What happens to the 1/10oz AGE Proof's premium over time?

MsMorrisine · October 9, 2010 4:07AM

I'm a 4-coin set collector. So, watching individual coin prices for the AGE Proofs hasn't been done on my end. Plus I'm relatively new to the game anyway.

What is the speculation regarding the premium on the 1/10 ounce AGE Proofs if gold drops?

Gold's about $1350/oz, and the mint is now selling 1/10 oz for about $180, so that's about a $45 premium, or 33%.

Let's say gold nosedives next year to $750. What's going to happen to the price on these, and for discussion's sake let's put them in a PR69 FS holder? Are we looking at $100 coins? More? Less?

Opinions not just welcome, opinions wanted...

CoinCrazyPA · October 9, 2010 7:11AM

I remember back in 2003, I was buying 1/10 proofs for around $80-90 a piece. But then again this was before the whole IRA thingy.

MsMorrisine · October 9, 2010 10:53AM

guesses?

RYK · October 9, 2010 11:04AM

My personal experience is that bourse dealers are loathe to pay more than melt for these, making the 1/10 oz coin the worst one to buy.

291fifth · October 9, 2010 11:10AM

Much like RYK, my experience is that dealers will buy them as melt. In addition, they will pay no premium if they are slabbed. With gold at $1350 an ounce I can't see them having a numismatic premium when selling.

CaptHenway · October 9, 2010 11:31AM

Proof gold eagles tend to get bought at a certain rate per ounce for all sizes, so the 1/10ths do not retain their size premium.
TD

mikeyg · October 9, 2010 3:05PM

well crap.Got my half and quarter.Figured on getting the ounce and the tenth arouind x-mas...but if the premiums for tenths are not worth it maybe I will get another quarter or half instead.

TheRaven · October 10, 2010 2:33AM

I cleared out my collection of 1/10 oz proof GAE late last year.....

They paid $1900 per oz for proof golf coins regardless of the demonination.....

Also they looked at make sure the paperwork and the packaging of the coin was all there without really looking at the coins.....

I would not get these graded.....

In my opinion I see no real value in these coins long term as the mintages are just way to high.....

pf70collector · October 10, 2010 3:18AM

More like a $450 an ounce premium is the way I see it. I see no value in them unless its a record low mintage.

Overdate · October 10, 2010 3:56AM

My take is that if gold nosedives, the coins likely to come closest to maintaining their current value are some of the recent low-mintage First Spouse coins. Some of the proofs have less than 7000 mintage and some of the uncs. have less than 4000 mintage.

A huge drop in the price of gold would lead to a corresponding drop in the price of the First Spouse common dates, making the set more affordable overall and encouraging more people to collect them, thus maintaining or even increasing demand for the keys.

What happens to the 1/10oz AGE Proof's premium over time?

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