What may one expect for selling 1/2oz modern gold commems at a local show?
Bochiman
Posts: 25,381 ✭✭✭✭✭
I don't collect these, but I ended up with some.
If I try to sell at a local show this weekend, should I be able to expect spot price? Or, will I likely be lowballed to something much worse? 5% back? 10%?
4 are raw and 1 is in a NGC PF64 holder.
Just wondering what to expect as I was going to keep just for the gold but I think I would rather have AGEs or something instead.....
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
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I would assume 5% back of melt. Try to haggle for even up on pre-33 US gold as those are being bought back of melt as well.
Good to know, thanks.
I do have a 1901 PCGS MS62 $10 that I am thinking about taking to sell as well.
(remembered I need a new lawn mower.....my john deere rider blew its 2nd engine in 7 years last fall....found out that the "entry level" JD riders are pretty crappy and this is common)
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Even as in swap modern commems for pre-33 gold? Are there actually dealers out there that would do this swap? I would think no dealer in their right mind would do a strait up swap.
I always see commems at spot or just under even when the market is much stronger. Premiums are in the dumps everywhere right now. I just saw Apmex (via Ebay) offering to sell $5.99 over spot right now on 1 oz AGE if you purchase 10oz / bank wire payment. If a major online retailer is dumping 1oz AGE at $5 over spot I'm guessing the sell to dealer price for modern commems is going to be pretty ugly.
To the OP I would say it's a pain in the butt but I would attempt to sell the commems to another collector at or near spot then go purchase your AGEs from a dealer since premiums are so low.
The whole worlds off its rocker, buy Gold™.
I just hope you're not soured on John Deere.
Terrible about the tractor. Sure hope I don't experience that, mine is 2 years old but I only mow a few acres for about half the year. She's been great so far.
I would hang onto the $10 eagle if possible. Dump the moderns to put towards the tractor if need be.
The whole worlds off its rocker, buy Gold™.
Sadly enough, I am.
$1500 mower, $600+ replacement engine.
Yeah.....I'm done with them I think.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I was doing 3/4 acre from april-september.
When it went TU this second time (first time, parts from engine literally FLEW...found 3-4 in my yard that day), I took it to a shop and they said it was common with the entry level ones (1xx series...mine was 115)
Everything about it was still "like new", including the actually new battery, but I was so peeved I just told him to keep it for his fees instead of me parting it out....I was done fixing it.
Likely going to get a Honda self-propelled, walk behind, now. Kind of want the 3rd bay in the garage available since my son is now driving and has a car.
So, I figure, if the price is right to sell a couple of ounces of gold, I pay for the mower as well as an AGE or two.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Good luck Ron.... I assume you will be trying to sell at the PNNA show coming up. Let us know how bullion is moving right now.... prices seem to be down, but, as always, depends on the coin to some extent. Cheers, RickO
John Deere sucks . I have a little part time property management gig for an older friend who can't mow his own lawn for health reasons. He has 6 acres and a kubota tractor and 2 John Deere diesel ride on mowers and its impossible to keep the Deeres in service for an entire season. These are 3 cylinder diesels that while the engines are unkillable the mower deck is fine there are constant issues with starters alternators basically anything electrical is junk. A starter for one costs as much as a cheap ride on mower and he needed starters in both probably every other year. The Kubota has a flail type mower deck which can cut anything but part of the property is too wet to use that as it will get stuck too often.
I think the deere mowers were 8000 bucks each
, imagine paying that much for a lawnmower and being unable to get an uninteruppted season out of it.
Stupid designs , liquid cooled with the radiator behind the engine with an electric fan that vacuums up grass clippings and backs them around the radiator , the dust covers clog up with clippings every hour or so you have to stop and blow them out with a compressor or blow a head gasket. My nephew is pretty good about keeping an eye on it but someone who liked to drive around with a six pack and mow that didn't keep an eye on the temp gauge would blow it up in a day.
Here there are dealerships where you rent the thing for a season and they come out and do maintenance or some such program.
Ron, I've been selling $5 modern gold commems on Ebay (they're about 1/3 oz), and have been grossing about $350 per.
Here's a warning parable for coin collectors...
