HI, New to coins in general tho I've collected ancients off/on for many years. I'm interested in Starting to collect gold coins, at present I'd like to concentrate on modern era coins first. I did search and read several threads on professional grading of coins. Is it really worth the extra premium for graded coins (even modern era coins). As opposed to this, how does the MS grading compare with a coin set brought from the US mint as a proof set? I know these questions have been asked millions of times before, please bear with me. I did also check the FAQ as well. Thanks very much Chris
Depends...for me, if I have to buy "sight-unseen" and two coins are presented to me (i.e., ebay), one that is graded MS69 by PCGS or another that is graded MS69 from John Doe's ebay store, all things being equal, I will buy the coin that is been authenticated, graded, certified, and protected by PCGS...and sure I may pay additional just for the peace of mind of knowing that what I am buying is, what it is. The top four grading companies are PCGS, NGC, ICG and ANACS (not neccesarily in that order). For me, I don't have any use for the others. Sometimes, I like to see how the graders are "grading" by going to: http://www.greysheet.com/ Proof sets coming directly from the US Mint should grade no lower than PR67. However the differance in costs between a PR68 coin and PR70 are huge, so it depends on your budjet. Also, the prices take off since you as a collector can boast that you possess a "perfect" coin. Not too many of these coins floating around to the billions that are struck every year. Remember that MS coins are differant than PR coins and are graded as such. They are minted totally differant and every grading company grades them as either PR or MS...never one in the same.
"the peace of mind of knowing that what I am buying is, what it is". Ed Zak.' I'm on the same page as Ed. I would rather spend a few extra bucks and get what I want rather then get ripped off. It is a big difference in my mind. Shopping for the best dealer(s) in my view is more important then shopping for the best price. Once you get dealers you can trust, then shop for the best price. AS for slab coins, the highest grades are to expensive for me. So for new gold what I often buy is Brilliant UNC. bullion and not in that 68+ range and I am sure that there would be little collectable value in those coins in my life-time but would be neat to pass down to a grandchild. For the older coins, I often find medium graded coins that are slabbed and from dealers to be cheaper then what I see on e-bay. But then again, I do not view e-bay often enough to find those gems and great deals. PostScript: Buying slabs is buying the rep of the company doing the slab so I myself would not buy from any fly by night service. Good luck and as you read the posts you will see that there are some very knowledgable people posting some very good information. As for me, I'm just a guy who collects here and there and posts in between changing diapers and going to the park, etc.
I buy modern gold and bullion in the raw (brilliant unc.) without any hesitation from just about anyone, especially bullion. I prefer my old gold or classics from a trusted dealer and must see it, especially U.S. gold, before purchasing. If I were to buy classics on Ebay they would then have to be slabbed by one of the big three grading companies OR the seller would have to guarantee a return policy (in writing for my lawyer). I find it a tad bit harder to purchase classic gold from anyone other than my dealer but have purchased foreign gold through Ebay sellers but am very particular where the seller is from and I DO READ FEEDBACK before bidding. Have not been burnt yet (knock on wood) but I am also used to buying and trading all over the world for world crowns and euros and believe me when I say they are "cheaper" when dealing directly with other collectors, regardless what country they are from, than waiting for the coins to "maybe" find their way to a dealer here in the states. In many instances foreign coins have sold out before a press release is even issued in this country so having collecting friends abroad has really kept me in the loop and my collection is growing nicely.
Hello, and welcome! Not to me, it isn't. Not sure I understand the question, but I can say that many products that the Mint sells, are of pretty poor quality. They are, of course, in MS (Mint State) condition.
Howdy Chris - Welcome to the Forum !! You've pretty much heard both sides of buying slabbed & raw. But what you didn't hear is that there is little difference in cost between the two unless you purchase ultra grades. That being the case - I prefer the slabbed coins. There's a couple of reasons for that - one being that the coin will be easier to sell at a later date if the need arises. Another would be the protection afforded by the slab. Yet another would be that you are certain the coin is authentic - there are counterfeits on the market. To me - that's enough right there to make the slabbed coins worth the extra few doallrs. Your question about comparing the MS grades to a Proof set purchased from the mint isn't really one you can answer since the Proof coins are not made the same way as the business strikes. You just can't compare one to the other. And the Proof versions will cost a good deal more. It just depends on what you want.
