Buying gold coins

You and me both, bud!

 

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I'm sure that is true. What about coins that show alot of wear? Are those kinds faked also or mostly MS kinds of grades

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It you just want it because it's gold and easily recognizable you'd probably be better off with a bullion AGE either 1/10 or 1/4 oz. Much lower premium to acquire one of those.

 

he was saying you could pick up MS60-61 for that price. I can't even find decent raw for under $200, but I mainly buy on ebay.

 

MS Indian Quarter Eagles for ~$150 in your vicinity? I'll take all you can locate, and even pay you a 15% "finders fee" premium. I'm just a "big spender" looking for a knowledgeable collector/seller. LOL

P.S. While your locating the MS Indian Quarter Eagles, the Indian Half Eagles usually have a lesser premium, so maybe you can locate some of those ~$300 priced MS Indian Half Eagles that someone mentioned, and really make yourself some money.

JMHO

 

He doesn't believe in making money off of coin sales, so he would probably sell them to you at cost...

 

Yes, folks just need to be patient & shop around. I believe that the OP should purchase something in a slab just to lower the chance of getting a fake. These US gold coins were purchased slabbed:

I thought that it might be worth taking the photo & looking up the historical gold price at Kitco for the dates that these US gold coins were purchased.

For these examples I paid the following premiums over gold spot price:
1915 2 1/2 Indian 100% premium
1881-S $5 Liberty 16.9% premium
1894 $10 Liberty 20% premium

Remember, these coins were already slabbed. You can find even lower premiums over spot on raw coins but the OP should be careful.

Edit to add: I would have certainly purchased the 1894 raw if it were offered for less money. It has some copper spots that are indicative of true US mint products and the reverse didn't match any of the known counterfeit reverses. However, I don't suggest that the OP purchase a raw US gold coin.

 

I think I would buy every authentic $2.50 gold Indian that you can find, for $150. Want to make a little extra finders fee cash ?

 

I recently watched a $2.50 Indian go for quite a bit UNDER melt at an Allentown-based Bid Board. For the person who asked, a bid board is a fixed ending date silent auction where you write your bids on a card next to the item, or as in the case of easily lifted items, the item is in a showcase and the card is on the counter above it. I didn't bid on a U.S. gold coin at under melt because I already had the high bid on so many other coins which were even BETTER deals, that my spending budget was spoken for.

Here's the thing. That quarter eagle Indian was tucked in between some real monster high end, but raw, $10's and $20's, and they were sucking up all the late bidding attention.

Here's the other thing: gold coins aren't treated like objects of worship where I live. They're kinda "meh". This is "old country", not the western states.

 

The key to buying well is to go to limited audience bidding venues (regular auctions and bid boards) that are off the internet.

 

Sounds like it could be wort a visit to your neck of the woods. Do you offer a bed and breakfast ? LOL

 

People are not being smart selling at those venues in your area then. They could make a lot more on ebay where the audience is bigger. Just know this, your situation is a rare one, and not everyone can expect similar results. I live in a small town in rural KY and coins regularly sell for MORE than they would on ebay, which blows my mind. That's why I don't shop that way.

 

I've actually been thinking about that - a numismatic themed B&B for travelling coin guys.

 

Many of these longterm owners of this material have no computing devices and never have. They don't trust them. (And the more I learn, the less I trust them, too.) They want to consign their treasures to a seller of their demographic who they can look in the eye and shake his hand. Talk to these people about eBay and they MIGHT think you're speaking of satanic things. It's still culturally the 1930's in much of rural Pennsylvania, if that recent.

I've taken my iPhone to many of these venues. Useless. No signal.

 

Well I live in NH and this is also 'old country' and the prices you're stating just don't happen around here unless it's a one off someone got lucky type of deal. I'd love to find these coins at those prices; in fact I'd do it full time as I'd easy double that on Ebay every resale.

 

Welcome to CT...did you see your shadow on Thursday??
Buy a graded St Gaudens if you can afford.

 

No shadow. Seems like it's been eternally cloud here. I will look into one of those also. I appreciate everyone's advice

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Time to move to Pa.

 

No tax on retirement income.