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 Replies: 32 / Views: 4,201 |
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Pillar of the Community
United States
8137 Posts |
I've finally saved up enough money to buy a gold coin, but I just don't know which one I should get. I know I want a graded US gold piece, but either than that, I haven't given the idea much thought. I have about $300 that I can spend on this, and I would like to get a gold piece, and another high value non-gold coin for one of my albums if I can. With my kind of budget, what gold coin would you recommend? Edited by CoinCollector2012
02/21/2016 8:35 pm
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Pillar of the Community
United States
711 Posts |
Graded US gold will be tough. As for the old circulating pieces with a budget of $300 you are looking at either a gold dollar or a gold $2.50 piece. The melt value alone for a $5 piece is basically $300 so no chance of getting a coin like that in a slab at $300. You might be able to get one at say $375 or so though if you want to wait. You could get a modern 1/10th ounce gold coin probably in a slab. I have never researched them slabbed but the melt value is only $120 basically so I wouldn't think it would be too difficult. If you aren't stuck on US coinage, the Mexican 2 and 2.5 peso coins melt for $60 and $75 respectively. Not sure how many of these are slabbed. I only ever see them raw. You might be able to get a French Rooster or Angel or a Swiss Helvetica. They melt for basically $230 now. The British Gold Sovereigns melt for basically $280 now so that is a possibility too. My best advice if you want a slabbed gold coin, save up a budget of say $400 and find a nice $5 Liberty Head Half Eagle. If you want a slab that is your most bang for your buck gold wise. |
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Bedrock of the Community
Australia
21786 Posts |
Get a slabbed 1/4 Eagle from a reputable dealer.
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Pillar of the Community
 United States
5828 Posts |
Get a AU-MS stabbed $2.50 gold piece. Go to a dealer in person before searching ebay. Just guessing since I've never been fortunes enough to own a good piece. |
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Pillar of the Community
United States
1188 Posts |
I'd save up a bit more to allow for a certified piece (stick with PCGS or NGC). Good luck!
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Valued Member
United States
152 Posts |
I mainly collect/buy/sell $2 1/2 gold. You MIGHT be able to pick up a MS60 or 61 common date for at or a little over $300 on ebay, but you need a little patience. I might have a few in the $350 range. |
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Valued Member
United States
470 Posts |
For your first gold coin, don't buy slabbed modern bullion. The premium on 1/10 ounce coins is obnoxious and it only adds insult to injury and buy one in a slab, is simply wasting your hard earned money. Look for pre-civil war gold. Most likely a nice dollar coin like this one: http://www.ebay.com/itm/1854-Type-1...AOSwx-9Ww5kaPersonally, I'd keep saving for a while longer and once you save about $400, you have more date/grade options available to you. http://www.ebay.com/itm/1851-1-One-...AOSwoydWl8XGBest of luck. Edited by Andrew289
02/22/2016 10:52 am
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Pillar of the Community
United States
1450 Posts |
The bigger the coin the better the deal IMO. There are some common $20 gold pieces you can get either Liberty Head or even Saint $20 for not much over spot price. The small gold coins end up costing you more for the gold in them. I see gold coins selling for just about their melt price in more than one denomination. Even some rare ones in VF condition selling for low relatively low prices. I have no idea where gold price is going but it makes all the difference. Now is a good time to be a buyer and bad time to be seller.
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Pillar of the Community
United States
3343 Posts |
The first gold coin I got was a $5 Indian, in a pawn shop back in the late 60's. That one is long gone, and other better ones have replaced it. For the $300 you have I'd suggest the same thing. Skip the slabs for now, and make sure you're dealing with someone who isn't shady. See if you like it in your hand and in your pocket. APMEX has cleaned Indian quarter eagles for under $300. And I recently got this one on the bay for under $200:  It's ex-jewelry shabby, but it's a pocket coin flipper. And it was made in San Francisco in 1867. It didn't spend its life in a collector's cabinet, but in people's pockets and stores being used as money. As it was intended. Later on, after being worn down to 90% of its mint weight, it was put in a bezel and used as jewelry. It's a real coin with a real history. Not some curio in a plastic box. If I wanted to get this coin a pedigree, I believe it would make G4 details. NGC has graded 163 of these, none below F12, so it's a conditional rarity. Gold coins this worn were withdrawn from circulation and melted. It's a rare testament to the miners and merchants and bars that handled it for maybe 50 years in circulation. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
02/22/2016 11:56 am
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Pillar of the Community
United States
2843 Posts |
 Skip the slabbing. It knocks you out of range of most coins. A gold $2.50 Indian would be right in your price range and is a beautiful coin. (I actually have a 1912 one listed on ebay right now, but I am not going to promote myself, go with what you find.) With a little luck you may find one at a store that advertises that they buy gold. They may sell it for closer to melt. Edited by BigSilver
02/22/2016 11:53 am
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Rest in Peace
United States
17900 Posts |
In the case of the budget you are trying to stay in, about the only gold you could get certified by NGC or PCGS would, as has been stated, a quarter eagle or a dollar.
If you can save another $50-$75 you will be in range for a half eagle if you can stand a lower grade below AU-50, or so.
For your first gold coin I would recommend a half eagle simply because the smaller denominations just do not have the impact of a chunk of gold about the size of a nickel.
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Bedrock of the Community
United States
20753 Posts |
You have to be careful buying any coin worth over a few hundred no slabbed. This is why you see so many slabbed coins today. Counterfeits are everywhere. Buying a raw Gold coin could have you ending up with a piece of Lead.
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Pillar of the Community
 United States
8137 Posts |
Thanks for the responses so far everyone!
I don't want a gold dollar because they are way too small. I'm leaning in the direction of a Liberty Quarter eagle right now, but I haven't completely made up my mind yet.
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Pillar of the Community
Canada
4944 Posts |
If you wait for an auction listing on ebay you should be able to pick up a PCGS or NGC graded $2.50 indian for $280-$300 in AU. That would be my choice, given the budget constraint. |
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Pillar of the Community
United States
589 Posts |
Quote:
I've finally saved up enough money to buy a gold coin, but I just don't know which one I should get. I know I want a graded US gold piece, but either than that, I haven't given the idea much thought. I have about $300 that I can spend on this, and I would like to get a gold piece, and another high value non-gold coin for one of my albums if I can. With my kind of budget, what gold coin would you recommend? I have been buying gold coins for the past two years and for the best bargain, auction house has always had the best results. One interesting thing to note: As the spot price on gold (from almost $1,400 to under $1,100 and back to $1,200) I didn't notice the difference in price in the quarter eagles. In Modern gold coins, larger common gold coins and common World gold coins, the price moved with the gold spot prices. One last thing, I have purchased all my graded(AU-53 to AU-58) Quarter eagles for under $300. |
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Pillar of the Community
United States
8137 Posts |
Johntookit, Where do you purchase your Quarter Eagles?
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Replies: 32 / Views: 4,201 |
Posted 02/21/2016 8:48 pm
