Coin show dilemma and NWCC mini report - what would you do?
hchcoin
Posts: 4,829 ✭✭✭✭✭
Went to the Minneapolis show yesterday and sold a bunch of coins and bullion and did some trades. The NWCC Show is a 3 day show with 100+ tables.
I did a deal with one of the dealers and he gave me the option to trade for a nice BU 1/2 ounce gold eagle or a graded 1/2 ounce MS69 gold eagle with a ring of copper around the obverse for the same price. I actually chose the ungraded coin because it had little discoloration and I couldn't get past the ring of copper color. As I sit here today, I can't stop thinking about the deal and going back and forth in my head.
Should I have picked the graded coin with copper ring of toning or brilliant ungraded coin? Here is the ungraded coin.
What would you have picked and why? All comments welcome.
As far as the show is concerned, all the dealers I talked with seemed very happy with the attendance on opening day. The parking lot was full when I got there 2 hours after opening. I noticed a lot of beautiful, ungraded bust coins for very reasonable prices compared to a few years ago. I really like smaller and medium size shows because you can find some raw treasures. I didn't pull the trigger on any bust coins but was very tempted based on the prices.
I have met some of the most honest and friendly dealers at this show and that is what keeps me coming back. I know I will be treated fairly and that means a lot to me. I sat with one of my favorite dealers for about 20 minutes making a deal and he explained his reasoning on every group of coins and why he was paying a premium or not. It made the deal so easy and a pleasure.
I traded for this generic gold since the premiums are right.
I did buy 2 fish knives 
I think I like them as much as the gold.
Comments
I would have taken the certified gold. One reason being that the ring of copper doesn't sound unattractive to me and you may have been able to find a buyer for such a coin at a slight premium. Additionally, if it were certified by NGC or PCGS then the pool of potential buyers for the gold coin might be larger than for an uncertified piece where some folks might worry about authenticity.
In honor of the memory of Cpl. Michael E. Thompson
Sounds like you enjoyed the coin show and btw, nice coin and knives! Raw coins are a huge challenge from dealers you are not used to dealing with or know their level of honesty.
If it's the same price it would be a no brainer for me. Graded in a holder
Lafayette Grading Set
Unless you plan on putting in an album or set, I would have taken the graded one. It is guaranteed authentic and color adds to value, unless truly ugly.
Eye, appeal, whichever had the better eye appeal. When dealing with germnic, bullion gold, the difference is nothing to fret about.
If you atgtend the show tomorrow (Sunday), stop by my booth (Tabler, #4, Greg Allen Coins, LLC, and I can show you examples of what I mean by eye appeal.
Thanks for the show report.... as to the choice you presented.... I would lean to the graded coin, though the ungraded does look nice. The determining factor (not possible in a forum discussion) would be the 'in hand' evaluation and whether I trusted (prior knowledge/experience) the dealer. Those would be the final determining factors in the decision. Cheers, RickO
Now I know I really screwed up when @ricko is telling me to buy the one with color
Thanks for the responses everyone. When I was sitting there making the decision I just liked the ungraded one better based on looks. I don't know what it was, but I just went with my gut. 99 times out of 100 I would have taken the graded one as everyone stated here. I wish I would have snapped a picture with my phone to show the difference.
Does graded gold bullion in 69 really sell for much of a premium? Is it more of a liquidity thing that makes it easier to sell the coin?
Well...as I said, the final decision would have to be made in person....for general commentary decisions, I lean to the graded gold for authenticity....
Cheers, RickO
hch, you saw both in hand side by side. Your gut was not wrong.