Should I sell $1000 collector coin to purchase ounce of gold?

[ihsv]

Ok, gang, I have a 2000 proof bi-metalic (Gold and Platinum) Library of Congress commemorative coin. There's right around a quarter of an ounce of gold and an equal amount in platinum (about $500 in metals, current going price)

Here's the question: It's running between $900-$1000 because of it's collector's value. Should I sell it and purchase an ounce of gold?

Should I keep it and sell it later?

 

[youngbuck]

My opinion is that you should sell it. There's a chance that we're coming up on a time where collector value will not matter, and only real value will be considered.

 

[Chase]

My opinion is that you should sell it. There's a chance that we're coming up on a time where collector value will not matter, and only real value will be considered.

I agree... I bought a Ron Paul silver coin from the Liberty mint and watched as its value quickly went from $25 to over $250... nowadays I'm pretty sure I've seen them going for $50. I have no intent of selling mine as I bought it to keep, but it just goes to show that the value of "collector" metal can vary a lot, and quickly.

 

[MoneyWhereMyMouthIs2]

Should I keep it and sell it later?

I would, for sure. Yesterday.

 

[Dr.3D]

It would be better if you could just trade it for precious metals. If you sell it, they will probably tax the hell out of what you made on it. If you can just trade it for precious metals, then you won't have to pay a tax.

 

[Cleaner44]

My opinion is that you should sell it. There's a chance that we're coming up on a time where collector value will not matter, and only real value will be considered.

I agree, if the collector value will get you more than the metal value, sell or trade it.

 

[ihsv]

my wife's uncle runs a coin shop out west, so I think I'll give a ring. Thanks everyone!

 

[SevenEyedJeff]

I would do it. Good luck finding any gold though, I've called all the reputable dealers in my city, and none have any.

 

[Deborah K]

Don't sell it unless you are CERTAIN you can find the gold to buy. If you can, then I would say yes, sell it.