Potential of an 1882 CC $10 Liberty Gold Eagle?
ChOsEnOnE
Posts: 44
I was just posting this to get opinions on my 1882 CC $10 Liberty Eagle NGC AU55. Basically I want to know from people with knowledge if this coin is good for investment purposes? I obtained it a while back by trading in my 1926 $10 Indian MS64 & 1901 $10 Liberty MS64 along with some cash. I wanted the coin, because I was trying to do something that could benifit my family down the road. I'm always trying to make my kids future better if I can, but I guess we all do that.
I've posted this on another site, but would like different opinions so thanks in advance for any help you guys could give with basically easing my mind.
THX!
I've posted this on another site, but would like different opinions so thanks in advance for any help you guys could give with basically easing my mind.
THX!
0
Comments
Buy Doug Winter's book on Carson City gold coins, study Heritage and ANR auctions, read Rusty Goe's book on the Carson City Mint, review the auction catalogs of the major Carson City gold sales, and look at as many Carson City gold coins as you can. If you do the above for a year, and study hard, you might be in a position to know which coins present the best opportunity.
I laud your effort to improve the financial circumstances of your children, but I am afraid this is not the best way to go about doing so. Sorry.
<< <i>I am an avid collector of better date gold coins, and my advice to you is to learn about the coins and collect what you enjoy. If you have to ask on a forum whether a coin is a good investment, you are not going to do well investing in coins.
Buy Doug Winter's book on Carson City gold coins, study Heritage and ANR auctions, read Rusty Goe's book on the Carson City Mint, review the auction catalogs of the major Carson City gold sales, and look at as many Carson City gold coins as you can. If you do the above for a year, and study hard, you might be in a position to know which coins present the best opportunity.
I laud your effort to improve the financial circumstances of your children, but I am afraid this is not the best way to go about doing so. Sorry.
That's pretty good advice - are you *sure* you're a Steelers fan?
<< <i>
<< <i>I am an avid collector of better date gold coins, and my advice to you is to learn about the coins and collect what you enjoy. If you have to ask on a forum whether a coin is a good investment, you are not going to do well investing in coins.
Buy Doug Winter's book on Carson City gold coins, study Heritage and ANR auctions, read Rusty Goe's book on the Carson City Mint, review the auction catalogs of the major Carson City gold sales, and look at as many Carson City gold coins as you can. If you do the above for a year, and study hard, you might be in a position to know which coins present the best opportunity.
I laud your effort to improve the financial circumstances of your children, but I am afraid this is not the best way to go about doing so. Sorry.
That's pretty good advice - are you *sure* you're a Steelers fan?
To the bitter (bitter...bitter...) end.
<< <i>I am an avid collector of better date gold coins, and my advice to you is to learn about the coins and collect what you enjoy. If you have to ask on a forum whether a coin is a good investment, you are not going to do well investing in coins.
Buy Doug Winter's book on Carson City gold coins, study Heritage and ANR auctions, read Rusty Goe's book on the Carson City Mint, review the auction catalogs of the major Carson City gold sales, and look at as many Carson City gold coins as you can. If you do the above for a year, and study hard, you might be in a position to know which coins present the best opportunity.
I laud your effort to improve the financial circumstances of your children, but I am afraid this is not the best way to go about doing so. Sorry.
Well I knew it was better than my 2 common date eagles & at the time I was told it was a good investment, but like I said I just wanted an opinion now vs then of some who know about this coins potential. I was really just looking for opinions of the coins potential nothing more nothing less. I would like to learn more about the coin, but I've had no luck finding anything meaningful.
<< <i>
<< <i>I am an avid collector of better date gold coins, and my advice to you is to learn about the coins and collect what you enjoy. If you have to ask on a forum whether a coin is a good investment, you are not going to do well investing in coins.
Buy Doug Winter's book on Carson City gold coins, study Heritage and ANR auctions, read Rusty Goe's book on the Carson City Mint, review the auction catalogs of the major Carson City gold sales, and look at as many Carson City gold coins as you can. If you do the above for a year, and study hard, you might be in a position to know which coins present the best opportunity.
I laud your effort to improve the financial circumstances of your children, but I am afraid this is not the best way to go about doing so. Sorry.
Well I knew it was better than my 2 common date eagles & at the time I was told it was a good investment, but like I said I just wanted an opinion now vs then of some who know about this coins potential. I was really just looking for opinions of the coins potential nothing more nothing less. I would like to learn more about the coin, but I've had no luck finding anything meaningful. >>
No one here can give you an answer that is both credible and accurate. For rare date gold (and other) coins, you have to study yourself.
Here's a good place to start.
Your coin is a low mintage coin, it was minted in Carson City, and it's a pretty nice grade for that particular date and mint mark combo. While their are no sure things in numismatics......I believe the coin you are holding is as solid an investment as you are going to find without spending a few million bucks. I think the advice about studying up on the coin and coins in general before investing any more funds is the best advice one could give but again.......the coin you have is a solid coin that should at least retain it's current value with the popularity of gold and CC coins in the general market place.
