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 Replies: 14 / Views: 1,296 |
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Rest in Peace
United States
5375 Posts |
Any tips from veterans on buying gold coins in general? I just bought my first gold coin off ebay today (slabbed). Like, how to detect cleaning (besides the very obvious ones) and such? I'm sure it's a bit different than for silver. I'm mostly into smaller gold coins, people are paying crazy amounts for common date $10's and $20's, so I'm not really into those. Eventually I'll have to get a rarer date saint gaudens for my gold type page, once I have that, though. |
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Bedrock of the Community
United States
10982 Posts |
When you say "smaller" are you referring to quarter and half eagles only? What price range are you shopping in? Indian Head 1/4 & 1/2 Eagles are pretty pricey and often counterfeit but still made of gold. Do you want to buy only slabbed coins? What grades appeal to you? (some of the better deals are AU)
I'd suggest purchasing some gold coin related books from reputable authors and read up. This is a lucrative market and with the price of gold approaching $1,000/oz again, it's easy to lose a bunch of money on a single purchase.
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Pillar of the Community
United States
3098 Posts |
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it's easy to lose a bunch of money on a single purchase  I thought the best way to buy gold was to pay the least premium for it! Also, I think gold has a ways to go before hitting $1200 (my thought for the high this year) and a long fall to $750 (my thought for the low) |
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Pillar of the Community
United States
2373 Posts |
When the Dow vrs Gold ratio nears 5, I'll be nilly willy nervous and lighten up. And I agree with wd1040 about a retracement but haven't checked the charts for a guess yet.
My gut tells me to look for a 6000 or thereabouts Dow and 1200 Gold, but what do I know. I wasn't smart enough to sell last time it went over a thousand but the Dow ratio led me to hold. Oh well......nlp
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Valued Member
United States
405 Posts |
Agree with wd1040....buy cheap
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Rest in Peace
 United States
5375 Posts |
Quarter eagles and gold dollars...maybe some $3 coins and half eagles, but mostly the first two. That is, because they have lower gold content, and more numismatic value.
I'm not really buying for the gold content.
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Pillar of the Community
United States
3098 Posts |
I like quarter eagles, especially the incuse Indian Head ones  |
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Pillar of the Community
United States
1083 Posts |
With a couple of exceptions I have bought all my gold coins for my 7070 page, slabbed from Harlan J Beck. I am like you shadow, I bought the smaller ones first. I lack the Indian Eagle, and the Saint. I will inherit the double eagle Liberty from my uncle one day in the future. Having not as much knowledge about gold I went with slabbed. Signs of cleaning are pretty much the same as for silver, but wear is more difficult for me to see in gold.
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Bedrock of the Community
United States
10982 Posts |
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Quarter eagles and gold dollars...maybe some $3 coins and half eagles, but mostly the first two. I'd stick with major TPG coins. I don't own any gold dollars but if they weren't in a slab, I'd probably lose them! Since you're going for numismatic purchases only, the spot price of gold will not be a big factor to you. This could be a good time to buy because that side of the market is in a down turn. Please post some pics of a gold dollar. They're great to see and don't forget a Stella. A must have for the "small" gold collector! |
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Rest in Peace
United States
5375 Posts |
There are plenty of fake stellas on ebay : ) |
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Valued Member
United States
207 Posts |
If you are buying for bullion then buy cheap. Shot, foreign gold coins, etc. I like the American gold eagles or better yet the buffaloes and they are 24K but that is just me. You will probably notice that premiums are a lot higher than the used to be. Thats because there has been a two tier system develop between NYC spot prices and the actually real purchase price over the past few months. I sold some gold not to long ago for over spot value and that has never happened, so it makes you wonder about the NYC spot value..lol. The older double eagles are really hit with the premiums. You can not find a liberty head double eagle common for under $1200. It used to be they were not much over spot and the last time I looked gold was about a 1000 an ounce. Its just been going nuts over the past 2 weeks. You probably should have bought back in November. Premiums were still a little high but prices were lower. I would not buy off ebay. Try APMEX, gainesville, or bullion direct. Edited by markapsolon
02/20/2009 11:47 am
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Rest in Peace
United States
5375 Posts |
I'm not into bullion, just small gold coins with numismatic value.
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Pillar of the Community
United States
3098 Posts |
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Valued Member
United States
207 Posts |
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I'm not into bullion, just small gold coins with numismatic value I just thought you were going for bullion, my mistake. In 100 hundred from now it will be of numismatic worth..lol I would take a look at the quarter and half eagle Indian heads but my favorites are double eagle liberty heads. 1901, 1902, 1905 and 1906 Phillies are always good ones to have. 1905 and 1902 P's are later keydates and nice ones to add to your gold collection. I am also into the eagle coronets too mostly New Orleans mint. Saint Gaudens are nice too but even in common the are more expensive than the liberty doubles. I personally love the liberties more Gold Hit $1007 at its high today! WOW Edited by markapsolon
02/20/2009 4:43 pm
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Valued Member
United States
207 Posts |
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Replies: 14 / Views: 1,296 |
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Posted 02/19/2009 6:38 pm
