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US Mint Gold Coin Pricing

Discussion in 'PM's - Coins - Numis - Base Metals' started by Starter, Aug 28, 2016.



  1. Starter

    Starter Silver Member Silver Miner

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    I am starting this thread to track the pricing of gold coins sold by the US Mint through their online catalog. The coin news website keeps good track of this, so I will just post links to their recent articles describing price changes in recent months.

    Interestingly, the Mint does not re-price all coins with precious metal equally, but only a select list of items fit into this category, as described by the coin news blog.

    The last price change was made when gold reached the 1300.00 to 1349.99 bracket, as predicted in the following article:

    http://www.coinnews.net/2016/06/28/nancy-reagan-gold-coin-and-platinum-eagle-pricing/

    Not very long before that, an earlier article predicted the price change when gold reached the 1250.00 to 1299.99 bracket:

    http://www.coinnews.net/2016/06/14/us-mint-gold-coin-pricing-hikes-likely-on-wed-june-15/

    Obviously, collectors wanting to buy coins in this category may want to keep these price brackets in mind when making their purchases...
     
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  2. Starter

    Starter Silver Member Silver Miner

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    A basic rule of thumb to keep in mind...

    When the spot price of gold is higher than the midpoint of the current US Mint price bracket, then gold coins sold at the Mint will have favorable pricing relative to spot, compared to usual. On the other hand, when spot is lower than the midpoint, then gold coins sold at the Mint will have unfavorable pricing relative to spot, compared to usual.

    As mentioned in the coin news articles, the price changes are based on weekly average prices of gold.
     
    Last edited: Aug 29, 2016
  3. tekhen

    tekhen Seeker Seeker

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    Last edited: Aug 29, 2016
  4. tekhen

    tekhen Seeker Seeker

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    Starter... given the average weekly price, when would you say the correct time to buy would be?
    When the Mint came up with this 'bracket', I tried to pinpoint a time to buy, I quickly realized that I could not!
    What I have found (to be easy for me), is to get a coin when it initially goes on sale and the price then falls where it may. If it's a coin I intend to sale, the best thing is to flip as soon as possible or hold for several years in the hope that spot will increase and/or the collector (due to mintage, Mint sale out, etc.) price will increase.
     
  5. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    In before the lock.
     
  6. Starter

    Starter Silver Member Silver Miner

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    Good question! Suppose, for example, that a coin dealer sold the same coin sold by the Mint--a prf gold eagle, let's say--and that their prices followed the price of spot, with the same premium as the Mint when spot is at the exact midpoint of a given price bracket. So at a spot price of 1325, this dealer would sell the prf gold eagle at the same price as the Mint, which would be 1585 (a 19.6% premium over spot). Of course, the spot price of gold fluctuates constantly, so normally either the dealer or the Mint would have a better price at any given time.

    With the Mint's price bracket in place, you can find favorable pricing when the spot price of gold is higher than the midpoint of the bracket. In extreme cases, the spot price of gold may jump into the next price bracket, before the Mint gets the opportunity to make the next price adjustment. This is the ideal time to buy from the Mint. According to the coin news blog, the price adjustments tend to happen on Wednesday at 2:00 PM, so if you can predict the price jump a day before it happens, you should consider buying at that time.

    This is why the coin news blog is important, in that the articles there can help you predict when the price adjustments from the Mint will occur.

    If I am interpreting this cryptic statement right (correct me if I'm wrong!), you mean to say that a careful buyer of gold should try to time his gold purchases from the Mint in the manner I described above.

    If executed properly, you can save a few percentage points off your final price. For example, if the spot price of gold jumps 10 dollars into the next bracket (a spot price of 1360) before the next price adjustment, you can buy a prf gold eagle at the price of 1585, as if spot were still 1325. This nets you a savings of 35 dollars (or 2.2%) compared to the coin dealer price (in my example above) and a savings of 50 dollars (or 3.1%) compared to the new price from the Mint, which would be 1635.
     
