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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
 Posted - 04/13/2010 : 08:40:13
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Hi everyone,
My friend has just come into the possession of a number of early 19 and 20th century US gold coins. He said that they look uncirculated. Anyways I don't know much about gold coins but i'm the resident expert when it comes to coins in our group. I showed him the base gold values of the early US coins (e.g. $20, $10 etc.).
But when it comes to buying/selling these coins, is there a premium for quality of the coin or is the value of gold holding bullion above any possible grade the coin may hold?
I don't want my friend getting ripped off, and I certainly don't want to give them bad advice.
Any thoughts from gold buyers/sellers would be wonderful.
~JobIII
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Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 04/13/2010 : 08:56:52
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These vintage GOLD coins carry a significant premium for their numismatic value. Of course, their value depends on their condition and their scarcity due to low mintage. Handle these coins carefully, holding them only on the edges - put them in 2x2s ASAP.
Check out the website below for specific dates and conditions. Condition is important to determine the GOLD coins' value. Get an expert grader to have a look at these, or if you can, register them by sending them to a reputable grading service to be slabbed.
You must be logged in to see this link. |
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 04/13/2010 09:07:12 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 04/13/2010 : 09:58:54
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the value of these coins goes up exponentially with grade, because there are increasingly fewer hi-grade coins remaining.
if you go to pcgs.com you can get an estimate of the number of coins available in each grade. they refer to it as the 'population.' of course, they are referring only to coins of that grade which they have graded, but its a reasonable estimate for the entire coin population on a percentage basis anyway. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 04/13/2010 : 10:06:05
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People unfamiliar with coin collecting who come upon an old collection will occasionally decide that they will clean the coins before trying to sell them. Please warn your friend against cleaning the coins in any manner.
Besides that, I would have your friend send the coins off to a well known third party grading service, such as PCGS, NGC, or ANACS. PCGS seems to be the leader. Your friend will either have to become a member or contract with a member of PCGS to have the coins graded for him. After he receives the coins back from the grading service, he can then look up the values online and then finally sell them at a fair market price.
If he just wants to get cash, then sell some of the coins here. I'll be a bidder. I'm starting to really like the pre-1933 US Gold. |
goto the new and improved realcent: http://realcent.org |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 04/13/2010 : 10:18:39
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| Same here. They MUST be graded and authenticated. |
Come to the new and improved realcent: http://realcent.org
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barrytrot
Administrator
USA
721 Posts |
Posted - 04/13/2010 : 10:48:59
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Grading isn't super cheap ($20/each for these type coins from PCGS + insurance/shipping both ways, around $28/each probably) though and is rather a pain in the butt. I wouldn't recommend a "non collector" to do it him/herself. The turnaround time is also around a month.
Just put them into a semi-safe container where they aren't rubbing each-other and then find a collector that is friendly!
If you have a knowledgeable person he/she can get fair value without having to grade the coins. Raw coins in the right hands go for just as much as certified. |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 04/13/2010 : 11:02:43
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quote:
Originally posted by barrytrot
Grading isn't super cheap ($20/each for these type coins from PCGS + insurance/shipping both ways, around $28/each probably) though and is rather a pain in the butt. I wouldn't recommend a "non collector" to do it him/herself. The turnaround time is also around a month.
Just put them into a semi-safe container where they aren't rubbing each-other and then find a collector that is friendly!
If you have a knowledgeable person he/she can get fair value without having to grade the coins. Raw coins in the right hands go for just as much as certified.
Ditto...
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 04/13/2010 : 11:06:48
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I haven't seen them, but i just gave him the print out from coinflation. So i'm going to forward him to the other sites mentioned above.
He described them as looking brand new. These coins probably haven't seen the light of day for some time. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 04/13/2010 : 12:01:42
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| Let me back up what I said a little better. I understand the grading and authentication can be costly. I'm also keenly aware of the profuse counterfeiting in recent years. I just don't want buyer and seller alike to be burnt by something neither was aware of, you know what I mean? |
Come to the new and improved realcent: http://realcent.org
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 04/13/2010 : 14:48:48
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| I think with the link to the numismedia.com, my friend will be able to fair well enough. I am interested to learn what the coins are that he has. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 04/14/2010 : 08:42:16
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The easiest way to value what he has would be to send it to APMEX with an offer to sell, then see what their offer would be and add perhaps twenty percent to the price if he wanted to attempt to ebay them or sell otherwise. APMEX always seems to have a fairly good buy/sell price on a wide range of raw grades of coins. Even if he didn't accept the bid, they might offer a clue as to the grade and authenticity of the coins without the expense of TPGS. This link shows ongoing sell prices for gold coins on ebay:
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Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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cesario
Penny Pincher Member
129 Posts |
Posted - 04/14/2010 : 16:21:20
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| Send them to the Pawn Stars. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 04/14/2010 : 16:43:23
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| I guess these coins are going to stay in their family afterall so no sales or disclosure on what coins they had. It would have been nice to see them. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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p00dub
New Member
6 Posts |
Posted - 04/18/2010 : 20:38:28
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| man - must be nice to find pile of Gold... |
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Nickelless
Administrator
USA
5580 Posts |
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A friend found a pile of Gold Coins
Forum Locked
