According to a dictionary, “Antique,” is something “old,” or “out of date,” among other definitions. I live in an 1887 brick ‘Queen Anne’ home of 3400 square feet, and love it. It is furnished with a lot of antique furniture, which is appropriate. Antiques of just about anything command a high price, depending on how many of them are left. There are a lot of antique homes throughout the U.S., and many antique pieces of furniture, cars, and even antique clothes are now commanding a high price. An antique of anything’s value is also dependent upon its condition. A Model T Ford in a junk yard in pieces, may be worth its usable parts only, and an antique piece of furniture, may require stripping, re-finishing, sanding, gluing, etc. to make it have value, but even then, it might not command the price of an antique of anything in its original condition.
Which brings us to antique or new coins, and especially gold ones. Many thousands of Americans have acquired old gold coins from numismatic dealers, which to me are similar to used car salesmen. Why? Because just like an antique car or piece of furniture, its rarity and condition are all important. The most common of numismatic gold coins are ‘Double Eagles,” so really beware of them. It would be a good buy for numismatic collectors to get the annual “Red Book,” which lists the number of each year and mint which were struck. Also, the naked eye cannot tell the grade of an antique coin. For an old coin to have value, the fact that it is in a plastic case means nothing. There are two reliable coin grading companies, and the one most reliable and most likely to add value to a coin is PCGS or Professional Coin Grading Service. The other is NGC, or “Numismatic Guaranty Corporation.” Any old coin without a professional grading seal on its plastic case, can be worthless other than its gold content. As an example, I bought an 1878 -$3 gold coin from someone a long time ago, for a low price, and sent it in to PCGS for grading. It looks great! It came back in the PCGS plastic box with their seal on it, and it says “Genuine, not gradable.” Someone maybe had tried to clean it, or something, of which I don’t know, but it’s not valuable, other than its gold content and a bit more because of its date and visible condition. Never buy an old coin without its being graded! And then before you buy, get a Red Book, to see how many of that year and mint were struck.
Colorado Gold sells new coins, of current or recent dates, for what we pay for them, plus a 1% commission which includes shipping. We work out of our homes, have no employees, and do no advertising, which means we have been around before the TV guys even got started, and we do just fine with that modus operandi.
Why buy an antique of anything, and especially a coin of gold or silver? An antique car can give much pleasure, as can antique furniture, because they can both be used. When one buys gold and silver, it is usually to give protection against inflation, and it is the actual gold and silver content which gives the protection, not its being an antique. When push comes to shove, its how much gold, silver, guns, and guts you have, which counts, if you’ll excuse the trite expression…except it’s true. We’ve been through the Hershey Bar & Coke prices already. They were a nickel when I was a kid, and they’re the same Cokes and Hershey Bars, which cost in the dollars now. The gold and silver prices have gone up exactly as have the Coke and Hershey prices, meaning the buck has slid an incredible amount, and can only go lower, thanks to a bumper strip I saw recently which said “Buck Fiden.” Do Not Save In Dollars. Save in real money, meaning gold and silver. That’s why David, Melissa, and Morgen are on duty. I’m 87 next month, and in fine condition, but don’t want to sit as my desk all day.
-Don Stott
don@coloradogold.com.