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If I wanted to jump on the bullion bandwagon, is this a good price for common date Saints?
Longacre
Posts: 16,717 ✭✭✭
I got an email from a very large organization, attempting to whip me up into a frenzy over the price of gold, and getting in on the ground floor before the price per ounce really soars. Below is a partial cut and paste of the text of the email. What do you think of these prices? What do you think about the "premium over spot" that they quote and compare from prior years? Or should I just stick with First Spouse coins? Please answer quickly before the price of gold goes up another $100 today!!!!!!
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"Is $1,500 an ounce gold possible? With the way things are going it seems so. Now is a great time to grab some $20 St. Gaudens as many believe, and experts have predicted, that gold bullion will reach $1,000 to $1,200 an ounce over the next year.
Plus, as the U.S. dollar continues to weaken, I believe gold is the best store of value to protect your assets - your savings - and numismatic gold is even better. Here’s why:
First, $20 St. Gaudens move with gold bullion prices. Should gold bullion reach $1,200 an ounce an MS63 certified St. Gaudens, based on today’s numismatic premium, will be selling for $1,595; MS64’s at $1,835 and MS65’s at $2,340. With the devaluation of the U.S. dollar, $20 St. Gaudens would be worth even more in today’s dollars.
Also, the premium $20 St Gaudens are trading over spot metal prices is historically low. In the late 1990’s MS63 $20 St. Gaudens were trading for a 107% premium over spot gold. If that were the case today, MS63 Saints would be selling for $1,728 each! MS64’s, which had a 205% premium, would be $2,545 and MS65’s at 285% premium over spot gold would be trading for $3,215 each! If there is a shortage of $20 St. Gaudens on the market - with demand getting stronger it is likely - today’s historically low premiums will not last.
Take a look at the offer below and call XXX-XXX-XXXX to reserve the grades and quantities you want.
$20 St. Gaudens Special: PCGS or NGC Certified
MS63 $20 St. Gaudens $1,115 each
MS64 $20 St. Gaudens $1,280 each
MS65 $20 St. Gaudens $1,630 each
Please note: Dates and grading service are of our choice and prices are subject to change due to market fluctuations. If paying by credit card additional fees apply. Call for details."
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"Is $1,500 an ounce gold possible? With the way things are going it seems so. Now is a great time to grab some $20 St. Gaudens as many believe, and experts have predicted, that gold bullion will reach $1,000 to $1,200 an ounce over the next year.
Plus, as the U.S. dollar continues to weaken, I believe gold is the best store of value to protect your assets - your savings - and numismatic gold is even better. Here’s why:
First, $20 St. Gaudens move with gold bullion prices. Should gold bullion reach $1,200 an ounce an MS63 certified St. Gaudens, based on today’s numismatic premium, will be selling for $1,595; MS64’s at $1,835 and MS65’s at $2,340. With the devaluation of the U.S. dollar, $20 St. Gaudens would be worth even more in today’s dollars.
Also, the premium $20 St Gaudens are trading over spot metal prices is historically low. In the late 1990’s MS63 $20 St. Gaudens were trading for a 107% premium over spot gold. If that were the case today, MS63 Saints would be selling for $1,728 each! MS64’s, which had a 205% premium, would be $2,545 and MS65’s at 285% premium over spot gold would be trading for $3,215 each! If there is a shortage of $20 St. Gaudens on the market - with demand getting stronger it is likely - today’s historically low premiums will not last.
Take a look at the offer below and call XXX-XXX-XXXX to reserve the grades and quantities you want.
$20 St. Gaudens Special: PCGS or NGC Certified
MS63 $20 St. Gaudens $1,115 each
MS64 $20 St. Gaudens $1,280 each
MS65 $20 St. Gaudens $1,630 each
Please note: Dates and grading service are of our choice and prices are subject to change due to market fluctuations. If paying by credit card additional fees apply. Call for details."
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
<< <i>I got an email from a very large organization,.... >>
Name of this company?
Worry is the interest you pay on a debt you may not owe.
Voltaire: Paper money eventually returns to its intrinsic value---zero.
Further, if you consider MS-63 Saints as old bullion (as I do), they shouldn't have much premium at all, let alone a fantasticly high one. If this bullion market continues, and I believe that it will - I would expect the premiums for MS-63 and then MS-64 Saints to diminish as the price of gold washes out any numismatic considerations.
A 28% premium on an MS-63 Saint. It's never going to be a rare coin. Nah, I'd rather buy a 2007-W Burnished Unc American Platinum Eagle (current mintage = 3,054; projected mintage = 4,500 max.) at 11.7% over spot from the Mint. You get the potential appreciation and a possible low mintage kicker that has low grade Saints beat every which way.
I knew it would happen.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>You should be able to get all the PCGS or NGC 63 saints you can handle at about $970 each. >>
In your dreams
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>Gold will probably hit $1500 to$2250 an ounce with no problem. >>
Russ, NCNE
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
CG
<< <i>$1500 an oz ? extremely unlikely. if not impossible. >>
It may take many years but gold will eventually exceed $1500. Ever hear of inflation?
Worry is the interest you pay on a debt you may not owe.
Voltaire: Paper money eventually returns to its intrinsic value---zero.
Gold Buffalo $873.00
Gold Eagle $859.40
1927 Saint AU $914.67
Proud Participant in Operation "Stone Holey" August 7, 2008
Bandwagons should have been jumped on three years ago. It's almost near the end of the road.
<< <i>It may take many years but gold will eventually exceed $1500. Ever hear of inflation? >>
If inflation were actually a factor, gold would have passed $1500 long ago.
Russ, NCNE
Edited to add: total inflation during that time period was 43% or an annual rate of 4.3% Gold was a great hedge against inflation.
<< <i>If you want to ride the gold wave, why buy Saints or any other coin that carries a large premium over spot? Every dollar of premium over spot is money that is not in gold--it is in numismatic value which is not tied to the gold price. You are better off with Gold Eagles. And even there you will be buying gold at a premium over spot, which means of course that gold has to go up further by at least that much in order for you to break even.
CG >>
Or just invest in much more liquid ETF's. No paypal fees or dealer margins to deal with there.
MS 62 $910/$945
MS 63 $960/$1000
MS 64 $1130/$1195
MS 65 $1425/$1460
Spreads are narrow on these so if you pay much over the ask end you're working with the wrong dealer.
WH
<< <i>The wholesale buy/sell spreads today for sight unseen NGC/PCGS Saints is:
MS 62 $910/$945
MS 63 $960/$1000
MS 64 $1130/$1195
MS 65 $1425/$1460
Spreads are narrow on these so if you pay much over the ask end you're working with the wrong dealer.
WH >>
Thanks Wayne... I think that is what was really being sought out.