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So when is a tenth ounce of gold worth $418.99?

When it looks something like this:

http://cgi.ebay.com/1998-10-YUAN-CHINESE-PROOF-GOLD-PANDA-1-10-OUNCE_W0QQitemZ290241640299QQihZ019QQcategoryZ139964QQssPageNameZWDVWQQrdZ1QQcmdZViewItem


Normally I simply would not pay over 4x melt for a piece of modern junk. But this is much needed for my 27 piece date set, and had just 8,000 pieces struck. It is by far the rarest 1/10th ounce gold panda in the series, and a very pretty coin to boot!

Comments

  • GoldbullyGoldbully Posts: 17,990 ✭✭✭✭✭
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    I was going to say it's worth $418.99 when the underbidder decided it was worth one increment below that.
  • lcoopielcoopie Posts: 8,873 ✭✭✭✭✭
    2011?
    LCoopie = Les
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    So when is a tenth ounce of gold worth $418.99?

    i took Math back in the 60's but i think the answer is when the spot price for an ounce of gold reaches about $4,189.90. give or take a few dollars, of course.
  • gecko109gecko109 Posts: 8,231
    Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?image It would probably make this piece look like a steal I would imagine.
  • CladiatorCladiator Posts: 18,258 ✭✭✭✭✭


    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image
  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    I have one Gold Eagle which is very much like this. 1/5th of the coin is definitely worth $450. The other 4/5ths of the coin, at only $50, was a real bargain!

    The rest of my Gold Eagles, curiously, are priced pretty consistently as you integrate over the volume.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?

    my imagination tells me that currently it'd be worth right around $100. again, give or take a few dollars.
  • FilthyBrokeFilthyBroke Posts: 3,518
    I have a 1/40th oz. Cal. fractional, near $300.
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>

    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image >>



    Where is shill bidding detectable?
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?image It would probably make this piece look like a steal I would imagine. >>

    Yep. That's the demand side. And you don't even need to go Dark Side to see it.

    Look at the difference in value between a proof-only 1895 Morgan Dollar (mintage 880) and the proof-only 1877 three cent nickel (estimated mintage 900).

    Or, for that matter, an 1893-S Morgan (100,000) and an 1856 half cent (40,230).
  • gecko109gecko109 Posts: 8,231


    << <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?

    my imagination tells me that currently it'd be worth right around $100. again, give or take a few dollars. >>




    The 1988 is the key date in the $5 GAE series with just a shade under 160,000 examples struck. A quick search on ebay shows that it sells in the $165-$185 range or so. That coin is about 19.9 times more common than the 1998 1/10th panda, give or take a few decimal places.image
  • gecko109gecko109 Posts: 8,231


    << <i>

    << <i>Can you guys imagine how much a $5 GAE would be worth in the 8,000 mintage range?image It would probably make this piece look like a steal I would imagine. >>

    Yep. That's the demand side. And you don't even need to go Dark Side to see it.

    Look at the difference in value between a proof-only 1895 Morgan Dollar (mintage 880) and the proof-only 1877 three cent nickel (estimated mintage 900).

    Or, for that matter, an 1893-S Morgan (100,000) and an 1856 half cent (40,230). >>




    A very astute observation and example of supply/demand Zig. Im a firm believer that there are well over 8,000 collectors worldwide of the Chinese gold panda series, with many, many more to come soon (China's booming economy). Of course, thats most likely the reason why it takes 4x melt or better to secure this modern bullion coin I suppose.
  • CladiatorCladiator Posts: 18,258 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image >>



    Where is shill bidding detectable? >>

    I said undetectible.
  • gecko109gecko109 Posts: 8,231


    << <i>

    << <i>

    << <i>

    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image >>



    Where is shill bidding detectable? >>

    I said undetectible. >>




    What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction?
  • when it is a 1999 W error
    Why do you have to 'put your two cents in'... but it's only a 'penny for your thoughts'? Where's that extra penny going to?
  • rgCoinGuyrgCoinGuy Posts: 7,478
    What's wrong Gecko, the World Coin Forum not got enough action in it for you? image BTW, you were right, I did like that NGC quarter in hand. image
    imageQuid pro quo. Yes or no?
  • DoubleEagle59DoubleEagle59 Posts: 8,380 ✭✭✭✭✭
    So when is a tenth ounce of gold worth $418.99?

    probably in the year 2015.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • gecko109gecko109 Posts: 8,231


    << <i>What's wrong Gecko, the World Coin Forum not got enough action in it for you? image BTW, you were right, I did like that NGC quarter in hand. image >>




    I have seen box turtles move faster than that "other" forum.image Glad ya liked the rip.....errrr coin you got from me. Im gonna need you to help me again with my avatar on the 15th.
  • CladiatorCladiator Posts: 18,258 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>

    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image >>



    Where is shill bidding detectable? >>

    I said undetectible. >>




    What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction? >>

    How do you tell on the other site? Dunno, who cares. This thread is about an eBay auction not an auction at another site.
  • gecko109gecko109 Posts: 8,231


    << <i>

    << <i>

    << <i>

    << <i>

    << <i>

    << <i>So when is a tenth ounce of gold worth $418.99? >>

    When it's being sold on eBay, where shill bidding is undetectible. image >>



    Where is shill bidding detectable? >>

    I said undetectible. >>




    What Jerry is trying to say is that shill bidding goes on in all venues, not just ebay. How can you detect shill bidding on a Heritage, Teletrade, or Stacks auction? >>

    How do you tell on the other site? Dunno, who cares. This thread is about an eBay auction not an auction at another site. >>





    Cladiator.....you said "when its sold on ebay where shill bidding is undetectable". When you make a statement like that, it implies that only ebay has problems with undetectable shill bidding. So Jerry and I both ask....WHERE IS shill bidding more easily detected?

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