Thinking I may pick this one up. For the first time I spent some time studying the coin and thinking some about it rather than grab and go which is what I usually do.... Here's the deal. It's nothing spectacular. Straight grade at AU53. All seems problem free... Except on the reverse between the "A" and "R" there appears to be a ding. It doesn't radiate through to the front... I like the coin and it fills a void in my collection at what I feel is a fair price.... In fact, my guy let me carry the coin with me while I think this one over. He knows me too well..... Does this seem problem free even with the ding on the reverse?
Ha! I'd buy it just because it's a gold us coin. it all depends upon the purchase price. apmex has them for $545 PCGS AU53 - so that's my $ comparison.
Definitely. I'd snatch it up against a eBay sold comparison for your slab. although one NGC AU53 sold for $202.49 in January on eBay. prices are all over the place. details ones going for under $200 ... PCGS over $400. wow .. I haven't looked in a while at $1 coins since I finished the trifecta. FYI, .. I'm not sitting here with an octagonal gold coin in my Apmex Checkout. if I buy it, it's your fault.
I would be kinda annoyed about the ding, but that's me since gold dollars arent my preference. I say review and see if you would prefer to have a different coin, one that doesn't risk a details grade
I would pass. For a me a spot like that would always draw my attention and bother me. Also I tend to want to buy the right coin from the get-go and not worry about upgrades later. Finally this spot will be a bone of contention when it comes time to sell. It will be an excuse for a buyer to pass or offer you less. The Type II gold is not rare. Although it was only made for part of 1854, all of 1855 and at the San Francisco Mint in 1856, there are still lots of them around, especially in the circulated grades. Here is one that is in an AU-55 holder. With grade-flation, you might not find one this good for the cheap prices (compared to a few years ago) that have taken hold in this coin, but at least you can see how an AU might look if you are selective.
I agree. The ding/mark is small, but you'll always know it's there. One piece of advice is to plan in advance what coin(s) you want, do the research, and then go to the shows/LCS looking for a solid example. I know it's not as fun, but you'll end up with some really nice coins. BTW: I have a lot of trouble following that advise, but on the few occasions when I did, I ended up with some of the best coins in my collection without spending a fortune.
If the ding really bothers you pass on the coin. This type of ding would not bother me personally. It just shows that it saw some life in circulation or outside a collection. To me that is a bonus and adds to the history of the coin. Others would disagree I am sure. I agree that in the future the ding could be a factor in reselling.
I am usually very strict with my purchases, but $340 is a good deal for a nice certified example of a T2 G$1 in AU. Let me give you 3 more good reasons why you should buy it: 1) You said yourself “I like the coin and it fills a void in my collection”. 2) The seller appears to be your preferred dealer. “My guy”, right? 3) NGC gave it a straight grade, so the ding can’t be too bad. I’d buy it...
I agree with this statement. I'd rather pay a little more for a coin that I have no issues with than one I got for a good price, "but" has an issue I'm not entirely pleased with.
If the price is right I'd buy it but those dings would irritate me after a few days of looking at it. It did straight grade.
