I need some opinions to help me with a tough decision. I've posted in several threads that I have a complete type set...WITHOUT the gold. I'm using the Dansco 7070 album with the gold page insert. I already have 6 of the 10 pieces on the gold page, and I'm just itching to complete the set. Unfortunately, I don't currently have the funds to do so right now. That's where my decision comes in... I also own a few Carson City GSA Morgan Dollars, including an 1880 and an 1881, and a gold 1997 $5 FDR. I'm considering selling off these pieces to generate the cash to buy my missing gold for my type set. The pieces I'm missing are: Type III Dollar Indian Head Half Eagle Indian Head Eagle Liberty Head Double Eagle Would this move be a good idea or bad idea? Please throw out your honest opinions as well as pros and cons from both sides, from both a numismatic and investment standpoint. Thanks guys, and I look forward to hearing your opinions on this!! pCG
I can't help you, it's your collection, you have to do what's right for you. If the Morgan's and $5 gold no longer fit into your collection, then it may be time to sell them. Just do what feels right.
I agree with Becky, it all comes down to your choice. Does this set have to be completed right now, I mean right now? Part of the thrill of coin collecting comes in the anticipation of new coins. If it takes you awhile to save up for the wanted coins you will appreciate them that much more. I certainly wouldn't be too hasty about selling something off that you might regret later. Either way you go you're going to have some nice coins.:thumb:
Based on the way you stated your dilemma, I think you've already answered your own question. It's impossible to be wrong with this sort of decision and completing the type set seems more important to you than owning a few nice Morgans that don't really fit into your collection. I'm guessing here, but I think completing the type set is going to bring you a lot of satisfaction.
I agree that it is up to you....if you like the coins you would be selling don't....start to set back the money. When I was looking for a 1909-S VDB what I did was go and buy rolls of State Quarters from my bank....I knew that as long as they were BU and in rolls I wouldn't spend them and yet I would only have face value in them....after about 2+ years of doing that I found a 1909-S VDB in a PCI VF20 slab and bought it without having to pay on it!! I traded all of the State quarter rolls for face value to a guy that collects State quarters....I know that at a shop I might have gotten more than face but the S VDB was what I wanted and I didn't want to sell any of my other coins to get it. If you don't care getting rid of the coins and you want the gold coins go for it! Speedy
You have been speaking with pride about the Type Set and I think that is the most important to you now. I agree with those who are asking if you're really putting the priority on getting that done first. If there is some sentimental value to any of the pieces that you are considering selling that might cause you to regret that decision later, please keep that in mind. But I think part of the hobby is, eventually, trading items. I'm already there with model trains-- sale of material that I'm no longer interested in helps finance some new goodies. Of course, the vast majority of model trains sell at a fraction, rather than a multiple, of the initial purchase price. I would also ask: Can you get a good deal? Have the pieces you are considering for sale appreciated to the point where you can afford to make the switch?
Thanks for all the feedback... I DO like the coins I would be selling, and obviously I would like to keep them AND buy the gold. But with the cost of the four remaining pieces coming in at nearly two grand, it will be quite some time before I have the funds to complete the set...so I think I'm just getting a little impatient. Would I regret it later if I sold the GSA Morgans and the FDR gold? Probably yes...I've never sold off ANY of my collection to date and I tend to hold onto things; but I'm also wondering if I'll regret not getting gold while it's still hovering around $650/ounce. Somewhere in the back of my mind I keep thinking about all that speculation that gold could jump to more than $1000/ounce. As far as getting a good deal, I would be making a considerable profit if I sold the Morgans and the FDR gold. But, I'm still not convinced it's my best deal to dump these pieces right now for gold. I guess I'm like everyone else...I want to have my cake and eat it, too. If I owned NEITHER right now and I had the funds to buy EITHER the four gold pieces OR the GSA's and the FDR, I'm sure I'd pick the gold. I'm just not sure I want to give up the bird in my hand... pCG
One last thought...I DO like the low mintage FDR piece and I'd probably check the values on that one the rest of my life and think, "Man, I used to have that coin...wish I still did."
