Looking For My First Gold Dollar Purchase

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Author	Replies: 6 / Views: 1,185
fromms2244 Valued Member United States 461 Posts	Posted 12/11/2012 11:40 am So I bought a book. I have looked online (PCGS photograde, on this forum, etc). I have found an establishment with some standard Gold Dollars ranging from 1849 to 1852 that is asking $130 each. The grades range from f to xf. I think I can get a great deal on one, however, my question is.... Is there some things I need to look for in the way of damage from it being an old jewelry piece? Or some other diagnostic I need to be looking for that I am not? Any help would be much appreciated. Report this Post to the Staff

nicscoin Valued Member 107 Posts	Posted 12/11/2012 1:00 pm Best bet is to buy it from a reputable dealer.. There are lots of fakes and cleaned jewelry pieces.. Report this Post to the Staff
IndianGoldEagle Bedrock of the Community United States 36745 Posts	Posted 12/11/2012 1:10 pm These were heavily counterfeited in Lebanon in the 1960's and 70's. Even with my 50+ years collecting, I opted to only buy one that was TPG certified. You may have to spend between $200-250, but better safe than sorry on these. Many of these coins come with weakly struck areas on them so look for a nice full strike if you can find one. I found this one for $200 in an NGC holder. Edited by IndianGoldEagle 12/11/2012 1:12 pm Report this Post to the Staff
mkman123 Pillar of the Community United States 3184 Posts	Posted 12/11/2012 2:32 pm $200-250? These are going for about 300-400 for the common ones now! Report this Post to the Staff
Tom B Valued Member United States 168 Posts	Posted 12/11/2012 6:34 pm I would suggest you purchase a coin in an NGC or PCGS holder with a problem-free grade at least until you are very familiar with the series. They may cost a tiny bit more, but they are more liquid and you can count on them being genuine. Report this Post to the Staff
OneBowl Pillar of the Community United States 759 Posts	Posted 12/11/2012 7:36 pm Obviously test size and weight and carefully inspect the rims for signs of solder, solder removal, tooling or just plain damage from a bezel. Take an extended period of time to compare the coin under magnification to your pictures. If it takes you 15 minutes or more, don't worry about it. Research counterfeits. None of the above is a 100% guarantee, but if you can be relatively certain it's gold, at $130, you're only risking about $47 since melt is $83. The price point makes me a bit suspicious, but maybe you just found a good deal. See if you can swing return privileges if a second opinion raises concern. Good luck and post pics. Report this Post to the Staff
fromms2244 Valued Member United States 461 Posts	Posted 12/11/2012 9:46 pm Thanks for all the input. I know the price is a scary deal. I have picked up several great pieces from this place. This is a link to one here. https://goccf.com/t/134331 Sometimes I just don't think they know what they have. The return idea is probably a good one though. Report this Post to the Staff
	Replies: 6 / Views: 1,185

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