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This has to be a record price for bullion.....ever!

DIMEMANDIMEMAN 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!!!image

Comments

  • commoncents05commoncents05 Posts: 10,096 ✭✭✭
    Oh great, another thread with dimeman complaining about something...

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
  • youniqueyounique Posts: 882 ✭✭✭
    Originally posted by: commoncents05
    Oh great, another thread with dimeman complaining about something...

    -Paul


    Free to dismiss the post as anyone might.
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    I'm always amazed by the buyers who feed the flippers.

    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. image
  • OverdateOverdate Posts: 7,143 ✭✭✭✭✭
    Originally posted by: DIMEMAN
    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!!!image

    Typical price is more like $285. Lots of "classic" gold fetches much higher prices per ounce.

    My Adolph A. Weinman signature :)

  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    I suspect Dimeman is looking at a 70 grade coin somewhere.

    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

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • DollarAfterDollarDollarAfterDollar Posts: 3,215 ✭✭✭✭✭
    I'm with Dimeman on this one. There are plenty of honest E-Bay Sellers that sell real coins at fair prices yet people are stupid enough to overpay for bullion. When they realize later on they've been hosed it's not bullion Dealers who take the rap, it's "Coin Dealers".

    The drag us all down.
    If you do what you always did, you get what you always got.
  • sparky64sparky64 Posts: 7,041 ✭✭✭✭✭
    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.




    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

  • bronco2078bronco2078 Posts: 10,425 ✭✭✭✭✭


    Here is a link to a low priced example from a eminent online seller


    anyone charging more than these guys is probably suspect





  • ShortgapbobShortgapbob Posts: 2,332 ✭✭✭
    It's all goo Paul. Let's just keep playing with boring classics....haha.
    "It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle

    For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.

    The Reeded Edge
  • Cougar1978Cougar1978 Posts: 8,725 ✭✭✭✭✭
    The flippers are sharp businessmen who know how to profit from the short window in the USM product slab game.The buyers must be really wealthy people is all I can figure. They are the end user for sure.

    We're these offered to me on the bourse my best offer wb BV plus $15.
    Coins & Currency
  • derrybderryb Posts: 37,564 ✭✭✭✭✭
    Originally posted by: DIMEMAN
    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!!!image

    You shoulda bought some. image

  • BoosibriBoosibri Posts: 12,370 ✭✭✭✭✭
    I just find there to be nothing numismatically interesting about modern bullion coins regardless of their current values. Other do and that works for them.
  • hchcoinhchcoin Posts: 4,836 ✭✭✭✭✭
    Supply and demand
  • BAJJERFANBAJJERFAN Posts: 31,236 ✭✭✭✭✭
    Originally posted by: bronco2078





    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!image
    theknowitalltroll;
  • johnny9434johnny9434 Posts: 29,070 ✭✭✭✭✭
    how about a link to that?
  • PerryHallPerryHall Posts: 46,732 ✭✭✭✭✭
    Originally posted by: DIMEMAN

    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!!!image




    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.image

    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

  • kookoox10kookoox10 Posts: 538 ✭✭✭
    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?
  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    Perry... You can buy a top of the line graded 70FS PCGS coin for $491.25 right now so even that $600 price is inflated.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • PerryHallPerryHall Posts: 46,732 ✭✭✭✭✭
    Originally posted by: kookoox10

    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

  • OverdateOverdate Posts: 7,143 ✭✭✭✭✭
    The distinction between "real" coins and "bullion coins" is somewhat misplaced. Gold coins in circulation in the 19th century were "bullion" coins accepted in trade for their precious metal content. Sometimes merchants would accept well-worn gold coins only at a discount to face value.

    My Adolph A. Weinman signature :)

  • OverdateOverdate Posts: 7,143 ✭✭✭✭✭
    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!!!imageimage

    My Adolph A. Weinman signature :)

  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    The early flippers were getting $300 each on eBay

    They're down to $240 - $250 today.

    I guess eBay ran out of the smart people willing to pay $300.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    what Boosibri said in capital letters.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: Overdate
    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!!!imageimage


    If you can't see the difference between a 1822 half eagle and this gold thingy made yesterday....there is no hope for you.

  • RichieURichRichieURich Posts: 8,547 ✭✭✭✭✭
    I would guess that the gold-plated state quarters sold on the TV shows include gold at well over $6,000 per ounce.

    An authorized PCGS dealer, and a contributor to the Red Book.

  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    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

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: 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??image

  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    Not the coin I am looking for. In fact, very few coins on a percentage basis.

    Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: 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!image

  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    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! image

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: 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! image

    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!image

    You keep doing what you like and I will keep doing what I like.image

  • 7Jaguars7Jaguars Posts: 7,691 ✭✭✭✭✭
    LOL. OK, I agree about the ridiculous values placed on technical NON-ENTITIES such as "First Strikes" - when in fact, as has been discussed many times such labelled coins are not guaranteed to be that. On the just-offered 2016 gold Mercury dimes, supposedly about 1900 coins were struck from each pair of dies and as we know 5 or 10k coins, even of special issues, can be cranked out in barely a heartbeat or two.
    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.
    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • OverdateOverdate Posts: 7,143 ✭✭✭✭✭
    Originally posted by: DIMEMAN
    Originally posted by: Overdate
    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!!!imageimage


    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 :)

  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: Overdate
    Originally posted by: DIMEMAN
    Originally posted by: Overdate
    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!!!imageimage


    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.

  • OverdateOverdate Posts: 7,143 ✭✭✭✭✭
    Originally posted by: DIMEMAN
    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 :)

  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    Originally posted by: Overdate
    Originally posted by: DIMEMAN
    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)".

  • coinkatcoinkat Posts: 23,776 ✭✭✭✭✭
    Interesting thread... with a variety of perspectives. Bullion coins may not always remain bullion coins for reasons delineated by collectors and even investors. And coins with the intent of having collector value in some instances have been reduced to bullion value. At some point in time, the landscape will change. What will be the significant at some point is the surviving population of certain collector coins that were shunned and melted to the point that they either have or will become rare.

    Experience the World through Numismatics...it's more than you can imagine.

  • kiyotekiyote Posts: 5,588 ✭✭✭✭✭
    Yes, it's crazy, huh? It's dumb people pay so much for something like that. Now, if you'll excuse me, I'm going to go pay $1.89 at Taco Bell for 5 cents worth of carbonated water and sugar, a 4 cent cup and 2 cents worth of ice.

    Don't check out the modern art world. You wouldn't believe what some people have paid for $10 worth of paint on a $35 canvas.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.

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