3 AU saints for $3600

heavyd4848 · February 25, 2009 5:53AM

would these be good to buy for resale? 1922,24,25

gecko109 · February 25, 2009 5:55AM

Seems awfully high to me for AU saints!

heavyd4848 · February 25, 2009 5:59AM

$3000 more in line?

gecko109 · February 25, 2009 6:05AM

<< <i>$3000 more in line? >>

They contain about $912 worth of gold, so at $1,000 apiece, i'd consider that the "end user" price....or a price in which I was happy to pay if I was to keep them for myself. Still a bit high though for resale. Not much room in there to grab a profit, unless you have a specific buyer already lined up at a specific price.

Smittys · February 25, 2009 6:18AM

bid in au50 at 967.00 gold is 1185.00
If you can buy them for 1000.00 consider yourself lucky
they're just not around at that price
NOT like those pandas that are everwhere....

mrearlygold · February 25, 2009 6:25AM

Wow!

gecko109 · February 25, 2009 6:28AM

Smitty, I remember buying my MS63 NGC 1924 saint about 2 years ago at just $150 above gold at the time. Are common date AU saints really worth a big premium now? I have always, and will always view them as simply bullion, with normal premiums expected ($60-$80 over melt).

SilverEagles92 · February 25, 2009 7:33AM

<< <i>Smitty, I remember buying my MS63 NGC 1924 saint about 2 years ago at just $150 above gold at the time. Are common date AU saints really worth a big premium now? I have always, and will always view them as simply bullion, with normal premiums expected ($60-$80 over melt). >>

Not exactly the answer you're looking for, but I sold a MS63 Saint a couple days ago for $1600. I don't see $1200 for an AU as out of line.

mhammerman · February 25, 2009 8:55AM

do your homework

streeter · February 25, 2009 10:32AM

If gold cools and you need to get out--that is a pretty big premium-not by todays market but by historical standards. You might be lucky to get spot if golds cools and is retracing and you need to sell.

This is a really tough time to buy big gold unless you REALLY need it. They better be nice AU's.

good luck

roadrunner · February 25, 2009 2:02PM

FWIW one major dealer's buy listed buy price for raw AU's is slightly above $1200. It was even higher a few days ago. But with gold correcting, it could easily peel off another $50-$100. The premiums are high, but so far hanging in.

$1200 is probably the going rate in the hidden market but I'd be leery of shelling that out right now. If you can buy them for $1000 or so, stock up. I'm sure some local dealers and part timers would sell in the $1000-$1150 range if they have not been paying attention.

roadrunner

BBN · February 25, 2009 3:32PM

good lord. What would a 1908 in a PCGS MS64 slab go for then? That's the one coin I've had longer than any and the one non expendable coin in my collection. Mainly because I've had it longer than my others and also I just love the way it looks. I believe PCGS lists it at $1900, but surely not that high.

SilverEagles92 · February 25, 2009 11:49PM

<< <i>$1200 is probably the going rate in the hidden market but I'd be leery of shelling that out right now. If you can buy them for $1000 or so, stock up. I'm sure some local dealers and part timers would sell in the $1000-$1150 range if they have not been paying attention.

roadrunner >>

Local dealer offered me spot + $75 for my MS63, so he can't be selling them for much more than that. I didn't think to ask him.

BBN, I bet you could get $1700-$1800 for your MS64.

roadrunner · February 26, 2009 12:48AM

Your local dealer was ripping you off and everyone else he deals with. If the guy has access to a CDN (which is up to 1 week behind the market) he would have surely noticed that bid on those was $1450-$1550 or thereabouts. Heck, the premium of 63's to spot was 45-50% back in the first week of January when gold was $854.
$75 over spot? He must be using a 2005 or 2007 greysheet....lol.

MS63 and 64 saints are not that far different in price. The 63's peaked round $1700 this past week. You could have probably gotten $1600 or so for it. 64's peaked around $1900. The numbers sound crazy but that's what they were selling for. I have to figure these are being sold outside the normal collecting community.

roadrunner

BBN · February 26, 2009 2:02AM

when did the premiums go so high? I thought 64s could be had for about $1300 last year when the price ran up to $1,000 spot.

roadrunner · February 26, 2009 7:49AM

Yup, 64's could have been had for $1300 or so and 65's for no more than $1700 when gold peaked last year. After gold crashed again in July the $20 Saint/Lib premium recovered very quickly and actually took most of them to levels higher than March 2008. Ironically, those people positioned in "leveraged" $20's made money in 2008 while those in bullion saw a decline. The demand for one ounce gold coins helped to fuel this rush. With few bullion coins around, buyers were looking at $20's as well. There might have been a promotional piece of that action as well.

