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 Replies: 29 / Views: 4,586 |
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Pillar of the Community
United States
521 Posts |
I'd like to buy a gold coin. This would be my first one. Honestly, I am intimidated by the prospect of purchasing a raw one. So, I think I'll go with a slabbed one.
What are your recommendations on type and date? I'm thinking low, around $500 but could go to $1,000. I am considering an Indian Head 1/2 Eagle.
Also, if you have any recommendations on how to approach this, I would appreciate it.
Just to give you some context, I have never spent over $80 on a coin. And usually it's much, much less. Anyway, all ideas are welcome. Thanks
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Pillar of the Community
United States
1903 Posts |
well...you are taking the first and most important step....knowledge. Don't rush out to get your coin after just a few responses. Learn about the different types, find one that inspires you somehow, follow ebay sales to see where prices trend, go to local coin shops and see some in person. Knowledge is king. The more you know the more likely you are to find a great deal and avoid a bad one. |
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Pillar of the Community
3772 Posts |
Sorry to distract from US coins, but if your primary goal is to have a gold coin which is your own, then I would recommend to buy one which is close to bullion. There are quite a few around, eg British sovereigns. Maybe that would be a good step to take away your jitters. When it comes to gold coins which ask for a substantial numismatic premium, 'unholyroller' has given excellent advice - inform yourself and do not rush it. |
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Pillar of the Community
Canada
3049 Posts |
Medieval ...most times I would say bullion is a great way to go for the first few gold coins.. But given the current state of gold... I would be looking at gold pieces that are less connected to spot price and more connected with supply/demand and numi values.
Given the OP wants something graded he doesn't have much to worry abouts with respect to authenticity. But since the OP hasn't spent much more than $80 on a coin before, it could be quite gut wrenching to buy a 1/4 ozt for around $400 only to watch the price of gold drop another 15%
Just my opinion... But I honestly think you shouldn't rush the decision, but give a good amount of res,each into it.
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Pillar of the Community
United States
567 Posts |
I would go with an Indian Quarter Eagle, small, relatively inexpensive, and an attractive design.
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Bedrock of the Community
Australia
21786 Posts |
If you are a collector of U.S. classic coins,  with Arael, and for the reasons given. Go for an MS grade if you can. |
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Valued Member
United States
300 Posts |
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Moderator
 United States
56855 Posts |
I have always liked $1 & $3 U.S. gold coins. John1  |
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Pillar of the Community
United States
5825 Posts |
I strongly recommend getting a common date slabbed MS-63 or higher.
That will help the coin hold its value over time.
And that means a face of $2½ or less.
Find a design that appeals to your eye although with my recommendation and your budget you won't have a wide choice.
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Pillar of the Community
United States
919 Posts |
I agree with kanga. I too am starting to look at pre33 gold. I am watching for gold to move lower yet and then I will buy. I have been seeing common $10 graded Indians going for just over $700 and $5 Indians have come down too. Good luck, there are many great designs in gold.
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Pillar of the Community
United States
6370 Posts |
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Valued Member
United States
301 Posts |
Like everyone said, knowledge and patience is key. With gold, I agree raw is probably not the best first buy. Something to consider is the grade you are hoping for. I would recommend a Gold Dollar, maybe in the 1850s, you can get MS without breaking the bank. I picked up an MS62 1851 for $300 at a show...the other would be a quarter eagle. You can get a few common date libertys for decent prices. Again, I got a 1873 MS60 for $325. But I take my time, slowly look over alot of options, ans sometimes go off the beaten trail. The $1 gold I found at a pawn shop so you never know where a deal will present itself. But have a way to look up certs and verify. Hope this helps! Good luck and you will have to tell us what you pick!!
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Pillar of the Community
United States
711 Posts |
I'd get an old Liberty Head $5 gold piece. Here is a chart I use to evaluate premiums on 90% / 40% silver and pre 1933 gold if it helps. https://docs.google.com/spreadsheet...?usp=sharingNote I don't include the $2.50 gold pieces as the premium is generally much higher on them than what I want to pay. I also don't include the $20 gold piece as it doesn't fit my monthly coin budget. . . . As for browsing gold, here is the best collection of gold coin images I know of. Enjoy. https://www.flickr.com/photos/raregoldcoins/Maybe something will jump out that you like from browsing these images. Edited by BuckeyeCoinGuy
12/06/2014 11:32 am
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Pillar of the Community
United States
919 Posts |
Nice chart Buckeye. I am waiting for the sub $600 price range on $10 gold.
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Pillar of the Community
United States
711 Posts |
Thanks.
About 2 weeks ago my LCS had $10 gold pieces at $625. Getting close to $600.
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Pillar of the Community
United States
1002 Posts |
I like your original conviction. You can find a nice certified 5$ Indian under $500 or a common 10$ Liberty/Indian head PCGS MS63 for $1000 or less. I have made recent purchases in this range, just be patient. It's hard for me to get into gold coins under 5$, they are just so tiny that it is hard for me to enjoy them. Some folks love 'em though, just sayin'.. Again, be patient, get the nicest certified pre-1933 coin you can afford. Here is a good place to start: http://www.greatcollections.com/Den...-Half-Eagleshttp://www.greatcollections.com/Den.../Gold-Eagles |
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Replies: 29 / Views: 4,586 |
Posted 12/06/2014 01:01 am
