Should this 1887 $10- Liberty head be graded?
Ppp
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I have a 1887 gold $10- Liberty head.
According to pcgs the mintage was 53,600 and survival estimate is only 625 in all grades.
My questions are:
-should a lower grade coin that has a small survival estimate like this one be graded?
-any comments on the grade?
-I am thinking it might be vf and if it is then would I be wasting my money grading?
1
Comments
These appear to trade at around fairly generic prices until they reach into the MS range. So, certification certainly wouldn't hurt liquidity, but it might not add that much value.
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It looks like it may have been cleaned and may not straight grade. It's not worth the cost of getting graded in my opinion.
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Always check Coinfacts on this site to see what the spreads are in various grades.
I am a firm believer in certifying gold if only for authentication.
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It is obviously a details coin but if you can get it in a genuine holder with a details grade I would. I just sent in a details 1854 $10 and got an AU details, Jewelry coin certified. It is rare in AU and its not bad but someday the buyer will know it is real.
Getting it in a holder will at least add liquidity IMO.
Quite a few people feel the same. However, there are so many buyers who are capable of determining authenticity and who pay fair prices for ungraded coins of this type, that having them graded isn’t really worth it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Do a price comparison for the likely slabbed grade and the market raw prices. Certainly authentication may increase liquidity slightly, but may decrease profit margin. Cheers, RickO
At least you don't argue if it is F/VF/XF. This coin has real problems but it is worth, IMO a grade point below the details. Therefore the detail grade matters. I would put that coin in an acetone bath and get that fuel grime off it before you send it in. back in the day it was a body bag, now at least you can get a details grade. A bath in acetone is not going to hurt it. Heck I bet it even smells.
The difference in value between a VF and an AU, for coins like the one posted, is less than the cost of getting it graded.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld
"The difference in value between a VF and an AU, for coins like the one posted, is less than the cost of getting it grade"
Tell that to your kids when you are dead and they are selling them. I would do it for their protection, not mine. $40 - so what.
I would want send in (too curious) to our hosts see what grade, etc. Confirm authentic. Then go from there - keep in inventory or liquidate (auction or shop around bourse). if it’s a details coin there are dealers who handle problem coins would take it and individuals who would need it to fill hole in their set, albums. Additionally big ticket coins like that being graded / authenticated makes it a much easier sell. $40 nothing compared to its BV alone.
CPG for VF 20 is $1160. At very least assuming authentic if you started it at melt on the Bay it should get bids.
From photo just don’t know but suspect cleaning.
Newer generation wants plastic. I’d slab it for sure.
You’re not adding any value with the coin in a most likely details holder. I would leave it alone. If you insist on having it graded for authentication purposes there are cheaper options besides PCGS. Six hundred survivors for most gold coins is considered a fair number and most gold collectors aren’t interested in dates from that period of time unless they are high grades.
Should this 1887 $10- Liberty head be graded?
I wouldn't. In that condition it's a bullion coin.
Yes, authenticate it as its gold, but it looks cleaned
What is your goal with the coin?
Do you want to keep it, sell it, etc.?
Thank you everyone for your comments.
The coin passed the diagnostics for weight, non-magnetic, and sigma. visually it looks authentic to me so I am confident it’s real.
I agree coins that are slabbed are easier to sell.
Originally I was thinking about keeping it and now after reading the comments I will probably sell it raw. Sometimes I get caught up with coins that have low survival estimates just from a rarity standpoint.
Although perhaps not cost-effective, if it were original and would straight grade, I personally would have it certified. I just like that kind of stuff certified.
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