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Just Bought Something From A Tv Coin Show. GOld Coins
CoinGobbler
Posts: 33
Hi, did I make a boo boo? I saw a complete set of $5 gold eagle coins all graded pcgs ms 69 years 1986 to 2006 for $2,200.00 and bought it, with somekind of dansco album, is that a good deal? Let Me Know.
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It costs a lot of money to sell on TV so somebody has to pick up that cost.
The set would probably go for about $1,500 today.
Keep in mind that is 2.2 oz of gold @ $570 = ~$1,250
That means $950 is plastic and profits
My posts viewed
since 8/1/6
<< <i>Hi, did I make a boo boo? I saw a complete set of $5 gold eagle coins all graded pcgs ms 69 years 1986 to 2006 for $2,200.00 and bought it, with somekind of dansco album, is that a good deal? Let Me Know. >>
I hope you can back out of the deal, That is way to much. IMHO
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
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<< <i>Hi, did I make a boo boo? I saw a complete set of $5 gold eagle coins all graded pcgs ms 69 years 1986 to 2006 for $2,200.00 and bought it, with somekind of dansco album, is that a good deal? Let Me Know. >>
I hope you can back out of the deal, That is way to much. IMHO >>
Yes I can back out anytime in the next 24hrs to 30 days return, but where can I pick up 21 pcgs ms 69 gold coins for $1,500 right now?
- Marcus Tullius Cicero, 106-43 BC
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
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<< <i>Hi, did I make a boo boo? I saw a complete set of $5 gold eagle coins all graded pcgs ms 69 years 1986 to 2006 for $2,200.00 and bought it, with somekind of dansco album, is that a good deal? Let Me Know. >>
I hope you can back out of the deal, That is way to much. IMHO >>
Yes I can back out anytime in the next 24hrs to 30 days return, but where can I pick up 21 pcgs ms 69 gold coins for $1,500 right now? >>
look, those gold eagles you are talking about buying are about 19 coins times 1/10 of one once equals 1.9 onces. it is 468.00 an once. why pay more for bullion
<< <i>Yes I can back out anytime in the next 24hrs to 30 days return, but where can I pick up 21 pcgs ms 69 gold coins for $1,500 right now? >>
Ummm, I have to ask the question.
Why?
Why would you want common 1/10th ounce gold bullion to even be slabbed? Why would you even want tenth ounce pieces given the markup on fractionals even if they were raw?
Do you just want to buy plastic? I can make you a better deal on $50 and $10 PCGS slabbed MS69 coins if you really want them.
I paid spot for the gold, a PCGS MS 69 slab on a coin like that adds no value.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Uh, is that CameoCC out of Columbia, MD? They don't exactly have the greatest reputation... >>
huh
What is wrong with CameoCC?
http://www.cameocc.com/
For disclosure purposes: My numbers provided are from current sales information. I have a complete set GAE $5s that I have consigned to Tassa, a forum member, to sell on ebay. Several have already been sold, but many are currently up and more will be listed shortly. Here is a Link.
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<< <i>Hi, did I make a boo boo? I saw a complete set of $5 gold eagle coins all graded pcgs ms 69 years 1986 to 2006 for $2,200.00 and bought it, with somekind of dansco album, is that a good deal? Let Me Know. >>
I hope you can back out of the deal, That is way to much. IMHO >>
Yes I can back out anytime in the next 24hrs to 30 days return, but where can I pick up 21 pcgs ms 69 gold coins for $1,500 right now? >>
You can buy them each for approx $65 or lower, graded by PCGS at MS69 on ebay right now, if that's
what you wish.
By the why, ignore the "Children" & thier comments on this forum, they know not what they do or say.
.
"Always Do Right, This Will Gratify Some And Astonish The Others" - Mark Twain
<< <i>You can buy them each for approx $65 or lower, graded by PCGS at MS69 on ebay right now, if that's
what you wish. >>
Not possible. Maybe for 2004-6, but still not likely. You need to include the typical $5-$6 shipping cost most of the sellers tack on. Here are the results of what has sold in the past 4 weeks out of my collection:
PCGS MS69 $5
1989-$84.19
1990-$97.04
1996-$81.95
1997-$87.04
1999-$71.09
2001-$69.01
All were sold as $.99 opening bid No Reserve.
