Opinion on Gold Coins

dollardude

I was curious about what everyone thinks about gold coins. When I was at the large Chattanooga, TN show last weekend, there seemed to be very little interest in gold. When I go to coin shops, I see very little gold for sale. However, PCGS recently posted an article at Finest Known 1884 Trade Dollar on Auction Block; Demand for Gold Coins Soars saying that demand for "physical certified gold" was close to "an all time high." They also have two other articles below this one that talk about how hot gold coins are. Any opinions?

Placid

I like them.

Mikey

The proof American Eagle gold coins have been a royal dissappointment.

jjroll

Me 2. Gold is all I collect, expensive hobby but love it just the same.

dollardude

I know a lot of folks like gold coins, but maybe they just aren't as outspoken as us silver coin collectors. I collect mainly silver dollars, but also some silver halves, quarters, etc. I just don't see a lot of postings here on gold coins, nor do I see many gold coin buyers at shows or coin shops.

fountainheadgold

I collect mainly gold coins, your right they do not get talked about as much as silver

mercurynut

There are not as many gold only collectors so hear only a fraction of the chatter, but I dollar cost average my way into generic gold and have done ok over the years.

291fifth

The only gold coins I own are commems, mostly modern. After having been burned by gold back in the early 80's I have never had much enthusiasm for it. The market seems to be clogged by an overabundance of common date gold that never really finds a home. The really good material is locked away in the safe deposit boxes of America.

coinguy1

Dollardude, I would take that and any such article with (a very large) "grain of salt". How often do you see negative / downbeat articles about rare coins and the state of the rare coin market on that site?

1jester

Good point, Coinguy!

I like gold, but only own a few pieces of it. My collecting interests seem to be all over the place: gold, silver, copper......even Darkside!

nickel

depends on which gold you are refering to . us or foreign , bullion or collector/investor .

with daily price swings in bullion gold , many shops do not keep a mix of denominatios in stock . they may have an ounce or two , but usually sales are made on day of purchase , and coins are ordered and price is locked , with delivery within a week .

collector gold , raw or slabbed , foreign or us , usually sells in a matter of days in coin shops .

i'm surprised at the fact that larger coin shows do not have an abundance of collector gold? besides morgan dollars , and maybe one other series , slabbed and raw us gold in $20 , $10 , $5 and $2 1/2 is one of the common items in many dealer cases .

the selection of nice gold may be less at local shows , but at large ones , the question is ' how many do you want' ?

MadMonk

I have wondered if some dealers are holding back on thier Gold coins....hoping to make a killing when, and if, the price of Gold soars.

pmh1nic

Besides being relatively expensive you've got to be much more forgiving as far as marks go if you're going to collect gold (unless you've got really deep pockets). You hear a lot of discussion about the "major" differences between MS-65 and 66 or 66 and 67, etc. For the most part you can't put that kind of emphasis on marks if you're going to collect gold, especially classic gold.

MacCoin

I have just started to look at gold after buying a few paper notes I don't think it a bad deal at all.

BillJones

Many dealers don’t want to have too much gold in inventory for a variety of reasons.

· The cost per item is higher than it often is for other coins. Since the cost is higher the selling price is also higher, which makes it harder to sell at small shows.

· The mark-up on gold is low for the most part, while the down side can be high because of bullion price fulgurations. The prices for many silver and copper coins are more stable.

· At lot of “coin gurus” have shooed collectors and others away from common date “generic gold.” I’ll agree that overgraded common date gold coins are not good buys, but when the coins are properly graded and the price of bullion is not overheated one can do VERY WELL financially with these coins. I know that from first hand experience.

· Common date circulated gold is pretty dead stuff. That’s what a lot of dealers have at the shows, and yes, it’s not a great buy and really no more than bullion speculation.

I've found gold coins to fun to collect and a joy to own. An you know what? It's nice to collect something with which the speculators are not playing games, at least not right now.

wallstreetman

One big reason you dont see as much talk on Gold is because it doesnt break down like Silver does, so you dont see those major discussions about toning etc...

Sequitur

Mikey: why do you say proof American Eagle gold coins "have been a royal dissappointment"? Do you mean their design, price appreciation, population?

wallstreetman

<< <i> An you know what? It's nice to collect something with which the speculators are not playing games, at least not right now. >>



Hey Bill, Tell that to Blanchard!

BillJones

Well, I don't travel in the same circles as Blanchart, and since the coin market is a fairly large ocean, I don't have to worry about them.

razorface1027

Call it an unconscious or unaided will on my behalf, but I've been delving into Goldies most recently(past 2 or 3 weeks) after dumping the majority of my Morgans. Something I've always wanted since I was a 7 or 8 year old was a $20 Gaudy, now I've got 3 along with my Liberty set, which, by all intention purposes, will become complete by the beginning of next week with the $1 speciman...

USMC_6115

Right now, I love gold and IKEs! It's all I'm collecting. I started with the gold eagles but now I'm selling those off to grab some old gold.

eagle7

I can speak on facts. I have been buying and selling common date pre 33 twenty saints and twenty libs since 1992. Exactly one year and a half ago a twenty lib in a PCGS 64 holder could be bought for 675.00 anywhere. EBAy or the aution houses. Im not speaking of the retail market. Today the same coin sells in the Heritage auctions or on EBAY for 1200.00 and they sell. They dont sit there. These are facts. Anyone can look at the Heritage auction results for the last few years and see that I am right. The twenty saints have enjoyed about half that jump, from 500 in 64 to 700 in 64 in the same period of time. They are also very nice looking coins in the 64 grade. So is the gold market hot, you bet your a$$ it is, but not for modern coins. Only the pre 33 mintstate gold in 63 and above for PCGS and NGC. So the market is narrow, but it is there. Within those limits it is red hot.