Antique Gold

MAT1 · June 21, 2011 9:41AM

I did entertain the idea to bid on it..........for about ten minutes

Antique Gold

GaCoinGuy · June 21, 2011 9:53AM

There's 3 or 4 brave enough to do it. Not me though. Some nice coins though.......if they're real. I'm no expert and wouldn't know where to start looking.

llafoe · June 21, 2011 9:53AM

Now I know why it took you 10 minutes to think about it... it takes 10 minutes to view it!

Nice lot... how many are cast?

coinkid855 · June 21, 2011 9:57AM

Holy crap that's a lot of gold. Quite a few of the coins look "off" to me though...

-Paul

keyman64 · June 21, 2011 10:08AM

Wow, that's a pile!

epcjimi1 · June 21, 2011 10:17AM

Perhaps the seller's silver offerings are more for the liking -

"World Mostly SILVER Coin Collection Lot 490+ Pounds", currently @ 27,100, RNM

"US Old Coin Collection Silver Rare HUGE 1,000 Pounds", currently @ 53,100, RNM

Lots of comic books, too!

MAT1 · June 21, 2011 10:51AM

<< Now I know why it took you 10 minutes to think about it... it takes 10 minutes to view it!

Nice lot... how many are cast? >>

232 gold coins

AnkurJ · June 21, 2011 11:04AM

He is local to me. I should go take a look at them.

jonathanb · June 21, 2011 12:05PM

I'd bet that many of those are real. Quite a trick to come up with a bid based on a guess of which ones are and which aren't, though! Gotta be about $600 face (I started counting, then got tired).

AnkurJ · June 21, 2011 12:06PM

You can bet that local NJ dealers are all over this collection.

stealer · June 21, 2011 1:37PM

The 1804 halfway down the page looks strange

GoldenEyeNumismatics · June 21, 2011 2:15PM

A huge pile of problem coins.

CircOnly · June 21, 2011 2:21PM

Anyone who tosses this amount of money on raw gold on Ebay should have their head checked.

morgantype · June 21, 2011 3:04PM

Notice that the auction states:

All coins guaranteed to be 100% gold (he didn't say authenic US coins)

so, theoretically there could be some fakes, albeit made of gold, but not numismatically authentic.

If I had that kind of cash to throw down, and I was drunk, and I had just been divorced, and I had a gun to my head, etc. I would bid on the GOLD CONTENT only, and if some are real, yay! I win some!

crypto79 · June 21, 2011 9:54PM

most of those if not all are real, now for the problems there are a bunch.

BillJones · June 21, 2011 10:11PM

<< A huge pile of problem coins. >>

Yea, that was my reaction. It's rare to see, but there are actually a couple of early (pre 1834) U.S. gold coins in there that are not worth much more than melt. As a person who now not sitting behind the table at shows any more, I would not want try to market that stuff. Right now the bid on it is something over $220 per coin.

Edited to say - I just saw the note "NJ residents must add 7% sales tax." OUCH! What a bummer! New Jersey does not have the $1,000 gross invoice rule in their sales tax system ???

That would kill coin shows there for me.

AUandAG · June 21, 2011 11:59PM

Three of the $5 CC's look like counterfeits to me. Two 93's and a 91 appear to have an incomplete motto ribbon
on the reverse. Indicative of a fake. Not seen on the real deals that I'm aware of. However, I'm not the expert
yet on these little gold babies!

The sad part is that there is an owner or his heirs to this box. But the bank is under no obligation to find them.
If the box goes unpaid they are allowed to sell the contents and transfer the funds to the State coffers for
eventual payment to any heirs that are found. But, then the heirs get the cash not the coins.
Shame. I'll bet they have already been sold by the bank and this guy is representing the bank employee that
bought that box. (yes, I'm accusing someone of deceit and theft). Perhaps not, but it happened just as I said
to my Aunts box which also contained gold coins and Exxon stock (before it was ExxonMobile). The gold coins
were legally sold to a bank employee for their face value. Then the bank turned the funds over to the State of
Washington and we ended up with the $800. My Aunt was never married but had plenty of relatives and in fact
my Mother was appointed, by the court, as her guardian when the dementia got so bad. Before she was adjudicated
and put in a home she was robbed blind by her neighbors. We all thought that the gold coins (she worked for the
bank that had the box (different branch) had been stolen. We had no idea she had that box until some twenty
years later when the State published one of those "lost items" lists and I happened to spot her name. Took some
three years to prove to the State that my siblings and I were her relatives. Jumped through a lot of hoops. The
state did provide us with an inventory but indicated that it had all been sold 5 years after her box went unpaid.
We did not get an inventory of the dates and denominations, just the face value.
So, I'll bet that the heirs of this box can be located. Probably not difficult to do either.
bob

crypto79 · June 22, 2011 12:36AM

I think it will take some work and outlay of cash but I think there is going to be some money to be made assuming the Reserve isn't carzy retail to start with. If the seller left some money on the table and sold the group for 1.25x melt I think they would find a ready buyer.

