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 Replies: 43 / Views: 4,420 |
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Valued Member
United States
411 Posts |
Hello and please help me.
I have collected coins off and on for years, silver.
My wife wants a gold coin/bar.
With her budget I'm looking at 1/10 coins, noticed that prices are from $140 to $200 depends on date of coin. I do not understand what the date has to do with a tenth ounce gold coin.
please help me and educate me, LOL.
the only gold I have is scrap gold rings and necklaces.
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Bedrock of the Community
13014 Posts |
The date itself is very meaningful for collecting. Some dates have lower mintages than others so some coins are more rare than others. Older dates are usually a little more expensive anyway since they are no longer made and you cant buy them for mint prices anymore.
If you dont care about any of that and just want the gold the current year will probably have the lowest premium
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Valued Member
 United States
411 Posts |
I'm still lost as I explained this to my wife and she says she don't no if she wants it for value of the gold or the coin.
I want to get her a few but I'm just lost, even looked at bars. I'm just plain lost.
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Moderator
 United States
14463 Posts |
If I ever get in that situation, I already have a plan.  I have a few gold bars for a future wife. Okay, they are only 1 gram, but they are still a gold bar.   |
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Bedrock of the Community
13014 Posts |
Quote:
I'm still lost as I explained this to my wife and she says she don't no if she wants it for value of the gold or the coin. Typical In all seriousness tell her to decide if she wants numismatic products or just the metal itself before making a purchase. Gold certainly isn't cheap right now and thats a hefty chunk of money to put into something she isn't sure about |
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Pillar of the Community
Canada
3692 Posts |
Get her a nice gold ring instead. The simpler the design the less labor goes into it. She can carry it anywhere. If she needed a tow to the nearest gas station she can pawn it real quick and get it back later. (But, the higher the alloy, the softer it is and it'll wear faster. 10K vs 18K)
If not a ring, I'd suggest a 1/10 eagle of any date simply for the weight of the gold. Or a Krugerand.
The main thing is to let her know exactly what the weight is so that she can easily calculate the value based on spot price down the road. 1/10 coins are super easy to calculate.
Edited by Libertad
05/05/2013 5:20 pm
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Pillar of the Community
United States
2589 Posts |
Because market demand for physical gold is so high, the premiums on smaller gold bars and coins are high as well.
Your best bet on getting gold near or at melt would be foriegn gold coins. I know of at least two dealers near me who sell the vast majority of the foreign gold they buy at melt.
Edited by XavierOfGreen
05/05/2013 5:13 pm
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Valued Member
United States
411 Posts |
She has gold rings and a melted gold necklace thingie that weighs in at 1 and a quarter ounce.
for some odd reason she wants a gold coin, I just hope its just one and not one every month.
She has picked up 8 ounce coins for me in the past. She has never showed interest in collecting coins , silver or gold.
I ask her why and she says I just want one. I just want it to be right
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Moderator
United States
14463 Posts |
Two things to consider for quality (or lack of):
- would she want to physically hold the coin at some point
- would she want to carry it with her to show her family/friends/co-workers
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Pillar of the Community
United States
1200 Posts |
Basically, "she wants a gold coin." Period. You mentioned the budget situation is such that she's looking at something in the 1/10oz ballpark.
I think taking her to a local coin dealer or show and letting her see how big a 1/10oz gold Eagle actually is might be a good idea. If she's got a picture of "a
gold coin" that's about the size of a half-dollar in her mind, she's going to be in for a MAJOR shock when she sees the size of a 1/10oz gold Eagle in real life.
Few newbies realize that a gold coin costing $170 is smaller than a dime and that realization comes as a rude awakening to many. It did to me.
You might be doing yourself a big favor by getting her to see what the real-life, in-person sizes of gold coins are like before you buy something. My guess is
she'll be very surprised by how small and how expensive they are and this may impact heavily on her level of desire to have one. As for whether it may kill
the desire or escalate that desire up to the level of a 1oz coin --- ? ? ?
Best of luck with your quandary...
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Pillar of the Community
United States
3789 Posts |
I say-
keep it simple and go with the BEST coin that you can get for 1/10 oz. That coin is the 1/10 oz proof gold american eagle. Limited mintage, beautiful design, very desired worldwide and you can get it directly from the US Mint and cut out dealers. go to usmint.gov This coin line is the most superior gold coin in the world and has the full backing of the United States of America, and ,,, heaven forbid.. but it wont take long to sell it if you need too.
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Valued Member
United States
411 Posts |
I told her that a 1/10 ounce is about the size of a dime, she said its gold, right.
every time I say coin or bar she says , would a coin be better.
she ask about the buffalo, which was nice until I told her the price.
we are not rich or well off but she has close to (a lot ) in jewelry, which we bought back when gold was cheap.
we can buy wholesale, just not coins
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Pillar of the Community
United States
2543 Posts |
Gold Eagle bullion can only be gotten through a dealer. The only gold you can get from the mint are proof coins and uncirculated collector coins and those come at a steep premium. I agree with a 1/10 Eagle being your best bet. Shop dealers, get a common date with a low premium. Don't worry about any numismatic value, she will be mesmerized by the the shiney gold.
I still am after all these years.
Edited by denco7
05/05/2013 7:02 pm
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Pillar of the Community
Canada
4944 Posts |
Quote:
If she's got a picture of "a gold coin" that's about the size of a half-dollar in her mind, she's going to be in for a MAJOR shock when she sees the size of a 1/10oz gold Eagle in real life.
Few newbies realize that a gold coin costing $170 is smaller than a dime and that realization comes as a rude awakening to many. It did to me.
You might be doing yourself a big favor by getting her to see what the real-life, in-person sizes of gold coins are like before you buy something. Very Good Point.  |
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Previously Banned Member
78 Posts |
Why not buy a gold testing kit and start shopping for scrap gold. Even on ebay it can be had for close to spot or under. If you guys like the yard sale seen that's also a great place to score some gold. 1/10 are way overpriced right now, in fact if you ever see the $140 tenth you mentioned let me know because I would buy a 100 at that price thats a steal. |
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Pillar of the Community
Japan
666 Posts |
buy her gold plated something ... until she knows what she wants )))
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Replies: 43 / Views: 4,420 |
Posted 05/05/2013 4:41 pm
