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- - Gold Maple Leafs as junk gold bullion (http://goldismoney.info/forums/showthread.php?t=265043)

cosmolothrentas | 05-13-2008 11:33 PM
Gold Maple Leafs as junk gold bullion What percentage of the surface of a Gold Maple Leaf would be marred with significant scuffs and scratches in order to rank the coin as junk gold bullion? More than 25% 50% 75%? I am looking at some ML's that have scuffing and scratches to over 50%-75% of the surface and the dealer is asking only $10 less than other ML's I could purchase in near flawless condition. I know ML's are just bullion coins, but there is really significant scuffs and scratches - in that case, how much over spot would you expect to pay? For $10 more per coin I can buy nice unscathed ML's. The scuffing is strange, like intentional...they look abused. As you turn them you see different patterns of rubbed scuffing. I think I should only pay $10 over spot for them. To me they are almost junk gold spot-price bullion. But they ARE Maple Leafs. So how should I proceed? Make the offer at $10 over spot? If I bought them and then went and sold them tomorrow to another dealer, I am sure they would be treated as mere bullion and I would be paid the standard $20-under spot. They are 2002's. Thanks!

Rebel Yarr | 05-13-2008 11:43 PM
Re: Gold Maple Leafs as junk gold bullion Id pay 10 more for uncirculated ones IMO. I would pay spot for the beat up ones - and in some cases under spot. You are talking 10 bucks on a 900 investment - don't touch that scuffed one to save 10 bucks IMO.

EireGoBragh | 05-14-2008 07:03 AM
Re: Gold Maple Leafs as junk gold bullion Quote:
Originally Posted by Rebel Yarr (Post 1102523) Id pay 10 more for uncirculated ones IMO. I would pay spot for the beat up ones - and in some cases under spot. You are talking 10 bucks on a 900 investment - don't touch that scuffed one to save 10 bucks IMO.
Agreed, what's $10 on an ounce of Au? Pay the $10, have a pretty coin and be sure

j-son | 05-14-2008 08:05 AM
Re: Gold Maple Leafs as junk gold bullion garbage is garbage...get the pretty ones.

Metalophile | 05-14-2008 08:15 AM
Re: Gold Maple Leafs as junk gold bullion Bullion is Bullion. If you're one to take your bullion out periodically and admire it, then I'd pay the extra $10. If you're going to sock it away in a hiding place for WSHTF, then buy the scuffed one and a 20 lb. bag of rice! Someone probably just wore it as a piece of jewelry for a while or carried it around to fondle it periodically.

AuNuggets | 05-14-2008 09:59 AM
Re: Gold Maple Leafs as junk gold bullion Gold is gold....... BUT, the scuffed ones will be harder to resell, and you should not expect much more than scrap gold prices. I would never pay over spot melt for scuffed up Maples, Bars, or other .999 gold, and usually less unless I just had an immediate need for some melt material for alloying and casting.

cosmolothrentas | 05-17-2008 10:19 PM
Re: Gold Maple Leafs as junk gold bullion My problem with any gold bullion coin that is not sold at spot, or at least no more than $20 over spot melt value, is this: my immediate LOSS in a dealer's market: All (most) dealers I find have the ML's at $35-$45 over spot. Well, now if I have an emergency the next day and sell back my just purchased ML bullion to a dealer (and they all pay $20 under spot for an ML), then it stands that when I purchsed it the day berfore, I knowingly bought a ML coin with an immediate loss to me of around $50 to $60 (paid $40 over spot, sold back at $20 under spot) in order to to own a ML for a day. So if bullion is bullion, why would I EVER choose a ML instead of a Kruggerand? I would only lose $20 to $30 at most with one of those. If I am not clear it is just quick math: Gold spot is say $870. I pay a dealer $930 for a ML. The day after I have an emergency. Gold stayed at $870 spot. I find a dealer to buy my ML and he pays me $850 for it. So....I paid $80 to own an ML for a day. WTF? This is why I don't understand the "bullion is bullion" mantra. And a scratched or scuffed ML... I am still getting $850 from the dealer. So why not pay $10 less for a scratched up ML? Thanks

Sparky | 05-18-2008 12:24 AM
Re: Gold Maple Leafs as junk gold bullion Quote:
Originally Posted by cosmolothrentas (Post 1107750) WTF? This is why I don't understand the "bullion is bullion" mantra.
Because it's bu11$h!t. If bullion is bullion, and gold is gold, and silver is silver, there would only be two prices. One for gold, and one for silver. But there isn't. And after TSHTF, a Silver Eagle will still fetch more rice and beans than a silver round.

cosmolothrentas | 05-18-2008 01:18 AM
Re: Gold Maple Leafs as junk gold bullion Quote:
Originally Posted by Sparky (Post 1107841) Because it's bu11!t. If bullion is bullion, and gold is gold, and silver is silver, there would only be two prices. One for gold, and one for silver. But there isn't. And after TSHTF, a Silver Eagle will still fetch more rice and beans than a silver round.
But a ML will not fetch more steaks than a Kuggerand when TSHTF. They'll buy the same amount of steaks. And a dealer will pay same under-spot price for a Kruggerand as he/she will for a ML. Are there any ML defenders here? I don't get the hype. As TSHTF gets ever closer, I want to avoid hype and choose as wise as possible. I understand being a "buff" for a certain coin or whatever...but I just don't understand it in this day and age if the point is to PREPARE. I have as many rounds as I do SE's, but I take your point...I think you are right....I'll be converting my rounds over to SE's, or even silver ML's. What is funny is that as this gold ML mentality continues , there WILL be numismatic value on gold ML's at some point. Otherwise, why ANY discussion of scratched ML vs. non-scratched?? The current psychology is building numismatic value into ML's. In that regard, it is best to buy flawless ML's if you choose to buy them, I suppose. Personally I think the SHTF will be major, and the numismatic game will be over. That being said, I will have a couple flawless ML's since I am not a prophet.

Twisted Avatar | 05-18-2008 06:46 AM
Re: Gold Maple Leafs as junk gold bullion Quote:
Originally Posted by Metalophile (Post 1102814) Bullion is Bullion. If you're one to take your bullion out periodically and admire it, then I'd pay the extra $10. If you're going to sock it away in a hiding place for WSHTF, then buy the scuffed one and a 20 lb. bag of rice! Someone probably just wore it as a piece of jewelry for a while or carried it around to fondle it periodically.
Bump T........

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