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Inherited Coin Collection Gold Coins

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First Page  Showing last 15 replies.
Author Previous TopicReplies: 24 / Views: 4,413Next Topic Page 2 of 2
Pillar of the Community
Canada
5246 Posts
 Posted 11/30/2017  8:38 pm  Show Profile   Bookmark this reply Add oriole to your friends list
You certainly do not need authentication from PCGS if you are selling to a coin shop. Any reputable shop can look at it and give some simple non damaging tests, and prove to themselves whether it is authentic or not.
Bedrock of the Community
United States
12057 Posts
 Posted 11/30/2017  9:08 pm  Show Profile   Bookmark this reply Add paralyse to your friends list
Having them graded by PCGS or NGC would improve their resale value in the event you decide to sell them, and also give dealers and buyers more comfort in purchasing them, making for an easier sale that will bring more money. There is no legitimate reason NOT to slab these coins considering their numismatic value; if for no other reason, to protect them against damage. Gold is a soft metal, and that flimsy paper and plastic 2x2 isn't much defense against anything. This is several thousand dollars worth of gold, and it deserves to be treated as such. If someone wants to crack them out later, that's the buyer's choice.

If you try to sell them raw to a dealer, expect to be lowballed by quite a bit, since he or she would then have to absorb the grading costs themselves, and would incur greater risk in the purchase. Learn how to grade them (PCGS Photograde is a good start) and then use resources like NumisMedia FMV to learn approximate market values, so that you have at least a rough idea of what your coins are worth.

Whatever you do, don't clean them, rub them, wipe them, "test" them, or do anything else to them. DO flatten the staples ASAP.
Member ANA - EAC - TNA - SSDC - CCT #890

"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
Valued Member
United States
65 Posts
 Posted 12/01/2017  12:22 am  Show Profile   Bookmark this reply Add lmwstamps to your friends list
I agree with taking them to an LCS. Many shops ate more than willing to give an honest appraisal and/or offer. You don't have to accept the offer but they might be able to tell you if any have a numismatic premium.
Pillar of the Community
United States
4211 Posts
 Posted 12/01/2017  07:12 am  Show Profile   Bookmark this reply Add Debrajc to your friends list
and nice collection to inherit!
Bedrock of the Community
United States
20753 Posts
 Posted 12/01/2017  08:54 am  Show Profile   Bookmark this reply Add just carl to your friends list

Contrary to lots of other opinions, I am against a local coin shop. Almost all have great overheads and need a large profit margin. This means you get the lowest possible return if trying to sell. And yes, it would be in your best interest to have them graded. Way to many fakes out there and as a raw coin, to many possible buyers are just to worried yours could be fakes and offer a really low price. If slabbed by a TPGS, that should help hold the prices to as much as possible. Look up coin shows in your area and go to them. At a coin show you would see and meet many dealers and they could give you more info and possible the best price for those.
Pillar of the Community
United States
7375 Posts
 Posted 12/01/2017  09:26 am  Show Profile   Bookmark this reply Add edweather to your friends list
I agree slabbing is the way to go, it provides greater protection for you. Then, if you have to sell, and ship them in the mail or something, a potential buyer can't swap them.
Edited by edweather
12/01/2017 09:27 am
New Member
United States
8 Posts
 Posted 12/01/2017  11:47 am  Show Profile   Bookmark this reply Add Voltron to your friends list
Thanks for all the advice. I'll start looking at "slabbing" them. Guessing that means putting them into the graded hard cases. Reason for flatting the staples? Potential to scratch through the plastic? Other than being put into these cheap cases, they haven't been handled in over 50 years. I was only aware of one of the $5 pieces. The other had been stored away somewhere by my father. He hasn't touched them since before college I'm sure. They may have been cleaned by an old relative back then, hopefully not. Either way I'll start sending them off one by one.

From the PCGS site, looks like about $30 per gold coin valued a most $3000. Is this the best option or could some be worth more. Any tips for submitting coins for slabbing...?

