Good Deal??

[bblair]

I went to the Whitman Coin Expo in Baltimore today with a couple rolls of 40% halves looking to see if I could make a decent trade. I had offers of $60-$78 per roll. I went with the $78 per roll offer ($3.90 per coin and best offer) and picked up a 1/10th oz American Eagle Gold coin for $177, so I had to pay a difference of $21. As my 6 year old daughter and I were walking away the dealer said "hold on" and handed me a 1921 Morgan to give to my daughter.

I'm pretty happy with the deal. I know "trading up" has been a topic on here of late and after reading a lot of comments I decided gold was the way to go, because if I just traded for silver, I'd be losing ounces. I know 40%ers don't carry much of a premium, and silver and gold are both on the downswing, so I diversified my portfolio a little bit.

I would have loved to pick up an Indian Head or Liberty Head quarter eagle, but their numismatic value made them a little too pricey right now.

Just wanted to get some opinions, good deal??

Thanks!

 

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[CoinFetcher]

Sounds good to me. The Morgan was the icing on the cake though.

 

[Piledriver]

A good deal is a deal that makes you happy.

I personally do not do any trading; I calculate that the maximum value may be extracted from silver coin when given in trade for END USE,

that is,

...the final trade, after which you are done with it.

Let me illustrate....I do not save to make money in the short term.
I save in order to ward off disaster when and if it occurs.

My house burns down? I go to the bank, get silver, cash it in, and meet the need.
Starvation hits America? I get it from the bank, and trade it for cans of chili beans.

That's my good deal, because that makes me happy.

Keep on Rollin' !

 

[crhstreetwalker]

Wow. I wish I could unload 40% for $3.90 a coin! Especially with melt being $4.06 the last time I checked. You got a smokin deal.

 

[ArkieBassMan]

I agree with PD...any deal in which you're happy with the outcome is a good deal...regardless of whatever was traded for what you wanted.

Regardless, $177 for a 1/10 oz gold coin + a Morgan is about as good a deal as you're liable to find. Got a good price on your 40% as well. I would have made that deal in an instant.

 

[chrisplay2004]

Agreed...I would have taken that offer also. Plus trading up and a Morgan, nothing wrong with that.

 

[maverick]

A good deal is a deal that makes you happy.

I personally do not do any trading; I calculate that the maximum value may be extracted from silver coin when given in trade for END USE,

that is,

...the final trade, after which you are done with it.

Let me illustrate....I do not save to make money in the short term.
I save in order to ward off disaster when and if it occurs.

My house burns down? I go to the bank, get silver, cash it in, and meet the need.
Starvation hits America? I get it from the bank, and trade it for cans of chili beans.

That's my good deal, because that makes me happy.

Keep on Rollin' !

+ 1, I save mine for "Just in case of" reasons too.

 

[bblair]

Thanks for the feedback guys.

I agree with the save for disaster scenario too, but I thought I could part with 2 rolls of 40%, I've accumulated a decent amount since I started and hope to replenish that pile soon.

 

[madwest]

A good deal is a deal that makes you happy.

I personally do not do any trading; I calculate that the maximum value may be extracted from silver coin when given in trade for END USE,

that is,

...the final trade, after which you are done with it.

Let me illustrate....I do not save to make money in the short term.
I save in order to ward off disaster when and if it occurs.

My house burns down? I go to the bank, get silver, cash it in, and meet the need.
Starvation hits America? I get it from the bank, and trade it for cans of chili beans.

That's my good deal, because that makes me happy.

Keep on Rollin' !

I like PD's thinking here, but I want to point out that you can, if you work at it, get farther ahead by trading up, and in fact by trading down.

Not many ppl realize that last spring, gold was the cheapest it's been in 30 years (in terms of silver). In May of 2011, you would get 1oz of fine gold in exchange for 32.5oz of fine silver. Today, you get 55oz of fine silver in exchange for 1oz of fine gold. You can advance your overall holding of precious metals if you trade up or even if you trade down - presuming you do it through channels with reasonable margins and when the ratio is favorable one way or the other.

 

[cooper36]

I went to the Whitman Coin Expo in Baltimore today with a couple rolls of 40% halves looking to see if I could make a decent trade. I had offers of $60-$78 per roll. I went with the $78 per roll offer ($3.90 per coin and best offer) and picked up a 1/10th oz American Eagle Gold coin for $177, so I had to pay a difference of $21. As my 6 year old daughter and I were walking away the dealer said "hold on" and handed me a 1921 Morgan to give to my daughter.

I'm pretty happy with the deal. I know "trading up" has been a topic on here of late and after reading a lot of comments I decided gold was the way to go, because if I just traded for silver, I'd be losing ounces. I know 40%ers don't carry much of a premium, and silver and gold are both on the downswing, so I diversified my portfolio a little bit.

I would have loved to pick up an Indian Head or Liberty Head quarter eagle, but their numismatic value made them a little too pricey right now.

Just wanted to get some opinions, good deal??

Thanks!

you got a good deal. And with the dealer giving your daughter a morgan dollar he is trying to continue what you are doing as in giving her a hobby she will enjoy.

 

[Generic_Lad]

A good deal is one that you are happy with at the end of the day. Only you can say what a "good deal" is.

 

[jarlbartar]

I think its a good deal - you got rid of a bunch of 40% that ake up space and got a gold coin and your daughter got a Morgan. I would take that deal all day long!

 

[namster]

If people are starving they are not going to trade food for metal. Just saying.

 

[Merc Crazy]

I sold a whole bunch locally for 7.75x, and I thought I did great, so I think you did pretty good yourself.