Actually they're a little less than 1/4 oz. Same weight as the US gold half eagles minted from 1834 to 1929.
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
sure but go to home depot and buy a ride on mower for 1000 and get 3 seasons out of it without ever changing a filter then throw it away and its cheaper than boarding the John Deere train to bankruptcy
Under the lease deal I don't think that you'd be liable for repairs. I don't need a rider so I never really looked into it. Just another possibility.
Sorry to disappoint you, but they are a slightly less than 1/4 oz
Sorry to disappoint you but this was already stated three posts ahead of yours.
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
I'm sorry I disappointed you. I entered the weight of the coin in error. My bad. Thanks for correcting it.
Anyway, that is the dollar amount they generally are going for for me on Ebay these days.
Here's a warning parable for coin collectors...
I understand the feeling. Hoping my mower of 50+ years doesn't quit.
It's a push mower and if it quits that means the pusher quit.
bob
You're all disappointing!
The bottom line is most of the first spouse gold coins are treated as bullion in the marketplace similar the half ounce AGE.
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
Give a report back on your sell attempts
Thanks. That is not too bad. Local dealer at show today said, for the $5 modern commems, he is paying ~$312 or so.
You, literally, JUST got here to post that before I was coming here to do it
So, I really only went to 1 dealer to try. I was wasting my limited time chatting with SeattleSlammered and Swampboy (not a waste of time though....both really good guys and I love catching up with them) so I was tight on time. Local dealer, who has been good at giving me some deals when I buy, was paying 98.5% of spot. Given what Jinx had said and others I have talked to have said, gold is soft right now, more than just a soft metal
So, I took the 98.5% and ended up with cash + NGC MS70 1 oz AGE ($30 over spot). Since the best I have seen on ebay was for a raw one for ~$20-25 over spot, I may have overpaid a few dollars but I was ok with that as I have further business to do with Steve. Haven't seen him for over a year and he still remembered my name and invited me to a party tomorrow night, at his local shop, for customers and dealers. So, I don't mind spending that extra $10-$30 with him on this piece. The holder/grade means nothing to me, to be honest, so I look at it as bullion.
Could I have done better on the sell? Maybe. Not as quick, friendly, or easily though.
Could I have done better on the buy? Again, maybe. End of the day, I have to evaluate my time/effort as well as future business transaction and what each is worth. Some people want to wring every little penny out of every single transaction. I love a deal, but I deal with people and so I take each transaction as its own and go from there.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Surprised you did that well on your sale. I was expecting you would be offered 85-90% of melt. Being offered 98.5% of melt is fantastic for a modern commemorative. Good deal for you.
The whole worlds off its rocker, buy Gold™.
The John Deeres sold at Lowes or Home Depot aren't really John Deeres. My X340 is about 12 years old and although it costs about $400/year to pay a shop to remove the mower & install the blade or vice versa, (includes an annual tuneup), it's much better than the throw-away Troy-Bilt that I've had for about 15 years. The main thing I don't like is that they made it impossible to change the deck & blade by yourself. The newer models, you can.
I knew it would happen.
12 years times $400 is $5000 over the cost you paid for the deere so how many throw away troy builts would that be? you could fill a 3 bay garage with troy builts for $5000 if you bought them 15 years ago
the deere thing is the gilette business model times 10 , gillette at least would give you the razor for free so they could pork you for a decade with the overpriced blades, with Deere they bend you over at the beginning too.
Also the whole 2 different grades of Deere mower idea should put you off the brand forever if true. Its disgusting if you think about it , oh we make another one that is junk that has our name on it too
guess which one you have ?
The guy that I work for with the John Deeres even buys the stupid John Deere branded oil , he will tell you with a straight face that its better than walmart oil . That John Deere employees lovingly fill each bottle of oil with magic oil from the special John Deere refinery. They buy 55 gallon drums of walmart oil and pour it into green bottles with special John Deere approved funnels is the true story.
98.5 is very good
The Troy Bilt is seldom used for the past 10 years, for a very good reason - it sucks.
The John Deere dealer is a rip-off so I don’t use them, but the real JD equipment is 5X better.
I knew it would happen.