Am I going to hell for only paying $280 for this?

FEC · November 7, 2009 4:12AM

A lady calls and says she has a 1986 Gold Eagle to sell and asks what we pay. I told her $280 if its in good condition. She said it was "Still in its holder".

Here is what she brought in. I think I am gonna sell it on ebay and split whatever over $280 it brings. It may be bad business, but I bet she will bring me all her future business.

jsf · November 7, 2009 4:16AM

No, but you're gettin' warm!

JaPa · November 7, 2009 4:20AM

<< I told her $280 if its in good cond >>

So since you offered 280 in good condition and when she brought it in it was far beyond that why did you not pay her the going price then and there for the slabbed coin?

SilverEagles92 · November 7, 2009 4:20AM

"what we pay"

I assume you're a retail establishment and you only gave her $280?
Why wouldn't you pay more?

Mesquite · November 7, 2009 4:21AM

Look on the bright side. There is income tax you won't have to pay by following through with your plan.

Raybo · November 7, 2009 4:25AM

I look at it as bullion, I wouldn't pay over spot (plus a few points) but that's just me.

FEC · November 7, 2009 4:27AM

<< 

<< I told her $280 if its in good cond >>

So since you offered 280 in good condition and when she brought it in it was far beyond that why did you not pay her the going price then and there for the slabbed coin? >>

I figured it was worth a small premium being a 70, I am allowed to make a profit. but didnt realize until afterwards it was a HUGE premium. So now I feel bad.

shorecoll · November 7, 2009 4:28AM

You're likely going anyway, this is just one more nail!

Broadstruck · November 7, 2009 4:30AM

<< You're likely going anyway, this is just one more nail!

>>

I case you get lost...

TomB · November 7, 2009 4:42AM

I realize the PCGS price guide lists this at $1,500 in PCGS MS70, but what is the true value of this? It is an NGC MS70, not a PCGS MS70, and the market appears to make quite a distinction between services at this grade level. The last two NGC MS70 pieces to sell via Heritage sold in late 2006 for $207 and $345 (average $276) when gold was trading at $625 or thereabouts. So, is this a $400 coin? Is it a $700 coin?

myth · November 7, 2009 4:46AM

wonder where she got it since its in a new ngc holder. And she was unaware of what type of "holder" its in.....

PawPaul · November 7, 2009 4:51AM

........if that's a 1/4 of gold - you will end up in heaven ;

I have seen far too many people completely fleeced by Coin Shop's when selling their gold -

OPA · November 7, 2009 4:54AM

The NGC 69's are selling for about $330. I believe you did quite well.

fc · November 7, 2009 4:56AM

<< I realize the PCGS price guide lists this at $1,500 in PCGS MS70, but what is the true value of this? It is an NGC MS70, not a PCGS MS70, and the market appears to make quite a distinction between services at this grade level. The last two NGC MS70 pieces to sell via Heritage sold in late 2006 for $207 and $345 (average $276) when gold was trading at $625 or thereabouts. So, is this a $400 coin? Is it a $700 coin? >>

you make an excellent point. not enough information to decide if
we should crucify the OP or not

but in my world.. where i think slabbed modern gold is a bunch of
bull... i would pay melt with a slight premium. 69 or 70? who cares...
they are all the same to me.

agentjim007 · November 7, 2009 4:59AM

all coin dealers go to hell

WTCG · November 7, 2009 5:12AM

You got a good deal at $280 but I wouldn't call it a rip nor would you be going to hell over it.

ocon4008 · November 7, 2009 5:20AM

Swooping in for the kill?

You should be ashamed of yourself.

RedHerring · November 7, 2009 5:30AM

eBay completed listings for NGC MS70 1/4oz GAE are as low as $350 recently.

Don't know if the 1986 is worth much more but that coin's not worth over $400 to me.

MrEureka · November 7, 2009 5:45AM

Am I going to hell for only paying $280 for this?

I don't know, but sell the coin before you get there. My understanding is that there's an ample supply of moderns in hell. In fact, the only coins they have there are moderns.

WoodenJefferson · November 7, 2009 5:50AM

When you sell it on e-bay for a nice profit, have someone else take it to the Post Office so you don't get run over in their parking lot.

sinin1 · November 7, 2009 6:41AM

here's one hammered on Teletrade for $280

15 months ago

you probably will go to h@ll for implying that ANACS
doesn't know a proof trade dollar even when the submitter told them it was

FEC · November 7, 2009 7:05AM

Wow, those are not worth anything close to what a PCGS MS70 price guide shows, so I am glad I didnt see that beforehand and do somethign stupid like give her $1000 for it.

ziggy29 · November 7, 2009 7:07AM

No, only purgatory. If it were in a PCGS slab you'd be going to hell.

