@pcgscacgold said:
When gold crossed $3500 I took a couple generic Eagles in PCGS holders to a "Cash for gold" place. Not to sell, just to see what those places actually do. They offered 20% back of melt for the two P62's. I asked what they do with them and was told they go straight to the refinery to be melted. Higher gold prices will cause a decrease in available coins. I am sure many places do the same thing.
20% in back of melt is brutal! Hope you learned enough not to return for a skinning!
As I mentioned it was to see what they do to people. I had always wondered. My plan all along was to take them to Central States. A dealer there gave me melt + 5%. That was very fair as they were commons.
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As I mentioned it was to see what they do to people. I had always wondered. My plan all along was to take them to Central States. A dealer there gave me melt + 5%. That was very fair as they were commons.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Wow....destruction of historical numismatics at 80% of spot gold.
You wonder what 'historical numismatics' are in some of the coins being melted this go-around.