Do you buy Bullion or Numismatic Gold Coins and why?

I know there's collectors on this forum who are very smart buyers and hoarders of Gold coins. Do you buy bullion or do you have another strategy when buying gold coins, pre-1933? Do you buy on the bay and if you don't, why not? Just starting this thread to talk about gold as the price has been over $1450 an ounce for quite awhile. Anyone buying? Holding? Selling? Educating others?

 

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I been buying pre-33 gold a long time. I also purchase bullion gold when it is available and the price is right. My preference is pre-33 gold. It holds the aura of history (important to me). More importantly, I believe it is undervalued. High grade examples trade near spot price and I don’t think that will go on forever. Sooner or later there will be more numismatic value placed on pre-33 gold. It won’t be as dramatic as numismatic silver, but I do believe there is unrealized value ahead for pre-33.

 

All this except I’m broke and don’t buy gold. Pre-33 over bullion any day. Unless it’s historic bullion.

 

I like all Gold coins and will not refuse them if given to me

Two trains of thought, Pre-33 Gold mostly collectors, Kruggers, Eagles,
Queens beast, Maples, mostly investors.

 

Yes, I agree with everything you're saying about pre-33 gold coins as that's my preference as well! Up to $1513 today! I can only guess the protests in Hong Kong is giving the POG legs, but you never know. Either way, it feels good to me.

 

The only gold I buy is recent Canadian Maple Leaf 1oz with the "Bullion DNA" - which is a microscopic security feature on the coin itself - gives me a sense of security to know that if I need to sell it, there likely won't be questions about counterfeiting. If the x ever hits the fan, I think counterfeits will be in abundance and I want to avoid that.

But I'm very tempted to buy some of that pre-33 historic gold in smaller denominations. I love the history of it and the idea of it. I'm just fearful of not being able to sell it if I ever need to.

 

There always seems to be an opportunity for "dealing", although the opportunities have been reduced recently. Over my >half-century of "collecting", the target has always been paying a fair price for a fair product will generally result in success.

The coins have changed over the years as intelligent buyers located the "sweet spot", and closed same. Until recently quality certified Double Eagles could be acquired at a "fair price", but now I'm finding "market graded" less desirable product. The technically graded product can be sold for a price above "price guides".

I tried initially buying bullion coins, but found that recovering cost was difficult unless one waited for a market advance beyond acquisition price. If one learned to determine what others would want/need in the future, pre-1933 Gold or pre-1965 Silver coins could generally always be sold at a premium to cost.

My Gold buy for this week was a PCGS PQ 1914S MS64+ Double Eagle cash purchase from a dealer that had held it longer than desired. My experience has been that these "sight seen" extraordinary Gold coins will usually garner a "green bean" when submitted to CAC. The resale value is generally advanced Gem grade pricing with the "bean".

My deal for the day was 5 rolls of mint state various date Peace dollars off of Craigslist for cash, where we both traveled ~2 hours for a "fair deal".

Since the Supreme Court opinion on sales tax collection, I no longer buy PM material on eBay, as it's expected that they will be required to submit a list (i.e. of those who haven't filed their sales tax exemption form supplied by eBay) to the appropriate State Dept. Of Revenue for tax and penalty collection.

There are many opportunities for an educated open-minded individual.

JMHO

 

Yep, very good point! Ebay is not that great of a place to buy gold coins anyways. The only thing good about ebay is they have more of a selection than my LCS.

 

I spent ten (10) years putting together my MS70/PF70 First Spouse collection. I overpaid 25% for gold bullion, but received very limited U.S. Mint .9999 gold coins that carry the "numismatic" legal distinction.

$1500/oz gold is about my break-even point...bullion-wise. Any numismatic appreciation is gravy!

 

Pre-1933 typeset only. Haven't added to it in about a year. Once it is complete then that'll be it for buying gold (unless the price goes to $0.05 or less - lol). Any bullion I have (AGE's, Krugerrands) was handed down.

 

I love them all, matter of fact if you have a gold tooth I want it as well.

 

Can you offer advice as to where you can get high grade pre-33 gold coins near spot price?

 

I have bought several here on CT in just the last few months.

Edit.. Dang CC... You had me worrying about my statement. I frequently have to question my memory these days..... So I dug out my receipts. The last four years I have bought a number of half and double eagles at current spot. Granted some were a very tiny bit over spot. Most from my dealer. I also have a buddy with a “we buy gold” sort of shop. Twice here on CT and once from a jeweler...... Pre-33 gold at spot levels ain’t uncommon at all.

 

Raw or slabbed?

Thanks for taking the time to answer!

 

Most are raw. The gold I bought at spot on the CT forum has been slabbed.... And in all fairness I have bought some one dollar and two and a half dollar gold and that does carry a numismatic premium.

 

Thanks! I've yet to have the confidence to buy raw from dealers I've met, thus I haven't asked for prices on the raw stuff. They are asking for at least 10-20% premium on the slabbed stuff.

 

Get to know them. Show up at lunch one day with a few sandwiches and sit and chew the fat. Coin dealers have to be stand offish. They are prime targets for the low life’s of the world. Once you break the ice and become more than just another costumer then he will see you as a buddy. Somebody he wants to give his best deals to.... It took me six months to get my dealer buddy to warm up to me. Now I sit behind his counter with him and fondle all his coins at will. We email each other all the time about wife problems, our dogs and air conditioner repairmen.... Seriously, make it a mission to make him your buddy. Then see how the prices change.

 

Absolutely true! It used to be hard for me to get a deal on gold, not anymore now that I am trusted!

 

There,s allot of competition out there, so everybody is offering great deals

 

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"Can you offer advice as to where you can get high grade pre-33 gold coins near spot price? "

I was going to suggest "in the recent past", where you posted your experiences first. I've acquired numerous certified mint state extraordinary quality (e.g. PQ, CAC, MS+, etc.) Double Eagles at prices appreciably less than prices found today.

I would also suggest watching Craigslist offerings, as over many years I've had my best experiences in that venue, when using "common sense" caution.

I'm culling duplicates, and about to list raw and certified Gold EF-MS61 Gold Eagles at prices from spot to spot + 8.7%, where people travel from state to state purchasing these "deals" in protected locations.

There are many possibilities for motivated individuals.

JMHO