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  7. tekhen

    tekhen Seeker Seeker

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    there in lies the problem... it works if the price jumps above the bracket but what if it drops below within the bracket by weeks end? It will fall into the average as you said on Wednesday at 14:00. Based on the articles and your explanation, if one watches the price and if all falls within the bracket, it will work given the average but what also has to be taken into account is when said coin is placed on the market and then removed. I have a few examples although I do not think the bracket was in play for the first two.
    1) The 2009 UHR. I saw several price changes over the year it was offered. There are people that I know and have read/seen that state they wish they would have purchased but did not simply for the premium. Hindsight being 20/20.
    2) The 2008 Unc./Proof fractional Buffaloes. The purchase window ended up closing quickly and the Mint removed the coins from the market without warning. There was little time to implement a target price. If you didn't purchase quickly' you were left out.
    3) The 2015 Proof Platinum Eagle. A coin over the years that did not sell out. The Mint changed it's mintage and next thing you know, it was sold out in day one.

    Both the 2009 UHR and 2008 Unc/Proof fractional Buffaloes (especially the Buffaloes) now have a numismatic premium.

    If we use 'common coins' (Proof Gold Eagles) per your example, I believe it would be much easier to track and perform. There are other things in play that also have to be watched on top of the spot price and Mint bracket.
     
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  8. Starter

    Starter Silver Member Silver Miner

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    In the majority of scenarios, the spot price of gold is very stable. In the example I provided earlier, spot reached 1360 when the Mint price bracket was still in the 1300 to 1350 range. The average of this range is 1325, which means that as long as spot remains above 1325--a very high possibility--you will likely come out ahead if you buy from the Mint when spot is at 1360 (provided, of course, that you make the purchase before the Mint increases their prices!), regardless of whether the Mint actually uses the higher price bracket the next week.

    Granted, there exists the possibility that gold spot will go down after reaching 1360, but the possibility is equally likely that gold spot goes up even more...in this case, the subsequent price gain is icing on the cake. The main point to keep in mind is that once gold spot reaches 1360, you can safely bet your money that it will not go down below 1325 any time soon--except in rare situations, like the PM meltdown of fall 2011.
     
    Last edited: Aug 30, 2016
  9. tekhen

    tekhen Seeker Seeker

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    I believe paper metal will continue to have the '2011' effect on the actual metal in the foreseeable future. If I'm not mistaken, a similar rise and fall occurred in 79/80. I believe the person who 'flips' is the one who needs to be concerned and to pay closer attention to spot and the Mint's bracket.
    Based on my personal analysis, if one holds onto their PMs for 2 decades+ given inflation, their PMs will increase in fiat given the spot price. Modern numismatics are and will be based on collector's intrigue and what I call the Mint effect, to where the price will diverge from spot.
    To add, many collectors outside of GIM2 buy the slab and not the coin to where I see false runs occur given a TPG's sticker... see the 2013 Rev. Pf Buffalo from the Chicago ANA.

    A good coin to try this on is the Unc. Gold Eagle. This seems to be a coin that doesn't sell as well as other options but yet is wanted by the collector and tends to have a strong aftermarket numismatic premium.

    I will start and keep a spread sheet on spot/bracket and the Unc. Eagle and report back.

    I'm interested to see what will turn out.

    By the way... great post!
     
  10. Starter

    Starter Silver Member Silver Miner

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    The $5 unc gold commemoratives (featuring Mark Twain and National Park Service this year) have similar characteristics, where the Mint has much higher sales with the prf version of the coin than the unc version. The design of the coin on a whole is popular, but the version of the coin is less popular, resulting in low mintage for the unc version. I believe it is because many customers buy the prf version as gifts, rather than numismatic investments. I plan to use this strategy for the NPS $5 unc gold commem, which is already rising in price in the secondary market, even though it still available at the Mint (probably because some people do not want to buy raw coins).

