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Proof AGE. To buy or not to buy?

CiccioCiccio Posts: 1,405 ✭
in Precious Metals
The US Mint will release the Proof American Eagle on Oct.7th after last year's black out.
I have never seen one on hand but I am planning to buy it this year (either 1/10 or 1/4).

Pros and Cons? (besides the nusmimatics price)

Comments

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Pro: Make money to buy cooler coins.
    con: There isn't a con.
  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Looks like the low mintage single will be the half ounce. The half ounce will be the best play. All this including the above post is jmho.
  • sebrownsebrown Posts: 424 ✭
    I won't be able to resist these. I believe these will do well, and even though I have a hard time selling gold once purchased, these could be sold at a profit for even more gold. image
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • CiccioCiccio Posts: 1,405 ✭


    << <i>The half ounce will be the best play. >>



    I thought the same but unless gold retreats to $700 I have to go for the smaller sizes.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Looks like the low mintage single will be the half ounce. The half ounce will be the best play. All this including the above post is jmho. >>



    Based on today's gold price, 1/2 oz would cost $804....I'm not to sure if that is the best play, unless you end up with a PCGS PR70 ... First Strike... Just to darn many being produced.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>The half ounce will be the best play. >>



    I thought the same but unless gold retreats to $700 I have to go for the smaller sizes. >>



    I'm with you on that assessment ... 1/4 oz ... should come out in the $425 range.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CiccioCiccio Posts: 1,405 ✭


    << <i>

    << <i>

    << <i>The half ounce will be the best play. >>



    I thought the same but unless gold retreats to $700 I have to go for the smaller sizes. >>



    I'm with you on that assessment ... 1/4 oz ... should come out in the $425 range. >>



    Are you saying that gold will be approx $1350 by Oct.7th?? image

    J/K, if it stays under $1300 the 1/4 should cost $403. But you never know! image
  • sebrownsebrown Posts: 424 ✭
    I'm hoping for an intermediate top in gold and a lower price come Oct 7th.
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>The half ounce will be the best play. >>



    I thought the same but unless gold retreats to $700 I have to go for the smaller sizes. >>



    I'm with you on that assessment ... 1/4 oz ... should come out in the $425 range. >>



    Are you saying that gold will be approx $1350 by Oct.7th?? image

    J/K, if it stays under $1300 the 1/4 should cost $403. But you never know! image >>



    Not really, my guess is based on today's gold price. As an example, First Spouse 1/2 proof is being sold by the Mint for $804...Based on that, I presume the AGE will be in that price range.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CiccioCiccio Posts: 1,405 ✭


    << <i>Not really, my guess is based on today's gold price. As an example, First Spouse 1/2 proof is being sold by the Mint for $804...Based on that, I presume the AGE will be in that price range. >>



    I was kidding, the Mint has a table with the pricing of its products based on the weekly average price of gold.

    Price chart
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    One ouncer is the best play. This is where the demand is for IRAs.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    Pro - these will be hot due to the Mint's more limited offerings across the board.

    Con - the mintages will be nowhere near the scarcest in the series.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Pros- beautiful and fairly desirable
    Cons-cost a lot, more than the melt value

    I'd rather have a normal AGE + some 90% versus 1 proof age.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • joz350joz350 Posts: 185 ✭
    With the amount being minted, will FS strike 70 coins be the only winners?
    I looked around Ebay at completed listings and didn't see any big money being spent on these proof 1 ounce coins. I can see buying them because they are fine looking coins but without a 70 FS I'm not sure these are a flippers delight.
    Anybody holding out for an UNC W Eagle?
  • CiccioCiccio Posts: 1,405 ✭
    Thanks for all your replies.
    I am not going to flip it, just want it for my collection so I don't mind if the premium or the mintage are both high.
    I just wanted to know whether they are beautiful coins or not since I have never seen one.
    The Unc W looks the same of the bullion, so I will pass on that. But I hope the US Mint will make the Silver W Unc.
  • MilesWaitsMilesWaits Posts: 5,349 ✭✭✭✭✭
    Pros - They are GOLD!
    They are the one trick pony from the mint for the year for Gold Ira's.
    Regardless of the mintage, they are HOT.
    Dealers will attack them with a vengance as their cutomers will WANT some/many.
    They come in fractionals; what else this year directly from the Mint has come in fractionals??
    What else will you spend your disposable high-ticket money on?? Oppurtunize.
    They still have the most generous, no Q's asked return policy.

