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 Replies: 11 / Views: 1,061 |
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Pillar of the Community
United States
880 Posts |
So tomorrow morning I'm going to pick up a gold coin (my dad needed money). He has two of the same year - a common date coin. I'm getting a good deal regardless, but he doesn't care which one I take.
Is there anything different on gold to look for? I'm assuming there wont be as many bag marks or scratches, but if there are I'll take the other of course. These coins are in at least AU if not BU. They have a ton of luster left on both of them (going from memory here). So what else can I look for?
If it helps - the coin is an 1881 $5 Liberty. I'll post pictures tomorrow of the one I get.
Edited: thanks to Jaobler. Changed Indian to Liberty Edited by lukkyseven
02/14/2011 4:12 pm
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Pillar of the Community
United States
2797 Posts |
There is an 1881/0 overdate variety that triples the value in MS60. Remnants of the '0' can be seen just to the right of the '1'. Other than that do the grading yourself and compare: First impression; presence and locations of marks/wear; strength of strike; be sure to check the rim for presence of damage due to mounting in a bezel. Good luck.
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Pillar of the Community
 United States
880 Posts |
Yea I saw the 1881/0 variety and if I saw that then I'd have to take the other. I couldn't take something like that from my father knowingly. He told me to take the best struck one, so I'm okay taking an MS63 vs an AU55 or something like that.
Is there any particular spot that a bag mark would really devalue the coin? I'm guessing spots like the eagles face/body on the reverse, or on the face of the obverse?
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Pillar of the Community
United States
2797 Posts |
I would recommend going with your first impression and ignore the minor stuff. If it's large enough to affect your first impression, then it's important.
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Pillar of the Community
United States
6384 Posts |
Marks on the "prime focal areas" are more detrimental to numerical grade and value. On this Liberty gold piece (the 1881 is not an Indian piece which were not made until 1908) the prime areas are the cheek of Miss Liberty, the field in front of her face, and the date area. Any heavy mark in obverse or reverse fields tend to be very noticeable and are undesirable. Also, dents or cuts in the rims are bad and should be avoided if possible.
For circulated 1881 half eagles there is little value difference between say an EF-45 and an AU-55. If both are circulated go for the one with the better overall eye appeal. Of course, if one is really MS-63 take that one! That would bring it's value up to maybe $800, compared to $400 or so for a nice problem-free AU.
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Pillar of the Community
United States
880 Posts |
Seated you make a good point.
Jaobler, thank you very much. I will also pay attention to rim details.
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Bedrock of the Community
United States
14454 Posts |
that is exactly what I do when grading a coin, I go with my first impression and its usually pretty close. I have second guessed myself a time or two and it has ended up biting me in the rear
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Pillar of the Community
United States
880 Posts |
Since this coin is such a common date, is it's value directly linked to the spot price of gold?
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Pillar of the Community
United States
1691 Posts |
if your coin is AU/BU range it's worth at least $400...that's a premium over the melt price of $325(based on $1350/oz.) these coins have about 1/4 oz. of gold....GOOD LUCK!  Edited by atlashealth
02/14/2011 6:26 pm
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Rest in Peace
United States
9104 Posts |
MOST old US gold is common, because they're rarely collected by date. As spot goes up, some scarcer issues are becoming common.
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Pillar of the Community
United States
880 Posts |
I promise pictures tomorrow. I'm excited to own/purchase my first US gold coin. Not a bad start at the age of 25 ;)
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Bedrock of the Community
United States
10982 Posts |
Be certain to check the reverse for a mintmark also. A "CC" below the eagle adds a lot of value!
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Replies: 11 / Views: 1,061 |
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Posted 02/14/2011 3:48 pm
