If you have 20K to spend on 4-5 gold eagles or double eagles...
drfish
Posts: 948 ✭✭✭✭
Which coins - date, grade, denomination - do you think represent the best values in today's market? Which dealer would you enlist to help either preview auctions or direct purchase? The only caveat is these coins would need to be mint state or AU58 gems. They're for my dad who is expanding beyond modern bullion and generic pre33 ms62ish gold. I'm not sure that's he's ready for the jump to dirty gold as he's always collected "pretty" gold.
0
Comments
It seems like you are seeing it as an investment.
I would not recommend it, since the market has been in decline for 10 years or so:
pcgs.com/prices/graph.aspx?range=10%20years&filename=msgold
Usually on this forum, we discuss collecting as something we do for enjoyment,
so we pick coins based on how interesting they are. (With hope that we will not lose too much money overall).
I'd recommend calling Doug Winter and asking his opinion...he is the foremost expert on old gold and should be happy to speak with you: raregoldcoins.com
Some good articles on his site too...good luck...sounds like fun!!!!
Not an investment - he's beyond wealthy and these will certainly be enjoyed by him then passed on in his estate. He'd like to move beyond bullion and in his words "become a real collector"
OK, good. A lot of "real collectors" have a type set. This could be a way of looking at different series and finding ones you like. You could look at the PCGS Price Guide and see what you can get in the $4-5k per coin range.
pcgs.com/prices/priceguidedetail.aspx?ms=1&pr=1&sp=1&c=64&title=liberty+head+%2410
If he likes "pretty coins" and feels that is consistent with being a "real collector" he could consider proof gold.
Might also want to consider lower denominations like $5, $3, $2.50.
CoinFacts is a good place if he is not familiar with the design types and wants to see how they look; it also has links to auction records for the top specimens (maybe out of price range, though).
pcgscoinfacts.com/Hierarchy.aspx?c=64&title=Liberty+Head+%2410
pcgscoinfacts.com/Coin/Detail/8749
Now that sounds like fun... especially to a 'gold bug'.. such as I am ..
....yosclimber has some good advice and looking at gold coin books is also good preparation. ebay.com/bhp/gold-coin-book Cheers, RickO
If he has the resources, then prepare a complete gold type set from 1795 to 1932.
Look around for cac gold coins at around Greysheet or dealer wholesale, those deals do crop up once in a while. I would not buy from Mr. Winter as his mark-up is too large. I bought a gold coin around $3K once and he quoted me a buy back around $1K less within months.
+1
+1 Great guy, but you will paying premium prices.
$1.5 million will buy a modestly nice gold type set.
For $20k I'd spend the majority of it on a choice 1907 NM $10 in 66 CAC then the remainder of the balance on some nice $20 Saints, I'm sure I could find some rarer more interesting issues. But I'd want to keep it simple.
Andrew Blinkiewicz-Heritage
I would get the rarest gold coin in the highest grade you can swing. I like branch mint gold pre-civil war, excluding San Francisco. I say away from the generic material when a larger purchase is being considered. I think the old 30 and higher grade eighteenth century dollars will do well as will as high grade rare branch mint gold. Going forward the rarest high grade material will outperform most of the other market. If you can get a coin on Ebay it is probably not going to do well. It is a very fragmented market and based on what I see using Heritage archives There are coins that have done very well but they are not cheap or easy to find. Not all coins have lost ground over the last ten years as Heritage shoes what each coin brought.
Take a look at the $20 Libs are available and you will see what is available in number.