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- - Gold Coin - What exactly is it? (http://goldismoney.info/forums/showthread.php?t=28838)

Mark97213 | 02-02-2006 11:20 PM
Gold Coin - What exactly is it? 1 Attachment(s) Hello everybody. I'm hoping you all can give me some insight on this coin. I don't know what it is exactly and neither does the seller but he wants to sell it to me... could you please open the attached image and take a look . . . what do you suppose it's worth?

ajrocks | 02-02-2006 11:29 PM
Re: Gold Coin - What exactly is it? Looks Like a $2.50 Liberty quarter-eagles http://www.thegoldcoinstore.com/USGo...ld_eagle.shtml :applause_:coolbeer:

lhslancers | 02-02-2006 11:32 PM
Re: Gold Coin - What exactly is it? Quick AJ. Looks pretty rough. MS 62 is about $520. I wouldn't touch it if I couldn't steal it. What's he want?

Mark97213 | 02-02-2006 11:39 PM
Re: Gold Coin - What exactly is it? He hasn't said yet. Sorry for my ignorance, I'm just starting to learn and I want to buy as much gold as I possibly can before its confiscated again or the dollar becomes worthless . . . but...aside from the coins value, it's still roughly a 91% pure 1 oz of gold isn't it? I mean if he doesn't know what he has and thinks it's only worth a couple hundred or so, wouldn't I be wise to grab it? I don't really understand the grades but does the grade mean anything when it comes to just the golds value? I'll know tomorrow what he wants for it.

65gt350 | 02-02-2006 11:47 PM
Re: Gold Coin - What exactly is it? The $2.5 gold piece only has 0.1209 oz of gold in it. With gold at $570 the coin has about ~$69 worth of gold. The closer you get it to this price the better. 65GT350

lhslancers | 02-02-2006 11:47 PM
Re: Gold Coin - What exactly is it? Quote:
Originally Posted by Mark97213 He hasn't said yet. Sorry for my ignorance, I'm just starting to learn and I want to buy as much gold as I possibly can before its confiscated again or the dollar becomes worthless . . . but...aside from the coins value, it's still roughly a 91% pure 1 oz of gold isn't it? I mean if he doesn't know what he has and thinks it's only worth a couple hundred or so, wouldn't I be wise to grab it? I don't really understand the grades but does the grade mean anything when it comes to just the golds value? I'll know tomorrow what he wants for it.
Do not buy this coin. Buy bullion only. My advice? Buy Silver first not Gold. Either Bags of 90% junk Silver or 10 ounce bars. Bags will be taxed at short term capital gains rate when u sell. You will get a 1099 from the dealer. If you buy 10 ounce bars and sell less than 1000 ounces back there is no 1099. Can you live with that? FWIW a certain golddealer told me he has never had the irs call and question a 1099 ever. Take it for what it's worth. If you can buy cash sell cash. Buy Silver first.

65gt350 | 02-03-2006 12:00 AM
Re: Gold Coin - What exactly is it? I misread the post and thought that you knew it was a $2.5 coin. Here is the breakdown of Au value (@570.00 /oz) depending on the denomination of the coin. $20 - 551.48 $10 - 275.77 $5 - 137.88 $2.5 - 68.91 Again, the closer to these prices the better. 65GT350

Mark97213 | 02-03-2006 12:40 AM
Re: Gold Coin - What exactly is it? Ahhhh,, ok gotchha! Thank you for the education. That's always been one of my fears, my own ignorance when trying to buy gold, but, I'm finally getting there!

HistoryStudent | 02-03-2006 01:16 AM
Re: Gold Coin - What exactly is it? Well, pilgrim, I suspect you'd need about 100 hours of education before you step in the nest of rattlesnakes out there in the desert of gold rare coin collecting. Go to the local library and dig into a bunch of books which tell you the ins and outs of the hobby. Then don't touch a coin unless it's real pretty even under magnification and graded by NGC or PCGS. Even this old greezer got had by one Whizzed coin, one over-graded coin, one altered surfaces coin, and then another Whizzed coin. Each was an $20 double eagle and some were Saints and some Liberties. When you can understand this paragraph you are ready to buy and sell. I've found a couple of great sellers on Ebay and I work directly with them when I not yelling at "Dog." Carry on, pilgrim, and be brave.

Mark97213 | 02-03-2006 01:42 AM
Re: Gold Coin - What exactly is it? Ahhh yes... couldn't agree more!

Uncle | 02-03-2006 03:38 AM
Re: Gold Coin - What exactly is it? Quote:
Originally Posted by Mark97213 I mean if he doesn't know what he has and thinks it's only worth a couple hundred or so, wouldn't I be wise to grab it?
The wisest thing would be to pay a fair price. Golden Regards Uncle

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