Hi, I don't own a single gold coin in my collection and know next to nothing about what's available. I posted here as I'd much rather own a U.S. gold coin if I could afford one than a world coin if possible. It might be a pipe dream, but I was curious if there is something available in the $125-$150 range that would actually be a nice coin? If this was any other metal I'd be hunting for something circulated so I wasn't paying a premium for perfection, and I rather like a well worn coin for it's character if it isn't otherwise nasty looking. Somehow I don't believe there are lots of gold coins rattling around in anyone's pocket change though. My goal is getting something with a nice design or even age over just buying something worth the gold value if possible. Not sure that is realistic or not which is why I'm here. Thanks for any input!
1/10 oz American Gold Eagle BULLION coin. Of course, shop around for best price. But beware of fakes. So, I'd buy only from a reputable dealer. Like this: http://www.apmex.com/product/93746/2016-1-10-oz-gold-american-eagle-bu
You should be able to get a worn $2 1/2 Indian that meets all your requirements. Historical story, attractive U.S. coin designed by famous artist, practically all of the design still visible although worn. A circulated Type 1 gold dollar is a good choice also. On the real cheap buy an ex-jewelry polished coin but that I don't recommend (however, you can't hurt it and can carry it around to fondle now and then.
Nope, won't find a decent $2 1/2 for under $150. You can occasionally pick up nice $1 gold for under that though.
Sorry for the bad info @Akovia Guess I may have better sources/connections in FL than the other posters in the thread. Then you'll need to go for a gold dollar. Last month I bought an MS-66 Type 1 Counterfeit for $85! The genuine ones should be in your price range.
Guess so. Seems like you could make a comfortable living buying at that level and reselling to dealers. How close to melt could you get $3 gold?
If I had that kind of turnover potential available, I sure as heck wouldn't be telling anyone about it.
I though you owned a coin shop SD? People come in begging to sell their gold below melt! You should see the beautiful jewelry that gets broken up and sold as scrap gold. On occasion I get to go into the zip lock bag of jewels, cabs, etc and take a few for my gem collection. The diamonds are kept in a separate bag and I got a few of the tiny side stones @ $2 a point. Damage edge/mounted jewelry coins are around melt too. I believe any member here (especially those who work PT for dealers) can attest to my claims. Furthermore, I don't buy the stuff. My dealer friends do. THEY MAKE THE TURNOVER PROFIT not me. I get a "bone" once in a while for what I can do for them. Bet all you dirty minded members can't believe Insider wrote that!
We've already discussed that in detail off-forum. You know exactly where I stand in regards to the greater hobby.
So maybe what you meant to say, @Insider, was "you can get a nice $2.50 gold for $125-150 if you are a dealer who isn't reluctant to lowball people coming in to sell, or if you're well-connected with such dealers." The rest of us are lucky to see a non-problem example under $250, and $300+ is more common...
Then, I stand corrected . Please don't be mad at me. I thought this was normal "horse trading." Nevertheless, if you are paying $250 for WELL WORN F+ $2 1/2 Indians that have dirt in the crevices that make their design stand out nicely - (perfect for the OP); you are not in the right place, with the right dealers, at the right time. Now, let's not get into a debate about ethics and start pontificating. Many moons ago (Indian slang ), I've picked-the-eyes-out of some customers before - so much so that I will probably rot in hell for it. Nevertheless, sheep are for shearing. Ignorant numismatists and dealers are ALSO. Those dealers who pass their good fortune "forward" to others will be blessed forever in my eyes. I've been very fortunate in my numismatic dealings. I've sold too low by $$$. I've also paid too much (at the time) with excellent results down the road. Thankfully, it usually balances out. Unfortunately, I thought most of you long-time members/dealers were in the same boat. I'm not going to "spring" for a well worn $2 1/2 Indian any where near $250. I get to buy things below melt on many occasions. Here is another experience I'll brag about to make a point: Three months ago, a well know southern dealer gave me an "Omega" High Relief $20 in a capitol holder - destined for his refiner - FOR FREE! The coin is pictured on a recent Collector's Universe thread about the "Omega" man. So you see, I've been very fortunate to have some very good dealer friends and get some unbeatable prices.
I like what Jeffb had to say. I think you need to move your price range up a bit to get a presentable coin that is problem free.
I'd save up the extra money . I know $100 or more can seem like a lot when you're young or living month to month but if you can save $150 an extra 100 isn't that far off and you get a coin you'd really like . I love Indian 1/4 eagles as its a great design .
Sorry I haven't got back sooner. Between family visiting this weekend and investigating the suggestions here, this is my first opportunity. After realizing how small the coin would actually be for my price range, I think I'll hold off until I can afford something a bit more substantial. (Though that 2 1/2 Indian is on my radar as it sounds like just the type of coin I'm looking for.) I have never purchased a coin before and only own what I have found by roll searching and been gifted from family members. I don't have any disposable income right now so was looking to make a trade for a nice Lincoln error I found many years ago. I love the error, but I really want to hold and enjoy some coins that I will never run into in circulation. I'm sure I just set my sights a bit too high right out of the gates, so instead might try to acquire a few older coins in "mediocre" condition to maximize my enjoyment of coins I'll never find otherwise. Just need to learn a bit more so I can feel confident in making such a trade without ending up dissapointed. As always, this has been very informative and I really appreciate everyone's input. I now have a direction to pursue which is more realistic. Cheers!
That must be some friend considering the piece still had around $1200 worth of gold in it, and they can be sold for a premium to someone that wants an Omega.
I showed him how to conserve some coins last year on two occasions. Now he buys, conserves, and off they go for slabs. He claims I have made him close to $80,000 in sales and upgrades since last September. Last time I was in the shop he gave me a beautiful pair of ruby/sapphire earrings for my wife (FREE AGAIN as the gold was destined for the refiner) when I said it was a shame to break the stones out and destroy them! PS I now own two of those $20. When gold goes to $2,500, one is gone!
