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1896 S $20 Lib at melt

tlake22tlake22 Posts: 299 ✭✭
in Buy, Sell, & Trade - U.S. Coins
That's right I have a $20 Lib that was ex jewelry piece. It has been buffed.Other than that, no problems. $1575 delivered. No fee paypal,check or money order. Thanks for looking.

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Comments

  • commoncents05commoncents05 Posts: 10,093 ✭✭✭
    Nice to see someone who knows the difference between "melt" and "spot" when it comes to $20s.

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>Nice to see someone who knows the difference between "melt" and "spot" when it comes to $20s.

    -Paul >>



    Yikes!
    Can you please educate me on the difference.
    I tried doing a search on these forums but nothing came up for melt vs spot.
    Much appreciated.
    Thanks.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • TwinturboTwinturbo Posts: 493
    Spot: price per oz of 24k gold
    Melt: actual gold value of item at current spot price.

    Since a $20 lib is actually slightly under an oz of 24k gold, hes selling the coin at melt.

  • commoncents05commoncents05 Posts: 10,093 ✭✭✭
    "Spot" is what you see looking at Kitco, which is the price for one full ounce of fine gold. Since a $20 gold piece does not have a full ounce of gold (it weighs more than 1 ounce but is only 90% pure), "melt" is equal to "spot" times actual gold weight (AGW). AGW for a $20 is 0.9675 ounces.

    Spot = $1620
    Melt = 0.9675 x $1620 = $1567

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
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