No photo (yet), but latest acquisition from "the Bay"

[BULLY]

 

Gold closed up at $921.90 today, so say $922

 

I bought an Abigail Adams First Spouse coin, graded by NGC at MS70, for $487

 

Sure, that is more than they originally sold for, but the Mint raised prices on the series too.

 

And...tick tick tick...the math $922 divided by two (for half an ounce of .9999 pure gold in these coins), is $461. I paid $487 - $461 = $26 over MELT for a .9999 pure gold coin in MS70 condition from NGC, not to mention a very limited edition series.

 

Bad deal?

 

I thought it was pretty good.

 

The PCGS Price Guide Shows:

 

$10 Abigail Adams 455 465 475 485 495 505 545 800

[okbustchaser]

Reasonably good deal. You paid almost exactly what it is worth...ie, bullion value for a bullion round.

[BULLY]

Reasonably good deal. You paid almost exactly what it is worth...ie, bullion value for a bullion round.

 

 

 

More of this "round" stuff.

 

I like to agree with the other user who more accurately describes collectible coinage as Non Circulating Legal Tender

[MTHead-migration]

Reasonably good deal. You paid almost exactly what it is worth...ie, bullion value for a bullion round.

 

 

 

More of this "round" stuff.

 

I like to agree with the other user who more accurately describes collectible coinage as Non Circulating Legal Tender

 

 

 

"THE OTHER USER"? IS THAT ALL I AM TO YOU?

 

 

 

 

 

 

[okbustchaser]

I never said that they weren't collectable...merely that they weren't coinage.

 

I also never stated that someone else might value them much higher than I do. Many people are strange that way.

[MunkyMan95]

A 40,000 mintage for a modern gold coin is not small by any means. I'm surprised they ever sold at a premium (they were near $1200 within the first week of sales).

 

That's all they'll ever be IMO, a bullion round (NCLT if that's what you want to call it. "A rose by any other name would smell as sweet")

[bsshog40]

I think that was alright there Bully!!

[BULLY]

Reasonably good deal. You paid almost exactly what it is worth...ie, bullion value for a bullion round.

 

 

More of this "round" stuff.

 

I like to agree with the other user who more accurately describes collectible coinage as Non Circulating Legal Tender

 

"THE OTHER USER"? IS THAT ALL I AM TO YOU?

 

 

You know, I couldn't remember who said it, so rather than hunt through postings, or erroneously credit the wrong individual, I was vague and referred to a mysterious other user.

 

Now that I know it's YOU, well, I can tell you that you are MUCH more to me than another user, you're my nemesis!

 

[BULLY]

A 40,000 mintage for a modern gold coin is not small by any means. I'm surprised they ever sold at a premium (they were near $1200 within the first week of sales).

 

That's all they'll ever be IMO, a bullion round (NCLT if that's what you want to call it. "A rose by any other name would smell as sweet")

 

Non-Circulating Legal Tender. No matter how many collectors of "circulating" issues poo-poo modern issues or specifically, bullion coins or commemoratives, the fact of the matter is that a majority of collectors fall into the category of what might be dubbed, the "collector-investor." The collector-investor, whatever he or she may collect, accumulates coins with the hope or desire that they will increase in value "some day" otherwise, presumably, there would be no desire to bother, no will to "complete that set," whatever it may be.

 

There are those who may be strictly collectors, or strictly investors, but there are far more people who fall into the "collector-investor" continuum to some degree. Where they fall in that range might be closer to one end of the spectrum or the other, but who doesn't home that their coins might increase in value? Don't they want the best quality specimens they can possibly obtain or afford? Don't they hope that they see their collection worth more in five or ten years than it was worth yesterday? I would argue, in a word, yes. That even applies to those who may poo-poo the moderns, the bullion, and the commemoratives that never circulated.

 

A 40,000 Mintage isn't small for a modern gold coin by any means?

 

Looking at Gold Eagles for instance, they are frequently in the hundreds of thousands annually, with fewer in the smaller denominations, which are less desirable since the cost is not proportionally lower along with the smaller gold amount.

 

Granted, some 1/4 and 1/2 oz Gold Eagles have lower mintages, for the aforementioned reason, while the 1/10oz and the 1oz are generally significantly higher.

 

With Modern Commemorative gold coins, a cursory glance reveals that while some are as low mintages as 17,000 or fewer, a great many range to 70k to 100,000 or more.

 

While I think that the $1,200 first week premium is a tad insane for the 1st Spouse Coins, I can understand why they are desirable now for:

 

1. Bullion Value (.9999 fineness to boot!)

2. Limited edition

3. Quality (especially when you can land a high grade for barely over melt what it would cost you to ship it to and from NGC, much less guarantee a 70 grade).

4. Potential re-sale for collectors who want to complete the set and who may have missed out on one or more of the First Spouses. With so many collectors vying for so few coins, there is bound to be some potential for increased demand at some point, particularly if gold continues to trend upward.

 

Some might argue that it will price some collectors out of the market for the coins, but for the collectors with big wallets, gold at $900 an ounce or gold at $1500 an ounce (or more) wouldn't make a difference.

 

[BULLY]

I think that was alright there Bully!!

 

 

Thank you very kindly -- I had NO idea that what I thought was such a find would be so controversial.

 

It's REFRESHING to hear an "alright" from someone.

 

I happen to agree with you, so I'm going to take your compliment and say

to the rest of them. I got me some GOLD at a reasonable price, some NGC certified MS70 gold at that.

[Just Bob]

The "total newbie" title is a joke - check his post count.

[okbustchaser]

Not trying to tear you down at all. Once again, I didn't say that they weren't collectable. I didn't even say you got a bad deal. On the contrary, I think that you got a very good deal buying it at its actual worth rather than paying the normal premium.