Coin shop said it would pay me 95% of current gold commodity price for 1986 1 ounce $50 Eagle gold coin, mint.
Is this a good deal for me? Or could I get better elsewhere?
I would call a bullion dealer/broker instead of a coin shop. Call Kitco and see what they will offer you. https://online.kitco.com/selling/index.html
I would hold on to it if I were you. But Kitco or Monex would be your best bet.
“Coins have collectable value in addition to the value of the gold in them.” Yours doesnt have collectable value. Yours was minted for 1 purpose only “Bullion”. Numeristic coins are pre 1933. In 1933 to 1974 gold was against the law to own. Only those coins minted prior to the ban in 1933 have collectable value. These are known as numeristic coins. Those minted after the 1933 ban was lifted in 1974 were minted as bullion coins. Bullion is the same as a gold bar but to prevent it from having to be assyed the coins are reconizable and therefor its accepted as a coin with a fixed weight and value based on market price. Don listen to anyone who says it may have collectable value. It doesnt. Read up on this subject. There are lots of books available on this topic. The Collapse of the Dollar and How to Profit From It is a good resource book on this topic.
One ounce gold coin for a handmade suit, correct?
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