1855 $20 GOLD S mint

[thewatchers]

I am coming up on a chance in 2 weeks to try and purchase this coin. It is suppose to be real good on one side of the coin and a little wear on the back. I believe the guy purchased it back in the 60's and 70's. Was wondering what would be a good starting offer. I don't wanna under price it for less than he paid when he bought it but ofcourse I don't wanna offer anymore than I have to. I did offer him 20 bucks for each silver dollar and he told my buddy to sell all 22 of them to me without a second guess. Just wondering what everyone thinks?

 

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[Mackaydon]

Your $20 per coin sight unseen offer was.......generous.
The bullion value (at $17 per ounce silver) of a .77344 silver coin is $13.15
Best to do your homework on the $20-gold piece.
Have a good idea of what the various grades should look like and their current wholesale (and Ebay) prices.
Otherwise, you could get hosed.
Welcome to Treasure Net!!
Don..........

 

[jasper62]

I would'nt buy a coin sight unseen unless I was getting it for the melt value.

 

[thewatchers]

No worries. I didn't commit to buy them. I don't buy any of my morgans unless I can count all her hairs or writes the letters CC to back her. Never been much for the peace dollars but if they are fine enough then I will consider them. Still wondering what anyone thinks the gold is worth.

 

[Mackaydon]

There are 70 grades; hard to tell you within 20 grade levels of your potential acquisition without seeing it.

 

[Letsgethammered]

I agree with the others , too difficult to speculate without seeing pictures of both sides.I can give an example of dealing with US gold in that i recently bought a 1/4 eagle sold as in AU condition,a pretty penny for sure.However on recieving the coin i noticed a few almost faded marks on the reverse,not a problem you might think..experts told me differently.Because of those marks even though faded by time and only visable in certain light it was deemed no better than a fancy piece of bullion.
I contacted the seller and it was agreed i should only be paying bullion price.If you consider the difference between an AU 1/4 eagle and 1/10th oz of bullion you'll see what a minefield buying gold coinage is.

 

[Mackaydon]

'Caveat emptor'; do the Due Diligence.