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US gold for the novice


thedeadpoint
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The two coins I credit most with giving me the coin-collecting bug are shown below. I can't remember exactly what prompted it, maybe a few coins an aunt gave me that I showed interest in, but my dad pulled out a handful of coins from his dad's collection. His dad's collection had been long broken up among the family and I've never seen most of it. However, my dad gifted me his portion and they were my first coins of value.

 

These are the first gold coins I ever saw and the only ones I own. They aren't glamorous but they still retain that intrinsic elegance all classic or gold coins have.

 

1881-S half eagle

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1893 eagle

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Even the "names" of the coins are great to the ears of a young boy fascinated with that era of US history.

 

As I said, I call these the first coins in my collection, my first gold coins, and my only gold. My question for you is, for new or young collectors, which gold issues (if any) are considered "must haves" for a well-rounded collection?

 

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I remember the first time I held an eagle outside of a holder and being shocked at the heft of it. It was out of my range, unfortunately.

 

I do like gold 1 dollars - they're kind of cute.

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For a young collector, I'd look to modern commemorative gold and gold coins common enough to be trading at bullion value. The modern $5 coins are plentiful in great condition. Many have terrific designs and the pricing is not too bad. Caution here: watch the sellers on ebay. There are counterfeits of even the most modern gold coins. Probably go with PCGS or NGC if I wasn't able to discern the counterfeits myself.

 

Aside: About 1 year ago one of the officers of the local club met with me for coffee and to discuss some gold he had purchased for his kids. All were modern commems, all purchased from reputable dealers, none were certified. His daughter had submitted 4 or her coins at a FUN show to have them graded by NGC - she likes their slabs with the gold in them. Anyway 3 or the four came back as counterfeits. This guy has been dealing coins and collecting for almost 30 years. So not a novice. (By the way, I couldn't tell they were fakes either).

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thanx for the info Art, i was thinking of getting some more

 

I'd get them but be careful. Stick with slabbed coins and/or reputable dealers. I don't even want to discuss the possibility of counterfeit slabs or counterfeit coins in slabs.

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For a young collector, I'd look to modern commemorative gold and gold coins common enough to be trading at bullion value. The modern $5 coins are plentiful in great condition. Many have terrific designs and the pricing is not too bad.

 

Great suggestion. Those, personally, don't feel like coins to me. They don't have a classic look or flavor to them. It's like a new mustang versus an old one. Yeah, the new one is nice and shiny and legitimate but it doesn't have the classic aura.

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It’s good to know that coin collecting runs in the family. I guess your father should be the right guide in assisting you with the best collections. However, you must try your hands on completing either of the series of $10 Liberty coin reigning from 1838-1907 or series $5 Liberty gold coin that reigned from 1840-1907.

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It’s good to know that coin collecting runs in the family. I guess your father should be the right guide in assisting you with the best collections. However, you must try your hands on completing either of the series of $10 Liberty coin reigning from 1838-1907 or series $5 Liberty gold coin that reigned from 1840-1907.

 

Unfortunately, I haven't had much guidance from any family member. It's been all my own doing (with much much much help from CP).

 

Why do you suggest having a whack at those two? That's a great idea. Where is gold now?

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