Bunch of generics.........should I buy them??

Bustman

I have the opportunity to purchase 15- 20 assorted saints in old NGC 63, and and handful of 1904 libs in old PCGS 63 holders that I can cherry pick at slightly below bid. The ones that I picked are all real nice for the grade. Does anyone here have any experience selling generics on eBay? Do they sell?

mbbiker

If it's gold it will sell. PCGS gold even better

Monstavet

Good time to buy gold, even generics, if the bullion witchdoctors are correct, it is heading up up up!

ah

Gold should sell without a problem, buy!

BillJones

All I ever hear is DON'T BUY GENERICS. I totally disagree with that when it comes to properly graded gold coins, except for the St. Gaudens $20 gold pieces. You have to careful of the $20 gold pieces because of the low mark-ups and tie-ins to the gold bullion prices.

RYK

The collector in me says, "Don't buy the generics!". The common Saints and 1904 Libs are all over the place. Every non-specialist dealer has a pile of 1904 Libs.

The speculator in me says, "If gold spikes, I will be sorry that I did not buy the generics!" I guess it comes down to wheher you think that gold prices will run again or not.

I have recently sold off most of my generic gold. I continue to put away GAEs and other gold bullion. I think that it may all come down to price. If you are getting the coins at below bid and can get a few upgrades, it may be worth your while. That said, I have been following the auctions of duvallgold (Duane Mock- a great guy and pleasure to deal with). He sells a lot of generic and semi-key date gold on ebay, and his prices seem to have softened significantly over the last few weeks.

I guess I really do not have a clear answer to the question. I personally have moved away from the generics.

Bustman

Thanks for the advice everyone. Im thinking that between the older holders and the fact that I am able to cherry pick them, it may be worth it.

ANACONDA

Hey Bustman!

They sell if you do it right.. I think the best way to sell them is to take good pics, start the auction on a thursday night and have it end on a
Sunday night, 10 days later. Consider featuring the auction (an extra $19.99) if the coins are PQ and worth more than $300. Give a no
questions asked return privilege.

You've got a good chance of getting greysheet ask, maybe even 10% over that.

Bustman

Adrian,
Thanks. I will most likely buy the ones I picked, now I am trying to decide if I want to buy more. The guy had 50- 70 of them. All NGC 63 old holder saints. The more I buy the cheaper they are, just not sure if its worth the hassle.