Yea it is a good price. If it were my first gold coin, I would still save up and buy a larger coin.
You can pull a higher grade $5 Liberty Head for right around $400, sometimes even less.
I wish I paid only $220 for either of my $2.50 type coins.
If you like it, you really can't go wrong at that price (assuming of course nobody has started faking ANACS slabs, which I have never heard of myself).