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 Replies: 18 / Views: 3,657 |
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New Member
United States
8 Posts |
Hi, I'm a new member and I know nothing about coins -- except that 20 nickels make a dollar. I inherited this coin from a relative and did a little research. I believe it to be a 1911 $5 Half Eagle gold coin, but there seem to be several different types of this coin, with a wide variety in value, and I don't know which one I have. Are these photos clear enough for someone to give me more information? Many thanks,  Edited by MortSalt
04/15/2015 11:58 am
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New Member
 United States
8 Posts |
The B-side.  |
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Pillar of the Community
United States
7390 Posts |
Hi and  ... you found the right place! I'ma silver guy, the gold guys will be here soon... But if possible we like photos of at least both sides of a coin to offer opinions. And if you could crop them to just outside the rim that would be best |
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Moderator
 United States
23522 Posts |
Welcome to Coin Community, MortSalt. What you're seeing in terms of "variety" is the grade - wear condition - of the coin and not different "types." Condition is everything to a coin's value. Coins are graded on a 70-point scale called the Sheldon Scale, with 1 being the worst (Poor-1), a barely-readable coin, and 70 being literally "perfect," a fully-struck original coin never circulated and without so much as a single mark on it. Numbers 1-59 are used for circulating coins - not all of those numbers are used, the distinction is too fine - and 60-70 for coins which have not circulated. We call those "Mint State." Although just about everything can be counterfeited, your images are quite nice and from what I see there's no doubt your coin is real. However, it is very difficult even for an expert to determine that narrow margin between a coin which has circulated slightly and one which is Mint State. We call that type of coin a "slider" and this is one. Differences in the quality of the original strike look just the same as a bit of circulation, so it gets complicated. So. I have to make a decision here.  As you know, gold is soft and scratches very easily, even gold alloyed with 10% copper as most gold issues are including this one. Your coin has very few of these marks, but sufficient for me to think is has seen that very slight bit of circulation. I may be wrong. Coin grading is above all subjective and the next person along may differ in opinion even though they may be as good or better a grader than I. I'm calling this one AU58, the highest "circulated" grade assigned. There is a slight possibility that the coin was once mounted in a necklace - note the faint circular lines visible near the rim at some points of obverse and reverse. However, were that the case I would expect there to be signs of wear from having been worn. If adjudicated as an ex-jewelry piece, it would receive what we call a "Details" grade because it is no longer considered "original" - prized in numismatics - and the value would be affected. Less so in your case because very, very little damage has been done. I need to mention the possibility, though. 1911 from Philadelphia - the lack of a mint mark confirms the Philadelphia Mint - is a common issue, readily available to the collector. As such, its' value tends to track the bulk value of gold somewhat, moreso than scarcer issues whose value derives more from rarity. Even so it will carry a "numismatic premium" over the price of raw gold. As of this writing, the raw gold value of your coin is $289.56 (that will change a bit by Close of Business today). If my assessment is correct, the coin's retail value is around $400. If I am being conservative (and I will be in all cases) and your coin is Mint State, add at least another $100 to the value and more likely double it depending on the actual grade assigned. Lovely introduction for your first post with us. |
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Pillar of the Community
United States
7390 Posts |
Oh ya, I forgot to mention how good your photos are even being uncropped MortSalt. Well shot, clear & crisp pics make us happy!
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Rest in Peace
United States
4078 Posts |
MortSalt, This is a really nice coin to inherit . SsuperDdave posted a great education tool about about your coin. Thanks SsuperDdave for your time and effort. Edited by bpoc1
04/15/2015 4:51 pm
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New Member
United States
8 Posts |
SsuperDdave, thanks for the warm welcome and the abundance of information. My iPhone shots weren't very good, so I broke out the Canon Digital Elph.
Now that I know something about the coin, a few follow-up questions:
What can I do to maintain it in optimal condition?
I live in Manhattan. If I decide to sell the coin, what reputable dealers should I consider?
I'm not in urgent need of the cash. Am I right in thinking that a coin like this is a pretty good investment, likely to appreciate at a rate comparable to the stock market?
Continued thanks,
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Pillar of the Community
Canada
4911 Posts |
to answer your first question, the best thing to do would be to send it in for certification. this will preserve it and give you a grade which will help greatly when it is selling time.
Feel free to call me Will.
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Moderator
United States
23522 Posts |
Your best bet for preservation is a Mylar coin flip or cardboard 2x2. You have the advantage of gold being a stable metal which resists corrosion although the 10% copper alloy can allow it to become involved in a chemical process under the right circumstances. Is this your only coin worth holding, or do you intend/are you collecting? With economies of scale, other preservation containers would become appropriate.
Coins are not an investment vehicle. A sharp collector can ensure they won't lose money, but return follows no pattern whatsoever and is subject to the vagaries of changing precious metal prices, collector demand, the timing of the sale and the phase of the moon. I'm only half-kidding on the latter. This coin here is a good place to park money but it's unlikely to break very far loose from tracking gold price.
