1932 Gold $10 in MS63-64...Good investment??

Manorcourtman · November 19, 2005 7:20AM

Ok Gold people.....are 1932 $10 Eagles in MS63+ a good investment at this point in the market? With multiple thousands available in PCGS slabs are they a viable investment or has the market topped out at this point at near 1k for a decent 63? Thanks, Chris

RYK · November 19, 2005 7:27AM

I have no idea about the investment potential, but I would like to own a gold coin from the depression era, and the 1932 is the most affordable. If I were looking to invest, I might try to find a lower pop coin that sells for the same (or nearly so) as the 1932, like the 1910-D in Marc Feld's inventory.

eagle7 · November 19, 2005 7:32AM

I think RYK is right on the money with his suggestion of the 1910D as an alternate choice. And I would like to add this caveat. If gold continues to rise up to about 800 an oz, the coins of which you speak will easily double in price and most likely will triple or more. That is a big if, just so you understand that.

jpkinla · November 19, 2005 7:50AM

You cannot get hurt buying those......If you can find 1926 $10's they are substantially rarer but have no price premium over the 1932.....

lclugza · November 19, 2005 8:06AM

I wouldn't put ANY money in a common date gold coin for "investment" purposes. If you want to collect it and hold it in your collection until you die, okay, but if you're only buying it to sell to a greater fool later... you ought to forget it. These things apparently are quite common and their prices are not really justified. Better for a coin to go to a collector, rather than a speculator only interested in profit.

techeff · November 19, 2005 8:25AM

I really like the $10 gold, but would advise you to look at lower pop dates which are very reasonable.

techeff · November 19, 2005 8:26AM

like the 1910-D in Marc Feld's inventory.

I wasn't made aware of this...

roadrunner · November 19, 2005 8:38AM

Slightly better dates carry no premium such as the 1912.
Try to sell one for more than a generic price......good luck.
So if you pick these up they would tend to soften the downward blow if common date 63's correct back to say $750.

$10 Indians are under promotion and I feel it will continue longer.
Nice 63-65 pieces will likely do well. 63's are pushed way up already but there is more to come I think. I sold mine already however.
MS62's are not under promotion and at $360 a coin might be considered a play. No one wants these right now since they are busy promoting the 63's and up. The 62's are not much over bullion.

Good luck.

roadrunner

eagle7 · November 19, 2005 8:43AM

Kinda easy to promote something there is such demand for. And I disagree that the 1912 carries no premium. Just look at Heritage's prices plus juice for the past year and the 1912 is easily 1.5 to 2 times more costly than the 32. The 1910 D however does not carry such a premium. I think with gold at 485 and looking strong, that is where most of the demand is coming from. If gold fell to less than 400 monday, even if someone poured millions into the ms63 indian market they could not hold it up. JMHO.

FoundingFather · November 19, 2005 8:44AM

No one knows which way the market is going and I submit to you if you are going to base your investments on people's guesses, or feel you need to ask for guesses, you probably shouldn't be investing in this way.

Abaco24 · November 19, 2005 8:47AM

Better than buying modern bullion

CarlWohlforth · November 19, 2005 8:54AM

Q: are 1932 Eagles in 63 a good investment?

A1: Do you want to invest in gold metal?
If so, no. Buy world gold coins very close to the bullion price...

A2: Do you want to invest in numismatic gold?
If so, no. Buy higher grade coins with lower mintage dates...

PerryHall · November 19, 2005 9:01AM

<< <i> The 62's are not much over bullion. >>

roadrunner---Please tell me where I can buy $10 Indians at "not much over buillion"?

streeter · November 19, 2005 9:05AM

When AU was at about $450 a few months ago I was offered(and bought) good looking 63 Plastic Indians at $750. Gold has climbed 8% and the slabs have gone up 33%(alledgedly).

A trader told me that one of the big houses is getting low on them so that may be the end of the programs or the slabs may have to increase in price further for more supply. A little higher and they can have my few back so they can resell them.

Just remember, I'm wrong half the time or I'd be in Hana w/o internet access.

roadrunner · November 19, 2005 9:11AM

In this phase of the gold market, the premium gold has outperformed the near bullion gold. LIke it or not. Hence 63's to 65's have been the winners, not eagles, not 61's or 62's mind you.

If you want to make a play with MS62 eagles in the $350-$360 range try PNG dealer Bruce Kutcher. He has a good pulse on the gold market as that is almost all he does in wholesale gold back and forth. To me, with 62 $10 LIbs at about 60% premium to melt, that makes then "close to bullion."

roadrunner

JDelage · November 20, 2005 3:37AM

it looks like people are talking about the good investment of the past. By definition, the good investment of the future are those that are undervalued now, no?

jpkinla · November 20, 2005 5:49AM

I think you are mistaken if you think $10 Indians are overvalued at these numbers......The $10 Indian series is at least 3 times rarer than $20 Saints and yet have not even approached the values that are justified by their rarity.....

I would anticipate a substantial increase in price and feel that 1932 $10 Indians are as good an investment as any other gold coin......Problem is you cannot find any quantity of $10 Indians.....anywhere......

