Bag of Gold?

Hello everyone,

First time poster on here and I'm looking for opinions. I have a few ounces of gold in fractional coins, only one slabbed buffalo. Question is, how important is it to keep these coins in "excellent" condition? I'm in it for the weight of gold it self. Don't plan on selling until I retire from the military. Using gold and silver as a savings vehicle basically. I like the feel of the coin in my hand, my silver is in air-tites but I was wondering if the value of my gold would ever be negatively effected if keep them all together in a cloth bag. I have a crown royal bag I'm filling up. So I'm expecting the rubbing to eventually affect the surface. Am I crazy? Will I regret this?

Ryan

 

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As long as you are not paying a premium for nice stuff, I don't think this type of storage is likely to affect the value.

 

If the coins sell for a premium, you should keep them in premium condition if you want the possibility of recouping some of the premium upon sale. If you bought them at or near spot, then it shouldn't matter.

I would recommend getting a generic tube for the loose coins. You can still take them out to play with them, but they aren't lose in a bag where they can get dinged.

 

A tube is a nice idea, might end up going that route. Not paying too much premium. I have my eye on some of the Queen Beast coins, those I would capsule because the design is so nice.

Thanks for the input.

 

Gold even the 22k or the .900 fine coins are pretty soft and they will mar the heck out of each other in a bag if jostled around. Also long as you don't mind getting melt or less when selling the coins I guess it's not really a big deal. I would just store anything that has any sort of numismatic premium of that you're really fond of separately. With all that being said though if you're storing the bag in a safety deposit box which infrequent viewings you'd probably minimize just how many contact marks end up occurring.

 

The bag is only handled a couple times a month, when I add to the stack. A tube is sounding like a better idea the more I think about it.

 

If I had the choice between a worn/beat up gold coin, and one in good condition, I would pick the one in good condition every time. Wouldn't you?

 

If the gold you are talking about is the stuff in your avatar, you have several items that are in capsules. You don't want the plastic to become scuffed up from the other stuff you are storing it with. Limiting the jumbling of everything will help keep the coins and the plastic in better shape.

I use tubes for everything except common circulated silver which just goes into a bin. If you are expecting your stash to grow over the yeas, get a couple tubes in different sizes to accommodate the different sized coins and the plastic Perth capsules. You will eventually fill them up. If you like the bag, you can just put the tubes in the bag

 

Why don't you put the gold in air tites and then store then in the bag? That way you still have the "treasure bag" feel every time you open it, but at least the coins are safe.

 

I agree, a coin in good condition is more desirable, the treasure bag feel is what I like. Call me silly, but its cool to me. I think capsules in the bag would do me just fine as well. I have a separate bag full of 90% silver that isn't in great condition, mostly stuff passed on from my grandfather. So I was aiming for a bag of silver and a bag of gold.

 

Protecting them seems like a good idea, but a treasure bag of gold seems like a cool idea. If I had to do one or the other, I choose cool over a good idea any day.

But yea, protect the gold if it's not just a bunch of generic scrap.

 

If you want a bag of loose gold coins, you could start a collection of common date circulated gold coins from around the world. Many old European and Mexican gold coins can be had for low premiums and have been around the block a few times so condition may not be a priority for modern investors. Common date pre 1933 US gold is also an option, but premiums on the smaller sizes tend to be high.

 

I like your suggestion the most, I think a bag of old sovereigns and pre 1933 would be pretty cool. Maybe even some roosters in there that a bit dinged up too.

 

I like your idea, which is why I put a bunch of my old gold in a roll, to see and hold it all together. I wouldn't want to put them in a bag though, as I don't want to get them dinged up.

 

wow, that is a nice collection. what is in the tube? a mixture or all the same coin?

 

I'm with you @Kirkuleez , I think the joy you get from a bag of gold outweighs the value of being careful with the material you are dealing with. I understand that people collect American gold Eagles and the Queen’s beast coins, but they are essentially gold bullion. As long as you are not paying a premium for high grade examples of these, I just don’t think you are going to hurt their value much by keeping them together in a bag.

Maybe it’s just my prejudices showing through, but I don’t understand the collector mindset applied to bullion, meaning the huge importance of condition to price. I like AGEs because they are easily recognized as quality, highly liquid, and legal tender (unlike Krugerrands). I’m willing to pay the slight premium for these over gold bars because of those factors. I think there are plenty of other people buying these for similar reasons, who really would not take condition into account. Store them however you want, they are essentially gold bullion and will be worth just about the same regardless of if you store them in a bag or a tube. As long as you don’t intentionally mangle and seriously mess them up, it just won’t matter.

 

All are 1911 $2 1/2 Indians

 

A tube of 50?

 

I've wanted to get some Indians for a while, do you have any of the $5 as well? I cant seem to find the $5 with out a hefty premium.

 

It's a strange side of collecting to me, but there's a premium for MS-69 or better. You wouldn't want to destroy any condition premium, but anything 68 or less would be bullion. You could store them comfortably in a treasure sack.