My new project: World gold junk coins
gecko109
Posts: 8,231 ✭
I have decided to have some fun with my future gold bullion purchases and buy pre 1930 world gold coins. Im starting out with coins under 1/2 ounce and condition is unimportant to me. I started out a couple weeks ago, and below is the result so far. Almost all of the pictured coins were bought at melt to 5% over melt with just a couple exceptions....and those may have been 7-10% over. My goal is to have maybe a hundred or so different coins. I have 3 more on the way to add to this little, but growing pile. Enjoy!
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I just bought this exact same coin an hour ago for $380 (5% over melt). Talk about beginner's luck!
You can make a jar or bag full of gold....sort of a modern day Silas Marner.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Please visit my website Millcitynumismatics.com
you may want to flip your cherrypick now and get some more common stuff (IMHO)
<< <i>i think this is a great way to diversify and get some for close to melt.
you may want to flip your cherrypick now and get some more common stuff (IMHO) >>
Thats exactly what im thinking. I dont care about rarity....only quantity. I think i'll ebay that King William the 4th sovereign and double up on some more gold.
I dont know if you care about protection/presentation ....but Capital plastics makes some pretty neat holders for gold world coins.
Groucho Marx
<< <i>Great idea..Im doing something similar but sticking to more of a type set.
I dont know if you care about protection/presentation ....but Capital plastics makes some pretty neat holders for gold world coins. >>
I like to buy beat up, worn coins because i like to handle them. If a gold coin can survive 170+ years before I get to it....then its perfectly fine for me to hold it.
Nice stash!!
bob
<< <i>Sure glad you have a book on counterfeit world gold!
Nice stash!!
bob
Who needs a book when all you need is some common sense, and a digital scale?
bob
<< <i>There is too much fraudulent gold out there, it's more like unknown pot luck now. >>
Yup! Lots of counterfeit gold coins in the marketplace. If you aren't good at authenticating gold coins, buy from a trusted source. If you want to post a detailed high-resolution pic of a suspicious coin, we can help evaluate it for you.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Great idea..Im doing something similar but sticking to more of a type set.
I dont know if you care about protection/presentation ....but Capital plastics makes some pretty neat holders for gold world coins. >>
They'll also make custom holders won't they?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Ok in terms of world gold, what counterfeit foeign gols coins have you personally seem, how good were they and how did you spot them thanks planchet >>
I've seen many of the more popular types that were fake---especially the British sovereigns. John Devine published a book concerning counterfeit gold coin detection and he shows detailed pics of numerous counterfeit foreign coins and discusses the flaws such as pits, raised pimples, tiny spikes at the denticles, tooling, improper color, etc. Some were fairly crude while others were scary good. Most counterfeit gold coins use gold of the proper weight and fineness so weighing them will not necessarily prove a coin to be authentic.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Ok in terms of world gold, what counterfeit foeign gols coins have you personally seem, how good were they and how did you spot them thanks planchet >>
I havn't bought any fake gold yet, knock on wood. A dealer here in town purchased a Mexican 50 pesos counterfeit gold piece. He said the planchet size was right but the weight was off. About a year before that he showed me some gold Chinese Pandas that were fake. He's shared a few fakes with me. A few months back I purchased some Mexican Silver coins that were counterfeit. The edge lettering was missing and the coins weighed in at 10 grams less each. It's not limited to foreign coinage, however I personally believe it's rampant.
Or, you can buy from strangers by mail.
TD
I cant stand the idea of having gold just laying around ...Even my eagles which I think of as just straight bullion still get airtights.
Silver coins i could care less...But not gold.
I wonder how many different countries you can collect before 1930...keep us posted..sounds like fun.
Groucho Marx
I started my continental lil gold set last year. Just need something from Asia and something from South America and I'll have a piece of gold from all the continents minus antarctica of course. Once this last P puck is off my list I'll be resuming the gold project.
<< <i>I hate raw gold of any kind with all the fakes out there. Only certified gold for me and that's beginning to have to watch out for fake holders now too.
Its scarier to buy slabbed gold for me. If you made a perfect visual copy of a common .1177 oz gold coin out of a base metal, then gold plated it, and mixed it in with 19 other RAW, genuine .1177 oz gold coins, I could point out the fake 100 out of 100 times.
If you did the same thing except had all 20 coins slabbed, I could pick out the fake 0 out of 100 times. (Edited: ok, maybe 5 out of 100 times due to laws of probability)
The bottom line is that you have to know a little bit about what you are buying. And few people understand the properties of the element Au as well as I do. But as soon as you encapsulate an object, all bets are off as to whats truly inside that plastic tomb.
Only tungsten (W) is an adequate substitute for gold in terms of SG. If even lead.....which is more dense than silver....was used to counterfeit a gold coin, and then plated.....that coin would need to be almost TWICE as thick as a genuine gold coin to retain its proper weight and diameter. If it was made of proper diameter, and proper thickness, then it would weigh about HALF what a genuine coin would weigh. Could tungsten be used to counterfeit pre 1930 small denom world gold junk coins? I guess it could, but I suspect you would have a MUCH easier time in finding a counterfeit TPG slab.
Raw gold only scares those who dont know gold....especially when we are talking about common, small denom coins with zero numismatic value.
Groucho Marx
<< <i>Can you even make a coin out of tungsten? what type of force would you need ? >>
Agree. Tough metal to work with. Might be able to cast a counterfeit but the melting point is very high. Perhaps striking a sintered planchet? Lead is easier to work with---just make the planchet thicker to get the correct weight.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Can you even make a coin out of tungsten? what type of force would you need ? >>
Agree. Tough metal to work with. Might be able to cast a counterfeit but the melting point is very high. Perhaps striking a sintered planchet? Lead is easier to work with---just make the planchet thicker to get the correct weight. >>
Agree with you on tungsten, I have heard that depleted uranium is easier to work with.
<< <i>I hate raw gold of any kind with all the fakes out there. Only certified gold for me and that's beginning to have to watch out for fake holders now too.
Ya know, I could almost always tell that a coin was good gold by hefting it in my hand.
You can't do that in a slab.
TD