What would you pay for this $3 coin?
Halfpence
Posts: 459 ✭✭✭✭
Based on these pics alone. Please explain your rationale, if you would. 
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Halfpence
Posts: 459 ✭✭✭✭
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I would not buy it but maybe $600-650ish
Counterfeit. I'd have to check to see if it's gold and the fineness or gold plated before I decide what to pay for it..
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I wouldn’t pay anything for it. It looks counterfeit and I wouldn’t want it, regardless of its gold content.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Denticle issues? If so, not possibly repaired/ex-jewelry?
Or the floating stem to the left of the date? Or something else?
I would pay zero. Not genuine. Struck from bad dies. The weak lettering and denticles along with soft point area of bust are all tells.
RIP Mom- 1932-2012
This.
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$3….you did say it was a $3 coin
If you could get it for less than melt value, you could deface it and take it out of circulation and then throw it in the melt bucket with other scrap gold for the refinery.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Alright, it appears there’s consensus. Thx for the feedback.
So how does someone like me, who doesn’t have experience with these coins, search for a raw coin that is real?
Buy from a reputable dealer or buy coins that are slabbed by one of the major grading services.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Not interested in a slabbed coin.
An inexperienced collector buying raw gold is asking for trouble. If you don’t want a slabbed coin, then just buy one (so you know it’s real), and crack it out.
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
Then crack it out.😉
Or, as already mentioned, buy from a well known, reputable dealer.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
There's a raw coin inside every slab.
Crack it out.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
There’s also a premium attached to every slabbed coin. Thx again for the feedback.
If you are not interested in a slabbed example of the $3 gold then you should drop it from your want list. $3 gold coins were heavily counterfeited during the 1970s and 1980s. Raw examples are always going to be suspect when it comes time to sell.
It's rare that I ever see a raw $3 gold coin. The few raw ones that I see are either fake or have problems that preclude them from being slabbed with a straight grade, usually damaged from use in jewelry or harshly cleaned..
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It is counterfeit, but probably ok gold content.
I would want to test it for gold content before I would buy it.
@Halfpence Look at lots of real gold coins in slabs until you feel comfortable with what the real deal looks like.
Then you could buy a nice genuine raw gold coin.
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That’s helpful. I may need to rethink this.
Got it.
The thing I most like about these older coins is how it connects you to history, which in my opinion, is best done when you can hold the same item that someone else did 150 years ago. Alas, fraud is forcing me to think about slabs.
I'm going to dissent with the inference that most raw $3s must either have an issue or are counterfeit. There are still a lot of old school collections out there in Capital holders, albums etc. where the owners simply haven't thought about slabbing because they like the look of their display etc. or didn't want to mess with it for whatever reason. We bought such a collection last year...
RIP Mom- 1932-2012
I think you'd be more likely to find a raw genuine piece in a collection of raw coins than you would buying a single coin offered raw for just that reason.
I was referring to coins for sale. Most dealers who buy raw $3 gold coins from old collections will get them slabbed before they offer them for sale.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
An ANA article that discusses the benefits of slabs.
Authenticity was one of the factors. As a relative novice, I found the other two reasons to be valid, as well.
This! I have a $3 Gold on my want list for a Box of 20. I will only entertain purchase of an Authenticated piece... doesn't have to straight-grade, although that would be nice... but it does have to be real and I'm admittedly out of my depth when it comes to recognizing counterfeits of this particular issue.
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Sorta like a condom.
Buy a slabbed example and crack it out. Consider the additional cost as an insurance policy that lets you connect with history without worrying about the coin's authenticity.
For $3 yes I'd put in said gold box along with the 50 peso gold plated cast aluminum example.
I picked that one up just to see how or why it was as if not seen one before made from a lighter material.
Previous owner claims to know nothing about it.
I had him do a few tests and I bought it for more then it was worth just out of curiosity.
Cheap gamble.
Pocket conversation piece till you tire of or lose it
Nice filler for someone building a type set.
I would stay away from raw, early gold coins like that. Knowing they were extensively counterfeited, and often little or no gold... Just not worth the gamble. Cheers, RickO
Not even $3.00 as it looks porous which makes it a cast counterfeit, as struck gold coinage even when sea salvaged is inert to environmental damage.