Going To Buy Gold Coins!

Hey, I LIKE Spam and Top Ramen, and I ride a 23 year old motorcycle. I have no mortgage payments and probably close to half or more of my income goes into my collection I AM enjoying my life.

Check out http://www.coincommunity.com/us_coin_facts/

I looked up the $2.5 it say 4.18 grams of 90% gold. I would expect the $5 to have 2x that, and the $20 to have 8x that.

the
$1 Gold=0.04837 oz
$2.50 Gold = 0.12094 oz
$3 Gold = 0.14512 oz
$5 Gold = 0.24187 oz
$10 Gold =0.48375 oz
$20 Gold = 0.96750 oz

These are straight out of the RedBook.

My advice if buying gold coins is to read up on them and look for lower mintage dates (esp in Liberty series), many can be had for close if not the same price as a common coin with x10 or x20 the mintage.

Remember Knowledge is key to avoiding lots of mistakes, also if this is for your 7070 it might be best for you to get a couple really nice coins for the album rather than a pile of melt value worn pieces.
My $0.02

ok, quick update.

wife and I went to the coin shop and we did not buy anything. he dealer was very knowledgeable, being 64 yrs old, he had a lot of info about buying gold.

the final verdict in this venture I think will be gold bullion. as young as we are, early 20's, we have a chance to invest. he was discouraging us to buy "date" gold, the saints, indians, etc. for my wife and i, getting as much gold as we can for closest to spot is what we want. I'm kinda bummed, because I really wanted to fill some holes in the 7070, but this way, at least in theory, we can sit on this gold for a while, and later on in life when we are more established, we can look at buying "date" gold as a collectible.

so there you go. we will wait till next week to order a 1oz bar and invest the rest in silver rounds. with splitting it into silver, with the way silver is going, I think it will do pretty well. at my dealer I can get it close to $18/oz.

an honest and trustworthy dealer?

again, givin my situation, I understand what he is trying to do. he is helping my wife and I get the better investment, to get as much gold for our dollar. he told me that the date gold, a 1907 saint, which had a $3-400 premium would not be a better investment for us at this time, as we are getting our feet wet. understandable, and I understand that if the economy tanked, a date gold would be just as much as the amount of gold in the coin. I have a hard time getting my mind around buying a gold bar, for one, if never done it, and 2, I like coins so much its just plain hard...

however, everything I am reading is telling me that gold could go up past 2k in the next 2 years, but others say we are at a peaking point, so now is not the best time to buy. even silver sounds good right now too, my in-laws bought a few K of maple silver rounds $5 back in the 90's when silver was $5/oz. not bad.

i can definitely see silver going up more and more. I just do not know if buying gold right NOW, is the smartest thing to do...

i just dont get it..


i feel like I'm taking crazy pills!

i cannot understand why my dealer would discourage me from buying date gold. I know that my wife and this dealer want the most gold for our $$. but I keep reading that date gold, old coins, do better in the long run. I KNOW that buying date gold is not getting the most gold for your dollar. I KNOW. I realize that they carry a BIG premium. sometimes 500%. I've done research for the past 2 weeks on what kind of gold to buy. and that all goes down the drain when we talk to the coin dealer. WHY? why should I trust him? he has givne be loads of helpful info, hes wise, he's been there before. I KNOW. he keeps telling me " you buy the saint, youll be grabbing your ankles wishing you didnt." WHY? your kdding me. why would I buy a bar or bullion coin that is solely based on 1 market, the gold market. and I buy the bars,bullion coins, I am limiting myself to the volitility of the market. I understand that buying a date gold coin is also risky in that it rises and falls with the gold market as well, but it also has the rarity and trades with the numismatic value as well. I feel like I'm the only one that gets this!

im so frustrated because I really wanted to buy date gold. WHY? because I think its a good investment. because I read that it does better in the long run. but who the $^#%^ knows anymore what the market will do. screw this.

i cant make up my mind. I feel like I cant make a decision. I dont want to buy a bar or bullion coins because I think they are more volatile, and my dealer disagrees. huh. hes trying to protect my wife and I from making a bad discision? hes trying to help? I dont feel like he is.

please someone back me up on this or tell me that I am wrong. someone please plead the case that date gold is NOT smart and I will beleive you. but searching the net on what to invest in, what kind of gold coins are safer or better investments, why are people telling me to get date gold and my dealer isn't?

i know. I just need someone to give me unbiased pros and cons to buying date gold