If the price of gold is $1000 an ounce, what would a one ounce American Eagle typically cost at your neighborhood coin shop?
We sell them for the price of gold plus $85. We’re a pretty big outfit, a smaller place might charge a bit more. Some of the behemoths might charge as little as the gold price plus $75.
I’m not sure what gold is going for now - I just paid 1212.58 dollars for a gold coin.
Gold was about $1114. US/oz today.
What gold coin did you buy?
Dang. If I sold my Canadian coin I could triple my money!
But then I’d only have $1,200 (eleven, anyway), and I wouldn’t have the coin.
We buy Canadian Maple Leafs at spot. Today, $1114 U.S.
I’ve got a Canadian Olympic gold coin from the Montreal 1976 Olympic Games. I wonder how much that is worth.
Never mind, you already answered my question.
Roddy
They came in two versions–the uncirculated kind which is 0.25 oz. of gold. It was packaged in a see-through cardboard thing. The proof version originally came in a wooden box. It has a mirror-like surface. I think it contained 0.50 oz. of gold.
You could probably get about 90% or more of the gold value.
Of course the rarity of the medal should increase the price, perhaps making it worth more than if it was melted down, no?
Each year I buy a once ounce gold coin, usually an American Eagle. (One year I think it was a Chinese Panda.) I also buy 25 Silver Eagles each year.
I know that the days of a coin going rare and making a man wealthy are over - but I like keeping them. (The 1996 silver eagles did go way up in price though, and I’m not sure why.) I must have close to 1000 ounces of silver and 8 or 10 ounces of gold.
I often give a silver eagle as a present to commemorate an important event - I’ll give one as a wedding present along with a check for instance.
It’s not an Olympic medal – it’s a gold coin, sold to anyone who wanted one, as part of a way to pay for the cost of the games. I think I paid $100 for it in 1976.
It’s in my safe deposit box, so offhand I don’t know which version it is.
Why would it be worth less than it’s melt value???
Because smelters don’t work for free and even if a shop is keeping it “as is” they need a little room in case the price drops. The folks I work for buy 10% under and usually sell 5% over but if you track our actual inventory and profit over the year it works out to about 4% profit by the time its all said and done. It’s one of the major reasons we do bullion but we prefer numismatic pieces. (more and more reliable profit)
Sorry, bad joke, the Canadians didn’t win any gold medals at that Olympics. Carry on.