Where best place to buy old gold coins ($10/$20 coins etc.)

richg1000

Hi All - I am a very novice, fairly uneducated but still lover of old coins (primarily U.S.). I'm interested in buying some old gold coins ($10/$20 pieces, etc.)

Where/How would you all recommend I go about this? Do you all buy and sell here in the Forum?

PeakRarities

Are you looking to buy coins with collectible value, or stack gold bullion with some history? What is your goal?

streeter

There are probably at least 20 places around the country (and coin shows) besides your local shops(if any). Learn the traps out there before you spend a dime. Much to learn.

dhikewhitney

1. Since you wrote you are a novice, the best place to find old gold coins is in a book, preferably a free book.
2. A novice does better buyingPCGS/NGC graded coins can be found on Ebay, local coin shops, internet dealer sites, and at coin shows.
3. Cost is an issue, and it’s corollary, value. While not the same as a car purchase, one usually loses value immediately after the purchase until time raises either the price of gold bullion or the numismatic value.
4. For a novice, I recommend going to a coin shop or show and lost as many coins as the dealer(s) allow. Do not buy any coins the first time, perhaps not even the second time.

richg1000

Hi DD - good questions, and I would say collectible value. Thank you for putting that Q on my radar for something to think about.

richg1000

Do you all do any transactions on this forum? I was a big comic book collector and our forum was a great place to buy and sell. Both sides benefitted with good pricing.

pcgscacgold

@richg1000 said:
Do you all do any transactions on this forum? I was a big comic book collector and our forum was a great place to buy and sell. Both sides benefitted with good pricing.

Visit the Buy/Sell/Trade part of the forum for that. Best of luck. The $10's and $20's are fun to collect. With gold where it is now they are expensive but the larger size is easier to see.

ricko

@richg1000....Welcome aboard. The BST (Buy, Sell, Trade) forum here is a good resource. If you are looking for collectibles, I recommend sticking to slabbed coins. A bit of premium involved, but you know it is authentic. One caution, slabs also can be faked, so stick with reputable dealers... If it looks to good to be true, it probably isn't true. If stacking bullion, be careful, but there are good people here and vouches can be obtained. Cheers, RickO

mark_dak

@richg1000 said:
Do you all do any transactions on this forum? I was a big comic book collector and our forum was a great place to buy and sell. Both sides benefitted with good pricing.

Welcome to the forum. As stated above there is a Buy, Sell & Trade - US Coins link to the right on your screen. I like to buy raw US pre-1933 gold but there are some caveats to that if you have little or no experience due to pretty "good" counterfeits on the open market(Must be aware but the reality is the warnings are somewhat over-stated) I've bought lots of these pieces but am fairly confident in my ability to weed out fakes.

Depending on your location, I find pre-1933 locally at coin shops and shows in the Detroit area for melt +$50 or less. (premium less on common dates, more on rarer or better than EF quality coins) If you don't have local shops or shows in your area, the Buy,Sell, Trade link may be an option. Expect to pay much higher premiums for third party graded material... and at the current price of gold. Also do not expect to pay more than the premium I mention on common pieces on the BST link as well... you will have to pony up a higher premium there as well.

Do lots of reading on counterfeits and look at examples - don't be in a rush to purchase. There are a number of good books on the subject as well... the cost of a few good books and time researching is a cheap tuition to pay... beats the cost of a mistaken buy. Good luck.

Mark

richg1000

This is my collection of Golds so far...a whopping 2! I bought the Coronet years ago from Stack's in NYC; I forgot how/where I got the $20 piece. Any thoughts on value? I assume it would be a good idea to get these reputably g




raded/slabbed?

Che_Grapes

If you want bullion coins you can buy those at places like providentmetals.com or golddealer.com (CNI in LA - good guys) but for collectible / numismatic proof gold coins - moderns can be purchased from the us mint website.
So it depends if it’s to hold gold as investment or to collect gold coins as a hobby.

pcgscacgold

I really like that $285 price tag on the $10 Lib. Wish I was a coin collector back then.

ms71

Your $10 has something around $875+ of pure gold content at today's price, and the $20 has twice as much. Do a good amount of learning, and stick with coins certified by the top-tier grading companies. Buying raw (uncertified) gold is a very risky approach, more so by the day given all the counterfeit gold coins turning up. We don't want to scare you off, but there are even pretty deceptive counterfeit holders holding counterfeit coins in the market as well. You'll see images of those here on the forum from time to time, so pay attention. Stick with a reputable dealer as well.

mark_dak

@ms71 said:
Your $10 has something around $875+ of pure gold content at today's price, and the $20 has twice as much. Do a good amount of learning, and stick with coins certified by the top-tier grading companies. Buying raw (uncertified) gold is a very risky approach, more so by the day given all the counterfeit gold coins turning up. We don't want to scare you off, but there are even pretty deceptive counterfeit holders holding counterfeit coins in the market as well. You'll see images of those here on the forum from time to time, so pay attention. Stick with a reputable dealer as well.

I agree with the last line for sure. I do not agree that you must purchase slabbed coins only... the comment actually makes the case since these creeps are even making fake holders. Don't go on eBay and try to purchase raw pre-1933 gold. Lousy pictures or getting a coin that wasn't even the same as you saw is not uncommon.

Beyond that you will find plenty of non-counterfeit gold, both raw and holdered, at fair prices. Most of my gold was bought at gold closer to $1000 to $1100. Current prices make things a little harder to stay above water. Again, the fear of counterfeit gold is way over-stated. Find a reputable dealer or dealers in your area and stick with them. JMHO

Mark

lkenefic

Welcome to the Forum! There's much to learn if you're serious about collecting pre-1933 gold. I had been on this website for quite some time before buying my first real gold... a $5 Liberty Head in a PCGS AU58 holder from a reputable dealer. It was probably another year before I felt I had looked and learned enough to buy raw gold... a $2.5 Indian... that ultimately ended up in a PCGS AU58 holder.

Go slow, and have fun...

PerryHall

Your question is like asking a fisherman where the best places are to catch fish.

DollarAfterDollar

My suggestion would be to buy gold in a local coin auction. Typically they will have a handful that sell at bullion. Often counterfeits are placed in these auctions because the owners never knew that a coin was faked in some way but as a rule they sell for bullion value unless they are encapsulated.

slider23

I would recommend buying PCGS or NGC slabbed gold coins from the major auction houses like Heritage, Stacks or Great Collections. Before you make your first bid, you need to be able to determine value on a coin. Start with learning what are auction realized prices and how to find them. Set a budget and a collection plan and you will do fine once you learn to not go down any rabbit holes chasing coins over their value.