Just picked up my first old gold. Any opinions on grade/value?

Discussion in 'US Coins Forum' started by e30kgk, Mar 13, 2014.

  1. e30kgk

    e30kgk Member

    I picked these up today for right about bullion value. However, they seem to be in pretty fantastic shape - but I'm certainly no expert on US gold. Any opinions would be welcome! 01 - Fd9Tf1l.jpg 02 - KewnfFy.jpg 03 - 4yAZwIu.jpg 04 - 0IQUdVK.jpg 05 - OokOko6.jpg 06 - yqHe5Sp.jpg 07 - C00AS0O.jpg 08 - 3zIQIcP.jpg 09 - byMO3si.jpg 10 - DXiHl7L.jpg
     
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  3. Mkman123

    Mkman123 Well-Known Member

    where did you buy them? Always be careful, their are fakes!
     
  4. e30kgk

    e30kgk Member

    Bought them from a very reputable local pawn shop.
     
  5. spirityoda

    spirityoda Coin Junky

    I like them especially the $2.50 dollar 1
     
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  6. Mainebill

    Mainebill Bethany Danielle

    All. Xf to au common dates but nice early gold worth a bit of a premium over melt but not significant numismatic value regardless there nice coins anyone would be happy to have
     
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  7. Travlntiques

    Travlntiques Well-Known Member

    I really like them all and would be very happy to get them anywhere near spot! Well done :)
     
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  8. Hotpocket

    Hotpocket Supreme Overlord

    Yes, nice coins - picking up any gold coins for spot price is a bargain these days. Good find!
     
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  9. Mkman123

    Mkman123 Well-Known Member

    since they are real and you got them close to bullion price, great deal, you now hold a cool piece of history in your hands! :)
     
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  10. Jwt708

    Jwt708 Well-Known Member

    Think you did good with price.

    I'm not an expert on these coins but they look cleaned to me
     
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  11. Treashunt

    Treashunt The Other Frank

    Gold $1 for near melt?

    If real, a great deal.
     
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  12. fiatfiasco

    fiatfiasco Nasty Details Member

    Great price for the coins! I would pay melt all day long for those!
     
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  13. e30kgk

    e30kgk Member

    Yep, paid a little under 5% over for each of them. I do believe them to be real - reputable seller, details appear right to my untrained eye, they sound right, and weights are dead on to within the accuracy of my scale.

    Do you see anything other than the price that leads you to be skeptical of their authenticity?
     
  14. e30kgk

    e30kgk Member

    I do agree that they look cleaned. Definite hairlines in the fields under the right light. However, I was hoping for some more insight on an approximate details grade, more out of an academic exercise to learn a little something about grading US gold. I'm completely new to it, but I highly doubt this will be the last time I buy some.
     
  15. GDJMSP

    GDJMSP Numismatist Moderator

    Detail grades are meaningless because there is no grade at all since problem coins cannot be graded. In other words, there's no difference between a G details and an Unc details label.

    Some folks however just can't seem to wrap their heads around the idea that problem coins have no grade, none at all, and they never have had any. So after 20 years of refusing to slab problem coins at all, the TPGs in order to keep their customers happy, and to get the money from submissions of problem coins flowing in, put those designations on the labels.

    It's just another of their marketing methods kind of like putting First Strike, Early Release on the labels when those words meaning nothing at all. But because they are there, people spend their money to get them there.
     
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  16. e30kgk

    e30kgk Member

    I couldn't disagree more strongly with you on that. G details coins and Unc details coins are vastly different in both value and appeal. An otherwise nearly flawless coin with great detail, full luster, and a problem is significantly more desirable to most collectors than a worn-slick coin with the same problem. I'd even say that it would be more desirable than the worn coin even without the problem in many cases, to many collectors.
     
  17. Morgandude11

    Morgandude11 As long as it's Silver, I'm listening

    I agree here with Doug. Since they are details coins, they lose a lot of their numismatic value, and have primarily bullion value. However, even cleaned, they are pretty coins--they will just never grade.
     
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  18. Mkman123

    Mkman123 Well-Known Member

    They would be great to show the kids........."hey kids, look at what a ten dollar coin looked like back in the day". Ahhhh this is why I love coin collecting so much!
     
  19. GDJMSP

    GDJMSP Numismatist Moderator

    I'm not disagreeing with you that that is how some people think. But like I said, that's because some folks just can't wrap their head around the idea that problem coins have no grade because problem coins cannot be graded. They just don't understand it. So they think that even though it's a problem coin, if one has a greater amount of detail than another, then the one with the greater amount of detail should be worth more.

    But that reasoning only applies to coins that have actual grades, coins that can be graded. What they are trying to do is apply the same reasoning to problem coins. It's akin to saying apples are like oranges because they are both fruits.

    The sad truth is that in the greater numismatic community no problem coin has more value than another just because it has more detail.
     
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  20. mrweaseluv

    mrweaseluv Supporter! Supporter

    well the 2 $1s are in pretty good shape I would say vf/xf and xf/au on the 2.50 and 5. All 4 appear cleaned to me so would most likely be "detailed" if graded. At near melt you did very well. I know without a doubt both of the $1s would sell 150-300 (love tokens of both sell in the 100-130 range) so 2-4 times melt even in details grade and the 2.50s I seldom see sell for under $400. I haven't done much with $5s $10s and $20s yet as they are beyond my budget at moment but I would still expect to pay at least twice melt for the one you have there. So at near melt I think you did fantastic and would gladly have any of the above in my type set :D
     
  21. drathbun

    drathbun Well-Known Member

    I will admit I am a novice at grading. But it seems weird that it's so binary... a problem coin is a zero, and a non-problem coin is a one, no matter how slight the problem is? Certainly I can see where someone (such as myself) that doesn't catch this subtlety would pay more for a "pretty" problem coin than an ugly one...

    Maybe I don't understand what causes a coin to fall under the "problem" category. I guess I have some more reading to do. :)
     
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