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Replies: 18 / Views: 2,689 |
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Moderator
 United States
23522 Posts |
You did well. If the coin makes the purported MS63 grade; you have to make that determination quickly after you receive it. Post images here posthaste (pun intended) if you can so we might weigh in. It's a very fair price for you if the coin makes 63, at the current price of gold you'd have legroom to cover the cost of resubmitting.
But this one doesn't have a bunch of value over melt. You'd need that MS63, and you'd need the price of gold to maintain, so you have to plan it as a no-less-than medium-term investment.
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Valued Member
 United States
153 Posts |
Another important dilemma is whether or not this is the right time to buy Gold. When I purchased this set in 2005 or so, it is most unfortunate that I did not complete the gold page right then and there. The entire set, but especially the gold page, would have been so much more doable... One school of thought believes that the dollar is dying and Gold could even hit 5K-10K/oz. And it's also possible that the spot price could fall down to 2001 levels trading for $300-400 an ounce again. Or it could sustain it's current level for many years to come. I just don't know. What do you gold academics think?
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Bedrock of the Community
13014 Posts |
Theres really no way to tell. If you plan to keep the set for a long time its not a huge deal, but if you plan to flip it Id personally stay away from gold. Theres no real way to tell what itll do. Most of the people advising 5k-10k+ have a financial interest in it doing so. What we do know is it sees a lot of resistance around 2k, and the higher the price the fewer people buying and the more people selling which brings it back down.
I personally dont buy the 5k talk, to many people would be priced out of the market at that range, it could reach that but I dont see it staying long term and if it is that bad buying gold coins will probably be one of the last things on your mind. Most likely itll bounce between 1500-1900 for the foreseeable future or next presidential election depending what happens. Maybe a dip if the world doesn't end in a few weeks and a boost when healthcare kicks in but unless you have millions to buy and sell and actually affect the price yourself the best you can do is take an educated guess
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Pillar of the Community
United States
3184 Posts |
I would have bought a slabbed one just to protect it
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Pillar of the Community
United States
7840 Posts |
 with mkman123. I see so many coins that " were" slabbed previously only to be sold later for quite a bit less than they would have if they were left in their cozy little holders. It is real difficult to determine if the slab insert really belonged to the coin depicted. I have bought a couple of ex-(fill in the blank) TOP III slabs but only after I seen some sort of evidence that it was the actual coin...at least I was satisfied in making that determination.
Edited by oih82w8 11/29/2012 1:02 pm
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Rest in Peace
United States
4849 Posts |
What I want to know is why did he list a $2k gold coin under .Consumer Electronics > Portable Audio & Headphones > iPods & MP3 Players ?  You're probably ok, as long as it is genuine. It has decent luster, at least AU-58....but the its hard to make out the fine details that would make or break a 63.
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Valued Member
 United States
153 Posts |
Right, it is definetly a concern buying an expensive coin like this one uncertified, that it may not only be inappropriately graded, but fake! Is there an easy way to tell a counterfeit from the real thing with Type 3 Liberties? I do not have a working scale, but I understand that each coin is supposed to weigh 33.46 grams and also supposed to have a 33m diameter. In addition, I read that there is always a mark through the Y in Liberty on genuine examples.. I also hope that I would be able to discern an obvious fake from the real thing. But, a good fake might still pass those tests, and I should probably have it examined by a professional. What other features should I look for?
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Valued Member
United States
243 Posts |
Most if not all that sellers coins are listed in the same category you mentioned above johnny54321.
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Moderator
 United States
16679 Posts |
Really 
swcoin.ecrater.com
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Valued Member
 United States
153 Posts |
The price of gold is down nearly $25 today. Considering that I just invested in an expensive $20 gold piece, this sucks. I am still quite excited though as the coin should be arriving today via FedEx, and I figure that I did not do too badly if the coin is really an ex-MS63 PCGS. So perhaps I should wait for the price of gold to melt down to $500 or so before buying anymore gold coins?! Are we going to see a steady decline in the price of gold? Or is this just a temporary setback? Interestingly, the stock market and the price of gold seem to have an inverse relationship. However, today, both are losers.
I hope to post some pictures of this newest acquisition, and also the completed silver/copper 7070 type set. I am thinking that I should scan the whole thing, but have heard that the quality of the photos are much better with a digital camera. I have an outdated Canon PowerShot but don't know how to use the macro zooming properly...
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Valued Member
United States
366 Posts |
Enjoy you coin but don't watch gold prices daily or you'll have a rolly-coaster year! If we know what gold prices would do, we'd all be very rich.
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Bedrock of the Community
United States
10982 Posts |
Looks like it could be a 63 but with the seller's images there's no way to tell. Let us know how it works out. The price was good for a 63.
P.S. There is no scenario imaginable that would take gold near $500/oz. $1,000/oz maybe.
Edited by BH1964 12/04/2012 3:01 pm
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Valued Member
 United States
153 Posts |
Well, the Eagle has landed!! It came in a PCGS MS63 cracked holder and the coin had obviously been removed and put back in by its previous owner. Kind of strange, but I did get a decent price on it (under $1900.) Overall, it is a very nice coin and I would say it's definetly plausible as an MS63. However, there are two small but obvious scratches on Liberty's cheek and I am wondering how that would effect the grade! As far as I can tell, it is genuine and fits into the 7070 nicely. I hope to provide some pictures soon..
7 Coins to go on the Gold Page; 4 of which I can acquire for less than the price of one Double Eagle. However, for now, I'm afraid, I will have to take a break from buying coins due to the ever escalating cost of building this set. The good news is I have spent less than 9K to all of the type coins in a decent grade, but was it worth it? Is it liquidable? Would I recommend it to someone on a modest budget? Maybe. Would I do it again? Yes!
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Valued Member
United States
168 Posts |
My opinion is that you bid an awful lot of money for a raw coin with poor images. I realize the coin came with a story and a cracked holder, but they mean little. If you know how to grade, can spot exceptionally well made counterfeits and know how to find the slightest bit of wear on a coin then you may have done well. Good luck.
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New Member
United States
31 Posts |
Don't try to guess where gold is going... but I HIGHLY doubt it goes below $1000 oz unless the economy implodes... not likely anytime soon. I was going to buy gold at $320/oz but I thought it was too much *not a wise decision*
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