Is there a panic run at nearly any price on PCGS and NGC mint state type $20 Liberties and Saints?

oreville

Something strange is going on.

In less than an hour after I posted to the B/S/T, I had an offer on one $20 liberty and when I indicated that I could not locate it right away, the buyer asked to void the deal. Completely understandable. So we agreed to void the deal. A pleasant board dealer/member. So I withdrew that coin from the B/S/T. But I was confused about why the prospective buyer was in a rush.

I thought I was properly subdued on the quality of these coins.

Then I got a clue just tonight.

Four hours later, three different board members emailed or pm'd me my prices on my $20 Liberties and one of them paid $150 MORE each than my asking price from paypal funds. Then suddenly, the other two buyers also sent paypal funds as well (not from credit cards). I now have to return their funds.

Keep in mind that these 5 gold $20's only represent close to only 5% of what I already own and am not selling. I was just looking to thin the hoard by selling what I thought were my least desireable $20 Libs and Saints I own. Everyone of my $20's have stickys except for this small bunch.

What the heck is going on?

These are not bullion related coins since the prices paid for these coins is more than 50% above the bullion prices.

Is this the beginning of an investor panic to buy at any price?

Unknown

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commoncents123

i've been trying to convince my family to buy gold....are they listening...no

CaptHenway

FWIW, I sold two slabbed Saints this morning at prices I just raised yesteday afternoon.
Somebody out there must be hyping them.
TD

Longacre

Are you selling the Oreville pedigree short?

I am not sure what is going on, but given the other financial markets, I can see an increase in activity in the $20 Libs and Saints. If I read your thread right, did people just paypal you money without asking if the coins were still available? That's pretty unusual.

doh

I'm a bit surprised people are paying for the numismatic value of $20 gold pieces...seems that AGEs are a better bet if all you're doing is investing in gold.

pheh

People don't know what to do. When you don't know what to do you bet on the safest possible avenue for your money. Saints will hold their value far better than AGEs if gold "suddenly" takes a nose dive and you still have the inherent value of gold. 2008 AGEs are flooded, sure 1/10 1/4 and 1/2 are done - but they will likely mint still more 1 oz. I still see some reasonably priced AGEs out there right now - but really only for flipping in the short term with a 20%-30% Microsoft rebate coming 60 days later.

BECOKA

Just got an e-mail from Legend. Seems that they are hyping generic gold right now. Not sure if other dealers are also.

doh

So Pheh... common date Saints are selling for about $1500 let's say. That's roughly 1.67 x spot. AGEs sell for maybe $1000, right? Now let's say gold drops to $500 for some reason and you walk into a shop with a few of those $1500 Saints...do you really expect to get that extra $500 you spent on them? Do you think the dealer will be paying 2 x spot for those common date Saints? I don't think so, friend. If you're purely investing in gold with no numismatic interest, AGEs would have to be the way to go.

Lakesammman

When things really go bad, the currency becomes tobacco, EtOH and ammo.

CoinRaritiesOnline

<< <i>When things really go bad, the currency becomes tobacco, EtOH and ammo. >>



OK, I give up. What is EtOH?

adamlaneus

EtOH is a gasoline additive.

But it's a special one. Folks really don't complain when it gets into the water supply.


EtOH

BBN

anyone know the gray sheet of a 1910s XF Indian Eagle? Is it melt or a little premium?

291fifth

Low mint state graded (slabbed) $20s are bringing very big premiums over melt. This is fueled by the current financial panic. I was talking to my local dealer yesterday and he confirmed that this is the case.

coindeuce

Right now, Heritage is paying stupid money for certified $20 Libs. They have raised their buy price on certified spot free MS-63 Libs $160 in the last week. Currently $1760.

truthteller

So I decided to test the theory and placed 40 UNC $20 Libs on the market today. I placed 5 dealers on speaker phone and had them bid on the lot. It was crazy. They bid up the coins to more than $500 per coin more than what they were worth. The winner traveled to my location paid me in cash two hours later and stated he would have paid me $100 more per coin. The market should be stronger tomorrow, he said.


Now the question is, do you believe me?



TRUTH

coinkat

I don't know what to think

sweetwilliet

<< <i>I don't know what to think >>



Same here. I think I'll watch and wait, continue doing what I normally do.

CaptHenway

<< <i>anyone know the gray sheet of a 1910s XF Indian Eagle? Is it melt or a little premium? >>



As of now the Grey Sheet Monthly price for any dated $10 Indian is about a month old, and totally meaningless.
TD

coinkat

It looks as if anything published on paper in terms of pricing gold coins will not be accurate as the market is on a roller coaster ride