Need help with gold Indians...Part 2

Hello again, I recently asked about a couple coins ($2.5 gold indians ) that a friend had purchased from Great Southern Coins on EBAY. I now have the coins here, ( and friend ) and will try to photograph them to determine the authenticity, grade, and value. We are photographically challenged, ( is that right ? ) so please bear with us. Using a Kindle Fire HDX . They claim on their site that they don't place grades on their raw coins as a disclaimer, yet they actually did, at least on these 2 coins. We will show both coins, what the grades were supposed to be, and the costs. Please help if able. Should be fun. edit, couldn't get a good pic at all. Can you help with what we have ?

 

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Here are the 2 coins as pictured on the site, I know we couldn't supply good pics with what we had, but we did what we could in previous post.

 

Like I said in the other thread, I have gotten great coins from them, and always bid on their $2 1/2 coins. The 1908 looks MS and has a cool die clash on the Indian's neck (ANACS will slab it and list it as a clash, ngc will not), and the 1927 looks AU/BU details cleaned, unless your lighting is just making it look like that.

 

I posted that without seeing your second post. Those pics confirm second coin is cleaned, and more like AU details. 1908 is high AU or low MS and a really nice coin that I would have gone after for sure.

 

The 1927 looks like it still has cleaning compound embedded in it. The 1908 looks better, but I don't think it would grade as a MS coin.

 

It would probably grade AU, but the original pics make it look like it has some decent luster left. So, what did the seller list them as, and even bigger question, what did your friend pay? I bid on almost all of this seller's $2 1/2s, so I guess your friend decided to pay more than I did, lol.

 

Never mind, found the sales. I bid about $30 less on the 1908 (still a great price, I try to sell for a profit). The 1927 does not have a grade range listed, which is good, since it is cleaned. I would have bid about $50 less on that one, and I don't think he got as good of a deal on it. However, I really don't think he should return it, cause it is as listed. It would just be for buyer's remorse, which is kind of an annoyance for dealers. The price on the 1908 balances it out.

 

Thanks for your response, so to sum up, all in all both with keeping ? The 08. Being the better deal, but over paid for the 27 ?

 

ya

 

If the second one was cleaned, but not listed as such, wouldn't that be deceptive practices ? He says that he will keep both, just wanted to make sure that they were authentic. With gold being so low right now and no real signs of big changes, how many of youi are buying these right now ?

 

After looking at the pics we posted in the mornings light, I am embarrassed of the poor quality, never realized how hard it is to get good pics of gold. Those of you that can get good gold pics posted, I have a newfound respect for.

 

Thanks to all for helping out.

 

Yes, but this is a cutthroat hobby. Do not be fooled into thinking it's safe because of the huge amounts of money involved. Everything about numismatics depends on subjective judgement; nothing is "written in stone" in any prosecutable sense. Aside counterfeits, the hobby is completely unregulated and you can do what you please. Some of the largest sellers on Ebay are some of the worst offenders. The proof of the danger is in the fact that we - the body of collectors/buyers - tolerate sellers like these because they also offer stuff worth buying.

Learn, or be eaten, is the rule. A fair percentage of coin buyers don't know that rule, and they're being eaten (well, their wallets are) as we speak. They just won't know it for years down the road, when they try to liquidate the dreck they bought.

 

Eh, not really, in my opinion. It would be deceptive to say it was BU or something, but to just have a picture, and say "sold as is" is not deceptive at all. I could easily tell by looking at it that it was cleaned. I literally buy and sell these every day, so am always buying, no matter what gold does.

 

Agreed. We can't really regulate this, and there's no use in frustrating oneself by railing against human nature. Hence, we educate.

A corollary is, for every uninformed buyer there's an uninformed seller as well. A sharp buyer is a shark in those waters.

 

I've got a few coins from him at pcgs as we speak. Hoping for some decent results.

 

They've got stuff I wouldn't mind buying, but with their huge clientele it's difficult to get a good price. In your specialty, you're sharp enough to cut your margins closer than I can as a generalist.

 

I for sure overpaid on the 2 I am getting graded... but they were both toners I am hoping for a straight grade... don't really care what the grade is, as long as they grade. I am submitting 8 toners though, so hopefully they do not think I AT'ed them.