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#1334450 - 08/25/06 02:58 AM What is the GSA hoard?
dazedandconfused Offline
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Registered: 08/24/06
Posts: 8
I'm new, obviously. Can you tell me what I would be expected to pay for a gold, 1886 $5 Liberty coin in an NCS slab marked only "GENUINE"? I'm told it is from the GSA Hoard but I don't know what that means. Thank you very much.

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#1334451 - 08/25/06 03:06 AM Re: What is the GSA hoard? [Re: dazedandconfused]
Bruceswar Offline
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Registered: 10/27/03
Posts: 8296
Loc: Mesquite, Tx
GSA referrs to a government release of Morgan Dollars. Mainly CC(Carson City, The Mint) Coins but some other mints as well. Also Ikes came out in the same type holders. I was not aware of any gold coming out in the hoard. The fact it is NCS holder means there is a problem with the coin. It is real, but it is problem coin. If you really want the coin then I would not pay much over spot for it. 1880 is a common date as well. Good luck and ask away. Welcome as well!
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#1334452 - 08/25/06 11:18 AM Re: What is the GSA hoard? [Re: Bruceswar]
dazedandconfused Offline
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Registered: 08/24/06
Posts: 8
Thank you so much for answering my question, I appreciate it very much. Now my question is what do you mean by "i wouldn't pay much over spot" for it? What is the 'spot' price and where will I find it? I see I have MUCH to learn. Thanks again. p.s. The coin is 1886 $5 gold Liberty, not 1880. Would that make any difference in your previous answer? Thanks.

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#1334453 - 08/25/06 11:25 AM Re: What is the GSA hoard? [Re: dazedandconfused]
truthteller Offline
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Quote:

Thank you so much for answering my question, I appreciate it very much. Now my question is what do you mean by "i wouldn't pay much over spot" for it? What is the 'spot' price and where will I find it? I see I have MUCH to learn. Thanks again. p.s. The coin is 1886 $5 gold Liberty, not 1880. Would that make any difference in your previous answer? Thanks.




"Spot price" is the current trading price of precious metals trade. For example, New York commodities price for gold is currently $623, or what traders will pay for a troy ounce of gold for immediate delivery. "Futures" relates to precious metals contracts for delivery at a future date. To pay "over spot" means to pay more than the content of the gold or silver coin. The Red Book has actual gold or silver weights of coins and simple math can figure out the "melt" or "spot" value. Kitco.com has all precious metal spot prices.


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#1334454 - 08/25/06 07:58 PM Re: What is the GSA hoard? [Re: dazedandconfused]
Bruceswar Offline
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Registered: 10/27/03
Posts: 8296
Loc: Mesquite, Tx
Quote:

Thank you so much for answering my question, I appreciate it very much. Now my question is what do you mean by "i wouldn't pay much over spot" for it? What is the 'spot' price and where will I find it? I see I have MUCH to learn. Thanks again. p.s. The coin is 1886 $5 gold Liberty, not 1880. Would that make any difference in your previous answer? Thanks.




No Not one bit.. 1886 is a common date.
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#1334455 - 08/26/06 01:42 AM Re: What is the GSA hoard? [Re: dazedandconfused]
Beijim Offline
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Registered: 11/06/02
Posts: 1126
GSA stands for the (United States) General Services Administration, a federal acquisition agency charged with assisting other federal agencies in sourcing products and services and in assisting the public in accessing federal government resources.

The GSA inherited the task of distributing to the public the previously unknown quantities of coins that had been long forgotten in Treasury vaults. As might be expected, it took the GSA many years to accomplish this conceptually simple task.

Beijim

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#1334456 - 08/26/06 03:47 AM Re: What is the GSA hoard? [Re: Bruceswar]
dazedandconfused Offline
Just got here


Registered: 08/24/06
Posts: 8
Hi Bruce,
Thank you for the welcome and the info. I'm waaay over my head here and think I've probably been 'had' re my purchase of this coin without FIRST finding a website like this but, live and learn. ( I do have 30 days to return it ,supposedly, tho one of the #s is no longer in service tsk.) In your message, you said 'ask away' so I have another question for you since it seems you know your way around this website. I posted a question on the paper money place and , though 545 people have viewed it, nobody has answered. Is there a 'protocol' that I should know about? Also, I have 'searched' but can't seem to find how to scan a pic into a post. Can you help me find that info ? I'm a bit of a computer moron but do have a good scanner. Aren't you sorry that you said 'ask away'? Mostly, I wanted to say thanks for the warm welcome. Thanks Bruce.
Carol

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#1334457 - 08/26/06 04:08 AM Re: What is the GSA hoard? [Re: dazedandconfused]
dazedandconfused Offline
Just got here


Registered: 08/24/06
Posts: 8
Thank you Beijim and Truthteller also. I need all the help I can get.

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#1334458 - 08/26/06 04:16 AM Re: What is the GSA hoard? [Re: dazedandconfused]
Bruceswar Offline
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Registered: 10/27/03
Posts: 8296
Loc: Mesquite, Tx
Carol,
Let me start off by saying that the paper side of the forum is slower. Maybe you can repost your question here. As to how to load a scan into the post its simple. First make sure when you scan you make it a decent size 150KB or less. Then when you go to make a post there is a section for attaching photos. "I want to preview my post and/or attach a file" Make sure that box is checked. Then there is a section where you can select your photo. It will come up as an attachment. After that you can either edit your post copying the attachment link into the post. Use the "Image" button. That should work. Good luck.
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#1334459 - 08/26/06 04:29 AM Re: What is the GSA hoard? [Re: Bruceswar]
dazedandconfused Offline
Just got here


Registered: 08/24/06
Posts: 8
thanks again Bruce. I'll try that (scan) and see if I can get the hang of it.

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