I should hold out for a more reliable seller, right?

DeutscherGeist

I am from the baseball card forum, but I do collect coins too. My knowledge of baseball cards is top notch, but I can't say the same for coins.

I have less restraint on spending money on gold coins as opposed to baseball cards. However, I do not know who to buy from. Gold coins are many times more valuable than the type and era of cards I collect.

The only thing slowing me down from not spending thousands on gold coins is that I need a dealer I can trust and the coins must be mint and uncirculated, if not, I want to pay a very low price.

Here is a German coin I have no problem shelling out the cash for. It is graded and all. The seller seems shady at best. What do you guys think. Is $200 worth it? Should I hold out for a better seller?


German gold coin on ebay auction

IlikeZARcoins

I'd say hold off - you can find higher grade specimans for about $10 - 20 cheaper.

DeutscherGeist

If $170 is on the high end, thank you for telling me. This is a difficult hobby for me as I am still learning. Thanks for the tip.

theboz11

I have purchased that type coin for higher and lower than that price, Current catalog for a BU is $250, and UNC is $200...Catalog gold prices based on $400/oz. There seems to be a large group of them up for sale lately. With Gold on the climb, I consider it reasonabaly priced.

I recommend Krause World Gold..... ...Friedberg and frequent ebay "COMPLETED SALES" seaches for the particular coin you are looking for . This is also a good site for price references Auction results

Catalogs do not grade in increments the way the US coins are done. And Pro-grading is just as random IMHO.

Preussen

MS66 specimens routinely sell for $150 or slightly less...just keep your eye on ebay, - Preussen

DeutscherGeist

By buying MS66, am I assuming correctly that I will get a BU coin without a risk of being scammed?

It is safer to buy a coin that is graded by a third party than relying on a seller and his perception of grading. In baseball card collecting, we never can trust a seller to grade a card as they always exaggerate. We buy cards that are graded by PSA--a subsidiary of Collectors Universe.

IlikeZARcoins

Yep - graded is best imo especially when trying to buy gold.

Also try to get a seller with 100% feedback and a good return policy.

ibzman350

<<I am from the baseball card forum, but I do collect coins too. My knowledge of baseball cards is top notch, but I can't say the same for coins.>>

I would highly recommend seeking out graded coins, especially gold, keep away from raw gold. There are plenty of counterfit coins on the bay.





Herb

theboz11

Like everything else in this world, If you depend others opinion with no knowledge of your own,,,The wolves are at the door

I Haven't found gold counterfiets to be rampant on ebay. There are copies and yes some couterfiets pop up, generally poor quality. Get educated and there are lots of bargins out there still.

If you are looking at this as an investment,,,,There are no promises and you can sit on some coins for decades and not get your money back out. If you just want gold, buy bullion pandas or the like for minimum markup over spot.

worldcoinguy

You mention that the seller seems shady. Do others have the same initial impression?

I am not one to defend poor feedback, but the most recent negatives from buyers are due to items not arriving. They are an auction company in Illinois that appears to sell prints and all types of collectibles. If you could get them to insure it (not explicitly offered) I would think that would go a long way in solving the problem and protecting yourself. If not, I would pass on the coin.

Price is a different story – others have made some good points about price. Don’t forget the buyer’s premium.

MacCrimmon

While not strictly bullion, those coins (1872/73) are available in bag quantities.

Here are the Teletrade sales since Jan. 1. Note that ONLY the MS66/67 graded coins are bringing in the 160-180+ range. Also note there was a buyers premium of 12% attached to those hammer prices, plus $4.00 per single coin.

Well, howdy!! Looks like the ESTATE (note the cert. no.) they got this one from was Teletrade.

Another point is the "spread" on these Prus. is much bigger than strict bullion gold such as AE, Maples, and Krugs.


2149:1886
Jan 23, 2006
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1872A NGC 66 $180

2149:1887
Jan 23, 2006
View this lot
1873A NGC 66 $180

2153:2110
Jan 30, 2006
View this lot
1872A NGC 65 $95 - ($106.40 net)

2153:2112
Jan 30, 2006
View this lot
1872A NGC 67 $180

2168:1942
Feb 27, 2006
View this lot
1872A NGC 66 $160

2168:1943
Feb 27, 2006
View this lot
1872A NGC 66 $160

2168:1944
Feb 27, 2006
View this lot
1872A NGC 67 $180

2168:1945
Feb 27, 2006
View this lot
1872A NGC 67 $180

2168:1946
Feb 27, 2006
View this lot
1873A NGC 66 $180

2168:1947
Feb 27, 2006
View this lot
1873A NGC 67 $190

2177:2043
Mar 20, 2006
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1873A NGC 67 $210

2184:1924
Apr 3, 2006
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1872A NGC 67 $220

2191:2241
Apr 17, 2006
View this lot
1872A NGC 66

2191:2242
Apr 17, 2006
View this lot
1873A NGC 66

ibzman350

<<I Haven't found gold counterfiets to be rampant on ebay>>

I didn't mean to come across as "counterfits being rampant", just a heads up about counterfits being out there>





Herb

Rickc300

I already have one of these or else I would buy this one eBay link I have never dealt with this seller before but he does have a perfect feedback score of 183 Buy it now for $149.00 with $8.00 insured shipping is not to bad for an 1873-A 10 Mark graded as MS-66 by NGC.

Less expensive and no added premium...

DeutscherGeist

Rick,

Thank you for finding this for me. Yes, the seller has perfect feedback and a return policy. Plus, this is a graded coin.

I am seriously considering buying this one. I need to set up a paypal account first. I need the credit card protection for this high ticket items.

IlikeZARcoins

If you like a coin and are prepared to pay what the seller is asking then I say.........go for it !!!

DeutscherGeist

OK, I put my money where my mouth is and bought the coin.



Prussian Gold


I never had a graded coin before, so I am anxious to see how this one is. I would have preferred to buy raw, but I have little knowledge in grading coins right now. With my luck, I would get Prussian gold dipped, polished or worse. Correct me if I am wrong, but buying any gold coin for spot price is not a loss in case it turns out the coin is in bad condition, right?

Rickc300

Congrats on your plunge into the world of GOLD coins! That one looks very nice and I think you will be pleased with it when you hold it in your hands.



<< <i>buying any gold coin for spot price is not a loss in case it turns out the coin is in bad condition, right? >>



Correct! I buy gold coins whenever I can for "melt" (gold value). I have acquired a hodge podge of items that do not fit into any sphere of my collecting this way. I do on occasion find someone who wants one of those items and will trade for coins I do need for my collection. I look at these coins much the same way I look at my 401K or IRA, they should be worth much more when I retire. I figure the "melt" value is not going to be lower in 25 years than it is now. Worse case scenario, if something happens and I need the cash in an emergency I can sell them for their gold value (minus a percentage for the dealer doing the buying) anytime.

Have fun and happy collecting! And keep sharing your finds as you add to your collection.