Do you include generic gold in your type set?

dan1ecu

There’s been much discussion lately regarding the modern vs. classical issue. Many are of the opinion that it makes more sense to buy a rare, historically interesting classical coin for the money that some are spending on modern conditional rarities. Do you think that the same argument can be made when it comes to generic gold vs. classical coins? Gold prices are such that a “common date” double liberty in MS64 costs about $900-$1000 according the auction archives. For that kind of money, you could get, for example, an eye appealing, high-grade proof Indian cent that has a population in the hundreds (or less) as opposed to the thousands. You might even have some money left over after the purchase. Gold having increased in value lately, I’m not sorry I bought my gold coins, but they’re not anything special, if you know what I mean.

So, what’s your opinion?

Dan

kieferscoins

I stay away from the gold myself also and am working on a copper/nickel and silver type set with no gold. You make a good point about the prices, but holding a $20 gold piece is neat also.

Cameron Kiefer

tjkillian

I'm collecting a complete type set of U.S. Federal (and Confederate) coinage from 1793 -2003. Since gold coins are included in that, I collect them. They are cool. To make it more interesting, I'm putting together a year set from 1861 and most of my gold, (the ones that can be) are from that year. Yes, gold coins should be part of your type set.

Tom

KlectorKid

I include them in sets, they are rarer than you might think being in hundreds of thouands in mintage but after 2 huge melting periods many gold coins have very few pieces left, less that IHC's in some cases.

berylcoin

For me, working on a small budget, even though I enjoy gold coins the cost is simply too high to include them in my sets.

BC

mrfred

The only way I can have gold in my collection is as a 'type' -- no way I could afford more than one of any issue! Your price comparison to a high-grade IHC is very interesting. I'd never looked at it quite that way. Got me thinking, but then I'd have to find an extra $900

DesertLizard

Excellent question and great point.

I do collect generic gold for my type set, at least i used to.

To make my type set more interesting I now add branch mint gold which can be costly. However, I have started to also look at low pop AU Libs as well. I just picked up a pop 14/2 Lib $20 las t week for about $1,600. Not cheap but it is rare! IMHO, a great value compared to what moderns are fetching. I also believe the pops are inflated due to resumissions by 50%

nwcs

Right now, I have only 6 gold coins. All but one of them were bought more than a year ago because I wanted them. The 6th I bought last month for my type set but also to have a little more gold to my name. But I am not going to buy any more till I see what happens to the market. I'm focusing mainly on Morgans and cool, cheap coins. Not necessarily in that order.