Gold Eagle Pricing Question/Help !

[mrearlygold]

I have a question. What was the value of a 2001 $50. US Gold Eagle coin, NGC/PCGS Proof 69 DCAM, in April of this year ( 2007 ) ?

 

Or 1998 $50 in the same grade in Sept, 2006

 

How many ways can you document fair market value on this coin in that time frame? I've been able to find a few sales in a similar time frame on Heritages archives but would like to document more sales than that if possible.

 

How would you differentiate a wholesale cost and a retail selling price that you think would be fair, unfair, or worse?

 

What would be an unreasonable mark up ?

 

Thank you

 

[jman425]

Check out ebay and do some research on completed sales of that particular coin/grade. That should give you an indication of the market value. You can also check out the PCGS price guide or Numismedia. Remember, to just use these numbers as guides.

[DC Dawg]

A good place for historical prices is Heritage Auctions (coins.ha.com). Sign up for a free account and you can see the prices of past auctions for each piece. Find similar coins and see what they previously sold for. This should give you an idea of the prices.

 

Two other auction sites you may want to try are Teletrade and David Lawrence Rare Coins. Both sites require free registration but both save historical records.

 

Scott

[mrearlygold]

I was looking for more involvement than that ie: actual numbers and opinions from the "collector" as to fair market value. That's obviously not happening here.

 

FYI,The company who sold these coins to a customer of mine, sold them in excess of 200-400% over typical auction prices realized at Heritage.

 

I've referred him to the State Attorney Generals Office in Texas. I will then refer him to the FTC .

 

Hopefully they will do something to help put people like this in jail or at least out of business.

[awb]

Your customer overpaid for some gold coins? That's unfortunate, but what is illegal about a company selling something for more than it's worth if the customer is willing?

[mrearlygold]

Your customer overpaid for some gold coins? That's unfortunate, but what is illegal about a company selling something for more than it's worth if the customer is willing?

 

Overpaid? It's called a scam.

 

When you purposely and willfully target senior citizens to defraud them out of their money, you belong in jail.

 

 

[bsshog40]

Those coin shows are nothing more than scams I agree, but I don't think that there is much a person can do about thier prices. It's just like any other business, you either pay the price they are asking or shop elsewhere. When you are staring at prices on the TV and a phone number to call, you are making the decision to purchase at that price, they are merely advertising it.

[jman425]

Unethical, maybe... for targeting the naive.

But illegal ? Doubt it.

 

There are ways to represent your products and speculations to make it seem more valuable than it really is.

[MarkFeld]

Unethical, maybe... for targeting the naive.

But illegal ? Doubt it.

 

There are ways to represent your products and speculations to make it seem more valuable than it really is.

Among other considerations, it likely depends upon how the seller went about contacting and doing business with the buyer, if the items were sold as an investment and what representations were made to the buyer.

[mrearlygold]

Those coin shows are nothing more than scams I agree,

 

It's not a coin show. It's a telemarketer.

[bsshog40]

I guess maybe we're not getting enough information here. Your post seemed to be just referring to prices of Gold eagles. Now it seems that someone you know has gotten screwed on buying one from a tele-marketer. Maybe if we could get the whole story of what is going on, we may be able to give you more information on what you are requiring.

[mrearlygold]

I guess maybe we're not getting enough information here. Your post seemed to be just referring to prices of Gold eagles. Now it seems that someone you know has gotten screwed on buying one from a tele-marketer. Maybe if we could get the whole story of what is going on, we may be able to give you more information on what you are requiring.

 

Yes and still nobody answered the questions. So I'm essentially blowning this off after referring my customer to the proper authorities.

 

 

[Keleum]

Early,

 

I appreciate you trying to help these folks out, but what do you expect from this forum to help you. If you already know someone paid 2-3X auction, and if you've contacted your local authorities, how can we help?

 

[mrearlygold]

Early,

 

I appreciate you trying to help these folks out, but what do you expect from this forum to help you. If you already know someone paid 2-3X auction, and if you've contacted your local authorities, how can we help?

 

It was more or less a "to be helpful" to others, especially lurkers who don't post at all but read these forums. Plus it would have been helpful I think for others to post the prices of these things and what they thought was fair market value so that we could show a consensus on that.

 

I didn't contact my local authorities. I'm in Fla and while it could be a Fla dealer who supplies these dirtbags, it's a Texas outfit that is doing the scams on old people.

 

I guess that could make for yet another thread

[bsshog40]

It doesn't matter where these telemarketers originate from, if you're a friend or family member of anyone that has tendencies to purchase from such marketers, you just need to eduacate them more. There's not much you can do about telemarketers unless they are actually selling things that are not obtainable. That would be considered fraud. But if a person purchases from a telemarketer, at an agreed price, and that person recieves what they paid for, I don't see how any charges could be pressed against them. This person should be able to get his money back though. Here is part of the Law towards telemarketing in Texas.

 

Under Texas law a telemarketer may not call consumers at home before 9 a.m. or after 9 p.m. on a weekday or Saturday, or before noon or after 9 p.m. on Sundays. The law also requires that a telemarketer provide the consumer with the name, street address, and phone number of the business for whom the telemarketer is calling, as well as the name of the person calling and the names and titles of those in charge of the business. A note of caution, however: fraudulent firms often will change names to avoid detection. Any contract made as a result of a telephone sales call is not valid and enforceable against a consumer unless the contract is put in writing; fully describes the same goods or services discussed on the telephone; contains the name, address, and business telephone number of the seller; and sets out in full the total price, and any terms and conditions affecting the sale. Texas law further provides that a telemarketer (except a public charity) must offer a full refund for all undamaged and/or unused goods returned by the consumer within seven days after the consumer received the goods or services. The seller must process the refund within 30 days after the consumer returns the merchandise or cancels an order for undelivered goods.

[mrearlygold]

That's a telemarketing law. Now look up what constitutes fraud. That's what this is, fraud.

[bsshog40]

We all know what fraud is Early. I was just trying to help. Have a good day!

[awb]

Without more information, how can this be called fraud? If they guaranteed an investment return, maybe. If the product they sold wasn't as described, maybe. If they just suckered some people to pay too much for a product, not likely.

[just-john]

maybe by the time it gets to into the court's gold will have gone up 400%

[SLQS-migration]

IVE GOT THE $25 PROOFS IN PCGS PR69DCAM CHEAP 1991 2003,2006-W ETC. THANKS J. SLQS

[SLQS-migration]

MAN SOME TEXAS PEOPLE IN HERE GREAT! J. SLQS