Here is a current auction (not mine) for a 1988
<< <i> it is 468.00 an once. why pay more for bullion >>
I would liek to know where he buys his gold! The rest of us are paying near $570.
Regardless,
$2,200 is a big waste.
<< <i>Fountainheadgold wrote
<< <i> it is 468.00 an once. why pay more for bullion >>
I would liek to know where he buys his gold! The rest of us are paying near $570.
Regardless,
$2,200 is a big waste. >>
Sorry, typo, or its going north so fast it is hard to keep up with
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<< <i>You can buy them each for approx $65 or lower, graded by PCGS at MS69 on ebay right now, if that's
what you wish. >>
Not possible. Maybe for 2004-6, but still not likely. You need to include the typical $5-$6 shipping cost most of the sellers tack on. Here are the results of what has sold in the past 4 weeks out of my collection:
PCGS MS69 $5
1989-$84.19
1990-$97.04
1996-$81.95
1997-$87.04
1999-$71.09
2001-$69.01 >>
I beg to differ, heres a 1996 PCGS that sold for $69.00
Eagle_W0QQitemZ8371400111QQcategoryZ39483QQrdZ1QQcmdZViewItem">Link
Heres a 2000 PCSG that sold for $67.00 Link
Heres a 1998 PCGS, sold for $62.00
Link
All i'm saying is, they're out there if you look, some cheap, some a little more expensive.
On what you bought CoinGobbler, i would back out of the deal or return them. You will find them
cheaper. Good Luck!!!
.
"Always Do Right, This Will Gratify Some And Astonish The Others" - Mark Twain
<< <i>
<< <i>You can buy them each for approx $65 or lower, graded by PCGS at MS69 on ebay right now, if that's
what you wish. >>
Not possible. Maybe for 2004-6, but still not likely. You need to include the typical $5-$6 shipping cost most of the sellers tack on. Here are the results of what has sold in the past 4 weeks out of my collection:
PCGS MS69 $5
1989-$84.19
1990-$97.04
1996-$81.95
1997-$87.04
1999-$71.09
2001-$69.01
All were sold as $.99 opening bid No Reserve. >>
Live and learn, thanks Fatman. Looks like these things are relatively scarce. Unfortunately, there is not much room to make any profit because by the time a person buys a raw coin and submits it, and pay all the fees plus the Ebay selling fees, the cost is close to what they are are selling for.
The retail value is what Fatman says, about $1800-$2000, though as someone else pointed out, a person can do better than that if they take a lot of time to shop around. The wholesale value is melt plus $100 to $200 depending on the dealer (the extra value is mostly in the key date 1988 and many dealers will try to talk the seller into the common price), or around $1250-$1350. I suppose if a person really wanted these specific coins, it might be considered an okay deal to save on the time of hunting them down or buying the raw ones and sending them in.
The original poster stumbled into some relatively good luck here. Most coins sold on TV go for a lot more than a typical dealer charges, sometimes 100% more, and sometimes with a big shipping and handling charge that is not refundable, if the buyer gets cold feet or learns that they overpaid.
<< <i>I beg to differ, heres a 1996 PCGS that sold for $69.00
Eagle_W0QQitemZ8371400111QQcategoryZ39483QQrdZ1QQcmdZViewItem">Link
Heres a 2000 PCSG that sold for $67.00 Link
Heres a 1998 PCGS, sold for $62.00
Link
All i'm saying is, they're out there if you look, some cheap, some a little more expensive.
On what you bought CoinGobbler, i would back out of the deal or return them. You will find them
cheaper. Good Luck!!!
You are not looking at delivered cost.
The 1996 has a shipping cost of $7.00 making it $76.00.
The 2000 has a shipping cost of $5 making it $72.00. No Direct PayPal (looks backhanded to avoid fees)
And the 1998 has a shipping cost of $7.30 insured making it $69.30. No PayPal
Those are consistent with my $80-$85 average considering the premium required to obtain the earlier date.
Just to set the record straight, I'm on record that the TV price is 20%+ overpriced. But the idea that these sell for bullion is not correct.
Why?
