What Would Be A Good Collecting Strategy With These Coins?

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Author	Replies: 5 / Views: 1,112
chuckpb New Member United States 22 Posts	Posted 01/04/2011 4:18 pm Hi there, Just want to get inputs from the experts as to what would be my best strategy in collecting gold coins with the following coins on hand. These are my start up coins and I am just new into this hobby. 1904 $20 Liberty Head (2) 1975 1 oz. Krugerrands 100 Korona 1851 Type 1 dollar gold 50 Mexican Pesos I was told that the Krugers and Korona are bullion coins and dont have numismatic value...should I keep them or sell them? and get other coins that will fit better in my collection? If you could give me a direction that is budget-friendly but worth doing, then that will be awesome. There's just too many gold coins to consider and it's hard to figure out where to start Thanks a lot - chuckpb (noob-mismatist) Report this Post to the Staff

Nelrak Pillar of the Community United States 974 Posts	Posted 01/04/2011 4:26 pm First let me say I am no expert. But, I have been doing the same thing. I have been focusing on the smaller denominations though. Seems right now most of the foriegn gold coins (not bullion) gold value out weighs the numismatic value. So being on a budget I'd suggest focusing on gold coins containing less than 0.2 ounces...there are plenty of them out there and they are neat to look at as well. The only issue you will find is there may be a slight premium due to people buying gold like smaller weights since they are easier to convert when selling for "profit". For instance if you have 5 0.2 ounce gold coins or one 1 ounce gold coin and you needed $400 you'd have to sell your WHOLE 1 ounce gold coin or 2 of your 0.2 ounce gold coins and still have 3 left over. It's kind of tricky with gold right now but hey enjoy the ride and collecting. Edited by Nelrak 01/04/2011 4:28 pm Report this Post to the Staff
johnny54321 Rest in Peace United States 4849 Posts	Posted 01/04/2011 4:56 pm Well, you have a really strong start already! Bullion is through the roof! My suggestion, if you really want to start a Classic US gold collection, is to buy certified(PCGS, NGC, ANACS or ICG) AU type coins and start a US gold type set. They have relatively small premiums over melt, but also have numismatic value to hold them up. It is truly a beautiful set. You already have the $20 lib and $1 lib. If this ends up being the direction you go, selling the Krugs and the 50 Peso will get you most of the way there. Report this Post to the Staff
coinguybrian Rest in Peace United States 5375 Posts	Posted 01/04/2011 5:09 pm He has the right idea...I would start a gold 'short set'. Having the $20 taken care of helps out a lot. Report this Post to the Staff
flipcoin Valued Member Canada 75 Posts	Posted 01/04/2011 5:23 pm is that 1904 $20 liberty up for sale Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 01/05/2011 12:07 am chuckpb: If you are into bullion coins, the implication is that you will eventually sell them. If that is the case, stay in that part of the market where your customers are most likely to be found. If you are U.S. based, stay collecting U.S. bullion coins. There is, potentially a greater number of customers that will understand what you are trying to sell. That strategy for me, being Australian, would mean Australian minted Sovereigns and Half Sovereigns which would be of lesser interest to you, because you are U.S. based. Edited by sel_69l 01/05/2011 12:41 am Report this Post to the Staff
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