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American Gold Eagles MS69
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ravenwoods View Drop Down
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Joined: 02 Nov 2009
Location: United States
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Posts: 11 		Post Options Post Options   Quote ravenwoods Quote  Post ReplyReply Direct Link To This Post Topic: American Gold Eagles MS69
    Posted: 05 Nov 2009 at 8:45am
My dad had some NGC graded American Gold Eagles, MS69. Can one sell those at a premium? Or do you have to wait 100 years before their value is higher than the Gold spot price? I suspect it isn't worth it to buy graded gold coins if you don't plan to hold on to them for 50-100 years.
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sethr View Drop Down
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Joined: 08 Sep 2006
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Posts: 9 		Post Options Post Options   Quote sethr Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2010 at 8:28am
Originally posted by ravenwoods

My dad had some NGC graded American Gold Eagles, MS69. Can one sell those at a premium? Or do you have to wait 100 years before their value is higher than the Gold spot price? I suspect it isn't worth it to buy graded gold coins if you don't plan to hold on to them for 50-100 years.
Who told you that?  Sure it may take a while to be higher than spot, but some go up fairly quickly--mint errors, low mintage, low sales by the mint.
 
But, eagles bought at $2.50 over spot in 2006 at $551 are now selling for $1225 on ebay.  About $1180 or so after fees.  What's the complaint?   Did your bank account double in four years?  Not even close. 
 
BTW- MS69 in gold eagles isn't very special.  Most of them hit that way--especially for dealers Wink.
 
As for the higher net stuff, you should have bought the old to begin with.  I bought a 1907 St. Gaudens for a little over $800 in 2006 ($550 spot).  Then I kicked myself in the butt over and over.  What the heck did I tie that money up for.  It's now $2100 to 2500 retail (PCGS retail).  It wholesales for about $1800.  I'll just dump it and walk away.
 
The point is get in and get out at a profit.  The price 50 years later is a lot of inflation built in.
 
 
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