If you were going to collect gold dollars....
1 1

24 posts in this topic

15,013 posts

How would you do it? As part of the decision making process as to which series to go after next, I'm considering the gold dollars. They are attractive, interesting, and unusual - three of my criteria for my next set. However, a complete set is way beyond my price range, so I'm thinking if I do it I'll do a one-per-date set (which looks to be quite affordable with the proper selection of mintmarks). I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive? I have no experience with gold, so this would be a completely new area for me.

Share this post


Link to post
Share on other sites
15,900 posts
I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive?

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s. I've cataloged enough hundreds of these diminutive pieces to know that for sure.

 

Incidentally, the same goes for Indian 2.50s and 5s.

 

 

Share this post


Link to post
Share on other sites
14,311 posts
I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive?

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s. I've cataloged enough hundreds of these diminutive pieces to know that for sure.

 

Incidentally, the same goes for Indian 2.50s and 5s.

 

 

Jason, are you registered with Scotsman? They always have a lot of nice gold in their auctions.

 

Chris

Share this post


Link to post
Share on other sites
28,011 posts
I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive?

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s. I've cataloged enough hundreds of these diminutive pieces to know that for sure.

 

Incidentally, the same goes for Indian 2.50s and 5s.

 

Are these coins that are mentioned pure gold? (999.9)

Share this post


Link to post
Share on other sites
15,013 posts

Are these coins that are mentioned pure gold? (999.9)

 

No, they are coin gold, 0.900. They are classic coins from the mid to late 1800s.

Share this post


Link to post
Share on other sites
6,960 posts

They are not "pure" gold. I believe they are coin metal and that would be 22 karat? I believe that to be correct. That's pretty much 90%.

Share this post


Link to post
Share on other sites
1,259 posts
I guess I should add - if you have any gold dollars, please post them, no matter the grade!

 

1853gld.jpg

 

1857g1.jpg

 

MM

Share this post


Link to post
Share on other sites
14,311 posts
I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive?

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s. I've cataloged enough hundreds of these diminutive pieces to know that for sure.

 

Incidentally, the same goes for Indian 2.50s and 5s.

 

Are these coins that are mentioned pure gold? (999.9)

 

Yep, one mil thick! lol

 

Chris

Share this post


Link to post
Share on other sites
89 posts

There are some really nice AU-58 coins out there. I decided to collect MS coins, but it is much cheaper in AU. Here is one of my favorite $1 gold coins. It is prooflike, so the scratches really show up on this figure, but it looks great in hand.

 

1857-s1f.jpg

 

1857-s1b.jpg

Share this post


Link to post
Share on other sites
1,259 posts

I can remember my grandmother had a few of these in a little snap purse that she kept. It was in the early 60's. I can remember her telling me "Those are now worth about $ 2.00 each!" (She was not a collector, she was referring to the gold value in them)

 

They seemed bigger then when my hands were smaller.....

 

Those were the days....

 

MM

Share this post


Link to post
Share on other sites
11,753 posts

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s.

 

(thumbs u

 

great opportunity and value with these one dollar gold coins that have a fundemential reason to rise in demand.

 

Share this post


Link to post
Share on other sites
11,753 posts

i would go out and buy lusterous, eye appealling non dipped ngc/pcgs au55-58 coins with nice coloration and a good skin to the coin and just collect as many dates as you can get

 

it would be neat even if you cant get all of the dates but as many as you can get

 

 

 

Share this post


Link to post
Share on other sites
11,753 posts

try to get one of each decade and at least get one of the type 2

 

and also maybe like a date say 1876 for the centennial date, a couple of civil war dated coins and so on

Share this post


Link to post
Share on other sites
3,215 posts
They are not "pure" gold. I believe they are coin metal and that would be 22 karat? I believe that to be correct. That's pretty much 90%.

I had to look this up to make sure it is correct...

 

Gold coins minted from 1792-1833 were 91.7 percent gold--just over 22 carat.

Gold coins minted from 1834-1838 were 89.9 percent gold--about 21 carat.

