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Which would you consider a better value at melt?

tydyetydye Posts: 3,894 ✭✭✭
in Precious Metals
AU-low MS Saints or 1 oz AGEs. I do not buy many 20s or 1 OZ AGEs as I prefer the fractionals. I did not expect the saints to be at spot. Even so I passed as I did not have that kind of money right now. Dealers near me had lots of gold this week.

I did pick up a $10 but for about $25 over.

imageimage

Comments

  • morgantypemorgantype Posts: 456
    If I was only paying spot I would go with the Saints.

    Enjoy, I wish we had those deals out here.
    Many buy and sell transactions. Let's talk!
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    The Saint !!!
    Timbuk3
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Saints every time.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    AGE, always.

    "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

  • ttownttown Posts: 4,472 ✭✭✭
    Me it's the classic coins like the Saints to protect the downside. Even at golds lows you couldn't touch a $20 gold piece for under $425 while the GSE's haven't been tested since they weren't around last time the k-rands and maple leafs could be had for under $300 at the same time.

    There's really so many what's considered "common" coins in the $5, $10, and $20 series you can have an impressive run without dups and get the best of both worlds IMO. Funny some of those so called common coins aren't so common when trying to find em.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    At melt shouldn't the Saints be 90% of spot? At spot price I'd go with AGE'simage
    Avid collector of GSA's.
  • tydyetydye Posts: 3,894 ✭✭✭


    << <i>At melt shouldn't the Saints be 90% of spot? At spot price I'd go with AGE'simage >>



    That was factored in. The price on the Saints was lower than the AGEs since they do not contain a full oz. The Saints were 16 something on wednesday when I was looking at them.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    OK, I was confused as you paid $25 over for the $10 Indian.
    Avid collector of GSA's.
  • tydyetydye Posts: 3,894 ✭✭✭
    Only the 20s and large AGEs were spot. Smaller sized stuff was over. And I like $10 Indians
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>

    << <i>At melt shouldn't the Saints be 90% of spot? At spot price I'd go with AGE'simage >>



    That was factored in. The price on the Saints was lower than the AGEs since they do not contain a full oz. The Saints were 16 something on wednesday when I was looking at them. >>



    A Saint has .9675 Troy oz of pure gold. If I could get them at melt I'd take the pre-1933 gold coins over the modern AGE's as long as they were problem free and were at least AU.

    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

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    << A Saint has .9675 Troy oz of pure gold. If I could get them at melt I'd take the pre-1933 gold coins over the modern AGE's as long as they were problem free and were at least AU. >>

    A TPG holder is also a must (for authenticity, not grade).

    My Adolph A. Weinman signature :)

  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    A Saint has .9675 Troy oz of pure gold. If I could get them at melt I'd take the pre-1933 gold coins over the modern AGE's as long as they were problem free and were at least AU. >>



    This. And if they're certified NGC or PCGS (or even ANACS), I'd be on top of the world.

    You have to be careful with authenticity of smaller gold issues (particularly $2.5 & $5 indians). And you need to be careful of all gold series in this type of bullion play, because I'd view even a wiped AU details gold piece to be much less desirable than a gold eagle.

    I think you did very well with the $10 indian.
    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
  • CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭


    << <i>AU-low MS Saints or 1 oz AGEs. I do not buy many 20s or 1 OZ AGEs as I prefer the fractionals. I did not expect the saints to be at spot. Even so I passed as I did not have that kind of money right now. Dealers near me had lots of gold this week.

    I did pick up a $10 but for about $25 over.

    imageimage >>



    Seriously, was he offering to sell undamaged one ounce gold American Eagle coins at melt, which in this case would be spot?

    Dealers can wholesale one ounce gold eagles to other dealers at over melt/spot. Why would he sell them retail at melt/spot?

    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.
  • tydyetydye Posts: 3,894 ✭✭✭


    << <i>Seriously, was he offering to sell undamaged one ounce gold American Eagle coins at melt, which in this case would be spot?

    Dealers can wholesale one ounce gold eagles to other dealers at over melt/spot. Why would he sell them retail at melt/spot?

    >>



    I am a good customer.
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>

    << <i>Seriously, was he offering to sell undamaged one ounce gold American Eagle coins at melt, which in this case would be spot?

    Dealers can wholesale one ounce gold eagles to other dealers at over melt/spot. Why would he sell them retail at melt/spot?

    >>



    I am a good customer. >>



    Also, one has to consider the expense (shipping and insurance) and the time to send it to another dealer and then the time to wait for that dealer's check to arrive and to hopefully clear.

    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

  • VikingDudeVikingDude Posts: 1,342 ✭✭✭


    << <i>

    << <i>

    << <i>Seriously, was he offering to sell undamaged one ounce gold American Eagle coins at melt, which in this case would be spot?

    Dealers can wholesale one ounce gold eagles to other dealers at over melt/spot. Why would he sell them retail at melt/spot?

    >>



    I am a good customer. >>



    Also, one has to consider the expense (shipping and insurance) and the time to send it to another dealer and then the time to wait for that dealer's check to arrive and to hopefully clear. >>



    And just the hassle of shipping plus the chance of things getting lost/ stolen in the mail.
  • CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭
    Economics 101 Question:
    .
    So, if the average dealer has all of these expenses and risks involved in getting rid of bullion that he buys in over the counter, not to mention the risk that the gold market might go down before he can get rid of it, what is a fair percentage under melt that he should pay, in order to be able to stay in business, that nobody will complain about?
    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.
  • derrybderryb Posts: 36,790 ✭✭✭✭✭


    << <i>Economics 101 Question:
    .
    So, if the average dealer has all of these expenses and risks involved in getting rid of bullion that he buys in over the counter, not to mention the risk that the gold market might go down before he can get rid of it, what is a fair percentage under melt that he should pay, in order to be able to stay in business, that nobody will complain about? >>


    He should pay one-half a percent more than his competitors. image

    Expenses and risk will vary from dealer to dealer. Unfortunately there is no magic formula for something that is determined by market participants who act on their emotion (fear and greed).

    The decision should factor in the fact that PMs are in a bull market that just got greatly extended by QEX.

    "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

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    derryb is correct and I would also select the AGE..... Cheers, RickO
  • CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭


    << <i>

    << <i>Economics 101 Question:
    .
    So, if the average dealer has all of these expenses and risks involved in getting rid of bullion that he buys in over the counter, not to mention the risk that the gold market might go down before he can get rid of it, what is a fair percentage under melt that he should pay, in order to be able to stay in business, that nobody will complain about? >>


    He should pay one-half a percent more than his competitors. image

    Expenses and risk will vary from dealer to dealer. Unfortunately there is no magic formula for something that is determined by market participants who act on their emotion (fear and greed).

    The decision should factor in the fact that PMs are in a bull market that just got greatly extended by QEX. >>



    Ah, a price control advocate!
    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.
  • derrybderryb Posts: 36,790 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Economics 101 Question:
    .
    So, if the average dealer has all of these expenses and risks involved in getting rid of bullion that he buys in over the counter, not to mention the risk that the gold market might go down before he can get rid of it, what is a fair percentage under melt that he should pay, in order to be able to stay in business, that nobody will complain about? >>


    He should pay one-half a percent more than his competitors. image

    Expenses and risk will vary from dealer to dealer. Unfortunately there is no magic formula for something that is determined by market participants who act on their emotion (fear and greed).

    The decision should factor in the fact that PMs are in a bull market that just got greatly extended by QEX. >>



    Ah, a price control advocate! >>


    Sellers control prices asked, buyers control prices paid. image

    "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

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