Good Luck!
Having not seen the coin, not knowing how much the buyer paid for the coin, and knowing what you know about the intracacies of Carson City eagles and their market, what leads you to believe that the coin is a "solid investment". I am asking because there is a very nice AU-58 on the open market, and if it is indeed a "solid investment", I would like to know, so that I can secure the coin tomorrow.
Thanks,
RYK
Edit: Here's a photo of the coin available:
Supply and Demand as we learned in school....
Small supply....especially when we factor the grade into the equation as we know that only 35 coins have been graded higher. Large Demand......pretty much anything with a CC has a strong demand in the market place and when you considerit's a scarcer gold issue (low mintage)....that only adds to the demand.
So if I was going to invest my money into a coin with hopes of longterm growth then I would be looking for just such a coin
The cost of the coin is now irrelevant since he already owns the coin so any potential damage is done.....unless you feel his coin is going to depreciate in the current market palce.......which I personally don't feel is the case. I don't have a crystal ball to see how much the price of the coin is going to jump in the next 5 to 10 years, but I would feel comfortable in providing an opinion that a scare and popular coin like the 1882-CC should fair well long term and might even appreciate with the popularity of gold right now?
My #1 Low Ball Peace Dollar Set
I want to start by saying that I think that the 1882-CC $10 is a great collector coin, a coin that is considerably more scarce that any coin that most collectors own and one that has ties to romance of the Old West. These are the types of coins I like to buy for my collection.
The fact is, I really do not know the answer to the OP's question, but for the sake of argument, I will present the other side of your support for the investment potential of said coin.
The 1882-CC $10 is the 10th rarest of the 19 Carson City eagles, and the rarest coin outside the 1870's dates. Doug Winter estimated that there were 125-150 pieces known in his 2001 book, Gold Coins of the Carson City Mint. My guess is that the actual survival population is on the high side of that range or, perhaps, a bit higher.
The Trends/Coin Values "retail" price for this issue has been flat since 2000 (no data before 2000) at $7000. There were four unique choice AU specimens sold by Heritage this year, in the $3000-$5700 range. Looking at price histories at Heritage, this issue has been pretty flat since 1995. If you consider grade inflation into the equation, it probably has risen, but has likely lagged the overall coin market substantially.
The coin suffers from the fact that it is not as rare as the celebrated 1870's dates but more scarce than the later dates in the series. If I were looking to buy a single nice Carson City eagle, I would buy a high grade 1891-CC, by far the most common date in the series. If I wanted a little better date for my single piece, I might pick 1880-CC (I have owned one of these in the past). If I wanted a really cool date, I would pick one in the 1870's, as rare date gold people know that these are the toughies. The 1882-CC is relegated as a non-sexy date that is more expensive than the "type" date (1891-CC).
There are not many date collectors of Carson City eagles. I would guess that there are considerably more date collectors of Charlotte, Dahlonega, and New Orleans gold by date. Some of the problems with collecting Carson City eagles include: 1) Lack of available coins; 2) Many expensive coins, especially the 1870-CC, as well as other 1870's dates; 3) Lack of promotion, which is in part related to "1)".
Of course, there will always be a market for Carson City gold coins, and there is a good chance that rising gold prices will increase the demand and price for such coins. I do not believe, however, that it is justified to advise a newbie with generalizations and platitudes just to make him/her feel good about their coin, as in this case.
Two final points to think about:
1. Given the lack of experience of the buyer, what are the odds that the coin is an original, nice-for-the-grade piece that buyers will be lining up to buy when it comes times to sell?
2. Given the liquidity and volatitliy of the generic gold market and the upward trend in gold prices, the OP may have been better off staying in the generics. You do not have to know much about them to make money in them.
I am not trying to give the new guy a warm and fuzzy about the coin....I truly like that particular date and MM even if it may be priced out at current levels. My advice for him would simply be to hold onto the coin if he likes it and is not completely burried in it as far as what he paid or traded.....and of course do a lot of research and reading up on coins if he intends to invest any more funds in this area.
I am somewhat bullish on the CC gold right now as I have been looking at the market with the hopes of acquiring a nice piece in the next few months. I certainly would not consider my knowledge of gold to be on par with any of the serious gold collectors on these forums, but I do read a lot and feel like my background in collectibles in general have allowed me to make a heck of a lot of good choices when it comes to my coin purchases. It is with that knowledge that I am making opinions on this coin, but in no way would I feel comfortable telling someone to ever make an investment into anything.......we all have to do our homework before jumping into the fray and your advice and the link you provide go along way towards helping this individual.....I was just hoping others with knowledge such as yourself might provide some thoughts on the coin....