1853 Gold Eagle - W/O Distractions, If Possible

I have added 3 additional photos to the original post showing the full reverse, bherring1964. I hope it helps.

A local dealer told me, today, that he wouldn't grade it over a VF 20 or 25. Maybe he was afraid I'd ask him to buy it. I am really trying to decide whether to keep it, now that I have it in hand. He also referred to the coin as "common" because of the 201k produced in 1853.

I thought that was still a small absolute number, given that (if true) over 95% of the gold coins prior to 1932 were recalled and melted down. This is the only (semi) affordable 1853 gold eagle I have run across to fill a space in my 1853 denomination collection. I just want to make sure that I am still not being taken. Your input is most appreciated, as I have another 5 days to return it if desired. Thanks all.

The rim has two nicks at 1:00 which do not extend over or around the edge. With shipping and insurance, I paid $581. Too much?

The average retail sales from the NGC price guide at the grade of EF40 shows at $640, and at $750 from the PGCS price guide. Those amounts, as I understand it, are average retail sales from a variety of sources, including many dealers, auctions, etc. If that is true then I am not understanding your valuation. I hope you can explain just a bit further for this newbie. The price you stated, in fact, was about the wholesale price the dealer gave me when he graded it it a VF20 or 25. I guess I am experiencing glitch in my learning curve. Anything else you could provide to clarify would be most appreciated.

The only ones I have found, top tiered slabbed, are for higher AU and MS grades. The cost of those are prohibitive to me unfortunately. $1200/oz? You really think so?

Thanks so much for staying with this. Your feedback and information is very, very helpful. I see what you mean about the price range. One caveat, however. None are 1853, the year that I am collecting, at present. The few on ebay for that year are relatively rather expensive.

I don't understand how a mintage of 201k, for the 1853, can be considered common, especially with the recall and melt down in the early 1930's. Any thoughts?

Are you also of the opinion that this coin is worth only a bit over bullion value, ShadowCreator? I still don't get the "common" designation.

Please remember that numismatic coins were excluded from the recall and melting. Your coin was 80 years old at the time of the recall so it would have been exempt. Most of the gold that was melted was coined in the 1920s & early 1930s.

Mintage of over 100,000 makes nearly any gold coin common. Many dates and Mintmarks are well under 50,000 pieces. Your coin being an 1853 does make it more valuable than say a 1906 but not by much.

Does 1853 have significance to you? If it does the premium may be justified.

Good Luck!

An update: I contacted the seller about the concerns to which you have all generously alerted me. As it is within his seven-day return policy, he stated he wanted me, as all of his customers, to be happy, and would promptly refund my money upon receipt of the coin.

But he also offered me the option of refunding $100 to my paypal account as an alternative since I am trying to complete an 1853 denominational collection. This would bring what I will have actually paid back in line with what most have suggested its value is, i.e., bullion plus maybe 10%. I think this ebay seller is giving ebay sellers a bad name; he truly goes above and beyond to satisfy a buyer. Something should be done!

I cannot thank you all enough for the education you are providing, and for the savings that have come as a result. As mentioned before, I appreciate your generosity of imparting knowledge, but also your generosity in helping to protect me, a total stranger, from himself in the early throes of a bumpy learning curve.

Thanks. I did take the $100. And I am beginning to believe you about the $1200/oz price of gold. I was amazed to watch it go back over $800 most recently.