Golden Eagle Flyin'

Question by Cakewalk: Should I have my gold eagle coins from 2004 and 2006 professionally graded?
I have 4 gold eagles (2004, 2006) straight from the US Mint. First of all, I am wondering whether I should grade it now or not. Secondly, I would really appreciate if someone can describe the process (concerning safety, or coin submission). Last but not least, I would like an expert opinion on picking a grading company (PCGS or NGC).

BQ: How much does PCGS or NGC charge for grading a coin?
Sorry My bad. It's a gold coin. 1 troy ounce gold.
It's non proof, so I guess business strike?

Best answer:

Answer by curtisports2
Before we can go any further here, no gold eagles were made. They're , , and . Also, are they proofs or business strikes?

Edit: OK. If it was me, I wouldn't spend the money. Business strikes are pure bullion plays, unlike the proofs made for collectors. Collectors do go after the business strike bullion coins, but they want the higher grades, MS69 and MS70 (which are not that hard to find for the last few years of release).

PCGS charges per coin for these, and you have to be a paid member. The best deal is a one-year membership for 9, which includes 4 'free' submissions. You have to pay the postage both ways. Not too bad, if you're going to use those 4, plus use their online tools like the population report and price guide.

But, that's only if the is well spent. In my opinion, it's not. According to their guide, for both 2004 and 2006, starting at MS63, there is only a increase per step up in grade, up to MS68. They start at 80 and go to 30. It jumps to 60 at MS69 and 00 at perfect MS70.

That's guide. At eBay, raw 2004 are going from 20 - 90, with the lowest coming a week ago and the highest in the last day or so. That's reflective of what gold did this week. An NGC MS70 sold for 14 two days ago. A PCGS MS69 sold for 03 a week ago. Yesterday it probably would've gone for 20. That would just about cover the fee, over a raw coin for 90. But there's no guarantee of getting a 69. A 68 or less is basically just a bullion coin.

For 2006, values are similar. I don't see grading paying off.

Know better? Leave your own answer in the comments!
[wprebay kw="2004+gold+eagle" num="0" ebcat="11116"]
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[wprebay kw="2004+gold+eagle" num="2" ebcat="11116"]

Originally posted 2010-07-28 12:01:39. Republished by Blog Post Promoter

Question by Pietro: What coins should I buy for my collection?
I'm 25 years old, and recently I decided that I needed a hobby. So I came up with the idea to start a coin collection. I've been buying U.S. Silver Dollar Eagles (some slabbed some not), old Morgan Dollars, and 90% pre 1964 silver coins (junk silver).

I've been going to all of the local coin shops trying to find a dealer that I can trust. Well, today I went to a coin shop that I had never been to before. He gave free appraisals, so I decided to stop in to see what he thought of my collection so far. I explained to him that I was relatively new at this. Upon looking at my coins, he said that I had been overcharged because basically all of my coins were only worth melt value. It was very discouraging.

My question is; what coins should I buy in order to have a collection that I can be proud of? a collection that will hold it's value? A collection that one day will be profitable?

Should I only buy slabbed coins? which ones? What silver coins should I buy? what gold coins should I buy? He said that I didn't have any "special" coins? what did that mean?

Here is what I have managed to buy in one month:
slabbed 1986 Silver Eagle MS69
2008 Silver Eagle
1oz silver bullion bar
1 oz silver philharmonic 2008
1902-o Morgan Silver Dollar VG
1902 Morgan Silver Dollar VF
1901 Morgan Silver Dollar F
3oz of pre 1964 90% junk silver
1913 Type1 Buffaloe Nickle
1905 5 piece cent

Can somebody please help guide me in the right direction! Tell me what I should be looking for, and what I should be buying?

Thank You
Are there any books that you would recommend?

Best answer:

Answer by BD in NM
There is an old adage in the hobby that says; "Buy the book before you buy the coin." In other words educate yourself a little bit and you will enjoy the hobby better. Get a copy of the Red Book as a basic reference book, join a local coin club and maybe even join the ANA.

Your local coin dealers should know how to contact a local coin club and the ANA website is money.org.

As far as what to collect, that is more of a personal decision. You could try to put together a type set which would let you collect a sample of many different coin types. This would give you a feel for what is out there and what is not. Once you have narrowed down your interest you could focus on that coin series or type.

I actually have several different coin collections that I work on at different times. I focus on Lincoln cents but have a type set I am working on and also collect Confederate currency. There is also the coin that is just cool and interesting that I will buy every once in a while.

Don't let the dealer discourage you. It sounds a little like he was trying to get you to keep coming back to his shop with a negative comment about the purchases you made at the other dealers. Most dealers are pretty straight up and will deal fairly with you. Just remember they can only offer you wholesale prices when you sell to them. They are in the business to put bread on their table and can't do that if they are buying at retail.

In the end a little education will help you spot someone who is being straight up and someone who is not.

Most important have fun.

Know better? Leave your own answer in the comments!
[wprebay kw="2008++gold+eagle+coin" num="6" ebcat="11116"]
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Originally posted 2011-02-11 12:46:22. Republished by Blog Post Promoter

Question by rudedog2526: how much premium should be paid on a american eagle coin above the spot price?

Best answer:

Answer by I. B. Zoxx
Most coin shops charge about 10% over the spot price for a .1 troy ounce coin such as this one. You may be able to do better shopping around, though.

Give your answer to this question below!
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Originally posted 2010-10-19 00:11:17. Republished by Blog Post Promoter

Question by RB: Should I sell my five 1oz American EAgle gold coins?
With the price of gold over 0 should I sell my American Eagle gold coins? I have 5 ounces. Bought them when they were selling them for 0.

Best answer:

Answer by zeuz
Sounds like a nice profit to me.

Add your own answer in the comments!
[wprebay kw="american+eagle+5$+coins" num="6" ebcat="11116"]
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Originally posted 2010-11-27 00:12:43. Republished by Blog Post Promoter