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 Replies: 10 / Views: 1,961 |
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New Member
United States
4 Posts |
I purchased a bunch of Gold proof coins in the 1980's, before the more detailed grading system that you have these days. Does this mean that the proof coins that I purchased can actually be varying degrees of "proof". Or in the Coin World, proof is proof, and you do not have to look at the coin closely for any perceived imperfections? Sorry if this is a stupid question. Since gold is so high, I thought this is a good time to sell these coins. I haven't even seen them in 20 years, since I left them in my parents house since I moved from NY to CA and now to NC. Just figuring now is a good time to try and get the money back that I paid for them, but not sure how to advertise them on ebay. For example - do I have to go to a professional grading company and get them graded even though I purchased them as Proof coins? If I have to get them graded, how much do you think it would cost for this certification? Thanks in advance for your help/comments. |
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Valued Member
United States
130 Posts |
$99.00 buys you a membership with NGC. This also comes with 5 gradings. Not sure about PCGS or ANACS.
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Pillar of the Community
United States
2797 Posts |
Ammo, Yes there are variations in the "quality" of proof coins. The differences are virtually impossible for the untrained eye to detect. Since you picked these up in the 80's I would guess they were modern commemoratives/eagles. The only real price jump is between PF69 and PF70 and the only grader that carries the clout to command the increases in price is PCGS. Chances of getting them to grade one of your pieces PF70 would be comparable to winning the lottery ... it happens, but not often and always to someone else.  My recommendation would be to take quality pictures and let the buyer decide. You will probably only achieve a slight premium over melt value. |
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Pillar of the Community
United States
2049 Posts |
PCGS would require you to either join one of their collector clubs ($49.95 annual fee minimum) and then for gold I believe you have to use the regular service for $30, as long as the coin is worth $3K or less. http://www.pcgs.com/grading_list.chtml |
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New Member
 United States
4 Posts |
Thank you all for the swift information. Now to figure out how to take a quality picture, lol. Will go to another forum on that one  Yeah, what I dislike about these coins is that you need to know what all the Roman Numerals are to figure out the date. How dumb was that?! Well, I guess they had to find a way to make them more interesting? Ok, so I gather from the small amount of research I have done on this site is that as long as there are no major marks (and there shouldn't be since these are proof coins), I should get at least a "medium" proof grade? But like you said, let the buyer decide.... Now to go back to NY and retrieve my stash! My Dad found them in the attic and inferred that they belonged to someone else. Meanwhile, I was the only person avidly collecting coins in the family back then. I found the most fun of collecting was getting together with my buddies and haggling over trades. Now it is so difficult with all the grading conflicts....takes a bit away from the fun. And what to do with my old miniscule collection? Maybe just give them to charity? Hmm, how about a charity sale..  P.S. Just love the Smile Icons on this forum.... |
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Bedrock of the Community
United States
12437 Posts |
 One thing to remember is "proof" is not a condition, it is a minting process. Dies used to make proof coins are polished in the fields and frosted on the devices, imparting those features to the coins they strike. The metal used for the coins(called planchets) is polished as well and the coins are struck at least twice with higher than normal pressure. If you purchased your gold proofs directly from the Mint(or they are still in their plastic lens) and they have not been handled, they should have relatively high grades, PF65-67 or higher. For these coins, it would probably not be worth the cost of getting them graded as it doesn't really add much value. As long as you have the original government packaging(OGP) they should be fine. If you are an established ebay seller, you should not have a problem selling them. However, if you are new to ebay, you might have issues selling and getting full value for a $1000+ coin(assuming 1oz Eagle). |
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New Member
United States
4 Posts |
Aha! I did not know that. I always thought Proof was "higher than UNC".
Ok, that makes sense the way you describe it. I do happen to have one of those coins with me, and noticed a small scratch or two on it even though it is a proof coin (in the original govt package). It bothered me that though I ordered a proof coin, that it still had marks on it....
All this talk about coins has me wanting to view my old collection again - as crappy as it is, lol. I am trying to remember if I had any "key" dates, etc. And I'm just itching to get my hands on those proof gold coins to see just how many scratches each one has.
Thanks again!
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Valued Member
United States
328 Posts |
It costs around $20 dollars for a coin certification from a good TPG, but it takes forever times infinity to get back to you. Or, you can pay over $100 and get it back in less than a week. It depends on the coin itself and the shipping time. PCGS it the costliest, but they (IMO) are the best TPG, and their slabs look awesome.  As for proof status... a proof coin could be sawed in half and would still be proof. Proof is a method of manufacture, not a grade. They do get their own designation, however (PF68 instead or MS68, etc.). Proof coins can even have wear, and be designated as 'Proof' (example: AU53 PROOF), or can be talked about as PF58, AP58, XFP40, etc. The method in which Proof coins are made involves polishing the dies and planchets many times and striking the coin many times. |
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Moderator
 United States
23522 Posts |
Welcome to Coin Community, Ammo1231. Just for the record, what gold proofs do you hold? The assumption is being made here that they're Modern issues, having been minted in the 1980's. If by chance they are Classics (pre-1933), then everything changes.
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New Member
United States
4 Posts |
Sadly enough, they are the "modern" ones. Darn, I wish I could remember the dates, etc. I did have some older ones, an Indian Head one (i think $5) and a couple of Barber head ones. Yet those are not in any especially great condition. I think I actually put one of those Barber $5 pieces on a chain to wear around my neck. Well, it's not like I drilled a hole in it, but wearing it out in the open can only add more wear and tear to an already imperfect coin. Right?
You know, I think I might have bought a three dollar gold piece just for fun. Probably one that is a very common date.
Well, I don't trust my parents to ship anything to me (because they are getting a bit "feeble-minded" shall we say). So it won't for a few month before I can get back to NY.
I suppose there is a space on this forum to sell/buy coins too?
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Bedrock of the Community
United States
12437 Posts |
Hehe, even a common $3 gold piece is still a high dollar coin  There is a B/S/T forum here, you just need 50 posts to participate. The owners of the forum, Bobby and Susan, also sell coins on consignment and I believe that they have over 30,000 transactions on ebay so they are very reputable as well. Also, if it helps, the Gold Eagles that have roman numerals were issued from 1986-1991. After that, it was a normal number date. |
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Replies: 10 / Views: 1,961 |
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Posted 03/04/2008 08:20 am
