Phase 1 Complete

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gherrmann44

1,581 views

The selling of my problem gold completes the first phase of reorganizing my collection.

Greetings, three weeks ago I wrote of a major shift and reorganization in my collection. This shift in my collection started the day I bought a VG-10 1893-S Morgan Dollar. Since the 1893-S Morgan Dollar represents the most money I have ever paid for a coin, there was no way I could have purchased it without selling something. Oddly enough though, according to Numismedia my 2009 Ultra-High Relief St. Gaudens Double Eagle is currently the most valuable coin in my collection and $250 higher than the 1893-S. This seems odd to me because when I bought the UHR, I bought it at the original issue price of $1189. Naturally, I did not sell this coin to obtain the 1893-S since it is a key coin in my collection.

The coins I sacrificed did not appear in any of my registry sets because they were problem coins in ANACS holders. The coins, a Liberty Double Eagle, Eagle, and Quarter Eagle with an Indian Quarter Eagle and a Type 1 and Type 3 gold dollar all sold on E-Bay this past week. Since they were problem coins, I did not get the best prices, but they all grossed above the current melt value. Furthermore, since I have owned these coins for many years, I made a handsome profit on the lot. Through this sale, I netted enough to pay for the 1893-S and the E-Bay and PayPal fees with a hundred or so dollars left over. Overall, I must say that I am happy with the results.

Now it is on to Phase 2. Because the cost of keeping up with the First Spouse ?-ounce gold coins at a rate of four a year is prohibitive, I am discontinuing and liquidating most of the collection. Once again, because the four Liberty versions of these coins are key coins in my collection, I am keeping those and selling the rest. With the proceeds, I intend to replenish the gold coins I sold with nice mint-state coins and add a few more Morgan keys to my collection. Perhaps, if there is any money left over after that, I can pay off some of my bills.

In addition to the gold weight, many of the coins I am selling have hefty premiums above their current melt value. In fact, the Julia Tyler coin alone will come close to buying a nice common date Liberty Double Eagle. Since my coins are all graded PF-70, I should be able to get top dollar for them.

I think I will be selling my coins as a lot directly to a dealer. I have a few dealers in mind that will give me a fair price that is better than I could get on E-Bay or as a consigner after my seller fees. In fact, one dealer sells many of the coins I am looking to replenish and I might be able to work out an equitable exchange. Additionally, I bought most of these coins when gold was much cheaper, so I should make a handsome profit.

It is a shame that I am selling off coins that I like, but if I cannot have all the First Spouse coins, I will have none of them. The First Spouse coins always seemed to me like a set, and maybe this is one reason why the mint can?t sell them because there are so many people like me who cannot afford the set. Since I can?t complete a set of gold coins, I will be completing a set of medals. Attached is a photograph of a Dansco Album page of First Spouse medals, or in other words, the poor man?s alternative! After all, it?s nice to have alternatives, like the lustrium cubic zirconium Green Bay Packers official stockholder Superbowl championship ring that I will be purchasing soon! Until next time, happy collecting!

Gary

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