Need Advice: 1861 $5 Gold....to Purchase Or Not?

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Author	Replies: 4 / Views: 2,122
LowLife Valued Member United States 368 Posts	Posted 04/22/2011 10:33 am Hello everyone! I am new to the forum..... My local coin shop has a 1861 $5 Gold for $475. My meager coin collection consists of proof ASE's and graded War Nickels currently. However, I am looking to expand my collection...I have never ventured into gold though. I know this is a very common date coin, but is it worth the money to invest? I particularly like the coin for it's "history"....being so close to the Civil War years. The coin isn't graded....and I'm not sure how to grade gold coins. Would this be a wise purchase, or should I wait for some better deals? Thanks! Report this Post to the Staff

mshev Valued Member United States 312 Posts	Posted 04/22/2011 12:46 pm Well, to start out, it contains 0.24 ounces of gold, which is about $360. If it's lower grade, it should probably just be a small premium above that. Obviously as grade goes up, as does value - so if you can't grade it, value is hard to determine. If you bring up completed sales on ebay, you can check out what similar looking ones are selling for on there. Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 04/22/2011 12:46 pm The price isn't bad for an 1861 Half Eagle as long it's a problem-free piece is XF/Better condition. If it's heavily worn and/or damaged then I'd take a pass. Here's one that sold for $375 last week on Heritage: http://coins.ha.com/common/view_ite...e=PCGS131115 ANA #R3154474 Report this Post to the Staff
OneBowl Pillar of the Community United States 759 Posts	Posted 04/22/2011 1:17 pm Based on a glance at ebay completed listings and sight unseen, I'm going to say you might be able to do about $50-$60 better, BUT...you'd have to be patient, take the ebay risk, pay shipping and hope the spot price doesn't keep on going up. I'll infer the local one is problem free and you've already inspected it in hand, that's a huge plus. So in this one, if you like it, I'm gonna say buy local! I wouldn't be surprised if you could get that one for $450 simply by striking up a conversation and then asking if they could do just a bit better for your very first gold purchase. Can't hurt to ask. Note that it gold drops $200, you're down $50, but the history never goes away. 1861 - slavery declared unlawful in Confederate states, Civil War erupts, Confederates take over New Orleans mint. Report this Post to the Staff
IHPO8S Valued Member United States 374 Posts	Posted 04/22/2011 2:44 pm i would try to get a discount on the coin. But if you really like it I say buy it. Gold is a good investment with the dollar being so worthless. Report this Post to the Staff
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