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This has to be a record price for bullion.....ever!
DIMEMAN
Posts: 22,403 ✭✭✭✭✭
On ebay I saw several of the gold Merc bullion commem. thingies going for $600.
They are 1/10th OZ. of gold.
That's $6000 a oz. gold!!!
They are 1/10th OZ. of gold.
That's $6000 a oz. gold!!!
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-Paul
Oh great, another thread with dimeman complaining about something...
-Paul
Free to dismiss the post as anyone might.
Don't they know they can buy directly from the Mint?
Maybe they missed out but still why not wait until the supply increases before shelling out 3x the issue price.
On ebay I saw several of the gold Merc bullion commem. thingies going for $600.
They are 1/10th OZ. of gold.
That's $6000 a oz. gold!!!
Typical price is more like $285. Lots of "classic" gold fetches much higher prices per ounce.
My Adolph A. Weinman signature
Anyway, it is not uncommon for super low pop, rare, modern bullion coins to fetch upwards of $25,000 or even $30,000+ an ounce these days (I recently tried to purchase a modern bullion gold coin for the equivalent of $40,000/oz, which I would have been happy to pay, but was countered at $68,000 an ounce which I passed on as a prior example had sold for about $38,000 or so a few years back). So, Dimeman is a bit out of touch with his surprise to see upwards of a $6,000/oz. bullion price.
Yes, Dimeman .... as surprising as it may appear to you, just a half dozen to ten ozs. of the right PCGS graded bullion coins in top grade are possibly worth more than your entire collection of a century or two of dimes.
Draw any conclusions you desire from that statement. I know some very smart folks that would probably want the 6 to 10 hand picked "bullion" ozs. over your entire run of dimes. That is because the value of even (10) ozs. of specially selected bullion coins could equal or possibly exceed $300,000.00 - $400,000.00 today. I have no idea what Dimeman's set is worth right now ... perhaps he can share whether he thinks it is valued well over that amount if he desires. My point of this thread is to simply educate Dimeman on the amazing value of just 6-10 ozs. of the right bullion coins today.
The key for everyone ... enjoy your coins!
Wondercoin
The drag us all down.
I'm willing to bet that your post is an eye opener to many.
Well said.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
Here is a link to a low priced example from a eminent online seller
anyone charging more than these guys is probably suspect
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
We're these offered to me on the bourse my best offer wb BV plus $15.
On ebay I saw several of the gold Merc bullion commem. thingies going for $600.
They are 1/10th OZ. of gold.
That's $6000 a oz. gold!!!
You shoulda bought some.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Latin American Collection
Here is a link to a low priced example from a eminent online seller
anyone charging more than these guys is probably suspect
In stock, but no ship until may? HMMM!
On ebay I saw several of the gold Merc bullion commem. thingies going for $600.
They are 1/10th OZ. of gold.
That's $6000 a oz. gold!!!
Were these $600 coins raw or slabbed? It does make a BIG difference especially if the grade is PCGS MS70 First Strike. Also, eBay isn't the most reliable source for real market pricing. I've seen too many examples of coins and other merchandise that's grossly overpriced by an eBay seller trolling for a sucker with more money than sense. As someone already pointed out, it all comes down to supply and demand. I might pick up a couple after the hysteria dies down. If I see some at a good price I'll let you know so you can complete your Mercury dime set.
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
Wondercoin
I hear a lot of talk about this being bullion. But can it be called a commemorative as well? The only reason I bring that up because it's dubbed as a centennial and it's a single year exclusive. And would that make any difference in how it's labeled to coin purists?
People who are trying to denigrate this coin are calling it bullion. Unless a coin trades close to it's melt value, it can not be considered to be bullion. That said, there are many modern gold commemorative coins that are now trading as bullion.
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
My Adolph A. Weinman signature
They are less than 1/4th oz. of gold.
That's more than $20,000,000 an oz. gold!!!
My Adolph A. Weinman signature
They're down to $240 - $250 today.
I guess eBay ran out of the smart people willing to pay $300.
Estimated value of the 1822 half eagle is about $5,000,000.
They are less than 1/4th oz. of gold.
That's more than $20,000,000 an oz. gold!!!
If you can't see the difference between a 1822 half eagle and this gold thingy made yesterday....there is no hope for you.
An authorized PCGS dealer, and a contributor to the Red Book.
Wondercoin
Dimeman ... Forget high priced bullion coins, I just posted a buy for a "First Strike" label at $10,000 an ounce today over on the BST board! LOL
Wondercoin
But won't they ALL be First Strike??
Wondercoin.
