I was selling a $50 US gold coin. It was a one ounce .99% gold coin. The "spot" gold price from the day before was $1615. I did not expect the exact spot price because I know that dealers need to make a profit. They offered me $1200 for the coin. I said no thanks and left. I then went to a well know coin dealer in an adjoining city. The owner there took one look at the coin and immediately offered me $1600 on the spot. I took it!