Should I sell my AGE set? Thoughts please...truly torn.

swest · October 5, 2006 12:54PM

I am a new collector and I am still really defining what I want to collect, etc. My goal is that whenever I get extra money I would buy a coin or such. Then I have been getting excited by all the mint products including the gold buffalo and now the AGE. I was able to order 1 AGE and have another one ordered on the wait list. I am guessing that my chances of getting the second one are slim and none.

This will be the first gold eagle coin / coin set I have ever owned. My original goal was silver eagle proofs while I got to learn more about other coins I am interested in. But I have heard horror stories on the milk spot problem and have started to shy away from Silver Eagles. I have also been getting very interested in $2.5 gold indians. For some reason I am very attracted to that look.

That brings me to my problem. I just saw my status updated as in stock and reserved. So I assume I will be getting the AGE very soon. I have really having a debate with myself over several things.

1) Sell it and smile about clearing 2-3k.
2) Not selling it and hoping it goes up in value (in reviewing the gold eagle history it sure seems they have stayed about the same..a little above melt.)
3) Get it graded (so don't open it) and either increase the value if I am lucky enough to get a 70. Then I can either sell the reverse (if 70) or keep it. But I think perhaps selling it and keeping the other two coins.

I am really torn on this. I could use the cash to buy other coins and honestly that is a pretty nice situation to make 100% on your money before even paying for something. I just can't tell if they will go up or down in demand. Heck, should I decide to sell, i am not even sure I shouldn't sell it today or tomorrow rather than get it graded.

Like I said, I am a relatively new collector but I do my research and I just haven't seen a situation like this with regards to gold eagles. Sure the 1995 set was great but the majority of the value is in the rare Silver Eagle, not the gold. My other thought is sell mine now and if it goes down enough, just buy a new one. Uggg and part of me really says just keep it! That is a really low mintage and I could always get it graded with the goofy first strike designation and then see where things are at.

So give a newbie a bit of advice if you would! Thanks!

Swest

coinman420 · October 5, 2006 12:55PM

sell it to me at cost

edited to add: really you should sit on it for a while if you can. the longer you keep it the more value it will have. i have 1 set "in process" that i know i will never have in hand. keep it.

ddbird · October 5, 2006 12:58PM

Id sit till closer to Christmas...sell it. But a really nice 2.5 Indian or a few nice ones.

UncleWiggly · October 5, 2006 1:03PM

Why don't you sell it and do a type set? At least you'll get to see different coins.

Jerry

swest · October 5, 2006 1:09PM

What I have worked out so far for my plans is to do both investing and collecting.

I want to invest here and there in coins like I did with the Buffalo and the AGE set. Then perhaps sell part of my investment while keeping one for my collection. Gosh I wish I had thought to order more AGE sets. I could of sold a couple and kept one. Then I could get a really cool indian in my collection.

I am completely new to this and am really looking to invest some time over the slower season (I am a real estate broker in Murrieta, CA). Although, we are busy...there is definately a slow down in the 4th quarter and a great time to spend in a fun hobby.

So one part worries about the price dropping after the intense interest dies down. The other part worries about selling a coin set that is truly a low mintage even though Modern. Just hard to figure out which way to go. Is this a coin set that I would be thrilled to leave my boys in 30 years? Or is it something that is just flavor of the month. The mintage numbers really through me off. I wouldn't mind collecting gold eagles as a set but the expense is kinda tough.

TheNumish · October 5, 2006 1:19PM

You're thinking too much. Reality check. What other time in your life can you buy something for $2,610 and sell it for $5,000. Sell it, have some fun with some of the money and use the rest to buy other coins. Chances are the mint will do another reverse proof in 2007 and the sets will crash. On top of all that the reverse proof isn't even a good looking coin. If it wasn't for the 10,000 mintage limit it would have been a dog. Just my 2 cents. I bought many sets and don't plan on keeping any.

swest · October 5, 2006 1:21PM

Maybe you are right. I am thinking about it too much. Darn..wish I had the balls to buy more when I first ordered.

You putting them on ebay before you receive them or would you recommend getting them graded, etc?

obversity · October 5, 2006 1:27PM

<< You're thinking too much. Reality check. What other time in your life can you buy something for $2,610 and sell it for $5,000. Sell it, have some fun with some of the money and use the rest to buy other coins. Chances are the mint will do another reverse proof in 2007 and the sets will crash. On top of all that the reverse proof isn't even a good looking coin. If it wasn't for the 10,000 mintage limit it would have been a dog. Just my 2 cents. I bought many sets and don't plan on keeping any. >>

I'm in kinda the same circumstance and plan to follow this logic. Though this set is really nice and I'm tempted to keep it, there are other more beautiful, less volitile coins I'd like to own. Sell it. Bank it. Spend it slowly.

itsnotjustme · October 5, 2006 1:31PM

If your situation, I think I would sell for double my money, and first do a 20th Century Type Set with gold.

I really face the same dilema on my sets.... Grade and Sell? Or Grade and Hold? Grade and Sell any 70s? Hold Sealed? Hold Open Box? Sell Sealed Box? Sell some open box?

