Going To Buy Gold Coins!

i talked with my local coin shop today over the phone and told him of my situation. he let me know of some of the coins he had available. it sounded like he had all denominations. And he said they were mostly xf-au. now I am not sure, until I see them, if they are PCGS slabbed or just eye balled.

i know he said he had a st gaudens for $1400, not sure of the date, but I'm guessing its common date. I'm thinking about it. but again, I have to do some more research.

i heard some of you mention dates. key and semi key dates. I know that these hold a lot higher premium, but again my budget can only get my less then 2oz.

again, my goal is not solely for investing purposes. I'm viewing this undertaking as a great start to my 7070 and a decent start to a gold investment.

if I can, I would like to pick up the a $1, $2.5 and maybe the $20 gaudens.

i will know a lot better when I get the prices the coin shop

i get that feeling.. (being swayed)

i understand, and completely agree that the interest on my mortgage will be the best financial return success. however, I love coins, and everything about them.

i also understand that, yes, I would be able to use the money saved down the road. but I am here right now with this opportunity.

if the economy goes the way it has been, my mortgage, (which by the way, $79k.. we have a nice 1br condo) may be underwater. more than likely not b/c these condos went for 300k just 6 years go. so, they way my situation presents itself, if the market does do better, my house appreciates, and hopefully gold will stay where its at.

all in all, I personally feel that owning gold in tangible amounts is smarter for my wife and i's situation.

this way, we can invest so to speak and have a fun time doing it by buying some great valuable old coins and fill some holes in the 7070. whos knows, if I dont buy them now, someone else might or my house might crumble in the next big earthquake..LOL... I will let you all know this weekend what we get!

cheers!

Semi-keys and keys almost always have the better return then commons. The only way I see a common doing better would be if the price of gold were to rise very fast, and I honestly do not see much that would support a high gold price.

I understand what people are saying that there may be "smarter" ways to spend your money, but that's not what this is about. He wants to kill two birds with one stone. Buy something that will increase his precious metal holdings, hold it's value, and also strengthen his collection, and I think it's a great idea! In my opinion, the St. Gaudens series is one of the most beautiful, hands down. There is nothing like feeling your first BIG gold Saint in your hand. So, my advice would be to purchase a $20 St. Gaudens Liberty, and a $10 St. Gaudens Indian in AU. That should take you to about 2K, and you will have several beautiful, artistic, historic, and decent sized hunk of gold that will fit beautiful into a 7070 type set. I would recommend certified just to be safe; but break them out if you want to put them into your type album. If you can get some of the tougher dates, that would also be recommended. Good luck!

Last year, I bought the UHR gold coin, beautiful coin. This year, I have purchased 7 1/10 ounce Gold Eagles. Could I have taken that $2,000 and paid down my mortgage? Absolutely. Would I have some gold coins to enjoy? Nope.

But, I do pay extra on each mortgage payment, $100 to $200 a month.

To the extreme, we could live on spam and top ramen, drive 30 year old cars, and put everything towards the mortgage. But that is just not enjoying life.

Also, remember, mortgage interest is tax deductible (for now). So while not really fantastic, it is a benefit when you have a mortgage. And if you sell the house, you have leverage when you have a loan.

Go with the 1/10's and 1/4's. Easy to store, easy to sell and beautiful to look at.

as my research deepens, I am reading a lot on what to buy. I hear people saying when you buy gold coins, by fractional. I also hear them throw out scenarios like " when our society goes back to using gold and silver as currency, its beter to have fractional, if you buy supplies with a $20 st. gaudens, and explain, there is .9675 oz in this coin..." so the theory of buying a st gaudens for investment purposes goes out the window if our society tanks and we go to gold for the standard again. because there will no longer be a numismatic value on them.

your thoughts ?

YES! That is exactly why I'm a fan of classic gold numismatic coins, because you are essentially putting your money in two markets(precious metals and numismatics). Gold is gold, and no ammount of damage to the numismatic world will make your coins worth less than their melt value. With that said, I don't really consider gold coins purchases as much of an "investment", more like a hedge...but if you enjoy gold coins as collectors items, then it makes up for the fact that you could have invested "smarter".

My last two purchases from ebay on those two gold types was a 1922 $20 Saint PCGS AU-58 for $1300(better date), and a 1907 AU-55 ANACS $10 Indian for $715(also a better date); both when gold was hovering around $1100. So it can be done.

This site seems to have good prices: https://www.gainesvillecoins.com. I do have to warn you buying gold coins is addicting. I bought from this site several times and always receive the items in less than three days (depending on the shipping I choose) and I am very satisfied with the quality.