Good? No. Great? Yes - for the seller! You would be paying more than 5-1/2 times melt for a bullion coin that has no significant numismatic premium over its bullion value.
I should have said "except in the highest MS grades". Your original post disn't mention encapsulation or a grade, and I simply assumed you were talking about MS65 or below. If you took offense at my response, I apologize. No offense was intended.
Pupa: If you knew that it was a Proof 70 (which you did not mention) and that it was listed at $1700, then why, after not leaving the full details for the coin, did you get insulted? Roy voiced his opinion, nothing else, and did nothing wrong. I probably would have said the same thing. Was this a test?
pupa - Perhaps I am mistaken, but I think what you are asking about is the 1999-W $5 AGE that was struck with unfinished Proof dies - is this correct ? If so, that explains the high price for this coin is considered to be an error and to the best of my knowledge there are only 14 of them have been graded as MS69. I am not aware of any that have been graded as MS70. However, if you are talking about a regular Proof 1999-W $5 AGE, then have only been 4 of them graded as PF70 DCAM. And that would explain the high price you mention. But even at that, auction records indicate that the highest price paid for one is under $1500.
i think he is talking about the GW Commemorative. coin values list this as $425 at MS65 $400 for proof65
First let me say this , I never got offended by Roy`s comment , I was only suprised by it because of the PCGS number of $1700.00 , so let me back up and say Thank You Roy for your info . Second , I am new to this coin collecting bit , just started a couple of months ago , so I do not know what the difference is between the dies that a coin is struck with ( unfinished or not ).How can I tell ? What do I look for on this coin? Is there something on the certificate of authenticity ? Or do I just take a chance and send it to be graded ? Mint = West Point Condition = Proof Weight = 8.359 grams Dia. = 0.850 inch Composition = 90% gold (.24 troy oz.) 10% alloy Mintage 100,000 max. to include all options offered
Pupa: First, you probably cannot tell which dies were used, unless you are REALLY good, there are some very slight differences in the proof vs regualr dies. easiest way-- look for the mirror surface this will (normally) be a proof.
First off---PCGS's price guide isn't a good one to go by---it is a hyped up guide that isn't good. Go by ended online auctions. Also---you say that you are just starting---the best tip I can give is the old saying---buy the book before you buy the coin---I think you have posted some questions about buying some high dollar coins here lately---if that is the kind of coins you are interested in I wouldn't buy ANY untill you know a good amount about the coin--how to grade it---how to spot cleanings and fakes---and much more. Speedy
I do have a red book and a couple of different mags , but nothing but experience will ever be the teacher , I like the high dollar coins cause of the investment , they are already worth more than their weight and can only get better ( I hope) I do have alot of cheaper stuff like $20.00 and below on some morgans and peace dollars
Major red flag here! Stop buying. Experience is a great teacher, but the tuition is extremely high. If you want a coin as an investment, buy a bullion coin as cheaply as possible. You can't do much better than that. If you want to become a collector, find a coin series you like and study it. Keep in mind that the "high dollar coins" might only be high dollar because you are willing to pay that much, not because they are worth that much.
I would never never ever suggest coins as an investment---if you don't know what you are doing and don't learn about them you will lose your shirt faster than taking it off The Red book and some mag's is not the tools you need---you need such books as: ANA Grading Guide PCGS Grading Guide and those are just 2----many more are needed. If you just think that since they are already worth more than their weight means anything think again---a coin can crash in value over night---and has many times. Experience is a good teacher----but it needs to be helped along with reading and learning---like I said above. Buy the book before you buy the coin---and since you are buying $$ I will also suggest---buy ONLY slabbed coins and those graded by PCGS/NGC/ANACS/ICG. If you buy raw and don't know how to grade or much else you are just looking for problem after problem. Speedy
Pupa: Cloudsweeper & Speedy are trying to be nice and to save you a future where you will be sorry. There are many people who enter this hobby with great intentions, like yours, as happened in the early 1990's when Wall Street heard about all of the money that was being made in 'rare coins'. They proceeded to get investors and buy up a lot of expensive type coins. As a result, the coin market went crazy and values tripled (and more in some cases). However, they had no idea what they were doing and before long pulled out with massive losses. There are still coins that have never recovered to the prices that were being paid in those days. The only way to learn is to read, and I suggest, only purchase slabbed coins, that is, slabbed by a reputable grading company. Don't rush, take your time and learn. Good Luck.
I think you are right, that's what I get for not reading closely enough pupa - Is this the coin you are asking about ? Click Here If so, first of all please notice that the coin did not sell at the asking price. Why ? Because it's not worth that much. At best, it might sell for about $800 - and I don't think it's even worth that much. You can buy the same coin slabbed by NGC in the same grade for about $500. If slabbed as PF69 DCAM by PCGS, it only cost about $400. Coins like these slabbed as 70's are modern condition rarities and the only people who buy them at those high prices are those playing the registry game because they need them to score points. Nobody else will buy them at those prices. And if you took the coin to a dealer and tries to sell it, he might offer you $300. But that's it. Now that's not much of an investment. Also, you need to understand what Speedy was telling you - the prices listed in the PCGS price guide are a bunch of hooey. They list the coin at $2250 and going down. And the one I listed didn't even sell at $1700 - see what I mean ?
I like the modern gold commems a lot and I think they are underrated, but you can save a lot of money buying something less than a 70 if your particular collection doesn't require perfection. Personally, I can't tell the difference between a 69 and a 70, so I won't pay up for it.
