| Author |
 Replies: 13 / Views: 1,980 |
|
|
Pillar of the Community
United States
882 Posts |
I am interested in buying a few gold coins for my collection. My question is, where/how do you go about buying gold US minted coins for close to melt value? From what I have seen, it may not be possible.
If I wanted to purchase a $10 gold coin, how much of a premium should I pay for it to be a half eagle? Of course it would be a lower grade, common, maybe even cleaned coin.
Any advice would be appreciated. E-bay seems to be like 25% over spot, from what I have seen.
Thanks,
Ty
|
|
|
|
Pillar of the Community
United States
3343 Posts |
Find a brick-and-mortar shop charging set premiums. The best deal I've gotten on US $10 Eagles was at a jeweler/coin dealer charging spot plus a premium of $35, which was +5% two years ago. I gradually bought the shop's low premium coins, but was willing to pay +$100 for a 1907 No Motto Indian. Grades were VF-XF.
The premiums he charged were in the same range for $5's, so I was better off buying $10's.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
09/21/2014 08:32 am
|
|
Valued Member
United States
114 Posts |
For a hundred year old coin, I wouldn't describe the difference as a "premium", since that's really the coin's numismatic value. As you said, the only way to lower that is to take a hit on grade or buy damaged.
|
|
Pillar of the Community
United States
3343 Posts |
At the time I did this, there were very few coins on ebay that were in the same price range, and none were close when it came to specific dates like the 1907. It was probably just blind luck, one dealer with a surplus at a time of general scarcity among dealers in general. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Bedrock of the Community
United States
11951 Posts |
Put up a want list here. I find them once in a while for 10 to 15% over spot.
If your willing to take your time I think some could be found
|
|
Pillar of the Community
United States
1691 Posts |
|
|
Pillar of the Community
United States
7641 Posts |
Go to your local coin shop or to a local coin show with a pocket full of money that you are willing to part with. Your local dealer should be able to help you out. Just let them know exactly what you are looking for and what you are willing to accept. Damaged gold coins that have been mounted in jewelry (aka ex-jewelry coins) can be had for a few dollars over "melt". Generally speaking, the worse the damage, the closer to melt you will be.
Once you purchase your treasures add them to your collection and enjoy them. Do not try sending them in for grading because they will come back exactly as what you purchased----- "ex-jewelry" pieces. You get what you pay for.
By the way, for older US gold coins a 10$ gold coin is an eagle, a 5$ gold coin is a half eagle. I always looked as an eagle as being close to a half ounce and a half eagle being close to a quarter ounce. You just had to do the math to see what you are going to have to pay.
|
|
Pillar of the Community
United States
3343 Posts |
Looking at current ebay, Ty is right. BIN's start around $750 for junk. That's 25-30% over the $575-600 gold content. You might do better in the auctions, if you're patient making $650 top bids. I saw a few shabby pieces that appeared to be selling below melt. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Pillar of the Community
United States
1750 Posts |
Buy nice looking, AU-58 common date US gold coins in PCGS holders. They are the most inexpensive pre-1933 gold and a PCGS holder gives you a lot of comfort that the coin is genuine.
|
|
Bedrock of the Community
United States
20753 Posts |
Taking a chance but the way Gold and Silver have been dropping in prices, I'd wait a while to buy anything in Gold.
|
|
Pillar of the Community
United States
593 Posts |
I took Carl's advice an waited. As soon as gold dipped below $1200 I bought a Half Eagle from APMEX for about 15% over spot with free shipping. It's a random date cleaned coin, so they say. They just received my check today so it will be a couple of weeks before I see my precious shiny. Has anyone else purchased cleaned gold coins from APMEX, and if so, was it a satisfactory experience? |
|
Valued Member
United States
291 Posts |
I've purchased bullion and certified gold from APMEX in the past. All my transactions have been very good experiences. |
|
Bedrock of the Community
Australia
21788 Posts |
A a common date BLP $5 Half Eagle in perhaps EF or AU would be a good way to go. Excellent unique design.
If you like the excellent design by Pistrucci of St. George & Dragon of the British Sovereign again perhaps in EF or AU, you would not be able to do much better.
Both are available at all bullion dealers that also do gold coins.
|
|
Pillar of the Community
 United States
5029 Posts |
I have not purchased a gold coin from APMEX, but have purchased bullion gold and silver. I have not had a bad experience with them yet. |
| |
Replies: 13 / Views: 1,980 |
|
Posted 09/21/2014 06:51 am
