Gold coin grading help

[CC-Hunter]

I have an opportunity to buy some gold coins from someone in my area but am having a really hard time coming up with an approximate grade. Any help is appreciated.

 

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[CC-Hunter]

Sorry - posted too soon

 

[OU812]

Wow!!!
Those look in great condition.

 

[OU812]

I'd say they would be at a
MS-63
Fine not mint but fine.
Slight fade with a bit of ware and tiny marks, but fine condition.

Hope this helps

 

[stefen]

Buying graded gold coins may not be a good investment when considering resale value.

Many potential buyers may not give a Rats-Patootiei and will buy at weight, not grade.

 

[Beachkid23]

Being that there ungraded I would not pay any more than what they're going for on eBay. On the lower end. Mine is probably 30% of the lower ones if you plan to resell them. I just sent morning to be graded and ended up being worth $700 instead of the $2500 for the next grade up. Then it cost me $64 to have it graded and mail back. That was for a Morgan. I don't know how much it is to have gold coins graded probably the same cost more to ship them because of insurance.

There's a couple of the 1927 double Eagle said sold on the bay for $1100. Not graded as well. Ones that were MS 62 I think were like $1300. I wouldn't try paying for grade coins that are not graded. That's just my thought though.

 

[cudamark]

Gold coins are very hard to grade from a photograph. Just judging by wear, all look to be at least AU. Whether they're MS or not would need a good loupe and hands-on examination. The difference between an AU55 and MS65 can be substantial!

 

[CC-Hunter]

Thanks. The 1853 $10 is in worse condition than the others, relatively speaking, but they are all nice. I will be conservative and treat them as XF or AU. If I get a decent price and buy them I may send some or all of them in to be graded. They are all common, but some MS grades would be a nice surprise.

 

[huntsman53]

I agree it is very hard to grade coins from pics and especially so, Gold coins! However, I gave them a quick look and my assessment is below.

1911 $5 VF-35 to EF-40 (Mainly due to the wear on the Indian's headdress, hair and braid.)

1911 $10 MS-60 to MS-61 (Nice coin but the nicks on Miss Liberty and on the rims, hold the grading down.)

1927 $20 MS-62 to MS-63 Satin (Beautiful coin but again rim nicks and dings on the Obverse, hold the grading down.)

1853 $10 VF-35 (Partially due to wear but mostly due to all of nicks and dings.)


Frank

 

[doninbrewster]

I think Frank is pretty close. I don't think the $10 makes mint state. My opinion would be AU-55. Again, hard to grade coins from photos, particularly gold.
Don - 10 year contributor to the Redbook

 

[CC-Hunter]

An update:

While I was considering these coins and then out of town on a business trip the owner took the coins to a local coin shop that I know. The dealer offered $325 for the $5 indian, $675 for the $10 indian, $750 for the $10 liberty and $1300 for the 1927 $20 Saint. Those offers seemed really generous to me, but the owner strikes me as honest and I don't think any of this is made up. The value really comes down to grading, of course.

I am inclined to match the offers and buy all of them, other than the $20 Saint. Although the Saint is really nice, I could buy a 1927 Saint certified and graded MS63 for less than that if I really wanted one (see Apmex). On the other hand, the offered prices are probably below what I would have to pay retail for the $5 and $10 indians. The $10 liberty is intriguing. It is obviously a bit beat up, but I think it has a decent shot at a XF or even AU grade if I send it in, which would make a big different in value. A bit of a risk, but the $10 liberty could end up being a deal.

Am I way off here? I assume that at worst I am paying a slight discount to retail but have a shot at coming in a much better discount.

 

[coinsareawesome]

The $10 Liberty is only worth around $1000 in AU condition. If you pay $750, pay $50 to get it graded, then try to sell it, you wouldn't make any profit. If anything, it would just be a cool coin to hang on to.

 

[CC-Hunter]

A final update on these coins:

- I did not buy the double eagle - $1300 did not seem like a great price but I really did like the look of the coin, especially the reverse.

- I bought, but did not submit for grading, the $5 indian. I didn't think the price was bad, but given the wear on the obverse I also didn't think it would grade well. I had another $2.5 indian I bought a while back for a great price and it came back MS 61 (NGC).

- I bought and submitted for grading the two $10 coins. The 1911 was a bit of a disappointment at AU 58, but the 1853 was a pleasant surprise - it also graded AU 58.

- While I was at it I submitted a proof '64 Kennedy that I paid around spot for. It came back PF67 cameo.

 

[coinsareawesome]

The 1911 10 Dollar is only worth $750 in AU-58 condition. The 1853, however, is worth $2,250 in AU-58 condition. All in all, I think you made a pretty good deal.

 

[coinsareawesome]

Based on Frank's grade, the $5 Indian is probably worth $400-500. I would keep the $5 and $10 Indian together, as a set, since they both came from the same person.