Questions About $5 Gold Eagle

Discussion in 'Bullion Investing' started by diburning, Jan 31, 2020.

  1. diburning

    diburning Member

    I have the opportunity to buy a $5 Gold Eagle (1/10oz) at spot price. I have a few questions.

    1. Is this a good time to be buying gold?
    2. Is this a rampantly counterfeited bullion coin?
    3. If so, what should I look for to verify its authenticity? (I’m assuming that I’m going to be getting a raw coin)
     
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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    The good time to buy gold is when you have the extra cash to support the expense. Nobody can predict what tomorrow or next year may bring. Gold has been on a fairly steady rise for a while now. I believe we are somewhere around $1580.00 per ounce. One year ago it was close to $1300.00 an ounce. It is anybody's guess where it may be in the future. I am of a mind though that anytime you can purchase gold at spot, then it's a good purchase.... As far as counterfeits, heck it seems the Chinese will counterfeit most anything. However myself, I have not see much chatter about gold bullion being faked.
     
    GoldFinger1969 and JCKTJK like this.
  4. JCKTJK

    JCKTJK Active Member

    Keep in mind there is usually a higher premium on fractional gold and silver, you will have to do the math to see if it is worth it you or not.
     
  5. J.T. Parker

    J.T. Parker Well-Known Member

    IMO If you are 'joneses' to buy gold at this time it might be wise to purchase a coin
    with not only bullion value but with numismatic value as well.
    J.T.
     
    GoldFinger1969 likes this.
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Assuming ungraded, can you trust the seller ?
     
  7. -jeffB

    -jeffB Greshams LEO Supporter

    And since this is true, getting a 1/10 ounce piece at melt is actually quite a good deal, because it's not hard to sell it above melt. JM Bullion is offering to buy them at $163.86, $5 ($50/oz) above melt. (Of course, they have minimum purchase thresholds, so you can't just sell them one fractional AGE.)

    To buy one from them, you'd pay $183.70 credit/PayPal, $176.35 eCheck/wire. To get one from a local shop, you'd probably pay more than that.
     
    JCKTJK likes this.
  8. Santinidollar

    Santinidollar Supporter! Supporter

    I’m not sure what you’re buying. Do you mean a classic $5 gold half eagle, or a modern American Gold Eagle bullion coin?
     
  9. mikenoodle

    mikenoodle The Village Idiot Supporter

    the OP was clear: 1/10th oz $5 gold = 1/10oz Gold American Eagle
     
    -jeffB and Kentucky like this.
  10. Kentucky

    Kentucky Supporter! Supporter

    Saw an advertisement in the LA Times for some such. If it is like one I did a year or so ago, they have a minimum purchase of 10, and then on the telephone hype you about their graded gold coins that are "a much better deal". If you hold firm though, you can probably get the coins. What outfit is it?
     
    GoldFinger1969 and -jeffB like this.
  11. Santinidollar

    Santinidollar Supporter! Supporter

    Age is taking its toll.
     
    Randy Abercrombie and Kentucky like this.
  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Every thing has been on an upward trend as of late, if your buying a small portion
    getting on and off the train isnt going to cost you one way or another, it also
    depends on what your goals are as well.
     
  13. diburning

    diburning Member

    Ok, I just took the plunge! Bought at $158.70, spot is $158.92 right now. The place is Eastern Numismatics in Garden City, NY. Their reviews aren't too bad, so I think it's worth a shot.
     
    GoldFinger1969 likes this.
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