If you are interested in the modern gold proofs, you should be fine buying ungraded. I would just be sure that I got the mint-issued COA with any of those, especially if purchased on-line. They actually make a very nice presentation as they're packaged from the mint in velvet boxes. JMHO
Chris One question...are you wanting to start with Gold Eagles or gold Commemoratives? If you want the eagles I would go slabbed but if you wanted commemoratives I would try to get them in the mint packing and not worry about the slab....but what I suggest is to buy a little both slabs and not slabs and see what you like. Speedy
If you are new to buying gold If you are new to buying gold don't overlook the Australian Coins. The gold bullion can be purchased in 1/25th, 1/20th 1/4, 1/2 & 1 oz of gold. There are larger sizes but if you are just starting this is a nice way to get some very lovely coins for a lot less dollars than some of the American coins. Some of the dealers here in the US sell them for the same amount you can get them from Australia for, that includes with Shipping. Whatever you buy, check out the coin first you need to like what you buy - don't just "complete a set to have a set" Unless you are really into sets. Welcome and Good luck -Feel free to ask almost any question on hese forums.
Hi zvez, Since you hit on what I love to collect, I'll give ya my "gold" 2 cents worth Ever since I started collecting the modern Eagles, I have always been partial to the 4-coin proof sets the mints sells--Those are the only ones you buy directly from the US mint, and when slabbed are the one with the PF?? grade--As for the MS state gold coins, well those beauties cannot be purchased directly from the mint, they can only be purchased on the "secondary" market, by that I mean dealers--(usually)--Of course as stated previously, the proof coins are somewhat more expensive--Those that I have purchased I know are genuine because I purchased them all from the mint--Those I purchased from private sellers I checked out and made sure they were real-- Now I'm a modern gold proof collector, but my preferences is in the OGB, Original Government Box, with COA, everything!! must be perfect since I usually pay a premium for that--My goal is to have 1 of each from the beginning--Since these items are expensive, I'm still working on it The "other" gold coins I love just as much are the $20 Saint Gaudens Gold Double Eagles--In fact thats what started me collecting to begin with, before I fell in love with modern proofs--On the $20 Saints tho I would recommend caution as far as buying in "raw" form--Unfortunately I had a few, (3) bad experieces buying on ebay raw $20's--Unfortunately at the time I did not realize that slabbing companies will not slab cleaned coins After having 3 returned in body bags, I have since educated myself on how to detect cleaned or whizzed $20 Saints. I would definitely recommend a trusted dealer that will guarantee non-cleaned coins you intend to slab--Make sure there is a return policy, better yet you should be able to detect cleaning yourself (teach yourself)--As for ebay, I recommend only slabbed coins from there, NGC 1st, ANACS 2nd, PCGS 3rd--To me PCGS undergrades there coins, especially Silver Eagles-- Anyways I hope I didn't ramble on to much--Any questions??
HI All, Well, actually purchased my first gold coin a 2005 $50 eagle in pcgs ms69. On reflecting and reading some past posts, I'm wondering if I'd be just as well advised to buy BU coins ie not slabbed. Am I correct in assuming these Gold eagles would sell close to the value in Bullion? I can't see paying the extra $$ for slabbed coins in this case. I'd really like to work on acquiring one each denomination for as many years as I can afford. Additionally, I do look the Aus Kangaroo coins too. One last thing, are all the gold eagles struck at the same mint? I'm I crazy to not be that hung up on MS coins? Chris
Silver or Gold There are two series of Kangaroos the gold bullion and the Silver $1, Which ones are you eyeing?
Buying unslabbed can be a way to go - but in recent years there have been counterfeits discovered, albeit rarely and so far only platinum. But of you buy ONLY from a reputable dealer that risk could be greatly discounted. Yes they sell close to bullion, in fact usually above bullion about 10%. But the slabbed examples can sell for a good deal more than that. The ultra-high grades can be several times bullion value. Now a lot of folks will say horsepuckey - but facts are facts folks - they do. It all depends on what you want - that's all that matters.