Why would you want common 1/10th ounce gold bullion to even be slabbed? Why would you even want tenth ounce pieces given the markup on fractionals even if they were raw?
Do you just want to buy plastic? I can make you a better deal on $50 and $10 PCGS slabbed MS69 coins if you really want them.
I paid spot for the gold, a PCGS MS 69 slab on a coin like that adds no value. - Deadhorse
I really wish people wouldn't hassle folks about their collecting tastes. Different strokes for different folks, Deadhorse. Just remember that some folks think Morgans are boring and overpriced. Aside from that there are some good reasons to collect gold eagles - try these on:
1) They're pretty. I've always loved the St. Gaudens design, but can't really afford the classic pieces. This makes $5 eagles a good option for me.
2) It's so cost prohibitive to complete the vast majority of US coin series these days that bullion may be the best option for a collector who feels the need for completion.
3) Gold is soft and the mint usually isn't. MS69 can actually be pretty tough for some of the dates in the series.
All of that being said, I still wouldn't buy them off of television. If you mean to call the coins you have a collection in my opinion you shouldn't just go out and acquire them all in one fell swoop. The fun is in the hunt!
The only coin company in Columbia, MD is Coast to Coast Coin.
There is a wholesaler who sells 1986-2006 1/10 oz gold eagle sets in NGC MS-69 for $1,800. For TV the $2,200 price tag isn't as bad as most TV deals.
Here is a link to Cameo CCCameo CC[L=Cameo cc] [L=Cameo cc]
<< <i>Ummm, I have to ask the question.
Why?
Why would you want common 1/10th ounce gold bullion to even be slabbed? Why would you even want tenth ounce pieces given the markup on fractionals even if they were raw?
Do you just want to buy plastic? I can make you a better deal on $50 and $10 PCGS slabbed MS69 coins if you really want them.
I paid spot for the gold, a PCGS MS 69 slab on a coin like that adds no value. - Deadhorse
I really wish people wouldn't hassle folks about their collecting tastes. Different strokes for different folks, Deadhorse. Just remember that some folks think Morgans are boring and overpriced. Aside from that there are some good reasons to collect gold eagles - try these on:
1) They're pretty. I've always loved the St. Gaudens design, but can't really afford the classic pieces. This makes $5 eagles a good option for me.
2) It's so cost prohibitive to complete the vast majority of US coin series these days that bullion may be the best option for a collector who feels the need for completion.
3) Gold is soft and the mint usually isn't. MS69 can actually be pretty tough for some of the dates in the series.
All of that being said, I still wouldn't buy them off of television. If you mean to call the coins you have a collection in my opinion you shouldn't just go out and acquire them all in one fell swoop. The fun is in the hunt! >>
First; I did ask why? If he was after the gold then it was a foolish choice. If if was because of the MS 69 slab, then again it was a foolish choice. You really don't know what you're talking about with regards to MS 69 slabs on modern bullion. There are probably 1000 times the MS 69s than all other grades combined. It's difficult to get a 68 grade. It isn't tough at all for ANY date in the series.
Second; I wasn't hassling anyone about tastes, as I was asking why he would make such a choice.
Remember, he asked if it was a "good deal". Good deal doesn't infer collecting towards a complete series, it infers a dollar figure.
Third; given the original question, I gave him the proper answer. $5 fractionals are the worst possible way to collect modern St. Gaudens from the perspective of a "deal".
Fourth; I'm well aware of people's choices in collecting and you've never seen me criticize anyone for their choice of what to collect.
Bottom line.......he paid too much.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
"Man who buy coins on TV, out of money soon will be"
Here's my take on slabbed coins, if you can get a RATED coin, isn't that what most people want today since we live in a material seeking world to have the best?, I can care less about stuff like that, but I'm hoping that a blazing beauty gold bullion coin in a none other so call PCGS holder would hold more value than a NGC/ICG/SGS holder?
I don't want a plain jane bullion coin that somebody or dealer has and states its in perfect condition? I guess it was to easy to see getting a whole set of graded coins quickly at a price that was lets say in the ballpark. I got All coins in the series in a beautiful binder with free shipping and no headaches from ebay sellers inflated shipping prices, insurance prices and the junk they might dump because the coin they are selling turned color or doesn't have that great eye appeal, so let me know what you think?