Once again starting in early February, a rush or promotion for $20's appeared again. This has raised prices from $1400/$1650 in early January to the recent peak of $1900/$2350. Obviously a lot more was at work here than a mere $150/oz rise in the price of gold. These saints outperformed bullion by 2X or more over 10 weeks.

roadrunner

ProofCollection · February 26, 2009 10:05AM

<< <i>do your homework >>

And notice the date! Premiums have exploded in the past 2 weeks.

Check the PCGS price guide. Common date MS63 Saints are going for $2000+.

1908 No Motto Staint MS63: $2125
1922 MS63 Saint: $2125
1900 MS62 Lib: $2035

mhammerman · February 26, 2009 10:11AM

"And notice the date! Premiums have exploded in the past 2 weeks.

Check the PCGS price guide. Common date MS63 Saints are going for $2000+.

1908 No Motto Staint MS63: $2125
1922 MS63 Saint: $2125
1900 MS62 Lib: $2035"

Yep, minimum bids are certainly up so let's see what they bid for if they do sell on Sunday. Not many being offered...
Lesse

jdimmick · February 26, 2009 10:16AM

Yes, the new greysheet that came out yesterday has prices on this stuff exploding with increases!! However, I would want to be a seller into this craze, not an end buyer at this level. IMO, as the spot price retreats, and the market has had had a few weeks of sell into, and the promotion and media attention(1000 gold) wanes, these premiums will come down quickly to more normal levels . Of course this is just my opionion!

ProofCollection · February 26, 2009 10:18AM

I'm just glad I did all of my buying last year. I just wish I had done more, but I am mostly out of cash at the moment.

tggr · February 27, 2009 7:46AM

I have a 1923-d saint
pcgs 65 that I payed 1500 last year,

roadrunner · February 27, 2009 7:59AM

Check the PCGS price guide. Common date MS63 Saints are going for $2000+.

Russ was loaded down with MS64 Saints during the last PCGS price guide contest. Too bad this didn't happen sooner for him.

Gold is probably only going through a brief correction prior to another shot at $1000 very soon. 3 times is a charm as they say. Dips to $930 gold so far have not dented the Saint prices much at all. I think whoever the end users are, they are not worried about what gold is next week, but where it's going to be next year or the year after. Saints have been very volatile over the past few years, but the trend for long term holders has been decidedly up. And once you're out, you tend to stay out. So you pay your taxes on the profit and then what do you plunk your cash into at that point? Stocks? Bonds? SIV's? T-bills? Rare paintings? Baseball cards? Real Estate?

roadrunner

jdimmick · February 27, 2009 9:33AM

So you pay your taxes on the profit and then what do you plunk your cash into at that point? Stocks? Bonds? SIV's? T-bills? Rare paintings? Baseball cards? Real Estate?

Turn around and buy more as it comes in!

roadrunner · February 27, 2009 11:58PM

So you pay your taxes on the profit and then what do you plunk your cash into at that point? Stocks? Bonds? SIV's? T-bills? Rare paintings? Baseball cards? Real Estate?........Turn around and buy more as it comes in!

That works fine for a dealer who is buying continual volumes of coins and cherishes their cash flow. Doesn't work so well for those who buy infrequently where cash flow is not of any concern. Once they sell out they tend to be out until prices retreat to less than what they sold at. For those still waiting to buy in at $8-10 silver or $650-750 gold, I'm not sure when such an opportunity will present itself again. Since gold and silver are more insurance money for most people, it doesn't make sense to be out of it when the day finally shows up when you wish you had it.

roadrunner

streeter · March 2, 2009 3:01AM

All price sheets are lagging in this market--they are either lagging short or long. You do not know what is going on unless you are trying to acquire coins/bullion in this market.

The market is changing very rapidly......the bigger fish are manipulating certain coins and individual b/m dealers may have capital in the morning and be out at 4pm until the next day---- or vice versa. Be vewy vewy careful right now.

3 AU saints for $3600

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