Gold coins minted from 1839-1933 have been 90-percent gold.

All commemorative gold coins have been struck in 90-percent gold.

 

Prior to 1933, the filler used in the coin blanks were 1-part silver to 2-parts copper.

 

The $4 Stella patterns were made of golloid: 6 grams gold, .3 grams silver, .7 grams copper.

 

Current Gold Eagles are 91.67-percent (22 carat) gold. The one ounce gold Eagle contains one troy ounce of gold plus .0909 troy ounces of filler consisting of 2-parts nickel to 1-part copper.

 

Gold commemoratives made since 1982 use the same alloy filler of nickel and copper (2:1).

 

The Gold Buffalo one troy ounce of .9999 fine gold (24 carat). The .0001 filler is copper.

 

I hope that helps.

 

Scott :hi:

 

Share this post


Link to post
Share on other sites
1,652 posts
I suppose my question really is - if I do it, would it make more sense to do an AU set, or a MS-60-62 set. The later dates get pricey, but does AU gold look attractive?

Heck YES! I would strongly urge collecting in the AU-55/58 range, since such gold dollars are essentially indistinguishable from alleged MS-61/62s. I've cataloged enough hundreds of these diminutive pieces to know that for sure.

 

Incidentally, the same goes for Indian 2.50s and 5s.

 

 

Jason, I bought two 1853 gold dollars many moons ago, both certified by NGC as AU-58.

 

One is a beauty while the other is just nice. Oddly enough I never photographed either of these. Perhaps one day when spare time permits.

 

So, to answer your question, I agree completely with James and Michael, you do not have to buy MS coins to get really nice ones. But you do have to sort through the AU grades to find the real winners.

Share this post


Link to post
Share on other sites
10,742 posts

You might consider staring with a one a year set. That way you would avoid the frustrations connected with the impossible "C" and "D" coins. I would think that really choice AU to low end Mint State coins would make for an interesting collection. Of course if you could afford it, I'd think about MS-63 and 64. Some of the MS-64 coins, especially, are as nice as some of the coins hiding in MS-65 holders.

 

Finally buy ONLY certified coins unless you are big time counterfiet expert. There have been many counterfiet gold dollars made over the years and one mistake can cost you hundreds of dollars or more.

 

There are two things to remember. Reselling your collection might be hard because so many collectors think "bigger is better" and gold dollars are small. Second think of this as a very long term project. Some dates are easy to find your grade range, but others are not.

 

For example I've been collecting the early half dimes by Red Book variety. I started that collection in 1974!

Share this post


Link to post
Share on other sites
28,011 posts
They are not "pure" gold. I believe they are coin metal and that would be 22 karat? I believe that to be correct. That's pretty much 90%.

I had to look this up to make sure it is correct...

 

Gold coins minted from 1792-1833 were 91.7 percent gold--just over 22 carat.

Gold coins minted from 1834-1838 were 89.9 percent gold--about 21 carat.

Gold coins minted from 1839-1933 have been 90-percent gold.

All commemorative gold coins have been struck in 90-percent gold.

 

Prior to 1933, the filler used in the coin blanks were 1-part silver to 2-parts copper.

 

The $4 Stella patterns were made of golloid: 6 grams gold, .3 grams silver, .7 grams copper.

 

Current Gold Eagles are 91.67-percent (22 carat) gold. The one ounce gold Eagle contains one troy ounce of gold plus .0909 troy ounces of filler consisting of 2-parts nickel to 1-part copper.

 

Gold commemoratives made since 1982 use the same alloy filler of nickel and copper (2:1).

 

The Gold Buffalo one troy ounce of .9999 fine gold (24 carat). The .0001 filler is copper.

 

I hope that helps.

 

Scott :hi:

Great info! (thumbs u

Share this post


Link to post
Share on other sites
3,055 posts

Another "tangent" to consider is to put together a full set (nine in total) of the Pre-1926 $1 gold commemoratives. They are scarce, yet a complete set can be assembled at a relatively affordable price. The prices have come down quite a lot in the last few years.

 

Best of luck.

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
1 1