<< <i>Very Interesting comments, let me further ask this about the bullion coins I bought? I got free shipping, also I got 21 coins, 1986 to 2006, I see many people here don't care about slabbed coins.
Here's my take on slabbed coins, if you can get a RATED coin, isn't that what most people want today since we live in a material seeking world to have the best?, I can care less about stuff like that, but I'm hoping that a blazing beauty gold bullion coin in a none other so call PCGS holder would hold more value than a NGC/ICG/SGS holder?
I don't want a plain jane bullion coin that somebody or dealer has and states its in perfect condition? I guess it was to easy to see getting a whole set of graded coins quickly at a price that was lets say in the ballpark. I got All coins in the series in a beautiful binder with free shipping and no headaches from ebay sellers inflated shipping prices, insurance prices and the junk they might dump because the coin they are selling turned color or doesn't have that great eye appeal, so let me know what you think? >>
I think you have convinced yourself that you got some sort of a decent deal. It's your money and you are free to do with it as you please.
It's not about slabbed coins, its about slabbed modern bullion. Don't confuse those with coins. That's what the TV guys are getting paid to do and apparently they are doing a good job of it with at least a portion of the buying public.
If you were talking about pre 1933 gold coins you'd be getting a much different response.
Understand that you can buy these coins in a PCGS MS 69 slab for the same price as you can buy them raw. It adds no value, zero, nada, zip, zilch. Sorry.
Now if you had these in PCGS MS70 slabs, then that's a whole different scenario. Those do have significant added value.
A PCGS slab is no more valuable in this case than a Coin World generic slab/holder. If you feel better about it, then fine. The TV salesman did his job, but you are operating on emotion only here as there is no added value in the case of these coins/bullion rounds. BTW, you didn't get free shipping either. You paid for it, trust me. You paid for it mightily.
There's nothing wrong with them, I own several myself, but I paid no more than spot price for them because that's all they're worth. Well, I don't own any slabbed $5 Gold Eagles as fractionals carrry a premium just because they are fractionals and I look for the best value for my money. But I do have several $50 GAE PCGS MS69 bullion coins/rounds. If I have the choice of raw versus PCGS slabbed, I'll take the slabs, but only at the same price as the identical raw coin. Virtually every piece of modern bullion has been placed into flips if not left in their original tubes and a grade of 69 is nothing special, 99% of them are. If I had all my modern bullion coins slabbed I doubt I'd get any 70s and I doubt I'd get anything lower than 69 either.
You asked for our opinons, so don't blame the messengers for the message.
If you're happy, fine. That's it and the end of the story. But you must have had some concerns or you wouldn't have asked the knowledgeable people around here for their input.
BTW, I've never seen a modern Gold Eagle turn, in a slab or otherwise. That's one of the basic properties of gold, it's very stable. Silver Eagles are a different story.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
I think Deadhorse makes a great deal of sense. Please keep in mind, he has no agenda, other than to try to help you and address your concerns/questions.
If you haven't already done so, I'd urge you to try to read his above post deliberately and with an open mind.
You're thinking of Coast to Coast, whose owner was kicked out of the ANA for misrepresenting coins.
CameoCC is a different company.
Buying coins off TV is never a good idea. MS69 SAE's go for twice the price you can get them for off Ebay.....even graded.
Positive BST: WhiteThunder (x2), Ajaan, onefasttalon, mirabela, Wizard1, cucamongacoin, mccardguy1
Negative BST: NONE!
<< <i>CoinGobbler,
I think Deadhorse makes a great deal of sense. Please keep in mind, he has no agenda, other than to try to help you and address your concerns/questions.
If you haven't already done so, I'd urge you to try to read his above post deliberately and with an open mind. >>
<< <i>
<< <i>Uh, is that CameoCC out of Columbia, MD? They don't exactly have the greatest reputation... >>
huh
What is wrong with CameoCC?
http://www.cameocc.com/ >>
Todd Abby is one of the greatest guys you could ever wish to deal with
Go BIG or GO HOME. ©Bill
While its true he may have paid a premium for some coins,others could be quite a bargain.
