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<p>[QUOTE=&quot;johnmilton, post: 4651859, member: 101855&quot;][USER=113847]@Steve Lupo[/USER], you have raised some interesting questions. I have been collecting U.S. gold since I was in high school in the 1960s. Today I have fair number of better pieces, mostly in early gold (pre 1834) and in Charlotte and Dahlonega (southern mint) coinage. I also have a lot of common dates as type coins.</p><p><br /></p><p>With that background, I will give you some advice and opinions.</p><p><br /></p><p>#1. Gold values and inflation.</p><p><br /></p><p>This is a tough one. There will always be demand for gold bullion. Collector coins might be another story. It seems like many people of your generation are not that interested in collectables. Part of it is a change in tastes, and part of it is due to the fact that many of them have college degrees that have not materialized into careers. Many of them have a mountain of college debt. I am hoping that more of the younger people will get interested in this hobby, but given the attitudes some of them seem to have toward history, I’m not so sure.&nbsp; </p><p><br /></p><p>#2. What grades to buy.</p><p><br /></p><p>I have always had the philosophy that I should buy the best grades that I could afford within reason. Therefore, I have purchased the common dates in MS-64 and 65. I have bought a few coins in MS-66 and 67. Most of those purchase have been in recent years, and so far, they have not been great investments. Still, who knows what will happen in the longer run? I would avoid paying huge premiums over market for those in any case.</p><p><br /></p><p>Just to show you what the &quot;close to the best&quot; can look like, here is an 1881 gold dollar in MS-67.</p><p><br /></p><p>[ATTACH=full]1148796[/ATTACH] [ATTACH=full]1148797[/ATTACH]</p><p><br /></p><p>A 1907 $5 gold in AU is always going to be pretty much of a bullion coin because there are many nice Mint State pieces out there. A series collector will never have much interest in that coin. To him or her, it will be a piece of gold, not a collector coin.</p><p><br /></p><p>#3. Buy the rare dates first.</p><p><br /></p><p>I agree with @jeffB. I think that is terrible advice, especially if you are going to collect truly rare gold coins. First, you need to know how to grade coins before you make huge investments. If you screw up on cheap coin, it’s not the end of the world. If you screw upon a rarity, you can lose a bundle of money.</p><p><br /></p><p>And don&#039;t think that the third party grading companies can save you from making mistakes. They can&#039;t, not even CAC. There are problem coins in certification holders that can be terrible buys at the wrong price. A lot of times the problem coins are not discounted the way they should be. Too many collectors read the number on the grading label and take it from there.</p><p><br /></p><p>Rare date gold coins are not like 1909-S-VDB Cents, 1916-D Mercury Dimes or even 1916 Standing Liberty Quarters. Those “rare coins” are frequently on the market. With truly scarce coins, sometimes you have to wait for years to get the chance to buy “the right coin.” Sometimes when the right piece is available, it’s in an auction and sells for a runaway price. Patience is a virtue in the truly rare coin field. You often have wait for your turn.</p><p><br /></p><p>#4. Did Pogue do well?</p><p><br /></p><p>I am quite sure that Pogue made out like a bandit. He almost always bought the best of the best, which translates to coins in high grades with great eye appeal.</p><p><br /></p><p>BUT, you have to remember. The Pogue sales had a lot of momentum behind them that collectors, such as I, would never have. The big players were all there, and some them viewed those coins as unique opportunities all in one place. (See my point #3.)</p><p><br /></p><p>The same was true for the Eric P. Newman sales, even though a lot of his coins were very nice, but not the best. Newman collected much the same I have. His coins were good, but not the very best. In his case, he had a huge reputation, and the prices were often strong. I tried buy some of his coins in those auctions but got blown out of the water. I did end up with a few ex Eric P. Newman coins on the secondary market, however. After seeing a couple of them in person, I decided that they were worth the money.</p><p><br /></p><p>For example, I bought this 1788 Massachusetts half cent in MS-64, Brown. You don&#039;t see these very often. BTW, this coin was in an NCG MS-65, Brown holder when it was sold in the Newman sales. So much for the grading game.</p><p><br /></p><p>[ATTACH=full]1148792[/ATTACH] [ATTACH=full]1148793[/ATTACH][/QUOTE]</p><p><br /></p>

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