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searching4silver
Penny Pincher Member
111 Posts |
 Posted - 07/16/2009 : 08:35:57
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I have neevr bought any gold. I have bought alot of silver in the past year, but never bought any gold. At a local coin shop I was at this weekend they had a bunch of gold coins. Some of them were gold indians. I am not sure if they were $2.50 or $5 peices. But if I remeber correctly they were in the high $100 to low $200 range. Would anyone know if that is a good price? and do these older gold coins have a numistic value in addition to their gold content? I have tended to buy silver for bullion purposes in the past. Thanks for your help.
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 07/16/2009 : 08:58:37
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these are the melt values for today.
1908-1929 Indian Quarter Eagle $2.50 $113.63
1839-1908 Indian Half Eagle $5.00 $227.26
these do have some numismatic value also. Apmex was selling some 5 dollar pieces for 350 plus on some unslabbed. then they had some for 260 plus for the quarter eagle. a year mintmark would be good to know when you go in. check the redbook for key dates and make sure none of his are key. I would say expect to pay around 200 for quarter eagle and around 300 for half eagle in most places, and that is if they are not worn out.
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Inquiring minds want to know |
Edited by - daviscfad on 07/16/2009 08:59:05 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 07/16/2009 : 09:02:37
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quote:
Originally posted by searching4silver
I have neevr bought any gold. I have bought alot of silver in the past year, but never bought any gold. At a local coin shop I was at this weekend they had a bunch of gold coins. Some of them were gold indians. I am not sure if they were $2.50 or $5 peices. But if I remeber correctly they were in the high $100 to low $200 range. Would anyone know if that is a good price? and do these older gold coins have a numistic value in addition to their gold content? I have tended to buy silver for bullion purposes in the past. Thanks for your help.
Indian Head gold was minted from 1908-1929 in $2.50 (1/4 Eagle) and $5 (1/2 Eagle) denominations. The Indian gold around $200 had to be the $2.50 (1/4 Eagle) gold. Each $2.50 gold coin contains .12094 oz of gold (at $937 spot the melt gold value today is $113.32). There is a lot of premium/numismatic value added to the price of these coins. Nice EF $2.50 Indians go for around $250; F-VF $200; AU $300. The 1911-D is the scarce date; $1000+. The rest of the dates are relatively common.
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 07/16/2009 : 16:54:52
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Most gold eagles sell for much more than thier gold content value. The gold recall and ban of 1933 made people think they were rare and valuable. Most that you find on the market were outside the U.S. from the 1930s to the 1970s.
Watch them there are a lot of counterfit coins out there as well. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 07/16/2009 : 16:59:09
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| If you're interested in gold, that's not the completely best way to invest. |
Trolling is an art. |
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searching4silver
Penny Pincher Member
111 Posts |
Posted - 07/17/2009 : 07:06:18
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I think that is part of the allure of these coins for me. My grandfather had to fork over his gold to FDR back in the 30's. Now maybe I can get some of it back! The older I get the more I understand why the men in my liniage have been Republicans since 1860.
How would I tell if these coins were counterfit?
What other ways would you suggest to invest in gold? |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 07/17/2009 : 19:13:01
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I have purchased several raw i.e. not slabbed $2 1/2 dollar Indians off eBay only ot find some were cleaned and some were fake! Yes, I said fake. Granted the $2 1/2 Indians are not as bad as the $3 fakes but there are still out there.
In my opinion: You might want to stick with a bullion coin if you are more interested in buying gold to have gold versus trying to play the coin having a numismatic value as well. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 07/20/2009 : 19:00:14
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If you want the gold indians for your hoarde or collection searching4silver, than may I suggest you do the following things-
1. Get a copy of the Whitman Red Book and Whitman Blue Book. The red book is the retail price guide that dealers will sometimes use to sell their coins for.
(Remember, this is a guide book, emphasis on the word guide. Dealers will set their own price on demand. supply, stock on hand, etc.)
The blue book is the guide book that dealers will buy the coin for (again, just a guide.)
Buy both the red and blue book to get an idea of what the spread is for numismatic gold coins.
If you can find them cheaply, older copies of red and blue books are good to have.
2. Look on line to check what the going rate for gold indians are going for (I would avoid using e-bay as a guide, buyers tend to overbid.)
3. Shop around. You would be suprised to see that some dealers sell coins for less than others. Compare prices and buy smart.
4. Talk to the dealer. Coin dealers are sometimes a great source of information. (Some are grumpy, some are friendly, some are grumpy if you don't buy but turn friendly when you do.)
When the dealer isn't busy with customers, ask him or her how to spot fakes, what a real gold indian looks like and what a fake looks like. Granted, even a delaer can get tricked by a well made fake, though if you stick to a gold indian in fine condition you are less likely to end up with a copy.
(Consider this, if someone is going to make a fake coin, which would a counterfieter make, a coin in fine condition that will sell for $100 over melt value or one in mint state condition that will sell for top dollar?)
Dealers know a great deal about coins, and asking them for advice and ideas gives them a chance to tell what they know.
5. Know why you are buying. You have stated that you want gold indians hoping to get one that may have passed through your grandfather's hand, (who is to say the one you buy didnt?)
That is as good a reason as any to buy gold indians.
You should keep in mind that gold indians are numismatic gold, meaning that it is not just a gold coin, it is historical in nature and will alwys have a numismatic/collectable premium attached to it.
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Buying physical gold falls into two categories, bullion gold and numismatic gold. Each type of gold has its supporters and detractors.
Bullion gold is for those who want to have gold to sell someday for a higer price or trade for goods if the dollar collapses. Numismatic gold is held for the same reasons, but if the collapse is years away then the gold can be sold more for its collectable value than just its gold value.
The type of gold you buy has to be the kind of gold that is right for you. If you want just a saleable item, buy bullion. If you want beauty or collectability in your gold, buy numismatic.
Before you buy, learn what you want then try to get the best price. |
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gold questions (gold indians)
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