Watch the price of these coins in the months to come.....

PerryHall · November 20, 2005 6:09AM

I like the 1932 Indian Gold $10. While its by far the most common date, its also one of the better struck dates and usually has very nice luster. Also, its the only affordable gold coin from the 1930's which was the last decade of classic gold production.

roadrunner · November 20, 2005 8:13AM

I would have to agree with JPKinla that there is much to come.
With the price of commons jumping up $200 and erasing the premium of the 1912 for example in MS63 grade is only logical.
That's what happens when the base coins sky rocket. If gold hit $1000/oz. do you think a 16-s or 15-s $20 Saint would carry ANY premium in less than 65 grade? Of course not.

A dealer friend of mine recently tried to sell a 1912 $10 in MS63 grade from Baltimore to Boston. After a number of shows trying to get a $25-50 premium he sold it for common at $975. If you as a retail buyer want to swallow the better date idea after a $350 rise in prices and pay $1200 for a 1912, be my guest. I'm sure Heritage will oblige you. But the bottom line is that they are now paying common date prices for previously slightly better dates. Basically the rise in common date prices fully erased that premium. Be prepared to see this scenario played out much more often in the future as gold prices rise.

roadrunner

JDelage · November 20, 2005 8:32AM

It could just be that the price for commons are going to fall?

jpkinla · November 20, 2005 10:02AM

Do not kid yourself that the price of common dates will fall.....If gold rises as I expect it will, then ANY gold coin will be good but the rare and rarest will skyrocket.....Of course at that point it is better to gain liquidity with common dated stuff.....

Try to find 10-20 $10 Indians, even 1932's in MS64 or better......You won't find them.....

I expect $500 within the next couple of weeks and then a rest......

Let's see what happens in our country for the rest of our President's term.....

That is why I bought the coins I have......

mrearlygold · November 20, 2005 10:42AM

<< <i>No one knows which way the market is going and I submit to you if you are going to base your investments on people's guesses, or feel you need to ask for guesses, you probably shouldn't be investing in this way. >>

Agree

TheRaven · November 20, 2005 1:07PM

From investment I would say the higher the grade the better, just my personal feeling.....

You don't seem to find to many of these Indians at shows, I was just looking for a $5 Indian (ended up getting 1913 PCGS MS-62), and was surprise at how few of these $10 Indians I saw.....

I have my $10 Indian for my type set (1926 PCGS MS-63) purchased a few years ago and it has been a solid purchase if I went to sell it right now.....

michael · November 20, 2005 3:39PM

RYK
Choose Your Title

Posts: 10419
Joined: Jan 2003
Saturday November 19, 2005 5:27 PM

I have no idea about the investment potential, but I would like to own a gold coin from the depression era, and the 1932 is the most affordable. If I were looking to invest, I might try to find a lower pop coin that sells for the same (or nearly so) as the 1932, like the 1910-D in Marc Feld's inventory.

mhammerman · November 21, 2005 12:57AM

It is difficult to tell if the cost of indians is rising because of collector demand, or from people trying to grab some gold coins, or from accelerated buying by indian collectors because the pickins are thinning out.

There are different camps in the gold coin collecting business, and I'm talking about collecting/investing v.s. dealing such as buying cheap and turning an upgrade or maybe finging newbie in the series. Not that the two camps are opposing parties but just different groups and maybe some that ride the fence.

The US gold collectors are further divided into interest areas. There are the early gold guys looking for small eagles, obscure dates, heraldic eagles, early 1800's and late 1700's. These are pricey coins starting in 5 digits for unc and not for the weak or uneducated. The early gold specimens are coins that I can only gaze upon and not hold. This group is elusive and they don't talk much about their goodies except with other early guys, from what I have seen. The history here is very well documented and readable.

Then there are the branch mint guys, pre/post civil war gold guys, I will speak their names...New Orleans, Charlotte, Carson City, Dahlonega, and later, San Francisco. 1830's +/- a little are the years they are interested in . These guys are well educated in their series and have enough understanding about the coins issued that they are also historians. Their fare is pricey and sophisticated and very enviable.

There's the $1, 3's, 4's guys but they remain an enigma to me...rare air though and I just love looking at them though they are way outta my league and I don't understand the series or the collectors. They are sure fun to read about though. I do love watching their posts and enjoy looking.

Then there are the gold commem guys though I know very little about either the commems as a collectible series, or those that are into this type of entertainment.

Of course there are classic head pre 38 and liberty head collectors but those guys are probably branch minters too that are just looking for something to do, their real passion seems to be in the branches. The liberty series is very long and collecting a complete set could easily take a life time, in my opinion. The classic heads are kinda pricey and probably don't trade in the common arenas and the libertys are so long and so common that the interest may not be as passionate as for other US issues.

