gold eagle proofs - worth the premium?

[EO 11110]

what kind of premium is reasonable (if any) for gold eagle proofs vs bullion?

i've just started looking at them - and i don't see much premium. is this normal? how are the prospects for the spread to widen?

[cpthnsolo]

The answer that most GIMers will give, "it all melts the same." If you're investing in proofs because you believe Au will reach $10,000 one day, then clearly the answer is to spend as little as possible on gold as the 'all melt the same' crowd will be proven mostly correct at that point. However, if you see gold going up and down over the coming years then proofs make sense if the premiums are reasonable and you're buying the right proofs. IMO you would be better off buying the 2006-2008 burnished coins as the premiums are just starting to creep up and most dealers still don't realize the difference between these comparatively rare coins versus proof coins. Take a look at the mintages of the burnished coins and you'll see what I mean:

AGE mintages (http://goldeagleguide.com/mintages/)

Anyone interested in buying gold for close to melt with significant future numi upside potential should read Eric Jordan's book (http://www.amazon.com/Modern-Commemorative-Coins-Invest-Tomorrow/dp/1440212899). I've picked up coins at melt that are already worth more than regular bullion after reading this book and listening to a select few here and another forum or two. Buy gold, buy silver, and then slowly but surely pick up semi-numi coins whenever you have the chance.


i've just started looking at them - and i don't see much premium. is this normal?

My local dealers typically ask an additional $5 to $20 per coin for AGE proofs compared to bullion, but I always pass on them. Collectors favor proofs, but unless you're buying 2008 proofs then I wouldn't spend any extra money for them.

[WhyKnow]

IMO you would be better off buying the 2006-2008 burnished coins as the premiums are just starting to creep up and most dealers still don't realize the difference between these comparatively rare coins versus proof coins. Take a look at the mintages of the burnished coins and you'll see what I mean:

AGE mintages (http://goldeagleguide.com/mintages/)

Anyone interested in buying gold for close to melt with significant future numi upside potential should read Eric Jordan's book (http://www.amazon.com/Modern-Commemorative-Coins-Invest-Tomorrow/dp/1440212899).

Here's a good example:the uncirculated ($4300) http://www.ebay.com/itm/2006-W-Four-Coin-4-American-Gold-Eagle-Set-Z6E-/290599769912?pt=LH_DefaultDomain_0&hash=item43a9189738
and the proofs ($3800): http://www.ebay.com/itm/2006-US-American-Eagle-Gold-Proof-4-Coin-Set-1-85-OZ-/280732326088?pt=LH_DefaultDomain_0&hash=item415cf358c8

[Gcubed]

Call your favorite dealer and ask what they will pay. THAT is a realistic market value. ;)

[Gray]

To be frank, from the standpoint of someone that Numis are cool and lost some negative gains on them. Proofs premiums are only worth the joy they bring to you. I sold off almost all the proofs and bullion I have, dealers will only pay a few dollars more if they even do.


The nicest dealer gave me a choice of spot or leaving it at the store for a week and spliting the premium it gets 50/50 (after his sale cut of bullion price)

The only way to get a good premium when you sell is to sell to individuals, and that is not a road you want to take often.

So, unless its for you, to own and not intend to sell, and a very sentimental date. NO.

[~BS]

Yeah. a dealer would pay probably $30 more for a proof ouncer at most versus a regular unc. For fracs, the amount of premium a dealer would pay declines.

If you want to pay more for shiny, that's up to you. But don't get butt hurt if you can't find someone else willing to pay more as well.

[Gcubed]

To be frank, from the standpoint of someone that Numis are cool and lost some negative gains on them. Proofs premiums are only worth the joy they bring to you. I sold off almost all the proofs and bullion I have, dealers will only pay a few dollars more if they even do.


The nicest dealer gave me a choice of spot or leaving it at the store for a week and spliting the premium it gets 50/50 (after his sale cut of bullion price)

The only way to get a good premium when you sell is to sell to individuals, and that is not a road you want to take often.

So, unless its for you, to own and not intend to sell, and a very sentimental date. NO.

It all melts the same.

[Gray]

It all melts the same.

Nice abridging, dare you to reduce it to 3 words or less

[Gcubed]

Nice abridging, dare you to reduce it to 3 words or less

Don't pay more.

[~BS]

MELTS THE SAME

[~BS]

MELTS SAME

MELTS

[Irons]

Call your favorite dealer and ask what they will pay. THAT is a realistic market value. ;)

Whoa, Whoa flag on the play! We base our strongly held opinions on little girl like emotions around here buddy. Take your facts elseware.




:flute::biggrin:

[Gcubed]

Whoa, Whoa flag on the play! We base our strongly held opinions on little girl like emotions around here buddy. Take your facts elseware.