There really are many options. If they arrive in time for FS, I think part one of the decision is Grade. I think once I grade, I will be compelled to sell any 70s. Then figure the rest from there.... keep some mid term perhaps.

swest · October 5, 2006 1:35PM

I am leaning toward grading and hoping the prices stay up there. I feel silly since I KNOW the first strike stuff is nonsense. However, I have seen the price difference on Ebay of first strike and non-first strike. And when you consider that NGC isn't doing First Strike on these, the possibility is pretty interesting.

I think it would be wonderful to be lucky enough to get a 70 on the reverse. Sell that one and keep the other two coins with their Anniversary labeling. That would be the best situation in my mind. If the price of the Reverse goes down, I will buy one again and still have money left over to invest in other coins that I really would like to keep.

I just hope the market stays up while I wait for the grading

. Now I have to join the club and get the membership..so PCGS will win that way lol.

robertram · October 5, 2006 1:49PM

SELL! Buy a 1909 S VDB with the profit and then work the remaining funds-buy monster box of SAE's and get them graded and sell pf70s for $145 and 69s for $39 each within 3 weeks of these release-make a killin like i did last winter-

aficionado · October 5, 2006 2:40PM

Don't be over optimistic about having 3 70's come in your one set.

70's are very few and far between.

I'm sending two reverse proofs for possible 70's to PCGS. A couple other Reverse Proof are boarderline. None of the Unc or regular proofs would be a 70 at PCGS.

Getting a 69 is as good as selling them ungraded. Personally, I wouldn't bother with the grading.

Cashing in is up to you.

Good Luck.

I wanted to add, if you are planning on selling, an unopened box may sell for more than an opened one.

oreville · October 5, 2006 3:13PM

swest:

Send them in unopened box to PCGS for grading NOW as first strike.

If you get only 69's no big loss, possibly a slight gain as just the grading fees is your cost.

If you get any 70's then you may want to consider selling that piece in exchange for $$ and an equivalent 69 graded piece.

But hold off on any final selling decision as you are unable to do anything while the coins are PCGS for grading anyway.

FullStrike · October 5, 2006 3:43PM

No one ever lost money by selling at a profit.

garsmith · October 5, 2006 4:28PM

<<Should I sell my AGE set? Thoughts please...truly torn.>>

No, you can have a give away instead

garsmith · October 5, 2006 4:34PM

<<My original goal was silver eagle proofs while I got to learn more about other coins I am interested in. But I have heard horror stories on the milk spot problem and have started to shy away from Silver Eagles.>>

I started with proof ASE's and expanded greatly from there. I have never gotten a proof ASE with milk spots. I have one roll of each years issue for circ strike ASE's and some of these coins (maybe 2%) have milk spots.

One thing you need to decide is are you a collector or an investor- most of your post sounds like you are leaning towards being an investor!

tychojoe · October 5, 2006 9:16PM

<< <<If you get any 70's then you may want to consider selling that piece in exchange for $$ and an equivalent 69 graded piece. >>
>>

I think Oreville hit on the best of both worlds, if such a buyer can be found.

Preussen · October 5, 2006 9:23PM

<< One thing you need to decide is are you a collector or an investor- most of your post sounds like you are leaning towards being an investor! >>

- Preussen

notwilight · October 5, 2006 9:27PM

<< 

<< One thing you need to decide is are you a collector or an investor- most of your post sounds like you are leaning towards being an investor! >>

- Preussen >>

Sorry but this type of behavoir is much better described by the term "speculator" than "investor", not that there is anything wrong with that...I may have made a few bucks on proof buffalos and AGEs myself. --Jerry

swest · October 6, 2006 3:35AM

In terms of investor or collector.

I definately have the collection bug, there is no doubt about it. I think I am struggling with focus. However, I don't think investing or profiting interferes with collecting. I just need to decide what I am going to collect. The profits from something like the AGE set would be additional funds for collecting. As far as I am concerned, the money just stays in the hobby.

As of right now I think I will slowly continue to collect ASE proofs and work on finishing the set. I do have 1 PCGS slabbed PR69 that has a milk spot on it. So that took me back a little bit.

I also think I will be spending time learning about the $2.5 gold indian. I really and I mean really find myself drawn to that design. But there is no way I can afford to take on the $5 coins too. I need to learn more about them so I can feel more educated and they are also somewhat limited in terms of span of issue like the Silver Eagle.

I have been doing a lot of thinking and even changed my avatar to reflect me focus

. Now, I just want to learn about them. I have heard a lot of how they have really come down in price from summer so this might be a good time to start my collection.

As for my AGE. Although I am a member of NGC. I think I will open a membership with PCGS today and I do plan on getting my AGE set graded and designated and then go from there. I really appreciate the info and thoughts you have all supplied. I also ordered my first box of halfs from the bank for me to start going through. I like the idea of hunting for specific coins at a low or no cost. The hunt is very fun and I think I will create a half set for my boys and I to keep updated in the years ahead.

That energy will keep me from going nuts trying to buy gold coins I can't always afford

.

Swest

quarterguy · October 6, 2006 6:21AM

pm sent

Should I sell my AGE set? Thoughts please...truly torn.

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