I just bought my first $10 Eagle

MrMonkeySwag96 · May 5, 2019 8:17PM

Most of my gold are smaller coins (dollars, quarter eagles, half eagles etc). I decided to purchase my first $10 eagle because of the drop in spot prices, as well as lower premiums on Pre-1933 gold. The $10 eagle I bought is a 1901, a common date. It's graded MS62 by NGC. What I like about this coin is that its in a Retro Black slab with a golden insert. The Retro Black slab attractively presents the coin. What are your thoughts?

Hemispherical · May 5, 2019 8:36PM

I always love gold @MrMonkeySwag96.

ifthevamzarockin · May 5, 2019 8:39PM

Congrats! The label & the holder give it a real nice look.

MrMonkeySwag96 · May 5, 2019 8:43PM

@ifthevamzarockin said:
Congrats! The label & the holder give it a real nice look.

Thanks, I wish NGC slabs all their gold coins in Retro Black holders

ricko · May 6, 2019 5:28AM

Nice gold coin and attractive slab.... I like gold displayed with a black background... especially if it is bright and lustrous...Cheers, RickO

tommy44 · May 6, 2019 5:47AM

I like it a lot. Good choice, congratulations.

jwitten · May 6, 2019 6:50AM

Love the holder/label combo. Coin isn't bad either

santinidollar · May 6, 2019 9:34AM

Don’t you just love it?

asheland · May 6, 2019 9:36AM

Nice one! I got my $10 early on in my quest to finish the type set. I found this example appealing among the three or four that were with it:
I chose based solely on eye appeal

asheland · May 6, 2019 9:37AM

asheland · May 6, 2019 9:43AM

That picture doesn't really show the luster that well, here's a decent shot:

clarkbar04 · May 6, 2019 9:46AM

Congrats, and that is a cool coin/holder combo. I don't have a $10 lib yet.

tommy44 · May 6, 2019 9:48AM

Here's the $10 lib w/motto in my gold type set. It is in a PCGS Secure MS62 slab but I think it might upgrade if resubmitted.

Timbuk3 · May 6, 2019 1:55PM

Very nice, congratulations !!!

MrMonkeySwag96 · May 6, 2019 1:59PM

@asheland said:
That picture doesn't really show the luster that well, here's a decent shot:

I saw this really nice 1884-S that I wanted to get. It's in an older NGC slab, graded MS61. It looked undergraded to me. 1884-S is a scarcer, more elusive date. Unfortunately somebody bought it before I could pull the trigger.

crazyhounddog · May 6, 2019 2:13PM

Attractive coin and holder👌🏻

drei3ree · May 7, 2019 8:56AM

MrMonkeySwag96 -- You're a college student...wish I'd had the money to buy gold coins when I was in college!

MrMonkeySwag96 · May 8, 2019 2:09AM

@drei3ree said:
MrMonkeySwag96 -- You're a college student...wish I'd had the money to buy gold coins when I was in college!

I bought most of my gold when I was in high school, back in 2015. Nowadays, I seldom buy gold for obvious reasons. This year was the first time I've bought gold in a long time. Unlike my peers, I don't drink, do drugs, or party. I save up money for textbooks and part of my tuition. Whatever is left, I buy a coin. I'm fortunate my parents pay for my dorm/housing. If I lived in an apartment, I wouldn't be buying coins. I'm obsessed with coins because I love history. I'm introverted, so this hobby lets me cope with my depression. Hence why I've invested so much in this hobby.

Hemispherical · May 8, 2019 2:14AM

@MrMonkeySwag96

Good to hear/read you have a good head on your shoulders!

Love the gold!

How do you store them?

MrMonkeySwag96 · May 8, 2019 2:17AM

@Hemispherical said:
@MrMonkeySwag96

Good to hear/read you have a good head on your shoulders!

Love the gold!

How do you store them?

The typical Sentry "fire resistant" safe. Not the best safe against burglars........

