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Lunch newp

WeissWeiss Posts: 9,934 ✭✭✭✭✭
Thought this was interesting (anecdotal) evidence of the loss of spread on numismatic pieces as bullion rises.

Walked into the shop today and my dealer says "I've got something you might like"

He just bought it from a collector who'd had it in his deposit box for several years and who had probably bought it from my dealer originally. As always his philosophy of a quick flip for a quick buck instead of sitting on inventory came into play.

He quoted me a price at melt, and I figured what the heck? I was short $20 so I went to the ATM around the corner. When I got back he said he'd slightly underestimated the weight. But he kept his word and sold it to me for $325 out the door. I believe it weighs 8.4 grams of .9166 purity (.246 oz agw). With gold at $1357, melt would be ~$333.

A slabbed, relatively high grade gold coin from the 18th century for less than melt.

image


We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • jmski52jmski52 Posts: 22,299 ✭✭✭✭✭
    For melt? Heck yeah.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Just a $1.50 per year for a 216 year old coin. Gold too!

    Wonder what the darkside fans have to say about that WAY COOL pickup?
    Avid collector of GSA's.
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "Just a $1.50 per year for a 216 year old coin."

    Yeah, really not a bad deal. Actually a very nice coin righteously acquired and certainly worth having. Probably should be stopping by regularly w/CASH...very nice!
  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    Great coin at a really good price.image

    Worry is the interest you pay on a debt you may not owe.

  • bestmrbestmr Posts: 1,761 ✭✭✭
    I think that deserves a you suck award. image
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • calleochocalleocho Posts: 1,569 ✭✭
    Great deal ..it has to be my favorite "lunch newps"!
    "Women should be obscene and not heard. "
    Groucho Marx
  • WeissWeiss Posts: 9,934 ✭✭✭✭✭
    Thanks, guys. It's about as far from a SHTF gold buy as possible, but I just couldn't pass it up.

    image


    image
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    To me it's way more interesting than a $5 Liberty any day~JMHOimage
    Avid collector of GSA's.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    world gold is very interesting. Nice pickup
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭


    << <i>Thought this was interesting (anecdotal) evidence of the loss of spread on numismatic pieces as bullion rises.

    Walked into the shop today and my dealer says "I've got something you might like"

    He just bought it from a collector who'd had it in his deposit box for several years and who had probably bought it from my dealer originally. As always his philosophy of a quick flip for a quick buck instead of sitting on inventory came into play.

    He quoted me a price at melt, and I figured what the heck? I was short $20 so I went to the ATM around the corner. When I got back he said he'd slightly underestimated the weight. But he kept his word and sold it to me for $325 out the door. I believe it weighs 8.4 grams of .9166 purity (.246 oz agw). With gold at $1357, melt would be ~$333.

    A slabbed, relatively high grade gold coin from the 18th century for less than melt.
    >>



    A sovereign of 20 shillings has a net gold weight of 0.2354 tr. oz.
    A guinea of 21 shillings would be 5% more, or 0.24717 tr. oz.
    At $1357 gold it melts at $335.40
    TD
    Nice hit!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

  • On the buy side, it's amazing the coins that can be bought with little to no premium. Nice coin you have.
    Flip side as a Seller, crappola ..... what happened to the premium I paid on this thing.
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