Paying over melt for cleaned pre-1933 U.S. gold coins?

Good coin to not-slab and be able to hold in your hands and have other touch, too.

 

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LOL I believe if you could find the 1889-CC Double Eagle in a certified "cleaned" state, it would cost you multiples of the melt value.

This is a coin/state for which I've searched many years/decades in all prominent venues. I was able to acquire one in mint state, two in "cleaned" state, but they definitely appear to command a "premium", with interest by many.

JMHO

 

I have started a nice "details" set of quarter eagles. All of them are AU/UNC quality. I've been paying a bit over melt for them. Yes, they've been cleaned but are fine examples and getting them at rock bottom prices for an album is the best solution in my book. They show well and do retain some value.

I won't pay any premium for tooled/altered, or removed from jewelry mounts if the damage is obvious, but I would buy them for melt.

 

Do you guys think any of these are better than the original coin I posted? These would be 8% over melt as opposed to 6% for that one.

 

So a follow-up question:

How much money am I throwing away if I buy one of these?

I.e., if I ever go to sell it, assuming the price of gold is exactly the same as it is today, how much will I lose?

Will I at least be able to sell it for melt?

 

The 1922 is OK, the other coins are too much circulated and/or cleaned.

 

Aside from the bid-ask spread, I think you are buying just under 1 oz. of gold. Don't worry about being able to sell it in the future.

 

If you purchase the 1922, I'd be an immediate buyer at greater than melt.

 

Melt is $1185, so $1280 ea.?

 

Yup. Not much spread b/t AU-BU.

 

I would pay 3% over melt.

 

Let the bidding begin by PM, as I'd pay a greater amount. LOL

 

Gold was a bit higher when he quoted me $1300/ea for the 8% over melt.

 

A good investment if gold goes up. Not so much if not I'd rather save my money for a better coin

 

I know. I was just answering the original question. I'd be happy as heck to find any pre-33 gold that was only a little over melt. FYI,,, I am envious of the CC Liberty's you mentioned. That is the holy grail for me as I am going to try to collect any pre-33 gold that ends in "89". If I remember right there are only 9 pre-33 coins that end in 89 with the $20 Liberty's accounting for 3 of them. I know that is going to be very hard to do but it's something to shoot for. I might have a shot if I get a well paying job after I'm done with school.

 

I appreciate your astute observations of a Gold coin that is seldom offered in auctions. A coin having a mintage 10% of that
which was produced in original mintage of its Morgan counterpart. A coin that has enjoyed a published value ~one-third of the Morgan, for a coin relatively seldom seen/offered for sale. A coin which has doubled in value while the Morgan has increased ~one-third.

This coin is virtually never offered in a TPG certified details condition, with no record of same Found in eBay archives, and one in Heritage. The irony is that there currently is a recent auction listing in Heritage auctions. That coin already has a premium gross amount bid in excess of double the melt value with a considerable amount of "live auction time" remaining. I expect the bidding by educated worldly buyers of this scarce coin will result in a final hammer price of 300-400% melt value.

When I started searching for this coin, I couldn't afford the coin either, but knew that offerings would be infrequent, probably unavailable when funds might be available. I virtually mortgaged my all for the first coin.

Hopefully I'm "still around" when you graduate, and may have serious interest. I like your positive attitude, and will provide constructive guidance for a comparable selection to meet your stated criteria. The coin is believed to be of your objective recognition, that I'll guarantee with a bonded repurchase plan if you PM.

JMHO

 

As an example, I'd pay a prem for an 1880s otherwise MS65 cleaned or rim damaged coin.

 

I think it may grade cleanly AU55. Some high point wear at pedestal and scratches *might* be adjustments or similar, as they only seem to appear in fields.

 

Semi thread hijack here, but certainly related to the topic at hand. Got this in, and it looks "cleaned" but really might be pocket or coin purse wear. Looks VF20 to me. VF25, if I had a nice happy breakfast and no traffic to the office. (I also realize strict ANA grade definition would say F12/15 due to weak LIBERTY, but I think other wear may point to weak struck.)

 

I'm sorry, but isn't the idea of buying common gold coins for bullion based on the premise that because it's in a coin format you know what you have? If you want to pay only melt, why buy coins, buy gold bullion bars, no? It seems like the coin is worth a little bit of premium because it's in a recognizable format - doesn't require checking for weight, etc. (not that you wouldn't want to check anyway - I suppose).