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Advice On Gold Coin Purchase

 
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United States
38 Posts
 Posted 10/22/2019  8:12 pm Show Profile   Bookmark this topic Add BGLI to your friends list Get a Link to this Message
So I am a rather new to collecting but I did collect years ago. A question for the experienced collector. Wondering your thoughts about buying Common date gold double eagles in unc slabbed condition. Thinking slabbed coins give me better assurance they are real and they don't seem to sell at huge premium over spot gold? Thoughts?
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 Posted 10/22/2019  8:17 pm  Show Profile   Bookmark this reply Add pepactonius to your friends list Get a Link to this Reply
Sounds like a good idea, especially if the premiums over spot are low.
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 Posted 10/22/2019  8:21 pm  Show Profile   Bookmark this reply Add thecoinguy1964 to your friends list Get a Link to this Reply
Try attending a local coin show, lots of deals to be had, slabbed & raw. I've attended several shows this year, and picked up some pretty good deals. Dealers need to turn their inventory, JMHO.
"When a strong man, fully armed, guards his house, his possessions are safe."
- Luke 11:21
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 Posted 10/22/2019  8:57 pm  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
the plastic coffin that it's in might be hiding a counterfeit (both slab and coin),
if buying for bullion it's best to get it tested (you can buy an acid test kit for under $10 - but you can't test a slabbed coin)
or buy from a VERY reliable source.
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 Posted 10/22/2019  9:21 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
If you buy a double eagle from a major dealer like APMEX, it is a very safe purchase. Try to get the best price and coin quality.
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United States
12548 Posts
 Posted 10/22/2019  10:02 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Thinking slabbed coins give me better assurance they are real and they don't seem to sell at huge premium over spot gold? Thoughts?


They absolutely do and you are thinking along the right lines to protect yourself the best.


Quote:
the plastic coffin that it's in might be hiding a counterfeit (both slab and coin),


The vaccine you get might also kill you. Nothing is 100 percent but PCGS or NGC graded coins the chances of a fake is minuscule


Quote:
If you buy a double eagle from a major dealer like APMEX, it is a very safe purchase. Try to get the best price and coin quality.


While that is true what happens when you try to resell? Gold is the most fakes and it's only going to keep getting worse. One thing people need to consider with purchases is what happens when its them and not a big name trying to sell.

Graded examples are literally about the same price if not the same price on many of the double eagles are essentially bullion even as MS graded ones. It would be foolish to buy a raw one and not just get a graded one for the same price

Valued Member
United States
171 Posts
 Posted 10/23/2019  09:25 am  Show Profile   Bookmark this reply Add Captain Jack to your friends list Get a Link to this Reply
Check the cert numbers on the front of the label on their respective websites.... also punch them into google and check around google to see if the number is a known counterfeit. As for gold types, you can find cleaned ones a lot, in my opinion, I'd try to at least get MS65 as it would make me feel better.... nothing worse in my mind when its given a details grade. Do not buy raw, ever. And yes, please be aware that the Chinese and probably the Russians are counterfeiting PCGS and NGC cases and coins, you gotta be careful.
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 Posted 10/23/2019  09:38 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
to the Community!


Quote:
The vaccine you get might also kill you. Nothing is 100 percent but PCGS or NGC graded coins the chances of a fake is minuscule
Agreed.
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 Posted 10/23/2019  09:49 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply


to the CCF!
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1993 Posts
 Posted 10/23/2019  11:19 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
I'd stick with slabs, especially on MS coins.

If there's not much premium get early branch mint coins. Pre 1870 S, or any of the O or CC mints. They're not necessarily scarcer, just more interesting as coins than a chunk of bullion.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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United States
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 Posted 10/23/2019  11:51 am  Show Profile   Bookmark this reply Add BGLI to your friends list Get a Link to this Reply
Great info and really helpful. so it sound like slabs are better idea and I will check the PCGS or NGC numbers in database.

AMPEX seems like a trusted source? thanks all
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 Posted 10/23/2019  1:03 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
Nothing is 100 percent but PCGS or NGC graded coins the chances of a fake is minuscule

And if it does turn out to be a fake in a genuine PCGS or NGC slab their guarantee does protect you. (As far as I know they have ALWAYS paid off for a counterfeit discovered in a genuine slab, even in their early days when their guarantee didn't specifically make such a promise.)
Gary Schmidt
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United States
179 Posts
 Posted 10/23/2019  2:11 pm  Show Profile   Bookmark this reply Add fplagge to your friends list Get a Link to this Reply
Welcome, and good luck on you quest for gold!
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 Posted 10/23/2019  6:41 pm  Show Profile   Bookmark this reply Add pepactonius to your friends list Get a Link to this Reply

Quote:
AMPEX seems like a trusted source? thanks all

I've ordered many gold coins from APMEX.

If you buy slabbed gold from eBay, make sure thet the coin matches the photo on the TPG website. This normally means buying only stuff in relatively modern NGC slabs, which are most likely to have a photo. (Most PCGS slabs do not have a photo.) In some cases, you can even match up imperfections in the slab itself.
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 Posted 10/23/2019  6:53 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
In some cases, a seller may use a stock photo, so the photo on the TPG site may match what the seller has posted, but that doesn't necessarily mean that's the coin you're going to get. If the seller gives the certification number in the listing, that's a big plus.

I agree with the consensus that buying slabbed gold is a reasonable way to go for what you're after. Getting a counterfeit this way is unlikely (that's more likely with higher-end coins than type gold), so it may be a good idea to stick with trusted sellers even for slabbed coins until you learn to recognize counterfeit slabs and labels (if not the coins themselves).
Working on: Peace dollars (two to go), US type (early Bust era), Indian quarter eagles, Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
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 Posted 10/23/2019  7:23 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
In some cases, a seller may use a stock photo, so the photo on the TPG site may match what the seller has posted, but that doesn't necessarily mean that's the coin you're going to get.


Big sellers are the ones that overwhelmingly use stock photos for expensive coins like gold.
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