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 Replies: 32 / Views: 7,237 |
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Valued Member
 United States
379 Posts |
typo... did "not" want to sound like a blowhard...
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Valued Member
United States
379 Posts |
and this is the same coin, the other one is not yet pictured... as soon as I figure out how to blow up by clicking on the first picture I will. the other two I was able to do it, just need to figure out how I did it... mike
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Pillar of the Community
United States
7375 Posts |
Wow, that's one heck of a coin. Good for you! Now $300 doesn't seem to expensive, probably insured to the max.
Appreciate your humility, not many of us will ever own one of these. Sorry it didn't grade higher, looks amazing. Not sure if it's worth a second try at maybe PCGS.
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Valued Member
United States
379 Posts |
Thank you for your kind words. Getting this coin is not what may appear and what people might think. I have a very modest retirement income, but instead of paying my bills I often buy coins instead. I am in the lower middle-class. how I was able to get this was that I sold 2 monster boxes of silver eagles at a BIG loss (like $8 an oz less than I paid for them), of course silver rose from about $14 an oz to about $20 within a month or so, that is how bad I wanted it. ok, I admit I am not the smartest collector out there. Yes, I would imagine that the insurance was a big part of it and the coin shop certainly had their cut. This coin is everything to me. I collect angels and have every possible 1 oz version of them except for the 1 oz. incuse gold angel, have a couple of the silver 5 oz silver angels as well. NGC values this coin at $25,000, which makes me think that NGC values are not all that reliable... I paid $18,000 for it. even if I sold it at NGC value, with the loss I took on the silver sale I almost broke even. what I do not understand is that NGC stops the valuation at MS 63. why not the 64 to 70 range? take a look...  in any case, thank you for your suggestion to maybe try the other service, but it won't be anytime soon... if the fee is still even close to $300 again, I cannot afford that amound again. I know it sounds weird, got a 20k+ coin but too cheap (right now) to have it re-graded. thank you for your kind words about my coin. if anyone knows why they stopped their valuations at MS 63, I would be curious if anybody had an idea why... thanks again... mike |
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Rest in Peace
United States
7075 Posts |
What a great coin! Best angel ever.
I think you're wise to take a step back and wait on getting it re-graded.
Anyway, I'm glad you posted a photo. I couldn't figure out why you paid so much for grading and not knowing your level of experience -- well, I was a bit worried about the whole thing.
It's a beauty and I hope you enjoy it for a long, long time.
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Valued Member
United States
354 Posts |
15 ounces of gold? wow...
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Bedrock of the Community
United States
17884 Posts |
Quote:
Yes, I would imagine that the insurance was a big part of it and the coin shop certainly had their cut. Sent Registered the insurance for that, fully covered for $25K would have been about $50. I they shipped it Priority insured it would have been a lot closer to that $300, and would have been covered for no more than $5K. |
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Bedrock of the Community
United States
11951 Posts |
Thanks for posting the coin.
It is very nice looking, and I am sure would be more than welcome
in anyone's collection.
The $300 fee .. Does make more since now.
I have not checked, but I am sure coins in over sized holders like
this one have a much bigger grading cost.
Shipping both ways is much higher.
Insurance would be high. Some coins shops use private insurance,
not the shippers insurance. But I would bet NGC charged more for
return of the insurance.
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Pillar of the Community
 United States
4594 Posts |
Krause ( here via Google Books) indicates there was a mintage of 150 coins and 10 proofs. Hence the MS vs PR/PF designation: NGC classed this as a non-proof. As for the price guide, with a mintage of 150 or 10 and a NCLT, it's largely meaningless anyway. Of the 4 that NGC has graded, 2 67s, 1 68 and 1 69. Both Krause and NGC agree that the proof version is only worth a small premium. Realistically, it's worth what it sells for and your ebay purchase at 20K is what defines the market until the next one is publically sold. Published NGC prices (Dealers get a small discount): Walkthrough service (required by coin value): $125 Oversized holder: $25 Invoice fee: $8 Return shipping/handling: $62 Total: $220 You have to figure the shop paid about the same to send the package to NGC with appropriate insurance, so add another $62 And the cost to have this graded is $282. Just to put in my usual plug, you could have joined the ANA for $28, obtained a free NGC submitter # and done it yourself for $310 all in. Plus received a year of The Numismatist. So, no, the shop didn't take a big chunk of the fee, this is the kind of service a real B&M does to keep the good customers coming in the door. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
3058 Posts |
That is an awesome coin! I can't believe it is a whole 15 oz!  |
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Valued Member
United States
81 Posts |
I think if someone wants to buy a single 15 ounce gold coin, the MS grade is going to be largely irrelevant. I would *not* encourage you to play the grading game with this coin, because the bullion value is a far greater indication of its worth than the numerical grade. I would wager these didn't circulate a whole lot...
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Pillar of the Community
United States
4594 Posts |
True that... From NGC:
Isle Of Man 15 Angel KM# 189 1987
Specifications
Composition: Gold
Fineness: 0.9170
Weight: 508.9575g
AGW: 15.004oz
Melt Value: $20,135.37 (8/20/2016)
When you bought it on December 29, 2015, gold was at 1,061 vs. today's 1,341. Given you paid 1,333/oz or $272 over spot and assuming that premium holds, it's worth a little more than $24K. Nice gain.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
Canada
1192 Posts |
I am a huge fan of Isle of Man coins. Yes, it is a very low mintage and is technically "rare". But even rarer than this coin is a retail buyer for it.
This is another case of "why grade a bullion coin?".
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Valued Member
United States
379 Posts |
thanks all for the complements and thoughts. I have been following and collecting isle of man angels for years now, nearly all 1 oz., I have them all except for the INCUSE 1 oz. gold angel. Contrary to what might be assumed, I have a very modest lifestyle and income, it is just that I have become addicted to accumulating coins, especially the angels. how can I afford to do this? simple. I don't pay my bills until forced to and buy coins instead! the guy originally wanted 20k for it, then he had a "sale" on it, bringing it down to 18k. you would not believe what losses I incurred in order to get this one, I sometimes follow a single coin for months on end. ebay has not been my only source, I have gone through APMEX and a number of other non-eBay coin sellers. In 8 years, I have seen about 6 of the 5 oz angels, 2 of the 10 oz angels, 2 of the 15 oz angels (one I bought, the other one in ms 68 is on ha auctions to be auctioned off in a few weeks. the latest bid on that one is $14,000, auction is on 9.9.2016. here is the listing for that one, in my opinion mine looks better and that I why I was grousing about getting the 67 grade. https://coins.ha.com/c/search-resul...K-Y-Z-071316I have never seen any of the 20 or 25 oz angels for sale. I agree that the coin has a very limited market. Once I was interested in a 10 oz. angel but the guy wanted too much in my opinion, he would go no lower than 18k at a time when gold was lower than it is today. again, thanks for your comments and thoughts... mike |
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Pillar of the Community
United States
1913 Posts |
I'm not at all big on slabs, but I wouldn't have purchased the coin to begin with unless it was 3rd party certified. There's definitely a great deal of potential for fraud here. So, it's good that you now know for sure that it's authentic. I think that in and of itself is worth the cost of submission. I honestly wouldn't sweat the 67 versus the 68 thing. They were probably just overly conservative because they don't see many of them. You're dealing with an extremely thin market. If you ever go to sell, it will likely take time to find the right buyer.
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Posted 08/12/2016 02:54 am
