If you could buy 4 late '80's $5 gold modern commems today (1/9/06) @ $528/oz would you do it?

CoinHusker · January 9, 2006 9:49AM

fc · January 9, 2006 9:52AM

I would rather spend a bit more and get a recognized 1 oz bullion coin or bar.

edited: As in .999 fine, 1 oz. The type jewelers might buy on a regular basis. I often see sold on ebay.

CoinHusker · January 9, 2006 11:42AM

Very interesting.

ttown · January 9, 2006 11:54AM

It's better than buying a bullion coin IMO. The 1987's can be had for $125 or a little less plus shipping but it's hard to find some of the common commems for bargins now. There's nothing wrong with buying gold below spot and there's a lot of cool coins in the commems.

You might want to look at the $10 olympic coins in P,D, and S proofs they are low mintage that most don't really realize and can be had for $260 to $275 range.

CoinHusker · January 9, 2006 12:19PM

thanks again.

CoinHusker · January 9, 2006 11:30PM

Any ideas from the morning crowd?

AgMe · January 10, 2006 12:31AM

No, I always think about things in a "relative value" sort of way; when you think about how gold was ~$265 USD just a few years ago, you have to wonder how much of the current price is just speculation; we've seen house prices in one of my areas 2.5x in 5 years... but at the same time prices for just about everything else has dropped...

A lot of specualtion in:

Gold
Oil
Real estate

Price of pizza ~36 years ago, plain large 1 topping: $27 USD
Price of gold coin 1 oz: $38 USD

Price of pizza now: 1 large Supreme, stuffed crust, hand tossed, deep dish: $5.50 USD
Price of 1 oz generic gold: $548 USD

Has a very "dot com" feel to it all.

~g

robertpr · January 10, 2006 12:34AM

Comparing Pizza to Gold - now I've seen it all

So where can I go to get historic Pizza prices?

bonkrood · January 10, 2006 12:41AM

Price of pizza ~36 years ago, plain large 1 topping: $27 USD

I'm glad I didn't put a dozen of those in my safety deposit box, Big loss........and a little smelly.

sorry OT.

CoinHusker · January 10, 2006 12:49AM

I don't know if that helps me with my question, but boy, I'm getting hungry.

JDelage · January 10, 2006 1:27AM

Yes, of course. If you don't want to hold gold at current prices, then buy those coins at $528 and sell them at $540. If you are willing to buy and hold at current prices, you should be even more at lower prices. I'd buy them if I knew where they are.

AgMe · January 10, 2006 3:03AM

<< Comparing Pizza to Gold - now I've seen it all

So where can I go to get historic Pizza prices?

>>

It's funny, while at the office, we were discussing prices of various items vs. gold; since pizza is something consumed at least once per week (think of the kid's after game party), I like to think it's a good measure since it is bought, somewhat often... we also use gas, cars & clothes.

...I could work at the Fed

Edit: I also have the "WSJ" factor... times are good when the paper is thick & vice versa...

~g

DiscountGuy · January 10, 2006 3:32AM

Buy PORKBELLIES only, why you ask, with all the fat people in the world including myself, we always tend to eat to much, so if people stop eating PORKBELLY prices would drop. I don't see peoples stomachs gettong any smaller,so buy PORKBELLIES now!! why the price is still cheap. Or is it POTBELLIES I mean?

BillJones · January 10, 2006 5:28AM

In sense I'm "buying" a number of these common mid to late 1980s commemorative gold coins because I'm holding them in my collection instead of selling them. They are all part of a set I've put together of the cherry wood box sets. I think a lot of these sets are becoming an endangered species because many of them are being broken up for bullion and slabbling. There could be a future for these sets, which could be like "poor man's Pan-Pac set in the copper frame," but I dare say that the gold bullion value might be a better bet if you wanted to make money.

