May be a bad idea, so I'm asking

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I think you're thinking of silver...?

 

Wish I knew more before I sold my AGE & APE proofs, and bi-metal years ago. Had to sell them for money so took them to a high end numismatic place nearby (the best place in the area actually).

They gave me melt basically. Since then I don't want to deal with Proofs until I know more. In a down market when there are more ppl selling than buying you end up taking what you are offered.

As I was selling them to them I asked how much it would cost to buy them back. The Bi-metal was 2x what I was getting, and the Proofs were higher too. I guess that's all part of the equation of a Retail store.

It's fun when it's a hobby. But when you need to covert it to cash "no matter what" then you feel the sting. Luckily I got the AGEs & APEs when they first came out. So I didn't lose money in melt value but still ...

luckily I still have some of my ASE tubes as silver was about $7-11 and ounce and it wasn't much cash to convert compared to AGE and APEs.

 

I have several 1/10 and 1/4 oz proofs from the 80s and 90s that I see no reason to get graded but they are still top notch. Some of the modern gold commemoratives are beautiful as well and can be picked up relatively cheap.

 

If this is the type of gold you like, then buy it to enjoy. If all go,s well with gold prices, then you get the best of two worlds. I simply don,t have the resources to invest in bullion, however, I do invest in the older type 1 Liberty Double Eagles for a couple of reasons...they,re not only a beautiful coin with great historical interest, but are also not prone to market changes. These always seem to go up in value even when gold prices drop. These coins in AU condition are a bargain at around $3,000 and are a rock solid investment.

 

Buy because you like it.

 

My opinion is this:

1) interesting coin. I like the roman numeral dating, and the design is beautiful.

2) first year of issue. Generally heavily saved and most often does not appreciate as well as other issues, but you're buying as a collectible, not an investment.

3) if you like the coin, buy it. If you ever tire of it, sell it.

 

Clad vs. raw is just a personal choice to me except when it comes time to sell. Here in the USA the coin has to have OGP to be eligible for inclusion in an IRA (at least that is what the major buyers say). Sometimes the price shoots up steeply because of this. Expect to pay about $200.00 over melt for the proof currently.

 

My advice is based on experience of both buying and selling coins in general. Also knowing so many dealers. It matters not to them if they have a store front and over head due to rent ,or they only have the rent of a table at a coin show.
For example the 2008 Buffalo gold set 4 coins one in burnished one in Proof. Only issued 1 year. Issue price was around 1300-1400. Depending on Burnished or proof.
Red book value today for the burnished set $6500. Proof $7000.
Understanding that red book is just a guide not real money.
Thro $5 coin in either type below 19,000 minted the $10 coin below 10 and 13.5K ,the $25 coin below 17 and 12.2 K minted,
The $50 18.8 k proof and just over 9 K in burnished .
Fairly low mintage's , never to be minted again.
Look on e bay there are plenty for sale all priced close to the red book values unless graded and none sell!

Another example the 2008 reverse of 07 ASE mule. Graded in 69 or 68 they sell, try and sell one graded in 70.
Dealers say no thanks no one will pay for a,70 when they can buy a 69 for hundreds less.

If it's something you have to have , and money is no object go a head buy what you like.....however since we don't live forever at some point someone is going to have to deal with a coin or bullion piece that on paper looks great when in the real world it's not.
True we don't buy coins for investment , well you shouldn't , we buy them because we like them. Just keep in mind if forced to liquidate what is on paper and what is market are two different things.
Realize that if not you dealing with this,it may be your spouse or kids. I myself wish I had sold my 4 coin buffalo set and never kept it. I had also purchased the proof one and returned it to the mint as didn't realize that this was a one time shot. Had I known I would of sold after market.
Again not my call it's yours just put everything on the scale and weigh out the pros and cons before you pull the trigger. As I'm sure there are other numismatic items that could interest you and may be a better buy in the long run,just in case you need to sell.

 

Everything is a trade off. Whenever I get a slight inkling to buy something modern, I ask myself "Wouldn't I rather spend this money on . . . .?" For me, I always end up deciding that there are dozens of more interesting classic coins that I would prefer to spend my money on.

 

Thanks all you guys for some really good feedback. I'm honored to have your company and advice!

 

as are we, santinidollar

 

One other question: is the advice and counsel here equally applicable to the Buffalo gold proof?

 

My advice is pretty universal. If you like it, buy it.

Personally, I own a Buffalo UNC $10 coin because it is the same size as a Buffalo Nickel and looks virtually identical. I LIKE the coin, so I bought it.

If the value falls to $1 tomorrow, I still like the coin.

 

For me yes. I buy coins I like. If you like that coin and would be happy with I say go for it!

 

Shoot. Sold that one at FUN a few years ago to augment the commem collection......

 

If getting whatever is the ridiculously price Buffalo, get it slabbed, as the price is likely driven by condition. As for the 86... are you looking to just have the one ouncer? The half ouncers started in 87, and I actually prefer the packaging on those, personally.