I am looking at buying some gold coins to add to my collection (currently don't have any). I was looking at this coin, and wanted to see what you guys thought for grade and authenticity. It's not a great close up photo, so my next step is to look at it in person, but I'd love to hear opinions on what it's worth so I am more prepared going into it - thanks in advance!
Also - is there a good resource for specific coins and comparing pictures for their grade? Something that maybe has 5-10 pictures of specific type coins and where they grade. Thanks!!
I would suggest signing up with Heritage in order to be able to view their auction archives for free. It is a fantastic source of informtion, including images, descriptions and prices realized for almost any type and grade of coin you might have interest in. Here is a link: http://coins.ha.com/common/auction/pricesrealized.php?&stage=1 The coin you showed is hard to get a good look at from the images, but it appears to be genuine and I'm guessing that the grade is in the VF-Xf range - the obverse image is very different from the reverse image. There is a lot of uncertified counterfeit gold out there, so be extremely careful if you plan to buy any.
Based on your terrible photos, it appears to be a 1880 $5 Gold Liberty Head probably in Very Fine condiiton. At todays prices worth about $225.
they are bad pictures - that's why I have to go see the coin in person later today. He is saying the coin is in mint condition from an estate. What makes it grade in the VF-xf range? Is there something particular I should look for in terms of wear? I can tell the LIBERTY looks pretty good as do her hair lines. I can't tell anything from the back. Are there certain things that need to be present to grade in the higher range? I just want to be prepared when I go look at it and possibly make an offer. Main thing I wanted to know was if it was fake - looking at other pictures online it looks legit...but I'm gun shy after that Chinese counterfeit posting!!! I think this is a bigger photo.
The coin is most clearly and certainly NOT in "mint condition" or even close to it. It displays obvious and considerable signs of wear and circulation on each side. The person you spoke to is either an outright liar or so unknowledgeable that he shouldn't be offering opinions. Either way, you should avoid doing business with him. And frankly, if you don't know that about the coin, you shouldn't be buying until you learn a lot more about grading, as you are surely going to overpay (probably considerably) and not end up with what you think you are getting. Sadly, many buyers in your position buy, thinking they are getting a bargain, but are actually getting screwed over badly. Also, please consider this - who has the incentive to misinform you - the person trying to sell you something, or people here (who stand to gain nothing, besides the satisfaction of helping you by telling the truth)? Here's an image of a PCGS AU58 (almost uncirculated), which is not even "mint condition" and still of much better quality and with considerably more detail than the coin you posted - there is no comparison:
It isn't. Red flag. Long answer. For educational reading material, I like "ANA Grading Standards" (for circulated coins) and "Grading US Coins" (Halperin) for Mint State coins. I'm not sure I got the exact titles right... The obverse photo is good enough to prove this coin clearly has wear on the Liberty's hair between the face and the coronet. Maybe XF details, maybe less - hard to say. Looks cleaned due to the flat luster.
Thanks for all the opinions and help. I appreciate the advice - I'm sure I'll become a regular here in no time!
If you are going to buy gold Bill Fivaz has an excellent book on gold counterfeit detection. I would highly recommend buying this book before you buy an uncertified gold coin.
Reading up on counterfeits is certainly a good idea. However, since MNcollector wasn't able to determine that the coin wasn't anywhere close to uncirculated, I'd recommend that he not even think about purchasing uncertified coins, if any, at this time.
Thanks for this advice. After reading this post, I just purchased a copy of it on ebay. Saw one left if anybody else is interested.
I agree with the idea of purchasing certified coins when you're talking about gold. It also makes them easier to resell someday to someone else who also may not be an expert in grading or in counterfeit detection.