    The gold spot price chart over the last few days has been discouraging, to say the least, from a gold investor's standpoint. There is a real likelihood that spot may move to the next lower bracket of 1250 to 1300. If that happens, you can be assured that the coin news blog will be keeping a close watch on the price so that they can notify us if a price change by the Mint is likely to happen.

    Just like when the Mint raises their prices to the next higher bracket, it is possible to squeeze some savings when the Mint lowers their prices to the next lower bracket. The main difference to keep in mind is that when the Mint lowers their prices, make sure that you buy only after the price change is implemented (not before, as with a price increase!), and that the current spot price of gold is still higher than the average price of the new bracket (in this example, if the Mint lowers their prices to the 1250 to 1300 bracket, make sure that spot is still higher than 1275 before buying).
     
  11. Starter

    Starter Silver Member Silver Miner

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    Right after I wrote this post, spot gold made a very encouraging turnaround.

    Let's hope we see 1360 gold instead of 1290!
     
  12. tekhen

    tekhen Seeker Seeker

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    It's funny how we want spot to drop in order to purchase but rise in order to have a good return on investment/hedge against inflation/sale.

    I agree with you 100% when it comes to Unc. vs Proof. I learned and saw the difference here with the Unc. Gold Eagle thread. From a collector's view, I prefer Buffaloes in their numismatic forms but it was after doing the research from what was shared that I said, "I'm in" on the Unc. Gold Eagles. All the years minted tend to have a numismatic premium with 2008 being king. It will be interesting to see what occurs given their 20th anniversary in 2026. To be honest, I would like to see the Mint move on from the older coinage and come up with modern artistic representations of Liberty, Indigenous People and Landmarks (good luck with that). It would be interesting to see what the hobby does at that time if they mint artistic coinage?

    It's been some time since I've purchased commemoratives, I'm at a point to where the history and art work has to peak my interest. This is where I tend to diverge from the 'spot price' and buy what I like and not equate the sales price to spot.
    On the other hand, annual and anniversary options tend to be where my interest are. On annuals, I typically trade fiat for whatever strike the Mint produces. Like many, I prefer the eye appeal of proof coins and am more willing to sale the Unc. coins. Anniversary coins tend to be sets, so I will purchase an entire set instead of an individual coin in order to have the entirety.

    I read an article wear some dumped paper gold on the market. I tend to wonder how long this suppression to can continue? I can watch the price on a given day but time cost and it becomes difficult to not only track spot but also the bracket and see where the bracket price falls in order to purchase.
    As stated, the only time I have tracked is in 2009 with the UHR.
     
  13. Starter

    Starter Silver Member Silver Miner

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    The spot price of gold is now 1,338.33, which is past the 75% mark within the 1300 to 1350 price bracket.

    Buying gold coins now from the Mint effectively has a 1% discount relative to spot, as it you gives you an effective spot price of 1325 vs 1338. If you can't wait to buy or are confident that spot gold will not move to the next lower bracket, then now is a good time to buy.

    For those who are more cautious or don't mind waiting, then it may be more advisable to wait until spot gold reaches 1351 or so before buying (for about a 2% discount)--but make sure you buy before the Mint raises their prices!
     
    Last edited: Sep 6, 2016
  14. Starter

    Starter Silver Member Silver Miner

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    Gold spot has just stepped into the next price bracket, at 1,350.29.

    There is no need to hurry, however, as the Mint's price brackets are adopted based on weekly price averages, typically computed on any given Wednesday at 2:00 PM. The week ending in Wed 9/7 (tomorrow) will have seen most of the time with gold spot in the 1300 to 1350 bracket, not quite yet ready to justify a price increase. Early last month, gold also briefly ventured into the 1350 to 1400 price bracket, but the higher price bracket was not adopted due to gold not maintaining its higher price throughout the week.

