Hello All, I am a novice collector and am thinking about purchasing my first gold 5$ Liberty....nothing too expensive maybe a nice MS 61. For the most common dates, what would be a fair market price to purchase? One more question. I have read many threads on this forum that have made me very sceptical about purchasing on the online bay company. Unless the coin is slabbed, should I stay away? Thanks for your help !!!!
eBay is a place where I buy a ton of coins, it's also a place where it is VERY easy to get burned. I don't collect gold coins and don't know much about them, but I will say that I keep hearing people warn about buying raw coins on eBay, particularly gold ones. To me any raw gold coin on eBay is worth melt value. I would think that if it's a reputable seller with good feedback from selling coins, I'd have no problem buying an NGC or PCGS ir an ANACS coin there.
Grey Sheet Ask (dealer wholesale) is $300 in MS-60 and $350 in MS-62. Interpolating between these two points gives us a price of $325 in MS-61. But you can't buy the coin from a dealer for that price so you will need to add a percentage to that price. You will have to be the judge as to what that percentage is. To answer your second question, while counterfeit Liberty Half Eagles exist they are not nearly as common as Indian $2 1/2 and $5. So use caution when buying these coins raw. My suggestion is for you to buy your coin from a reputable coin dealer rather than raw off eBay. Alternatively you could look for the coin on Teletrade. Teletrade only sells slabbed coins. Welcome to CoinTalk. Hope you hang around.
Here's how I evaluate "in between" grades. First, it's not linear. MS-61 is NOT halfway between MS-60 and MS-62 with regard to price. The exception occurs when the two values are close such as in Hobo's example. Then 50% does no harm. Otherwise work with something more like 25-30%. For the grades between AU-50 and MS-60 I do something like: - AU-53 - 10-15% - AU-55 - 25-35% - AU-58 - 50-60% Yes, there are gaps between my grade evaluations. Consider this "wiggle room" for coins at the top end of the grade OR particularly desirable coins. Stuff like that. As for an actual dollar amount, I compare greysheet Bid and Coin Values prices for the grade. My maximum bid will be somewhere between the two taking into account S&H. (S&H is money out of your pocket that you pay to acquire a coin. To me that's part of the cost of the coin.) The "somewhere between" varies with the quality of the coin for the grade AND the desirability of the coin, but rarely goes above 50% of the difference. If I figure that 40% of the difference is correct (for me), then I calculate that value AND then subtract S&H. You get fewer coins this way, but the ones you do get you know you got at a good price. All this doesn't apply to coins under $20 or particularly unusual items.
My suggestion is that you not buy a 61. I think you will find that most of the 61's are, well, beat up, and you'll find a much more attractive coin in 58 or even 55, or moving up to 63.
p.s. if you are a novice, I would strongly suggest that you purchase a certified example, or if you buy a raw one you buy it from a professional dealer with a stellar reputation. But really, you'll be better off with a slabbed coin, IMO.
a 65 will look even better just so that you know. i would also suggest showing your coin and price details here before you buy it we have some gold experts here. ( not me i just manage kingdoms)
Hello jjm861, #1 I agree with Leadfoot's recommendations. It is good advice. #2 61s are typically beat up and not so much fun to look at. You will probably enjoy viewing an AU55, AU58, or MS 63 going forward. Buy something certified. The coin may cost $20 more but your peace of mind & enjoyment will be secure. #3 Buy a coin that you like. Never buy a coin that you don't like because you’re not going to like it any better going forward. Very best regards, collect89
I would buy a slabbed coin and would buy from a reputable dealer or from Teletrade or Heritage or the like if you're just getting started. As was stated, you often can find AU58 coins that have nicer eye appeal than MS60 or MS61 coins. You'll just have to judge each coin on its own merits. Also, since you didn't specify which date or mint mark you'd like, I'd check out mintages, population reports, etc...make it a little learning project. You often times can get a significantly rarer coin just by doing a little research and pay about the same price as you would for a very common coin.
I think that this is excellent advice and I would follow it. But, what are you looking for. If you're looking for eye appeal...you will likely find a better example in AU58 with a touch of wear because generally these coins aren't nearly as marked up. An MS61 will be more valuable, but will likely have a lot more dings (just no wear).
