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Advice on Gold Indian Purchase

VicThrustVicThrust Posts: 322
in U.S. Coin Forum
I have been thinking about buying a $2.5 Gold Indian coin. I think they look nice. I do not know a lot about these coins. I would like a high quality certified coin and my budget is $600.00-$1,000.00. Any suggestions on year and grade for this budget.

Comments

  • ozzyfan269ozzyfan269 Posts: 1,002
    Why not get a $10 Indian? The $2 1/2 is kind of small.
  • SilverEagles92SilverEagles92 Posts: 6,787 ✭
    You could get a 1908 (first year of issue) in MS63 for about $1,000.
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  • airplanenutairplanenut Posts: 22,398 ✭✭✭✭✭


    << <i>Why not get a $10 Indian? The $2 1/2 is kind of small. >>

    Those are two different designs. If it's just the design, I think the $5's typically come cheaper.
    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • SilverEagles92SilverEagles92 Posts: 6,787 ✭


    << <i>

    << <i>Why not get a $10 Indian? The $2 1/2 is kind of small. >>

    Those are two different designs. If it's just the design, I think the $5's typically come cheaper. >>



    Not really. An AU $2.5 can be had for about $220, while the same AU $5 would be closer to $350. The 1908 MS63 $2.5 I referenced for $1,000 is a $2,600 coin as a $5.
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  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    The MS64 $2-1/2 Lib at $1000 is a far better buy in the current market. The Indians are often under promotion so hence the higher volatility and higher prices. The Libs ARE lower pop by a fair amount all the way to MS64....yet the popularity of the Indians in 20th century type sets (and complete date sets) might be why they list for more at times. "No one" builds date sets of Libs as a rule. But during past coin markets the $2-1/2 Libs often brought more money in grades below 65. They aren't being currently promoted.

    I just recently sold a PQ MS62+ 1912 for $850 to a dealer. That date has a nice spread from 62 to 63. Whatever you do I would find a PQ specimen and pay an extra 10%. Just be sure it's PQ.
    There are tons of doggy Indians in slabs either lacking full luster or with too many scratches and hits.

    Other dates that are cheap in MS62 yet double or triple to MS63 are excellent values if you find real nice 62's. This series often sees willy nilly grading in the 62 to 64 range. It is not unusual to be able to purchase raw 62-64 coins with "stacking friction" on the cheek for AU58 money from local dealers. It's an odd coin to grade. Don't ignore ANACS coins either as they can undergrade at times too.
    Don't by an AU in a 62 or 63 holder either. Demand full luster.

    1909, 1910, 1912, 1914d have the best 62 to 63 spreads.

    My 1912 in MS62 cost me $650 (15-20% over bid) and I was happy to get it. It looked better than many common date 63's. No doubt the services expect a little more coin on these better dates before giving away the next grade.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • VicThrustVicThrust Posts: 322
    Thank you - very informative. Not to sound ignorant but what is PQ. My brother-in-law knows these coins well and has worked in the local coin community and we are going to a show soon. He will also be helping me look for the right coin.
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    PQ means a very nice coin for the grade. Having a second set of experienced eye view the coins with you is a good idea. I would recommend a PCGS-certified coin, as well. For smaller coins, like quarter eagles, the NGC holder swallows up the coin. Avoid the third tier slabbers--there is no guarantee that the coin is even authentic, let alone properlygraded and problem-free.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • PerryHallPerryHall Posts: 46,875 ✭✭✭✭✭
    PQ = Premium Quality or nicer than average for the grade.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • VicThrustVicThrust Posts: 322
    I like your sig. pics. I am a Pats fan.
  • BarndogBarndog Posts: 20,515 ✭✭✭✭✭


    << <i>I like your sig. pics. I am a Pats fan. >>



    RYK is not a fan of the Pats, FYI image
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  • VicThrustVicThrust Posts: 322
    I knew he was not a Pats fan.

    And by thew way the Pats videographer frequents this board too. He goes by the name of "RFCoins".
  • fcfc Posts: 12,793 ✭✭✭
    ou could get a 1908 (first year of issue) in MS63 for about $1,000.

    this could possibly be the worst advice i have seen lately on this board.

    MS63 coins in major plastic can be real dogs and not worth crap.
    you better know what you are doing before chasing high end MS
    coins that may very well be AU :-P

    as usual people spend and do not think enough around here except
    the old timers who have been burnt too many times before.

    study, explore, look, before buying. so hard? you are supposed to
    like coins. not an impluse purchase.

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