Is there any real value in getting gold coins slabbed if they are what seems to the eye as impeccable condition? I've noticed online that most raw gold coins are mostly circulated ones. But what if they are not, and in dazzling condition?
Certification is always nice to have with gold coins, whether they be circulated or Mint State. PS- and all the more reason to submit them, if they appear to be high grade.
For most all modern bullion gold coins, it's almost always a waste of money. The value of those pieces is tied to the gold spot price. Certification, which is not cheap these days, doesn't add much. For old U.S. gold coins minted 1933 and before, it's almost mandatory if they are nice pieces or rare or better dates.
This is a good additional point- modern bullion gold coins are probably best kept in their original government packaging (though you didn't mention that).
If a (common-date) gold coin is in lower mint-state condition, I'm not sure there's much of a price bump if it's slabbed. It'll be easier to sell in more venues if it's slabbed, because that makes people more confident that it's authentic. Grading gold coins tends to cost more than you might expect, though. The intrinsic value of the metal bumps them up out of the cheapest categories: ANACS specifically says "no gold" for economy class. NGC quotes $23 for economy, $35 for gold. PCGS quotes $23 for economy (no gold), $40 for "regular", which is good up to $2500. Double eagles are threatening to cross that threshold, and the next tier, "express", is $70. ICG doesn't call out gold separately; they're $15 for coins up to $500, then $20 for up to $5000. I've had dealers at shows tell me that they don't respect ICG grades on gold (although of course dealers always try to talk down your coin when they're buying), but they seem to be trusted as authenticators. And, of course, there's been a CoinTalk special for ICG grading -- I've submitted some family gold under that offer (thanks, @Insider!) If I came into more old US gold, unless it was a rarity or I thought it had a shot at a high MS grade, I think ICG would be my first choice, ESPECIALLY if the CT special is still available.
Barney, (As hinted at in previous post regarding authenticity) With the high price of gold there seems to be a higher number of fakes prevalent. Therefore, if you are not buying TPG pieces, it's best that you buy any raw gold from a trusted dealer. Seasons Greetings, J.T.
Thanks for the replies. The coins in question are King George Sovereigns, a quarter ounce a piece. With current gold prices, their melt is worth anywhere from 450-500 for circulated condition. Depending on dates and mint marks, those values go up. That's why I asked about true gem condition with regard to grading. These were used for real currency and not bullion, dates range from the 1900s to 1930's. They've been in a vault for nearly 50 years. Gold was relatively cheap then, so I doubt if they are fakes. If they are, they did a heck of a job! If that helps any in further advice.
Oops -- all the prices I quoted were for US coins. I honestly don't know whether sovereigns were counterfeited much in the 60s and early 70s. I know US gold was, but that was because it had more of a collectible premium (it made sense to strike counterfeits from real gold).
There are plenty of sovereign copies around, but most stand out like a sore thumb. Typically the detail is mushy and the border is often ill-defined. The 1917 London sovereign is copied due to its rarity. Another pair of copies that would slip under the radar rather more easily is the 1887 £5 & £2 that came out of the middle-east in the 1960s. On these there are two main pointers, the easiest being the die axis which is misaligned, and the edge milling count which is wrong. Again, to the trained eye, the detail isn't crisp enough. Examples of both are here, with the die orientation shown. Based on mint tests done in the late 1960s, the gold was found to be approx. 0.89 fine as opposed to the genuine article's 0.9166 and in the case of the £5 piece tested, weighed 39.7204g which is less than the genuine coin range of 39.87549 to 40.00507g. The edge milling count was also off, being 188 compared to the genuine's 184. An article at the time also mentioned a flaw off the top right hand side of the second I in VICTORIA, but only some examples I have seen show this feature.
I think sovereigns are generally worth slabbing, even if they don’t have much premium over their bullion value. But as World coins, they’ll cost a little more to slab, and the costs of slabbing may cut into your resale later, if that’s your plan. But in slabs, they’ll be more marketable, so that’s a tossup.
Thanks Lord! I may take a stab at a photo of a coin my father had made into a necklace for my mother. It's still in the protective sleeve, she never got a chain and wore it. It's an absolutely beautiful coin. Sadly, I'm afraid it's not just bound by the necklace holder with four corners pinned to bind it, but possibly soldered to it. The good news it has 34 friends in the vault that I might consider for slabbing.
I didn't start collecting coins until my father passed and left his "coin collection" to my brother and me. There was an equitable division. When my brother got his collection of coins, he left them in the jar that my father had kept them in. However, when I started looking at the coins, I knew I was over my head. Thankfully, a local coin store, helped me get started. His first recommendation was to get the Red Book and red it front to back and then read it again. I was about 65 than. That was 11 years ago. I caught the "bug" and have learned alot from this web page and from reading several books. I got a lot of books for free from coin collectors and dealers. I have enjoyed what I do with my coins. I really like to collect the American Liberty gold and silver coins. Anyway, I got a letter today from the Mint apologizing for sending the wrong Certificate of Authenticity for the 2023 American Liberty Silver Medal. They said they made a mistake by labeling it a coin, when in actuality, it is a Medal. When I opened up my American Liberty, I found it had the correct label as a Medal. So, I now have two 20 Certificates of Authenticity for the 2023 American Liberty Silver Medal. I was hoping I did have one with it label as a coin. Should I leave it as is?
