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 Replies: 10 / Views: 2,264 |
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Pillar of the Community
United States
589 Posts |
Hi All.
I am interested in buying US pre-1933 gold coins and would like to know who would you recommend buying these from? Also is there a price range for each type of coin offered and a website to teach me about them more?
thanks
ST
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Pillar of the Community
United States
1499 Posts |
I would strongly recommend that you buy only certified gold coins that have been reviewed by PCGS or NGC. If you are not a gold expert DO NOT buy raw coins. There are old and new counterfeits, and I have heard that some of the new counterfeits from China don't even have gold in them.
Second you need to decide if you want circulated coins that mostly derive their value from their gold content or numismatic quality pieces that have collector value. If you are buying common date, "generic" gold, you should buy coins that grade at least MS-63 or 64. MS-65 and better graded coins are attractive but usually pricey. You also need to be careful of the quality of MS-65 graded coins. Not all experts agree on the grading of them. These coins should be on the "high end" of the grade when you are paying that kind of money.
If you are getting in to rare date or better gold, you will need to do a lot of research. The value and your ability to resell them are tied to collector interest, eye appeal and popularity of the series of which they are a part. Generally collectors prefer large coins to small coins, so that makes $10 and $20 gold pieces more popular that $1 and $2.50 gold coins, but they all have a following.
I have collected U.S. gold coins since the 1960s. I've had a lot of experience, but I would really need to know more about what you would like to do before I can further.
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Pillar of the Community
 United States
589 Posts |
I am actually looking to collect one type of each $1.00, $2.50 and $5.00 gold coin. As far as dates go common dates are fine. My price range is from 100.00 to 300.00 per coin and of course I am looking for XF condition or better. I understand that certified coins are more money but I would like to get a raw samples if possible. Do you recommend a seller for them? Are Provident and APMEX a good source to buy these coins from? Thanks ST |
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Bedrock of the Community
United States
94367 Posts |
If you won't consider TPG coins, then I suggest going to a reputable LCS so you can choose examples that you really like. |
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Pillar of the Community
United States
2023 Posts |
At the current price of gold, there's just over $300 worth of metal in a $5 piece. Add numismatic value and you're instantly going outside your budget in any condition. For what you should expect to pay, I often turn to ebay just to see what other people are paying. The cheapest buy-it-now PCGS $5 is a Liberty head, AU Details, for $375; Indian heads start at $450. http://www.ebay.com/sch/5-Half-Eagl...PCGS&_sop=15Edited by Alpha2814
06/16/2016 5:30 pm
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
United States
711 Posts |
Don't be too afraid of raw US gold. Weigh it, check the size, compare it to other coins in your experience. I did kind of what you did. I collected the 2.50, 5, 10, and 20's, then when I finished that I thought about the dollars to work on the type set, but I like it as is. I really like hoarding the $5 gold coins it turns out. Perfect price point that is comfortable on a paycheck and not too small and not too much premium over melt. I use Provident / APMEX as a price point to start at with my LCS. He is always 10 - 50 bucks cheaper on the $5 pieces. |
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Bedrock of the Community
Australia
21786 Posts |
For the American collector, slabbed coins are the best way to go.
If it is beauty that you are after for your first coin, go for a common date St Gaudens $20.
Just remember that all dates and denominations of American gold coins have been faked; that's why slabbing for your first big ticket numismatic item is a good idea.
And I am not a fan of slabbed coins!
Edited by sel_69l
06/17/2016 12:21 am
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Valued Member
United States
280 Posts |
My neighbor bought a 1908 gold Us quarter eagle from a local pawn shop for $270. He traded it to me for $300 that he owed me for his June rent. I sold it on ebay for $395. Check your local pawn shops, & of course your local coin shops too. ebay has most dates,mint marks, varieties etc. |
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Pillar of the Community
United States
1450 Posts |
I am going to start looking into some of the many pawn shops around here. I remember trying to sell a diamond ring at local pawn shop. The guy only needed a mask and gun to make his offer complete. If you need a really lowball valuation of something for legal reasons take it to the pawn shop. I am talking about divorce or bankruptcy. However, someone's loss can be our gain. I watch "Pawn Stars" on TV and those guys are really thieves IMO. Of course, it is just made for TV. ARcoins you have had many good ideas and are the only guy I have talked to who makes money on short term coins trades. I tend to lose money.
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Valued Member
United States
152 Posts |
I am a collector/buyer/seller of $2 1/2 coins. I have a bunch in stock to choose from, graded and raw. Shoot me a message and I can help you get a nice start to your gold collection.
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Replies: 10 / Views: 2,264 |
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Posted 06/16/2016 4:39 pm
