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 Replies: 14 / Views: 1,471 |
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Valued Member
United States
459 Posts |
So I made a trip to the LCS yesterday and looked at a few $2.5 gold coins..
My LCS is relatively small (small sized county) and he had 3 pieces I was interested in and told me a price on all of them..
The first is a slabbed NGC XF-45 2.5 dollar Indian, can't remember the year and he told me $270 for that one.
Next, a raw UNC 1928 Indian and he said $330 for this one
Finally, an 1861 in at least AU for $280.
I think I may end up purchasing the 1861 because I really like that design, but wanted opinions on if these are decent prices etc, (I will post pics when I make a final decision)
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Pillar of the Community
United States
5825 Posts |
Are you willing to spend $280 on a coin if you're not sure it's:
-- authentic
-- original
-- the grade you think it is
Also if it's a common date gold spot will affect its current value.
And gold took a BIG tumble the other day.
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Valued Member
 United States
459 Posts |
I don't doubt it is authentic and original, I have a very good relationship with the owner and being a YN, he also looks out for me. Example: When he handed me the few gold coins and I looked through them and set them down, he picked up a half eagle and said "I'm not selling you this one, it's scratched." I had already noticed the two small scratches across the coin and ruled it out. The guy is really honest with me, and I respect him for that. I have been a loyal customer for a few years now.
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Pillar of the Community
United States
3343 Posts |
I recommend getting as much gold as you can for your money, and quarter eagles are relatively overpriced in that regard. I was quoted $335 on raw 1910 & 1914 XF $5 Indians in a local shop yesterday. That said, buy the coin you like the most. The no-motto 1861 is an interesting coin, with both Civil War and Gold Rush connections.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
1414 Posts |
I personally would never buy unslabbed gold but then again I totally got away from raw coins period.
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Pillar of the Community
United States
4469 Posts |
If this was my first purchase of a raw gold coin, I would send it in for grading. I am sure that your LCS will guarantee that the coin is authentic if not, I would look for a slab coin.
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Bedrock of the Community
United States
17884 Posts |
Quote:
If this was my first purchase of a raw gold coin, I would send it in for grading. The problem with that is that most common raw US gold is priced (and worth) just a marginal amount over bullion. If you pay that and then pay for slabbing you now have too much into the coin and you need a rise in spot price just so you will be able to break even. Whereas that same rise in spot price would result in a profit on the raw coin. So basically if you buy common US gold raw leave it raw, if you are worried about authenticity either learn more about what you are buying or buy slabbed. |
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Valued Member
United States
459 Posts |
thq I see what you're saying about the most gold for the money, however, I think the lower grade, larger coins may be tied closely to the spot value of gold. Where with the AU-UNC Quarter eagles, there is more numismatic value. I think I may purchase the raw 1861 and leave it raw. I like the history behind the coin. I don't really plan to sell my collection, and so I have no problem with worrying about if I could resell it for a profit.
Thank you all for the comments!
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Rest in Peace
United States
17900 Posts |
It sounds like you've made your decision, and a good one, I believe. Having a gold coin of U.S. mintage that's over 150 years old in itself adds enjoyment value, if not dollar value.
Plus, as has been mentioned, it was produced just a few years prior to the Civil War and who knows where it was during that turbulent period.
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Bedrock of the Community
United States
94367 Posts |
If you do buy the 1861, show us some pics!
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Pillar of the Community
United States
589 Posts |
Quote:
Finally, an 1861 in at least AU for $280.
I think I may end up purchasing the 1861 because I really like that design, but wanted opinions on if these are decent prices etc, (I will post pics when I make a final decision) 1861 has two types: Type 1 using the old hub(larger letters and arrows)the scares variety. Type 2 reverse is very common even for an early date gold. As for the price, it is $30 to $40 higher than ebay price but it is a fair price for LCS. I purchase almost all my coin related items on the internet, but once or twice a month I will make a small buy at my LCS. |
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Pillar of the Community
861 Posts |
How about $231 for a nice rare certified $3 Gold Princess on ebay: http://www.ebay.com/itm/1855-3-US-G...19018104?ru=http://www.ebay.com/sch/m.html%3F_ssn=wholesalecoins99&_armrs=1&_ipg=25&_from=R40&_sacat=0&_nkw=141719018104&_rdc=1&nma=true&si=erDsFB%252FZhP4eIEjKEFtEFkjBPX4%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557 |
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Pillar of the Community
United States
2543 Posts |
Quote:As for the price, it is $30 to $40 higher than ebay price but it is a fair price for LCS. I purchase almost all my coin related items on the internet, As do many .... many people. Myself, when I am buying classic coins, where condition has everything to do with price, I go with the LCS or live auction every time. Could never see how someone could spend big dollars on a classic coin without holding it in your hand, inspecting every scratch or "cleaning" lines. Raw bullion coins, you pretty much know what you are going to get, a scuff here and there is not going to affect the value. No way you can judge a classic coin from an ebay photo. The TPG's have got to love ebay. " don't buy raw"... "always buy expensive classic coins in a slab". NGC and PCGS have got to be investing in ebay, hoping the bargain hunters last a long ... long time. I would totally pay a small premium for a coin in hand when buying raw gold coins. |
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Valued Member
United States
234 Posts |
Don't buy a coin that's heavily weighted on gold price. As gold will probably go down when the interest rates go back up. I would buy slabbed NGC picture graded coins with some collectors premium based on rarity. And by the way ebay in totality is kinda over priced and I try and shop it as agressivly as I can. Example I just bought a few weeks ago a 1909D MS 62 for at buy it now $650. I guess it was an ok price. I've seen two auctions where there going for $700. However there is a guy selling one as of a couple of days ago for $600. I'm getting ready to buy my next gold coin off of heritage auctions as they seem to be cheaper. |
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Valued Member
United States
68 Posts |
$3 GOLD is a good choice! Never owned one of those and they are neat!
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Replies: 14 / Views: 1,471 |
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Posted 07/30/2015 12:07 pm
