New from coin show today:

I'm working on my collection of type 1 gold dollars. Here's my pickup today from 1853. Still working on better photos. Thinking about sending it in for grading, let me know what you guys think!

 

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I like it! I just bought an 1849. They can get pricey though, especially when you get into the MS graded varieties. I got lucky on mine, but most sell now for over $200.00 and can go higher fast.

 

Nice Pickup! I love 1 Dollar Gold Coins!

 

Thanks guys! I love the history behind them - and I love that you can pick them up and not break the bank. I'd like to get a nice date set of the Type 1's. Here are some better photos I shot:

 

I would not submit

 

Thank you for the poignant post! When I look at it I see well defined knobs on the coronet, as well as a complete and legible LIBERTY on the headband. The coin has good luster and, I believe, good eye appeal. The hair is well defined. There are a few light marks. The back of the coin seems similarly well defined to me.

I am however, admittedly, still very much a beginner in collecting and grading coins. So in the spirit of making CoinTalk a forum for promoting knowledge and fostering budding interest in new collectors I thought it to be, perhaps you could elaborate on your post!

 

Really nice pick-up, Congrats!

 

Ahhh - I was afraid of that. The dealer owns a store here in town, so I'm not too worried that it is counterfeit. However, I was concerned that it may have been cleaned. Are there any pointers you could offer me going forward how to tell if a gold coin has been cleaned? I looked carefully for small surface scratches to see if it had been "whizzed," etc, but you picked up on something I didn't. Any help in this area would be appreciated.

I guess my thought in getting it graded would be to confirm that I did spot a nice example and had applied what I'd learned to make a good buy. If it graded at least XF which was what I was hoping for at least - I would have done pretty good on my purchase price. If you're right and it's been cleaned - then... maybe not so good!

Again, thanks for your post, and any further clues that helped you pick up on it having been cleaned would be much appreciated!

 

I completely agree with what GDJMSP said:
And a word of warning for you. Gold dollars are among the most heavily counterfeited of coins. And by your own words you are a beginner, so buying raw examples of these is a bit more than risky. If however you are buying from people that are well known and trusted, then that risk is alleviated. But if you are not .........

Consider buying a copy of the United States Gold Counterfeit Detection Guide by Bill Favaz. Also, consider the courses on counterfeit detection offered by the ANA. The correspondence course includes a good counterfeit detection book I think. The books teach you to look for counterfeit diagnostics like file marks around the denticles, field pimples, mushy details, and to keep an eye-out for common reverses.

Diagnostics like die cracks & copper spots are indicators that a gold coin might be a true US Mint product. Personally, I only purchase raw gold if I see specific diagnostics on the coin that screams genuine. Otherwise, I walk away and only buy slabbed gold.

 

It's also worth noting that many people confuse "shininess" for luster. A shiny coin with no telltale cartwheeling is usually not a good sign.
A good friend of mine kept telling me that he had many coins that had beautiful luster.
I looked at them and many had no luster whatsoever. They were just really shiny cleaned coins.
He knows better now, and it has greatly improved his buying and grading skills.

 

As far as grading goes, don't. You have already gotten more information here than any TPG would give you.

 

You guys are great. I can't tell you how much I appreciate these answers. Clearly I have a long way to go. I think for the foreseeable future I need to continue to read, study. I should probably stick to already graded examples of coins I want to collect, while I gain a better "eye" for evidence of harsh cleanings, etc. Again, thanks a million everyone!

 

Send it in for authenticating and nothing else. Nothing helps the value of gold more than a slab that says "Genuine."

 

I didn't realize that was possible. Who does that?

 

All of the TPG's do. For PCGS for example all you do is check the "Genuine No Details" box. If its authentic you'll get it back slabbed with a label that gives the coin name, denomination and reads "Genuine."

 

explain more

 

agreed!


Doug:

Did you really mean harshly cleaned?

I do believe that I would notice that, at least I would hope so.

 

Nice coin bghennessy! :b8nce:Also very nice advice thus far on this thread. Couple things I'd like to add as well here.

A coin collector best attribute is knowledge of the industry. The more books a collector can read, the better the chance they stand to purchase wisely. Research all aspects of coins, from precious metals to history to grading. This knowledge helps you be prepared to make that purchase or to know if this coin is a fake. Read, read & than read some more!
That's a nice gold coin. But I do not believe its worth your finances to send it in. Regardless, it's a nice coin to add to your collection! Wish I had one like it. Congrats!:cheers: