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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
 Posted - 04/13/2009 : 19:42:05
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Hey, I haven't posted in a very long time as I have been extremely busy. Anyway, I need everyone's opinion, who can offer it: I have the opportunity to buy a gold coin off a very reliable website for $300. The mintage for it was extremely low (in the tens of thousands) but it has some light pitting. It is graded at EF-45 and according to my Red Book, a rating for this coin at EF-40 is worth $400. I was wondering if it would be worth it or not. Sorry I am not giving any more information, I don't want someone else to buy it.
- DesertTumbleweed
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I enjoy taking long walks off short piers. |
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fb101
Administrator
USA
2856 Posts |
Posted - 04/13/2009 : 20:42:40
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| If your grading is accurate, it's probably about what it's worth. Pitting knocks a bit off of the value, depending on how bad it is. It may be a bargain, but not a great bargain. Good luck either way. - Don't forget though, if it's truly a reliable site, they probably have a return policy. be sure you check it out before you buy. One other thing too... red book values are usually higher than market. |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 04/13/2009 : 20:43:56
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| Yeah, they have a good return policy. I am just a little unsure because of the pitting. |
I enjoy taking long walks off short piers. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 04/13/2009 : 21:00:06
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How can a coin be pitted and be EF-45... It may have EF details, but pitting would detract greatly from eye appeal...
Any room to haggle? |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 04/13/2009 : 21:06:03
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| No room to haggle, the price is what they say, unfortunately... |
I enjoy taking long walks off short piers. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 04/13/2009 : 21:11:49
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| Well, read over the return policy again, and get it, if you don't like your out shipping right? |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 04/13/2009 : 22:07:37
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Do you like it?
You may have to hold it and look at it for (quite) a while.
If you like it go for it.
If not, pass and get something you like! |
There's profit if you melt things!!
8{> |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 04/14/2009 : 08:41:26
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Hi there-
JMO,JMO,JMO, but I wouldn't set the price of a coin based on "book value." Official rated value and street value are like two different worlds. I learned that lesson with baseball cards. Computer Jones said it well- buy it IF YOU LIKE it, but not expecting to buy it for $300 and turn around and sell it for $400+ as the book suggests its worth. If it's a circulated coin, use your own judgement, but if it's a bullion coin, pass!
JMO wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/14/2009 : 10:57:33
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quote:
Originally posted by wagsthadog
Hi there-
JMO,JMO,JMO, but I wouldn't set the price of a coin based on "book value." Official rated value and street value are like two different worlds. I learned that lesson with baseball cards. Computer Jones said it well- buy it IF YOU LIKE it, but not expecting to buy it for $300 and turn around and sell it for $400+ as the book suggests its worth. If it's a circulated coin, use your own judgement, but if it's a bullion coin, pass!
JMO wags
I'm not a numis. guy but I wouldn't either. If they were giving a true 25% discount then why? BTW, what's the bullion value of the coin? If it is close to $300 then it's a no brainer in my opinion. If it's less than $250 watch out. |
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Think positive. |
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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
Posted - 04/14/2009 : 11:03:05
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| Thanks for all your opinions everyone! I think I will take a pass on the coin, as the bullion value is about a third the price of the coin. |
I enjoy taking long walks off short piers. |
Edited by - DesertTumbleweed402 on 04/14/2009 16:57:22 |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 04/14/2009 : 17:36:06
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| That is probably the right decision. I don't usually buy anything but bullion coins. It takes away the gray areas on value. It is what it is. |
You don't have to be the BEST you just have to be.......SLICK
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Opportunity to buy gold coin...
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