Tuition Coin? 1926 Indian.

Metal

This is the first gold coin I purchased on ebay several years ago.
Looking through my email it was sold as
"$10 1926 Indian Head Gold Eagle Slider AU-BU"
Am I really looking at a details grade coin that has no chance of straight grading or what?
If it matters, I have right around $500 into it.

csdot

Have you weighed it because $500 is an almost too good price.

As for grading, the coin looks chewed up. Plus 1926 is the 2nd most common date, so wouldn't stress about upside from a grade.

thefinn

Looks like someone lost a knife fight, or needs to get an electric razor.

Swampboy

Good thread title.
👍

Metal

I cashed in some ebay bucks., They sold the coin for $739, I paid $abou$500 out of pocket.
I'm just not sure if it's been cleaned, or are those bag marks or what???

PerryHall

Looks real but heavily bag marked. If I bought that coin for what you paid for it, I would be a very happy camper.

Jimnight

MFeld

There’s no good reason to pay to have that coin graded. The value would be about the same, whether it received a details or straight grade.

Based on the images, it looks genuine and in hand, many collectors and dealers could determine its authenticity in a few seconds.

ricko

That gold coin appears authentic, but a stacker, no sense in slabbing it. You got it for a good price for sure. Cheers, RickO

messydesk

If a roughly 1/2 oz. gold coin cost you $500, it's not a tuition coin.

abcde12345

@Jimnight said:

291fifth

Looks genuine but it is a really beat-up coin. Not worth slabbing. I'd sell it as bullion and get my money out of it if it were mine.

Pedzola

Nice bullion coin. "Several years ago" the price paid may have been more representative of something higher end, but gold price has increased relative to usd over time, so you should now be able to sell it for more than you paid, even as a "details" coin. I say trade up to a nice ms63!

jwitten

Really you have $739 into it... ebay bucks still count as real money.. you could have spent it on necessities, etc. But you did alright. These hardly ever go for just melt. Nice coin!

asheland

You did well, I wouldn't bother slabbing it, it's worth the same either way...

SimpleCollector

It was a learning experience. I remember buying raw Indians for $700 a number of years ago, so your cost basis sounds right. From my LCS experience, generic Indians in xf/au type condition can be gotten for melt plus 10% , but that price is hard to find. Today, you could find many that are slabbed online for $1150 -1300. Melt for $10 indian, looks to be $891 tonight. So you should be able to get that +-5% pretty easily. So due to the rise in gold , not really tuition, but a learning experience. If you want a nicer slabbed one, sell the one you have, invest $300 more and pick up a nice ms61-63.

If you had bought slabbed back then, it would’ve cost you $200 -$300 more then top what you paid.

The condition of yours doesn’t look overly attractive. You got a genuine indian for slightly over melt. If you want nicer coin, sell it for melt and pick up a slabbed one. I searched a few of the sights I follow , and didn’t see many at the low end of the price I mentioned, but One example I found to show you a comparison is at JJ Teaparty . They have a 1926 ms62+ for $1250.

jesbroken

So you paid ebay bucks and $500. Were the ebay bucks $239? If so, your cost was the ebay bucks plus the $500. If you actually got it for a total of $500. Wow, great deal.
Jim

Metal

Thanks for the advice, everyone. I'm going to sell it and get a better coin.
Re: eBay bucks being 'real money.'
My company purchases quite a bit on ebay and other more traditional vendors. The ebay bucks I accumulate aren't from personal spending. Same with the Amex points I earn on reimbursable spending.
A nice fringe benefit of my job.
One thing I've noticed, once you notify ebay that an ebay account is tax-exempt, they turn off the bonus bucks spigot.
Effectively putting an end to my easy, tax-free bonus bucks.