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Advice On Gold Coin Purchase

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thq's Avatar
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3343 Posts
 Posted 10/26/2019  11:56 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Correction. Carson City made their own planchets. The attached article describes planchet weight adjustment and recovery of the metal dust.

It's interesting that 90% of the bullion went to San Francisco though. Carson City was treated shabbily by everyone.

https://www.nevadamagazine.com/issu...t-2018/7303/
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/26/2019 12:00 pm
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JacksinPA's Avatar
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 Posted 10/27/2019  12:28 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
Interesting article. Re my 1890-CC-1893-CC coins: 'Several years of production saw anemically low mintage totals, including 1870's 5,908 pieces, 1872's 5,500 pieces (some sources report 4,600), 1873's 4,543 pieces, 1876's 4,696 pieces, 1877's 3,332 pieces, 1878's 3,244 pieces, and 1879's stunted output of 1,762 pieces.

Just like in the half eagle series, 1891 saw the highest production of gold eagles at the Carson City Mint, with its 103,732 coins.

Again, according to Rusty Goe, survival totals are small for "CC" gold eagles. He estimates that no more than 3.22% of the original mintage total survives today, with the percentage probably under the 3.2% mark. This translates into a surviving population of no more than 9,655 pieces spanning 19 dates in the eagle series, with the actual total probably less. The 1891-CC date, according to Goe, accounts for as much as 46% of the entire population of "CC" gold eagles, which reveals just how rare most of the other dates are in this series.'
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 Posted 10/27/2019  3:37 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Over the last 20 years, I've bought well circulated cc's and early S mint coins when they were available at reasonable prices. Here's an example:
https://www.ebay.com/itm/1874-CC-Li...AOSw065da0ft
Coins that used to sell at less than 2x melt now sell at 4x melt.

The scarcest eagle I have is an 1884-cc, and I've NEVER seen a raw pre 1880 cc eagle. They've all become hard to find, as even the shabby ones are being slabbed and marked way up. Here are a couple half eagle cc's.

Advice-On-Gold-Coin-Purchase

That V&T freight bill is much rarer than the coins....and cost $15....
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/27/2019 4:59 pm
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 Posted 10/28/2019  12:27 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
This ca 1859 high grade ore sample from the Ophir mine shows what they were mining in the Comstock.

http://www.marshallmint.com/index.p...oduct_id=268

A mix of crumbly blue argentite, quartz and gold flakes. A pretty spendy little rock...I prefer coins....
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/28/2019 12:32 pm
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 Posted 10/29/2019  12:18 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
At this point I'm rambling a bit, but oh well.....it involves a LOT of Morgan dollars....

From looking at old maps, the Comstock Lode was located approximately under F Street (3 blocks down the hill from the main street) and ran for a couple miles towards Gold Hill. The mines strung out in a line on top of it. The point of the big Ophir discovery is at the north end, approximately where there is now a public swimming pool.

The mines were crammed together, literally a city block apart. The Big Bonanza of 1873 was discovered 1100 feet underground about 2 blocks from the Ophir.

https://upload.wikimedia.org/wikipe..._drawing.jpg
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/29/2019 1:38 pm
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JacksinPA's Avatar
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 Posted 10/29/2019  3:46 pm  Show Profile   Bookmark this reply Add JacksinPA to your friends list Get a Link to this Reply
I received an MS64 1906 $2.50 which I sold to Coast & Coins for $400 ($75 less that I paid for it). In return I picked up an 1856-S $10 VF35 for $725 net. The SF mint started up in 1854 so I'm attracted to early SF coinage. I think I got a good deal. Should have it by Friday when I've scheduled my next visit to the safety deposit box.

They will quote on coins even in flips or 2x2s so I'm looking to do a physical inventory & send them the ones (Philadelphia) that I didn't sell earlier this year on ebay.
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 Posted 11/05/2019  11:49 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Because the price of gold is high, this is a pretty good time to find collectible gold coins. The prices aren't outstanding but the selection is good because people are cashing in, and this abundance is compressing semi-scarce dates close to bullion prices. Pre 1870 San Francisco double eagles and late mint New Orleans eagles are two groups in particular.

There's a question whether the market will ever absorb all these coins. One ebay dealer is sitting on five MS60 1892-O eagles plus a few AU's. They're not pretty, but they're priced well below PCGS list. Another dealer has been sitting on at least twenty 1890 AU50 eagles for months.

"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
11/05/2019 11:57 am
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