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Advice on collecting gold?
RyGuy
Posts: 1,462 ✭✭✭
I think I'm finally ready to venture into this corner of numismatics, although my knowledge is very sparse at the moment. While I don't plan on making any purchases until I feel educated enough, who here can offer general advice on the collecting of the Liberty $2.5/$5 series? Is one certainly more collectible than the other? What books should be read prior to purchasing? What are the sleepers in either series?
While this topic seems rather uninspired, I do have a genuine interest and hope some of you will chime in. Thanks in advance for any input.
Ryan
While this topic seems rather uninspired, I do have a genuine interest and hope some of you will chime in. Thanks in advance for any input.
Ryan
0
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There's nothing specifically in print on the $5 Liberty series, but for the $ 2 1/2 Liberty you need to seek out Paul F. Taglione's "A Reference Guide To Federal Gold Coinage" Volume 2 - The Quarter Eagles.
Published in 1986, but it's intense info that still up to date as far as scarcity and rarity on the $2 1/2 Lib's.
Paul only wrote books on the $1, 2 /1/2 and $3 gold coins, but this book is better then the Akers or Guth/Garrett gold guides IMHO... but the others are a needed item also.
Not much variation in the design. Are you okay with that? It is a classic, familiar look. But you don't want to wake up 50 coins later and discover that you should have purchased World Gold instead.
Start with that book Broadstruck recommends.
I personally like the half eagles. The larger size, close to a modern nickel, appeals to me. Also, the smaller the coin, it seems the artwork gets cruder.
Sleepers? I suspect there are. In fact, regardless of how you define 'Sleeper', I bet this series has one.
I think the half eagles are slightly more 'collectible' through the virtue of there being more of them around. Depends on how one defines 'collectible'. Are you going for rarity or availability?
Basically, dates of 1878 and later are common. More or less for both series. There are some exceptions.
There are also many common years in the 1840s-1850s.
So many twists one can add...perhaps you want to focus on a branch mint? Perhaps you want to focus on coins with interesting appearances? Perhaps you have a date subrange in mind? Perhaps you want to amass more duplicates of the 1880 Half Eagle that anyone else in history?
You will probably want to get one or more of these books, depending on what aspect of the series you will focus on.
If you are considering buying raw...
1) I'd suggest that you at least lay your eyes on as many Known Good coins first.
2) Get a scale and the Bill Fivaz counterfeit detection guide.
3) That should be enough to scare you straight.
Remember that the 2006 US Mint San Francisco Commemorative gold coin was the size of a half eagle and had the reverse of a Liberty Half Eagle. (obverse of the San Francisco Mint).
Get one of these! In Proof! You can look at the reverse and pretend that it is a real proof.
I'd start off by looking at the listings in the Red Book to get a sense of scale/availability.
Are you more interested in the mint-marked coins? Are you more interested in circulated coins or uncirculated coins? Are you interested in the early years or the Civil War years or the post-1878 years? Are you more interested in the rarer coins or the more common coins?
Doug Winter's website has a lot of great articles on it, including articles on the San Francisco quarter and half eagles (from several years ago) and more recent articles on the Philly coins. Also, as Adamlaneus mentioned, his books on the southern coins are excellent and, of course, there are his book on CC coins as well as Rusty Goe's.
Certainly, the Garrett/Guth Encyclopedia is a good overview - but you might want to borrow it first to see if you want to spend the money for it.
If you're buying raw coins, then you probably want to get one of the counterfeit coin guides.
You may also want to join either the Southern Gold Society (or at least visit their website) or the Carson City Coin Collectors Club.
Are there any particular aspects of the quarter or half eagles that you find more appealing than other aspects.
Check out the Southern Gold Society
I would also recommend that you attend a coin show, and, if you can, look at coins in a Heritage Signature auction. Get an idea of which coins you like and which ones you do not. Then, buy a few. Keep them around for a while and see how you like them, now that they are in your possession. Study them.
There are many ways to buy quarter and half eagles, with price points from about $250 on up, way up. Don't bite off more than you can chew. Don't obsess over what you cannot find or cannot afford.
Learn how to recognize putty, cleaned coins, and dipped coins, best learned from someone who can show you in person.
Read QDB's tome, US Gold Coins: An Illustrated History. Above all, this is probably the best overview of US gold coins and is based on the Eliasberg gold collection and auction.
I'd also bop over to Silver Spring and meet with Julian, he can certainly help you learn what to look for.
Explore the world of Gold Dollars and dO iT sMALL.
Genuine Rarity, Three Types, Five Mints, Good Prices.....
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<< <i>Certainly, the Garrett/Guth Encyclopedia is a good overview - but you might want to borrow it first to see if you want to spend the money for it. >>
There's actually a Lot of 5 for $49.99 on EBay of the first edition which is dirt cheap if you can find 4 other members who want a copy of a book which retailed for $70.00 when published.
I think they are now up to the 3rd edition but I have not felt the need to buy the newer revised copy.
Link
<< <i>Purchased one of the encyclopedias for $12.99/new.
Link >>
Good deal and low shipping as it's a heavy book