemed like a good deal.
If you like the coins it is worth it - these sets are not worth a lot over spot but at some point the spot price will be well over 2000 for those coins
Is it slabbed or raw?
I don't have the walking liberty but have slabs of the Standing ($540) in SP 69 and mercury dime ($300) in SP 70 that I picked up when gold price was US$1,950 per ounce . Just wanted it as an addition to my completed sets
Make the comparisons as it suits best for you because if I did not have the above two, would have tried bargaining it down a bit for what I assume is a raw set that you have mentioned.
Cheers.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
I think it comes down to how much you personally like the set. If you're buying the set to display, enjoy and keep it for years I don't think the premium is an issue. I also think some of that premium will be dealt with as gold appreciates in value.
Vulcanize: they are raw in GGP with COA
Thank you everyone for your objective comments and insight. I decided against buying them.
This set would be nice to have but I don’t need it for my collection. If I needed the set or really wanted the set then the premium would be less of an issue.
I will just use the money to help buy 500 pre-1964 half’s that I was just offered. Now those will be fun searching through. 😃
Just so you know, the Walking Liberty Centennial gold coin was first offered in 2016 at $865.
The final mintage per PCGS is 65,512. https://www.pcgs.com/coinfacts/coin/2016-w-50c-100th-anniversary-gold/598604
And they are still selling on ebay https://www.ebay.com/sch/i.html?_from=R40&_nkw=2016+walking+liberty+gold+centennial+gold+coin&_sacat=0&rt=nc&LH_Sold=1&LH_Complete=1
I have one put away that looks to be perfect, it is a most beautiful coin! Not for sale, I like it too much.
I agree Golden, I still have one in a sealed box, of course! I can imagine it still looks mighty fine. Thank you for posting the eBay sales I didn’t realize they had gotten to that price. Good to see.