So, I've got a question about gold prices here. I've read somewhere on here that gold (and I'm guessing silver, too) will probably settle down a bit after the the "Holiday Season" (sometime around Jan. or Feb. I'm guessing). I only have one gold coin in my collection - a 1945 2 Peso restrike from Mexico. I would like to purchase either a 2 1/2 Peso and a 5 Peso coin for my collection (I should be able to get both for around $150), or an Indian Head Quarter Eagle, which I think I could probably find for around the same price. Bullion-wise, I get more bang for the buck with the Mexican coins, as they go for just over their 'melt' value (no real numismatic premium), but with the Indian Head, I'll get the gold and a beautiful coin with numismatic value. I'm still not sure what I will go for, but the real issue is that I don't have $150 to plop down on some gold. What I DO have, though, are some coins which I can sell for the money. They are: - 1909 S Lincoln cent. VF details, corroded, red patina (possibly PVC damage). - 1924 D Lincoln cent, VF. - 1924 D Lincoln cent, F. - 1950 D Jefferson nickel, very nice AU slider. My question is thus two-fold. The first part is, what do you think the overall value of these coins are? Except for the 1909 S, they all have very nice eye-appeal, no scratches or gouges, and even color. Are they "enough" to buy some gold, or rather the gold I want? The second part of the question is, if you think they will bring me enough money, should I sell them now (there's a coin show coming up in the next few weeks), or wait until the price of gold comes down? I ask because the price of gold and silver seems to influence the pricing of other, non-gold and non-silver coins, and thus it might be better to sell now while gold is up since I might get more for these coins now as opposed to when gold "settles down." Sorry this is kind of a long post. Your input is most appreciated! :hail:
Something to remember, the foreign gold may be cheaper now, but it will also sell for cheaper when you go to sell it. I personally prefer colombian gold for personal reasons, but fully realize the American Eagles will sell for slightly more (ounce for ounce).
Yeah, I think in the end I'll shoot for the Indian Head Quarter Eagle. Gotta love that incuse design. I'll try to post some pics tomorrow of the coins I'd like to sell. Then I can get some grading opinions.
Buy what you want and like the most, and price be damned. In the long run, most collectors would agree. To purchase predicated on future value is a sure way to disappoint yourself. All IMHO...Mike
This is a guess. You might get $150 for the coins you sell if they have great eye-appeal, but I suspect you might come up a bit short and have to add cash. I don't think you'll get a quarter eagle indian for it. As for waiting, I don't see any reason why gold will necessarily come down, so if you want gold, just buy it whenever you have the money in your pocket and the coin you want in front of you.
You could get a fairly nice Edwardian half sovereign for 90-100 dollars, depending on melt, if you shop around.
Thanks for the responses, guys! If I can afford a $2.50 Indian after selling all these at an upcoming show, I'll go for it. Otherwise, I'll be purchasing some world gold.
In the early 1500's, King Ferdinand of Spain laid down the priorities as his conquistadors set out for the New World. "Get gold," he told them, "Humanely if possible, but at all costs, get gold."