    Cons - You will regret not having the ungraded, the un-molested, super sealed direct from the source!
    The shipping isn't free. The insurance is though.
    Now riding the swell in PM's and surf.
  • PreTurbPreTurb Posts: 1,193 ✭✭✭
    Yuck.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Double Yuck. I'll hold out for the ASE proofs. Gut tells me they are coming. Gut is usually right unless I ate pizza. No pizza in the last week!

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Double Yuck. I'll hold out for the ASE proofs. Gut tells me they are coming. Gut is usually right unless I ate pizza. No pizza in the last week! >>



    I've got the same feeling...also I'm hold out for the "hockey pucks"...image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>

    << <i>Double Yuck. I'll hold out for the ASE proofs. Gut tells me they are coming. Gut is usually right unless I ate pizza. No pizza in the last week! >>



    I've got the same feeling...also I'm hold out for the "hockey pucks"...image >>


    If they'd scrap the hockey pucks they could produce some proof ASEs

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • CiccioCiccio Posts: 1,405 ✭
    So, who's buyng the proof AGE tomorrow and what denomination?
    I should go with a tiny little 1/10. I am tempted to buy 2 of them or just 1x1/4.
    If only I could use my eBay bucks at the Mint website...
  • pf70collectorpf70collector Posts: 6,645 ✭✭✭
    nope.
    i bought two 2008 $5 Proof AGEs and they are dead in the water. These will be high mintage coins-no potential other than gold content. Have at em. My gold expenditures went into the Buch Gold Spouses this year.
    Montana State Quarter Die Clash

    Box of 20
  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    I think that I'd buy the 1 oz. Proof Gold Buff before I'd buy any of these. Just my opinion.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CiccioCiccio Posts: 1,405 ✭


    << <i>I think that I'd buy the 1 oz. Proof Gold Buff before I'd buy any of these. Just my opinion.image >>



    I would too...but I doubt they will sell me 1oz Buff for $180.5! image
    Why don't they make fractional Buffalos anymore?!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Why don't they make fractional Buffalos anymore?! >>



    Insufficient demand to justify production costs.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>

    << <i>Why don't they make fractional Buffalos anymore?! >>



    Insufficient demand to justify production costs. >>



    Disagree. Since when does the mint concern itself with production costs? It's not like they have stockholders to appease. The 08W's were backordered up to the eyebrows. I believe it to be more of an allocation of resources to meet required gold eagle bullion demand. I'm surprised they got off of some of the AGE bullion blanks to produce proof AGE's, but probably did so to somewhat satisfy their collector customers and keep up the visits to the website.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Today's the day. Who's in? I may go for a couple tenths or a quarter. My fund group friends are looking at buying possibly too. They're trying to get in the metals game other than etfs.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Why don't they make fractional Buffalos anymore?! >>



    Insufficient demand to justify production costs. >>



    Disagree. Since when does the mint concern itself with production costs? It's not like they have stockholders to appease. The 08W's were backordered up to the eyebrows. I believe it to be more of an allocation of resources to meet required gold eagle bullion demand. I'm surprised they got off of some of the AGE bullion blanks to produce proof AGE's, but probably did so to somewhat satisfy their collector customers and keep up the visits to the website. >>



    If your suspicion is correct, than why the low mintage? If I recall, they were available for some time during the year.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CiccioCiccio Posts: 1,405 ✭
    I just received my first AGE proof (unfortunately 1/10 oz only!).
    I have to say that is a beautiful coin in a very nice package!
    Can't wait to afford a bigger size! image
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>I just received my first AGE proof (unfortunately 1/10 oz only!).
    I have to say that is a beautiful coin in a very nice package!
    Can't wait to afford a bigger size! image >>



    Pic'simage
    Avid collector of GSA's.
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