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 Replies: 19 / Views: 4,156 |
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Pillar of the Community
United States
863 Posts |
I found a pawn shop with an 1880 liberty head $5 gold coin for sale and I was wondering what these go for. ungraded, circulated condition. they have a price tag on it for $525. I'm sure I can lower it but I have never looked into buying gold coins because I have never seen any for sale.
What should I look for when purchasing this coin?
what are fair prices I should offer?
Are there any key dates with this type of coin?
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Pillar of the Community
United States
759 Posts |
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Moderator
 United States
14463 Posts |
That coin's current spot price in gold is about $391 If it was slabbed/graded/authenticated and looked good, $525 would be okay. But unless its slabbed or verified by an actual coin dealer, you would be taking your chances. If you can have it checked, offer $400 then let them talk you up to maybe $450
Updated: FYI - an online dealer that I have used has 1880-1908 (random date) PCGS MS-61 for $515
Edited by Fuzzy317
05/23/2012 7:07 pm
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Pillar of the Community
United States
5854 Posts |
$525 would be approximately the price of a certified MS-62. If the coin is lightly circulated then somewhere around $420-440 would be fair. If well worn or otherwise a problem coin, I would probably offer melt. I am assuming that you checked the mintmark of the coin.
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Pillar of the Community
1283 Posts |
$525 is to much unless its in awesome condition.
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Pillar of the Community
 United States
863 Posts |
What mint marks should I look for
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Moderator
United States
14463 Posts |
Mint Marks: blank(Philadelphia), S(San Fran), and CC(Carson City). Below is CCF reported population:
Date Circulation Strikes Proof Strikes
1880 3,166,400 36
1880-S 1,348,900 0
1880-CC 51,017 0 Edited by Fuzzy317
05/23/2012 10:40 pm
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Pillar of the Community
United States
5854 Posts |
Fuzzy has listed all the mintmarks for that date. Just in case you didn't know, it is located under the eagle on the reverse. The Philly and San Fran have similar values while the Carson city carries a premium in all grades.
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Pillar of the Community
United States
652 Posts |
Be careful it's not a fake. At least take a balance to weigh the coin, unless the pawnshop has an accurate one. 8.359 grams is the specification for an uncirculated half eagle.
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Valued Member
United States
367 Posts |
Unless it was graded I would not pay that much. I sold a couple yesterday. I am unsure of dates and mints on them. They were being sold for bullion gold. I would have graded them AU. I sold them for $410 each, but gold was also $25 less at the time.
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Pillar of the Community
United States
863 Posts |
I offered 410 on the coin. Spot on the gold was 392. The guy tried telling me that I was paying under spot price for gold and than went into some penny weight conversion thing. He dropped to 475. Still too much it was in really good shape. Lots of luster left on the coin but they ruined it when they checked to see if it was real gold. They left a deep scratch in it.
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Pillar of the Community
United States
863 Posts |
Sorry, I didn't mean to submit that.
In the end he tried to use some penny weight conversion that completely confused me. I told him exactly what it was worth and offered $20 more. He didn't take the offer. Maybe he will see when it never sells for his 10 % profit over gold value which is what he says he needs to make. Ill probably go back every month and offer the same amount lol
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Pillar of the Community
United States
863 Posts |
Do you have any more coin hawk?
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Pillar of the Community
United States
5854 Posts |
Quote:
Lots of luster left on the coin but they ruined it when they checked to see if it was real gold. They left a deep scratch in it.   Did he test the coin in front of you or was that something they did sometime in the past? Definitely a pass as you can get a much nicer coin for what he is asking. Just in case you were curious and didn't know, 20 dwt(pennyweight) = 1 troy oz. That unit of measure seems to be commonly used to buy and sell jewelry. Edited by D0ubl3Eagle
05/24/2012 2:18 pm
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Pillar of the Community
United States
3184 Posts |
Stick with a slabbed one, that coin is ruined after they tested it
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Valued Member
United States
367 Posts |
Sold them all yesterday  |
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Replies: 19 / Views: 4,156 |
Posted 05/23/2012 7:03 pm
