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 Replies: 28 / Views: 2,823 |
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Pillar of the Community
United States
1748 Posts |
I'd say at least AU-58 from the pics. Would have to see it in hand to see if it would go MS-60 or 61. Looks like a nice coin and I would take it to a reputable dealer and have it sent to PCGS for authentication and slabbing.
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Pillar of the Community
United States
7621 Posts |
One of the hardest coins to grade is the 2 1/2 Indians. I'd give yours a 58 based on the pics. In hand, it might be better. Value at retail should be around 350$.
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New Member
 United States
8 Posts |
What should I expect to pay to have it authenticated by PCGS? I was considering ANACS because I could ship it out myself.
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Pillar of the Community
United States
1748 Posts |
I have been told by a couple of dealers right around $50 on gold with PCGS. Maybe someone else can confirm it.
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Moderator
 United States
23522 Posts |
Quote:
What should I expect to pay to have it authenticated by PCGS? I was considering ANACS because I could ship it out myself.
This coin could go through PCGS as a "Regular" tier submission, $32 for Standard service and $45 for Secure Plus service, plus shipping and insurance. However, you'd have to either purchase a membership - unwieldy unless you have a few coins to grade - or "piggyback" it with a trusted local dealer's submission, something that many dealers do. There might be a little compensation involved for the dealer, in return for his efforts on your behalf. An ANACS submission might be the better route for you here, since you can handle all the details personally. Although it's a known "thing" that the PCGS holder will probably net you a greater return, with this one we're probably only talking ~$50. I think this one is technically Uncirculated, but the surface marks will probably convince a TPG to wimp out and call it AU58. The value starts climbing very quickly the moment the coin is called "Mint State." Pretty cool coin. This one has the second-lowest mintage total in the entire series, although still common-enough that the premium isn't huge. Until, as I mentioned, you reach the MS range. The values already mentioned here are quite accurate. |
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Pillar of the Community
United States
1748 Posts |
Not much wear on it because of its year...1914. With war breaking out in Europe, inflation became a major problem even in the United States. Banks quickly stopped paying out gold coin at par with paper dollars and minting of gold came to a halt in 1916, as much of it was coming back from Europe in payment for war materials. According to Q David Bowers, the situation eased a bit in 1920-21, but $2.5 gold never did go back to par and thus did not circulate. Most were bought as gifts thereafter, if my recollection of what I read serves me right.
*IF* you can find a reputable dealer who will send it in with his submissions to PCGS, I would go that route.
If you cannot find one you trust, then go the ANACS route.
Either way I would keep the coin as a wonderful memento of your grandfather.
Edited by DoubleEagle20
12/20/2013 10:08 am
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New Member
United States
8 Posts |
Interestingly enough, he was born in 1914. I wonder if it was bought as a gift for him or his parents.
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Pillar of the Community
United States
1748 Posts |
Very, very likely. I also recollect reading that individuals were allowed to keep up to four of a "given variety" of quarter eagles during the Gold Recall of 1933, as they were scarce by that time frame. You grandfathers coin was exempt and thus did not get turned in to the government. If it was bought as a gift, I would bet it was during the 1915 or 1916 time frame. Just a "gut" feeling, of course.
The history of these coins is really interesting stuff. Many banks kept them in a separate drawer and you specifically had to ask for them. I would assume that became widespread as parity was lost during WW1.
Edited by DoubleEagle20
12/20/2013 11:08 am
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Valued Member
United States
461 Posts |
I have always loved these Indians along with the $5 half eagle as well. Dealer does seem like he was trying to make quite the profit off your lack of knowledge. He would have likely bought the coin for the $125 then turned around and sold it for $350.
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New Member
United States
8 Posts |
I was thinking about mu experience with the dealer yesterday and it really ticked me off. If I had no emotional attachment to the coin I would have sold it without a seconds thought.
Would you post an online review warning folks or just call the shop and let them you know don't appreciate their attempt to capitalize on a customer's ignorance?
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Pillar of the Community
United States
1554 Posts |
Feathers on top and middle of Eagles left wing show circulation wear as does breast. Indians head dress shows wear especially on lower feathers. Many nicks and hairlines on reverse field. Luster is subdued. My grade for this coin is AU50. Grey Sheet bid for AU is $280, ask is $305. Figure a decent dealer will give you $250. Not worth slabbing IMHO. Good luck.
Edited by 1893S
12/20/2013 12:28 pm
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Pillar of the Community
United States
1748 Posts |
I understand the feeling, ferro. I had a 1oz Canadian maple leaf that I wanted to unload for a Double Eagle purchase so I called a local dealer and he offered me $200 below spot. I told him to "stick it where the sun doesn't shine". I won't step foot in that place now, or ever.
A reputable dealer paid me spot for it.
Edited by DoubleEagle20
12/20/2013 11:54 am
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Valued Member
United States
461 Posts |
The Indian quarter eagle was the very first gold coin I ever bought, alas I sold it in college. It will be the first gold coin I buy again thats for sure. It is my favorite gold coin.
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Moderator
United States
23522 Posts |
Quote:
Would you post an online review warning folks or just call the shop and let them you know don't appreciate their attempt to capitalize on a customer's ignorance?
Don't bother. It's far too common among coin dealers, and you'd never reach the audience who actually needed to read your words. Not to mention it's not remotely illegal to offer whatever price you feel like for a given coin. |
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Pillar of the Community
United States
3184 Posts |
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Replies: 28 / Views: 2,823 |
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Posted 12/19/2013 9:40 pm