Liquidation would involve enlisting one of the reputable third-party graders (TPG's - we'll advise should this be your choice to do) to ensure authenticity and get it graded, as it will expose you to a far broader audience whose tolerance for raw coins is not that of an expert. There are any number of bespoke auction venues appropriate to your needs, sufficient that you need not worry about losing the wholesale/retail value a sale to a dealer would entail. Again, your specific plans and timing would have a bearing on the best possible answer.
I'm not trying to be evasive; it's just that the whole hobby is based upon subjective judgments and all factors have to be considered in the context of that moment in time.
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Pillar of the Community
United States
711 Posts |
Lots of storage options. I would use an air tite holder for one coin. This is the proper size. http://www.wizardcoinsupply.com/pro...le-22mm.htmlVery nice looking coin. $400 retail is about right. The Indians get a little premium over the Liberty Head. |
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Valued Member
United States
228 Posts |
Quote:
If I decide to sell the coin, what reputable dealers should I consider? Just thought I'd mention the option of ebay. I recently sold a similar coin RAW on ebay, although perhaps this would not be advisable in most circumstances. Here's the coin I sold, a 1908 $2.5 Indian:   The coin sold on ebay for $285, which I was happy to receive given the condition. (Note that mine is the $2.5 version and not the $5 like yours, which would be more valuable.) The buyer was also very pleased with the coin once received. All in all, a good transaction with both parties satisfied. In my case, I feared that money might be wasted on having the coin graded, as I worried about a possible "details" grade. I'm not sure that applies in your case, since your coin looks to be in excellent no-problem condition (although I'm just a beginner and not good at all at grading). As Dave mentioned (who isn't a beginner!) there might be an ex-jewelry issue, not that I can say I see it. (On second and third look at your coin, I do see a line between the "S" and "T" in "TRUST" for example, if that's what Dave had in mind.) In any event, welcome to the forum, and congrats on a very nice coin. I'm just beginning to learn about coins and my inherited collection with the help of the folks on CCF, but these Indians with the "incuse" design are probably my favorite of all so far. Edited by Phaedrus29
04/16/2015 12:54 am
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Pillar of the Community
United States
3546 Posts |
Quote:
gold...likely to appreciate at a rate comparable to the stock market? I tried to avoid cross talking by keeping my response to this question in the 'Precious Metals and Bullion - Gold, Silver, Copper, Platinum' forum: https://goccf.com/t/227071#1890206fyi, mdpmedia |
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New Member
United States
8 Posts |
Sorry, read the FAQ so I'd know how to quote replies, but I must be missing a detail, so in response to Dave:
<Is this your only coin worth holding, or do you intend/are you collecting? With economies of scale, other preservation containers would become appropriate.>
Unless the .55 cents in my pocket includes something rare, this is the full extent of my collection.
<Liquidation would involve enlisting one of the reputable third-party graders (TPG's - we'll advise should this be your choice to do) to ensure authenticity and get it graded, as it will expose you to a far broader audience whose tolerance for raw coins is not that of an expert. There are any number of bespoke auction venues appropriate to your needs, sufficient that you need not worry about losing the wholesale/retail value a sale to a dealer would entail. Again, your specific plans and timing would have a bearing on the best possible answer.>
I'm inclined to hold on to it, because I like gold as an investment, especially as part of a portfolio. I sold some gold in mid-2012, between the commodity's two peaks but still above $1,500/ounce, and I'm willing to hold it until gold is back up again -- even if that means my son sells the coin after I'm gone.
I ordered a couple of air-tite holders from Wizard Supply. If I'm holding the coin, should I still get it graded? In a scenario where I sell it, say, three years from now, I'd have to get it graded again, no?
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Moderator
United States
23522 Posts |
We don't like nested quotes, so we've made the process manual. In the Reply to Topic box - not the Quick Reply at the bottom, the one you bring up with the Reply link - is an icon to set up Quote tags and you have to copypasta into it. You'll only need to have this to a TPG once. It's borderline justifiable as a relatively common coin, but the investment will add the layer of authentication necessary to attract the more careful buyers and if the chance exists you won't be the one liquidating it, I'd recommend such a move. For just one coin, though, you'll want to try to piggyback onto a dealer's submission as PCGS and NGC require memberships (American Numismatic Association - ANA - members get free submission to NGC). These memberships will not be cost-effective for you. Many dealers, possibly in return for a small consideration, will include your coin with their own submissions. We would want to help research this with you because not all will, and we'd look for someone in your general area who might already know before we start you canvassing random dealers. |
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New Member
United States
8 Posts |
I'd be happy to have you help me research it, thanks.
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Pillar of the Community
United States
1450 Posts |
You know that is a beautiful coin. I would not sell that coin unless I needed an organ transplant. That is something to hold onto and to expand your collection of this beautiful coin IMO. To heck with price of gold.
If I could get that coin for a few hundred bucks I would consider myself lucky.
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Replies: 18 / Views: 3,657 |
Posted 04/15/2015 11:59 am
