NEWP PCGS MS62 $5 liberty

[stinkycheese1]

I decided to invest in some more gold. So I bought a $5 PCGS MS62 gold liberty from apmex. It was a good price, I think, $320. But their shipping is INSANE. $22 to ship it. So it came to around $340. But this is still a good price when considering that www.thegoldcoinstore.com sells pre-1900 $5 libertys for $391, and that's without shipping.

 

Of course, dates are their pick. I'm hoping they pick a coin in the 1800's, since that would be my first 1800's US gold coin. So, I'm asking, what date am I most likely to get? What date is the most common for these coins?

 

I noticed there are some pretty high mintages of these in the 1800's, so I'll guess I have to cross my fingers.

 

 

[jesbroken]

Kevin,

Glad to see you bought your gold coin. I'm not a gold collector but I would think that you will do ok with that purchase. Good luck on the date, sounds like you're thinking along the right lines as to date-it will be the most common, probably 1897 up(leaving out a few years).

Jim

[Oldtrader3]

Kevin, my guess is that you will probably get a 1885-S, '86-S, '87-S or possibly an 1898-S, 1899-P or 1899-S these are all mintages over 1MM and are very common. I hope that the coin is actually MS62 not MS55 (pushed to MS62), as most bulk sale coins are. There is an lot of white, dipped, stripped AU junk in MS62 slabs. Keep your fingers crossed. When buying from a bulk dealer, you often get slabs that are maxed out. Let me know how this comes out.

 

I sent you a PM, Kevin.

[MarkFeld]

Kevin, if your aim was really "to invest in some more gold", I think you would have been better off buying gold bullion. The buy/sell spreads are smaller for bullion gold coins than for U.S. gold coins, and the former will move in tandem with the price of gold, while the latter might not.

 

$5 Liberty pieces in that grade aren't rare, and since the price level is considerably higher than the gold content makes them worth, they might not move up in value, even when gold moves higher.

 

Lastly, for coins which are that common, why not be patient and buy one on a sight-seen basis?

[TomB]

You will likely get whatever they have the most of, which stands a good chance of being something in the 1900s. Also, since they are selling sight-unseen with high shipping charges, you are also more likely to get an overgraded or unattractive coin. If you wanted to "invest" with a lower overhead you might have done better to buy certified, modern $5 commems or to buy a certified AU58 Liberty half eagle. Many AU58 coins of this series look nearly identical to MS62 coins of this series. Currently, TNFC is offering an 1881-S PCGS AU58 for $295 with $10 shipping for a total of $305. At least TNFC offers good images and a return policy that won't make you eat the $22 in shipping that APMEX charged. If you are willing to go a little lower in grade and take a 20th century, PCGS slabbed Liberty half eagle there is another on ebay in EF40 at $239 with $6 shipping for a total of $245. Again, images are included and there is a return policy that will not make you eat $22 in shipping. With any patience, you could likely find a decent, 19th century, PCGS certified MS62 $5 Liberty on ebay that might have had decent images and might have cost less, too. As it stands, this coin as an investment in gold is costing you a whopping 50% premium to the gold content.

[stinkycheese1]

Thanks for the feedback guys.

 

It was more of an impulse buy, I should've bought one sight-seen.

 

I'll let you know more about it with pictures when I get it.

 

[physics-fan3.14]

Thanks for the feedback guys.

 

It was more of an impulse buy, I should've bought one sight-seen.

 

I'll let you know more about it with pictures when I get it.

 

Yeah, I know about the impulse buys. I just impulse bought a laptop this week.

[stinkycheese1]

Maybe if I were to ask apmex to pick me one from the 1800's, maybe they would? Should I go this route? Or should I just not ask?

 

Thanks

 

[bsshog40]

I doubt it would do any good Kevin. I would just sit back and wait for the surprise.

[jtryka]

Kevin,

 

I have my fingers crossed for you! Did you pay too much? Maybe, but let's see the coin first! I think I once bought an 1886-S half eagle in MS-62 for about $150, but that was when gold was under $300, so it was an even higher premium than you paid! So don't feel bad (by the way, I think I sold that one a couple years ago for $250, so it worked out ok. Good luck!

[Doogy]

 

I agree with the others. when you buy numismatic material from bullion dealers, you are generally overpaying for nasty dregs that are sliders, problem coins and stuff they got cheap because no one wanted.

 

Good luck, but you'll probably find yourself returning it.

[stinkycheese1]

I agree with the others. when you buy numismatic material from bullion dealers, you are generally overpaying for nasty dregs that are sliders, problem coins and stuff they got cheap because no one wanted.

 

Good luck, but you'll probably find yourself returning it.

 

Well that sucks. I guess we'll see then.

 

Alright, they have a return policy but a %5 restocking fee.

 

3 day return policy

[TomB]

I agree with the others. when you buy numismatic material from bullion dealers, you are generally overpaying for nasty dregs that are sliders, problem coins and stuff they got cheap because no one wanted.

 

Good luck, but you'll probably find yourself returning it.

 

Well that sucks. I guess we'll see then.

 

Do they even have a return policy?

Those are the things you find out before you place the order.

[wogger-migration]

Gold speculations are presently at over $2000 per ounce by the end of the year, although I feel thats abit high.

[MarkFeld]

Gold speculations are presently at over $2000 per ounce by the end of the year, although I feel thats abit high.

And some other guesses (which is all they are) call for even lower prices than we have now.