Afternoon everyone….
Today I’m going to share a coin that I have shared before. It’s been a year and a half since I’ve shared it. But I’m sharing it for a completely different reason and purpose.
I purchased this coin at the Las Vegas silvergoldstackers meet up in Las Vegas last year. I only had two specific coins on my buying list then. It was either a 2023 American Gold Buffalo, or a graded $10 Indian coin.
The spot price of gold at the time was just under $2,100. I couldn’t find a dealer selling any American Gold Buffalos for a reasonable price. So I started looking hard for the exact $10 graded Indian coin.
There were several there to choose from, since it was a national coin show. There were various grades of them as well. I already own a graded version of this coin in an MS62 grade, so I was thinking a nicer example was what I was looking for.
It ended up being between two coins from two different dealers. Both were graded MS64 and both were beautiful. So it came down to who would give me the best deal.
I tried to haggle with both, but the one dealer stood firm. I ended up buying the coin for $1,300. Which at the time was a $250-$300 discount to what they were selling for on auction sites.
Fast forward to today….
This coin contains a half ounce of gold. So the melt value alone now is $1,305. The coin is currently selling at auction for between $1,950-$2,300. Those are past 60 day completed auction prices of the same exact coin in the same exact grade.
The point I am trying to convey to everyone is, that buying historical graded coins is a huge profit maker. Especially if they are gold, but also very huge in silver as well.
At the time of this purchase the coin was roughly $270 over spot price. Now the coin is worth roughly $700-$900 over spot price. Collector are gobbling up historical graded coin like no tomorrow.
There’s tons of money to be made in short periods of time. In just 18 months I could make between $800-$1,000 on a $1,300 investment.
What do you think…
