Posted 14 years ago
bahamaboy
(224 items)
This coin was minted in 1853 at the Philadelphia mint. It has been grade by one of the top two premier 3rd party graders PCGS. Coins are graded on a scale between 1 and 70 This coin has been graded as an AU-53 which there are 4 grades of almost un-circulated (AU) There is AU-50, AU-53, AU-55 & AU-58. This is considered a fairly high grade coin especially for the age of it at 158 years old. On the reverse (tails) the dollar amount is shown as "Five D" On the type two $5 gold Liberty's, the value is spelled out "Five Dollars".
The $5 gold coin was called a "half eagle and contained almost 1/4 ounce of gold. The composition was 90% gold and 10% copper. Pure gold is very soft and that is the reason for the copper alloy. It gave the coin strength and longevity in that it was a "workhorse of not only the U.S. economy but that of the world economy as well.
Coins are my "passion" I own close to 500 different gold coins ranging in denomination of $1 up to $20 gold. I also own half that many foreign gold coins. At some point in the far distant future I will start to sell them off one at the time as a source of income. I am so glad that I have hoarded these types of coins for over 25 years and continue to amass as many as I can afford. It has been the single smartest move along with silver that I have done as far as an investment goes.
Those of you that do not own any gold "in any form" should start to do so today. Believe it or not, even if you are in your late 60's what you invest in gold today may give you a 100% return in as little as ten years. Silver will do even better, percentage wise. Buy as much as you can, as often as you can. You won't be sorry. I guarantee it.
As a collector of gold coins, I'll be the first to admit the past 10 years have been pretty good. But I also remember the 20 years prior to that.
I sure hope you are right about the future direction for gold prices, but I recently blogged about why I'm getting this feeling of deja vu of 1980 all over again.
( http://thenumismatist-coincollector.blogspot.com/2011/03/gold-was-not-always-so-golden-have-we.html )
Many who bought gold in 1980 lost well over half their money over the following 2 decades. Could the next 20 years be more like 1980-2000 than they are the last 10?
Owning gold has its risks too.
All things you said have merit. Having said that, there are many reasons that owning gold today is very different than in '79 & '80. While these are not the only "reasons/justifications" there are at least several "billion" reasons located in a country called China. Even if those several billion reasons were suddenly taken away, there are as many (reasons) elsewhere. Believe me, I've had more people than I would care to count that have attempted to throw "cold water" on my idea of hoarding (not to infer by any means that you're doing the same) gold and even more so silver, and each and every time I didn't just simply dismiss it. I would reach deep down into what little "human logic" I have and delve more deeply into research, and could always come of with reasons to continue with a vengeance. I can still remember how my ex-wife would softly scold me in saying, "that's the 4th $20 gold coin you've bought this month, don't you think you ought to "tone it down a tad"? I would always come back with, "but dear, I can always sell one if I have to". And her comeback to that was always the same. "But you "never" do". Also thank you very much for the "link". I did read it in its entirety. I "never" ignore the advice of others, no matter what the subject. And I do remember when owning gold was not so "golden". It was shortly after that crash that I really started buying. (from the $500's down to the $200's) Sure wish I could go back and buy more of those same $20 gold Liberty's for $275 again. I would "back up the truck". Thanks again & best regards & good luck to you & yours.
Believe me when I say I hope you are right. No matter how high gold goes, I'll never sell all of mine. My heirs will have to do that.
But all the new Cash for Gold (or their competitors) stores that have opened up near my home (it takes multiple hands to count those just within a few miles) and all the traveling gold buyers that keep advertising that they are in town looking to buy, it all reminds me of when my secretary in 2007 told me she was in the process of buying a home to "flip it." I knew the real estate bubble was up then and I'm starting to get a similar feeling about gold now.
On the other hand, I'd much rather be holding gold than U.S. Treasuries over the next couple of years.
Paper fiat currency is definitely not for me. But as far as a bubble goes, there are just too many steering currents that will not change in the next dozen years or so for gold or silver to do anything other than slight corrections. I've counted 4 large corrections since the election with all giving one the chance to make 8-12% each time. I'm sure there are those that have done that. Me, I just buy more on each and every correction. It would have to go to $2 an ounce for me to be in the negative, and I'm not worried that there is even the slightest most remote chance of that happening. There will be a time in the very near future when people will say, "I could have bought gold for $1400 and silver for $35" "Man oh man do I wish I could go back in time and "back up the truck". Within 3-5 years, gold will be $5000 and silver will be pushing $200 or better. Percentage wise silver will do much better until the silver to gold ratio gets back to 16-20 to 1. Keep buying all you have spare money for without forsaking your other investments. I'm at 20% metals and the rest in other vehicles but I wouldn't mind increasing that to 30%. Thank you for the comment AC.
When are you going to post the 1853 gold dollar?
I'll take that "one" better. This evening I'll post a picture of my 1853 gold dollar which was minted at the Philadelphia mint and I'll post a shot of my 1853-O gold dollar that was minted at the New Orleans mint. I also have a few more gold dollars I may have shots of already in my computer. The gold dollar began in 1849 with the "Type-One" gold dollar Then in 1854 they began a replacement which is known as the "Type Two" gold dollar In 1856 they minted the Type Two and started a "Type Three" gold dollar which was minted from 1856 through 1889 when the "gold dollar" ended its reign. Let me see what I can come up with. I'll try to get two or three pics in a single post. Thank you for your interest Toyman.