Sigh, may have to sell one of my favorite gold coins

Discussion in 'Coin Chat' started by GoldCoinLover, Oct 3, 2009.

  1. GoldCoinLover

    GoldCoinLover Senior Member

    I've decided to just find a local job within 5 miles (so I can ride my moped to it), get a job, save up money and then buy a cheap car. It's a win win . I've decided I just can't come to terms to sell something that I will regret.
     
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  3. illini420

    illini420 1909 Collector

    Gotta take care of yourself first before you take care of your coins :) If you need a car to get the job you want/need, then sell the St. Gaudens. The 1908 No Motto in an MS64 grade is a common grade and a common date coin that will be able to be replaced when you want another. Of course, it may cost more than the $700 or so you paid for the one you have, but you'll be able to get much more than $700 for yours right now too. I would guess the 1908 in 64 is worth anywhere from $1600 to $1800 right now... depends on who's buying I guess. But others may have a better handle on the day to day gold market.
     
  4. Leadfoot

    Leadfoot there is no spoon

    That's a tough call, but in the end that coin is really replaceable. I would seriously consider selling the coin, because if I were in your shoes I'd want a car more than a coin right now.
     
  5. Magman

    Magman U.S. Money Collector

    Just make sure - should you decide to buy the car - that you get one that will have a low insurance cost.
    (at least coins don't require monthly payments :) )

    Good luck!
     
  6. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    Make sure if you do sell, you sell it to somebody you can buy it back from, if that possible in the near future... If not, you can always buy another one later on, and maybe in a higher grade? :)
    Good luck!
     
  7. I wouldn't sell it. You already KNOW you will regret it, and getting a job is no guarentee. You can get a used car for less money, and keep both, right. (Just make sure to have a trusted mechanic look it over first). If you get something from the 1990s, you can find them for under 1000 if you don't need something nice looking. My mechanic has a 90s Volvo something or other (I only know American cars) for IIRC 600 bucks. You can get a cheapo beat up junker to get you through, and then when you DO have a job, you can use your salary to pay for a better car, or keep your car running.

    If you do decide to sell it, will you always resent your mom for pressuring you to sell it, from now until the end of time? That is certainly something you should consider....Is a car or a job that may not happen worth permamnently damaging your relationship with your mother?

    Based on the tone of your post, I think YOU don't want to sell it. Always trust your gut feeling.
     
  8. gxseries

    gxseries Coin Collector

    Think about it the other way around: can you live with your coins tomorrow if you can't afford to pay your living expenses?

    Everyone needs to work to pay their living expenses. Money doesn't fall from the sky. If you can't afford to pay your grocery bills, how can you possibly afford to keep any expensive coins?
     
  9. ontime1969

    ontime1969 Junior Member

    Real life must come first, you need a job and you must be able to get to work safely and in a relative short period of time. Make sure you get a safe car, don't buy a motorcycle. Your going to need a car for collage also. Think about the coins you will be able to buy with you new income. :thumb:
     
  10. fretboard

    fretboard Defender of Old Coinage!

    That's a very tough call. Are you unable to take a bus in your area? The profit margin is good enough for selling that's for sure. Times are tough right now and I can totally relate to your circumstances. Now with that said, are you guaranteed a job if you have a car? Be sure and think through all options, angles and viewpoints. If you gotta eat and selling the gold is your only option, then you know what you gotta do. good luck with your decision.
     
  11. tauferners

    tauferners On a quest for knowledge

    Jobs are much more scarce than coins right now. Sell, take your profits and start your career. The most valuable commodity you have is time, and they will pay you for it.
     
  12. giorgio11

    giorgio11 Senior Numismatist

    You need a job to get ahead and buy more coins, I would sell it. The last one in this grade sold on eBay for $1650. A major dealer's current Buy price for No Motto Saint in MS64 is $1605.

    Good luck!
     
  13. scottishmoney

    scottishmoney Buh bye

    I have been there at various times in the past, having to sell gold coins in order to pay bills. Back in the days, when I worked for an oil company and made an egregious salary - I was socking away $1K or so a month on coins, sometimes a lot more. I built up quite an accumulation of $20s that then I ended up selling, at least at a profit later on when money got tight and I had to make car payments, insurance, rent etc.

    I would say sell the coin, you have made a profit, get a car and open yourself up to employment opportunities, you can buy better coins later.

    Again I have over time accumulated a bunch of $20's in various bank vaults, but with as many kids as I have, I can see them floating away to pay for braces, college educations etc. Coins are material objects, something to enjoy for awhile, then pass them on to someone else to enjoy. Stuff like jobs, family, a roof over your head are far more important in the scheme of things.
     
  14. Art

    Art Numismatist?

    I have to agree with most of the "sell" crowd. The only thing I'd do before selling is actually find that job. Maybe you'll luck out and get something where public transportation or car pooling can eliminate the need for the sale.
     
  15. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Taking care of life is the highest priority. You might regret selling it, but just think of all the coins you will be able to buy once you start a new job and have income. Believe me, the feeling of independence and confidence that comes from having a job is highly uplifting (and the ladies like it too ;) ).
     
  16. RickieB

    RickieB Expert Plunger Sniper

    I would suggest one thing first...what ever car you get with funds from the sale of this coin...I would make sure it is in sound operating condition..if not, you may find yourself needing the job to fix the car you sold your prize coin for!
    Now that would really suck!

    RickieB
     
  17. Vess1

    Vess1 CT SP VIP Supporter

    You're in a tough spot. I would borrow a vehicle from family members (if at all possible) until the job was secured for a few months. Then I'd sell the moped only and add that to whatever cash you could save to use on a down payment on as new of a vehicle as you could get. But not a brand new one.

    I've sold several high dollar items in the past and it never panned out the way I expected. The money always ended up going to something else I never intended it for and next thing you know, it's gone and you didn't achieve what you thought you were going to. Granted, I wasn't going after something that was needed, but it was important none-the-less. In the end, I should have kept what I had. Now that I've been living on my own with many bills to pay, despite having a decent job, it's not that easy to blow 1500 on this hobby and 2k on that hobby. In other words, it's hard to get something like that back.

    I know others may not like my opinion here but that's the way it was for me.

    Do you have to pay cash for the car? You're shooting for no loan? I had an old 87 Chevy pickup in highschool that was pretty sweet. We got it for 3900. I paid half and my dad paid half. It had 106k miles on it when I got it. I loved it.

    Over the next several years of owning it, I had to put another 4k in it before trading it in for about 3k on a brand new one. Cars are a BAD losing proposition.
    I would get the newest thing you could afford and just make payments. You don't want a $500 repair to sneak up on you like I had in the first year.
    It will help build your credit rating which you will need down the road. If you pay cash for an old beater, it has zero impact on your credit rating because there is no history. Which just makes it harder getting your next car or a house. The payments suck but you're in a better position overall.
     
  18. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    It's an easy call. Sell the coin and buy the car to get your career started. The regret you feel will pass, but the benefits of a job will fund many more coin purchases in the future.
     
  19. andrew289

    andrew289 Senior Analyst

    Sell the coin. No brainer.
     
  20. Ardatirion

    Ardatirion Où est mon poisson

    Whenever I go to sell a coin, I ask myself "Can I replace it?" Assuming this job works out well for you, you'll soon be able to buy more double eagles. There will be more no-motto-08's in 64, rest assured.
     
  21. Firmso

    Firmso Coin Dawg

    I do not know how you bought the Coin in the first place if you do not currently have a job.

    I would sell it and buy the car. The car is what you should have been saving for anyhow. Your future first, Coins second. Every mother understands that. Go give her a BIG hug.
     
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