Not the coin I am looking for. In fact, very few coins on a percentage basis.
Wondercoin.
I have no doubt you have a buyer(s) for these FS MS70 for moon money.
But I sure wouldn't want to be the one holding them when the music stops!
Interestingly, now 5 years later, the FS coin doubled from there while the non-FS is roughly the same price to about 10-20% less.
Obviously, no one has a crystal ball what the next 5 years will bring.
I have noticed a similar pattern with the 2015 HR in MS70FS. I sold the first one on ebay for a board member at around $6,500 last year in a true ebay auction opening at $1. Not bad for a coin he had just purchased for $1,490 from the Mint that I got back from grading for him about a week or so later. Now, just a half year later, they are trading at about $12,000. In fact, I will buy one sight seen for $11,250 today just to have one in stock. Perhaps the guy that bought my ebay coin at $6,500 will sell it back to me at $11,250 today and guarantee that when the music stops he made nearly $5,000 in 7 months!
Wondercoin
Dimeman: The history of these specific FS coins is very interesting. I actually graded the very first (2) 70PL coins ever back in 3/11. If memory serves me right, at that point, the price of the coins was roughly $7,500 - $8,500 for the 70FS (earliest sales on ebay), while the non-FS was around a $5,000 -$5,500 coin. Some folks felt the 50% premium was too much.
Interestingly, now 5 years later, the FS coin doubled from there while the non-FS is roughly the same price to about 10-20% less.
Obviously, no one has a crystal ball what the next 5 years will bring.
I have noticed a similar pattern with the 2015 HR in MS70FS. I sold the first one on ebay for a board member at around $6,500 last year in a true ebay auction opening at $1. Not bad for a coin he had just purchased for $1,490 from the Mint that I got back from grading for him about a week or so later. Now, just a half year later, they are trading at about $12,000. In fact, I will buy one sight seen for $11,250 today just to have one in stock. Perhaps the guy that bought my ebay coin at $6,500 will sell it back to me at $11,250 today and guarantee that when the music stops he made nearly $5,000 in 7 months!
Wondercoin
I don't understand the desire for these modern commems in 70 FS.....I really don't.
But you better count your blessings that I will never get in.......because if I did it would TANK in a heartbeat!
You keep doing what you like and I will keep doing what I like.
An actual first strike from any of these dies would likely be superior at least by a bit to those struck toward the end of that die's life; there is no definitive method of identifying order of release versus order of striking. This of course is somewhat simplifying it, but it makes the label "First Strike" basically meaningless except for as a TPG label entity....
That having been said, I rather like these special gold strikes and keep a specimen of each in OGP even if that packaging is rather bulky. I don't view the Merc just released as an actual Mercury dime - rather a comem just as it purports to be, and not at such a crazy IMO price.
FWIW, I agree if these were looked at as investments, commoners such as us would probably take a bath.
Well, just Love coins, period.
Estimated value of the 1822 half eagle is about $5,000,000.
They are less than 1/4th oz. of gold.
That's more than $20,000,000 an oz. gold!!!
If you can't see the difference between a 1822 half eagle and this gold thingy made yesterday....there is no hope for you.
The difference is that only one of these coins is the target of endless put-downs about how inferior and overpriced the coin is, and why people should not be spending their money on it.
My Adolph A. Weinman signature
Estimated value of the 1822 half eagle is about $5,000,000.
They are less than 1/4th oz. of gold.
That's more than $20,000,000 an oz. gold!!!
If you can't see the difference between a 1822 half eagle and this gold thingy made yesterday....there is no hope for you.
The difference is that only one of these coins is the target of endless put-downs about how inferior and overpriced the coin is, and why people should not be spending their money on it.
I have never said people should not spend THEIR money on these. All I have ever said is that I don't understand it and that I never will. Other people can buy what they want...it's their money.
I have never said people should not spend THEIR money on these. All I have ever said is that I don't understand it and that I never will. Other people can buy what they want...it's their money.
On another thread you said, "To a lot of people (including me) modern commems have no interest at all and the EXTRA amount for First Strike is just plain silly and a waste of money." To me that appears as a criticism of how other collectors spend their money.
My Adolph A. Weinman signature
I have never said people should not spend THEIR money on these. All I have ever said is that I don't understand it and that I never will. Other people can buy what they want...it's their money.
On another thread you said, "To a lot of people (including me) modern commems have no interest at all and the EXTRA amount for First Strike is just plain silly and a waste of money." To me that appears as a criticism of how other collectors spend their money.
You are taking it out of context. The KEY here is "to a lot of people (including me)".
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