Bought a 1908 No Motto $10 Gold Eagle Raw

I just wanted to point out that not a single person answered the OP’s question. Edit: except for @Michael K

@40_mila_kokkina I wouldn’t feel comfortable buying that coin with the picture detail being so low quality. Gold isn’t my specialty and these are particularly expensive. I’m afraid I’m unsure if it’s even real, but that doesn’t mean it isn’t.

 

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I couldn't see any details after I expanded (nor before) the image either, so I just moved on. Not enough image details to come to a conclusion (guess) for me.

 

Grading and slabbing debate aside, buying raw gold on eBay — unless you are highly experienced with the coins — is asking for trouble.

 

^^^^
Agree with the above. This is a risky play.

 

"I sent it to SEGS for their grading expertise. In my last batch of coins I submitted to them, 6/11 failed to straight grade, one of them disqualified from encapsulation. They're tough graders these days."

I'll be the first to admit that I don't know enough about gold to put forth a qualified answer, but what concerned me is that the OP chose to submit his coin to a grading service that does not command the respect, whether imagined or not, in the resale market.

Chris

 

OP: Why did you decide to buy this coin and send it off to grade?

There are very few answers to that question where my response would be anything other than: buy it already graded if you want a graded example and if you want to buy it raw plan to leave it raw and get it from a respected dealer.

 

I think it would be good for people to start with the part about not being qualified, before seemingly ignoring the question entirely and jumping straight into criticism. Just my two cents.

 

I would only add two things - 1) any coin that SEGS rejects would most likely have rather severe issues to begin with, and 2) I would pass on the OP coin as it appears to have multiple rim issues, per the images provided.

 

Might be is the key.

 

I try to pick my wording carefully!

Chris

 

Damn good lidigation. Did you go ahead with your sale knowing this. And why

 

Boy oh boy. This stuff is hard to follow. Yeah. Buy the coin i guess. It's just that collectors keep resupmitting till they find the weakest link

 

The coin appears pretty rough to me, and cleaned.

 

The dealer who owned the $5,000 SEGS piece also owned the $20,000 one. He wasn't looking to cross it, and since he owned it, I presumed he knew what he was doing. If it had been my coin, I would have gone for it, but I didn't what that kind of money in a coin for which I did not have a retail customer lined up.

 

But if you’re going to put it in a holder, don’t choose a service that will be much less liquid and cost your $$$ if you need or want to sell it.

 

Where did you pull this figure of 10 percent from?

 

I made it up. Maybe it’s an exaggeration, or maybe it isn’t. The point is that the vast majority of US collectors put more weight on the holder the coin is in (or isn’t in) than on the coin itself.

 

It's not a really great coin, it's well circulated as the photos show. If it was MS-63 or higher you would be making a credible point. The coin is rare but worth most of its money in bullion. I paid $728 for it, which is fairly reasonable. The bullion spot price yesterday is $631.

 

There are reasons to use SEGS over the big two (or four) actually. Their product is better, better description, lower price, personal service and normally less busy. I like getting my coins returned to me quickly without paying an arm and a leg, don't you? Also why not spread the business around? To have PCGS and NGC get all the business means they have too much work and less time to do the needed, thorough, good and proper job which is required for our fee. Other good graders deserve to have success as well. Creating a monopoly of coin graders leads to a more expensive product, worse quality and lack of need to do better (or innovate) and compete.

 

I actually like CAC. I notice many of the non-CAC approved coins are not good ones in PCGS or NGC holders. I find plenty bad specimens from the big two and notice there's no CAC sticker on them which comes as no surprise to me. CAC would be worth more to the hobby if they'd expand out to the other graders that have some credibility.