CoinWeek IQ: Collecting Gold Coins: Tips for the Rest of Us
Vložit
- čas přidán 6. 07. 2024
- Collecting gold coins is a pinnacle activity in our hobby, but many people shy away from it due to their perception of the cost involved.
Is collecting gold coins really beyond your means? Noted gold coin expert dealer Doug Winter doesn't think so.
In this CoinWeek IQ video, Doug and Charles discuss ways you can get into gold coins and which types offer the most value for your collecting dollar.
We look at all types of U.S. gold coins, from gold dollars to $20 double eagles and everything in between.
If you have a stack of Morgan dollars in your collection that you do not want, odds are you can afford to buy at least one of the coins discussed in this video.
(c) 2018 CoinWeek
I could listen to this conversation all day.
You seem to be someone that has an interest in gold. Surely if the economy does crash and gold 10xs it doesn't matter what coins you have as long as its high grade gold?
Trying to understand your comment. Are you saying that if the economy crashes and gold goes up in value by 10x then only high grade (fineness) gold goes up in value? Or only gold coins in high states of preservation will go up in value? On the former point, even low fineness gold goes up in value when gold goes up in value. On the latter, if an economic crisis makes gold explode in value - then numismatic value for all but the major rarities becomes moot.
Truly a genius ... who’s gracious enough to educate.
Martin Farmer, to your point; I see a different mindset. Gold coin rarity’s collective value has nothing to do with bullion prices. My take away is to correctly budget ... there are many sleepers and Gold is possible to even a twelve year old collector.
This man is awesome. What knowledge. Thanks guys. This was very informative. One of your best videos ever!!!!
Enjoy listening to opinions of well informed individual. Learned quite a bit about pre-33 coins listening to Doug Winter. Thank you.
The best type of content! Will watch it more than once. Thanks Coinweek!
Tip #1: start with lots of money.
11/2018 spot $1,193
06/2021 spot $1,915 w/$130 premium. Almost doubled in under 3 years
Keep a well balanced in storing wealth /investing I would do around 20-25% in Gold /Silver ,the rest Rentals ,Stocks ,sprinkling of Bonds .
Liberty III are one of my favorite coins, and I agree on the St. Gaudens.
The Tens are really overlooked with whats available.
This was one of the best most informative videos yet. Great topic thank you!
Keep these kind of videos coming absolutely love them thanks
Thanks for posting this! I always enjoy listening to him and thank you Mr. Winter for all the hard work you have done in the field of numismatics.
Heyyy 😂
This video has so much good information packed in, thanks so much for sharing!
I want an updated version of this since gold is now 1750 per oz
I don't think any of the opinions given changed. Only thing now is the cheaper gold is slightly more expensive while the expensive gold is roughly the same price.
Yessss
Really open discussion on collecting gold coins. I found this discussion very useful.
The $20 Liberty is my personal favorite.
10:31 may be the best truthful fact statement in coin collecting!
Excellent video! Thanks for sharing!
This is real gold video about old gold coins collection！ Ty!
I can guarantee that the St. Gaudens $20 is the gateway drug. I got that first not intending to get another, then a St. Gaudens eagle, next I'm building a full gold type set.
Great interview. Doug is helping me collect $10 Lib Head No Motto CAC's.
Great interview ! Have all of his books. They are all fantastic
Very Cool, Thanks for the education in gold coins !
This video should have Millions of Views........ I smashed the like button.
Thank you. Loved the insights,
I collect coins with seahorses/hippocampi on them and was delighted to get a Pan-Pac $2.50 at Winter F.U.N. a month ago. So it was great hearing the shoutout for it here :).
What an informative video. I took notes
This video alone is info many people charge good money for. Thanks for this one!
Great interview
very informative and educational video
Great interview!
I plan on collecting both constitutional silver as well as pre 33 gold.
I used to collect numismatic gold coins too subjective for me, I stack Bullion only right now I could catch the fever and go back to buying numismatic gold I do like the 20-dollar high relief a lot!!
Remember GOLD is your FRIEND
That sounds like something Ebenezer Scrooge would say.
Remember, for this friend, need money...
Great video very informative.. I consider men like him a the true Patriots of this country for sharing there wisdom . To all us goem, who have been blinded by consumerism and bs . Thank you because he could be like the rest of the learned 1% and hide his knowledge .
Great video!
This was great thanks!
Best video on this channel
That was a great video
I like the older double eagles the reverse is my favorite side that’s the next on my radar .
Now I just have bullion gold
Coin collecting and stacking is amazing, womble stacker uk
Subbed
Good luck with your channel
I'd love to have 20 - $1 gold coins
What a refreshing interview. Something other than AGEs and GMLs
I like AGE because they have that saint gaudens design. So classic. Just as nice as a pre33 coin imo. 22k is best!
Great video. I'm one of those collectors that has very little gold, mostly because its cost so much more, at least in my mind. I have spent a lot of money on silver as well, but I would love to add some gold eagles to my collection.
Save up. I only buy one coin every 3-4 years but when I do, it's a really nice one.
