I've been helping one of my partners with some gold coins he inherited. I sent them all to NGC. He's already compensated me for doing this. (one of the coins, a 1907 quarter eagle, came back an AU-58 and he gave it to me. The total value of the coins exceeds 10k in my opinion) I'm now interested in purchasing one of the remaining coins. It is a 1900 Coronet Half Eagle graded MS 62. The greysheet lists it at $500. The same coin greysheets at $950 in MS 63. This is a really nice coin and I think its high for the grade. I figure if he tries to sell the coin to a dealer he'll get less than greysheet. I figure if I tried to buy this coin retail I'm going to be paying a premium over greysheet. I'm planning to offer him $500 for it. Do you guys think I'm being fair with him? THE HEADING IS AN ERROR. THE COIN IS A $5 HALF EAGLE...NOT A $10 EAGLE.... Thanks.
Patience... Probably not too many people on in the last two hours since you posted: working late, eating dinner, going out, commuting home from work between 6-8pm... While you wait, check out the new NGC Price Guide for your Liberty Head $5 gold coin
1900 Half Eagles list for $630 on Numismedia in MS-62 so I would say your $500 offer is in the ballpark and would not be considered thievery. If you're worried about it, just tell your friend what the coin is really worth and that if he were to Ebay it that he'd likely get a little more for it than what you're offering and then let him decide for himself what he wants to do with it. Btw, according to Numismedia, 1907 $2.5 lists for $396 in AU-58. How do you figure the coin to be worth $10,000?
Gopher - I meant ALL the gold coins I sent to NGC for him. I sent in 14 of them. Thanks for your response.
Pictures would do wonders! If i were you i'd offer $475, becuase if you plan on resubmitting it for a higher grade your going to have another expense into the coin... In my opinion $500 is probably fair, but if you can get it slightly cheaper all the better!
U might sell it for a little more on ebay but the seller fees are 15%. I think it is a fair deal but if you feel better about it offer a little more than greysheet.
