I am a Morgan Collector and want to add a gold coin series. Would like advice
Rondor
Posts: 116 ✭✭✭
My per coin budget would max at around $3000.
What would be suggestions you would have for me?
Quarter, Half, Eagles and Dbl Eagle are obvious possibilities but what am I missing?
Thanks very kindly.
1
Comments
Your per coin budget is $3,000 each, but what is the total sum you are willing to invest? Also, do you want to finish the set and, if so, what timeframe are you looking at? Lastly, are you interested in circulated coinage, mint state pieces or a mix?
In honor of the memory of Cpl. Michael E. Thompson
As someone who was recently in a similar boat... I was a Walker guy and then started playing with Gold..
The most affordable and easy set to finish is the 2.5$ Indian Set... I believe the set is a GREAT place to cut your teeth. MS Gold is different. Contact marks that would not be graded on a Walker are graded on MS gold. Gold is so much softer so it is just different to analyze.
The MS 63 2.5$ Indian Set is a GREAT set to build.
Past that almost every set has stoppers... Build a denomination and mintmark typeset is a lot of fun.
Whatever you build enjoy it. Gold has had such a romantic foundation in the building of the USA
J
Great questions I should have answered.
Hope that helps. Definitely, I am a investor/collector in about a 60/40 ratio.
Thanks
I was looking at those. I love all the Indian motifs, no doubt!
Sounds like something Doug Winter would help with - https://raregoldcoins.com/blog/2021/4/14/the-newbies-lament-what-should-i-collect
He has some solid advice for starting a gold collection.
Pacific Northwest Numismatic Association
Many thanks for that reference!
I would start a nice basic type set and then you can either work on expanding types, upgrading coins, or building out a series if one of the coins particularly speaks to you.
https://www.pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/199
chopmarkedtradedollars.com
That is a good article, but the key takeaway is:
One piece of advice I can give to both date collectors and “randomists” is buy quality over quantity. If you are buying $1,500 coins once a month, consider buying a $3,000 coin every two months. You’ll have fewer coins, but they will be nicer and more interesting.
This assumes one knows quality when one sees it. Of course, this applies to all of numismatics, not just gold. I think a collector will be rewarded when patience is practiced.
"Got a flaming heart, can't get my fill"
Classic Head Gold 1834-1839. The series is not long and can be completed, both $2.50 and $5.00. Great new book on CHG also.
This is a nice way to learn about each series as well
Don’t forget gold dollars.
I don't really understand these threads. Would someone actually undertake collecting something that they didn't have organic interest in pursuing?
Depends on the challenge that you want to take on. How about a $5 gold mint set. By this I mean a coin from every US mint. Gold coins are the only denominations that were minted at all US mints.
A 12 piece gold type set is a neat set to pursue. Once completed, you can add the sub-types (no motto and with motto) and the two Classic Head gold coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Gold coins are a favorite of mine. I just like the feel and color, plus the nice designs. I stacked years ago, and also collected some.... Not a set, just gold coins that appealed to me. Still have them all... Well, except for two sets of Britannia's that I sold when gold was at $2K/t.oz.. Cheers, RickO
I have interest in pursuing gold. I have my favorites but being less experienced than many on this forum I wanted advice.
It's pretty easy to understand.
I like these in gem, they are super pretty:
Now that is a true beauty!
As stated above, $5 liberty mint set (one each from all 7 "classic" mints) 12 piece type set. Either set can be completed at less than $3000 per coin, most of them at much less depending on the condition you are willing to accept.
Once you dip you toe watch out, it can be addictive!
it's crackers to slip a rozzer the dropsy in snide
I am thinking of two possibilities now and may do both.
Complete the best CAC'd (or CAC'able IMO) of the 12 pc type set within my 3000 max.
Collect the very finest quality MS65 or better CACs in quarters and halves that I can buy at current $3000 or less. I may have to reach to get a few but can't really reach too far. maybe +1000.
