I may crack out $50 gold from unc. 2006-W 4 coin sets

2manycoins2fewfunds · October 15, 2007 11:25PM

Just for discussion................Seperate from your bullish/bearish view of gold prices...........

I have 10+ of the 2006-W uncirculated 4 coin gold sets........ mint sealed.
I'm considering cracking out the $50/1 ounce coins and selling them as bullion to bring my average cost down on the remaining 3 coins.
As I recall the sets cost me $1350.

I can't see much benefit to keeping the $50/1 ounce other than a bet on the rise or fall with spot gold price.
If I sell off the $50/1 ounce coin it will bring my cost down to around $600 for the remaining 3 coins which I believe have potential for appreciation beyond spot gold price.

Thoughts??

MoneyCollector · October 15, 2007 11:30PM

I did just that a week or 2 ago and got $755.xx each from my local bullion guy. In my mind the 1 ozers are bullion. The fractionals I will keep.

Randy

clouisejewelers · October 15, 2007 11:32PM

The $50 is currently cheap, IMO. I purchased a 2-coin anniversary set a few weeks ago for $750. People are letting emotion cloud their judgement and dumping sets that are not currently in demand. The gold 1 ouncer alone is worth that and the set also contains the highly desirable 2006 W unc silver eagle, a $100 coin.

If you are going to invest the proceeds into other coins, go ahead and sell. I think gold is on its way up and 1 ounce eagles are the best way to own gold. I would hold them at this time.

FLBuffaloHunter · October 15, 2007 11:37PM

The 2006-W $50 AGE is a high mintage issue due to it's inclusion in the anniversary sets. The 2007-W will likley have a much smaller mintage. Personally, I would open the sets and if I thought they had a chance at MS70 I would have it graded before I sold it. The others you can sell raw or as bullion since that is about all you will get.

Coinlearner · October 15, 2007 11:52PM

Will be a little expensive at first, but I would {did} get all graded. The 70"s you get will more than offset the$ outlay. Had 4 70"s on 2 sets. No sense leaving money on the table.

2manycoins2fewfunds · October 16, 2007 12:02AM

I looked at the PCGS population reports.
Looks like around 1/6 of submitted 1 ounce coins from this series grade MS70.
I believe at current market a MS70 will bring around $1050-$1150+
On average the cost to score 1 MS70 out of 5-7 submissions with grading costs plus S/I both ways might bring a small overall profit.
What I'll likely do is cherrypick best 3-4 examples out of 20..........submit those and dump the rest.

Dabigkahuna · October 16, 2007 12:21AM

What is the price of a 2006-W sealed box now, $1500 - $1600?
Seems you would still be able to do okay by keeping the set whole. Maybe just sell one of the sets to lock in the profit?

Larry
Dabigkahuna

2manycoins2fewfunds · October 16, 2007 1:10AM

<< <i>What is the price of a 2006-W sealed box now, $1500 - $1600?
Seems you would still be able to do okay by keeping the set whole. Maybe just sell one of the sets to lock in the profit?

Larry
Dabigkahuna

>>

Even though the new US Mint price is in that $1500-$1600 range it might be tough as an individual to move any quanity at that price.
I also think the market for the fractionals will get better with time so I'm inclined to keep them even if effective cost is $750-$800 for the 3.......($1500 minus $750 for 1 ounce gold).

I may crack out $50 gold from unc. 2006-W 4 coin sets

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