I'm not going to sell them because the collector in me wants to keep them. Collectors are illogical beings, but they also often the most knowledgeable beings. For the latter reason, collectors often make money on their collections in the long run while many so-called “investors” end up loosing their shirt.

michael · January 10, 2006 5:46AM

NO

michael · January 10, 2006 5:47AM

well if i can get them in their original packaging with aLL THE coa and get them at melt or slightlyless than melt then yes i would buy them

100proof1957 · January 10, 2006 5:55AM

yep !

from what ive seen,you cant touch em for close to melt !

Slabs anyway in 69 or 69 dcam

dont forget 5 eagles are 1/10 oz

5 commems are 1/4 oz !

JDelage · January 10, 2006 6:05AM

Depending on which series they are, they might be wildly avaialable on eBay for - basically - melt value, with box. That's especially true of the Constitution proof set, but also of some Olympics, of the Liberty set, etc. I've bought several recently.

291fifth · January 10, 2006 6:09AM

No. Melt bucket items at this gold price.

Deadhorse · January 10, 2006 6:31AM

Basically you are buying gold bullion for less than spot.

I don't see any downside. Of course I'd buy them, in fact I have been picking them off eBay over the last couple months for similar prices.

Sometimes the set gets several bidders and goes a little crazy, oftimes there may only be one or two bids. Those are the ones I've been grabbing.

Buying gold at less than spot is a hard offer to resist.

CoinHusker · January 10, 2006 7:04AM

Many thanks!

I pulled the trigger on 2 (1 Proof & 1 UNC) 1986 $5 gold Statue of Liberty's @ $132 each in original pkg with papers. I like Bill's idea on the sets in the wood boxes though but I couldn't resist these 2 at the price.

JDelage · January 10, 2006 7:19AM

<< I pulled the trigger on 2 (1 Proof & 1 UNC) 1986 $5 gold Statue of Liberty's @ $132 each in original pkg with papers. >>

Not quite 2% over melt, so cheaper than buying bullion Eagles (sold by mint to retailers at 3% over melt). Not bad - of course, shipping needs to be factored in.

BillJones · January 10, 2006 7:23AM

You know if people really start to melt these common commemorative coins in droves, they might be that common any more.

I sold a Statue of Liberty three piece set and the Constitution and 1988 two piece sets at FUN. The buyer wanted no part of the boxes or papers, which means, he's slabbing them (not likely since he didn't look hard enough to grade them), selling them to Shop at Home or throwing them into the melting pot.

JDelage · January 10, 2006 7:29AM

<< I sold a Statue of Liberty three piece set and the Constitution and 1988 two piece sets at FUN. The buyer wanted no part of the boxes or papers >>

BillJones, I have a Liberty 3-piece set and a 88 Olympics 2-piece set without COAs. If you still have them and would consider sending them to me I'd love to have them...

CoinHusker · January 10, 2006 7:45AM

<< 

<< I pulled the trigger on 2 (1 Proof & 1 UNC) 1986 $5 gold Statue of Liberty's @ $132 each in original pkg with papers. >>

Not quite 2% over melt, so cheaper than buying bullion Eagles (sold by mint to retailers at 3% over melt). Not bad - of course, shipping needs to be factored in. >>

That is with s/h.

ttown · January 10, 2006 9:20AM

<< 

<< 

<< I pulled the trigger on 2 (1 Proof & 1 UNC) 1986 $5 gold Statue of Liberty's @ $132 each in original pkg with papers. >>

Not quite 2% over melt, so cheaper than buying bullion Eagles (sold by mint to retailers at 3% over melt). Not bad - of course, shipping needs to be factored in. >>

That is with s/h.

>>

I don't think you'll go wrong, some people tend to pay more for a bullion coin with an PCGS MS69 grade. Now look at the $10 Olympic coins that don't get any respect, many times you can get the W mint mark for less than bullion but the P,D, and S proofs don't seem to bring much more than spot but are hard to find.

1984 Olympaid

1984 P proof mintage- 33,309
1984D proof mintage- 34,533
1984S proof mintage- 48,551
1984W proof mintage- 381,085

If you could buy 4 late '80's $5 gold modern commems today (1/9/06) @ $528/oz would you do it?

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