Gold skyrockets to $26,000 an ounce!!!!

Russ

The gold bugs were right! The sky is the limit!

Russ, NCNE

jom

The coin is SO perfect they couldn't show a picture! Taking a picture could actually ruin the perfection. I'm in awe!

jom

topstuf

An we're gonta have a liddle place all our own.

AND

You can tend the rabbits.

Just look over there.....you can almost see it.

baccaruda

Russ - I think they're paying $400 per ounce for the gold, and about $800 per ounce for the plastic.

nankraut

PTOOOOEY!

jeffnpcb

Like I tell my two boys! You're killing me, you're killing me! Should I start with an opening bid!

wondercoin

Could it have been my enhanced scan of the coin? Nah - no scan at all for that matter.

Could it have been my high opening bid, catching a "big uneducated
fish" - Nah - $5 opening bid with no reserve at all.

And, at least 21 DIFFERENT bidders in the first 2 days of the auction.

So, why $26,000/oz gold?

As with much of the modern stuff, until one actually trys to slab these spectacular coins, one really doesn't get an appreciation of the rarity of CERTAIN modern coins.

Sidenote - I sold a 1986 $50 Proof Gold in Eagle in PCGS-PR70DCAM the other day (around pop 6 or so). I had noticed that the total PCGS pop on the coin was closing in on 3,000 coins with just a half dozen achieving perfection. I pulled my calculator out and determined it would have cost around $1,500,000.00 in gold and grading fees for one slab those (6) perfect coins. Should they be worth thouands of dollars when one in a capsule that is not perfect is only worth around $600? Who knows, but, it was fascinating to consider that the out of pocket cost to make 6/close to 3000 submissions PR70 approached $1,500,000.00!!!

Come visit the Registry Forum - this ebay coin is also discussed over there.

Wondercoin

Newton

Who knows, but, it was fascinating to consider that the out of pocket cost to make 6/close to 3000 submissions PR70 approached $1,500,000.00!!!

I can't be sure this is true, but someone once told me that, the more submissions, the greater the percentage of PR70s PCGS gives. I was told that, if you submit at least 500 moderns, you can expect a 3% return. Maybe a lot of the non-PR70s came from submitters who only submitted five or ten?

XpipedreamR

I though that gold was about $7,000,000 per ounce?

wondercoin

"I though that gold was about $7,000,000 per ounce?"

TOUCHE

Newton - My comment related to the simple math of close to 3,000 submissions to net a half dozen "perfect" coins. I wasn't addressing who exactly was submitting them, under what service line, etc. My comment related only to the MATH - 3,000 oz. of gold x $600/coin plus 3,000 grading fees = in excess of $1,500,000 of cost to slab 3,000 1986 $50 Gold eagles.

Wondercoin

MacCoin

all I can say is yer right

baccaruda

I'm not taking sides one way or another because I'm not in the registry game, but...

Wonder-

If those 3,000 gold coins were laid in front of you raw, could you identify the 6 MS70s?

baccaruda

Just clarifying, the coins would be in the raw, not you.

atomic

<< <i>"I though that gold was about $7,000,000 per ounce?"

TOUCHE

Newton - My comment related to the simple math of close to 3,000 submissions to net a half dozen "perfect" coins. I wasn't addressing who exactly was submitting them, under what service line, etc. My comment related only to the MATH - 3,000 oz. of gold x $600/coin plus 3,000 grading fees = in excess of $1,500,000 of cost to slab 3,000 1986 $50 Gold eagles.

Wondercoin >>



Hey, I got a Lib with the same date. Is it worth anything?

Atomic

wondercoin

"Just clarifying, the coins would be in the raw, not you."

This question is the "$64,000 question" with respect to ALL grading -ex: if the (6) MS69 Morgan Dollars were in the raw with 3,000 MS67 and MS68 Morgans mixed in - could you identify the (6) MS69's, etc. Short answer is the grading company gets the "big bucks" to do that for us in an impartial manner.

Slightly longer answer is this question is like "have you stopped beating your wife - yes or no? If I answer "yes" to your question, I come off as some pompous "hotshot" grader and, quite frankly, no one will believe it anyway. If I answer "no", you say "see". Would anyone believe the top Morgan graders could all pick the MS69's from among the top 3,000 slabbed Morgans, without fail?


Wondercoin

jbsteven

I could pick the ms69 Morgans out of the bunch every time.

baccaruda

C'mon, I wouldn't say "see?" - it was a rhetorical question.

and no, I wouldn't pay insane prices for a 68 Morgan over a 67 Morgan nor could I identify them.

relayer

Congratulations to wondercoin for making the 70! Nice score

Then listing it with no reserve was a nice touch.

Personally I think that is way too much money to pay for a PCGS cert number, but obviously the bidders don't.

And they do get the coin along with the cert number so that's an added bonus.

I hope they bid it up even more for you. More power to you.