Posted 02/02/2008 6:55 pm
Well, the first hint should be when a coin that's worth $18,000 in MS65 goes for $750.....
Yes, you got ripped off. On the bright side, though, you got what looks like a high-AU coin at worst, so chances are you paid less than twice what you should have. I know this won't make you feel better, but that's a lot smaller loss than some who have posted here in your position have suffered....
The seller, to his credit, posted pics of sufficient quality for a knowledgeable buyer to form proper conclusions about grade. So, the takeaway from this lesson is to know the coin before you buy the coin.
I believe this coin would slab at AU55-58 from a reputable grader. It's gold, and it's going to appreciate over time. So, keep it for a period of years both as a reminder to do due diligence in the future, and to wait for prices to come to you. I think they eventually will, and you won't end up getting killed on it.
Yes, you got ripped off. On the bright side, though, you got what looks like a high-AU coin at worst, so chances are you paid less than twice what you should have. I know this won't make you feel better, but that's a lot smaller loss than some who have posted here in your position have suffered....
The seller, to his credit, posted pics of sufficient quality for a knowledgeable buyer to form proper conclusions about grade. So, the takeaway from this lesson is to know the coin before you buy the coin.
I believe this coin would slab at AU55-58 from a reputable grader. It's gold, and it's going to appreciate over time. So, keep it for a period of years both as a reminder to do due diligence in the future, and to wait for prices to come to you. I think they eventually will, and you won't end up getting killed on it.