Hemispherical · May 8, 2019 2:22AM

@MrMonkeySwag96 said:

@Hemispherical said:
@MrMonkeySwag96

Good to hear/read you have a good head on your shoulders!

Love the gold!

How do you store them?

The typical Sentry "fire resistant" safe. Not the best safe against burglars........

Well, that’s better than nothing; as long as no one knows then no one will know to take something if it is not known.

Need caffeine!

MrMonkeySwag96 · May 8, 2019 2:26AM

@Hemispherical said:

@MrMonkeySwag96 said:

@Hemispherical said:
@MrMonkeySwag96

Good to hear/read you have a good head on your shoulders!

Love the gold!

How do you store them?

The typical Sentry "fire resistant" safe. Not the best safe against burglars........

Well, that’s better than nothing; as long as no one knows then no one will know to take something if it is not known.

Need caffeine!

I've always wanted a gun safe. But those take up a lot of space. Once I graduate college, employ at a stable career, own a home, with disposable income for better coins, that's when I'll get myself a gun safe.

LEMONHEAD_PENNY · May 8, 2019 3:30AM

Mr swag, the Gold against that Black is awesome looking! What a great looking holder and Coin!

BillJones · May 8, 2019 3:52AM

Hang in there! If you are studying a major that will get you a job after graduation, you will have more money for coins when you start working. That’s how it worked for me. My degree in accounting paid paid the bills.

In a conceptual world I would gotten a degree in economics or even history, that would have required two more degrees and a less certain economic future.

RWM · May 8, 2019 3:55AM

Thanks for sharing!

Kkathyl · May 8, 2019 3:57AM

Congratulations on your first full size beauty.

johnny9434 · May 8, 2019 11:21AM

nice gold all, i like to

Mizzou · May 8, 2019 12:23PM

"I don't drink, do drugs, or party"

Very wise at a young age, the coin values will appreciate in the next ten to twenty years and then you'll have plenty of money to drink, do drugs and party

TwoSides2aCoin · May 8, 2019 12:30PM

I like your attitude and choice(s).

Here's the last $10 Liberty Eagle I bought. It's true, the lower commodity prices influenced my decision, and a thirty percent discount from price guide values sealed the deal.
Go long on common sense.

pocketpiececommems · May 8, 2019 12:31PM

Now you need to get a $10 Indian to go along with it

MrMonkeySwag96 · May 8, 2019 8:54PM

@TwoSides2aCoin said:
I like your attitude and choice(s).

Here's the last $10 Liberty Eagle I bought. It's true, the lower commodity prices influenced my decision, and a thirty percent discount from price guide values sealed the deal.
Go long on common sense.

Cool New Orleans example

MrMonkeySwag96 · May 8, 2019 8:55PM

@pocketpiececommems said:
Now you need to get a $10 Indian to go along with it

A $10 Indian is part of my future plans. But I won't be getting one anytime soon.

MrMonkeySwag96 · May 8, 2019 8:59PM

@Mizzou said:
"I don't drink, do drugs, or party"

Very wise at a young age, the coin values will appreciate in the next ten to twenty years and then you'll have plenty of money to drink, do drugs and party

I don't think of this coin will appreciate in terms of numismatic premiums. After all, the market is flooded with post-1880 gold coins coming back from European banks. In addition, gold bullion should be viewed as "preservation of wealth" rather than an actual investment. Of course the dollar's purchasing power might be weaker 20 years from now, resulting in another rise in gold prices. I don't have any interest in drinking or partying. The shallow, narcissistic, ignorant, anti-intellectual mindset of many millennials disgusts me......

MrMonkeySwag96 · May 8, 2019 9:02PM

@LEMONHEAD_PENNY said:
Mr swag, the Gold against that Black is awesome looking! What a great looking holder and Coin!

Thanks bro!

blackhorse360 · May 8, 2019 11:41PM

Congratulations! Now you just need a $10 Indian!

