Lunch newp
Weiss
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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.
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.
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I knew it would happen.
Wonder what the darkside fans have to say about that WAY COOL pickup?
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!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Groucho Marx
--Severian the Lame
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<< <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!
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.