    If gold maintains its price during the next 8 days, though, look at the Coin News blog on Tuesday 9/13 for a warning that the Mint may raise their prices on 9/14.
     
  15. Starter

    Starter Silver Member Silver Miner

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    London fix prices since Wed:

    2016-09-07
    PM 1348.35

    2016-09-08
    AM 1348.00
    PM 1343.40

    2016-09-09
    AM 1335.65

    Looks like the chances of a price increase from the Mint next week have gone down a lot, as the London fix prices have not yet broken into the 1350 to 1400 range so far this week.

    But spot gold is 1,334.03 at the moment, which is still higher than the midpoint of the current Mint price bracket. So buying now is still not a bad idea...

    By the way, I am still not sure whether next week's price evaluation on 9/14 will take into consideration the fix price from 9/7, as those prices seem to be for last week (maybe the PM price for 9/7 will be counted, but not the AM price).
     
    Last edited: Sep 9, 2016
  16. Starter

    Starter Silver Member Silver Miner

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    The general price trend of gold took a hit today, and we might actually see the possibility of going below the halfway mark of the current price bracket, which is 1325.

    As of now, the price of spot gold is 1329 dollars.

    Look at it as an opportunity to think about what you want to buy when it is time...
     
  17. Starter

    Starter Silver Member Silver Miner

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    Today, after dipping from a weekend price of 1328, spot gold made a valiant stand in the 1321 to 1325 range, going through a series of peaks and valleys in the process.

    Ultimately, gold emerged victorious for the day, hovering now at 1330 per ounce. This price is only $5 above the midpoint of the current Mint price bracket of 1300 to 1350 (less than a 0.4% margin), but the way in which gold rallied today from a price of 1321 is very encouraging.

    Although we are still $20 away from the low end of the next higher price bracket, today's price action in gold reaffirmed the stability of spot gold in the current price bracket, making it much less likely for spot gold to move to the next lower price bracket.

    The lesson learned today is that having a lower chance of dropping to the next lower price bracket is just as important as having a higher chance of jumping to the next higher bracket, when it comes to judging the strength of buying in the current Mint price bracket.

    But since most of us are not in a hurry to buy gold coins from the Mint at this point, it is just as good to wait for gold to move upward further.
     
  18. Starter

    Starter Silver Member Silver Miner

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    Looks like gold will be fighting valiantly a second day in a row today...
     
  19. Starter

    Starter Silver Member Silver Miner

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    We are taking casualties, but open land is ahead of us.

    D-day was not won without lots of bloodshed...
     
    Last edited: Sep 13, 2016
  20. Starter

    Starter Silver Member Silver Miner

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    I would venture to say that buying from the Mint will tend to be better when spot prices are higher, not lower.

    The first advantage (mentioned earlier) is that when buying before the Mint adjusts their prices, the purchase done before the price adjustment is at an advantage when spot has moved upward (in the earlier example, when spot is at 1360 while the price bracket is at 1300 to 1350), but at a disadvantage when spot has moved downward (the latter case would likely only apply to buyers ignorant of the Mint pricing policies, as informed buyers would know to wait for a price adjustment in order to get a fair price).

    The second advantage, which I now believe is significant, is that coin sales tend to be higher when the Mint adjusts their prices downward, even though the melt value of the coins has also moved downward accordingly. Unlike most other buyers, though, I would rather buy a coin from the Mint, knowing that 1) the Mint has fairly adjusted their price upward to reflect the increased melt value of the coins, and 2) most other buyers will be discouraged by the higher price, thus lowering potential sales of a coin that I decide to buy.

    It is possible to reap both advantages discussed above, by leveraging timing to buy in the lower price bracket, while also benefiting from the higher melt value and scarcity resulting from a higher metal price.
     