I wont buy any coin with dark spots. For me it kills the coin.
I'm a Morgan/Peace collector, have been for many years.
I recently started collecting gold for their beauty and value.
My interest in that area is world/foreign coins (dark side coinage). There are so many more interesting designs, history, and better prices in foreign gold. JMHO.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
I see your point and agree on the variety and values. However, the business side of me doesn't like trading thinner markets.
I am a Morgan collector that has completed the 12 coin gold type set and a Indian $2.50 set. I really enjoyed collecting the type set. There is a learning curve on grading going form large silver coins to gold. CAC for the most part will keep you out of trouble, but you are going to pay for the sticker.
As others have said, the 12 coin set is a great way to dip your toes in the rivers of gold. The half eagle is an excellent coin to build a "mint" set with. And by series, the Indian Head $2.50 is the most completable by date and mint. Coincidentally I started making books for the Indian Head gold coins...
Custom album maker and numismatic photographer.
Need a personalized album made? Design it on the website below and I'll build it for you.
https://www.donahuenumismatics.com/.
As a Morgan guy, I have learned that the sticker is generally money well spent. I still seek lustrous, spot free coins that jump out at me regardless of anything.
May I say that the community is very helpful and I really appreciate it.
TYPE SET and you can expand it as you see fit.
After you buy a few of the little Indians, you may get bored.
A complete nice type set is in another world compared to trying to work your way through all the counterfeit au Indians.
That is why I will buy beautiful CAC'd coins and sleep better. The market in CAC's is very solid and I expect it will stay that way
I’m a “randomist”. I collect mostly pre 1870 AU/PCGS/CAC gold in all the different denominations preferably dates that have lower survival populations. I have no intentions of ever trying to build a set. There’s no right or wrong way to collect gold. Have fun whatever way you decide to collect.
Look at the Pre-33 US Gold coin designs and collect your favorite. For me that was the $2.50 Indian Gold. I really enjoyed completing the set (AU58-MS61) with the 11-D of course being the most expensive at that grade around $5000.
Buy what you like. If you like $2 1/2 Indians buy those, but the 11-D will be more than $3K if you want it to look sort of like the rest of the set. If you like a type set, put one of those together. Another option is a $5 Liberty Mint Mark set. Charlotte and Dahlonega would be XFish for $3K.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I understand the question. I do not understand the psychology of it. I collect because the things i but interest me. Especially if someone wants to commit to a series which could be a long, expensive endeavor, you have to like the coin series.
But it seems like you just need a checklist to fill. Someone who likes $20 Saints may not like classic QEs. Even if you just like gold, why a series? You can collect random gold coins from around the world. A nice collection of gold coins with birds, maybe.
Not that there's anything wrong with it. Collectors do just like to collect. But most collectors I know are driven by an internal passion not external advice.
Be careful. The rabbit hole runs deep. I've spent far more on gold than I've ever planned. And I still want to add to my collection.
Throw a coin enough times, and suppose one day it lands on its edge.
I had the same issue in the past going from one set to the next. I ended up selecting the 20th Century liberty quarter eagle set graded in MS65/66, most with CAC. No really expensive pieces and I could be picky. Now I am slowly working on the 20th Century double eagle set. Your budget would allow you to get in the MS62-64 grades if you spaced out purchases.
I understand how you feel and everyone collects coins for their own reasons. I love most of the coins I buy, however, they are also savings/investing vehicles for me so having a strategy is likely better than a random collection. There is a ton of wise literature on this point.
In the end, I think there are very few who do it only for the money. Some don't care at all about the $$. Both ways are great.
I love a rabbit hole. My wife isn't so sure about them ;-)
Gold sovereigns. I like a type set since it’s not the same coin design over and over.
Or find a beautiful coin design - make your investment dollars go farther - more coins and less expensive stickers.
You can enjoy building a nice raw AU-BU date set for a fraction of the cost of their holdered versions.
.