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old gold

PostPosted: Sun Oct 24, 2010 7:07 pm
by Lemon Thrower
i picked up some old gold this weekend from a long time acquaintance at a little under melt.

indian $2.50 gold, $5 liberty, and $20 liberty.

one of the 5's might be XF but the others are VF at best.

what sort of premium do these get over melt?

Re: old gold

PostPosted: Sun Oct 24, 2010 8:55 pm
by Country
Dealer to dealer on $20 Liberty XF is spot+$70, VF goes for spot+$55

Dealer to dealer on $5 Liberty XF is spot+$45, VF goes for spot+$30

Dealer to dealer $2.5 Indian XF is spot+$100, VF goes for spot+$70

Getting clean, undamaged, old GOLD near melt is a nice find.... :mrgreen:

Re: old gold

PostPosted: Sun Oct 24, 2010 10:17 pm
by rakattack
Careful, I'm assuming that they're not slabbed and they're VERY commonly faked. Get them checked by a dealer as it is very probable that you have fakes.

Re: old gold

PostPosted: Mon Oct 25, 2010 5:26 am
by Lemon Thrower
Country, thanks a lot.

Rak, they are not slabbed but common dates with genuine wear.

country, are you a dealer or just quoting the grey sheet? do you know what the Good values are dealer to dealer?

Re: old gold

PostPosted: Mon Oct 25, 2010 7:07 am
by Country
Lemon Thrower wrote:Country, thanks a lot.

Rak, they are not slabbed but common dates with genuine wear.

country, are you a dealer or just quoting the grey sheet? do you know what the Good values are dealer to dealer?



No, I'm not a dealer. I used an extrapolation of the "Common Traded US Gold" section of the following website. It's comprehensive giving dealer prices based on spot.

http://www.coininfo.com/

Re: old gold

PostPosted: Wed Nov 17, 2010 3:40 am
by Market Harmony
Lemon Thrower wrote:i picked up some old gold this weekend from a long time acquaintance at a little under melt.

indian $2.50 gold, $5 liberty, and $20 liberty.

one of the 5's might be XF but the others are VF at best.

what sort of premium do these get over melt?


10-15% back of Greysheet bid for acceptable grades is typical.

Regarding the fakes out there... yes, there are some, but they are certainly not the majority. Some are good fakes, and others are pretty easy to tell. Make a note sheet of what each denomination should be in weight, diameter, and thickness. Take a scale and calipers to any deal until you can discern fakes by looking at them with a loupe. Even if they are fake, they are commonly made with gold anyhow. So, if you are buying based on gold price, then you theoretically have a very good chance of getting a good deal.

Re: old gold

PostPosted: Thu Nov 18, 2010 12:06 am
by rakattack
Market Harmony wrote:
Lemon Thrower wrote:i picked up some old gold this weekend from a long time acquaintance at a little under melt.

indian $2.50 gold, $5 liberty, and $20 liberty.

one of the 5's might be XF but the others are VF at best.

what sort of premium do these get over melt?


10-15% back of Greysheet bid for acceptable grades is typical.

Regarding the fakes out there... yes, there are some, but they are certainly not the majority. Some are good fakes, and others are pretty easy to tell. Make a note sheet of what each denomination should be in weight, diameter, and thickness. Take a scale and calipers to any deal until you can discern fakes by looking at them with a loupe. Even if they are fake, they are commonly made with gold anyhow. So, if you are buying based on gold price, then you theoretically have a very good chance of getting a good deal.


Good call Michael, however, there are probably more fake rare/gold coins on the market on any given day than the amount originally minted.

Re: old gold

PostPosted: Thu Nov 18, 2010 6:39 am
by daviscfad
the good thing about fake gold coins is most are still gold. it is better to have the gold coins slabbed for authenticity. the made a lot of fakes in the 1950's

Re: old gold

PostPosted: Thu Nov 18, 2010 10:28 am
by Lemon Thrower
what does it cost to get coins slabbed?

Re: old gold

PostPosted: Thu Nov 18, 2010 11:38 am
by Devil Soundwave
Depends on whether or not you want them to be legit or not. I gather you can now buy blank slabs for a few bucks online from China, leading to easily made knock-offs thus making "graded slabbed" coins a potential death knell for the trusting as they may naturally assume they are legitimate.

For legit stuff:

http://www.pcgs.com/grading_list.chtml

http://www.uscoingrading.com/fee_schedule.html

Re: old gold

PostPosted: Fri Nov 19, 2010 1:07 am
by rakattack
Devil Soundwave, you are spot on about PCGS. However, you are miles in the wrong direction to submit to the second link. I've never even heard of them before.

LemonThrower, hit up NGC too, they are also a very respected TPG

Re: old gold

PostPosted: Fri Nov 19, 2010 10:26 am
by Rodebaugh
Lemon Thrower wrote:what does it cost to get coins slabbed?


With shipping and grading fees.....about $20 on the cheap side....best to buy already slabed coins most of the time......cost more but removes the gamble.

Re: old gold

PostPosted: Fri Nov 19, 2010 10:31 am
by Devil Soundwave
rakattack wrote:Devil Soundwave, you are spot on about PCGS. However, you are miles in the wrong direction to submit to the second link. I've never even heard of them before.

LemonThrower, hit up NGC too, they are also a very respected TPG


Doh, sorry. I knew there was PCGS and another one - Googled and figured that was it.

Guess not!

NGC it is then. :)

Re: old gold

PostPosted: Fri Nov 19, 2010 12:33 pm
by rakattack
Devil Soundwave wrote:
rakattack wrote:Devil Soundwave, you are spot on about PCGS. However, you are miles in the wrong direction to submit to the second link. I've never even heard of them before.

LemonThrower, hit up NGC too, they are also a very respected TPG


Doh, sorry. I knew there was PCGS and another one - Googled and figured that was it.

Guess not!

NGC it is then. :)

I was wondering what you were thinking :lol:

Re: old gold

PostPosted: Fri Nov 19, 2010 12:39 pm
by Devil Soundwave
We don't really go in for slabs so much here in the UK. There is one good grading service here, but all the same, the fervour for graded coins is really driven by the US - coin collecting is a much bigger deal in the USA (and Germany) than it is in the UK.