Now you come to the indian hunters. Hunting indians now has become more difficult than it was just a year ago and I can't tell quite why. What I do know is that there are not as many of them in good for the grade condition to pick from and they are becoming more and more pricey. All of the indians I collected a couple of years ago have appreciated quite well, if you use the wholesale pricing guides from then and now. What I have seen is a lot of poor for the grade coins being offered for sale. Some of the stuff you would swear is too ugly to slab and it's sitting in a 62 holder...it just baffles me. I don't know what my indians would bring if they were sold because they are only worth what you can get for them and I'm a collector, not on the sell side but the buy side. To me the indians are kind of like land, you never sell, just buy.

The indians are a short series, just 9 dates for the $5's and only two real stoppers in unc. but even the stoppers won't cost 5 digits in low unc (well, maybe) and they are doable. The $10's are more complicated because there are 15 dates but only 12 are really accessible, with two serious stoppers and one impossible (illegal) one. I don't really concern myself with the 2 1/2's, too much in the $5's and $10's to keep me occupied...must focus...focus.

So, the question..."1932 Gold $10 in MS63-64...Good investment??"

If you are a collector, yes, they are a very good investment if you know what to buy and what the good for the grade 64's are and you have the patience to hide and wait for a good one to come by. If you are just out buying slabs...nah, you probably won't be well rewarded because there are a majority of below average for the grade coins in this series and they are mostly what seems to be for sale. You would probably find your self "looking for a new fool" when it's time to get out. If you are a speculator I can't tell that this is a good way to gather buks. One thing for sure, the mid grade 62-64 are becoming more difficult to find and afford in good for the grade condition. I suspect they are being rat-holed away by people like me and by people that see a coin series that is becoming depleated for the common gathering. I suspect that there are bigger rat-holers out there, stocking up nuts for later, maybe for a big promotion later...hummmmmm.

In summation, the US has gold coins for anyone...the rich, the middle and the barely in there but there is something for everyone and the history of these series is as deep and as wide as the country herself. It is probably not an area for novices or speculators but I suspect there is that component in this market. For collectors, it is a very rich and rewarding area. Collecting US gold requires patience, buks, much knowledge, and plenty of just plain old looking and paying attention.

This is just one collectors view into the US gold issues, there are much more seasoned, wise, and astute guys here. I just posted for the thrill of talking about these things and for general interest.

Enjoy

roadrunner · November 21, 2005 1:24AM

It is difficult to tell if the cost of indians is rising because of collector demand, or from people trying to grab some gold coins, or from accelerated buying by indian collectors because the pickins are thinning out.

I don't see collector demand generating this move in Indians one bit.
The price of 63 $10 Indians was $725 a few months back, I know I bought a few. Then they tanked to $625-650 as gold dropped.
I couldn't sell one of these for $675 to save my life. There was zero demand at the new lower level. Now they jumped up to $1000....and are in feverish demand. Do you really think that collector or investor demand just woke up one morning and said I need $10 Indians? Not likely. What? This is mostly promotion. Once collectors and investors get a sniff of something "moving" then it becomes a freight train until the early accumulators hop off.

I would submit that the pickings have been thinning for many months. The accumulators do not want to show their tracks.

roadrunner

JDelage · November 21, 2005 1:28AM

Roadrunner - this would suggest that they are *not* a good investment right now. Do I get that right?

jpkinla · November 21, 2005 1:34AM

I don't think you can get hurt if you buy nice $10 Indians, even common dates.....Don't buy them for a QUICK profit but rather for their gold content and numismatic value....

I started buying the really rare ones and higher quality ones in the beginning of 2004 and picked up most of the tougher ones from the Michaels sale that Stack's had in Feb 2004.....

It was tough completing the set but feel that now that I have, it is something difficult to duplicate if I sold it.....

I always liked the idea of buying as many $10's in 63-65 I could find.....I changed direction midstream and decided to build a set....

roadrunner · November 21, 2005 3:42AM

Roadrunner - this would suggest that they are *not* a good investment right now. Do I get that right?

No way to know unless you know the promotors behind the scenes.
I said this about $3 gold pieces over a year ago, yet they have continued to increase another 30% with no signs of stopping.
I suspect the same will happen to $10 Indians and other gold as well.

Same situation happened with 1955 DDO cents about 2 years ago.
You couldn't give one away for bid when MS62's were worth about
$1200. They were in demand alright, but not that much. Now look at them. Do you think this was all collector demand? Now that they are over $2000 it has to be collector demand now right?

See what Keets said again about dealer transactions.

roadrunner

GoYankees · November 21, 2005 2:42PM

Reading this thread leads me to another question...

What about AU53-58s of the series?

Opinions?

cosmicdebris · November 21, 2005 10:06PM

<< <i>Reading this thread leads me to another question...

What about AU53-58s of the series?

Opinions? >>

You should buy some.

mrearlygold · November 22, 2005 4:38AM

<< <i>I think you are mistaken if you think $10 Indians are overvalued at these numbers......The $10 Indian series is at least 3 times rarer than $20 Saints and yet have not even approached the values that are justified by their rarity.....

Sorry but you cannot go by rarity alone in determing value. If rarity alone were the case then there are a lot of quarter eagles which should be multiples of the prices they are at today.

Oops

1932 Gold $10 in MS63-64...Good investment??

Comments

Leave a Comment