I have a question on the worth of a gold coin
 

I am selling a PCGS MS 62 1904 $20 gold piece.

I am asking 1k shipped and I figured it would go pretty quick. I was under the impression it was worth $1100-1200.

Am I way off on the worth of the coin? Am I asking too much?

I was hesitant to pick up a graded coin instead of bullion for just this reason.

If anyone has any help I would appreciate it.

Mike

Re: I have a question on the worth of a gold coin
 

that's a good price for that coin... old slab too so it may even be undergraded...
I saw your pic- it's really a nice looking coin, I'd buy it in a heartbeat but I don't have that kind of money...
I hate being poor. :thumpdown

Re: I have a question on the worth of a gold coin
 

Worth is a relative term. I suggest that you may be considering the retail price out of a dealers showcase. It may well take some time for you to realize that price for the coin. Best of luck for a quick sale.

'cubed

Re: I have a question on the worth of a gold coin
 

What general area are you located in?

Re: I have a question on the worth of a gold coin
 

Thanks for the insight folks.

I am in North Central Arkansas.

I am learning. First I found that 40% silver is not at all liquid in my area. In fact it was hard to trade off so now I stay away.

Now I am finding the same kind of thing on graded gold pieces.

I know there is a market and if I am patient It will sell... but I think in the future I will stick to bullion at as close to spot as I can get.

Heck gold might just close the gap this week.

Thanks again
Mike

Re: I have a question on the worth of a gold coin
 

Seems like a fair price to me. Gainsville Coins has Common Date Liberty $20 MS62 (NGC or PCGS) going for $1110. If I had the cash right now I would take you up on it.

Re: I have a question on the worth of a gold coin
 

There is an old saying... you can never ask too much - only too soon.

As a reference FWIW, back in June 07 when spot was 646 I was buying ungraded saints and Lib for 685 and NGC & ANACS MS-62 for 700 ea. There were plenty to choose from back then.

A couple months ago when gold was 783, I could pick up raw $20's for 800-810 and 62's for around 825-30

This weekends show, with spot at 880.50 I didn't buy any old gold but there was a lot of it in the dealer tables priced in the 1100-1200 range. Very little in the way of raw coins and they too were $1000

Bullion was fairly cheap- I bought Buffalos for 900 and GAE for 898. Rands were 884 and just about all others 890.

If you have nice coins, you will get your price and in todays market I would say you are not overpriced.

Re: I have a question on the worth of a gold coin
 

Liquidly was one of the primary reasons I went bullion only (and because I thought gold and silver were undervalued after being in a 20 year depression).

You will find a buyer for your graded coin, your price is reasonable...but the reality of the market is there are fewer buyers for coins with a premium higher than bullion.

Re: I have a question on the worth of a gold coin
 

Thanks for the continued insight.

I bought into silver and gold because I see where our economy is headed.

In my area SAE and GAE seem to retain their premium and are also the most liquid, with straight bullion coins being second to this.

90% silver is also pretty easily gotten rid of but at a little under spot.

I have only figured this out by selling small amounts as I needed operating cash. I am glad I have done this.

When everything unravels it would suck to be invested in something I either had to wait to sell or had to sell at a loss.

For me I will stick to buying bullion from now on.

Mike

Re: I have a question on the worth of a gold coin
 

Since 2003 Gold Bullion has way out performed those run of the mill numismatic gold coins.

Since 2003 Gold Bullion has even out performed Silver Bullion.

Common Numismatic Gold coins although they are pretty are a bad investment these days.

End of Story!

Re: I have a question on the worth of a gold coin
 

Experience is the best teacher as you know...I've also honed my strategy by having sold various gold and silver coins and bars. I consider GAE's and SAE's bullion, with a higher premium than some other forms, but considering the higher premium when you sell, the spread between buying and selling is about the same as anything else and the liquidly is better.

I've gone the whole gamut concerning types (European fractionals, GAE's, SAE's, 90%, 1,10, 100 oz bars, 1oz rounds, Maples, Libertads, etc.) and if I could do it all over again, I would probably have been better off with GAE's and SAE's...they are now the standard in my book.