Advice requestamundo; Response appreciativo - Update: The Deed is Done

ColonialCoinUnion

So I'm going to the Boston show tomorrow and I've been asked by a friend to buy a $500 - 700 coin or coins for her to give as a gift to some guy and she will pay me back. Shes a friend, and I've agreed to do it. Plus his birthday is Monday and its way too late to back out now.

Some kind of US type coin(s), something large and flashy or gold seems to be the best bet. I'm thinking lustrous Morgan, $10 Indian or something like that.

The recipient is someone I don't know, but he is not knowledgeable about coins. He will also be receiving a Redbook as a gift from her at the same time.

While I am a colonial collector, I know coins in general. I just don't know current US type coin prices down to the penny like I do in my specialty. And since the guy will be receiving a Redbook at the same time, I feel like I need to buy something for the price(s) listed in the Redbook lest she think she got a bad deal. Of course I don't own a current Redbook.

As I see it, my options are as follows:

1) Go to the show, buy a Redbook, find a cool coin(s) that matches a Redbook price, buy it, go to a bar and get hammered.
2) Same as #1, but skip that part about the coin show and the Redbook.
3) Buy a cool coin(s) (like a Morgan in 65 or 66), pay what seems a reasonable price and then explain to her that the Redbook prices are indicative at best and don't mean much.

I have no idea how the Redbook prices stack up against the typical prices one really needs to pay, or vs the Graysheet, etc. I assume the Redbook is way off.

UPDATE:

Based on the sage advice of a number of forum members, I looked at about 50 Saints and bought a PQ MS63 1924 in a green PCGS holder. Seemed to be better than any of the 64s I saw and was $540.

Thanks to all who inputted. By the way, I think redbook is $525 in MS60. I think.

Placid

3

mgoodm3

I don't think the Redbook breaks down the prices too finely for high grade Morgans , do they?

XpipedreamR

#3/ Get the highest grade , flashiest big coin you can in your price range, like the Morgan dollar you mentioned. For that coin, you could definitley get a great MS66 piece in your price range, like an 80S or 81S. Maybe a Peace dollar? A great WLH could be good, too. You might even be able to find a good PR65 WLH for that money. I wouldn't go for a smaller coin than that. You don't want to show up with some dinky little dime or nickel for this guy.


Geez, I someone bought me a $700 coin before I even collected

Why does she want to get this guy a coin and a Redbook? It seems like kind of a strange, random thing for a non-collector to get for a non-collector.

ddink

In my experience, redbook prices are quite high. I don't think it'd be too hard to find a coin for the same price (or less) as is listed, unless it's an absolutely PQ example.

ealandg

I vote that you use greysheet and get a better deal. Then the boyfriend will think she spent even more $ than she really did. I would vote for something older, too. Perhaps a draped bust or capped bust half...

ColonialCoinUnion

<< <i>Why does she want to get this guy a coin and a Redbook? It seems like kind of a strange, random thing for a non-collector to get for a non-collector. >>



I think I mentioned coins to her once, she mentioned it to him, he expressed an interest based on collecting as a kid, she thought it would be a clever gift etc. Hey, whatever.

FullHorn

Get a 1851 Double Eagle in EF-40, Its old, gold and has some size to it, a non collector will at least feel it has value, rather than something
more recent and higher grade in silver or copper.

ColonialCoinUnion

<< <i>Get a 1851 Double Eagle in EF-40, Its old, gold and has some size to it, a non collector will at least feel it has value, rather than something
more recent and higher grade in silver or copper. >>



Am I really likely to find one during one day at a medium sized coin show?

FullHorn

Heck, I dont know, I just looked in the red book for something that I wish someone would buy me
edit to fix emotion

KUCH

After you get hammered at the bar, you might even look at some key date coins. Key dates over condition is my suggestion.

Gemini

IMHO...I think a non collector would be more so impressed with something golden like you mentioned...even if it is common dated.
These are the coins most average people are not familiar with and there is nothing like the heft of a gold piece.

XpipedreamR

My guess is that a non-collector would favor a nice flashy common over a worn down key date. Who knows.

boiler78

I would suggest a common date Saint in 63 or 64. They are large/gold/beautiful

Bochiman

Get a saint, high end morgan, or good looking trade dollar.
Buy around greysheet+ price and redbook will show higher anyway.

For someone just starting out in that price range, I wouldn't suggest anything less than 100 years old. I also suggest pretty/bright toning (think golden or rainbow) or very lustrous.

I would also suggest it be large (not a cent nor nickel/dime) as someone who doesn't know anything will likely want to look at it over and over and feel its weight.

Too, get it slabbed so they don't try to clean it, palm it, rub it, feel it, lick it, etc. It will be their coin to do what they want with it, but, they may regret their actions later.

Ron

RYK

Re: 1851 $20 in XF-40:
Am I really likely to find one during one day at a medium sized coin show?
If you do, I would be very surprised.

I agree with the suggestion of a Saint in 63. I doubt you will find one in that price range in 64. $10 Indian also an excellent choice. You might find a common date in 63 for $700. Good luck and let us know how it turns out.

mgoodm3

Saint is a nice idea.

FC57Coins

I think #2 sounds pretty good, but save that - why don't you just walk around and look at the coins and see if you find some pieces that strike you. If you use your horse sense and ask the dealers what the greysheet price is on a given piece, most will quote it to you. Good luck - have fun - and have one for me

Goldfinger

I concur with the Saint suggestion. You can get a nice, 63 or 64 common date toward the low end of her price range. If that doesn't spark an interest in collecting, then he's a loser and she should dump him (after retrieving the coin).

nepbrs44

Sounds like she is starting him out.........I would go with a nice MS65-66 Morgan too......I don't collect them much but they sure impress the he*l out of collectors and any non collectors.

jbsteven

A PCGS ms64 Saint should cost you around $680-$700

Baley

I would suggest a common date Saint in 63 or 64. They are large/gold/beautiful

add me to the growing list of folks who say, you can't go wrong with a saint.

JadeRareCoin

JadeRareCoin

I agree: a Saint in PCGS MS-63. I just sold 5 in a wholesale deal for $500 each. You will pay a bit more, but you will be within budget. Can't go wrong. Regarding the bar thing, go for a GreyGoose Martini, up, shaken with 2 olives.

Placid

Gold is high now compared to what it was a year or two ago driving the price for common saints up.
I would go for the morgan. A nice dmpl in 65-66.