1879$10 gold question

08HALA20

Hi all,

Someone I know began working in an auction company and they had thier first auction last night. I asked her before to let me know if they
ever come across any coins.

She told me today that someone brought in a 1897 $10 gold coin in ef-40 condition ungraded I believe, she wasn't sure if it was graded or not. She said the seller would take $250 for it.

I know almost nothing about gold coins.

Is $250 reasonable price?
How much gold is in one of these?
Are thier fakes to watch out for.
Should one buy certified gold only?


I know lots of questions.

Thanks in advance for the help.

Rookie Joe

Jaywalker

The $10 Liberty contains .48375 ounce of gold. So with gold at, say, $435 an ounce, the 10 Lib contains about $210 worth of gold.

I have heard that 10 Libs have been counterfeited, but I haven't heard or seen much about common date 10 Libs being counterfeited. Not sure if it would be worth the effort for a counterfeiter. Other members probably can tell you more about that risk.

As far as the price, I have been buying these for about $225 to $235 or so at shows. If you live close to a city where shows are held, you can probably get a better selection and possibly even a better price at a show.

RYK

There are tons of fakes. It is a common date. In circ condition, it is not worth much more than its bullion content, about 1/2 ounce of gold. I would probably pass. If one is not sure what one is doing, he/she should only buy certified gold or gold from a seller who will back up the purchase.

08HALA20

"If one is not sure what one is doing, he/she should only buy certified gold or gold from a seller who will back up the purchase."

Just what I was thinking RYK.

Joe

PerryHall

If I were you I would hold out for a nice high end AU piece. They only cost a little over melt for the common dates.