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7070 Gold Page Questions

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Author Previous TopicReplies: 12 / Views: 1,170Next Topic  
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okie-colin's Avatar
United States
1083 Posts
 Posted 11/30/2008  7:36 pm Show Profile   Bookmark this topic Add okie-colin to your friends list Get a Link to this Message Number of Subscribers
OK now it is my turn to again be the novice. I want to begin completing the Gold Type Page in the 7070 album. So far I only have a Liberty Half Eagle. I have real trouble grading gold coins. I can't seem to tell much difference in wear, especially between an AU and a MS coin. There seems to be little correlation between wear on silver, nickel and copper type coins, and gold type coins. Is there any good grading guide for gold that I could pick up some pointers from? Also in terms of the market, is this a good time to begin to accumulate these coins? Due to the high cost I am also concerned about counterfeits. Should I just stick to slabbed coins or is there acceptable risk in buying raw coins? Although I could guess, which types will be the hardest or most expensive to find in decent shape, EF-45 or better. Any suggestions from my friends here would be appreciated.
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Bryan1315's Avatar
United States
14454 Posts
 Posted 11/30/2008  7:49 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I got lucky, I bought my 7070 album and the gold page when the spot prices were around 5-600 a ounce and it was still a little pricey getting some of the coins (but some of them were graded MS by NGC or PCGS) and some I got raw. There are series that are highly counterfeited but the ones that are copied most aren't on the page, like the $3 gold coin. If you buy from a trustworthy source raw is fine, but if you aren't sure about detecting counterfeits then slabbed would be your best bet
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Becky's Avatar
United States
954 Posts
 Posted 11/30/2008  8:07 pm  Show Profile   Bookmark this reply Add Becky to your friends list Get a Link to this Reply
Unless you know and trust the seller, buy slabbed coins.
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bmanofnbc's Avatar
United States
1424 Posts
 Posted 11/30/2008  8:23 pm  Show Profile   Bookmark this reply Add bmanofnbc to your friends list Get a Link to this Reply

Quote:
Unless you know and trust the seller, buy slabbed coins.


I disagree, if they can fake the coin then they can fake the slab....stick with coins you know and/or sellers you trust.

I decided not to add the gold page to my type set, instead I'm going to add a blank Large Cent page and use it for Colonial coppers.
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morgantype's Avatar
United States
164 Posts
 Posted 12/01/2008  12:39 am  Show Profile   Bookmark this reply Add morgantype to your friends list Get a Link to this Reply
I like the colonial copper idea. I wonder what the difference in price will be to fill that vs. the gold page. Pretty considerable I would think!
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Bryan1315's Avatar
United States
14454 Posts
 Posted 12/01/2008  01:37 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
yeah if you are getting no problem AU+ grades you can expect to spend allot more on the copper than the gold
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afernbaugh's Avatar
United States
263 Posts
 Posted 12/01/2008  07:46 am  Show Profile   Bookmark this reply Add afernbaugh to your friends list Get a Link to this Reply
I did not use the Dansco gold page in my collection because I wanted an example of a $3 coin and, as I remember, there was no slot. Of course I also wanted a Stella....but.....there was no slot in my bank account for that one.

Regards,

afernbaugh
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Bryan1315's Avatar
United States
14454 Posts
 Posted 12/01/2008  08:59 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply

Quote:
I wanted an example of a $3 coin and, as I remember, there was no slot

yeah it seems dansco did some research before they made the 7070 album and left out allot of the more expensive coins like that, I guess so someone could actually finish the album without going into bankruptcy
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okie-colin's Avatar
United States
1083 Posts
 Posted 12/01/2008  09:28 am  Show Profile   Bookmark this reply Add okie-colin to your friends list Get a Link to this Reply
Very interesting. Does anyone out there have any ideas on my grading question?
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Jaobler's Avatar
United States
6384 Posts
 Posted 12/01/2008  11:34 am  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
Hi Okie,
The AU vs. BU question is always tough, although I don't think it's really much different for gold than for silver. You are looking for the slight friction that is the first sign of wear. It should show up as a dull or maybe just "different" appearance on the design high points. On the Liberty gold pieces these areas are Ms. Liberty's cheek, the upper edge of the coronet, the edge of the bust, and the hair bun. If when you examine the coin carefully under a good light you see a color difference in these areas you are probably looking at an AU coin.

Another technique is to look for luster differences between the open fields and the spaces between letters and stars. If the coin has been lightly circulated the fields will have slight to moderate loss of luster. The protected areas next to and between the stars and letters however will still be fully lustrous. If you see this effect it's a sure bet that the coin is not uncirculated.

It is useful to examine some slabbed gold pieces graded AU-55 or AU-58, prefereably in PCGS, NGC, or ANACS holders. You should be able to spot the luster changes and dulling of color on the high points. Compare those coins to examples graded MS-62 or MS-63 and you should start getting a feel for the differences.

It's just my opinion, but I would recommend that you do purchase slabbed coins for your set. Often the slabbed examples cost very nearly the same as similar raw examples and the slab gives you both a grade opinion and some measure of confidence that the coin is genuine. You can crack the coins out to put in your album and save the inserts along with your purchase receipts. Those inserts will come in handy if and when you want to put the coins back on the market.

I hope you post the gold when you add to the collection!
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okie-colin's Avatar
United States
1083 Posts
 Posted 12/01/2008  12:21 pm  Show Profile   Bookmark this reply Add okie-colin to your friends list Get a Link to this Reply
Thanks so much Jaobler. That is exactly what I needed to know. I will post individual examples as I acquire them, but will be going slowly of necessity. At least I have ordered the Dansco gold page and I have one coin to put in it.
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johnny54321's Avatar
United States
4849 Posts
 Posted 01/13/2009  7:31 pm  Show Profile   Bookmark this reply Add johnny54321 to your friends list Get a Link to this Reply

Quote:
Quote:
I wanted an example of a $3 coin and, as I remember, there was no slot

yeah it seems dansco did some research before they made the 7070 album and left out allot of the more expensive coins like that, I guess so someone could actually finish the album without going into bankruptcy


I think that Dansco should make some additional gold pages for those who want to take the type set further. I have considered purchasing an additional "gold" page, and relabel it. Several additional pieces could be, gold dallar type 2(this could fit in the type 3 slot); classic head quarter eagle(could fit in the quarter eagle indian slot). The classic head $5 piece and the $3 princess could both fit in the $5 slots. The rest could be filled with a blank insert. The only one I have out of this group is the classic head quarter eagle, but what do you guys think?
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johnny54321's Avatar
United States
4849 Posts
 Posted 01/14/2009  11:39 am  Show Profile   Bookmark this reply Add johnny54321 to your friends list Get a Link to this Reply

Quote:
OK now it is my turn to again be the novice. I want to begin completing the Gold Type Page in the 7070 album. So far I only have a Liberty Half Eagle. I have real trouble grading gold coins. I can't seem to tell much difference in wear, especially between an AU and a MS coin. There seems to be little correlation between wear on silver, nickel and copper type coins, and gold type coins. Is there any good grading guide for gold that I could pick up some pointers from? Also in terms of the market, is this a good time to begin to accumulate these coins? Due to the high cost I am also concerned about counterfeits. Should I just stick to slabbed coins or is there acceptable risk in buying raw coins? Although I could guess, which types will be the hardest or most expensive to find in decent shape, EF-45 or better. Any suggestions from my friends here would be appreciated.



I agree that gold can be tough to grade. The most difficult in my opinon are the indian quarter eagle and half eagle coins. The wear patterns are different from everything else due to the incuse design. If you are looking for specific grade range, I would recommend purchasing these slabbed.
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