Hello, Im not all that familiar with gold coins. I dont own any and have never really followed their prices. So, I figured my best bet was to consult the helpful members of cointalk. I have someone thats willing to trade some of my coins for their 1914 Quarter Eagle. Its graded by National Numismatic Certification as MS62, and they are willing to trade for $350 worth of my coins. Im not familiar with NNC, but feel that its better than buying a raw coin, especially not knowing much about gold coins. Anyhow, Ive been following the prices on ebay for a few days now, and Ive been seeing prices of around $400. But then I saw this one end at $170. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=140189582654&ssPageName=STRK:MEWA:IT&ih=004 Anyhow, why did this one go for so much less??? Was it just a fluke, did I miss my chance to buy one way under what its worth??? Or if Im patient, do you think Ill see another one go for that low of a price??? Or is it my better bet to trade with the guy who wants $350 worth of my coins??? Thank you for looking, and thanks for any help.
okay, here's the story: NNC is junk, it may be unc, it may be AU, it may even be fake. Who knows. It is like opening a gift on Christmas: Will it be a rare coin? Or just underwear?
Alright, thanks. Thats something I was wondering. Ive never heard of NNC, but I was figuring that the coin would atleast be authentic. Anyhow, if Im looking for one from one of the top grading services, whats a good price to pay??? Well, whats the gold content in a quarter eagle worth anyhow, and I can take it from there based grade and how bad I want it.
I assumed when you said "quarter eagle", you meant Indian since you mentioned 1914. I recommend going to a good dealer or a coin show with a loupe and a lot of questions. Look at dozens of 'em. Or hundreds. Just walk right up to every dealer and say I "I want to look at ALL of 'em". Don't be afraid to look at pieces you know you can't afford. It's just another way to appreciate the series, and become educated. Dealers appreciate a knowledgeable buyer and are quick to help. And don't be impressed with the "Mint State Mystique". In this series, you're quite likely to find a very eye-appealing piece in AU58 for around $200 or so. It's difficult to tell a good AU58 from an MS61. The TOP graders are inconsistent right here - this series, this grade range. Get a book. There are several. I like "A Collector's Guide to Indian Head Quarter Eagles" (Fuljenz / Winter). You'll learn which years are known for poor strikes (notably 1908, first year). GOOD LUCK ! This is a great series. Enjoy !
Ah Dan. I was wondering when you would get bit by the gold bug! The quarter eagle Indians are kind of pricy compared to some of the other pre 1933 gold coins. My local dealer has one with a nice story that I have had my eye on for about a year. It is a 1913 Indian graded MS-62 by PCGS. He wants $700 firm. The trends prices have actually dropped lately for this particular coin. Right now the price should be around $620 for a MS-62 Indian 1913. Anyway this coin was in a NGC holder graded MS-63. The dealer cracked it out and submitted to PCGS. It came back MS-62. Here's the rest of this entangled story: It seems an old man died leaving a nice hoard of gold. However there was a dispute about ownership because the coins were never paid for. The widow sent all the coins back to wherever they came from instead of paying the invoice. Well the stupid company sent them back to her. Then they kept billing. She just put the coins away and ignored the bills. Anyway this eventually came to a lawsuit in court. The judge ruled that the coins were hers. Because the company sent them back she became the owner and she did not have to pay a penny. Lawsuit dismissed. Now enters the family. The son and daughter takes the whole hoard to a dealer. There were both NGC and PCGS coins. Dealer cracks all coins out and whatever was PCGS he sends to NGC. Whatever coins were NGC he sends to PCGS. Hence this 1913 leftover described above. When gold was around $575 an ounce he wanted $700 for the coin. Everytime I go back it is still $700. I went back just to check when gold hit over $800 and he still wants $700. Someday I may grab that coin.
Wow, thats quite the story. Coins with history, I like that. I realise they all have some sort of history, but its usually unknown. But why would he crack all the coins out of their slabs and resubmit them??? Thats kind of odd, and seems like it would cost alot of extra money that he didnt need to spend. Anyhow, yes Ive had an itch to buy some gold for a while now. And my plan has been to start with a Quarter Eagle Indian. Date and Grade dont really matter to me, but of course I would prefer better quality for cheaper money. Who wouldnt. But lower grade MS or even Au coins might be the best bet for me. I actually went out and bought a Capitol Plastics holder for a type set of US gold coins. Id like to fill that someday, and Im figuring that Im 24 years old, so I have plenty of time to accomplish that goal. Id like to buy slabbed coins as to insure that I dont buy counterfeit. But as far as putting the coins in the capitol plastics holder, that might not happen either, Ive never been able to bring myself to crack a coin out of its slab. Well, I still have some research todo before I go out and buy I guess. Thanks for the help everyone.
Because he's hoping some will bump up a point, thus moving up in "value". My guess is he was NOT impressed with the results.
i just picked up a nice one for about 500 or so. man was i happy personally i dont like to collect anything under a 62 and teh higher the better
Buy the coin, not the slab... particularly with these things. The TPG grading is all over the map. I've seen 64s that I would have called 62-. I have seen 62s get resubmitted and come back as AU58. I have seen major "top" TPG Indian $2.5s come back as cleaned.
It is the dealers who do insane things like this that make me wonder how they pay the bills! There is no coherent logic in that line of thinking, I just don't get it!:headbang::desk: Please someone enlighten me, what am I missing?!?
If you are talking about the generic dates (all but the 11-d in grades below 65) then you should contact one of the market makers in generic gold. No one else will be as close in their buy-sell spread. The main ones are Heritage, National Gold Exchange, and Spectrum. There are others, but none of them work on as narrow a margin as the big three (you will pay more with the smaller ones).
Easy, people love to gamble They find it easier to believe in 2 in the bush than they do 1 in the hand. Of course it doesn't hurt that they can't grade themselves, let alone determine what TPG might do.
So you say to check out Heritage, National Gold Exchange, and Spectrum. Alright, thanks for the tip, Ill have to check them out. Thank You
why not just talk to troll. the cave he lives in has gold by the bushel. he will help you out. whenever i feel the itch i wonder to his cave
