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Todays Grab and grading question ASE 1999

tneigtneig Posts: 1,505 ✭✭✭
in Precious Metals
So, this is today's grab I just got this 1999 AGE for $1660 cash and carry...

What kind of grade can be used in this case. Its been handled of course and touched on both sides,
but is in crisp condition. Can it be giving any grade like VF, AU, BU. Or, is it just not applicable?

Looking at Apmex, I see its relative sell value is $1720. Just wondering if it should be treated like
bullion or if its date/AGE/clean value gives it more numeristic value over the years?

image
COA

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Bullion all unc AGE & ASE were made & sold as bullion. 1999 was high mintage.
    Avid collector of GSA's.
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>So, this is today's grab I just got this 1999 AGE for $1660 cash and carry...

    What kind of grade can be used in this case. Its been handled of course and touched on both sides,
    but is in crisp condition. Can it be giving any grade like VF, AU, BU. Or, is it just not applicable?

    Looking at Apmex, I see its relative sell value is $1720. Just wondering if it should be treated like
    bullion or if its date/AGE/clean value gives it more numeristic value over the years?

    image >>



    Back in the days of Gold at $600, there was a premium for AGE's that equated to about $600-$700. However, since the jump in Gold the bullion value out paced the numismatic value so just about all Raw AGE's are going for SPOT.

    Assuming no other costs, you paid $1,660. Spot (Ask) right now is: $1,620.10

    You paid 2.4% over spot which is not bad. Some places charge as much as 3% over asking spot which is: $1,668.73 (when I typed this).

    To earn 5% you will need to sell your AGE 1oz for $1,752.17 (What you paid + 10%)
    To earn 10% you will need to sell your AGE 1oz for $1835.61 (What you paid + 10%).

  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    As I understand it:

    Ask Spot is what the dealers will sell you bullion usually + a certain percentage.

    Bid Spot is what the dealers will buy your bullion, usually - a certain percentage.

    Ask is ALWAYS higher than bid. (From what I have seen).

    Oh, and I built an excel tracker that helped me with those numbers above image
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    One more thing... What I mentioned about the AGE premium back in the days... That was not an additional 600-700, that meant a Bullion 1 oz AGE in MS70 would bring in about $700 total. Where as the lower grades would bring in Spot (Which was $600 in my example).

    Ray
  • tneigtneig Posts: 1,505 ✭✭✭
    Thanks much for all the info. I'll consider it a nicely recognizable bullion.

    At 58yrs, this goes into "my ace in the hole stash" and plan on holding for about 10 years, then selling at a good price or spike within a few+/- years window. Or barter it for a years food or repairs on the house or such, in some future homestead in W.V. Caveat: If spot hit $2200+ on some frenzy beforehand, I'd sell it.

    (I see those 5% - 10% number possibilities happening very easily at anytime, just as easily as a similar drop.)
    COA
  • derrybderryb Posts: 36,791 ✭✭✭✭✭
    no "extra" premium for most bullion gold eagles unless graded 70

    Your title says "ASE"

    "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

  • MsMorrisineMsMorrisine Posts: 33,012 ✭✭✭✭✭
    I wouldn't call it an ace in the hole, just gold paid for near melt.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭


    << <i>no "extra" premium for most bullion gold eagles unless graded 70

    Your title says "ASE" >>



    Yeah, I was surprised to see gold too.image
    Becky
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