MrMonkeySwag96 · May 8, 2019 11:46PM

@blackhorse360 said:
Congratulations! Now you just need a $10 Indian!

A $10 Indian is part of my future plans. But I won't be getting one anytime soon.

Justacommeman · May 9, 2019 5:37AM

A very refreshing thread. Congrats young man

m

jmski52 · May 9, 2019 8:04AM

I don't think you'll regret buying that gold. Nice move.

tommy44 · May 9, 2019 8:20AM

@TwoSides2aCoin said:
I like your attitude and choice(s).

Here's the last $10 Liberty Eagle I bought. It's true, the lower commodity prices influenced my decision, and a thirty percent discount from price guide values sealed the deal.
Go long on common sense.

Nice, anytime you can buy O mint gold at bargain prices I say jump on it.

roadrunner · May 9, 2019 8:35AM

Everything about the holder, the gold, the history, etc. has been stated. I'll comment just on the coin. Pretty scruffy imo for a MS62. I'd grade it 61. There are much better out there in PCGS and NGC holders. The reverse is certainly of decent 62/63 quality. But the obverse could just as easily be graded 60/61 next time. At PCGS it could even grade AU58. When it comes to generic gold you can look through many of these and cherry pick a high end 62 or 63 coin residing in a 62 holder. That would be my advice. That is more important than the holder.

Current premiums have lumped the price of XF/AU's to 63's in almost the same price range of $650 to $680. A slabbed MS63 is the no brainer better buy here at a 5% premium to an XF. And you can certainly find fresh and pq looking 63's for almost no premium. The same applies to all generic gold.....63's are typically the best value right now....with 64's not far behind. I'd always favor a pq 63 or 64 coin over the generic low end pieces that litter the market. Find a fresh deal of gold coins that has been kept hidden for 10-20 yrs. Buy from the dealer offering those at sheet money.

Recall that common date MS63 $10 Libs/Indians have been priced as high as $2500 back in 2009.....and up to $1550 in 2011. While we will never see those 4X premiums to spot in the future. The 63's could easily recover a small chunk of those premiums should gold decide to bounce back years down the road. At $1500 gold I could see these MS63's advancing at 2X the rate that the spot gold does. The potential is much greater in the 63's and the downside risk is only 5%. I think we'd all be surprised at how quickly slabbed US gold coins get gobbled up again should gold re-enter a recovery phase as demand would shift well outside the current "collector only" phase we're in. $5 Libs, $10's, and $20's will all respond well in the 63 to 64 grade. During gold's 2002-2011 run up....the best performing US gold coins were MS63 $20 Libs. The $10's carried more premium to their intrinsic gold so didn't do as well.

MrMonkeySwag96 · May 9, 2019 9:02AM

I agree, my 1901 looks more like a MS61. I think it was graded MS62 because of the luster. Initially, I never intended to purchase this 1901. There was a 1884-S that I wanted. 1884-S is a "better date" with a survival rate of 1000 and is scarce in grades higher than MS62. The 1884-S I wanted is in an older NGC fatty graded MS61. In my opinion, that 1884-S looked better than MS61, with relatively clean fields. Unfortunately somebody bought the 1884-S before I pulled the trigger. The other coin I wanted was a 1881 graded MS63, which also sold out. Thus, I was forced to settle for this 1901........

roadrunner · May 9, 2019 9:37AM

We're never forced to settle for something from one seller. There are always more sellers, more coins, and almost always a better price around the corner, especially with MS 61-63 gold.

1000 coins surviving is actually a lot for most 19th century gold or silver. I once estimated that out of the seated quarter series (1838-1891) that 85% of the series had surviving pops under 1000. It's probably very similar with the $5 and $10 Libs. Official mintages are often useless. Wth the 1884-s $10 (mintage of 124,250) a PCGS pop of 512 is pretty hefty if one consider there might only be a dozen or a couple dozen collectors building a MS set of $10 Libs (figure another 500 in pops on the NGC side...not to mention all the circ coins not worth grading as they trade near spot).

