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Bought U.S. Gold Coin today @ $80 UNDER spot per oz. !!!!!

longtimecollectorlongtimecollector Posts: 2,368 ✭
in U.S. Coin Forum
Yeah, it's a rip............

Now, since I'm a dealer, should I send him more than my bid ????????
Cam-Slam 2-6-04
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
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Comments

  • 100proof1957100proof1957 Posts: 6,231 ✭
    more like 35 under spot !

    RIP ?

    yep !
    image
  • kiyotekiyote Posts: 5,580 ✭✭✭✭✭
    Nice rip! You sure got that for a good-- wait, you're a dealer!? Scum! Maggot! Leech! How dare you! image

    As for your question, naw, just fulfill the obligations of the auction.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • Steve27Steve27 Posts: 13,274 ✭✭✭
    Looks like $40 under spot/oz to me, and a big rip of $10 on this coin.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • 291fifth291fifth Posts: 24,425 ✭✭✭✭✭
    Doesn't say much for the demand for US gold commems from the 80's does it? You bought it fair and square but I have to admit I'm surprised by just how poorly it did.
    All glory is fleeting.
  • 100proof1957100proof1957 Posts: 6,231 ✭
    i reckon on an OZ basis !
    image
  • FatManFatMan Posts: 8,977 ✭
    My math suggest $16 under melt. Of course you shouldn't pay him more than your bid. Auctions are not direct sales transactions and are fair game for anyone. But since you brought it up, if I walked into your store with one of these for sale, what would you offer me?
  • 100proof1957100proof1957 Posts: 6,231 ✭
    Heres the kicker on 5 commems

    they are about .24 oz pure

    Eagles are .10 pure

    Secret is out !
    image
  • BECOKABECOKA Posts: 16,961 ✭✭✭
    Does this $5 coin have more metal than the regular $5 issue? If so isn't melt at around $55? This coin sold for over $100.

    Sorry I am just confused. image
  • FatManFatMan Posts: 8,977 ✭
    Here's the math.

    Current spot - $539.90

    Pure gold in Commem $5 - .24187 oz (same as half eagle)

    Spot value - $130.58

    LTC Paid - $115.00
  • Steve27Steve27 Posts: 13,274 ✭✭✭
    "LTC Paid - $115.00" plus $4.05 shipping.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • itsnotjustmeitsnotjustme Posts: 8,779 ✭✭✭
    LTC Paid $115 + $4.05 + $3.35 (Optional Insurance).

    So it is a small rip. More of a tear.
    Give Blood (Red Bags) & Platelets (Yellow Bags)!
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    And you can probably attribute it to the seller’s rather low quality pictures.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,442 ✭✭✭✭✭
    if you feel guilty for the RIP, I'll give you my PAYPAL addy strictly for your work in philanthropy image
  • WeissWeiss Posts: 9,942 ✭✭✭✭✭
    I've posted before that I think these 1980s commems are one of the best values out there. If you can get any under spot in this crazy market, it's a good thing. Well done!
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭

    This isn't anything new - it was talked about here smoe months ago. People just generally don't realize that there is about 1/4 troy oz of gold in the Binentennial versus the $5 Eagle.

    Caveat vendor, I suppose.

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Now, since I'm a dealer, should I send him more than my bid ???????? >>



    No, but since you're a dealer you might want to learn how to calculate spot correctly. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • CladiatorCladiator Posts: 18,062 ✭✭✭✭✭
    oops, wrong thread image
  • BigEBigE Posts: 6,949 ✭✭✭
    This thread proves that modern crap isn't worth the gold it's struck onimage------------BigE
    I'm glad I am a Tree

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