Thanks for all the help. Happy to share some more. I have a few interesting silver pieces and random ones too.
Pillar of the Community
United States
4212 Posts
 Posted 12/01/2017  12:35 pm  Show Profile   Bookmark this reply Add fioti to your friends list
I 2nd it, flatten those staples. I cringed when I saw the '80S 5D. The distance between

the ding on her lower neck & in front of her nose, is about staple length.

Scratched plastic, be danged, this is gold.

Think of it in terms, that everytime those 2X2s come in contact, your inheritance

loses value. I had to edit, these are handsome coins I'd be proud to

own. If I were you, I'd be eager to get my post count up.

You don't see an offering of classic gold here often.
Edited by fioti
12/01/2017 12:50 pm
Bedrock of the Community
13014 Posts
 Posted 12/01/2017  12:58 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list

Quote:
From the PCGS site, looks like about $30 per gold coin valued a most $3000. Is this the best option or could some be worth more. Any tips for submitting coins for slabbing...?


The regular service with the 3k limit should work fine. If one graded way over the max you might get a call about a higher fee but they generally only do it with egregious cases of it being over and since you inherited them they'd be understanding.

When you send them in either use registered mail which is the safest or express mail which would be the second safest.
Pillar of the Community
United States
1409 Posts
 Posted 12/01/2017  1:16 pm  Show Profile   Bookmark this reply Add afcop13 to your friends list
1. My condolences on the loss of your father. 2. Congrats on the very nice inheritance.

Everyone has a different situation, but were it me, I'd probably have a hard time selling those. I would (either way) go ahead with the PCGS route, and as others have said, flatten the staples in the meantime.
New Member
United States
8 Posts
 Posted 12/01/2017  1:50 pm  Show Profile   Bookmark this reply Add Voltron to your friends list
Can someone explain the flattening of the staples.... I apologize for the newbie question. Would like to store them the best way possible until slabbed. Thanks!
Rest in Peace
10197 Posts
 Posted 12/01/2017  1:56 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list

Those sharp edges have a tendency to poke through the plastic film and scratch your coin. A single scratch WILL LOWER the grade (TPGed) and will knock Hundreds of dollars in value, for one scratch! Use a pair of pliers, carefully to stay away from edge of coin!

A safer way to keep these are to put in plastic "cointains", individual capsule containers. Handle coins by edge when transferring to a capsule. Get those from LCS or on line.

Edited by Crazyb0
12/01/2017 2:00 pm
New Member
United States
8 Posts
 Posted 12/01/2017  2:33 pm  Show Profile   Bookmark this reply Add Voltron to your friends list
Awesome thanks. Will be careful with the staples, not looking to do any scratching.
Valued Member
United States
383 Posts
 Posted 12/02/2017  08:36 am  Show Profile   Bookmark this reply Add EarlyTurban to your friends list
Nice group of coins there! If it were me, I'd submit the 1861 $2 1/2 Quarter Eagle and 1899 $20/Double Eagle. While all are what is considered to be "common date", the QE is worth the submission effort because it looks to be a nice, original hi-AU coin. The DE because it's worth the authenticating & also looks to be a nice AU coin if you intend to eventually sell. The 1886-S $10/Eagle is in the XF/AU range, and if you really wanted to submit, will probably straight grade as XF45/AU50. The 1880-S $5 probably wouldn't straight grade, due to some obverse rim issues at 6 o'clock. The 1845 $5 will most likely not straight grade either due to what looks like hairlines from an apparent heavy cleaning.

ET
Valued Member
Canada
324 Posts
 Posted 12/12/2017  6:27 pm  Show Profile   Bookmark this reply Add Andy888 to your friends list
I would suggest sending them to PCGS or NGC. It will help a future buyer to know they are authentic (and they look to be legit) as well as where they sit on the grading scale. Beautiful coins mate.
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