notwilight · November 7, 2009 7:09AM

I wouldn't pay much more and I think I'm a strong buyer of moderns. NGC 70s sell for not much more than raw. That is a brand new NGC slab too BTW so it isn't like it's been in the family long. Are you sure it isn't hot? --Jerry

FEC · November 7, 2009 7:20AM

<< I wouldn't pay much more and I think I'm a strong buyer of moderns. NGC 70s sell for not much more than raw. That is a brand new NGC slab too BTW so it isn't like it's been in the family long. Are you sure it isn't hot? --Jerry >>

Well she doesnt look like a person who would steal it, but you never know. Per state law we record ID's of all customers who sell us anything and turn it in to the state.

notwilight · November 7, 2009 7:23AM

<< 

<< I wouldn't pay much more and I think I'm a strong buyer of moderns. NGC 70s sell for not much more than raw. That is a brand new NGC slab too BTW so it isn't like it's been in the family long. Are you sure it isn't hot? --Jerry >>

Well she doesnt look like a person who would steal it, but you never know. Per state law we record ID's of all customers who sell us anything and turn it in to the state. >>

So you've got it under control. Just kindo strange to have a newly graded coin and not know what you have. --Jerry

Smittys · November 7, 2009 7:44AM

It's not like a 15k coin for 300.00

TwoSides2aCoin · November 7, 2009 9:26AM

ya gotta ask yer coinshunts and let yer coinshunts be yer guide.

bestday · November 7, 2009 9:34AM

<< wonder where she got it since its in a new ngc holder. And she was unaware of what type of "holder" its in..... >>

Maybe hot ???

FEC · November 7, 2009 9:35AM

The moral to this story: NGC MS70 <> PCGS MS70

Or :

Ed1840 · November 7, 2009 9:45AM

<< 

<< wonder where she got it since its in a new ngc holder. And she was unaware of what type of "holder" its in..... >>

Maybe hot ??? >>

Sometimes various clubs chance this stuff off. My Mom won a roll of 1964 Kennedy halves at the VFW that her and my Dad belonged to. She also won Morgan, and Peace dollars from time to time.

derryb · November 7, 2009 9:49AM

<< 

<< wonder where she got it since its in a new ngc holder. And she was unaware of what type of "holder" its in..... >>

Maybe hot ??? >>

probably hot, I'd contact local police and see if it's on their list of stolen goods before I put it on ebay. Hate to see you posting from the pokey.

FEC · November 7, 2009 9:57AM

Maybe you missed what I wrote earlier. By law we turn over all sales records to the state when we purchase something in our shop. We make a copy of the sellers ID and we are not required to hold it for any length of time before reselling. I really doubt she stole it. But, you never know.

Fletcher · November 8, 2009 2:39AM

<< A lady calls and says she has a 1986 Gold Eagle to sell and asks what we pay. I told her $280 if its in good condition. She said it was "Still in its holder".

Here is what she brought in. I think I am gonna sell it on ebay and split whatever over $280 it brings. It may be bad business, but I bet she will bring me all her future business.

>>

Scummy

jessewvu · November 8, 2009 2:46AM

Hard to say. Some people expect to be treated fairly and put a lot of faith in those they seek for help. On the other hand, some people do not take the time to self educate, why should others reward them for that?

I would hope that if it were me, I would have been exited for them and told them they have something special and that I would be more than happy to help them sell it. It ALWAYS feels better to give than receive.

Fletcher · November 8, 2009 3:42AM

<< Some people expect to be treated fairly and put a lot of faith in those they seek for help. >>

... at least by reputable dealers.

coinpictures · November 8, 2009 3:54AM

A little low, perhaps, but certainly nothing for anyone to get their panties in a wad over, IMO.

fc · November 8, 2009 4:32AM

<< 

<< Some people expect to be treated fairly and put a lot of faith in those they seek for help. >>

... at least by reputable dealers. >>

fletcher... you may want to read the posts before posting yourself
because there was nothing scummy about the deal.

jmski52 · November 8, 2009 4:44AM

Scummy

No, not really. NGC-70 on a 1986 1/4 ozer? Not a big deal. Not a rarity and essentially the same grade as a PCGS MS-69.

This is one deal that I don't begrudge the dealer.

jmski52 · November 8, 2009 4:47AM

My understanding is that there's an ample supply of moderns in hell. In fact, the only coins they have there are moderns.

Odd comment. Typical, I suppose if you can't stand the fact that people actually collect Modern Bullion.

Just think of "all that money" that isn't going into "classic coins".

Alienate more of us, feel free.

RYK · November 8, 2009 5:14AM

<< Scummy

No, not really. NGC-70 on a 1986 1/4 ozer? Not a big deal. Not a rarity and essentially the same grade as a PCGS MS-69.

This is one deal that I don't begrudge the dealer. >>

I agree. To me, an NGC-70 is not worth much north of raw.

Am I going to hell for only paying $280 for this?

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