Common ms62 St. Gauden

compromonedas · October 25, 2007 11:36PM

I pull the trigger today. Are this at a good price?

Item Description Qty Taxable Unit Price Item Total
item1 Common Date NGC/PCGS MS62 $20 St. Gaudens (website) 27 N US $865.00 US $23355.00
Keith

guitarwes · October 25, 2007 11:46PM

did you buy 27 of these???........geeeesh.

ricko · October 25, 2007 11:51PM

Wow... step away from the gun.... stick that trigger finger up your nose. Does not look like a deal to me. Cheers, RickO

compromonedas · October 25, 2007 11:52PM

That's all I can buy at this time.I was just wondering about the price, looks cheap!
Keith

FilthyBroke · October 25, 2007 11:54PM

<< did you buy 27 of these???........geeeesh. >>

You sure that's gonna be enough??

jmj3esq · October 25, 2007 11:56PM

I think you could get MS63s for that money.

compromonedas · October 25, 2007 11:57PM

<< Wow... step away from the gun.... stick that trigger finger up your nose. Does not look like a deal to me. Cheers, RickO >>

Where you can buy it below $865?

ttown · October 25, 2007 11:58PM

NCG/PCGS graded 63's for less than $100 over spot, won't happen.

compromonedas · November 5, 2007 11:43PM

<< Wow... step away from the gun.... stick that trigger finger up your nose. Does not look like a deal to me. Cheers, RickO >>

Looking better now?
Keith

compromonedas · January 2, 2008 1:22AM

Now I can answer my own Question. Yes
Keith

RBinTex · January 2, 2008 3:27AM

Would've been MUCH more efficient to just buy an e-mini.

Let's compare:

10/26/07

27 coins - cash out $23,355

1 e-mini (33.2 ounces - i.e. 1 kilo - of gold) - cash out $0 (cash tied up - earning interest - $810)

Cost of holding 27 coins for 67 days (@ approx 4% p.a.) from 10/27/07 (probably not the "settlement date" for buying the coins)
$23,355*.04*67/365= $171.48

Interest earned on "margin requirement" of $810 - $5.95

Net difference $177.43 in base carrying cost PLUS the value of NOT tying up ($23,355-$810) $22,545 PLUS the cost of the risks involved in performance (of the seller), shipping, storing, etc.

Value today of 27 coins = ? (needs to be higher than $965.83 each to beat the e-mini)
Value today of 1 e-mini = $28,618 (33.2*$862 as of 12:20p CST 1/2/08) - profit $862-$780 (approx price on 10/26/07) = 82*33.2=$2,722.40

SeattleSlammer · January 2, 2008 3:36AM

RBinTex, looks like you've got it all figured out.

Man, is there a reason people are flaming this guy?

compromonedas · January 2, 2008 3:57AM

<< Would've been MUCH more efficient to just buy an e-mini.

Let's compare:

10/26/07

27 coins - cash out $23,355

1 e-mini (33.2 ounces - i.e. 1 kilo - of gold) - cash out $0 (cash tied up - earning interest - $810)

Cost of holding 27 coins for 67 days (@ approx 4% p.a.) from 10/27/07 (probably not the "settlement date" for buying the coins)
$23,355*.04*67/365= $171.48

Interest earned on "margin requirement" of $810 - $5.95

Net difference $177.43 in base carrying cost PLUS the value of NOT tying up ($23,355-$810) $22,545 PLUS the cost of the risks involved in performance (of the seller), shipping, storing, etc.

Value today of 27 coins = ? (needs to be higher than $965.83 each to beat the e-mini)
Value today of 1 e-mini = $28,618 (33.2*$862 as of 12:20p CST 1/2/08) - profit $862-$780 (approx price on 10/26/07) = 82*33.2=$2,722.40

Yeah Keith, you're a genius (ala $40k for an AU 69-S DDO

) >>

MS62 are at over 1G each and I already have an offer for way more that what I paid for the 1969-S DDO. You ask me in a PM what I paid for this coin and now you are posting the PM on a thread. You are a man with good ethics and a very mature one, I admire you so much that I have a picture of you in my office. Please get a life!!!
Keith

RBinTex · January 2, 2008 8:04AM

The point you're missing is that with the same $23k or so, you could have made nearly 30 times the profit on the coins (given the leverage) with the futures.

