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 Replies: 13 / Views: 1,610 |
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Valued Member
United States
240 Posts |
Liberty Head Half Eagle My friend has 2 Liberty Half Eagle gold pieces which he will sell to me for $485 for both(242 each). They are in pretty good condition. Will I be able to sell these to a dealer at a coin show for a quick profit, or will I end up losing money. Do dealers generally offer melt? Or below melt? |
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Bedrock of the Community
United States
11951 Posts |
If they are common mid grade Half eagle most dealers
Will give you back of melt for them.
A good dealer might give you 90 to 92 percent.
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Pillar of the Community
Canada
5417 Posts |
Doesn't matter what a Dealer will offer you. The melt of value of two half eagles is ~$633. If they're genuine you should jump on that offer.
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Pillar of the Community
United States
1903 Posts |
If your FRIEND needs the money, why don't you suggest he sell them to a dealer himself? Why cut your friend out of what value he has?
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Pillar of the Community
968 Posts |
Give your friend $550, sell them on ebay for $700 as a pairing. Your buddy gets more money, you still clear $75 on the transaction. |
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Bedrock of the Community
United States
10982 Posts |
Are you sure they not quarter-eagles? The $242/each price makes some sense for G$2.50 pieces but no sense for G$5. As noted gold half eagles melt for about $316 and that's for low grade common dates.
Anyway, to answer your question: Most dealers will pay slightly below melt for generic circulated classic gold. 90% to 95% of melt is normal for good dealers with some unscrupulous characters offering far less than 90% of melt.
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Pillar of the Community
 United States
4589 Posts |
First off are you sure they are real? Far, far too much of the raw gold floating around out there are fakes. Just because he's 'had them a while' doesn't mean anything. I had my 'gold' dollars which were given to my by my grandfather in 78 or 79 checked by NGC at ANA - known fakes from the 70s made in Lebanon. As for gold content - that's the fastest test. But you want non-destructive testing, not scratching the coin on a stone and testing with acid. The nice jewelry vendor a couple tables down used his XRF [x-ray flourescence] device and found they were both just under 18kt. Which makes sense, they melted old jewelry to obtain the gold. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Valued Member
United States
156 Posts |
If I had a friend, I wouldn't be trying to make a quick flip off of him. But that is just me.
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Pillar of the Community
United States
2815 Posts |
Quote:
If I had a friend, I wouldn't be trying to make a quick flip off of him. But that is just me. Same here. |
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Pillar of the Community
United States
1476 Posts |
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Pillar of the Community
United States
919 Posts |
This is sounding like many other threads where the coins end up being fake. If it is really a friend take him to the store and help him.
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Valued Member
 United States
240 Posts |
Ive told him there potentially worth more, he has told me he cant be bothered. Therefore thats why hes offering them to me.
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Pillar of the Community
United States
1158 Posts |
Makes it sound even more fishy. He's too busy to go make another $200 at the dealer but he needs the money?
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Pillar of the Community
United States
7614 Posts |
Take the coins on consignment from your friend for a couple of days. Take them to your local dealer and see what he offers you for them. If it's more than what your friend wants for them sell em, pay your friend what he was asking and pocket the difference for your time and trouble.
The dealer will know whether they are counterfeit or not before he makes you an offer.
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Replies: 13 / Views: 1,610 |
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Posted 08/08/2014 11:20 pm
