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PCGS MS63 $20 Libs for melt?

RedHerringRedHerring Posts: 2,077 ✭
in Precious Metals
Several 1904 PCGS MS63 $20 Libs closed on B&M Nov. 5th auction at $1275! They were $1466 w/juice but still. I can't believe it.

It's been 2 years ago, when gold was $750, since MS63 certified $20 Libs went that cheap. Keep you eyes open. You may be able to get them under melt soon! image

Comments

  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭
    I'm a tad worried that many a collector coin will become just so much bullion - losing most if not all of their premiums over melt as a new reality settles in.
    Will be curious to see how bust coinage and large coppers react.
    My theory is that the cream will still rise while many a high premium on relatively common coins will sink $10 indians come to mind.

    ...
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>I'm a tad worried that many a collector coin will become just so much bullion - losing most if not all of their premiums over melt as a new reality settles in.
    Will be curious to see how bust coinage and large coppers react.
    My theory is that the cream will still rise while many a high premium on relatively common coins will sink $10 indians come to mind. >>



    In my book they've always been just overpriced older bullion coins.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    It's a 15% spread. Seems high for bullion, but common classic gold has always been high.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The price on those MS63 $20 Libs were promoted up to >75% premium last year. It can certainly be done again. At 15% premium to melt they would stupid cheap, as would any MS63 classic gold coin. Those premiums are still up in the >30% range. Hard to say if things like the Gold Line fiasco put a dagger into generic gold that still needs to be removed. I don't ever see $20 Libs in 63 or higher being melted....at least not until $3000+ gold.

    Those low prices must have been misprints as Heritage and others are ready buyers of those for 4-8% under retail at any time. It was a screw up of some sort. Those are not real prices. $20 Libs in 63 would not have crashed independently of all other $20 Libs and Saints.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RedHerringRedHerring Posts: 2,077 ✭


    << <i>Those low prices must have been misprints as Heritage and others are ready buyers of those for 4-8% under retail at any time. It was a screw up of some sort. Those are not real prices. $20 Libs in 63 would not have crashed independently of all other $20 Libs and Saints. >>



    That's what I thought but there they are..B&M must have been shocked by the $1275 hammer price as much as we are.

    I agree those are not market indicative prices. Heritage, eBay, Teletrade all still pull around $1900 for PCGS MS63 $20 Libs.
  • MrBearMrBear Posts: 379 ✭✭✭
    About a month ago I bought a few generic double eagles from Heritage Tuesday auctions for around $1500 (1900, 1907, 1908, 1912 - I think all were MS62/3 with one being a 64). I thought I was doing well until I remembered the 15% premium tacked on. Oopsie.

    Not feeling that bad about it now, though. image
    Occasionally successful coin collector.
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