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 Replies: 12 / Views: 5,135 |
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Valued Member
United States
245 Posts |
I've searched around but for price and selection / reliability I've been considering buying from APMEX. Thanks to a recommendation in another thread, I've decided to do a gold-type collection for US coins, Starting with 20th century. What I am trying to decide: AU grab-bag vs MS-61 PCGS Certified vs NGC Certified (depending on coin it is either a small premium or a larger premium) or Do 2 sets, one of AU for gold value, and one of MS-61 for numismatic / gold value. Do not plan on selling these, but passing them down, however would want to be able to in my retirement years (30-40 years away) if needed. Budget for this whole "project" is currently < 30k and want to spend wisely. Realized I couldnt do complete collections due to rarity in some of the gold years Thanks! |
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Bedrock of the Community
United States
10982 Posts |
Nothing at all wrong with buying from APMEX but I'd stick with bullion. MS61 common date gold pieces aren't considered numismatic by most people but you will pay some premium to buy gold certified as such. If buying pre-33 U.S. gold right now and NOT focusing on better dates, then consider buying a mix of eagles and double eagles as close to melt as possible. Don't worry if they're AU or MS, just find certified pieces (PCGS, NGC, ANACS) that are problem-free and near melt price. That's my 2 cents worth. YMMV. |
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Pillar of the Community
United States
711 Posts |
Depending on your experience level and any local coin friends or very trust worthy dealers in your area, I would start out with a circulated type set and buy them raw. Capital Plastics makes a nice holder for a basic US gold circulating type set.
As long as you are confident you aren't buying a fake, I like the raw coins.
Don't get me wrong, I like the slabs too. Heck, it would be a fantasy retired job to grade coins for a living. I just feel that I earn it / appreciate it more as I start out by trying to cherry pick out the best raw coins I can.
Makes it fun when you buy your first certified coin and then get to compare your raw coin(s) to your slabbed point of reference.
Your first purchase will be your worst purchase likely, make it a cheap lesson.
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Valued Member
 United States
245 Posts |
I did consider buying raw and trying to hone my ability to judge coins, etc... but then I read so many threads on this forum about fakes, and tried to identify fakes even within one type of coin seems beyond me still... When dealing with gold I really dont want to make a mistake on .5 or 1oz that takes me years or decades to break even on with the rest of my purchases. Any other sites similar to APMEX that has that much of a selection? Thanks! |
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Bedrock of the Community
United States
10982 Posts |
If this link is allowed you'll find several gold dealers compared here: http://www.goldprice.com/dealersYou can always search auctions like: ebay, Great Collections, Heritage, etc. I definitely buy certified if you have no experience handling raw gold. |
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Pillar of the Community
United States
4691 Posts |
I would definitely NOT buy raw pre-1933 coins. There is little/no premium buying them certified, so it's a no-brainer. NGC and PCGS are considered the top two TPGs and I would stay away from all the others. AU-58 coins often are more aesthetically pleasing than MS-61 coins and for a lesser price.
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Pillar of the Community
United States
4211 Posts |
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Valued Member
United States
245 Posts |
Yup, that is exactly the set I am planning on building.
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Pillar of the Community
United States
1748 Posts |
If you buy pre-1933 US gold coins, do not buy them unless they are in PCGS or NGC holders. There were many contemporary counterfeits. AU-58 PCGS holdered, common date, pre-1933 US gold coins are probably the best bet for someone not familiar with the very subtle numismatics of pre-1933 US gold. But even with the AU-58's, remember to buy for the coin's appearance and patina. Copper spots, for instance, were a common problem in US gold coin...especially 1920's double eagles. You can get better deals on them with dealers other than APMEX as well. Shop around. Edited by DoubleEagle20
12/07/2014 03:21 am
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Pillar of the Community
United States
593 Posts |
I am also looking at APMEX to fill my 7070 gold page. (I go directly to their web site, not the link to ebay this site automatically puts on the acronym). I purchased my first gold coin recently. I really like the idea of getting gold from a more reliable source and the fact that cleaned coins are available for a discount. My budget is only $5K, so my plan is to buy dollars for $200 each when gold is below $1900; quarter eagles for $270 when gold is below $1500; half eagles for $350 (Liberty) and $375 (Indian) when gold is below $1200; eagles for $600 when gold is below $1100; and double eagles for $1050 (Liberty) and $1075 (St. Gaudens) when gold is below $1000. APMEX offers free shipping for any order over $99, so I can buy them one coin at a time. I have to mail a check and wait a while to get the coin, but the price is hard to beat. If I follow my strategy, I can fill in my 7070 Gold page for $4990. I got the first coin, a cleaned Liberty Half Eagle, for $347 when gold dipped under $1200 at Christmas. So far I'm $3 under budget! I know many will contend that gold won't drop to $1100, much less $1000, but that's what I'm waiting for. If it doesn't happen, there will be 4 empty spaces in my 7070. Edited by larsdog
02/13/2015 8:22 pm
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Pillar of the Community
United States
5825 Posts |
With $30K over time you can buy into a nice investment, just take your time in building it. You can build a slab set just like it in the dansco gold page.
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Valued Member
United States
301 Posts |
I personally like to pick out raw coins, then certify myself. It just beings me extra satisfaction when I buy a raw coin, submit it myself, and end up with a certified coin that I have only 1/2 its value into. But, gold is tricky, and ive personally been burned 4 times last year with coins coming back "cleaned" or the dreaded "ex jewelry". Take your time, and only buy when it feels right. Good luck on the set!
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Valued Member
United States
293 Posts |
If you do not have a good knowledge of what pre-33 gold should be (fakes vs. genuine and cleaned vs. original) the best way to buy it is from a local dealer or a small market coin show (a city too small to have it's own TV station). The best value is PCGS or NGC coins graded AU-58. They have such a great eye appeal and when you send off pre-33 gold to the big 2 for a grade often it is a tossup as to if it gets AU-58 or MS-62. I personally avoid MS-61 and MS-62 on generally any coin. I'd rather have an AU-58 or MS-63 due to eye appeal. A "grab bag" of AU gold might be nice for the grade and it could be very baggy. I would never buy a gold coin like that sign unseen from anybody especially raw and especially from a large bullion dealer like APMEX. If it was a really nice AU coin that was a better date they would have listed it as such. Your local dealer will probably give you a much better price on something you can actually see. In addition if he or she specializes in any of the pre-33 gold you have a valuable party who will be willing to work on your want list in the future. |
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Replies: 12 / Views: 5,135 |
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Posted 12/06/2014 5:35 pm
