gold coins

zayda

I am an ameteur so this question maybe stupid, but I ask anyway. If you have a proof gold coin (any kind) and a dealer offers the present gold price for it is this fair?

dan1ecu

Hello, Zayda –

Proof gold coins are selling for MANY times their weight in gold. Check out the Heritage auction archives: www.Heritage.com

Dan

Coulport

Sure it's fair. You just have to decide if you want to accept.
Now I'm going to get specific. If the coin is a gold eagle proof without box and paper, the dealer most likely will consider it no different than an unc coin. This in spite of the DCAM PF70 marked on the slab.

construct

I guess we can say it depends on the coin. Did he say why it was worth melt value?

relayer

It depends on the coin and the dealer.

If you talking about something like a 1987 US Constitution $5 proof and the dealer doens't deal with moderns, he may not have much interest in having it sit in his inventory for a year until somebody comes along and pays $20 more for it.

trozau

Any gold coin at melt price is a good buy even more so for proof. MOO

michael

it depends on the proof gold coin i need to know what it is and see it sight seen or at the very least more information

is it a damaged proof modern gold coin? is it a proof three dollar gold piece?

no question is stupid you only learn this way

it all depends on the demand of this proof gold coin and if the dealer has a market
and how bad you need the money and if the dealer has the money etc


remember coins are a thinly traded undercapitalized market

and it is all about marketing and timing

sincerely michael

michael

and how cheaply a knowledgable buyer can buy it from a willing ready to sell/trade uninformed seller who has good title and a sound mind at the time of the transaction

maybe this leaves all coin deals out???????.......................................lol


sincerely michael

zayda

To be specific let's say you have the American Eagle 1988 4 coin set. Would it be worth only the gold value or whatever? When I talk to these dealers I just don't know. Thanks

coinslinger

As a dealer that sells a lot of proof gold, I think you are getting a great deal if you are buying it at spot gold prices. I would think that you could immediately sell those for a pretty good profit on e-bay. Just my opinion.

Coin-slinger e-bay auctions

Alex Cyphers
E-bay seller name: coin-slinger
E-mail: coinslinger@msn.com
Phone: 303-733-6954 (9am-9pm MST)

RYK

I checked the CDN greysheet, which is the dealer wholesale prices from 1/31/03, the latest date of the publication that I have. It appears that the proof coins buy prices are at a premium to their gold value in all denominations. At that time, gold spot was $360/ounce, and the bid price for the set was $935. Two important caveats:
1. Gold is now much lower in price, roughly $325/ounce. The value of the set is probably lower as a result.
2. The greysheet is only a guideline. The actual buy price may be lower.

You might consider "googling" gold bullion to see who are the major national buyer/sellers are for gold bullion coins. Tulving.com is a dealer recommended here often. I have used American Gold Exchange in the past. Give one of these dealers a call and ask what they would pay for it.

Julian

If I were offered a 4 piece gold proof set in the original box and with the papers, I would pay at least $800., for it today. Hope this helps.

Steve27

zayda,

Your proof gold coins are worth much more than the spot price for gold. I recommend that you go to ebay and look under gold bullion coins to get a true estimate as to their worth.