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I am looking for some $2.50 Indians, not a graded versions just circulated (as close to spot as possible). I like fractional gold and they seem to be hard to come by without being graded in some way or another. I have purchased from gainesville, but they don't have any listed and the ones on ebay are way over priced. I have only been able to find a couple at the local coin shops within reason. Am I chasing something that does not exist?

RxForPain wrote:I am looking for some $2.50 Indians, not a graded versions just circulated (as close to spot as possible). I like fractional gold and they seem to be hard to come by without being graded in some way or another. I have purchased from gainesville, but they don't have any listed and the ones on ebay are way over priced. I have only been able to find a couple at the local coin shops within reason. Am I chasing something that does not exist?

The only way you are going to find ungraded ones is if you can find some quite worn ones that weren't worth sending in for third party grading. And those usually get sent in to the smelter. You might be able to find XF as the lowest grade available in coin shops, but you're always going to pay probably at least a five percent premium. Indians are far more popular, thus sought after, than Liberty series. Go browse the gold thread over at bullionstacker.com. There are frequently Indians for sale there, you might luck out. Zeeforce2000 runs constant gold sales there. From what I've seen, the premium on $2.50 Indians is prohibitively high, you might try $5... you'll get more for your money.

Be careful with Pre-33 gold. So much offered to the inexperienced is cleaned and just worth spot. Look at the stars. If there is darker colorization around them then it is likely cleaned. Cleaning gets the surfaces and misses the edges around the stars. If you know nothing about these coins then stay away or buy graded. I have been fooled once or twice and I know these coins. In hand is not the same as a picture. Be careful.

There are also a lot of fakes so buy from reputable people

I appreciate the advice from everyone. Any other ideas for fractional gold in the pre 1933 range other than Indians. I try an stay 1/2 oz or below.

RxForPain wrote:I appreciate the advice from everyone. Any other ideas for fractional gold in the pre 1933 range other than Indians. I try an stay 1/2 oz or below.

You would get more for your money with $5 Liberties. I have a few I'd be willing to part with, only because I want to pick up some half-sovereigns. PM me for details. I think you're wise to pick up the smaller denominations while they are out of favor. It will become impractical to hold larger pieces a year or two from now, after the price explosion.

I ask today at the coin shop they have been there for the last 35 years and he pulled out of the save a box full of 2x2 of them starting at $240.
The shop is--
Rouge Valley Coin and Jewelry
http://www.rvcoinandjewelryexchange.com/