Have been more of a bullion hoarder in the past rather than coins, but have a couple of quick questions I was wondering if someone could confirm regarding the Australian $200 gold coins as I'm looking at getting a few... They are still legal tender for $200 if redeemed at a bank correct? Actual gold value contained would be; 10 grams @ .917 = 9.17 grams of gold per coin Current AUD spot price per gram roughly $51.34 $470.79 AUD worth of gold per coin at current spot prices Am I missing anything here?
Same for $10 silver coins, $5 silver coins, round 50 cent pieces etc. Yes redeemable for $200 at the bank but if choosing this option i suggest you contact me first and i'll beat that price by 10%.
Perfect thanks all! I've never come across such a helpful forum in my life...wheres all the "duh, you're an idiot" and other abuse. Would you consider $480 to be a decent buy price on these? I can't see me getting them any cheaper at todays prices?
21% here They go for about $500-550 at auction so if you get $480 net that's a good price (remember if you sell at auction you'll have to pay commissions).
Very good price. Proofs with coa and box may go a little higher. Don't have to say where but is $480 an online price?
Yep its online, but through a dealer who has a store. They are uncirculated condition but no proofs or box etc, just coins by themselves.
Thanks Hiho, I have been wondering how to check the valuation on non-australia gold coins. Now it is answered
You won't get significantly cheaper; it's an excellent price. I've been buying quite a few of these here/ The latest purchase I'll link for your comparison: http://forums.silverstackers.com/to...-gold-for-2500-pride-of-australia-carded.html A good standard for comparison that many here use is W Davis. No-one here has ever sold me the equal of W Davis that I recall but some close. The price today for a $200 gold is $499, but note that is not necessarily carded or uncirculated; let alone proof, or other delicacies sometimes offered for sale at SStkers. See under Australian Coins column: http://www.wdavis.com.au/live-price-list.html
$480 for a $200 coin that is $470 spot at the moment? 2% above spot for ANY gold coin is a decent price - and the smaller the coin the more decent the price gets.
Theres no GST on top of that, and hes doing free shipping because I'm getting 2 at this point. If I choose not to buy out the entire stock I will reveal my source haha.
^^^ This ^^^ The $200 coin isn't my favourite because I am really fond of round numbers for ease of math. Like 1/10th, 1/4 and 1/2. Nice and easy. Ironically (stole this word from the shutdown thread LOL) I love Sovereigns. But FWIW - The above quoted wisdom is well worth listening to. I'd grab 'em in a heart beat and if they aren't your thing, trade 'em later on spot for spot
If you can trade the $200 coins ( that you bought for 2% above spot ) into silver at rate of SPOT for SPOT - than its a no brainer - BUY ALL the $200 coins ( use all funds ! ) and than convert them to silver for spot for spot. Now in most cases - silver trades AT HIGHER PREMIA than 2% ( excluding post 46 predecimal - very worn pre 46, 5kg bars & higher, obscure overseas 60 % silver coins ) - BUT ANYTHING ELSE IS A GO - bars 10 oz or even 1kg costs more than 2% premium, any coins ( Kooks, Pandas, ASEs, even Maples, even the rounds like Buffallos cost more than 2% premium. The profit obtained on such a trade ( EXCLUDING MOVEMENT IN GSR ) is the Premium difference between the metals. And if you could all accomplish it during a weekend for example CASH - $200 $200 - SILVER SILVER - CASH Your gross profit ( in CASH, since you started with it and returned back to it ! ) would be around 8% on top of the amount of funds you started with when you bought all the $200 coins. note: assuming that all the silver from the conversion was than sold at 10% premium to spot a general formula can actually be made to give better results, but cant be bothered now.
There's the UNC and Proofs in the $200. The Proofs ask a bit more and are much nicer. I've nearly completed the UNC from 80 to 94. Good to own but some are packaged in a way that makes it hard to make a nice display. I wasn't aware of this forum when I was putting it together, but from my experiences if you find them for $470 snap them up and feel real happy.
