Recently came was shown some coins by a relative. One of the coins is a 1899 $5 Gold. It has been looked at by a couple collectors and a coin dealer, all of which think that it would grade MS67 or higher. What is the best method to put this up for sale. We understand it's best to get it graded first, but they have trust issues with submitting the coin through the dealer, and also putting it in the mail. Also, does one grading service fetch higher money than another.
The grading services have been very reliable in the past. Getting it graded would add a huge security blanket for the buyer. PCGS and NGC are the most respected as far as I know.
If they have trust issues then there is still a relatively workable solution. If you join the ANA or the NGC Collector's Society you may directly submit coins to NGC. You then can take the coin to one of the major shows across the country, be it The Central States Show, the Long Beach Coin Expo, Baltimore, or any one of a number of other sites each year and submit the coin for walk-through service. It costs more to have the coin graded as such, but it will never leave your possession except while with the TPG. After it's graded, you should easily be able to consign it to a reputable auction house to be sold.
thanks for all the input....I live in North Carolina....I guess I need to look up what shows are going to be here soon, if any will
Welcome to the neighborhood, ichi! Another thing you have to consider is that so many of the gold coins have been counterfeited, and if you tried to sell it uncertified, you might not get anywhere near what it could be worth. You might want to wait shopping it around at any shows until you have it certified. Chris
Congrats on snagging a great coin! It must be very pretty. In all likelihood it is not an MS67 or higher coin. PCGS has never graded a 68 and only one 67 in the many thousands they're certified. At the 66 level only 12 have been certified. And only 66 at the MS65 grade. Professional third party grading companies -- the reliable, accurate ones -- will be very discriminating. I say this just to "brace" you. The advice to get it graded by PCGS or NGC is very good. There are too many counterfeits, too many improperly cleaned ones, too many tooled and altered. Getting it slabbed will greatly improve its value, even if it comes back as genuine with some problem that prevents a numeric grade. (Brace yourself for this too.) Since you asked, PCGS-graded coins commonly bring the highest prices. A little digging through the Heritage auctions sales will convince you of this. You don't have to wait for a show, to get it graded. You can become a member of the NGC Collectors Society or the PCGS Coin Universe which will earn you the right to make direct submissions. Sure, it costs a modest amount to join. But this way you cut out the middleman dealer who will commonly assess a fee anyway. So it's kind of a wash but faster and with fewer hands on your precious coin. Let's fantasize that PCGS grades it MS67. You have, my friend, a $31,000 gold coin. Woo-hoo! Lance.
Thanks for the information. I think I'll talk my parents into going with joining PCGS. We don't have our hopes up for the MS67, but I'm pretty positive on it grading atleast MS65. That would still be awesome. There is no doubt as to whether or not it is authentic, but like you said, it needs to be certified at the least. I will see if they will scan it for me, so I may post a picture of it here.
