How many ounces of gold in a typical coin collection?
csdot
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Working off the assumption that most collectors are not uber rich and therefore probably have gold type pieces (probably close to bullion value), I am trying to determine what is a typical amount of gold coins that a collector might have in his coin collection. For those of you who include gold in your collection (whether you are uber rich are a common Joe), how many ounces do you estimate the hypothetical coin collector might have? Obviously years collecting is a factor.
How many ounces of gold in a typical coin collection?
This is a private poll: no-one will see what you voted for.
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You don't need any gold to have a great coin collection. How much gold is in a collection of colonial coins or Morgan Dollar VAM's or large cents by variety or...…...
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depends on how long you have been collecting, a older collector that has been stacking for 30 or 40 years is going to have over 100 ounces, average is probably around 20 or more
I agree with @PerryHall. You don't need any gold to have a great collection. If a U.S. type collector gets every type from the half cent to the silver dollar, that is one heck of a collection. If a British collector is after the hammered pieces prior to Henry III who introduced gold to the British monetary system, he could have an outstanding collection.
If you are U.S. gold dollar collector, you could have a great collection, and not have that many ounces of gold.
On the other hand you could be have a collection full of lower grade double ealges, which have been available for less than melt from time to time, and not have much of a numiscatic collection. Ditto is you have a lot of modern bullion gold.
The amount of gold really does not determine what a "reasonable collection" is.
Maybe a better way to word it is " How many ounces of gold in in typical coin collection"
If that's more the question, than I'd guess, for a collector of 20 years or so, 6-8 ounces. 1or 2 - 1 oz. bullion pieces, 2 or 3 $20, and various Liberty and Indian $5's and $2.50's
I did not intend to imply that someone must have gold in the collection for it to be "great." Maybe come at it from the other direction to ask if the forum has a view on when a collector crosses a line we might call "reasonableness" from being what many think of a coin collector to a pure gold hoarder?
I think this part of your answer goes to that point:
I don't think anyone begrudges a collector for having one 1924 Saint graded AU-50 in their collection, but 10 or more 1924 Saints might be considered a bullion collection, as $1,200 - $1,300/per coin might have a better numismatic use.
Anyway, interesting to read the responses.
Indian Head $10 Gold Date Set Album
Good suggestion. I certainly did not mean to imply "reasonable" equates to "great" when evaluating the quality of someone's US coin collection.
Indian Head $10 Gold Date Set Album
Revised to change Reasonable to Typical.
Thanks for the insight on how Reasonable was not the correct wording here.
Indian Head $10 Gold Date Set Album
"Reasonable" and gold ownership are mutually exclusive.
I don't have any Gold at all. Not that I don't like Gold. It's just not my area of collecting.
This reminds me of another thread as too what is a coin collector. Outside of shows, shops, etc. I have meet many people in the general public with a coin collection. Most are built out of coins people here wouldn’t spend any time on. Only one mentioned owning gold. When she was young the tooth fairy brought her little gold coins with a women’s bust on them. She had no idea what the were worth but since they came from here grandfather she will never part with them.
I should mention she’s to old for those to be the new golden dollars.
How about platinum? Or palladium? Or even pink gold? My collection consisted mainly of copper to start!!!!! I have a pretty nice mix now, but mostly silver. Does anyone collect clad? What about bronze? So much variety, so little time.
Interesting post, thanks !!!
The way some people around here post (in CAC threads, etc), I think they don't worry about the ounces in their coin collections as much as their 12oz cans of alcohol......
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I wonder what the poll would have looked like if I had included gold CAC stickers as a poll answer?
Indian Head $10 Gold Date Set Album
I didn't have any gold at all until I had been collecting for over 40 years.
As a kid, NOBODY had any gold in their collections. (Kids AND adults).
Heck, my father (born 1928) had NEVER seen a 20 gold piece - or any other gold piece for that matter.
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The vast majority of coin collections don’t contain even a single slabbed coin, let alone something as inherently as valuable as gold.
Apart from that, the majority of privately held gold is probably made up of coins & bars with little to no numismatic importance. WAY more people own a few AGEs and Kruggerands than a gem 12-piece type set. Those who post here do not make up a representative sample of the coin collecting populace.
I’d like to pick up a Saint or two.
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I've been called in and asked to recommend how to dispose of ten or so local/area coin collections.
The typical run-of-the-mill American coin collection has NO gold in it.
Most of those ten (or so) collections consisted of bulk 90% silver dated 1892-1964, if the collections had any great value at all.
It's possible that a few gold coins were intentionally not shown to me, but I have rarely had any hint of (or was asked miscellaneous questions about) gold coins.
Just bullion for me - in any and all forms. Heavy, heavier, and heaviest.
I love me some PM. Lost count at a tenth ouncer...
For me, gold far surpasses silver. I have maybe 3-5 silver coins
My favorite poll is the one that asked " what are the last 4 digits of the cardholders social security number"
Honorable mention goes to "where do you keep your gold and what is your address?"
So if the poll reveals a bias toward the high values on the list, does that ruin your assumption? And, not to be a jerk, I'm just not sure what the purpose of the poll is besides just a curiosity from a small sample.
I see your intended point for the survey and I do not think OP has any intention to offend...
Monetary wise mine is about 30 / 70 with gold on top; just because I love gold
Think it’s just curiosity...as collectors spend more time in the hobby, some will gravitate towards pm’s and others will stay true to their goal. For me, type collecting has led me towards needing the gold type coins. Won’t pay for top notch for gold coins(find them for bullion prices when I canJ, so,it becomes a coin type/ bullion play. For what it’s worth, it makes it easier for me to convince myself to buy the gold type coins....I tell myself that I am diversifying my portfolio by adding gold bullion..
A few years ago, I gave a double eagle to my mom with her birthdate-1926. She had never saw one before.
I collected copper first - IHC's...then silver - a natural progression. Later, much later, gold became an interest and I added as I could. Fortunately, I added many pieces during the years it was much lower in value. Cheers, RickO
my entire gold collection consists of one $2.5 indian and one $5 indian
Appears that nearly half of collectors have 5 ounces or less (with many holding 1 ounce or less) in their collections.
Thanks for participating in the poll, and once again I apologize to those who were put off by the sincere question.
Indian Head $10 Gold Date Set Album
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You forgot to include 1 oz-2 oz. That's where mine is.
I see you are correct. I think you can count it with the 2-5 ounce answer, as that it what I would change the 2-5 option to say “over 1 but less than 5” if polls could be revised. Thanks.
Indian Head $10 Gold Date Set Album
I don't have a lot-complete date sets of the Type One 1 dollar gold (six dates) and of the Indian Head $2.50 plus a couple of odds and ends.
Your "2-5 ounce" category fit me perfectly! 20th century gold type, and a few random others. Rare that a poll actually has "my answer".
I went with zero, as the typical collector does not purchase gold coins.
There is no typical collection, thus not only unknowable, but irrelevant.
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