Are AU gold Indian Heads changing with Gold Spot?

Comments

• mhammerman Posts: 3,769 ✭✭✭

  September 21, 2007 8:04AM

  If you go to ha.com, you will be able to get a feel of how their auction prices are relative to US gold coins. Look at the CU 3000 information on this pcgs site and then look at the dates of the auction sale and then you can get a pretty good idea of what folks are doing. Of course, look at the pictures of the coin they auctioned and then you will notice that they are all slabbed and you can get a feel for the "au" condition. There are a number of au grade breaks so you will also want to get a feel for this and you can read a grading guide that addresses these coins and then have a good feel for what you are looking for and can afford to buy. If you study up a little then take a trip to a show or a shop or two, the visit will be of immense value to your being able to make an informed decision.
  
  It seems like sales prices of the indians lag a little behind spot London gold or Kitco but because it takes a week or two for new auctions to get new spot sensitive reserves built in...but with indians, spot is not so important where as the quality of the coin is everything, particularly with the smooth cheeks, crisp stars, and large fields of the $10's. Nice indians are going to cost you nice money. As for cdn...well it takes a week or two to get new sales completed and reported and then a week or two to get the new copy set up for the publication and then there's the distribution, so don't look for spot changes to immediately appear for a gold series for a few weeks after the fact. Just because the metals markets are real time, the coin industry is what ever it is, don't look for a 1:1 correlation, there are many factors. If you are making a coin bullion play, try the liberties, there's more of them, the common dates are everywhere, you can get a lot of cool coins for just over spot and the common double eagles can be had in au for spot plus the grading fee and shipping and maybe a few dollars...the double eagles are awesome coin. The St Gaudens double can be had in about the same way and they are very available and if you don't smile at yourself the first time you hold one you own in your hand...you should play hockey.
  
  Now, the closer to the dealer or B&M you get, the more they will have their game face on and be all over any significant spot changes and the changes will immediately be put into the new price of anything PM that's being offered. If there is a show and you are live, most of the folk will be right on where they need to be with their prices. It's all good, be patient.
  
  Oh yes, welcome to the boards...now be fruitful and multiply and make a contribution like some photos or stories or something fun.
  
  Coin ON!

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• qwest4 Posts: 13

  September 21, 2007 9:31AM

  A much appreciated response. It never is really that simple is it? Lots of Homework always seems to be the best policy and nothing beats experience.

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• GAT Posts: 3,146 ✭

  September 21, 2007 10:55AM

  I have been watching 1932 $10 Indians in PCGS MS-63-64-65 for a long times. They have barely moved with the increase in gold prices which leads me to believe they are a bad investment. Also a forum member posted that he went to a show and a dealer had a couple hundred of them slabbed. It's a very common coin and I believe way overpriced.

  USAF vet 1951-59

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• oldwestgold Posts: 337

  September 21, 2007 10:57AM

  $455 to $485 seems too low for nice AU $10 indians, AU58 anyway. I've bought several and the average price is around $550. These coins do follow gold spot, but it might not be an immediate jump in price. To me, these coins in NGC or PCGS AU58 are fantastic deals, as many modern bullion coins sell for similar money. Fair warning, nice AU's are very difficult to find, because of their lower cost and popularity of the series. There is a lot of junk on the market, so take your time and pick better coins.

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• AnkurJ Posts: 11,370 ✭✭✭✭

  September 21, 2007 11:01AM

  I bought a $10 Indian on ebay raw for $440 ( yea i know i know, big time risk ), but it slabbed by NGC as a AU 58, and it is a very nice looking coin! Earlier this month a board member was looking to sell a commen date $10 indian graded ANACS MS 61. I picked that up for $480. So they are out there, just have to look.
  
  AJ

  All coins kept in bank vaults.
  PCGS Registries
  Box of 20
  SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!

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