  21. tekhen

    tekhen Seeker Seeker

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    In the case of collectible coins as an investment I understand your point in where the average falls. I counter and continue with this point, when you say "wait on a price adjustment" it all depends on where spot falls for that week and how the Mint handles numismatic coins. Case in point 2008's Gold Buffalo and 2009's Silver Eagle.
    Wait to long for spot adjustment and average and you might miss out all together.
    Numismatic offerings can be flips but IMO are best held long term. If you obtain at the earliest moment and hold for several years, I believe you will see a positive return as a collector.
    A large dealer has the 2016 Silver proof set for $95 dollars while it is still on sale at the Mint for $53. I know the Ag Set doesn't fall under the price guide but given how the aftermarket works, buying from the Mint (early/at a possible much higher price) may still work in the long run.
     
  22. Starter

    Starter Silver Member Silver Miner

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    True, there may be some issues from the Mint where they stop selling the coins at a date that is unannounced.

    But generally speaking, most issues at the Mint are sold and ended on a regular schedule, where there is plenty of time between the start and end of the period during which the coins are sold.

    The two advantages I discussed earlier are more incremental and assume that you indeed have the opportunity the buy the coins that you want.
     
  23. tekhen

    tekhen Seeker Seeker

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    I understand.
    Those that I mentioned are outliers and anomalies. If I use my annual coins (given your examples) it works if one closely pays attention to weekly avg. spot+Mint pricing guide and the coins stay available for a/the year.

    Earlier, I used the 2009 UHR as an example since it did stay available for the year. I remember it rising in price but I do not remember the price guide used.

    I however do see your point with the advantages and agree that there is a 'buy' point that could be used if one sets a buy price and spot works to their advantage.
     
  24. Starter

    Starter Silver Member Silver Miner

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    Looks like gold is in good shape this morning.

    Let's keep it up!
     
  25. Starter

    Starter Silver Member Silver Miner

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    Gold has broken the 1325 mark now, into favorable pricing territory!

    Let's hope this bounce lasts.
     
  26. Starter

    Starter Silver Member Silver Miner

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    At a spot gold price of 1340, we now have a comfortable margin above the midpoint of the current price range of 1300 to 1350.

    Tonight I will be looking into pulling the trigger for a gold coin purchase from the Mint.
     
  27. Fjpod

    Fjpod Silver Member Silver Miner

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    just starting a conversation here....not trying to be a critic....Lord knows my methods are probably no better than yours, but I'm not so sure your strategy here is any more likely to result in profits than say....buying old US Gold on the secondary market.

    So, the price of gold is up a bit right now. but next week or next month it may be $1250 again. You will have paid the inflated price, and the mint will still be offering it for the inflated price, and all your strategizing has gone to naught. If the price continues to rise, well, you would have bought a nice piece of gold at an inflated price with maybe some profit to be had if the market continues upward.

    I don't see how this is any different than anybody's elses strategy.

    Premiums for current coins? I don't see that they are much worth it, unless it looks pretty and you really want one.
     
  28. Starter

    Starter Silver Member Silver Miner

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    Hello, and good question.

    The main point in this thread is to discuss the pricing scale used by the Mint, which has its unique set of products. When the Mint offers products in its catalog, buyers always have the choice between the Mint and the secondary market. Nobody is forced to buy from the Mint, but if market dynamics currently point to certain issues of coins being priced more fairly at the Mint than the secondary market, then so be it. It is up to the buyer to determine that a certain product is fairly (or unfairly) priced at the Mint.

    The key word to read here is "choice". Every buyer of gold coins has a choice of whether to buy at the Mint or the secondary market, and he must decide himself which coins are fairly priced at the Mint or the secondary market. So when labeling Mint products as "inflated", one must first make a detailed analysis of the price dynamics of each product sold at the Mint. For some of those products, I am sure you will find that the Mint not only has fair prices, but favorable prices compared to the secondary market.

    One example is the coin I plan to buy. The NPS unc gold coin is currently priced at 424.75 at the Mint, but it is priced at 600+ in MS 70 condition on eBay. With more than a 50% chance for coins being graded at MS 70 for this coin, I feel there is a very good chance that I can save money in buying this coin from the Mint, even when counting grading costs. So the idea of a coin being "inflated" is very subjective, and depends very much on the coin being sold.

