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 Replies: 6 / Views: 1,203 |
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New Member
United States
20 Posts |
I'm about ready to enter the world of gold numismatics. I want a type set fo US gold. I figure I would start with the Liberty $2 1/2, $5 and $10.
My price point would be ok for MS up to 62, maybe 63. I want slabbed for at least some reassurance.
Here are my questions;
Is now a reasonable time to buy? With Gold @ about $1700? Were these coins (as indicated above) significantly cheaper when spot gold was lower?
How much does the spot price affect these coins? (Liberty quarter, half & eagle, MS 60-63)
I'm not looking to flip these or look at them as investments. I just just want the coins "for what they are" but don't want to get beat up on them if I don't have to.
Also looking at a type set of the same denomination of Indians and the Saint $20.
I would purchase them individually over probably the next year or so as finances allow.
All opinions are greatly appreciated.
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Valued Member
United States
168 Posts |
Generic US gold coins were less expensive when the gold spot price was lower, but the gold spot price is what it is and there is nothing we can do about that at this moment. However, the premium associated with generic US gold has actually shrunk with respect to the bullion content, which means that you will pay a smaller percentage over melt for such coins today than if you had purchased them when gold was lower.
Will gold move in price? You bet, but none of us knows precisely how much and when.
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Pillar of the Community
United States
919 Posts |
Check Heritage Auctions for past auction results. In 2001 $20 MS60-62 slabbed gold coins were selling for under $300. The lower grade MS coins track spot with a little premium. You can now purchase many of the MS60-62 slabs for $2000-$2200 and a few hundred more for a CAC certified coin. So people that bought these 11 years ago have done very well (7 times their initial price). Will these hit $14000 in the next ten years, who knows. I have thought about doing the same thing you are. I think I will wait and see if there is any pull back. If I miss the boat I have a lot of silver to hold me over.
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Valued Member
United States
77 Posts |
Typically the 1$ & 3$ are not priced tight to spot even as type coins, but the others are. Of course, that starts falling apart if your doing classic head, no motto coronets, etc.
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Moderator
 United States
23522 Posts |
I'm not an expert, so I'm only posting to offer one opinion: that was a *great* post, Tom B.
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Bedrock of the Community
United States
10982 Posts |
If you buy now you are buying at a high gold price but as noted above, the premium over melt should be very low.
For common dates in MS62, the $5 and $10 pieces should be no more than 10% over melt value in top tier slabs (PCGS, NGC, ANACS). Smaller denominations do carry higher premiums and this would apply to the $1, $2.50, & $3 pieces.
Is it a good time to buy? Hard to say. I can't imagine gold ever going below $1,000 USD again and when it was at $1,000 the premiums were much higher. I'd go for it and be sure to get the best MS62 certified pieces I could find.
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Pillar of the Community
United States
1704 Posts |
The premium over spot is determined by demand. When the demand is high the premium over spot increases and decreases when the demand weakens. Ed ANA LM-3175 |
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Replies: 6 / Views: 1,203 |
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Posted 12/09/2012 8:02 pm
