@jmlanzaf said:
Happens every week. Same with foreign gold, look at sovereigns in the Thursday foregin coin auctions. It sells for >bullion price with the BP because PEOPLE KNOW HOW TO BACK OUT THE BP FROM THEIR BIDS, regardless of what >some here believe.
I just hadn't seen it like this in a LONG time...granted, I haven't been as dilligent in watching the weekly auctions in the last year or so....but I couldn't remember so many right on the nose and the same amount with that BP backed out even with all of them being in various OGHs.
Of course, given the coins were common, not unexpected given that buyers had alternatives as opposed to more difficult-to-obtain Saints.
What I want to know is....why are the SELLERS taking $3,500 (or a bit less) instead of going through other channels to get closer to the real retail gold melt price of ~$4,200 ?
@GoldFinger1969 said:
What I want to know is....why are the SELLERS taking $3,500 (or a bit less) instead of going through other channels to get closer to the real retail gold melt price of ~$4,200 ?
It defies logic. I can easily get spot minus 3% for my less desirable pre 1933 gold. Granted, I live in California and have multiple options but still getting scalped $400-500 is excessive.
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Perhaps Heritage is the owner of the coins.
If you own the coins and the auction house, why not run them through your own venue ?
Comments
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A mystery to me too.
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Perhaps Heritage is the owner of the coins.
If you own the coins and the auction house, why not run them through your own venue ?
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