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Do Cleaned Gold Coins Have Any Numismatic Value?

 
 
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 Posted 05/24/2018  12:15 pm Show Profile   Bookmark this topic Add Sharkman to your friends list Get a Link to this Message
We found a 1912 gold type set among my father in law's possessions after he passed away. The coins look nice, but they were encased in a cheap plastic holder inconsistent with coins of this value. I saw nothing obviously wrong with them, but thought that based on the unimpressive presentation, there might be something wrong with them, and I suspected cleaning.
I took them to a dealer who confirmed my concerns and told me they had no numismatic value beyond the value of their gold content. This is,of course disappointing, I do see cleaned coIns selling from time to time, and , albeit at a substantial discount.
The coins do not look bad. Even under magnification I have neither the skill nor the eye to see anything that makes the coins unattractive. I have no intention of selling them for scrap, as they are my only examples of these types, and they are interesting and attractive to me, at least. The double eagle has a rather low mintage of a little over 100,000, and is therefore somewhat scarce.
Do I have anything worthwhile here, or should I just keep them as a remembrance of a man I cared deeply for, and as items in my collection that are otherwise unrepresented?
I have no present desire to sell them, but would like to know if they have any meaningful numismatic value.
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30485 Posts
 Posted 05/24/2018  12:27 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF. Pics of the coin would be needed. If the retail value of the coin is justified after slabbing,it might be worth having said coin "conserved" by the TPG.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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 Posted 05/24/2018  12:29 pm  Show Profile   Bookmark this reply Add jmwilson to your friends list Get a Link to this Reply
It doesn't matter if they don't look bad (which is subjective). If they looked cleaned (because they've been cleaned) ... then you likely have coins of bullion/melt value. There might be exceptions with a truly rare date, but even its value will be reduced significantly because of the cleaning.

At least you weren't the one that ruined the coins!

A few years ago, I heard about a widow that turned $85,000 - $90,000 of numismatic value coins into a pile of silver worth less than $14,000 at this time (at today's prices ... that would be about $6,000 - $7,000). She even kept the PCGS grade slips from the holders she broke open before buffing each coin until it looked like silverware. She got mad at the coin dealer when he tried to explain. She was convinced he was trying to rip her off. She really thought she had made the coins worth even more by cleaning them.

Edited by jmwilson
05/24/2018 12:31 pm
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 Posted 05/24/2018  12:29 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Their historic and sentimental value make them unique.

If I were you I'd contact the conservation arm of the NGC and see if they can restore them.

The good news is - gold is by far the easiest to conserve.
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 Posted 05/24/2018  12:47 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Yes, cleaned gold can have more value than the spot price of gold. Post a photo of both sides of your double eagle in the grading forum. Once you know the grade, you can find like cleaned examples that have sold in TGP holders. This will allow you to assign a value to the coin.
Edited by Slider23
05/24/2018 12:48 pm
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 Posted 05/24/2018  12:58 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply




to the CCF!
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 Posted 05/24/2018  1:36 pm  Show Profile   Check chafemasterj's eBay Listings Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
Welcome to the Forum!

Edit:
Check out my counterstamped Lincoln Cent collection:
http://goccf.com/t/303507
Edited by chafemasterj
05/24/2018 4:32 pm
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 Posted 05/24/2018  2:40 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
with Coinfrog and Slider.

to the CCF!
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 Posted 05/24/2018  3:50 pm  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
If the coin is a better date, it will still have a premium over melt if it has been cleaned.

However, most of the common stuff will only be worth melt
Sets in progress... Mercury dimes, Washington quarters, 7070 Type Set, WLH Short Set
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16021 Posts
 Posted 05/25/2018  1:25 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
I don't know gold well, but I know even uncleaned most US gold isn't worth much more than melt unless they are truly RARE dates, or HIGH MS grades. Especially to a dealer that is going to have to try and resell it for a profit. There just aren't enough collectors of gold. Hoarders, maybe type collectors, but not date and mint collectors and that is what you need for numismatic premium value. With such a small number of collector there are enough of all but the rarest date and mint coins to go around so everyone can have one.
Gary Schmidt
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 Posted 05/25/2018  5:50 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
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