That video is a pure jewel.
Purely splendid
Lol! He said the Gateway Drug!
Lol
Thank you.
going through some old vids
Nice !
wow amazing
Great informative video and thanks for sharing. I noticed the word "GEM" is thrown around a lot on auction sites and this video concerning coins below the true gem grade of MS65. Am I just looking at this too deeply rather than just taking it as a figure of speech meaning just a nice coin? I am new to coins and read that gem starts at MS65.
Correct, the term "gem" is usually reserved for a coin that grades 65 as opposed to a "choice" which is 63.
I love your coin 😍 Benjamin Franklin half dollar
thank you for very good video I like colect all the coins you should have 5 certified 1857 Au58 and ms63 1897 and 1897s I bought a few and I think they will you reminded of when guy said do you like gold dollars your all happy and say I got the best collection congratulations and then he said do like quarter Eagles I love them how about 3 dollar gold coins I just liked how accited just like me and 20 dollars have have fun collecting and I wish you the best
Nice
I have a 1878 20 dollar liberty double eagle that's in almost ucc. What is the best way for me to find out what It's value
We are collecting $5 Gold Incuse Indian Coins!
What do you think about grading THE 1908-1915 Gold Indians ?
WE Are Interested In The $5 1910 -S mint for $525 ? Why Not Raw vs Graded AU58-MS63?!
Great!
GREAT 411.!!!
what makes the video is the convention or "white noise" in the back..
excellent
Great video.. just added my second gold coin this last week. 1905 ms63 cac
i get type 1,s 2, and 3s for the same price pretty much spot.. not all dates but most from my LCS..
BTW WHO in their right mind would want to collect tons of $1 gold coins.. when the premiums are ridiculous..
We appreciate the knowledge and tips from both Doug and Charles - really great! My wife and I have both gotten excited this past year about transforming savings in the bank into gold coins - we think the coins are a safer and sounder "investment & insurance" than stocks or bonds or banks (which have become casinos). Thanks for giving and conducting this interview!!
Great video! I'm curious however, if you could or would answer Mr. Morgan: what of the "impaired" coin? What of the collectors with only working man's incomes?
Any coin collector can go to the PCGS Photograde website or purchase a grading standards book to understand differences. When you have experts such as Mr. Winter advising "don't buy" "impaired" coins (and from an investor perspective, I get it), what should happen to these type of coins then? Do they turn into "junk gold?" Should one just remove them from collection entirely through taking it to the refinery and melting it? Even that $40,000 example that Winter provided?
I'm puzzled by that from the collector standpoint. Most collectors will never achieve the "rare air" of the Pogue Collection, nor will they be able to make 7- and 8-figure purchases and build collections like Bruce Morelan. Surely there are reasonable markets for "the rest of us" kind of collectors, right?
If you want to buy it and know you go ahead, but his point is valid. Easy to buy and hard to sell. I've owned several details graded 1795-1807 half eagles and wish I never bought them. I loved having them, but had a terrible time selling them. Instead I wish I would've saved up longer and bought one problem free example instead of 3 or 4 details graded examples.
Buy fractional if you cant afford coins thats what i do and stack silver on the side alternating it adds up
Now i feel poor with my 1928 peace dollars! Lol
1928 Peace dollars are more affordable compared to a couple years ago. I bought a 1928 graded PCGS AU58 for $300
Why hasn't the Jackie Robinson MS $5 Gold done well? Low mintage, key date.
"gateway drug" hit it right on the nail ..
I enjoy the detail and finishes of modern limited production (future collectable 🤞) gold coins
Future collectibles? I don't think so. Modern coins are dependant on hype and marketing. After the hype dies down, modern coins lose their premiums. A low mintage does not translate as desirability or rarity. Survival rate determines rarity. A modern coin might have a 5,000 mintage but it's not rare if most grade MS69 or MS70. Most people keep their modern proofs in Mint packaging, ensuring they'll remain in pristine condition. Modern collector coins don't go through the wear and tear of circulation. Hence why most "low mintage" coins have nearly 100% survival rates. In contrast, a 1846 Seated Liberty dollar had a mintage of 110,600. Numismatists estimate only 3,500 survive. Of the 3,500 survivors, only a small fraction will grade Mint State. Seated Liberty dollars are generally considered "rare coins." Low mintage modern coins generally aren't rare. In fact, the supply of modern coins often outstrip demand, despite limited mintages. Most collectors want to build collections with coins at the highest grade possible. There is always strong, stable demand for old US coins because there's a low supply in the highest grades. There is aggressive bidding for Seated dollars in Mint state condition. In contrast, it's very easy to obtain modern coins in perfect PF69 or PF70 condition.
@@MrMonkeySwag96 Try the mexican Libertad reverse Proof 2017 gold Coin , I think 250 mintage world wide, I would think that would be a collectable Coin. What do you think.
