What type gold coin to buy??

[willpond & LLK]

My daughter LLK wants to invest her clad detecting money in a gold coin. We are coin hunters/hoarders not offical collectors. We would like to know what type coin(s) to buy as an investment for her future, old, new, raw, slabbed, can you help us? Thanks in advance!

 

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[bnsfhobo]

my vote would be on the American Gold Eagles. Depending on the amount of money you want to spend you can get anything from 1/10th oz for $100 or less up to the full oz with 1/4 and 1/2's in between. Dont mess with "graded" coins with these that sell for a premium.
Plus they are a really nice looking coin!

Hugh in OKC

 

[bradyboy]

I agree
But, why not open a IRA, mutual account
Ive had great luck with vanguard
Its called compound interest - that's the magic word
check it out
Ive have invested heavy on coins but the best LONG TERM investment would be the compound interest with said funds
with coins, your always going to take a hit when trying to sell them, below the market value

 

[kds99]

depending on how much she wants to spend you can get a ms62 st gaudens for 1200 or so. If you go with rare coins you want something slabbed by pcgs or ngc.

with rare coins you dont have to take a hit selling them, just consign them to one of the major auctions you can negotiate the sellers premium down to nothing if you have enough. the most it would ever be is 5%

 

[willpond & LLK]

Thanks for the help! We have the compound interest concept covered, in other investments. She wants to spend her common clad metal detecting finds on coins for her small but growing collection. Being a girl she is leaning toward GOLD!

 

[FCCDFEd]

All of the previous poster are correct and have great suggestions, but beware and buy from a reputable coin/memorabilia dealers and check with several before making the purchase. I have bought silver eagles off ebay and there are a lot of good sellers, but it only takes one time to get stung and really turn ya around about ebay. I know cause a just got stuck and I'm now in dispute over one coin and 1 bad seller. Luckily in only out $23, and with pay pal I might recover some of that. I'm really gun shy now and am very leery.

fccdfed

 

[jud]

Depending on your budget the new $5 $10 & $25 gold buffalo's are beautiful new coins and I think the new small denominations will do well with value over the years. We wont know mintages for a while yet, but I bought several myself and i love them. lean more toward the $10s and $25s.

Small denom. libertys and even the older indian eagles are great old coins. But again i stick with smaller denominations. Unless its somthing rare, most 1 oz coins go about 10-20% over melt. Smaller denoms of these older coins ive seen higher percentages per coin plus you get more coins for the same investment as one 1 oz coin.

Obviously coins with lower mintages are usually best, this goes for old and new.

Grading is nice for rare coins, low mintages, & proofs/mintstate's. But when it comes to the newer coins you can almost always find graded coins for about the same as non graded.

Last but not least, ebay - it can be a great place to buy, but be ware. If its seems way too good to be true, it usually is, but otherwise ive bought coins for over 10% below melt, gold and silver.

The newer $5 gold eagles can easily be acquired below melt and some people are unknowingly dumping off ones with fairly lower mintages. Great buys when you can buy 10 of these for less than melt as opposed to a 1oz coin at 5-10% over.
Now granted gold is down right now, these percentages have shrunk a little im sure, but still a good time to buy if you ask me. At just over $800 an oz, i dont see it getting much lower ever again.

 

[Cannonman17]

I say buy old Liberty 2/12$ or 5 or 10 or even 20$ coins! They come with a super tiny premium over melt value yet are a major part of our coin history here in the States. EVERYBODY collect St. Gaudens and many collect the Indian series...and thus the inflated prices. Why not get an authentic OLD coin that has circulated from hand to hand for little more (if anything at all) above the melting value? At least go check them out, I think they are a beautiful coin and a super deal still at this point.

 

[washingtonian]

My personal favorite gold coins are the gold indians. They were minted from 1908 to 1929 and are fairly inexpensive when compared to other gold coins. They are made in the 2.5 $ and 5 $ versions.