$2.5 gold Indians-should I complete the set or sell some?
Ppp
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I just purchased back of greysheet almost (missing 1911d) a complete set of 14-$2.5 gold Indians 1908-1929. I successfully checked the raw coins with my sigma meter.
Three coins are graded au58 from ngc, one au58 from pci, and the remaining 10 coins are IMO xf to au. Note, I didn’t want to overload the post with a bunch of pictures, but did included the 1908 as a representative sample. Please note, the coin with the others are in a plastic case so I apologize for the quality, especially on the reverse.
I am torn do I buy a 1911d and have a complete set? and,
If I do, does it make sense to grade the remaining 10 and crossover the pci coins?
Or, do I sell maybe 11 coins make all my money back and keep the three ngc graded coins at zero cost?
I am curious what others would do in this situation.
Comments
They are up in value right now, so it would be a good time to sell if you have lost interest. I personally would buy an 11-d and hold onto the set though
Here is my answer. I've had this set for many years. The coins aren't really good enough to have graded.
If it were me, I'd probably get a Dansco album or similar and put them in. Or a capitol holder like Bill's. It would be eye catching, that is for sure!
You need to decide if you want to put another $4000 into it (AU55 11-D) or move on keeping the NGC coins. That is really a decision you need to make. Good luck as I have been working on this set for 4-5 years now but current market conditions have moved some out of reach for the time being.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Keep the best coin as a type coin and sell the rest. If the market for them is strong then this is a good time to sell. Don't wait for a downturn in interest.
Personally, I would have a hard time not searching for an '11 D.
When will you ever have a chance at completing a gold set ?
I suggest that you have an expert authenticator check your raw quarter eagles. There are lot of really good counterfeits in this series.
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I have a date set and I am satisfied with that. It consists of 13 coins. These things are expensive enough without the 1911-D. You could do that. As PerryHall says-counterfeits are a serious problem with these coins. That could be said for most US gold.
Buy a nice 11-D, thus completing the set. Then sell everything but the 11-D, keeping it as a memento of the complete set.
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The market on these is strong for these right now. I think unsustainably so. So I would definitely sell. And since you’re apparently on the fence, I think you should sell and buy something else you desperately want to own. As for getting them graded, I’d sell them as they are. In those grades, the cost of certification probably exceeds the value added.
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Why did you buy the coins in the first place? I suspect this will lead to your answer.
Messydesk: that is an interesting twist I didn’t think of and I like it. An 1911d would be a nice edition to my other scarce/rare coins.
thebeav: exactly
daltex: I bought the set because I am an idiot.🙂 I have been trying to reduce my collection but whenever I come across, what I consider, a good deal I buy it, thus my collection is continually growing. I think I may have a problem.
My oldest gold coin up to this point has been 1986 and I always wanted some older gold from a romantic historical perspective.
When buying these coins I knew I was going to be torn because I never expected to ever have a complete set (I don’t have a problem buying an 1911d) of a gold coin series, and if only the three graded coins were available I would have been satisfied.
I think I did proper due diligence in buying these coins to avoid fakes (your concerns are well noted) and I bought them from someone I had previous good dealings.
I just received an offer for $425-each for the 11 coins. What do you guys think?
Everyone thank you for your comments.
I would have a hard time parting with those coins. I like the Indians (prefer the $5).... Really nice - and unique - design. The offer seems reasonable (without seeing the coins). Your coins, your choice.... though I believe, if you sell, you will experience regrets soon after. Cheers, RickO
Ppp
If you can get $425 for raw xf $2.5 then it's a no brainier.
Keep the set and get a PCGS 11-D. Then send the raw pieces to PCGS.
I have been working on completing this set, but I am doing it without the 1911-D. In the PCGS registry, you have the option of completing this set without the 1911-D. It is always a trade-off between the AMOUNT of gold I am getting and the NUMISMATIC value I am getting. I usually land somewhere in the middle on most of my purchases.
If you choose to get an 11-D, you are looking at spending around $4000 for a decent slabbed example. Would you rather have that or use that same $4000 to buy several very respectable pre-1933 gold coins with many times the weight in gold while still having a measure of numismatic value?
If you were set on a purchase that is more numismatic, why not go for a Dahlonega or Charlotte coin and begin a nice branch mint registry set? IMHO, there is much more numismatic and historical value to a nice quarter eagle or half eagle from either of these defunct mints than from a DENVER minted coin.
Just my two cents
-Sean
I agree @stownsin
The 11-D is a strange coin to me. There are almost 3000 graded AU55 and up and it's a $4000+ coin. I don't know where NGC is but if there are another 3000 there it makes no sense to pay that much money for a coin that has 6000 out there.
There are some $5's, $10's and $20's with less than 1000 for less money. There are Classic Head with less than 5-75 for that money.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
There are some $5's, $10's and $20's with less than 1000 for less money. There are Classic Head with less than 5-75 for that money.
The $2.50 Indian gold set is the only "old gold" set that most collectors can hope to complete. Just about everything else has a super expensive rarity coin that stops most collectors cold. I am talking about coins with prices well into the 5 figures.
The 1911-D is expensive compared to its rarity, but it's still affordable, and it's the only piece that is really expensive in the set.
The only alternative I would offer is the Type 1 gold dollar. I completed that set, but there are some EF-45 graded coins in my set, and, of course, the coins are very small, which turns a lot of collectors off.
Just a thought that I have not seen, you could fill that 11-D with a nice counterfeit. There are almost as many genuine 1911's that have been made into 11-D's as real 11-D's, as long as you know its not real and pay accordingly you would have a complete (ish) set. May not be the best option or one for you but a very cost effective one for some collectors who even if they can may not want to drop 4K on a real example.
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Tough call - I'de keep what you have then complete the set with the 11-D whenever you feel comfortable to spend that much. A complete set may be more desirable to sell but to a smaller number of collectors.........
"When they can't find anything wrong with you, they create it!"
If you are thinking about selling then that is what you likely will do.
$2 1/2's have come up a lot in the last two years. Grade the good ones, sell the lot. 1911-D is much like the 1907 $20 HR - expensive and easily acquired.
Just get the raw ones graded by Pcgs then decide. All raw $2.50 sets offered to me at shows over last 30 yr had fakes in them and of course the collector offering swore they were real lol. Some them in your raw set look fake to me.
I'm in the boat of finishing the set. It's an expensive last piece, but why not go out with a bang?
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OP only posted a single coin. Are you referring to @BillJones set?
Nothing is as expensive as free money.
Yes, I would like to know that. The photos are not large enough to show that.
Would care to tell me which ones are fakes? I have individual photos of all of them. I bought the last piece on that set before 1990. Where there fakes then? Sure. I think they are all real, but perhaps you know better.
Here is a group picture of the 11 I am considering to sell.
The raw coins all weighed correctly, were not magnetic and passed on my sigma meter as 90% gold, plus the detail of each coin appears correct to me. Based on this information I am extremely confident 10 of my coins are real. I could not test the three I have in ngc holders and the one in the pci holder. The ngc holders numbers were verified and detail looked correct but I could not verify the pci number.
Again, if I sell these 11 I would keep the three ngc coins. I am thinking of cracking out (in all my years of collecting I have never cracked a coin out of a holder) the coin in the pci holder, run the proper diagnostics and if good place it in the capital group holder.
I apologize for the poor pictures.
Everyone thank you for the excellent comments and opinions. 🙂