    If we look at your example of gold dropping from the current price to 1250, the same risk also applies to buying coins on the secondary market. This risk is mitigated when buying from the Mint at the proper time. In the example I gave a few weeks ago, I tried to make common ground for these two markets by giving an example of a coin sold in both markets, with equal price when spot is at the midpoint of a price bracket. In reality, it will be much harder to match the two markets, and the type of coin purchased will more often determine whether it is better to buy at the Mint or elsewhere.
     
    Last edited: Sep 22, 2016
  29. Starter

    Starter Silver Member Silver Miner

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    Gold was quite shaky this afternoon, and I may need to wait until the weekend to make my purchase.

    Looks like my finger may remain on the trigger for a little while longer...
     
    Last edited: Sep 22, 2016
  30. Starter

    Starter Silver Member Silver Miner

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    After watching the price of gold today, I feel like it is OK to buy now, but I would rather wait until at least Monday to put my concerns to rest. Gold had high hopes near the end of the close, but suddenly took a quick drop from 1339 to 1337 in the final closing minutes.

    This Mint purchase is primarily numismatic in nature, and most of the value of the purchase will come from my choice of coins, rather than changes in the gold value. I won't lose much by waiting another several days to buy.
     
  31. tekhen

    tekhen Seeker Seeker

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    Starter... A few questions.

    In your above example you use the Mint's pricing scheme in comparison to a graded coin. Especially a 70 on the Sheldon scale?
    Does this not add to the equation of your theory?
    If one can purchase direct from the Mint and is knowledgeable, why go aftermarket since the price is 99% of the time higher than the Mint's?

    Concerning grading, the Mint's price guide is more comparable to an 'aftermarket's' graded coin of 69 than 70. Depending on the TPG (for this purpose I will use PCGS and NGC) a 70 will always fetch more than spot/grid price. A 69 will always be closer to the aforementioned.

    One would also have to determine the coin's collectible value(if it is wanted by collectors) and mintage(rarity) when throwing in a graded coin. These factors along with a perfect grade tend to disengage from the Mint's pricing.

    I understand your theory if kept to spot, Mint pricing and even the Greysheet but I do not understand the comparison to a graded coin?

    Thanks
     
  32. Fjpod

    Fjpod Silver Member Silver Miner

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    ehhhh....I want to have discussions about gold, but gold is an inanimate object. It can not have human emotions like "high hopes". Human emotions and other manipulations can drive the price, but gold has no ability to control itself.
     
  33. Starter

    Starter Silver Member Silver Miner

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    The reason I compared this coin to one graded at MS 70 is that graded coins are often less expensive on eBay when considering grading costs, making it a good market for buying graded coins. On the other hand, buying raw coins on eBay (or other markets besides the Mint) is almost always a losing proposition when the coin is still available at the Mint.

    The example I gave here--the 2016 National Park unc gold coin--is an extreme case, as the mintage is still exceptionally low and vendors on eBay are waiting for the price of this coin to move upward. The last sales of MS 70 examples of this coin were in August and July and priced mostly around 520, with one sale priced at 635. Today, the vendor selling at 635 has the lowest available price, and no vendors have auctions for this coin. The people who bought at 520 did so probably because they did not want to grade the coin themselves, as this would involve grading costs (even though 214 out of 218 coins were graded at MS 70).

    A more typical example is the 2016 Mark Twain unc gold coin. Although the issue price at the Mint is the same as National Park, the aftermarket price is lower due to relatively higher mintage. One vendor is selling MS 70 examples of this coin at 445, which is about equal to the Mint issue price of 424.75 when considering grading costs. In terms of deciding to buy this coin from the Mint or eBay, I would say that a buyer has equally good opportunites in the Mint and eBay, and the decision would be based on personal preference (as for me, I would buy from the Mint in order to reach the 5-coin minimum for modern coins graded at NGC).