:flute::biggrin:

Meh, Go piss uppa rope!









:biggrin:









:s11:

[cpthnsolo]

Call your favorite dealer and ask what they will pay. THAT is a realistic market value. ;)

Irons and Gcubed are right. FACTS MATTER! I bought the following four 1/2oz gold coins for the same premium, or a bit more on two, than I would have paid for a 1/2oz AGE at the time. I had my eyes on a purchase a few months ago so I decided to sell a few coins to make it happen. Like Gcubed advised, I called one of my favorite dealers (Apmex in this case) to see what they would pay. If you look at the spot at the time you'll see for yourself that melt was about $1540/oz on June 21st of this year. However I sold two ounces of gold for over five thousand dollars:

10377

Now wait just a moment. For all the impressive large, bold font if it all melted the same shouldn't Apmex have paid closer to $3000 instead of $5000+? Personally I don't really care what the answer is as all I know is I used just a small bit of knowledge readily available to all here to make much, much more than just eagles, maples, krugs, etc. could have provided.

Facts are facts after all...

[Gcubed]

Irons and Gcubed are right. FACTS MATTER! I bought the following four 1/2oz gold coins for the same premium, or a bit more on two, than I would have paid for a 1/2oz AGE at the time. I had my eyes on a purchase a few months ago so I decided to sell a few coins to make it happen. Like Gcubed advised, I called one of my favorite dealers (Apmex in this case) to see what they would pay. If you look at the spot at the time you'll see for yourself that melt was about $1540/oz on June 21st of this year. However I sold two ounces of gold for over five thousand dollars:

10377

Now wait just a moment. For all the impressive large, bold font if it all melted the same shouldn't Apmex have paid closer to $3000 instead of $5000+? Personally I don't really care what the answer is as all I know is I used just a small bit of knowledge readily available to all here to make much, much more than just eagles, maples, krugs, etc. could have provided.

Facts are facts after all...


GOLD EAGLES!!!!

[Irons]

Meh, Go piss uppa rope!









:biggrin:









:s11:

Depends on who's holdin da rope!


:biggrin:

[cpthnsolo]

GOLD EAGLES!!!!

I was simply refuting the commonly repeated line of bull known as, "It all melts the same." I even made that clear in super large font in my response. As for Eagles, WhyKnow made it clear that all Eagles aren't the same when he posted actual prices where someone paid more for one set of eagles over another (even though the melt was the same). Just because you're not familiar with a particular segment of the hobby doesn't mean it doesn't exist.


I can post more examples of people paying, and dealers asking, much much more for certain gold eagles over others, but here's just one:
:hahaha: "Please click They all melt the same (http://www.ebay.com/itm/1999-W-5-Gold-Eagle-Unfinished-Proof-Die-Error-MS70-/250878538004?pt=LH_DefaultDomain_0&hash=item3a6986b114#ht_500wt_1413)"

[Gcubed]

I was simply refuting the commonly repeated line of bull known as, "It all melts the same." I even made that clear in super large font in my response. As for Eagles, WhyKnow made it clear that all Eagles aren't the same when he posted actual prices where someone paid more for one set of eagles over another (even though the melt was the same). Just because you're not familiar with a particular segment of the hobby doesn't mean it doesn't exist.


I can post more examples of people paying, and dealers asking, much much more for certain gold eagles over others, but here's just one:
:hahaha: "Please click They all melt the same (http://www.ebay.com/itm/1999-W-5-Gold-Eagle-Unfinished-Proof-Die-Error-MS70-/250878538004?pt=LH_DefaultDomain_0&hash=item3a6986b114#ht_500wt_1413)"

Great info Solo. Any idea of what kind of premiums are being paid for 24 Karat diamond encrusted dildos? Specialty items appear to be your forte'.

[cpthnsolo]

All I'm trying to do, rather what I did, was to make it clear that modern gold including eagles does NOT all melt the same at this point in time. If gold hits $20K/oz he77 99% of all Au certainly will, but that's a long ways off yet. Until then a select few will buy and flip coins when it makes sense and add even more to our own melt buckets (isn't that the point afterall?). Just to be absolutely clear I'm talking about a small minority of modern gold coins. I even stated that the only proof eagles I would consider paying more for were 2008's, and even then I wouldn't pay much of a premium. If you guys start saying, "95% of it all melts the same" then I promise I'll shut the hell up :D.


Great info Solo. Any idea of what kind of premiums are being paid for 24 Karat diamond encrusted dildos? Specialty items appear to be your forte'.

LOL are you really making fun of me for relevant, pertinent knowledge :cool:? If so, thank you Sir :p!

:biggrin:

[EO 11110]

thanks for all of the info (and laughs!)

much appreciated :love30: