1776 1976 Large Gold Medal

Congrats!

Thanks Junjun. Now I need to hide it again until I figure out what to do with it and hope I don't forget I have it.

This thread is a good example that forum members should be sure that the information or advice they are posting is accurate. The first response DKI got was that it was gold plated and worth $10.

Thankfully people who actually know what they're talking about posted the correct information.

And thankfully DKI didn't just take the first response that it was gold plated and worth $10 and leave the thread and not come back. There's a huge difference between $10 and $16,395. Sheeesh.

Thanks for the advice. I never thought about it getting worn from the case or taking it out. I just have it put away for now until I figure out what to do with it. Torn between keeping because it's cool and rare. But not sure about its value dropping.

Thanks again for all the info and insight on this piece.

If it were mine, I'd put it in a Stack's or Heritage auction. It needs to be exposed to the right audience (Buyers). You can always negotiate the selling fee and put a reserve on it.

Local dealers, if they are honest, will offer you close to "melt" value for the gold unless they have someone that collects this kind of stuff and has deep pockets.

The "We Buy Gold" places, pawn shops, hotel coin buyers and fly by night dealers will offer you no where near its true worth. They will all want to test it for gold content and some may even damage it.

If you like it, keep it and pass it down to your family as an heirloom. Besides gold is way down right now but will eventually recover.

I remember these being advertised by the mint. However my paper route money was not adequate to allow me to purchase one, but I did get some GSA CC dollars from the mint for $15 each back in the 1970s.

"So that extra 14% that you get above melt MAY be consumed in brokerage/seller fees as well as shipping and insurance."

No reputable numismatic auction house would charge a sellers fee for an item of this level of market value. Any of the major houses (Heritage, Goldbergs, Stacks-Bowers) would jump at the opportunity to handle an item like this. A consignor should expect to successfully negotiate for 105% of the hammer price for this medal.

I agree fully with tenacious. As the adage goes, "A little knowledge is a dangerous thing", with the emphasis on little.

Judd since you're above reply, you had quoted my response...and from reading your reply, I have to believe that I have little knowledge...
If that wasn't your intention, I will have to say that's certainly how I read it!

Now when I first read this thread I honestly knew very little about this medal. And while there is VALUE in this coin as it's made of gold ... there really wasn't anything I read that this coin has an important historical significance, exceedingly low mintage numbers or ranks on the rarity scale.

As such a coin/medal of this nature holds MOST of it's value in gold content and very little in numismatic content. Now if I'm wrong could you please show me examples of sales where this medal has far exceeded it's PM value?

I am well aware that auction houses can change their fees and premiums depending on items especially if that item will draw certain bidders, media hype or type of collector. But you state that
which means that the auction house actually pays you not only full hammer but a percentage ABOVE hammer for this item!!

I just don't see it! Not from what I've read about this medal.

The information I gave stands! One has to be careful that if they put this up for auction that the fees, shipping and insurance will NOT be of lesser amount than what the could sell for as bullion. That's something everyone should concern themselves with when sending in items to an auction.

Now I just spent a good 20 minutes on the phone talking with Heritage, and unless you have a very special relationship with them, the individual I spoke with didn't seem so excited that they were willing to negotiate 105% on the hammer... If you can get them to do so and put it in writing... I'll be happy to print up this page and literally eat my own words... Course if you can't... perhaps an appology might be in order