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 Replies: 15 / Views: 1,702 |
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Pillar of the Community
United States
1304 Posts |
Mrs. Slick and I are about to buy our first gold coin and we need some help. I have been showing her some different gold coins, new and old and she likes the American Gold Eagles, and I have no problem with that. I think they are a beautiful coin. I have been studying them and have read and watched some videos on them. One video said that the 2009's fractionals, uncirculated, were the ones to buy due to the low mintage. I took a quick look around E-Bay this morning and saw that the price on the $25.00 AGE's was around $750 to $850. Then tonight I saw an add for Coast to Coast coins and there $25.00 AGE's were $680. My questions are, for 2009 how many different types of 1/2 ounce gold coins are there, proof, burnished ect? Also, according to the RedBook there is not alot of difference in price between Uncirculated and Proof, is that something I should consider? I am looking for some opinions and advice before I buy this. Thanks. |
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Pillar of the Community
United States
2424 Posts |
well, the mrs. and myself recently purchased a gold coin. I have the topic on here somewhere... anyway. always good to know what your motives are: investment, collecting, etc. whats your budget? in my opinion, and after a long debate with other ccf members, buying bullion 1oz was what I did. I bought a k-rand for $1175. about a month ago. i was heard to stay away from fractional gold. but I dont know. i really wanted to buy date gold, a 28 saint or a 97 indian for my type set. but for first time buyers, my local dealer was encouraging me to invest and later on buy date gold. i would also try and buy from local shops, not ebay. just my opinion. best of luck. hope this helped |
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Pillar of the Community
 United States
1304 Posts |
I read that post a couple of time now and will probably read it again this weekend.
As far as my motive, none really, never had a gold coin, got a nice tax refund so nows the time.
Budget, if we do fractionals, maybe a half and a quarter ounce coin. My wife saw a show on TV the other night about how the paper currency could one of these days be going bad and silver and gold is what you should have so that is a big part of it too.
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Pillar of the Community
United States
2120 Posts |
WornSlick, you didn't happen to be looking at a certain High Relief 2009 gold coin on Saturday in Everett Washington did you? There was a guy at my local shop with his wife looking at buying their first gold coin too.
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Pillar of the Community
United States
1304 Posts |
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Pillar of the Community
United States
1304 Posts |
Got on E-Bay again this morning, just checking out prices, and seen some gold coins that are "Early Releases". What are they talking about? Isn't a 2009 coin a 2009 coin? More confusion!
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Pillar of the Community
United States
4000 Posts |
Just hype to jack up the price.
"In theory", these coins were the first minted and are going to be in an earlier die state and supposedly be more pristine than coins struck further down the line. But in reality all it means is that they were submitted to be graded by a certain date within so many days of the "official release". Just another reason to charge an unjustified premium.
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Pillar of the Community
United States
2424 Posts |
get as much gold as you can for your $$.
whatever they have for the least over spot... whatever you can get. usually will be a maple leafe, k-rand, or AGE
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Rest in Peace
United States
4849 Posts |
I agree with SDcoinguy if you are looking for bullion as opposed to classic us gold. I personally think AGEs command too much premium for what they are. Sure, they are nice coins, but they were minted for bullion. 25%+ over spot just isn't justifiable for bullion imo.
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Pillar of the Community
United States
2541 Posts |
If you want my opinion, buy a 1 oz common date coin and get as close to spot as you can. If you want real investment grade gold, you'll be paying a lot more than the approximately $1175/oz that gold is at right now. I'm not a fan of fractional gold for the reasons other have mentioned - when you figure out how much you are paying vs. spot, you may end up paying way over spot.
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Moderator
 United States
15395 Posts |
My opinion ..... the 'modern' gold coins issued by the various countries are all essentially bullion ...... and should be viewed (with a few exceptions) as just that ..... gold bullion to be priced against spot and paid for accordingly.
Soooo .... buying factional gold will cost you more per ounce than buying a full ounce size piece.
Some exceptions are out there ..... a few early year issues of the Chinese Panda carry a numismatic premium .... and perhaps some others as well that I am unaware of ..... but ....
Do not get caught up in the hype of 'early strike' etc ...... select the coin you want and pay as close to spot as you can since you are buying gold bullion at the end of the day.
David
Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
United States
1304 Posts |
The AGE's do seem to command a high price, especially in the fractional sizes. So I take it that fractionals are not the way to go due to the cost. I am going to take my usual Friday trip to the coin store and see what he has. I know he has some and at one time, before we were interested in buying one, he told me the prices. Next question, what price over spot would be good. $50.00-$75.00? I live 100 miles north of St. Louis so a trip there would not be a problem, don't know if it would be worth the drive though. Thanks for all the advice so far.
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Moderator
United States
15395 Posts |
Wornslick ..... If you are serious about minimizing your cost and if you have the funds to purchase a $50 AGE I offer to you the 'deal of the day' ..... I have in my bullion collection four USA $50 AGE ..... two dated 2001 and two with those funny Roman Numerals MCMLXXXVII..... I believe they spell 1997.  Mind you these have NOT been treated as numismatic coins .... so there are some assorted bag hits and such ..... but they are still glowing examples of USA gold bullion coinage. I will sell you one of your choice at Spot plus you pay the postage, insurance and delivery confirmation costs. Yep .... no markup, no additions, no hidden cost, no dealers overhead ....just the spot price of the day plus the expenses to ship it to you. I am losing $$ with this offer ..... but willing to do it for a fellow CCF member looking for his first gold coin. David Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
United States
1304 Posts |
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Pillar of the Community
United States
2424 Posts |
darn it nickelsearch!
if only I had this deal 1 month ago for my first gold coin. lol
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Valued Member
United States
300 Posts |
As stated before, it really depends on your motive, you want bullion or something more along numismatic lines? I'd go with bullion, get as much bang for your buck, but if want something purdy, get a Proof coin, but you WILL pay more in premiums, fracs are the same, you pay more in premiums the smaller amount (content)
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Replies: 15 / Views: 1,702 |
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Posted 05/04/2010 9:19 pm
