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 Replies: 18 / Views: 3,560 |
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Valued Member
United States
55 Posts |
I am looking into buying my first gold coin - a $5 Gold Half Eagle Indian Head. I always have loved this design and it's one of my favorite coins, and I am starting to look into owning one. I have some questions if anyone has insight as I continue researching. 1. I'm looking for a slabbed coin (to prove authenticity) - I understand its a higher premium, but seems a better solution for me? 2. Is there any place online that is a good/reliable resource, should I consult auctions, ebay, or try to work with local gold/coin vendor to acquire? 3. Is this a good time as silver/gold prices are on the rise with the continued pandemic effect or should I try and wait and hope there is a dip? 4. Any other suggestions you all would have for me? Thanks! |
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Pillar of the Community
United States
4691 Posts |
Depends on what grade you want. I would buy from a reputable gold dealer such as bullionexchanges, provident metals, APMEX to name a few. You will probably pay too much on ebay. |
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Bedrock of the Community
United States
94367 Posts |
 If you're just looking for a generic example, then @jimbucks' suggestions are good ones. Personally, I'd do a little research on pricing in the grade you want and then try to find a nice one in person at your LCS. Edited by Coinfrog
06/01/2021 11:16 am
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Moderator
 United States
56855 Posts |
Are you looking for a collectable coin or a bullion coin? How much are you going to spend? John1  |
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Pillar of the Community
United States
6505 Posts |
Quote:
How much are you going to spend? Thats the big question |
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Pillar of the Community
United States
2830 Posts |
I would suggest visiting your local/reputable coin dealer/s & compare their pricing to online prices, as other have suggested, APMEX, etc. From a market perspective, looking at the gold tracking stock aka $GLD, the RSI (relative strength indicator) is currently nearing 80, which is indicative of being overvalued. A $GLD price retracement to a 50 RSI, will ultimately end up saving you some money on your purchase. I've added a current chart of the $GLD, so check it out in the link below. https://bigcharts.marketwatch.com/a...lse&state=10Edited by coin rejector
06/01/2021 3:59 pm
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Pillar of the Community
United States
4468 Posts |
I agree you should buy a gold coin in a TPG holder, but you still should learn how to grade the $5 Indian Head before making your purchase. |
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Bedrock of the Community
United States
94367 Posts |
Could not agree more!  |
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Bedrock of the Community
Australia
21786 Posts |
Arguably the most difficult to grade of classic American coins, due to the innovative BLP design. I just love them; a brilliant design  Due to the difficulty to grade accurately, it is essential that you learn as much as you can about the grading of the BLP design before considering to buy an example. Take lots of time, and very closely examine the Photograde examples for your own education. That is OK, they are commonly available, so hasten slowly |
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Pillar of the Community
United States
4691 Posts |
The OP wants to buy the coin, not an expert in grading the series! I don't need to know details on how my digestive system works before I eat my lunch.
Edited by jimbucks
06/01/2021 7:08 pm
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Pillar of the Community
United States
6381 Posts |
I'd suggest you inspect some examples of $5 Indians to get familiar with the appearance in different grades. The Heritage website offers free viewing of coins from their auctions and is an excellent resource.
If you just want one example the date isn't important but I would avoid the 1909-D, just because it's the most common issue. Other less-common dates should be available at comparable prices.
Good luck! If you get your coin please post some photos!
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Pillar of the Community
United States
4691 Posts |
Edited by jimbucks
06/01/2021 7:36 pm
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Pillar of the Community
United States
5820 Posts |
Good luck in buying that first $5 gold piece, post it back here once you get it.
All analysis is pointing gold and silver prices should continue to climb, but anything can happen!
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Pillar of the Community
United States
600 Posts |
Quote:
All analysis is pointing gold and silver prices should continue to climb Of course there has never been a time when the gold analysts didn't say gold was going up. |
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Valued Member
 United States
55 Posts |
Thanks all for your thoughts.
I'm looking for at least MS61, but should I consider spending more for MS62 or even 63? I know my budget is the main factor, but am asking more about the best approach to a collectible coin.
For me, I think I am fine with a lower grade as long as I like the look of the coin.
Thanks again all, I'll keep you updated on my quest!
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Pillar of the Community
 United States
5661 Posts |
Sometimes an AU-58 with minimal wear can be more attractive and desirable than a low MS coin, and I think that's especially true with gold Indians. You should look at many examples before making a decision.
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Replies: 18 / Views: 3,560 |
Posted 06/01/2021 10:52 am
