$10 gold coin

So I know a guy that owns a gas station. I went in today (well...yesterday) to see if he had any extra rolls of change or "funny money". We got to talkin and he keeps all the silver he finds, blah blah, etc. He told me about a $10 gold coin he has and offered it for either 325 or 350 (I don't remember). Now he sounded like he knows his stuff, but I couldn't find any coins in that price range online. He said it's a $10 gold coin year 18??. I'm gonna look at it after work today but what do any of you think it is offhand?:hail:

 

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A genuine US $10 gold coin (Eagle) currently has a melt value of $662. I would jump all over that (if it is genuine).

 

You need to be careful purchasing raw gold unless you are adept at spotting counterfeits, especially from someone other than a trusted/knowledgeable dealer. There are many counterfeits floating around and even if he's not intentionally trying to rip you off with a counterfeit, he might not know what he has.
Edit to add: As the old adage goes- If it seems too good to be true, it usually is.

 

I'll take a couple pictures tomorrow when I look at it. Is there anything particular I need to be looking at to check authenticity?

 

Check the weight and diameter. Should weigh 16.7 grams and be 27mm in diameter. As noted above, melt value is over $650 so be very careful!

 

I would ask him where he got it. TC

 

If you have a local coin dealer ask him if you could take the coin there and have it checked
Out for authenticity before you buy, that,s your best bet

 

Well it turned out to be an 1887 graded at AU-55. Unfortunately he talked to his guy and the price increased (a bit ) overnight. lol It's authentic for definitely. What would any of you expect to give for a coin dated and graded as such?

 

Who graded it? Is it slabbed? If so, by whom?

 

It's slabbed and I'm thinking it was ANACS.

 

$750 would be a good price for it. Me? I wouldn't pay more than that because it's a common date and the slab doesn't really add any value unless it's MS (and it's not).

 

Look for any toolmarks , pitting , a hit on the coin that isn't shiny like a regular hit , irregular reeding , mushingness in devices and check weight and diameter . These are just general guidlines .
The thing that bothers me if it's a 18?? eagle that's near 1/2 oz. of gold , selling for $350 means it's either fake or stolen . Remember if it's to good to be true it usually is .
rzage

 

Well he had bought 5 of them years ago and hadn't checked prices in quite a while.

 

The slab is useful because it at least means the coin is genuine