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Bought some US gold from the mint.........

PerryHallPerryHall Posts: 46,138 ✭✭✭✭✭
in Precious Metals
Several months ago I bought two Proof HOF $5 gold coins from the US Mint the day after they had sold out. They put me on standby in case of other's orders not being filled because of cancelled orders, bad checks, declined credit cards, etc. I long ago gave up ever seeing them until yesterday when I got an e-mail telling me that they had shipped. Did I do okay with this purchase? Are these coins just bullion these days or do they have any real numismatic value in the secondary market? The mint said they charged my credit card for $849.50 so I'm paying a little less than $200 for the packaging. LOL. I also ordered two of the Uncirculated versions but it's very unlikely that I'll ever see those.

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

Comments

  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    Worst case: You should be able to flip them for some profit

    "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

  • CoulportCoulport Posts: 1,087 ✭✭✭
    Prices have dropped since the initial excitement but as of two weeks ago at a local show one dealer was paying $625 for the proof. It could be lower now as they seem to be raising fund to buy the gold Kennedy at the ANA show.
    The most money I made are on coins I haven't sold.

    Got quoins?
  • jmski52jmski52 Posts: 22,858 ✭✭✭✭✭
    Once the backlog at the Mint was obvious, I cancelled my order for (1) each of the HoF coins. Before that, I had already decided not to jump in with any investment money because of the higher mintages.

    The gold coins will do alright if you bought them from the Mint, I don't think that you'll ever go below issue price. Everyone who got them seems to like the way they look.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • PerryHallPerryHall Posts: 46,138 ✭✭✭✭✭
    Thanks for the replies so far. Do dealers usually pay more when they are in the original unopened box? If the box has been opened, there is always a possibility that someone was looking for 70's to get submitted for slabbing and the raw coins weren't 70's. Or, am I overthinking this?

    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

  • jmski52jmski52 Posts: 22,858 ✭✭✭✭✭
    If 70s start to generate hefty premiums, then your unopened box will probably realize more than a 69-graded coin but less than a 70 grade. If the 70s drift lower, then the unopened box will drift lower as well.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>Thanks for the replies so far. Do dealers usually pay more when they are in the original unopened box? If the box has been opened, there is always a possibility that someone was looking for 70's to get submitted for slabbing and the raw coins weren't 70's. Or, am I overthinking this? >>



    Often the case.
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