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Latest $3 Gold Purchase. Is This A Keeper Or Not?

 
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Author Previous TopicReplies: 14 / Views: 685Next Topic  
Pillar of the Community
United States
3174 Posts
 Posted 05/26/2022  9:28 pm Show Profile   Bookmark this topic Add Prethen to your friends list Get a Link to this Message
This 1874 $3 is overall a very nice, well detailed coin. It has no major issues. The marks on the coin I find are pretty typical for $3 gold. Under the right light, you'd notice rub on only the highest points of the hair/crown/face. So that would define it in the AU 58 range. However, I'm a little taken aback that the luster is only around the periphery (essentially the obverse fields show rub). I have another AU58 $3 (it's CAC'd) that has full luster except for the points of rub.

The reverse is almost mint state...very nice detail...nothing to criticize in my opinion.

This was an eBay win. I got it at a price that's at least $200 less than I could find a similar coin anywhere. The only reason I'm on the fence is the missing luster in the obverse fields. For those of you that have $3 gold, is this not out of the ordinary for a 58?

Keep it or return it?

Edited by Prethen
05/27/2022 08:42 am
Pillar of the Community
United States
5871 Posts
 Posted 05/26/2022  9:56 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
Luster and strike look good, with reverse more attractive and original-looking. The obverse shows small parallel hairline scratches that could be evidence of a light cleaning. They're probably exaggerated by the photo but I've seen coins with similar marks flagged as cleaned. NGC however didn't see a problem and the grade seems appropriate.

If you are happy with the purchase that's the bottom line. Congrats!
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United States
70143 Posts
 Posted 05/26/2022  10:36 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
A grade of 58 sounds right.
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United States
3672 Posts
 Posted 05/27/2022  12:52 am  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
The grade looks typical for a AU58, but it may of had a market acceptable obverse cleaning that contributed the lack of luster in fields as there are hairlines.
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United States
4658 Posts
 Posted 05/27/2022  01:29 am  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
I think it's market acceptable AU-58 but I'd prefer one without the hairlines.
Bedrock of the Community
United States
45698 Posts
 Posted 05/27/2022  04:31 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
For a second I thought you paid $3 for it. You might want to add the word Gold between $3 and purchased.
John1
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
Pillar of the Community
United States
3174 Posts
 Posted 05/27/2022  08:49 am  Show Profile   Bookmark this reply Add Prethen to your friends list Get a Link to this Reply
I agree and understand about the comments of the hairlines on the obverse. As I look at more and more $3 gold and of the ones I own, I see that this is fairly common place. For some reason, $3 gold coins seem to be very susceptible to hairlining. Could it be a light cleaning? Perhaps. My other pieces are in PCGS plastic and they also make the same determination on pieces like this. Unless I go mint state (which I really don't wish to budget for), I think I will probably see this on most of the material I'll come across. I'm sure there are $3 coins out there with very little surface abrasions but I just don't see them all that often.

So you'd be satisfied with the obverse showing XF/AU luster while the reverse shows practically mint state luster? Again, I'm on the fence still. This is really my only concern about the coin.
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United States
2248 Posts
 Posted 05/27/2022  11:32 am  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Too many hairlines for a real AU-58 coin. The NGC grader must have been in a really good mood, or drunk perhaps.
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Taiwan
360 Posts
 Posted 05/27/2022  12:09 pm  Show Profile   Bookmark this reply Add Everest to your friends list Get a Link to this Reply
Return it. If you are on the fence you are not committed. Your reference to your other $ 3 AU 58 CAC should give you a solid comparison. IMO you should never talk yourself into a coin. There are more than 1500 $3 1874 AU58 graded coins between PCGS and NGC.
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United States
1305 Posts
 Posted 05/27/2022  7:21 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I would hold on to it for two reasons. One, the price you obtained it for and the grade assigned despite the lack of obverse luster. I would imagine that it does not look too out of place next to another in or near the grade. Second, reselling it in the future would bring a bit of a profit. To return it you'd only be breaking even. But this entirely a decision of you're own choosing. Personally, I like it and may have bid against you had I seen it.
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 Posted 05/27/2022  7:30 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Pictures with different lighting angles would be helpful in evaluating eye-appeal.
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 Posted 05/27/2022  8:16 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
Looking to a $3 gold piece for my collection, but the price...oh!

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Australia
19828 Posts
 Posted 05/27/2022  10:28 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
From reasonable quality pictures on my 24 inch screen monitor, looks OK to me, when combined with the above comments by others.
To settle your mind a bit further, you may wish to take it to a dealer who is familiar with this series. Somewhat of a pity it is slabbed,- it is easier to very closely examine any coin in the 'raw', especially when it comes to very accurate weighing and XRF testing.

, 58 looks about right.

At $200 on eBay below the average call for the condition, I think you may have got away with it. I am not all that keen with eBay with expensive coins, except from known professional dealers with the best of reputations. eBay OK with cheaper coins.
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 Posted 05/28/2022  10:28 am  Show Profile   Bookmark this reply Add Prethen to your friends list Get a Link to this Reply
I'm going to return it.

You guys had some great comments here. I think the comment that really told me what my gut was already saying was: "...you should never talk yourself into a coin". It's true it was a great price, but the obverse will always be an albatross when trying to resell and bring down any eventual sales price.

Technically, perhaps the grade is correct. However, the look (at least from the obverse) says "this is an AU50 (with claims to an AU58)". A bizarre situation. However, it would always bother me with it not having true AU58 luster even for the money. It's unfortunate that the eBay seller didn't have better pictures to begin with but that's kind of par for the course with eBay.
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United States
2008 Posts
 Posted 05/28/2022  10:35 am  Show Profile   Check jacrispies's eBay Listings Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
I think you made the right decision. If you are unsure if you would like to keep a coin, don't. You want a collection of WOW coins, not just average coins.
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