When buying gold...

CodyB · February 24, 2006 1:23PM

As Gold is pretty expensive, does this make it worthwhile to go for slabbed coins? They'res an auction coming up, and they have a few Gold coins, and i really want a gold coin to add to my collection...

1880 $5.00 Liberty U.S. Gold which they list as VF/XF - Value as $300 and starting bid is $155

1881 $10.00 Liberty U.S. Gold - AU - Value $757 Starting bid $280

1958 Pope Pius XII .9000 Gold Commemorative Medal 35MM Proof - $600 and bid at $237.50

1911 Gold Franc 20 Francs - Rooster - CH BU - $175 and $99

But, these are usually never slabbed, and it seems to me their values are always exaggerated....but, lost of time no one even bids on the gold...Is it worth it? (Yes, I do get to see the coins beforehand, through a glass case...I know a few signs of cleaning, but I don't think I'd know if it was AU or MS or anything like that...Maybe with a Redbook bought beforehand?)

relayer · February 24, 2006 1:25PM

If you want to

don't buy raw gold on eBay

CodyB · February 24, 2006 1:27PM

Yea, I don't think I'd buy anything expensive sight unseen...

RedTiger · February 24, 2006 3:05PM

Best to buy certified for gold. Many coins are available at very small premiums over raw and it will be that much easier to sell, if you need to cross that bridge. Another relatively safe option is modern gold bullion coins from a dealer. Even if you receive the genuine article buying raw, it may be difficult to convince another buyer that your coin is legit. Certified adds a level of liquidity. If a person shops around, the premium for certified will be neglible (Ebay, Heritage, Teletrade).

roadrunner · February 24, 2006 11:47PM

Unless you're a near expert authenticator/grader, you'd be foolish to buy earlier US gold raw when the same thing exists in PCGS/NGC holders for the same money. Bullion gold is one thing. But the earlier stuff is heavily altered and counterfeited.

roadrunner

fc · February 24, 2006 11:54PM

<1880 $5.00 Liberty U.S. Gold which they list as VF/XF - Value as $300 and starting bid is $155>

and 155 is all its worth!

<1881 $10.00 Liberty U.S. Gold - AU - Value $757 Starting bid $280>

280 seems about right for that coin if it is common as dirt.
see mintage figures please.

<1958 Pope Pius XII .9000 Gold Commemorative Medal 35MM Proof - $600 and bid at $237.50>

barf (my way of saying no thanks)

<1911 Gold Franc 20 Francs - Rooster - CH BU - $175 and $99>

barf (my way of saying no thanks)

you are going all over the place. pick one type of coin and
study the slabbed examples. then compare to the raw and
you will start seeing the differences.

CodyB · February 25, 2006 2:18AM

Alright, thanks for the advide guys. Yea, they always say the coins are worth more then they are...maybe I'll buy a slabbed piece at the next show though. And yea, I wasn't going to bid on the medal or the Francs.

291fifth · February 25, 2006 2:19AM

Don't buy raw gold.

mozin · February 25, 2006 4:45AM

I like the French 20Fr Roosters, great design, and cheap compared to gold value. I keep mine around just in case our currency goes bust, and I need certified gold to buy gas and groceries. PCGS/NGC/ANACS/ICG only, and in grades MS63-66, are my recommendation. Stay away from spotted coins, many people will not accept them in the market place.

Also, consider the French Angels, the design just prior to the Roosters. I recommend MS63-64 grades. Angels have the same amount of gold, 0.1867 oz., or about $100 worth of gold. Sometimes NGC gets large submissions of the French 20FR, so when you find one coin, you may well find many.

The coins that you initially asked about, I recommend you forget.

TheRaven · February 25, 2006 5:11AM

My preference is PCGS certified gold coins. I will not purchase raw pre-33 US gold coins. Risks outweight the reward type of thing.

I also think MS coins are the way to go if you are just looking at coins for a type set.

When buying gold...

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