Suggesting a friend get some gold coins.
topstuf
Posts: 14,803 ✭✭✭✭✭
My old friend, who introduced me to coins via his and his wife's ...type set.... has just reentered collecting coins after a many decade hiatus.
I'm trying to "help" him now as he helped me back in 1971,
I try to give opinions on his purchases and he asks me questions to learn more about the stuff that has happened in coins since the advent of slabs and other newer trends in coins..
But I think he is reticent to buy any gold.
Now, when he and I first started "coining" we avoided gold because we weren't experienced in authentication. However, now with slabs, I think that's a past issue.
I'm an advocate of collecting what one ENJOYS.
Whaddya think? Try a gold coin? Just for beans? 
He's a member here and I'm going to forward this link in an email.
Comments
Old gold is your friend. Use stickers for safe gold coining.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I buy and sell a ton of $2 1/2 coins... they are my favorite to collect. I can send you a link to some if you are interested.
If you are just getting started, staying with known, trusted dealers can help due to the prevalence of fake coins in fake slabs. Just search for "gold 20 liberty" and "gold 20 gaudens" on AliExpress to get a feel for what's out there.
PCGS and CAC are useful for the grade guarantee due and additional eyes due to the prevalence of doctors. Some good info is here:
Topstuff was a dealer if memory serves me correctly : )
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
There are two mentions of slabs in the OP including one suggesting authentication is a past issue. Just wanted to highlight that you still have to:
That wasn't until 1979. Retired in 2003.
There are many good, trustworthy dealers on this forum... the open market can be risky, much more so in just the past ten or twelve years. Be cautious and establish a dealing relationship with good sources and you will be fine... gold coins are great to collect. Cheers, RickO
A new minister at my sister's church who was one of the queen's chaplains, originally from India, asked me to walk him through US money, and I had some early Colonial currency as well as US coins. He wanted to know how to buy gold. I told him semi-numismatics would be a winner, buying commercial Unc. $20s.
If you're friend enjoys gold, I say he goes for it. I think putting together a 12-Piece Gold Type Set would be a nice re-introduction into the hobby for your friend. When finished, it's a nice set on it's own or is fairly liquid to sell to pursue the next set.
I know where a group of authentic PCGS-graded Indian QEs are available.
If he wants a nice type set I think recommending he buy some gold coins is a good idea. I also collect what I like as well. Many type collectors can either get the most common type or a coin that has been cleaned but is not to hard on the eye. If I were type collecting I would get good examples of the most common dates as many of these coins trade for the melt price plus a small numismatic premium. If gold increases his coin value increases. If a particular type of gold coin comes into favor the premium will push up the coin. Two ways to make money while collecting something you enjoy.
In the beginning, it may be good to ask for second opinions until comfortable with telling real from counterfeit coins and slabs.
i would say spend a lot of time looking at the coins first. go to shows, stores, etc. get a real feel for the type of coin and look you want to collect before you pull the trigger on any coin.
,> @steveben said:
Fortunately, he is now consulting me with some good questions.
($5 P/L)
Some I wish had been asked PRIOR to purchasing, but he seems eager to become "up to date" on grading and the differences in the market since he and I used to go "coining" and buy Morgans for three dollars in BU.
the caveat being that once you find what is it you want to collect, when you see it...you have to have it. that gets expensive really quick! haha.
I'm the "old friend" of topstuf. One correction to his comments: We didn't buy gold 45 yrs ago because we didn't have any money. I
I have a "novice" 8 coin gold type set. Eg what would fill a Dansco gold page. Yes, I have no bust gold or little stuff.
Topstuf is my oldest and best friend. Too bad we now live 1000 miles apart.
Zoin:
You're right. I have no idea about fake slabs, doctored slabs, doctored and reslabbed coins, etc. . Maybe I should spend a month and tour coin shows with Topstuf.
Gold puts a smile on anyone's face. Just buy a couple mid MS grade quarter eagles or maybe a $5 eagle. There are many dates to choose from that carry little premium.
Johntm63
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