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Back in December, I was picking up a few lots of miscellaneous silver coins from eBay. Came across one auction of $2.60 face value of old silver U.S. coins of good or worse condition. The lot contained, in his words, "one old U. S. Dollar, two fifty cent pieces and six dimes all from an estate." However, I noticed that the dollar coin in the auction sure didn't look like silver. Appeared more to me to be a large copper cent. So I emailed my concern to the seller.

He admitted that he was uncertain of of the dollar coin, and that it might be an old penny. So to bring the face value of the auction back up to $2.60, he threw in a 1963 Franklin half dollar and a 1964 JFK half dollar. I thought I had nothing to lose and bid away. I won the auction for $54.00, which was actually below the melt value of the identified silver coins. Good deal, says I. Already ahead of the game.

So a few days later the package arrives in the mail, and of course, I set out trying to identify what the mystery could be. It was in pretty bad shape, worn mostly smooth. However, you could see the shape of Lady Liberty's face and bust, and the words LIBERTY were legible on her brow. I started paging through my Photograde book in the large cent section, but none of the women matched the shape on my coin. Plus the coin was bigger than any of the large cent holes in my Dansco U.S. Type Coin album. So I turned to half dollars, nothing matched. Then silver dollars, even colonial coins, nothing. I kept going through my book, very confused on what this could be. Turned the last section and there was the Lady Liberty outline I was looking for: 1849-1854 Liberty Gold Dollar Type 1.

GOLD! And the very first gold dollar produced by the United States at that!

Now the melt value (which due to condition may be all it is worth) is only about $80, so not the biggest gold strike in history, but I was pretty excited! Pictures from the eBay auction (before and after he added the two half dollars) are below. Could you have identified the hidden gold in this auction?

ummmm... sit down. That does not look like a $1 gold coin. That looks like a $20 gold coin... melt value of $1610 in new condition... yours might be about $1500

How much does it weigh?

Yeah, that looks way too big to be a one dollar coin. Wow!

Sure does look like a Liberty Head Double Eagle. A gold dollar coin is smaller than a dime. If it is indeed a $20, wow, what a find!

Whoa! I think you're going to look a lot like your avatar when you find out.

i looks like a double e to me
wow if it is just wow

All I have to say is... . Congrats!

Wow that is sick

thats awesome I love hearing about things like this

I was looking at one of the cruddy looking dimes when I read gold dollar because that would be the size. I agree that the big coin is a $20 double eagle.

mutiger

I'll take that penny off your hands for $5. Wonderful score.

Let me just say WOW. I was not expecting this sort of a surprise on top of a surprise! I only own one other gold coin, a gifted 1881 Half Eagle from my wife's grandmother, so did not even think that the size was too large to be a gold dollar.

However, before I get too excited, I want to make sure just what this is. I weighed the coin and my digital postage scale comes up with 15 grams, which seems closer to the weight of a Gold Eagle (16.718 grams). From what I read the Double Eagle should weigh 33 grams. The diameter is 33 mm, which seems close to the standard diameter for a Double Eagle of 34 mm, and too large to be a Gold Eagle. Hmm.

I am attaching scans of front and back below. For scale, you may refer to the scans above in relation to a half dollar. What is the verdict? Eagle or Double Eagle?

Dunno, but from the photo, as worn as it seems to be, it wouldn't surprise me if >half the weight was gone. There is virtually nothing left of the reverse, and the obverse is barely there. That weight would make it more like a $700 coin, but still, sweet.

68Camaro wrote:Dunno, but from the photo, as worn as it seems to be, it wouldn't surprise me if >half the weight was gone. There is virtually nothing left of the reverse, and the obverse is barely there. That weight would make it more like a $700 coin, but still, sweet.

Yes... if you really wanted to verify that it is what we think it is, then contact me through email: sales@marketharmony.net

I have a machine that can verify, within parts per million, the actual metal composition of the coin. At this time, because of the specifications that you listed, I am skeptical that it truly is a $20 Gold Liberty coin. It could be anything right now... but one way to get more information about it will be to have it tested in a nondestructive manner. I have an X-ray Spectrometer that can test your coin, and I will do it for free, basically. If you want to, then send the coin to me along with payment for return shipping. I will then test it and verify the gold content. If it is a $20 Lib, then it should be 90% gold. My equipment will not damage or alter your coin in any way. But I think it would be cool to verify your potentially HUGE find.

Why not just take a scratch and test it.

Why would anyone be concerned about altering the coin.

You may as well beat it up into a little ball and test it.

It's worth melt.

Thogey wrote:Why not just take a scratch and test it.

Why would anyone be concerned about altering the coin.

You may as well beat it up into a little ball and test it.

It's worth melt.

OK, I'll melt it, then test it... same cost

Thogey wrote:Why not just take a scratch and test it.

I agree. Scratch it so that you reveal the shiny gold below. In my opinion, and I am no expert, but that is a Type 3 Liberty Head Double Eagle (1877-1907).
Again, way to go dude!!

wow... Go ahead and scratch the heck out of that coin.. use a brillo pad or a grinder

A find like this would be reason enough for me to get a gold testing kit. You just rub it on a stone, right?

tractorman wrote:A find like this would be reason enough for me to get a gold testing kit. You just rub it on a stone, right?

oh geez...

Let me paraphrase the one law of cleaning coins:

"The first rule of scratching a coin is don't scratch a coin."

looks like brass.

uthminsta wrote:Let me paraphrase the one law of cleaning coins:

"The first rule of scratching a coin is don't scratch a coin."

Where does "beat it into a little ball" fall? Thanks for that one btw Thogey, it gave me a chuckle.

Really, that coin I wouldn't worry about scratching. I get the impression that its worth melt value only. Why not test it? And how hard can it be? I saw Chumlee do it on Pawn Stars the other night.

If there is a big difference in difficulty between testing 10kt and 90% gold, I'll have to admit my ignorance on the subject. But I'm always looking to learn something. Does anyone have a link for a good procedure for gold testing?

If it is proven to be gold, preferably by means such as mentioned/offered by Market Harmony, I would be willing to pay more than melt for it.

uthminsta wrote:If it is proven to be gold, preferably by means such as mentioned/offered by Market Harmony, I would be willing to pay more than melt for it.

Right on. And a quick search provided my answer, as well as the justification for MH's comment.

Testing For 20K & 24K
Scratch the gold piece on the stone. Next, scratch any item of known karat (coin or needle) on the stone. Apply one drop of acid to area. The material that starts to disappear first has the lower karat.

So all I would have to do is scratch my known 90% gold coin to compare the test with this coin. No thanks!