Buying Proof Gold Eagles From Marketplace
Proofmorgan
Posts: 924 ✭✭✭✭✭
There is a seller that has a few sets OGP:
1986 1 oz
1987 2 coin set
1988 4 coin set
1990 4 coin set
He's willing to sell for spot at the time. Any concerns or anything to look out for? I don't have a tester or anything like that. It's a little odd that he doesn't just move them at a dealer, unless he'd getting low ball offers. Are fakes pretty easy to spot on these?
Thoughts?
Collector of Original Early Gold with beginnings in Proof Morgan collecting.
0
Comments
Plenty of concerns and things look for. Do they have a return policy if the items to out to be fake? Do you have a way to check them?
I'm not familiar with Marketplace but in general I would prefer to pay a little more to a reputable, preferably known to me seller,
JMHO
boston
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Return policy, nothing set in stone. I would likely buy the one oz and if that checks out go back for more later. I wouldn't bite off a lot unless I knew it was legitimate. More or less seems like he got them in trade or in exchange for work. All packaging and in the capsules.
Ideally I'd like to get them tested, but I can't see a dealer doing that unless there was something in it for them as part of the transaction.
It they weren't proof, I'd surely hit them with a magnet at least. But popping out proof coins and hitting them with a magnet might seem intrusive I'd think.
I have found some good deals on marketplace but I have a Sigma PMV. I would not buy US mint products from anyone (including a shop) except a direct Mint purchase without an instrument to authtencate the gold or silver content.
Your pics do look authentic however, that's a start. Spot is a good price for virgin proofs in their packaging.
When gold and silver move together, it signals the coming end of fiat money.
Find a dealer that will test them Before you buy.
From the pictures, gold in mint packaging looks pretty good.
I had a member reach out to sell me a sigma at a good price….so I guess that is the answer. I’ll keep you all posted.
Proof AGE's are intricately made coins in nearly perfect condition, with the intent to make them nearly impossible to fake to any reasonably trained collector/dealer eye. Far easier to go the route of making fake bullion rounds and bars....or even Unc Gold Eagles. And this with orig. mint packaging makes it even that more unlikely.
Now let's say a seller sends you something that your Sigma PMV determines to be fake. What's to prevent the seller from claiming that you switched coins on them?
He's probably getting low ball offers, Im at 5% back, and everytime I offer locally, they pass, but then come back. At this price point, proofs IMO dont sell as well as straight bullion eagles. A couple of the firms we sell too, often will discount the 4pc sets a bit compared to individual unc coins of same. I assuming its because of high spot gold price. It wasnt long ago you could buy this set for 4k, now its over 8k
I would make sure they are legit, I personally have never had a fake come in the door of these, but a few dealer freinds have
One thing also, hazy coins are discounted by several firms that we ship too as well.
When possible Sigma should be used in face to face transaction payments.
I won an ebay case on a counterfeit purchase by sending a pic of the coin on my Sigma.
When gold and silver move together, it signals the coming end of fiat money.
Most buyers of Mint proofs buy because they collect, not as a bullion play. However when prices then skyrocket they will likely be sold as bullion. In the case of the OP, spot is a great price, making these coins an excellent bullion or resell play. A few of the coins pictured may even get a perfect grade if they have never been removed from the mint caps.
When gold and silver move together, it signals the coming end of fiat money.
Sound advice, exception is I personally believe the sigma is easily fooled. Nothing against shops but it blows my mind the amount of metal I have sold the past few months and they just grab it, throw in case and hand me a fistful of cash. Do some kind of check, not only to protect yourself but more importantly your future buyer. Know what you are buying and have multiple authentication methods to guarantee authenticity. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
On average...for a new gold coin....how much of a premium are we talking about to a regular American Gold 1-ounce eagle.....2-3% ? I believe it was closer to 5% when gold was under $2,000 (at least for a graded DCAM 70).
Right now, Scotsman is buying -38 selling +160, so just a bit over 3%
Jack Hunt paying Spot +.25% for 1oz AGEs, Spot - $45.00 for 1oz Proof AGEs. I have seen this from multiple dealers where they are paying less for proofs compared to regular bullion eagles. I got rid of all my proofs some time ago (storage concerns). I just like tubes compared to all the bulky boxes. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
For the life of me I can't see anyone but a "speculator" buying Gold at these levels. I have no insight into anything except my own thoughts, but it seems to me that the chance of Gold going down is greater than up. Might as well climb into a coffin that's already in the ground and ask someone to fill in the hole.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin