I am a sucker but I have a question

Coin Finder · December 18, 2003 8:52AM

I recently got bit by the gold bug. I went to a local coin shop and looked at their American Eagle gold coins. They were nice. I picked out the nicest tenth ounce coin. It is a 1988.

I paid $40 bucks for it. Is this a better date. It is flawless.

Thanks
MArk

Russ · December 18, 2003 8:54AM

You picked up a tenth ouncer for $40? Is this dealer living in a cave?

Russ, NCNE

Dollars · December 18, 2003 8:58AM

I do not buy gold at this time, but I have been shopping price and I think I must agree with Russ. A fine deal indeed.

Coin Finder · December 18, 2003 8:58AM

Serious as a heart attack!!

40 bucks.

My first gold coin.

Tbig

DaveG · December 18, 2003 9:00AM

According to the 12/12 Grey Sheet, the 1988 1/10th oz. Gold Eagle has a Bid price of $142 in Uncirculated and $55 in Proof.

It sounds like you got a steal.

(Even if it's not a 1988, the cheapest Bid price for a BU 1/10th Gold Eagle is $42.)

Coin Finder · December 18, 2003 9:01AM

It has roman numerals. The dealer doesnt pay attention to dates he just moves bullion.

Tbig

MadMarty · December 18, 2003 9:02AM

My dealer sold one today, charged the guy $55 for a 1/10 ounce.

Russ · December 18, 2003 9:05AM

Yep, you ripped it. A quick check of eBay shows they are bringing every bit of the bid that Dave just posted. I'd suggest you head back to this dealer like right now and buy more!

Russ, NCNE

Dollars · December 18, 2003 9:06AM

My first gold is from the darkside. Did not buy for the gold, got it for the ol' lady. A 20 Frac Rooster. a cool coin if I do say so myself.
I do want a eagle just because. I am not in the league to but an ounce. I was thinking of a half or a quarter..

Where is this dealer of yours......

DaveG · December 18, 2003 9:09AM

The Gold Eagles had Roman numerals from 1986 to 1991.

Assuming that the 1988 BU 1/10th actually sells for that much, it sounds like your dealer bought it from someone else who doesn't check their dates.

Frankly, if it were mine, I'd sell it and buy a 1/4th Gold Eagle or else a nice Coronet half eagle.

Marty: Your dealer got some fool to pay $55 for a 1/10th Gold Eagle? Have I got a bridge for that guy!

coppercoins · December 18, 2003 10:23AM

The title of this thread says you have a question, although I don't see a question in any of the posts...nice pick up on the gold.

Russ · December 18, 2003 10:30AM

<< <i>Is this a better date. >>

He just forgot the correct punctuation.

Russ, NCNE

coppercoins · December 18, 2003 10:41AM

Oh, my mistake. I didn't see it.

It's a bullion coin, I don't see how the date much matters.

Russ · December 18, 2003 10:48AM

<< <i>It's a bullion coin, I don't see how the date much matters. >>

In this case, it matters a great deal since he paid less than 1/4th of what the coin is bringing in the marketplace.

Russ, NCNE

BAJJERFAN · December 18, 2003 11:12AM

Do dates really matter on this bullion stuff? A year and a half or so ago I had nearly a full set of the one ounce gold eagles and a couple extra low mintage year 2000's. I took em to a dealer when gold started to go up and he couldn't have cared less about dates. I sorta regret selling so hastily but I did need a quick sale and I bought a nice 93-s Morgan with the $$$.

dddangerousdan · December 18, 2003 11:27AM

A couple months ago I picked up a 1/10 for $30 off ebay

, spot then was $355

DAN

Bochiman · December 18, 2003 1:22PM

Cool deal.

Question...for those with the latest greysheets/knowledge...what is a 1986 BU 1/4 oz GAE worth?
I have one we want to sell since the wife wanted gold at first, we got this, then she decided she wanted Australian Lunars and not the US ones.....
So, I have to see if it is worth selling right now.

Thanks,

Ron

slothman2000 · December 18, 2003 2:08PM

I was in a coin shop last week...lookin for liberty nickels and not realy payin attention...and this guy walks in and is lookin at the few gold coins that this dealer had for sale and haden't marked up since gold has been goin up...he had some nice 20 dollar liberty gold pieces from say 1900 on up...nothin special...but they were marked low...say in the 430-450 range...the guy says i'll take this one ..and this one ...and this one ..etc....needless to say I went in a couple days later and the rest that he had were all over 500..there are some deals to be had...some dealers will sell at what they have the coins marked at...some won't mark the coins and pull out the grey sheet and quote you a price...Happy Shopping!!!!

DaveG · December 19, 2003 8:37AM

Bochiman,

The BU 1986 1/4 Gold Eagle is Bid at $104; Ask is $109 (Gold at $407) according to the 12/12 Grey Sheet.

This is typical of the series, so this would be a common coin price.

sinin1 · December 19, 2003 9:04AM

who cares what the grey sheet says from3 weeks ago

gold is traded every minute of the day somewhere in the world I think (New York, England, South Africa, Malaysia, Australia) - if cash gold is $402.50 this second

bullion coins need to be basis + 10-20%

I am a sucker but I have a question

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