Nice old US gold ($3, $5 CC's) *BREAKING NEWS*

[Nickelmeister]

Need some help here.
Any thoughts on grading?
Fair market value? Offers???

[daviscfad]

where is the 3?

[Nickelmeister]

Whoops, must have been chopped off!
Will repost in a bit

[daviscfad]

If real I would say 1000 a piece on the 5 dollar pieces uncertified. The three would probably be in the 6-700 ballpark if real. Not being certified

[Rodebaugh]

Authentic 1891-cc from coinfacts

[Market Harmony]

There is only a soft market for 91-CC's... more like $750-$800 raw. Tougher to sell for more $$$ when graded (I know, counter-intuitive)

I can't tell if the $3 is good or not... need high res pics. There are a couple PUPs for known fakes, but need better pics to see them. Otherwise, it looks to be OK, and AU at min... better to get this graded. Probably a $1300 coin

[Nickelmeister]

Based on where I got them, I'd bet the farm that they're definitely not fake.
Thanks for all the input guys, I am pretty happy with my purchase.
The little old lady who sold them to me probably has another $40-50K worth of old US gold coins.
No more $3 or CC's though...

[Nickelmeister]

All sold, thanks for looking

[daviscfad]

Someone got a nice set of coins

[fasTT]

They going in the melt lot you are sending to me?

[TXBullion]

Based on where I got them, I'd bet the farm that they're definitely not fake.
Thanks for all the input guys, I am pretty happy with my purchase.
The little old lady who sold them to me probably has another $40-50K worth of old US gold coins.
No more $3 or CC's though...

is this the same old lady that thogey talks about

[Rodebaugh]

Based on where I got them, I'd bet the farm that they're definitely not fake.
Thanks for all the input guys, I am pretty happy with my purchase.
The little old lady who sold them to me probably has another $40-50K worth of old US gold coins.
No more $3 or CC's though...

is this the same old lady that thogey talks about

I think I know the lady.....is it....

She just pile drove the old geezer’s corps into the ground, which is the best thing that ever happened to him, and is now off to sell his coins for pennies on the dollar.

[daviscfad]

It's the same little old lady that most gold buyers like to take advantage of. Glad one of the good guys made the deal

[Rodebaugh]

It's the same little old lady that most gold buyers like to take advantage of. Glad one of the good guys made the deal

+1 for her for finding one of the good guys.

[Rodebaugh]

One of the best threads on RC:

viewtopic.php?f=9&t=19089&p=178213#p178213

[Nickelmeister]

Breaking news: these coins turned out to be FAKE!!!

The good Doc made his diagnosis yesterday and at 6:35 pm pronounced our deal official dead

Chris has volunteered to post some educational photos and information to prevent other members for falling victim to this type of high quality fake.

[Thogey]

Ha!

So the old dead geezer has the last laugh.

The plot thickens. Did elderly old widow know they were fake?

[Rodebaugh]

Folks these are not your run of the mill fakes. These are gem dandys crafted of correct alloy with proper specs of weight and dimension. These coins were likely made years ago from later period US Saint double eagles.

Depressions next to the mint mark are give aways on the 91-cc’s. Both coins exhibit the same die markers throughout and even have similar simulated “bag marks”.


“Spikes” or die gouges are never seen (to my knowledge) on authentic period gold. This effect is a byproduct of careless die preparation by the bad guys. Shame too, I have this coin at MS-62 which would command a handsome price if it were authentic.


Moral of the story: Be careful. Know what you are buying. If you don’t know the coins buy them cheaply enough that the sting will not hurt so badly. Buy only from respected folks. That way if there is a problem it is handled in a professional way. Lastly, we all make mistakes. That’s part of the learning process. Our mistakes are only truly misfortunes if we do not walk away smarter and better in some way.

As a side note: Nickelmeister is very honorable and is a working poster child of TXbullion’s description of integrity. I have no reservations about dealing with him in the future. I rather welcome the chance as I know him to be of honorable character that places his own principles above profit. And folks, that’s something money can’t buy.

Keep building your skill set,
Doc Rodebaugh

Reference book: Us Gold Counterfeit Detection Guide by Bill Fivaz and Randy Campbell

[slickeast]

Mark, I hope you bought them at less than melt. Even though they fake, the still have gold value so you are not at a total loss

[68Camaro]

Those are a couple of serious fakes! I feel sorry for Nickelmeister - like Peter says I hope you didn't pay over spot. But way to go Doc for spotting this level of detail. That's way above my coin pay grade.

[Nickelmeister]

I paid well over spot. After cherry-picking the old lady's dead husband's collection for CC mint marks at MS grade $3 coin, it was the right thing to do.

I will get hurt on this transaction financially, but I am glad that I ended up passing them on to someone with the knowledge to identify them as what they are. They will be melted and taken out of circulation. Chris has been very understanding and it was a learning experience for everyone!

[TXBullion]

I paid well over spot. After cherry-picking the old lady's dead husband's collection for CC mint marks at MS grade $3 coin, it was the right thing to do.

I will get hurt on this transaction financially, but I am glad that I ended up passing them on to someone with the knowledge to identify them as what they are. They will be melted and taken out of circulation. Chris has been very understanding and it was a learning experience for everyone!

Very admirable and I figured this would be the case.

[Market Harmony]

Sorry to hear about the authenticity... would have been a brighter day for everyone involved if they were real.

When there are questions of authenticity, I decided a while ago to never put my money on the table. I've been burnt just like this particular deal, but I've also come out ahead. Raw coins are risky. There are ways to reduce the risk. Rodebaugh explained a key element to buying raw coins... education. But, please also consider this:

In order to keep me in the deal, I will offer to have the coin graded at no cost. If the seller declines, then I'm at no loss. If the seller accepts, then we agree on a sales price and submit the coin. After this, I take on the liability of grading fee only, and have the upside of numismatic premium... it's a little like buying options. If the coin comes back bad, then I'm out a grading fee (part of business), and if the coin is good, then I pay the agreed upon price and have a professionally graded coin, with no future doubts of authenticity, and something which should sell more easily at a higher price.

Some sellers want immediate payment. Usually, that is a red flag.