Need help on pricing...Gold Indian

swest

Hi gold experts,

I would like to buy a couple Gold Indians for 2 reasons. 1) I just really like them and whenever I find myself considering gold, my eye falls there. And 2) I realize gold has dropped down and I feel now might be a good time to negotiate such a purchase as I the Long Beach reports suggest dealers have a lot tied up in gold.

But I need some help cuz I am a newb to gold in general. First, how can I get a good idea of the current prices given that most pubs are a tad behind the market. I know there are quite a few dealers here, so any suggestions for me in terms of negotiation with my local shops?

Also, I really like the $2.5 Indian..Can you make any suggestions of what would be a smart purchase in terms of date and condition? I have no idea why I am so drawn to this coin, but I love the look of it and don't want my excitement to overcome my brain when it comes to making the right choice. I really appreciate any help you gold experts can throw my way.

Thanks!

Swest

BillJones

Your question is too general. But I'll give you two bits of advice.

#1. Unless you are a gold expert who can spot counterfeits, buy only certitifed coins from the leading TPGs.

#2. Within reason buy the best grades you can afford. I would not consider buying $2.50 Indians in less than Choice AU. The lower grade stuff just is not worth it and really does not have a great future IMO. On the other hand, buying MS-66 and other "wonder coins" is risky IMO. Most collectors don't want to pay those prices.

#3. The $2.50 Indian set is interesting, and it's the only "old gold" set that most collectors can hope to complete. The only really "stopper" is the 1911-D, and that can be found for a price, although today a pretty high price.

mhammerman

short answer to your question

Proper answer: Read Mr. Jones post.

eagle7

Go to the Heritage web site and join for free. Then look at the permanent auction archives for the grade you wish to purchase. You will get a good idea of what to pay for the coin and the grade you want. But like Bill said, you wont find many sales for the coin below the grade of au58.

swest

Thanks for the comments. I struggle with the PCGS price list as it seems always much higher than the market. I have been playing around with the Heritage auction history for pricing but again Gold has dropped pretty significantly.

I agree and wouldn't buy anything not slabbed by either PCGS or NGC. I was targeting a grade in the MS62-MS64. Sorry for lack of specifics as I didn't want to come off knowing more that I do...which is not much on gold.

Overall, from my reading on the board here, I feel like the MS63-MS64 is a very desireable selection. I appeciate any additional info you can add with this more specific information.

Is it true the Indians have fallen more in value than most gold coins?

Thanks!

pbfloyd

find a nice 60 pcgs or 61 Ngc. They are half the price of 63's . I have a 2.50 and 5.00 in 61 and 58 and I am happy. I love the design and having a high grade one was not needed to enjoy them.

RedTiger

Start slowly. At the higher MS grades there are huge differences in prices. As a newbie you are more than likely to end up with low end for the grade pieces, or pay full markup for mid-range pieces. The price of gold has a small impact on the price of $2.5 gold Indians. The recent $100 drop only makes a difference of $12 in gold value for the $2.5 coin, with the rest as numismatic value. For $10 and $20 gold, the spot gold price has a much bigger impact, though much more so in generic $20 and $10 Liberties, and $20 Saints.

The incuse gold designs are among the toughest series to grade, especially the small $2.5 coins. So again, take your time, and if high grade specimens are your end goal, do take the considerable amount of time to learn to grade them. If possible go to auction viewings where you can see a relatively large number of coins.

As always collect what you like. However, I suggest staying away from paying big money for better grades until you have a decent handle on grading. Big money being a relative term with a different meaning for each person. The grading thing will take an average person a year or more, probably leaning towards more when talking about difficult series' like gold Indians.