Age's or $20 saints...
mbbiker
Posts: 2,873 ✭
If you were looking to buy 3 or 4 ounces of gold to hold onto for years (min 15 years) would you buy 1oz age's or pay the small premium for pcgs ms63 saints?
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Tom
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
For MS63 Saints they cost about 14% above melt on the retail end. It would not be too hard to find them from other sources (such as BST) for only 10% above spot. Imo that's a pretty small premium for an 80 yr old choice BU collectible gold coin vs. a slug of gold. It's actually a fairly small premium considering they were run up to 50% above spot during the November 2009 run to $1225/oz gold.
I frequently make the analogy to circ wheat cents bringing a far higher premium to their spot value than the MS63 Saints do. I'd rather have the single saint than a heavy sack of wheat cents to tote around. The circ and MS63 Morgans bring a much higher premium as well. And if you want BU rolls of 1958 wheaties I'm sure the premium to circs is much, much higher. The $20 Saint is just about the cheapest "old" thing out there when compared to intrinsic metal value.
roadrunner
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Why not buy two of each and report back to us in 15 years and tell us how it shook out?
$20 Saint = .900 oz of gold
Personally I want as much gold as possible.
Now if I collected Saints my answer would be different I'm sure
<< <i>Back in '05 when gold was in the $490 or so range I was buying Saints from Heritage in lots at $515 or so. After prices started moving onward, I moved onto Libs and then stopped buying altogether because the premiums were significantly more than melt. >>
For those saints back in 2005 you paid a 5% premium. That's what you could probably get them for today with a little looking and negotiating.
$20 Saints are not 0.90 oz of gold. That's their purity (90/10 gold-copper). They weigh more than an ounce and net out at 0.9675 oz. of pure gold. At $1390/oz gold it works out to be a $45 deduction. Not all that much. Use -3% to keep it simple.
roadrunner
<< <i>If you were looking to buy 3 or 4 ounces of gold to hold onto for years (min 15 years) would you buy 1oz age's or pay the small premium for pcgs ms63 saints? >>
I'd get two of each and relax for a decade.
<< <i>
<< <i>Back in '05 when gold was in the $490 or so range I was buying Saints from Heritage in lots at $515 or so. After prices started moving onward, I moved onto Libs and then stopped buying altogether because the premiums were significantly more than melt. >>
For those saints back in 2005 you paid a 5% premium. That's what you could probably get them for today with a little looking and negotiating.
$20 Saints are not 0.90 oz of gold. That's their purity (90/10 gold-copper). They weigh more than an ounce and net out at 0.9675 oz. of pure gold. At $1390/oz gold it works out to be a $45 deduction. Not all that much. Use -3% to keep it simple.
roadrunner >>
Thanks, RR! I learned something