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 Replies: 28 / Views: 2,914 |
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Pillar of the Community
United States
1291 Posts |
1.) I do not currently own any U.S. gold coins, but would like to.
2.) I possess almost no knowledge about U.S. gold coins.
3.) I would like my first-ever gold coin to be the size of a quarter, or larger.
4.) I would like it to be in the VF-XF range, condition-wise, with no major flaws or defects. I want a circulated coin because I want to be able to (occasionally) handle it without concern for diminishing its value or appeal.
5.) I want to spend as little as possible.
This is not a quiz or a gimmick. I really want some serious advice that fulfills items 3 through 5, above. Based on the advice you give me I am seriously going to try to acquire a gold, U.S. coin.
Which year, mint and denomination should I set my sights on?
Thanks in advance for your help! -Steve Edited by weerdsteev
06/11/2009 1:32 pm
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Bedrock of the Community
United States
12437 Posts |
#3 is going to hurt #5, a Half Eagle($5) is 21.65mm in diameter, slightly larger than a nickel while an Eagle($10) is 26.8mm which is a bit larger than a quarter at 24.3mm. You can get a Half Eagle for around $300 but an Eagle is going to be closer to $600. The Indian designs tend to be a bit more expensive than the Liberty designs but IMO the Indian designs are much nicer and would be worth the extra expense. #4 should not be a problem at all as both denominations are readily available in those grades. With that said, the price spread in circulated grades is usually small and you can get a nice AU coin for only about 10% more money.
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Bedrock of the Community
United States
10982 Posts |
I would like my first-ever gold coin to be the size of a quarter, or larger.
You will need to get a 1/2oz or equivalent piece.
I would like it to be in the VF-XF range, condition-wise, with no major flaws or defects. I want a circulated coin because I want to be able to (occasionally) handle it without concern for diminishing its value or appeal.
Not a problem as few gold pieces are below VF.
I want to spend as little as possible.
$500 will be ballpark figure to work from.
Which year, mint and denomination should I set my sights on?
A circulated, late date Liberty Eagle ($10) is your best bet. Most dates from the late 19th or early 20th century are tied closely to the price of gold and thus have the lowest premium over melt.
They are nice size (27mm) and contain nearly 1/2oz of gold. I'd look to dates from around 1878 to 1907 that are "common" and the mint is not something that matters as much as mintage and survival rate. Most of the Philly mint issues from the 1880s and 1890s are readily available in VF-EF.
Good Luck!
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Pillar of the Community
United States
812 Posts |
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Valued Member
United States
178 Posts |
Gold is way down today, and you can get a 1996 1/10 oz. Gold Eagle for $115.20.
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Pillar of the Community
 United States
1291 Posts |
Tony - Thanks, but I want an older piece.
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Valued Member
United States
178 Posts |
I know you said you wanted a U.S. coin, but you can get a 1945 Mexico 2 Peso Gold Coin for $55.53.
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Pillar of the Community
United States
1291 Posts |
Nope. Not interested. US only.
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Pillar of the Community
United States
1055 Posts |
If you feel like you can't shell out $500-$600 on a half eagle. Go with a $2.50 Indian Head Gold Piece. Increadible design. You wouldn't have a problem finding a certified AU50-AU50 for more than $300, with most being in the $250-$300 range. I bought a AU58 PCGS certified $2.50 Indian Head last year when gold was around $1000 for $245.
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Pillar of the Community
United States
1083 Posts |
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Bedrock of the Community
United States
12437 Posts |
 HJB is a nice source of reasonably priced circulated gold |
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Pillar of the Community
United States
6381 Posts |
I recommend a $10 Liberty eagle, as BHerring suggested. I would look for a better-date coin offered at a common-date price. Case in point: this AU 1895-S coin that I picked from my dealer's tray of eagles. The '95-S has a mintage of just 49,000 and lists in the Red Book for about $200 more than a common date in AU-50. Most collectors don't seem to pay attention to later-date Liberty eagles until you hit Mint State. For the same money I had my choice of common Philly coins like the 1882 and 1907, or this coin. Seemed like a no brainer to me!    |
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Valued Member
United States
178 Posts |
Jaobler, when we have gold items like that at our shop these days, someone buys them right away. The $50 Buffaloes practically fly out the door. How long ago did you pick up that awesome gold piece?
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Rest in Peace
United States
4849 Posts |
I agree with biokemist on this one, go for the $10 indian. Too bad this thread wasn't posted a month ago. I just sold a decent VF $10 indian on ebay for $575.00, so they can be had for under $600. For just a few bucks more, you could get a really decent example. I had replaced it with this ICG AU-58, and it only ran me $680(also on ebay). I'd still recommend purchasing one that is certified, even in the lower grades just to be certain of authenticity.   |
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Pillar of the Community
United States
6381 Posts |
TonysPics, I bought that coin plus one other in April, 2008. The price was $495 each and I added a couple cheap Barber halves to bring the total to over $1000. California waives the sales tax on rare coin purchases over $1000 (actually, the limit has since been raised to $1500). On that particular day my local shop had a nice assortment of gold available. |
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Valued Member
United States
178 Posts |
Jaobler,
We're in Marysville, California, about 40 miles north of Sacramento. Are you anywhere near there?
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Replies: 28 / Views: 2,914 |
Posted 06/05/2009 12:35 pm
