Liberty $10 Gold MS63

I am a total newbie to coin collecting, but I just bought 2 Liberty $10 Gold in MS63 (graded by the ngc) for $1175 each = $2350. I cannot find their bid value on the greay sheets. Can anyone tell me what they are worth?

Also should beginners get charged what is on pcgs.com? Or are those all the wheel of fortune prices?

On my other coins, I was charged about 26% above the bid rates appearing in the greay sheets, is that because it's a thinly traded market, or am I just stoopid?

Also does anyone know the bid on these Seated Liberty Half 1858-O from the SS Republic?

SD

 

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What year are the coins?

The best grade guides for me are Heritage and Teletrade auction archives. They have pictures and prices that I find very useful -- a much better source than PCGS price guides or Redbooks to me

If I were you I'd hold off buying $1k coins until you know the right price to pay and what to look for in a nice 63 versus a 62 or 58 (this is particularly so if the coin is in NGC plastic as they overgrade common gold, IMHO).

Good luck...Mike

 

cost

Mike:

Thanks, the year on the Liberty $10 Gold in MS63 is 1895 & 1994.

SD

 

my portfolio

Mike:

Here's my other coins in the portfolio (keep in mind I just purchased these for a total of $9400):

1 Indian 1926 $10 Gold MS64 paid: $2200 -- Total $2200
2 Indian 1925-D $2.5 Gold MS63 paid: $1125 -- Total $2250
2 Liberty 1894 & 1895 $10 Gold MS63 paid: $1175 -- Total $2350
5 Morgan Silver Dollar 1880, (x3) 1881, 1882 - S S MS66 paid: $365 -- Total $1825
1 Seated LIberty Half 1858-O paid: $775 -- Total $775
(from the SS Republic / shipwreak effect)

If the dealers screwed me, he has a 14 day money back guarantee on his website, and I just got them yesterday. I finally ordered the grey sheets and assuming the Liberty $10 Gold MS63 is worth $900, and the *shipwreaked effect* seated LIberty half is still worth $775, I would be down about $2000 on the bid prices?

Also how can you tell if the seal on the ngc graded coin is broken or not?

I want to buy other coins and if he overcharged me, I can send these back.

I do not mind paying something over, but if I grossly overpaid, that's something different.

SD

 

I would send these back....I didn't look up the prices all but I smell a rat....
What I would suggest is that you buy the book and read it before you buy the coin....read all you can about coins...and no PCGS price guide is NOT good...go by online auctions that have ended.

Speedy

 

standard67, Wow! That's a bunch of coin to be dropping on some coins right off that bat!

Well, I did a little research on Teletrade's auction site and here's what I found some of the coins you mention have been going for. All of these mentioned have been certified by either NGC or PCGS and are from auctions over the past few months.

1926 $10 MS64 - $1550
1925 D $2.5 MS63 - $800 to $825
1894 $10 MS63 - $650 to $800
Seated Liberty Shipwreck Effect - $625 to $925

I didn't bother looking up all of the Morgans and didn't see any prices realized for the 1895 $10 in MS63. Also remember that these are from past auctions, so you're not gauranteed that you could still get coins at these prices, but they are probably a good guide as they are fairly recent.

Good luck to you with whatever you decide to do.

Also, welcome to the site! You can learn a lot by hanging out around here.

 

SD,

Send those coins back immediately, and pay close attention to my first post. It will save you lots of money. I suspect the dealer will not be happy. Don't sweat it.

My suggestion is that you pick ONE series and learn as much as you can about it, and make it a series that the coins are $100 and not $1000. Buy books, look at lots of photos, handle lots of coins in your hands.

Once you've mastered that series, you can move on to the most expensive ones. To jump right in to $1000 coins as a newbie is going to cost you lots of money in the long run. Trust me.

Take care...Mike

 

For future reference, here is what a nice, original PCGS MS 63 $10 indian looks like:



Take care...Mike

 

Send them back!! It is my opinion that you overpaid for your "intro to coin collecting" education course.

 

I want to add to my previous comments now that I've re-read the thread.

You say you have these coins in your "portfolio" which indicates that you consider this an investment. Investing in rare coins is exceptionally risky and as such most members of this forum would discourage you from doing it. The problems in investing in coins are very difficult for people who aren't seasoned coin collectors. First you have the basic problem of the coin not performing well, i.e. it might not go up in value. Additionally, there is the problem of buying and then re-selling at market value. Unless you really know what you are doing (which you obviously don't based on your op) it is exceptionally easy for a qualified coin seller to take advantage of you (on the buying AND selling ends of the deal). Newbies just lack the grasp of the importance of the subtleties of coin grading required for accurate pricing of rare coins. Even professional grading doesn't really prevent this as the grading companies aren't all equal and there are good looking and bad looking coins in every grade.

