Latest Score - gold

[Ag guy]

okay, so my latest gold acquisition isn't exactly a screaming score, but it's gold, and i'm happy about it. I just returned from a local coin show and picked up a bu 2019 1/2 oz age for

$1,005 as a "backdated" coin. They had 2023's for $5 more. The 2019 issue is the 2nd lowest mintage in the series, as it's sandwiched right in between the 1991 @ a 24,100 mintage and

the 1990 @ 31,000. There's absolutely nothing wrong with it (no dings or scratches and it's genuine) and it's going for over $1200 online. Yup, i'll take that all day.

nice job...!

[bronkster1967]

nice job...!

Thank you, Sir!

[LongDonSilver]

Okay, so my latest gold acquisition isn't exactly a screaming score, but it's gold, and I'm happy about it. I just returned from a local coin show and picked up a BU 2019 1/2 oz AGE for

$1,005 as a "backdated" coin. They had 2023's for $5 more. The 2019 issue is the 2nd lowest mintage in the series, as it's sandwiched right in between the 1991 @ a 24,100 mintage and

the 1990 @ 31,000. There's absolutely nothing wrong with it (no dings or scratches and it's genuine) and it's going for over $1200 online. Yup, I'll take that all day.

Good deal. Go for it bronkster! Gold is gold and when offered for less it is always worth grabbing. I still don't understand the lower price available for "backdated" coins at that show. Online dealers offer deals on latest release items, but often only on pre-order coins, and charge more for coins that have been sitting in inventory. With an exception for stuff they picked up 2nd hand and are selling for quick cash flow. Perhaps same thing is happening at the show? Bought earlier that same day (or some recent deal) and flipped for a quick buck?

[maxwellsilverhammer]

"welcome to the nut house. well done. very well done! where was that deal?
cab you share more info>"

A young gentleman that works for a friend of mine inherited a large stash from his grandfather. About every other month he needs cash and is slowly liquidating his holdings.

good for you, bad for grandpas dreams for his grandsons future. if that kid needs and extra $10 thousand a month now since his inheritance, somethings wrong with his spending habits. grandpas inheritance wont last long. ride that train as long as he will sell it to you - spot for REAL gold/silver is a good find. as longdon says be careful. i am and hope you are too. too many counterfeits out there.

btw, longdon, thanks for the warning and always helping members here.

[maxwellsilverhammer]

Okay, so my latest gold acquisition isn't exactly a screaming score, but it's gold, and I'm happy about it. I just returned from a local coin show and picked up a BU 2019 1/2 oz AGE for

$1,005 as a "backdated" coin. They had 2023's for $5 more. The 2019 issue is the 2nd lowest mintage in the series, as it's sandwiched right in between the 1991 @ a 24,100 mintage and

the 1990 @ 31,000. There's absolutely nothing wrong with it (no dings or scratches and it's genuine) and it's going for over $1200 online. Yup, I'll take that all day.

good eye bronkster. nice find. low mintage half eagles in good or better condition are good to hold onto.

[bronkster1967]

good eye bronkster. nice find. low mintage half eagles in good or better condition are good to hold onto.

Thanks, Maxwell and LongDon. It was a pretty good find- I kind of lucked out finding it because I didn't have as much time to look around as I normally would. Had to get my SUV back to my wife at home who blew out the back windshield of her vehicle using our tractor's snowblower attachment. She apparently scooped up a large enough rock to do the deed, and it misdirected much to her car's detriment, so I had 10-15 minutes tops at the show. Luckily, I was able to visit 2 of the dealers whom I do the most business with and one of them had it. Don, you know who I'm talking about. That date seems to be one that has so far slipped through the cracks and hasn't picked up significant premiums yet- except for online, that is.

As for the 2023's, it seems to be a case of "everyone wants the new issues" to keep up their collections/stacks, or whatever so the dealers take advantage by putting a (usually) slightly higher price on them, with the exception of pre-orders online. Backdated coins online, especially bullion coinage, seems to have a hefty premium attached in many cases- even from dealers that are usually dependable for moderate pricing. Not sure if it costs them more to carry the older stuff, or if they're paying out more to get the older stuff (I doubt it), but I still don't see any difference between having an online presence and a traveling coin dealer that does shows. They still have traveling expenses- food, fuel, table rent, insurance costs, possibly hotel stays, etc. As in most businesses, turnover for bullion/coin sellers is key, as is positive cash flow, so perhaps the coin show dealers keep their prices a bit lower or else they lose business to dealers with the online presence whose chief customer is someone who clicks a few buttons. So, while I still try and negotiate a little at coin shows, I don't try and beat them up too much as their prices are usually lower than I could find otherwise.

I would understand if bullion sellers also listed their items on eBay or a similar outlet since the fees are so high, hence their prices would be a bit higher to account for that fact/make up the difference.

[SMTM66]

good for you, bad for grandpas dreams for his grandsons future. if that kid needs and extra $10 thousand a month now since his inheritance, somethings wrong with his spending habits. grandpas inheritance wont last long. ride that train as long as he will sell it to you - spot for REAL gold/silver is a good find. as longdon says be careful. i am and hope you are too. too many counterfeits out there.

btw, longdon, thanks for the warning and always helping members here.

