I've never actually bought anything before that is plated. I realize there are sellers out there trying to scam people and I've seen some pretty ridiculous prices on essentially base metals with silver or gold plating on them. I also realize the plating itself is very thin and can't really be counted as bullion as it would cost more to reclaim the gold/silver than it would be worth. Hence the reason I've never bought any. Having said that... I'm somewhat curious to buy a plated coin just to say I have one. I've seen some quarters, half dollars, and other coins on ebay go for a dollar or so more than their face value due to the gold plating. So I'm just curious if there are any coins I could buy that are plated in which I could expect those coins to retain the value at which I bought them. For example if I pay $2.00 for a half-dollar that is gold plated, should I expect to be able to sell that half dollar again in the future for at least $2.00? I guess what I'm asking is how much is an appropriate mark-up for buying a plated coin?
Imo, the appropriate mark-up is $0. If you can run across one for face value or even find one in change (I think I've found a few) that would be best. But if you really want one, why worry about it not keeping its resale if it's only worth a dollar or two. If you're interested in plated coins, I think you might want to look into the old Racketeering nickels. http://www.coinsite.com/content/faq/RacketeerNickel.asp They're probably the only plated coins I would ever want.
A plated coin is an altered coin and therefore worth less than one that is not plated. IMO put your money into something else if you want any chance of appreciation in value. If you just want a plated coin then by all means go for it the same as anything else that's for sale in this world. The value of the milligrams of the electroplated precious gold layer is so thin it is usually only a few cents worth even though it makes these items look solid gold.
Numismatically speaking, they carry no premium. However, in the real world, plated coins are a "cash cow" at flea markets. I bought a bunch of Kennedy's and Ikes that were gold plated... sold every one at a single flea market (for double what I paid for them.. in the $5 range). So despite what some may say, they do carry a premium when sold through this medium.
Plating destroys coins. Every time I see a nice '83 No Cents plated with gold, it hurts me a little on the inside.
When it's Platinum... D'oh!!! http://noblemetals.blogspot.com/2010/10/uk-1876-counterfeit-gold-coins.html
Never. And if anything, you should pay less for a plated coin than one that's not plated, if you even buy it at all.
In contrast to the above post, I buy nearly EVERY gold plated IKE I come across and I usually pay what the dealer or seller is asking which is usually around $4. I have a problem you see in that....................I like em. One of these days, I'll happen across some important variety of IKE and then I won;t be angry, I'll be grinnin!
As a collector, I buy stuff not with en eye toward how much it will be worth down the road (others will worry about that after I'm gone) but on whether I (A) Like it or (B) need it for my collection. When my local flea market dealer (yep, I trust him) showed me a gold plated Kennedy half, I snagged it up to add to my Kennedy set. He sold it to me for face value, but I would have gladly paid a couple bucks. I also added a campaign button to the set. I would love to add a gold plated Ike to that set as well, but have yet to come across one. Bottom line, collect what you want. If you're looking for investment advice, these are not the items in which to put your money.
That may have answered the question. I do like to "collect" but I never buy any coin that I'm not prepared to fill at least an entire tube with copies of it. So if I buy 1 gold-plated half dollar then I need to be prepared to buy 19 more of them. My reasoning is that it will be easier to sell off my collection in the future if I have many of the same item. I don't want to be stuck with a box full of one-off miscellaneous coins. So far everything I've bought has been strictly for bullion value but I realize some things carry an inherent premium even though they have no precious metal. A proof coin is an example. Incidentally I never buy proof coins and I do not own a single one of them for that reason. I just wasn't sure about the plated coins. It seems many here have a dislike for them. Yet, I see plenty of people buying them on eBay. So obviously a market exists.
only plated coins I own are a bunch of 1972 democratic national convention coins (they are made from the bumpers of old dodge bumpers hehe http://www.cointalk.com/t214286/
The only plated coins likely to retain their value are coins that were ISSUED by their mint that way. Say a 1995 DDO copper PLATED zinc cent, or I believe a Canadian 1999 P (for plated) coin, (The 1999's were actually test pieces and were not supposed to be released into circulation but some did get out. I think I have the date right.)
