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!

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.

Re: Gold Maple Leafs as junk gold bullion
 

Agreed, what's $10 on an ounce of Au? Pay the $10, have a pretty coin and be sure

Re: Gold Maple Leafs as junk gold bullion
 

garbage is garbage...get the pretty ones.

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.

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.

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

Re: Gold Maple Leafs as junk gold bullion
 

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.

Re: Gold Maple Leafs as junk gold bullion
 

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.

Re: Gold Maple Leafs as junk gold bullion
 

Bump

T........