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Gold Quarter Eagle Question
erwindoc
Posts: 5,274 ✭✭✭✭✭
What would be a good "gold-buy" price on common date quarter eagles that are raw and gently circulated?
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"spot" would be my answer.
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Pass unless you are good at spotting counterfeits. These coins are small (Dime sized), and they don't contain much gold, but they do have a numismatic value. Therefore you can get nailed if you buy a bad one. At the same time the common dates are not that expensive in Mint State. The up side is limited.
Don't get me wrong. I like these little coins and have thought about collecting them. The series runs on for almost 70 years for the $2.50 Liberty with too many "sleeper rarities" however, so I have stuck with cherry picking the issues I like, most especially the 1848 "CAL."
Still it's an area where the novice can get hurt.
You really won't be able to find them for close to melt in decent condition. I am finding plenty of nice raw for under $250.
Bill Jones' advice is spot on...
Look at the 5-year chart here on the Host's Price Guide and you'll see a huge downtrend especially in the lower MS grades. One would be down over 50% in some grades if the 'Indian' was bought in 2012. The same goes with later date Liberties. It's worth the research because the difference in 'gently circulated' and MS is very small.
I've been buying the $2 1/2, $5, and $10 this year and last. Similar charts on the latter two denominations as well. One has to ask, how many more years or months will the current trend continue?
Although I like them, the small gold coins have not been an area I have collected - other than my pride and joy, a $5 Gold Indian. I do have a couple of tiny Mexican gold coins, picked up from a friend years ago... Mainly, I prefer the large gold coins... and like BillJones said, the small ones are widely counterfeited. Cheers, RickO
If you can afford to pay up, MS63 common date Liberties and Indians seem to be quite the bargain lately. In the $300s.
I agree with Bill's earlier comments. I love the liberty quarter eagle series. So many really rare dates with great stories and individual coins are still priced at obtainable levels
Melt plus $5 my best offer.
You sound like a coin dealer. LOL.
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