Gold coin suggestion

[seabreeze60]

What is a good gold coin to invest in under $1000?

[Atone]

just get 1/2 oz of any bullion. i wouldn't worry about all the special editions, sealed and all that. it can be hard to get your money back out of those often times.

[MrGoat]

I wouldn’t pay a dime more than current value for any quantity of gold or any other metal. (Unless it’s on a watch or jewelry for the old lady)

Disclaimer- I don’t do much trading in the precious metals market and have been burned selling in the past.


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[pickettt]

Depends...what are your intentions for said coin?

[Handey0465]

You’ll pay a premium for AGEs but can get some of that premium back when you go to sell it...

American Gold Eagles

[seabreeze60]

Thank you!

[YourNameHere]

It depends. I’ll stick with the 4 listed below if you want to buy gold coins.

Canadian Maple, 24k pure gold with very low premium.

Krugerrand, 22k very low premium. Most recognizable gold coin in the world. Downside not pure gold.

Gold Eagle, 22k highest premium. Downside, 22k.

Gold Buffalo, 24k highest premium. Downside, Maple is cheaper. But the Buffalo coin is very beautiful.

I recommend getting 1oz coins as close to spot as possible.

[seabreeze60]

Originally Posted by YourNameHere

It depends. I’ll stick with the 4 listed below if you want to buy gold coins.

Canadian Maple, 24k pure gold with very low premium.

Krugerrand, 22k very low premium. Most recognizable gold coin in the world. Downside not pure gold.

Gold Eagle, 22k highest premium. Downside, 22k.

Gold Buffalo, 24k highest premium. Downside, Maple is cheaper. But the Buffalo coin is very beautiful.

I recommend getting 1oz coins as close to spot as possible.

Good stuff! I am selling some 1881-4 uncirculated Morgans and want to convert into gold.

Sound advice in this thread

[pickettt]

Originally Posted by YourNameHere

It depends. I’ll stick with the 4 listed below if you want to buy gold coins.

Canadian Maple, 24k pure gold with very low premium.

Krugerrand, 22k very low premium. Most recognizable gold coin in the world. Downside not pure gold.

Gold Eagle, 22k highest premium. Downside, 22k.

Gold Buffalo, 24k highest premium. Downside, Maple is cheaper. But the Buffalo coin is very beautiful.

I recommend getting 1oz coins as close to spot as possible.

I'll add:
You'll get none of those in 1 oz. under $1000
Maple Leaves, Krugerrands, and Buffaloes are all reportable....Eagles are not.
Krugerrand is not pure gold, but still contains 1 troy oz. of gold.

[SearChart]

Originally Posted by YourNameHere

It depends. I’ll stick with the 4 listed below if you want to buy gold coins.

Canadian Maple, 24k pure gold with very low premium.

Krugerrand, 22k very low premium. Most recognizable gold coin in the world. Downside not pure gold.

Gold Eagle, 22k highest premium. Downside, 22k.

Gold Buffalo, 24k highest premium. Downside, Maple is cheaper. But the Buffalo coin is very beautiful.

I recommend getting 1oz coins as close to spot as possible.

Originally Posted by pickettt

I'll add:
You'll get none of those in 1 oz. under $1000
Maple Leaves, Krugerrands, and Buffaloes are all reportable....Eagles are not.
Krugerrand is not pure gold, but still contains 1 troy oz. of gold.

Great info gents, thanks

[Mifune]

Under 1k?

none. fractionals always get charged a massive premium.

if you have to, maybe something from mexico.

I say save for at least a full ounce and get a bullion bar

[seabreeze60]

Yep, going to purchase at least 1oz as advised above. Again, great advice. I’m saving a copy of the thread for reference.

[330ci]

Originally Posted by seabreeze60

Yep, going to purchase at least 1oz as advised above. Again, great advice. I’m saving a copy of the thread for reference.

Why on earth would you trade silver in for gold when historically speaking silver is trading at an extremely low ration in comparison and has alot of promising uses in battery tech that is only going to increase the need for it.

The likelihood of silver outperforming gold at this point almost seems like a given, not to mention your morgans are becoming more and more collectible every year. I don't get dollar coins at melt like I used too

[Mifune]

no one knows the future... Technical's DO SAY that silver does have the potential to outperform gold in terms of ROI percentage... Platinum might even be higher. Gold will be more stable and less volatile.

But none of these are really an investment I would get into as a ROI play... they are a Hedge play. Historically Gold is a horrible performer in terms of growth and ROI gain, but it's a wonderful preserver of wealth as a correlation to the US dollar.

Gold can not even match the Sp500 for returns... and none of them hold a fraction against Bitcoin.

[seabreeze60]

Originally Posted by 330ci

Why on earth would you trade silver in for gold when historically speaking silver is trading at an extremely low ration in comparison and has alot of promising uses in battery tech that is only going to increase the need for it.

The likelihood of silver outperforming gold at this point almost seems like a given, not to mention your morgans are becoming more and more collectible every year. I don't get dollar coins at melt like I used too

I fell into some inherited 1881-1884 uncirculated silver dollars that are selling for $350+. See below. New silver dollars are selling for $36 roughly. I don’t want to have bulk silver laying around. Gold is easier to manage, at least the way I see it now.