Are there any opportunities to own corporation owned shares of a certified collection? That is a high value fully insured collection held in a vault that can never be tampered with or sold without a majority of shareholders approving such by the same kind of balloting system used in other corporations? I can see THAT as a way for people with lesser means to fully participate if say a million dollar collection has 1000 shares of ownership let's say ...that seems like a duhh kind of thing ...and there even could be a yearly or whatever length of time private showing for shareholders complete with an optional dinner or something obviously paidforby individual attendies ....anda private web site showing each coin with narration so one could still show off "his" or"her"collection to friends ...
I just recently purchased a 1/4 ounce SGE. I believed one day it will be worth a full ounce
How so?
Nice stack
Any bullion gold coin is your best start.
I have 1853 half doll California type 1 fractional coin and I can’t find anyone to answer my questions or give me history on it. It’s been in my family since 1853. U can’t find this particular coin really online. I did find it on Heritage Auction it sold in 2014 for 1600$ but that’s is all I have found on it... can someone plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz help me!
I buy as much as I can for as little as I can. More ounces that's my motto
❤
if one cant make enough preim. selling silver collector , why do the same with gold? collecting is go[ng out like stamps, on a budget, save to buy weight, need access to buyers with deep pockets to sell to at full preim, just buy good gold as close to spot, timing, saving and do your homework
For the price of a couple of ASEs, you could buy a few shares of a low price miner,trading at 1 to $3 a share. Trade these for some profits,DO NOT TRADE YOUR GOLD. EXK, which trades about $2.50, was up 7.5% one day this week, up about 15 cents in a day. I keep a little portfolio of 7 of them. All are rallying ,along with gold and silver. Their Tech charts are good. SSRM has a great chart, with a huge cup, followed by a nice handle. Trades in the $15 area. I would not think of trading the coins.
WHEATON, WPM gets $27 million cash flow per employee!
I just have a question for collectors, this is no offense in any way. If, i say IF, you have a let's say $100,000 extra lying around, and there is an extremely rare coin that you like valued at the same amount, would you buy it? how about when it's more expensive, say double, and you also have the money for it?
Sure, when I will be a daughter of billionaire I will go for these coins. But, if, or when, and at this point majority thinking of not if, but when, SHTF, the numismatic coins will cost just the price of the metal, I would not want to end up with your kind of collection of gold... I would rather stick with the cheapest & largest in the gold quantity and quality booleans than historical quality and quantity coins... =D
me too!
Very untrue, in 2011 you were still paying over spot for gold. And that was pretty close to SHTF
the swindler and the gullible makes life interesting and makes the world go round
Paying numismatic premium is the worst choice for a starter to make. No offense but completely disagree with the recommendation though in fairness he was being questioned and didn't give unsolicited advice. A beginner needs a very liquid coin that they can get in and out of without getting hurt in commissions or loss of buying premium. he or she needs to build their stack (metal content) for that also gives them insurance money for tough times and it wets their appetite to get more in the future. high premium rare coins are for someone that don't have much monetary constraints in life and can play fairly easily. If you have a choice of getting some carson city / charlotte / saint louis $20 coin for $5K - I would suggest you rather buy 4 $20 liberty AU / BU generic date coins and you will sleep a lot better! peace guys!
I disagree. A coin with numismatic value will weather the highly volatile commodities market much better than bullion. He did say long term investment. Why would you want to buy bullion just to get in and get out?
@Nikhil your comment is pointless. Obviously this video is about NUMISMATIC gold coins, not bullion. This channel is Coinweek, not Stackerweek.
@Clayton Eatmon wow, you really have no clue what you're doing. Modern coins like the First Spouse coins don't hold their premiums well. Only the naive like yourself buy those coins. Gold coins from the 1850s or earlier hold their value. The market is flooded with modern proof coins. There never was demand for First Spouse coins in the first place.
Today gold is at $2,035.00 oz ✊
I want to buy the entire planet old gold coins and make a couple necklace platinum and diamond
Its funny how most people in the comments section are stackers rather than numismatists. I can tell few people actually understood what Doug Winter is talking about.......
Only 5K? My budget is $500!
Even $100 is out of my price range.
I have 1880 coin ,.
Judd-1776
Charles: So what should you do if you only have $1000 to spend would you buy a nice cleaned coin?
Doug: No. I would sell my left kidney and my first born son. Then donate sperm both for profit and future children to sell organs from then buy a R7 plus only in 66+ or better. You can grow your collection from there.
Hi Luchace, I would not buy a cleaned coin at all. It will be the last thing a collector will want to have when it comes time to sell it. My advice is to take a longer approach. If you have $1000 today.... but you want a gold coin, just hold off until you save up enough to buy that coin you want. Collecting can take a lifetime - and four or five really nice coins that you love is as impressive a collection as any.
I WISH I didnt sell my $3 gold piece..
Or my classic head 2.50..
ILL take gold bullion current no need to pay extra premiums.. and my constitutinal silver.. If I find older Gold with barely any premium I will take them also.
Lmao, did you pay attention to the video? Doug Winter is talking about COLLECTING gold coins. Not stacking gold coins.........
Gold may be your friend but 1/2 oz and 1.0 oz gold is a coin too far for a wanna be collector. Collecting 10
ounces of gold these days is not the way to go.