I am thinking about selling my Morgan Dollars so i can afford a nice gold coin, and after that start collecting gold coins when i can afford one, does this seem like a good idea?
Yes but I would encourage you go with silver coins instead since silver is in my opinion, the last of the affordable precious metals.. At 17.80 a pop currently, you can buy a lot more silver than gold.. But if you're just looking for beauty, gold coins I think are generally nicer.. I like the glazed yellow color on some of the Australian luners.. So if you do decide to do gold, the Lunars make very beautiful coins.. Sometimes they go for a premium but generally you get what you pay for with them. Hope that helps
If you hang around here long enough you'll hear how guys decide to trade in their current collections in order to allow them to go off in a different and sometimes specialized direction. One fellow who immediately comes to mind is RickyB. If memory serves, he used to be "heavy" into modern gold and platinum issues. Then, one day, he decided to get into paper money and cashed in all that "metal" to finance his new collecting direction. I, myself, am considering cashing in my bullion holdings in order to fund a foray into the more classical commem's. Still in the planning stages though. :smile James, if you want to sell your Morgans to help you obtain what you want in collecting, I see no problem at all.......:smile
Depends on how much you like or are ready to part with your Morgans. What kind of gold coins are you interested in? If 20th Century gold US coins, I suggest doing plenty of reading. I like these titles for starters: A Handbook of 20th Century U.S. Gold Coins: 1907-1933 Us Gold Counterfeit Detection Guide (Official Whitman Guidebook) A guide Book of Double Eagle Gold Coins: A Complete History and Price Guide (Official Red Books) There's a lot of other books and sites out there to study on earlier US gold as well as if you are getting into foreign or ancient gold coins. If you just mean modern US gold coins from the Mint, there's plenty of reading online to do and it may be a relatively safer than old gold in terms of learning about fakes and related issues. I guess you need to define what kind of gold coins you hope to get into more specifically.
Sorry for the double post, i was thinking about getting early Indian Head Cents, i think there $2.50 in face value. I only have 5 morgans one is graded pcgs ms-64.
Indian Head Cents (0.01¢) and Quarter Eagles ($2.50) are very different coins! Now I really suggest you do some more reading...