IMG_0461.jpg
IMG_0460.jpg

[Mifune]

dont pay 35$ for silver these days... try and get it down to 26-27'ish and buy generic or bars of at least 10oz...

compare precious metal pricing.


I just bought one of these to have another 50gm ring made...

[330ci]

Originally Posted by seabreeze60

I fell into some inherited 1881-1884 uncirculated silver dollars that are selling for $350+. See below. New silver dollars are selling for $36 roughly. I don’t want to have bulk silver laying around. Gold is easier to manage, at least the way I see it now.

Attachment 1240172
Attachment 1240173

If you have original government slabbed CCs, I'd send them to PCGS(they can grade them without opening the case now) then you can compare them to the dealer trade sheet and get the most potential value out of them.

For the amount you intend on investing neither are going to be cumbersome to manage. Kilo bars of silver would be a great way to dip your toes in the bullion market.

No matter what you decide to buy. The goal is to pay minimaly above spot for it. Preferably at spot, or when you've developed relationships with as many dealers as I have, you get it at wholesale cost which is generally 96% of melt. Golds a rich man's game though people will gladly pay a 5% premium. but the only times dealers are going to pay above is when the market is so hot the main bullion houses are on backorder.

Best of luck with your Morgans, always wanted one but couldn't stomach the premium myself. They're special coins. If I lucked into those, I'd probably just hold them. The numismatic value of the CC hoard definitely fluctuates, but original government slabbed coins are a niche amongst themselves now as many were cracked open for grading throughout the years. I certainly have seen less and less in the wild every passing year.

[pickettt]

Originally Posted by Mifune

Under 1k?

none. fractionals always get charged a massive premium.

if you have to, maybe something from mexico.

I say save for at least a full ounce and get a bullion bar

100%…….
And there are sales tax exemptions on purchases over $2000, so think about maximizing your buy.

[seabreeze60]

Originally Posted by pickettt

100%…….
And there are sales tax exemptions on purchases over $2000, so think about maximizing your buy.

Thanks. I will dig into the tax issue as I live in CA.

[Fleetlord]

Premiums are too high.

Dealers charge top dollar premiums on the ASK.

Lowball on the BID. Spot or sometimes less (oh those are less desirable now...we have too many...can give you $$$ if it helps you out)

PM dealers remind me of pawn shops in many ways. Pass on all that.

[seabreeze60]

It’s interesting to dig through these coins. Back in 1850’s this was the ticket

IMG_0465.jpg
IMG_0466.jpg

[pickettt]

Originally Posted by Fleetlord

Premiums are too high.

Dealers charge top dollar premiums on the ASK.

Lowball on the BID. Spot or sometimes less (oh those are less desirable now...we have too many...can give you $$$ if it helps you out)

PM dealers remind me of pawn shops in many ways. Pass on all that.

I deal with a LEGITIMATE place in California that at times will pay spot or a little above. Of course, that situation is rare, but it happens.

[MILGAUSS88]

Gold sovereigns, Swiss 20 Francs, Mexican 5 and10 pesos. .900 pure .25oz/.20 oz/.13 oz /.26 oz

[snypa]

Interesting read guys, I have a couple of £100 and £50 coins and a British Guinea from 1794 which I am keeping safe to pass on to my daughter.

Cheers

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[minute_man]

+1 on the gold sovereigns especially those of the Victorian era and early queen Elizabeth era. If you can get a hold of them. Suggest you do some homework on the mint they're coming from so that you could spot possible bargains.

[Time4aRolex]

First question to ask is are you collecting coins/medallions or owning gold?

If you want to own gold buy gold from a reputable dealer. You will pay a little above spot. Very easy to sell.

If you buy collectible coins you pay for the value of the gold and the coin.

Harder to realize the value of the coin when you want to sell.

[Mifune]

it depends on the desirability of that numismatic piece.

as a general rule, some of the federal reserve releases can be collectable over face, the 'made for the market' numismatic pieces are not nearly as much.

this is why most serious collectors/stackers just stack for volume regardless mint or condition... the cheaper the better.

[jerseyb]

To the OP. I would be looking to visit a local coin shop or two. In my experience the best deals lie there. And with cash there is always a discount. And since you're in the US, I'd stick to US Pre-33 gold coins and gold eagles since they are extremely liquid and you will get a better price when its time to sell.

[seabreeze60]

Ended up selling some proof Morgan silver dollars and purchasing a Maple .9999. Sold the Morgan’s on eBay for a premium over the dealer’s offer. Purchased the Maple thru a spot +3% dealer. No taxes in CA on currency purchases over $1500.

[jerseyb]

Originally Posted by seabreeze60

Ended up selling some proof Morgan silver dollars and purchasing a Maple .9999. Sold the Morgan’s on eBay for a premium over the dealer’s offer. Purchased the Maple thru a spot +3% dealer. No taxes in CA on currency purchases over $1500.

Very nice. You did well at 3%.