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 Replies: 19 / Views: 3,426 |
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Pillar of the Community
 United States
6556 Posts |
Quote:
I wonder why the seller didn't have it certified. With only 1,500 minted it's a big bucks coin in any grade. For me, that's a huge red flag. When the cost of certification is far less than the value of the coin, but the coin is being liquidated raw, something isn't right. |
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Moderator
 United States
189340 Posts |
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When the cost of certification is far less than the value of the coin, but the coin is being liquidated raw, something isn't right. I share this concern. The TPG process seems like a minor inconvenience for something with such high value. |
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Pillar of the Community
United States
3663 Posts |
I rarely have coins certified, but my one standing rule is to slab all of the classical gold coins. The slab makes the coin much easier to sell and it also makes it more easily insurable as inventory. The TPG photos can help identify the coin if it is stolen. I'm comfortable authenticating most gold coins in hand, but I want my clients to have that TPG safety net for their peace of mind. We can always do bourse floor quibbling later with the assigned grade or a details designation, but authentication is the ballgame. That's one area where all the major TPGs excel. |
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Valued Member
United States
345 Posts |
I wouldn't hesitate to get this graded ... in fact, a must for me ... confidence / peace of mind
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Valued Member
 United States
175 Posts |
Thank you for your replies. Going to have the coin checked by local coin shop. Said he had all the tools to determine if genuine. Will report back. Thank you!
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Moderator
United States
189340 Posts |
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Said he had all the tools to determine if genuine. Will report back. Thank you! Excellent!   |
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Valued Member
United States
450 Posts |
Good Luck rum n cola. I hope it works out well for you. If it does, you've got a really nice coin there.
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Valued Member
United States
175 Posts |
Went to several reputable coin shops today. All of them said details appear to be weak for as good of condition it is in. Said possible was just cleaned which could be reason for the duller than expected details given coins condition. Was tested and is gold. They put it on machine that linked to computer and it tested as genuine. All of them said they would pass if they were offered the coin. They said even top tier coin grading companies have trouble with these given how good these were faked. One coin shop owner stated he believes there are likely several fakes in top tier grading service holders. One shop was able to take a true image photo. I have added that. My return window is closing. Paid $1100. Probably should just go ahead and return this huh? Such a nice coin and if indeed real, a great price too.  |
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Bedrock of the Community
United States
25487 Posts |
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Paid $1100. Probably should just go ahead and return this huh? Such a nice coin and if indeed real, a great price too. I would return it - too many questions. Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
892 Posts |
 Price alone is too good to be true for such a rare coin. Greysheet VG8 retail is currently listed at $2,000 |
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Pillar of the Community
United States
6556 Posts |
I am not quite sure that I understand. The current melt value on 5 grams of 90% gold is about $1400. If the coin was verified as gold, wouldn't it be better to sell it for melt rather than return it?
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Pillar of the Community
United States
892 Posts |
BrandM, melt is about $450, not $1,400.
Edited by adam126402
03/29/2025 7:30 pm
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Pillar of the Community
United States
6556 Posts |
Ok, thanks. I don't know why I got $1540 from Google for 5 grams of gold earlier. Makes complete sense now. =)
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Valued Member
United States
345 Posts |
Interesting facts and responses ... the "gold value" point, convincing.
I am grateful that PCGS had their quarterly special on US gold last year ... ALL graded now.
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Bedrock of the Community
United States
17884 Posts |
I'm sure it's too late now, but did you look inside the upper loop of the R for an Omega? The 1882 three dollar gold was the other coin that he did. An 1882 Omega counterfeit would be the correct weight an material so most of the machines used for detecting fake gold wouldn't catch it. I don't know but I would suspect an Omega coin would bring a premium, not over the the price of a genuine 1882, but probably a premium over the melt value.
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Posted 03/25/2025 09:42 am