    Without opportunities at the Mint like the ones mentioned above, prices of coins on the secondary market will often fall below the Mint issue price, especially when considering grading costs. This usually happens due to high mintage or low demand of the coin. In order to avoid falling into this trap, one must pay close attention to the mintage of the coin and current eBay prices before buying at the Mint.

    Even with the buying opportunities, there is still no guarantee that the coins will continue to hold their premium in the future, but at least we can look at the historical prices and mintage numbers to estimate what prices will be.

    I thought this forum is for people with a personal bond with gold and other precious metals...

    Some of the human qualities should have rubbed off on the gold by now!
     
  34. Fjpod

    Fjpod Silver Member Silver Miner

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    ehhhhhh.....I have a bond with preserving wealth.
     
  35. Starter

    Starter Silver Member Silver Miner

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    Two nights ago, I went ahead to pull the trigger on the NPS unc gold coin, even though gold was somewhat shaky at the time.

    I decided that this was mainly a numismatic purchase, and there was a decent margin of gold price above the 1325 midpoint of the current bracket.

    Today, the price is threatening to move below 1325, but it will not make a difference unless gold moves below 1300.

    We will see whether I get the opportunity to buy a little more at the lower price bracket.
     
  36. Fjpod

    Fjpod Silver Member Silver Miner

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    your chances are as good as everybody elses. I am hoping for a buying opportunity in the next few weeks. Good wishes to all, though.
     
  37. Starter

    Starter Silver Member Silver Miner

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    Only because the price of gold went down after the fact. This was an unusual case, as the price of gold was influenced by the result of the presidential debate.

    In my case, the purchase was done at about 75% above the low end of the bracket and 25% below the high end. All other things being equal in this situation, it was more likely for gold to move up to the 1350 to 1400 bracket than down to the 1250 to 1300 bracket.

    If I was not so intent on buying this particular coin from the Mint, prudence would have warranted me to wait until gold reached 1345 or so before buying. But in this case, I wanted to make sure that I got my coins...
     
  38. Fjpod

    Fjpod Silver Member Silver Miner

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    Got my gold 2016 standing liberty coin from the mint today. I don't buy much from them. Too much premium, but this is a Beautiful coin. They're selling on eBay for $685, which I expect to drop, but this one is a keeper.
     
  39. Starter

    Starter Silver Member Silver Miner

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    There are actually 2 kinds of standing liberty gold quarter being sold on eBay: 1) a raw (ungraded) coin, sold at $530 with shipping, 2) a graded coin (almost always SP 70), sold at $690 with shipping.

    The raw ones are being sold at a loss, when eBay fees and shipping fees are counted. The sellers are simply trying to liquidate their stock, after having discovered that the household limit no longer exists. They want to get their money back before the price goes down further (it has already dropped a significant amount).

    The ones graded SP 70 are being sold at a slight profit, in order to take advantage of customers with no familiarity with the grading process. Because lots of customers on eBay fall into this category, there is some potential for profit. If coins were to have somewhat of a low chance of grading at 70, then this would be a good option in some cases, but in this case they are just taking advantage of the customers.

    Although the price of the SP 70 coins is still high, this price can easily drop quickly once more people send their coins in for grading and put them up for sale. The household limit was dropped only about a week ago, and it may take a while for the majority of the graded SP 70 coins to hit the market.
     
    Last edited: Sep 29, 2016
  40. Starter

    Starter Silver Member Silver Miner

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    Gold has now dropped below 1300, into the 1250 to 1300 price bracket of the Mint.

    Any price change by the Mint normally happens on a Wednesday, so we will probably need to wait another week to see whether a price drop happens.
     
  41. MrLucky

    MrLucky Silver Member Silver Miner

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    You could probably return it and buy it next week for less. Though probably not worth the hassle.
     

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