Thanks for the info about Walmart and APMEX, Kaiser Wilhelm. I was imagining rows of display cases selling old coins at Walmart when I saw the ad. I did notice APMEX popped up when I did a coin search not too long ago, but have no idea who they are. The price they offered look quite reasonable but it made me wonder if the quality would match the price.

I think it is bad either way, Kaiser Wilhelm. If it is the way I speculated in the first post, then I think that means the profit we keep hearing the Treasury is sending to the Government every year is an inaccurate, inflated figure made to appear better through accounting tricks. If it is the other way (Government paying $42.22 but selling at near $1700 currently) I cannot help but feel like everyone has been overpaying for Gold for a long time. I know too little about finance/accounting to know for sure if that low book value is bad, but I think I know enough that it gives me a bad feeling seeing the figure is so far away from the retail price. I think book value was supposed to represent the averaged price paid of all current inventory of a specific item. I would think the book value should be considerably higher by now if that is true. If I am mistaken in that, then my whole speculation might be off base.

You’re asking for miracles.

Wow Rich, I do not know if I dodged a bullet, but I see I bought my 2007 Platinum set from the Mint in Dec 2008 for $1250. It was just chance I bought it then. I had recently decided I should have a bit of Platinum. It is too long ago for me to remember if I bought that set long after it was released or on the first day. The fact that it is dated 2007 and I bought it in late 2008 makes me think I bought it long after release. To think I could have paid around $3000 for that set (or for something else in Platinum) if I had decided I wanted a bit of Platinum earlier in the year is scary, like finding out later you were obliviously swimming near a shark for a while. The set appears to be valued today for more than I paid according to my quick internet search (Walmart is selling coins online now?), but that would not have been the case if I had bought it 6 months or so earlier. Wow Again.

Hi Rich,
Does that mean the government does not pay more than that per ounce? They appear to make quite a nice profit (certainly not a 2x or 3x cost basis profit, hahaha) on their Gold sales then. Is there something similar going on with the Platinum and Palladium prices as well? I figure Palladium is such a new coin material for them, there is no way they could have set a Palladium price in 1973. If the government is paying more than the book value for Gold currently, then it sounds like all this is about is an accounting maneuver to make the books show a higher profit than they are actually achieving. I think Congress needs to revisit that book value ASAP. While they are at, they can revisit the tax code pertaining to coin sales.

Oh, you’re familiar with the collective. I believe it’s also known as the IRS.

Nor gold pressed latinum.

Second that motion

Right you are No. 1.