DUH

roadrunner · January 2, 2008 8:09AM

Sure.....if you played the futures...and prices stayed up. Hindsight works great.

In any case at $865 you ripped those MS62's. They are over $1000. Good job. And you still have the safety of many ounces of
gold to fall back on.....not the case with futures or any other paper bet. When the SHTF, paper won't do.
Even AU Saints are now at $1000 each.

roadrunner

compromonedas · January 2, 2008 8:28AM

Thank you Brian.
Keith

gecko109 · January 2, 2008 8:42AM

<< Sure.....if you played the futures...and prices stayed up. Hindsight works great.

In any case at $865 you ripped those MS62's. They are over $1000. Good job. And you still have the safety of many ounces of
gold to fall back on.....not the case with futures or any other paper bet. When the SHTF, paper won't do.
Even AU Saints are now at $1000 each.

roadrunner >>

Who is paying $1,000 for common date AU saints? Lets not exaggerate here folks!

roadrunner · January 2, 2008 10:35AM

Gecko, I mispoke on the AU saints. My fault. They are bid at around the $905 for AU58's, sliders. The $1000 figure covers anything slabbed 62 or higher. Got carried away by $100. Did not intend to exaggerate.

If Keith wants to flip those MS62's he'd have no problem pocketing a few thousand for his efforts. Whoever was selling those at $865 was not in tune with the market as $925-$950 were the levels just a week or two ago when gold was much lower. He needs to pray that the seller will follow through on the deal.

roadrunner

ozzyfan269 · January 2, 2008 10:41AM

Sounds like you did well. I hope the seller follows through with the deal.

PerryHall · January 2, 2008 9:47PM

APMEX is currently charging $1062.66 for slabbed MS62's and $956.56 for raw AU's.

ricko · January 2, 2008 10:32PM

Buying when the price is high is never the right move..... my statement stands. Cheers, RickO

compromonedas · January 2, 2008 11:25PM

<< Sounds like you did well. I hope the seller follows through with the deal. >>

This was on oct 2007, I got the coins within a week
Keith

TwoSides2aCoin · January 2, 2008 11:33PM

That screws up the Box of 20 concept.

PerryHall · January 3, 2008 1:19AM

<< Buying when the price is high is never the right move..... >>

................unless the price continues to go even higher.

compromonedas · January 8, 2008 2:08AM

<< 

<< Buying when the price is high is never the right move..... >>

................unless the price continues to go even higher. >>

Keith

BlindedByEgo · January 8, 2008 2:20AM

<< 

<< Would've been MUCH more efficient to just buy an e-mini.

Let's compare:

10/26/07

27 coins - cash out $23,355

1 e-mini (33.2 ounces - i.e. 1 kilo - of gold) - cash out $0 (cash tied up - earning interest - $810)

Cost of holding 27 coins for 67 days (@ approx 4% p.a.) from 10/27/07 (probably not the "settlement date" for buying the coins)
$23,355*.04*67/365= $171.48

Interest earned on "margin requirement" of $810 - $5.95

Net difference $177.43 in base carrying cost PLUS the value of NOT tying up ($23,355-$810) $22,545 PLUS the cost of the risks involved in performance (of the seller), shipping, storing, etc.

Value today of 27 coins = ? (needs to be higher than $965.83 each to beat the e-mini)
Value today of 1 e-mini = $28,618 (33.2*$862 as of 12:20p CST 1/2/08) - profit $862-$780 (approx price on 10/26/07) = 82*33.2=$2,722.40

Yeah Keith, you're a genius (ala $40k for an AU 69-S DDO

) >>

MS62 are at over 1G each and I already have an offer for way more that what I paid for the 1969-S DDO. You ask me in a PM what I paid for this coin and now you are posting the PM on a thread. You are a man with good ethics and a very mature one, I admire you so much that I have a picture of you in my office. Please get a life!!!

Geez... Smoe people!
Keith >>

Common ms62 St. Gauden

Comments

Leave a Comment