Even if the MS61 grade, any premium to melt on an 84-s will probably be swallowed up on the next major move in gold....maybe even the MS62 grade. Only the top dozen or two (out of 100+) of the MS 62's will have a claim on being included in better date pricing potential. The best buy will continue to be generic coins in 62-64 with eye appeal and slightly fewer marks than normal. I think over time better date 19th century gold will continue to lose premiums to gold spot for all but the truly scarce dates and keys in each series. The bulk of demand for slabbed gold will be from those looking for type coins and/or an attractive piece of gold. Common dates will outperform most better dates.....which is exactly the opposite for most non-US gold coin series.

asheland · May 9, 2019 1:40PM

I agree the premiums for 63 and 64 grades are very reasonable right now!

Walkerfan · May 9, 2019 1:52PM

A LOT of nice examples here!!

I like the OP's coin. Looks great in that slab with the gold label!!

I think it looks fine for a 62.

coinhack · May 9, 2019 5:28PM

I like your coin, especially the second set of photos. In those photos, it looks decent for the grade and it looks good in the black holder.

dennis1219 · May 9, 2019 6:45PM

👍

dpoole · May 9, 2019 6:57PM

Congrats, MrMonkeySwag!

I love those $10 golds!

jonruns · May 10, 2019 6:09AM

@roadrunner said:
We're never forced to settle for something from one seller. There are always more sellers, more coins, and almost always a better price around the corner, especially with MS 61-63 gold.

This is a great post from Roadrunner...thanks for your taking the time to provide your insights!!!

Just so I understand this: "Common dates will outperform most better dates.....which is exactly the opposite for most non-US gold coin series."

Is this due to the continued rise in the price of gold??

roadrunner · May 10, 2019 7:48AM

The price of gold is the biggest driver. But other inputs include the ever-increasing pops on the gold coins as they filter in from around the world and from formerly strong hands and hoarders. The irony here is that even without an actual supply increase, resubmissions of the same old coins "appears" as population increases and acts as a price suppressant. Gradeflation is another factor. As better date gold coins get pushed up a grade (or +) at a time, that essentially suppresses prices, especially on the lower grade specimens. And if the old grading inserts aren't returned or accounted for, it's a population increase. Despite pre-1933 classic US gold coins not having been minted in decades, their "supply" is increasing.....when placed in slabs. Slabbed pops have never stopped increasing....in a sense, it's like a new coin being minted.

Better date and semi-better date gold (but not necessarily KEY date gold) has been under price assault since around 2006-2009. And better dates vs. common dates did not correct back the other way very much when the gold price fell from 2011 through 2015.

Kkathyl · May 10, 2019 7:54AM

@roadrunner said:
The price of gold is the biggest driver. But other inputs include the ever-increasing pops on the gold coins as they filter in from around the world and from formerly strong hand holders. The irony here is that even without an actual supply increase, re-submissions of the same old coins "appears" as population increases and acts as a price suppressant. Gradeflation is another one. As better date gold coins get pushed up a grade (or +) at a time, that essentially suppresses prices, especially on the lower grade specimens. And if the old grading inserts aren't returned or accounted for, it's a population increase. Despite pre-1933 classic US gold coins not having been minted in decades, that's a raw coin factor. The other half of the equation are slab populations. Slab pops have never stopped increasing....in a sense, it's like a new coin being minted.

Better date and semi-better date gold (but not necessarily KEY date gold) has been under assault since around 2006-2009. And it has not corrected itself much when the gold price fell from 2011 through 2015.

It would do the business good to have the duplicate purged from the data. Great point here. I have not thought about this is a while. The industry recognizes this when it comes to the Six figure coins, but anything below seem to not matter.

I just bought my first $10 Eagle

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