1996 W Smithsonian 150 Th Anniversary Gold Half Eagel ICG MS 70

[Guest]

Is this a good coin to invest in?

 

Coolcoin

[EVillageProwler]

Arguably, coins in general are a lousy investment vehicle. As with all things, yes, you can do well. But, in general, it's a shoot.

 

Modern commems in particular are regarded as a lousy investment vehicle because they were made in large numbers, sold in the primary market for a large premium, performed poorly in the secondary market, and often received poor public interest.

 

I would expect this specific coin to perform on average for modern commems...

 

EVP

 

[keithdagen]

The Smithsonian $5 is a nice piece, and had a fairly low mintage, so finding them is not easy. However, ICG is pretty loose on their grading of 70's, so if you like the issue, my recommendation would be to buy the issue in PCGS or NGC MS-69, and save the premium for a coin that is, most likely, overgraded.

[Guest]

Great advice.

Thanks,

Coolcoin

 

[BillJones]

I'd say that coin is a poor investment. It did not generate much collector interest when it was issued and seems to have not done much better since. The main thing it has going for it is that the mintage is low. If the total modern commemorative gold series EVER caught on, this coin could be one of the keys or semi-keys. But right now that seems like a long shot.

 

I'll agree with the others about ICG. Their MS-70s may not be the "big guy's" MS-70s. From a marketing perspective, this coin COULD be perfect, but few PCGS or NGC collectors will believe it UNTIL is in the RIGHT holder.

 

BTW I love the modern gold commems. They offer a way for a collector to buy some really pretty coins for short money. The best strategy though is buy them in the secondary market and let some else take "the new coin hit."

[Guest]

Thanks for the advice Bill. It sounds logical to me because of the low mintage.

 

Coolcoin

 

[keithdagen]

To add to what Bill said, if you're interested in slabbed modern gold, the easiest thing to do is go to a show, and pick through them raw, then submit them yourself. They are readily available for most issues, and are usually available cheaper that way.

 

When I put together my set, I found the 1996 Olympic issues to be harder to find than the Smithsonian, even though the mintages are similar.

[BillJones]

As a collector I actully prefer these coins in the orginal boxes and NOT slabbed. To me it's kind of like a poor man's version of owning a Pan Pac set in the copper frame. The Atlanta Olympic set had far, far too many coins in it, but the Proof set in the cherry wood box is really attractive and impressive. And if you buy in the secondary market, you can get it at HALF (the issue) PRICE!

 

Check out the attached picture of the set.

[Oldtrader3]

I have been buying some of the $5 Gold Commems. I buy them mainly for designs that I like i.e. The Washington $5 which is a design by Bela Pratt. They have not appreciated for most of the issues that are selling for about issue price. The low mintage coins are already high priced, considering their availablity.

 

I normally buy them in the Mint packaging. I do not see much point in paying a premium for a PR69DCAM slabbed coin, because they all are that grade, unless mishandled.

[Oldtrader3]

I have been buying some of the $5 Gold Commems. I buy them mainly for designs that I like i.e. The Washington $5 which is a design by Bela Pratt. They have not appreciated for most of the issues that are selling for about issue price. The low mintage coins are already high priced, considering their availablity.

 

I normally buy them in the Mint packaging. I do not see much point in paying a premium for a PR69DCAM slabbed coin, because they all are that grade, unless mishandled.

[BillJones]

A quick correction: the Washington half eagle was Laura Fraser's original design for the Washington quarter. Mrs. Fraser was cheated out of her chance to design a regular issue coin by treasury secretary, Andrew Mellon. Mellon overruded the Fine Arts Commission and everyone else to get the Flannigan design on the quarter, much to the regret of many collectors.

[Oldtrader3]

Sorry Bill, you are correct. My old brain is getting fried. I should check before I post. Thanks.