Gigabyte Low Profile Graphics Card - 2 GB DDR3 - 64-bit - 954 MHz
or PNY - NVIDIA GeForce GTX 1050 2GB GDDR5 PCI Express 3.0 Graphics Card - Black
The 1050 is the better and newer card. It has GDDR5 memory for a start versus lower bandwidth/slower DDR3.
Comparison here: GeForce GTX 1050 vs GT 710
I am not recommending either of these though.
I will take a quick look at prices versus what you would get for slightly higher spend.
Likely you should get the best GPU you can, even if it means saving for a little longer.
OK here are the prices I see after a quick check:
MSI GTX1050 2GB gaming = 135.
ZOTAC GTX 1060 6GB mini = 245.
Cost difference = +81%.
Performance Difference = hard to summarize but this will give you some idea:
I think you would be much better to purchase a GTX1060 6GB if you can.
The 2GB of GDDR5 on the GTX1050 would be an instant do not buy it for me.
Minimum I would go for today would be 4GB of HBM on an AMD Card or 6GB of GDDR5 on an Nvidia card.
Sorry but I cannot spend any more time on this one.
I would still try to see if an AMD GCN card would work on your system provided you are aware of the following:
(1). If you buy 2nd hand AMD card advise you buy at least GCN2.0 version of an AMD card because many applications do not work with GCN 1.0 any more, such as the latest version of Blender 2.79, 2.79b, AMD ROCm Open Compute, OpenCL etc.
This means that anything like HD7970 GHz edition or R9280x cards are becoming dead ducks for anything other than gaming on Windows in practice.
(2). There are no supported Windows 8.1 drivers at all for RX580 or RX Vega cards.
(3). Ubuntu (linux) drivers with AMD right now are not good at all versus Nvidia in my experience.
If you do try an AMD GCN card on your old PC and the Adrenalin Driver does prevent installation because it detects the non GCN motherboard GPU then please let us know on this forum and also open a support case with AMD so they get the feedback.
Hope this helps.
RE: your power supply.
Here are some GTX1060 power consumption numbers:
Nvidia GeForce GTX 1060 Power Consumption Results
The card consumes 122 Watts maximum for GTX1060 6GB card, with short term maximum peaks to 143 Watts.
Note that card is a reference card so aftermarket gaming 1060 may require more power than that.
Your CPU is 95 Watts taking you to 238Watts just for the CPU and GPU.
You will definitely need a PSU upgrade. If you are looking for compact PSU I recommend Corsair SF600, but check if it has enough outputs for you.
If you consider an AMD card which competes with GTX1060 6GB you will need to allow for higher power consumption.
RX580 8GB reference power requirement numbers:
AMD Radeon RX 580 8GB: Power Consumption
For the RX580 (note is a Sapphire RX 580 Nitro+ aftermarket card) it takes 237.4 Watts maximum during torture tests. No short term maximum peak data was measured.
So the AMD RX 580 8GB requires 237.4 / 122 = ~ 1.95x more power than the GTX 1060 6GB card.
For comparison to Highest end Gaming GPU cards:
The power requirement for a reference Nvidia GTX1080 8GB is 180W.
Nvidia GeForce GTX 1080 Power Consumption Results
The Power Requirement for a Reference GTX1080TI 11GB is 250W with maximum peaks of 295 Watts.
Nvidia GeForce GTX 1080 Ti Power Consumption Results - Tom's Hardware
A Sapphire RX Vega 64 Nitro+ requires 387 Watts with maximum peak of 421W.
(Sapphire RX Vega 64 Nitro+: Power Consumption ).
So the RX Vega 64 requires 2.15x more power than a GTX1080 and 1.55x more than a GTX1080Ti.