chieftain1 · June 22, 2011 12:42AM

There are many pieces which are of dubious distinction...........therefore, because the seller is not selling these as genuine coins.......only "genuine gold"......why would you bother ? Seems as though I would rather have the dollars that it would take to buy this sunk into a PCGS CAC-stickered rarity. This appears to be a good marketing outlet in order to filter problem and fakes out the door.......IMO.

streeter · June 22, 2011 12:50AM

<< There are many pieces which are of dubious distinction...........therefore, because the seller is not selling these as genuine coins.......only "genuine gold"......why would you bother ? Seems as though I would rather have the dollars that it would take to buy this sunk into a PCGS CAC-stickered rarity. This appears to be a good marketing outlet in order to filter problem and fakes out the door.......IMO. >>

this

TheBigB · June 22, 2011 1:12AM

<< Discovered in a unclaimed safe deposit box at Chase Manhattan Bank lifetime hoard of gold coins >>

things that make you go hmmm

chieftain1 · June 22, 2011 1:15AM

To clarify my previous reply..........here is my take on this situation. What if I asked you to bring me all your counterfeit / problem / holed and jewelry gold coins.........coins worth melt or less. I then would assemble all these pieces and list them on eBay claiming they were found in an unclaimed safety-deposit box / grandpa's closet or otherwise. For your "contribution" I would guarantee you melt value of the gold PLUS a percentage of the extra profit realized by virtue of the sale (guaranteed because of the unknown RESERVE amount) based on your "contribution" percentage of the total gold weight. Would you agree this is an easy and unethical way of filtering your counterfeits through the market ? What do you have to lose? In my opinion, these coins were not "discovered" at all............they were "assembled".

Banemorth · June 22, 2011 2:22AM

Worth melt at best. There is a ton of work that would have to go into sorting through that collection and trying to authenticate each piece.

BillJones · June 22, 2011 3:07AM

I agree with those who feel that there is a good possibility that this is not an old safety deposit box hoard, but a group of damaged gold coins that have been put together to sell. As such it might be a great marketing stroke if the bidding goes viral.

As for the coins, a mess to catalog, a mess to sell one at a time and generally a deal that I would not find to be worth the effort.

coindeuce · June 22, 2011 5:21AM

At least one coin is represented twice with the same image. The 1847-O Eagle.

lkeigwin · June 22, 2011 5:42AM

Wow. That's going to be some ebay fee if it sells. I wonder what the reserve is.
Lance.

robkool · June 22, 2011 8:19AM

What is the reserve ??? I won't pay no more than melt for this gold lot.

crypto79 · June 22, 2011 8:24AM

I think people are kidding themselves if they think 1907 HR and late date CC Double Lib are only worth melt. There are valuable pieces there and it will go for more than melt. The wind breaks favorably and 10-20% grade, the other big ones make gen holders and the rest gets grouped and sold for melt in common man affordable ebay lots and there is money in that group. I sense a lot of sour grapes on the forum today

TheBigB · June 22, 2011 8:40AM

<< I sense a lot of sour grapes on the forum today >>

Sour grapes? You won? Congratulations.

BillJones · June 22, 2011 10:19PM

<< I think people are kidding themselves if they think 1907 HR and late date CC Double Lib are only worth melt. There are valuable pieces there and it will go for more than melt. The wind breaks favorably and 10-20% grade, the other big ones make gen holders and the rest gets grouped and sold for melt in common man affordable ebay lots and there is money in that group. I sense a lot of sour grapes on the forum today >>

The High Relief is probably worth $5,000 to $7,000 if it is genuine. It could be a beat up Omega copy. I'm not an expert in CC gold. I can't comment on that one although double melt would be too low. I'll stand by my statement however that the badly worn early gold coin with not much left on it is really worth melt on a wholesale basis. Now if you can find a desperate collector who really wants a hole filler, that could be another matter.

Antique Gold

Comments

Leave a Comment