If you are interested in investing in gold/silver, that is a very different critter. In such a case, then you should be interested in modern (1987-date) US/Canada/et al. bullion coins. These are beautiful and they sell very close to their bullion value.

 

Troll Dude

thanks troll dude, I really have no expertise in this business.

I am wondering if I am providing liquidity for the dealers other previous buyers.

Anyway, they recommended coinvaluesonline.com, but when I put together a portfolio, many of the coins were even higher than what I paid!

For instance, the indian 2.3 1925-d in ms 63 was listed at $1500, I only paid $1125. Hard to believe you could actually get $1500 for one.

do you have any opinion on coinvaluesonline.com?

I was told the grey sheets are wholesale sight unseen, non graded coins, so don't pay attention to the low bids there.

SD

 

Said simply, you are being taken advantage of.

Don't ever buy from that dealer again. It was not a coincidence he pointed you to a site that overvalues coins. The unfortunate reality of the coin game is that 95% of coin dealers cannot be trusted except to try and rip you off, and the one you are currently dealing with is doing exactly that.

If you would like I could point you to a dealer who would not rip you off.

Take care...Mike

 

retail?

yes, I am pondering that, I wanted to figure out if anyone ever pays the http://www.pcgs.com prices, or is that full retail?

The real word auction price is a good indicator of what you can actually get fo the coin.

The dealer acted like he was doing me a favor by knocking off $20 from the morgan silver dollars, but the bid on those is $290, $80 less than I paid.

So instead of the standard 12%, I am down 26% over the bid prices on these.

SD

 

As for pricing. You need to be aware there are three types of pricing guides...

What you can expect to pay for a coin.

What you can expect to sell a coin for to a dealer.

TeleTrade and Heritage are good guides for the former, Greysheet is a good guide for the latter. However, most dealers won't even offer Greysheet for a coin. That's why consignment to Heritage or Teletrade, or even direct selling via eBay are so popular. They take the middleman, and the majority of his inordinate profit, out of the equation.

The third type is retail pricing guides like PCGS.com, coinvalues.com, and the redbook. Retail price guides are for coin dealers to set in-store prices, and newbies to be taken advantage of.

Take care...Mike

 

Let me say this again...

YOU ARE BEING TAKEN ADVANTAGE OF BY AN UNTRUSTWORTHY DEALER. DO NOT BELIEVE A WORD HE SAYS.

He has a financial stake in deceiving you. I have no such stake. Who should you believe?

Hope this help...Mike

 

standard67,

Are the Morgans certified by PCGS or NGC? If not, I'd have a hard time believing that you got MS66 Morgans there. In the PCGS Price Guide, the regular 1880 is $6250 and the 1881 is $4500 in MS66, but those have to be true MS66 quality. I doubt if the dealer really thought he had MS66 coins. If he did, why would he be selling them to you for $365 each? Just a thought.

Also, as far as NGC slabs go, I think you pretty much have to break the slab or cut is with something in order to open them, so you should be able to tell if it was broken into. You may see a little bit of cloudiness at certain points around the edges of the slab where the texture is. I believe that is just a result of the sealing process and you don't need to worry about it.

Regards,
tcore

 

The guys have told the truth...you may not like it but its true.
Investing isn't a thing I would suggest...if you like coins buy them for the enjoyment...if they go up..GREAT...if they go down..you still have nice coins.

Speedy

BTW--Don't use CoinValues or PCGS price guide or anything other than Ended Online Auctions.

 

thanks

Thanks you guys for setting me straight, I am sending them back!

Now I just need to change my username !



SD

 

Change your username on CoinTalk? No no no. No need to do that. We all learn from our experiences. Try to enjoy yourself and not get caught up in making money.

 

Smart move dumping them! After you have plenty of time to research and become knowledgeable in the matter, and you still want to buy them, you can simply go back and get them (I have a feeling he doesn't sell much).

I agree, the vast majority of dealers are out to make a buck and let honesty take a back seat, sad as it is to say. But, if you're looking for a reputable dealer, you've come to the right place! Who better to ask than hundreds of customers?