Hello! I'm looking for some tidbits of information from the gold experts out there. I primarily collect Indian Head Cents but have become interested in No Motto Liberty Half Eagles. I've been looking to start purchasing some gold but didn't really know how to go about it. What draws me to this specific series is how undervalued many of the coins are. They have incredible historic value and most are quite scare. I've been looking into many of the Philadelphia dates in choice AU and don't really know what I should be looking for. What makes for "good color"? I think I can identify BAD color but beyond that my experience is limited. What makes for a truly choice AU coin? These coins are really few and far between in AU with only 2-5 examples available at any given time. The dates I've been looking at are 1845, 1846, 1848, 1849, 1850, 1851, 1854, 1855, 1857, and 1858. Here's an AU55 coin. Good, bad, average? I see a lot of marks but a very nice strike with AU58 wear. Teach me your ways!
No expert here, but when you are collecting Au gold coins the amount of remaining luster is key, and you cannot estimate that readily from static photos. Also, many of these coins have been dipped and stripped in an effort to make them more attractive to graders/collectors, and that can also be hard to judge from photos. Before spending money I would read posts by "Boosibri" on the PCGS forum,and visit Doug Winter's site and read his blogs and study his inventory. Unless you are buying from someone like Winter, you have a high risk of purchasing a problem coin or low end coin from photos alone. As to the coin posted above, I have no opinion as I can't get an idea of how much luster is remaining.
To me, the posted coin looks processed and unnaturally bright. The TPGs probably straight-graded it, but a true connoisseur of these does not prefer that look.
What "look" is generally desired? Do you have an example image that might help showcase what you mean (as best as a picture can of course)? Interesting note on luster ksparrow. I hadn't thought much about luster and I think it's extremely relevant to high AU grades (55-58) however, I would guess it's not quite as important in lower AU grades such as 50-53. My thought is if an above average AU53 coin has above average luster then it's probably in an AU55 holder. If that's true then it definitely complicates the search for high end examples for a given grade.
I agree and that is why I think unless you really know your stuff, buy from a highly respected dealer like Winter, and this is an instance where CAC review can be very helpful. WRT the coin imaged above, photos can intensify or obscure marks; luster breaks can look like scratches and vice-versa. I infer from the photo that there is considerable field friction, leading me to think that the 55 grade is generous, but in reality I just can't tell about that or the extent of the marks. And let's not even get into "grade creep" and market grading...
I went against my better judgement (or maybe not) and picked up a raw Liberty Half Eagle for what I believe is a really good price. It's probably the most common date with the motto but I'm also interested in adding more gold to the safe when the price is right. This is somewhat tangential to my original question which was related to AU coins for the more uncommon dates however I'm curious what everyone's opinion is regarding this coin. Thanks again for all your help, it's very cool to get new insight into a realm I'm not 100% familiar with!
Nice looking piece. Color is nice, luster looks pretty good. The heavy mark under the chin is a negative, but overall a nice coin. I would grade it ms62 or so.
Sounds like you have the same exact thoughts as I did. If I graded it I would give it a 62+. Has a 63-64 "look" with 62 marks. I picked it up at an AU55 price though
For those who are curious, I sent in the half liberty to PCGS with a submission and it came back MS64!
