Bought Plat and Gold Eagles but not rated by NGC, PCGS, etc...

Discussion in 'Bullion Investing' started by Jesh, Dec 2, 2008.

  1. Jesh

    Jesh New Member


    I bought some Gold $50 Eagles and some 1/4 and 1/2 oz Platinums ($25 and $50) from Austin Rare Coins, and when I received them, they were not graded (e.g. not in sealed case like when it's graded by NGC, PCGS, etc).

    My question is, how can I get these graded? Is it worth it? I don't like the fact they are in a plastic sleeve compared to coins I own which are NGC graded.

    Can a local coin dealer take care of this?

    Thanks a lot in advance!

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  3. mark_h

    mark_h Somewhere over the rainbow

    Welcome to the forum greg!

    As for is it worth it - to me it depends on what you know about grading and costs. First what do the graded ones go for compared to the raw coins? Is it enough to cover the cost of grading including shipping, handling and insurance(both ways)? I am not sure about that - last time I looked you could get graded coins roughly the same as raw coins. Now if you know enough about grading and think you might have some 70's - then it might be worth it, for when you go to sell them. I am sure others will come along and post their opinions. To me they are bullion coins and not worth the cost of grading. At this point I only have silver left and I buy them graded for a few dollars more than the raw coins.

    I think if you are a member of ebay you can submit the coins directly to NGC. PCGS you can join it and get 8 coins graded free(last time I checked), after you pay $200 to join. I think you still pay shipping and handling both ways - you can check PCGS and NGC's web sites. Also when you check their web sites you can find dealers that will submit the coins for you - I do not know if dealers charge an additional fee for this.
  4. north49guy

    north49guy Show me the Money

    You can:
    a) Join one of the members clubs for a TPG such as PCGS, ANACS, NGC, etc. and submit directly
    b) go to a coin dealer affiliated with a TPG (they have lists on the websites) and they can help you submit it

    GDJMSP Numismatist Moderator

    Don't bother, it's not worth it. If you want slabbed versions sell the coins you have and buy new ones already slabbed. You'll save money.
  6. Harryj

    Harryj Supporter**

    I agree 100%. Grading gold, silver and platinum eagles is a waste of money. Its a trick that many of the TV coin shows use to sell their products. The only exception (maybe) is if it comes back a 70 which is rare. If you want them in a case buy the proofs as they come from the US mint in a nice case.
  7. Jesh

    Jesh New Member

    I bought these through Austin Rare Coins ( Usually I bid through HA.COM (Heritage Auctions).

    All of my other Gold and Platinum American Eagles are MS70 and are 'slabbed' and these looks like 70's also. They are 2008's.

    The thing is I spent roughly $5,000 on these few items and would like to know the best steps in preserving these for the long run (e.g. giving to kids in the future).

    My collection is pretty small, totalling roughly $25,000. I have just started collecting about 2 months ago. My favorites have to be the Gold/Silver/Platinum Eagles and Liberty Heads.

    Damn this addicting :)
  8. Harryj

    Harryj Supporter**

    Small? Have you lost your mind? Most of us here won't even come close to a collection like that in our lifetime, and you just started.
  9. Jesh

    Jesh New Member

    OK well not 'small' but compared to the prices of a lot of these coins I see it is!

    And yes, I have lost my mind :)
  10. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Honestly, with only 2 months experience in coin collecting...I highly doubt you can tell the difference between a MS69 and an MS70. I've been collecting coins for over a decade (which is nothing compared to some members here) and I can't typically tell a difference. If you submit them and they come back anything but will lose money, even if they do come back MS70 you probably won't make anything. If you really want slabbed coins, I'd sell what you bought and buy slabbed coins. Submitting what you have probably won't turn out like you hope it will.

    What I would do, is pick up a couple nice cases for the coins you have that will protect them. I recommend Intercept Shield brand cases.
  11. FreakyGarrettC

    FreakyGarrettC Wise young snail

    Jezz 25000. That is like 25000 double cheeseburgers! :D
  12. rld14

    rld14 Custom User Title

    You know... with a budget of $12,000 per month, you should consider purchasing classic, high-grade, key date stuff. In the long term it's likely to be a better place to store your money.

    But then again, I am prejudiced against modern mint issues.
  13. Jesh

    Jesh New Member

    This is what I was thinking too, but I do like the modern mint issues also as a long term investment (to hand down). What do you think of Liberty Eagles/Double Eagles and Saint-Gaudens Double Eagles?

    I currently have some bids in on going on right now. They are a Saint Gaudens Double eagle 1910-D MS65, Liberty Eagle 1901-S MS65, Liberty Eagle 1894 MS64 and 1925 Saint-Gaudens Double Eagle MS66 PCGS... we'll seewhat happens.

    I am not too much of a fan of cents/nickels, and the such. I mean, it might be good returns, but I have to enjoy it too :)
  14. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    I think this is a point that a lot of people forget sometimes. You have to collect what you like. :)

    For those raw coins you are the holders I recommend. They are a little more expensive than your typical airtight holder...but they are the best IMHO.
  15. Jesh

    Jesh New Member

    Thanks, will check it out!
  16. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Also, I don't have any 1/2 or 1/4oz platinum eagles...but according to the Red Book...they are exactly the same size as the gold issues. The Intercept Shield website doesn't list the platinum eagles on their chart. So, I believe you'd want the 27mm and 21.9mm holders respectively.
  17. mark_h

    mark_h Somewhere over the rainbow

    Have you checked out some of the high end bust coinage on Heritage? I don't understand how anybody would not like the large copper cents. :)
  18. Jesh

    Jesh New Member

    It's pretty overwhelming. A lot of different coins I'd like to get!
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