I had the same concern and had the young man meet me at my local dealer to confirm that everything was authentic. It's been a while since our last transaction so I am expecting a call here shortly.

[motocat]

I guess to each his own. Myself, I have little interest in collecting common modern bullion based on mintage numbers. These did not even circulate as currency, so there can be no joy in finding (as I once enjoyed as a boy with U.S. coins I found in change or in rolls). I will collect some such modern bullion based on beauty -- however the date and mint mark adds nothing to me. They will also get you no more from most people who buy -- it will take some time (perhaps years) to unload for that rare date/mint mark collector who will buy it for considerably more.

For me - a good find for gold BULLION, is when I can find such bullion for a low mark up over what I know I can quickly sell them back for. Do note that you can get at least spot for such coins if you sell to a refiner, so the 50 gram bars I have been suggesting are still about the best deal in town.

If anyone is interested in trading their more common bullion for those with low mintages, I have quite an assortment I have picked up for cheap (like when it's dealers choice - Cook Island is one). Most dealers buy these back UNDER spot, so it's basically scrap. Of course, the Eagle is another matter, you can sell to most for somewhat more -- just not anything near +$200/oz, and date/mint matter naught (except perhaps for those who specialize in big advertisement to sell things like way overpriced W mint mark to those old trusting folks who know very little about gold bullion trade).

[bronkster1967]

I guess to each his own. Myself, I have little interest in collecting common modern bullion based on mintage numbers. These did not even circulate as currency, so there can be no joy in finding (as I once enjoyed as a boy with U.S. coins I found in change or in rolls). I will collect some such modern bullion based on beauty -- however the date and mint mark adds nothing to me. They will also get you no more from most people who buy -- it will take some time (perhaps years) to unload for that rare date/mint mark collector who will buy it for considerably more.

For me - a good find for gold BULLION, is when I can find such bullion for a low mark up over what I know I can quickly sell them back for. Do note that you can get at least spot for such coins if you sell to a refiner, so the 50 gram bars I have been suggesting are still about the best deal in town.

If anyone is interested in trading their more common bullion for those with low mintages, I have quite an assortment I have picked up for cheap (like when it's dealers choice - Cook Island is one). Most dealers buy these back UNDER spot, so it's basically scrap. Of course, the Eagle is another matter, you can sell to most for somewhat more -- just not anything near +$200/oz, and date/mint matter naught (except perhaps for those who specialize in big advertisement to sell things like way overpriced W mint mark to those old trusting folks who know very little about gold bullion trade).

You're right. It absolutely is to each his own. You stack what you want to, and I will do the same. I will continue to assert that even common modern bullion, in some cases, has acquired numismatic status, or at the very least semi-numismatic status. Am I saying that they're "rare" coins? No, I am not, although I do collect actual rare coins. However, I am saying, and actual facts and figures bear me out (it's simple enough to check actual sold prices), that carefully chosen, lower mintage Gold American Eagles, if and when someone chooses to sell them, can net one some serious profits- which can then be forwarded into even more, lower premium bullion if one so chooses. This has come about because people and registry set collectors started putting sets together of even common modern bullion coins, like AGE's.

Just FYI, I'm referring specifically to 1/2 oz and 1/4 oz Gold American Eagles, and not the 1/10 oz or full oz sizes, as they're produced in much higher numbers and have never made significant gains over and above their "normal" already elevated premiums. Nor am I referring to proof coins. I also believe that this also pertains to certain "older" gold Chinese Pandas and Australian coins as well.

Now, is it the case that to have best resale profits that these bullion coins should also be slabbed by PCGS or NGC? Perhaps, if only to help allay one's fears that the coin is fake or isn't the grade the seller alleges, even though I personally don't send bullion in to be slabbed as I think it's a waste. I will, however, buy them that way when the price has already been paid by someone else, currently somewhere between $15 and $40, if and only if the deal makes sense. These already-graded-coins are easily found at coin shows, online and at LCS's everywhere, so it isn't too challenging. I don't mess with the W mintmarks, either.

Personally, I have gotten away from stacking bars, and I also avoid dealer's choice type bullion precisely because of their buyback prices. I generally do not flip the bullion I stack, but I do stack that which is instantly recognizable and easily saleable, and in this country the AGE's are still king. I guess we'll have to agree to disagree regarding whether or not one can resell a 1990 or 1991 1/2 oz AGE for more than $200- currently averaging sold prices on eBay from between $1849 and $2895- that's certainly better than what should be approximately a $1,000 coin, even with fees having to be taken out. The coin I mentioned, the 2019 1/2 oz AGE has a mintage that sits right in between the 2 of those. Will I have to wait a decade or more to see it truly escalate significantly in price? Maybe, but I'm in no hurry. I don't have weak hands.

[LongDonSilver]

Bronkster has a dream of owning one of every modern AGE and I say go for it. I lost any real interest in the modern AGE's when they went to roman numeral dates on them. I guess because I've always wanted a real 1907 $20 roman numeral double eagle coin, but not enough to buy one. I'm sticking to bullion unless I can find some backdated roman numeral AGE's for near spot.