If and i say if,you bought them All on TT,after the juice and shipping and perhaps sales tax,you are gonna push a 100 each anyway,and how many auctions are you gonna look at to find them all ?
I have the 91's in my kids set and i know i paid over a 100 each on TT
<< <i>Very Interesting comments, let me further ask this about the bullion coins I bought? I got free shipping, also I got 21 coins, 1986 to 2006, I see many people here don't care about slabbed coins.
Here's my take on slabbed coins, if you can get a RATED coin, isn't that what most people want today since we live in a material seeking world to have the best?, I can care less about stuff like that, but I'm hoping that a blazing beauty gold bullion coin in a none other so call PCGS holder would hold more value than a NGC/ICG/SGS holder?
I don't want a plain jane bullion coin that somebody or dealer has and states its in perfect condition? I guess it was to easy to see getting a whole set of graded coins quickly at a price that was lets say in the ballpark. I got All coins in the series in a beautiful binder with free shipping and no headaches from ebay sellers inflated shipping prices, insurance prices and the junk they might dump because the coin they are selling turned color or doesn't have that great eye appeal, so let me know what you think? >>
I think you lucked out. The set you bought is a bit overpriced but not terribly so. You can assemble the set cheaper, probably a good $300 cheaper if you take the time to shop carefully. I agree with the others that certified bullion is only worth a tiny premium over raw bullion coins. The vast majority of the raw ones can be sent in for the MS69 grade. The exception is the MS70 grade in PCGS holders, but that is not what you bought. As to the wholesale value, if you had to dump the set to a local dealer, he/she would probably melt plus a small premium and that is a long way down for bullion. Most bullion is traded for 10% spreads on the small coins and more like 4% on the one ounce coins. The spread on your set is more like 33% and it is bullion in fancy holders and albums. Again, there is a big difference between pre-1933 gold coins and post 1986 bullion.
I doubt there is a single collector on this board that would be a buyer of your set at the price you paid (gold price still at $570 an ounce). This says something to me about whether it is a good deal or not. I don't know if it says anything to you or not.
I like the idea of a 1/10 oz gold eagle set in unc condition and proof condition as well, but I would do it raw and not at current gold prices.....
If you take your time and effort into account in putting this together it ain't terrible I suppose, there are many coins all over the place I think are overpriced so.....
There is added value in having these graded by a reputable firm in MS or PR-69. It is true they are common in this grade but being graded adds value even if it might be somewhat less than the cost of grading. It's also possible that the submitter was hoping for 70's so these could be better coins. (just don't count on it)
These are US coins much moreso than the highly touted 1804 dollar and they contain more silver. These were struck in their year of issue and carefully handled. There is no question as to the authority of the coiner to issue these coins.
I suppose since they are heavier and more pure than the '04 dollar that they are necessarily more valuable as well. Trades are accepted at par. PM me for details on this limited time offer.
<< <i>Keep in mind that is 2.2 oz of gold @ $570 = ~$1,250
That means $950 is plastic and profits >>
$5 Eagles are sold by the mint at 9% over melt, to which any of the retailers will add at least 1% - so the value is already $1,250 + $125 = $1,375.
Just for the sake of argument...
It still seems like a bad deal to me...
Robert A. Heinlein
<< <i>
<< <i>Keep in mind that is 2.2 oz of gold @ $570 = ~$1,250
That means $950 is plastic and profits >>
$5 Eagles are sold by the mint at 9% over melt, to which any of the retailers will add at least 1% - so the value is already $1,250 + $125 = $1,375.
Just for the sake of argument...
It still seems like a bad deal to me... >>
I was using rough estimates. Still I think for $2,200 you should buy four Gold $20 Saints (almost twice the gold content - no plastic content)
My posts viewed
since 8/1/6
As far as Cameo CC goes, I've had nothing but pleasure dealing with them. As far as Coast to Coast goes, I've had NOTHING good come from them. Same goes for almost EVERY full page advertiser in Coin World. maybe I'm the only one that feels that way? LOL Good luck and ENJOY whatever you decide to do. I don't think you'll come any where near breaking even for quite some time with what you purchased. That's what it's all about! Ray
Not my balliwick,but ive made worse deals !
Link O Rama
I still think if i wanted that set,the price aint all bad !