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Jim Bisognani: Saints Alive! A 1933 Double Eagle Soars to a Record $18.9 Million!
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70 posts in this topic

2 minutes ago, World Colonial said:

Buy an ASE now and you immediately have a "paper" loss of 15% to 20%.  That's horrible liquidity.  Gold is 6% to 8% last I checked for AGE, much worse than previously.

Premiums for AGEs are high right now ?  Direct from the mint ?  I think I see plenty of bullion at spot online.

I knew silver was high, didn't realize it was still $6-$8. :mad:

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16 minutes ago, GoldFinger1969 said:

Premiums for AGEs are high right now ?  Direct from the mint ?  I think I see plenty of bullion at spot online.

I knew silver was high, didn't realize it was still $6-$8. :mad:

I didn't look everywhere.  I was using California Numismatic Investments (golddealer.com), a PNG dealer, as a proxy.  This was a few days ago.   They offer ASE, AGE and all similar products.  Not referring to obsolete world coins or jewelry.

But yes, their buy price for the 2021 ASE was $32+ and their sell was $40+.  That's 20%.  Somewhat less for the others but still more than 15%.

I did not check every single dealer and yes, there are likely lower spreads somewhere, if you can find it. But I doubt they are that far off, or else they wouldn't be in business anymore.  APMEX was somewhat less (though I did not check at the exact same time) but I did not see their bids, only ask prices.

It's not possible to buy AGE or ASE from the US Mint as a retail buyer, except proofs.

Edited by World Colonial
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Just now, World Colonial said:

But yes, their buy price for the 2021 ASE was $32+ and their sell was 40+.  That's 20%.  Somewhat less for the others but still more than 15%.

Those prices are like Crazy Eddie's.......INSANE !!! xD   

With silver at about $25, you have to pay a 60% premium to buy !!  Forget the bid-ask spread, that's INSANE !!! xD

 

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1 hour ago, GoldFinger1969 said:

Those prices are like Crazy Eddie's.......INSANE !!! xD   

With silver at about $25, you have to pay a 60% premium to buy !!  Forget the bid-ask spread, that's INSANE !!! xD

I was calculating the premium as the "ask" ($40) minus the "bid" ($32) divided by the "ask" ($40).

So if you buy at $40, you sell back at $32 which about 80% of the "ask" originally paid, or a 20% difference.

The "bid" price is well above spot but in fairness, I don't see this as relevant to the liquidity since you get most or all of it back at resale.

But yes, you are right that the  premium to the "paper" price at this firm is close to 50%.

I keep on reading that the premiums are due to retail demand but I believe it's actually mostly reduced liquidity.  If demand is supposedly so great, why don't dealers raise their bids?  Only reason I can see for it is that they aren't or can't hedge.

Edited by World Colonial
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10 hours ago, Alex in PA. said:

You dream.  Hundreds of millions of Americans? are spending their Covid checks on gold??

[As long as you've put your arsenal away and put a thick-gauge chain leash with spiked collar on your ferocious dog, I will let you in on a little-known secret: with millions behind closed doors due to C-19 concerns, a sizeable quantity of the proceeds of so-called stimulus checks were freely spent by those living by their wits on a whole panoply of mind-altering substances, both licit and illicit, creating a sudden unprecedented demand that prices responded accordingly. I was similarly irresponsible. All of a sudden, when one of three highly-sought (none graded finer) French 1902 20-franc 🐓 in MS-64 condition made an inconspicuous, unannounced appearance on a long list of numismatics for sale, I looked around, discovered my many competitors and adversaries weren't paying attention, and took the plunge. There are those who would argue this was a blatant misuse of government funds.  I don't dispute them. Pablo Escobar's prison was built from the ground up and he named it "La Catedral."  Mine, created to NGC specifications is called "Set Registry." Unfortunately, I cannot rest on my laurels. I am obliged to spend the rest of my life fighting every credible contender to the throne... or become a once-was, has-been my name consigned to the dust bin of history.

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1 hour ago, Quintus Arrius said:

...when one of three highly-sought (none graded finer) French 1902 20-franc 🐓 in MS-64 condition made an inconspicuous, unannounced appearance...

You sneaky dawg....

How do you find these things? I'm having a really hard time with pre-07 stuff.

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14 hours ago, Quintus Arrius said:

with millions behind closed doors due to C-19 concerns,

Your summation is a very interesting read and I must agree with certain aspects.  Every time a so called 'Stimulus Check' came out our local liquor store ran dry.  The only Gold Pennsylvanians were buying was 'liquid' gold.  :roflmao:

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On 6/16/2021 at 3:26 PM, Quintus Arrius said:

[Just an observation... I was privileged enough recently to examine superlative, highly-detailed, pinpoint focused,  photographs of the coin in optimum lighting conditions, both pre-Farouk, post-Farouk and quickly came to the conclusion this now egregiously damaged piece would have little appeal to a true numismatist and connoisseur of coins.]

I certainly agree this coin looks 'off' compared to the 10 now government property. I would rather have an undamaged 63 or 64 with full luster for my type slot.

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8 minutes ago, numisport said:

I certainly agree this coin looks 'off' compared to the 10 now government property. I would rather have an undamaged 63 or 64 with full luster for my type slot.

Spoken like a true-blue, card-carrying coin collector and connoisseur.

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