I've noticed that common one ounce American Gold Eagles frequently sell for approximately the same price at many dealers as common date $20 Liberties in about VF condition. One-half ounce AGEs frequently sell for about the same as common date $10 VF Liberties. This approximate relationship seems to hold up for many years if you glance through some old Redbooks. I know they don't contain the same amount of gold, but is this considered a "normal" or correct valuation? For the same price, which would you prefer? Would VF Liberties make a decent bullion-type investment alternative to AGEs? Thanks in advance.
The liberties have slightly less gold content but their numismatic value added to their bullion value tends to make them worth about the same, for the more common dates. I expect they'd be a decent investment. Money being no object, I'd prefer the coins over the gold eagles I think, not for sake of investment, but I just think the liberties are more aesthetically pleasing.
Two years ago I was close to starting a collection of a few $10 liberties in VF condition. I wanted a few gold coins but didn't necessarily want bullion coins or coins priced well above bullion value. But when I spoke to two local dealers about it, they both told me it was a bad idea so I abandoned the idea and moved on to other things. I was influenced by their greater level of expertise. One pushed MS63-64 Saints graded by TPGs. The other preferred proof AGE coins in the mint packaging. I didn't buy either, partly out of confusion about what to do. Lately I was thinking I was on the right track back then and might go back to it. I might start by looking for one VF $20 and one VF $10 liberty that looks good at a bullion coin price. I'm not a huge fan of uncirculated coins and can be just as happy owning something old and historical where the gold content determines much of the value. If anyone thinks this is a bad idea, let me know so I don't start; and let me know why.
Cloudsweeper99, I think your idea is great! If you like the Liberties better, go that route. Now, if it was me, I'd take a look around and check out EF and AU coins as well. For common coins, there's often not a ton of price difference...just see what you can find. They may be a bit more, but you might get a lot nicer coins too. Great move though.
