Gold coins-What to buy?

I plan on selling some of my silver collection, doubles of things I have etc, and opt to buy some U.S. Gold coins with the money. When it comes down to it, I know it's personal preference in certain coins, but I've been "window" shopping around for quite some time. I really like the Indian Gold Heads, Gold Liberty's and the like. Would it be wise to buy low graded gold coins at first than raw? My knowledge of gold coins is far less than silver ones. I've been to local coin shops in my area and all but one don't really have an inventory of gold coins. The one that does seems to me, at least to overprice by a couple hundred dollars. Any recommendation would be helpful during this silver-gold transition. I've also considered sites like Apmex, as well. Thanks in advance.

 

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I'd say yes it's better to buy low graded slabbed coins if your talking about pre 33' US gold rather then raw if you don't know what to look for. These coins are heavily counterfeited so with a slabbed coin at least the coin your buying is most likely genuine. Unless of course you have a decent dealer that your sure is selling genuine raw coins. For pricing unless your buying damaged coins ex jewelry etc most have a good sized premium for US gold. If you want low premium gold check out some Mexican gold such as the pesos and dos pesos these are usually available for a very small premium or modern US gold coins. The modern US 1988 Olympic $5 or 1986 Statue of Liberty $5 are nice looking imo and can be found usually closer to spot then pre 33 gold.

 

Go slabbed (nice grades) early 20th century double eagles at $100-$200 over melt.

 

If the price is very close, I would echo buying circulated slabbed versus raw. I don't say this often, but in this case the slab is worth it since its protecting you versus counterfeits, something slabs can do well.

Also, buy from a trusted name. This is not the time to look for a Craigslist deal. There are fake slabs around too. Best to spend a little more and get the guarantee of authenticity for larger dollar purchases.

 

The AGE'e and the $5 US commemorative series gold's are a good place to start. But if you have a hankering for the Indianhead series, I do not see how you could go wrong. With the super inflation that is coming, the sooner you buy the better. :yes:

 

Thanks for the replies. I do like the commemorative gold series as well. I'll post what I've decided on in the coming weeks.

 

look into the 2007 spouses. .9999

 

My recommendation would be pre-1934 gold coins slabbed in XF-40 or better.
You can choose the issue that fits your budget.
Maybe even try a type set.

 

+1

 

I too would like to sell of some silver and get some gold coins. I was looking into 2.5 Dollar Indian Head.

 

I would also suggest, if they have sales tax in your area, dealing with a reputable source out of state. That way, you can save on sales tax (if applicable) and this can be a savings when you are talking a couple thousand dollars and more.

Furthermore, Doug mentioned buying coins you like. If this is numismatics driven, then I agree to a certain extent. You certainly don't want coins that do not appeal to you and that you don't want to look at and admire. However, if it is more bullion driven moderated by numismatic interests, then I stand by what I stated prior. You should be able to find slabbed coins you find attractive with a modestly appropriate margin above spot for numismatic value.

 

oh btw keep in mind plat is quite a bit lower than gold currently

 

The 4 coin Gold Proof set is a little pricey, but always seems to increase in value. I have bought these sets each year since 1988

:hail:

 

Thanks everyone for your input. For the most part I do plan to purchase pre-1933 gold coinage. If budget does allow, I'll most likely pick up a gold spouse or an AGE as well. I really love the Buchanan's Liberty gold spouse coin. That is one of my favorites from the series so far. I'll know more next month about where I should be for my budget. I mentioned lower graded coins mostly for the budget. Although I have seen some very nice eye appealing coins in low grades too. The only raw coins I'd buy would be direct from the mint. I could always send them in later for grading. I live in Maryland and as far as I can remember we do pay sales tax on coins. I do most my buying online from a coin shop I've personally been to several times up in Michigan. Thanks again everyone and have a happy Thanksgiving. IF I buy a lower grade coin I do not plan on upgrading. However if there is higher graded coin I want, I'll continue to save for that particular coin. I am not jumping into this lightly. And yes, I've also thought about picking up a platinum coin as well. We'll see.

 

I would go with RAW pre 1933 gold (if you know how to grade) and store it safely in an air-tite. Amazingly, the prices are very similar to buying common bullion.

 

that's what I do. the first three $10 libbys I bought slabbed ms61 then with those as a giude I go for raw coins at a cheap to bullion price. same with Saints. to get into gold with a low premium if you want modern I also recommend the $5 commems

 

I would recommend graded US Gold Type Coins AU or better fairly close to melt and Modern Commem issues MS / PF 69 or bettter close to melt.

 

Its fine if the person knows how to spot counterfeits. Gold coins have always had more counterfeits than other coins.

 

I thought I'd update this thread a bit and share with you my first gold coin purchase. I am presently on vacation in Michigan and went to the LCS. I've bought from them before and had no problems with anything I bought. I decided on a 1926 P 2 1/2 gold indian head. The gentleman helping me said it was uncirculated. He had 5 gold indian heads to choose from. I asked if any were cleaned and he told me no. He had them priced at 375, except for the one I wound up getting. I got it for 415.00. I traded him Three 1929 National Banknotes for it. I got the best photo's I could with the camera I have. Let me know what you think.