1882-O $10 Gold, GTG and did I do OK??

Schultz24 · January 26, 2015 6:12AM

I bought this for $710 recently. Seems like a decent deal being a fairly low mintage date and decent condition. What would you grade it and what value would you expect to see on it out in the market? Thanks, I guess trying to justify my impulse buy, but at only about $100 over spot, I'm feeling fairly decent. Thanks for your inputs!!

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Boosibri · January 26, 2015 6:16AM

AU50 if straight graded. I'd guess AU details.

CaptHenway · January 26, 2015 6:33AM

AU details. Too bad about the scratches.

CharlotteDude · January 26, 2015 6:57AM

I'd go AU50 wear-wise, but in a details holder due to damage.

'dude

291fifth · January 26, 2015 7:12AM

AU50 details ... ugly obverse. I wouldn't have even paid spot for it. Sorry.

ricko · January 26, 2015 7:26AM

AU details....maybe spot...no more... sorry.. Cheers, RickO

BustCuds · January 26, 2015 7:32AM

AU Details, Would have paid spot....otherwise would have passed.

s4ny · January 26, 2015 8:03AM

I like it better than the commenters so far. I cannot discern if it is "details" or not from the pictures.

Enjoy the coin.

DennisH · January 26, 2015 8:06AM

AU details scratched or damaged.
Such coins are not my cup of tea.

DaveG · January 26, 2015 8:12AM

I also think it's a nicer coin than previous commenters.

Doug Winter ranks it 5th in rarity of the 16 with-motto NO eagles, with an estimated 200-250 survivors, of which he estimates 42-52 are AU.

Regarding the surfaces, he says: "The surfaces are nearly always very heavily abraded. Of the three New Orleans eagles struck in the first part of this decade, the 1882-O has the worst quality surfaces and it is not uncommon to see examples that are riddled with deep abrasions on both the obverse and the reverse."

If it's in a "no problem" AU slab, then I'd say you did good.

Timbuk3 · January 26, 2015 8:14AM

Sweet !!!

Schultz24 · January 26, 2015 8:43AM

Thanks for all the replys thus far, unfortunately, it is in an AU Details slab called improperly cleaned. I just thought with the rarity it might be worth it at that price. After all of the comments I'm starting to wonder if I'll keep it very long.....

Schultz24 · January 26, 2015 8:46AM

Thanks for all the replys thus far, unfortunately, it is in an AU Details slab called improperly cleaned. I just thought with the rarity it might be worth it at that price. After all of the comments I'm starting to wonder if I'll keep it very long.....

Schultz24 · January 26, 2015 8:48AM

Thanks for all of the replies thus far, unfortunately, it is in an AU Details slab called improperly cleaned. I just thought with the rarity it might be worth it at that price. After all of the comments I'm starting to wonder if I'll keep it very long.......

darktone · January 26, 2015 8:56AM

I think you did just fine. Kind of cool to have a rare coin for its date and mint mark!!

hiijacker · January 26, 2015 9:07AM

Last AU Details coin sold for $1,762 in 2/2013 Link

hiijacker · January 26, 2015 9:09AM

Your exact coin sold for $977 on 10/2011 Link LINK

rhedden · January 26, 2015 10:34AM

<< AU50 details ... ugly obverse. I wouldn't have even paid spot for it. Sorry. >>

Sometimes I wonder if 291fifth has ever purchased a coin. If so, I wonder who sold it to him for less than melt?

That being said, this is a fairly obscure issue, and it lacks eye appeal due to the numerous marks. It could be a tough sell when the time comes because people who collect gold by date usually have enough money to buy PQ examples. A coin like this will usually sell to a bargain hunter, which means it won't generally bring a strong price. Any dealers disagree with this analysis?

Baley · January 26, 2015 11:02AM

Sometimes I wonder if 291fifth has ever purchased a coin. If so, I wonder who sold it to him for less than melt?

maybe he once had a decent collection of coins, but sold them all a long time ago and took a beating, only to see the same coins later go up and up in value but would never buy them at "these prices" so is bitterly "out" of coins except for some super secret collection of exumonia that practically no one else collects?

To the OP: you did fine at $710, that's a tough coin, appreciate it for what it is, if someone criticizes it, tell them to show you their better one, or else they should stfu

steveben · January 26, 2015 11:02AM

you knew it was cleaned when you bought it, so i don't think originality was your goal. i think you saw an opportunity to own a rare coin for a little over spot. in that case, you didn't do too bad, especially since you bought it for less than it sold at heritage in 2011. if gold climbs back up in value, you can expect a little profit. i say...enjoy it. if it were me, i would crack it out and enjoy it raw.

Outhaul · January 26, 2015 11:05AM

Definitely details, but if you like it, that's all that matters; enjoy it. I know a lot of people who did much worse.

Cheers,

Bob

crypto79 · January 26, 2015 11:07AM

<< Your exact coin sold for $977 on 10/2011 Link LINK[/q
Once again going to show that save for a couple of specialty dealers and markets HA is rapidly becoming THE retail coin market.

AMRC · January 26, 2015 12:34PM

<< AU details. Too bad about the scratches. >>

TopographicOceans · January 26, 2015 1:13PM

I'd say AU details and the market value is one bid increment over what you paid on that day.

Schultz24 · January 27, 2015 12:27AM

All great stuff, any other thoughts before this thread goes stale??

DaveWcoins · January 27, 2015 12:48AM

<< 

<< AU50 details ... ugly obverse. I wouldn't have even paid spot for it. Sorry. >>

Sometimes I wonder if 291fifth has ever purchased a coin. >>

+1

291fifth · January 27, 2015 4:33AM

<< 

<< 

<< AU50 details ... ugly obverse. I wouldn't have even paid spot for it. Sorry. >>

Sometimes I wonder if 291fifth has ever purchased a coin. >>

+1 >>

Why would you make a comment like that? Do you like that coin? Is it a coin you would recommend to your customers?

rhedden · January 27, 2015 4:55AM

Well, it just that you have a lot of bear-ish things to say about others' coins, but seldom post anything yourself. After years of reading your posts, I have you figured for a dealer who only wants to buy PQ material below sheet. We'd really like to see what coins you consider desirable purchases at some point. No offense intended.

FWIW, my other comment that you didn't quote summarized my feelings on the OP's coin. It will be a tough sell later on due to lack of eye appeal.

291fifth · January 27, 2015 6:16AM

<< Well, it just that you have a lot of bear-ish things to say about others' coins, but seldom post anything yourself. After years of reading your posts, I have you figured for a dealer who only wants to buy PQ material below sheet. We'd really like to see what coins you consider desirable purchases at some point. No offense intended.

FWIW, my other comment that you didn't quote summarized my feelings on the OP's coin. It will be a tough sell later on due to lack of eye appeal. >>

1. I don't post my own coins because I no longer own any of importance. I sold off virtually everything over a period of years because I have reached the age where I don't want to leave coins to heirs should anything happen to me. No one in the family has any interest in coins.

2. Your criticism of my posts is very selective. I do like some coins that are posted and say so. If I say I don't like a coin it is because I really don't like the coin. It is my feeling that the coin market (and most other collectible markets as well) are in a period of decline due to aging of the collector population and a negative economic future for what remains of the US middle class. (As an example, here in Michigan the unemployment rate has fallen sharply since 2009 but so has the average income.)

3. Given my view that the coin market is contracting I believe that collectors need to tighten their standards and become very, very selective about what they buy.

4. I am not a dealer!!!!!

Brol · January 27, 2015 6:46AM

I like that coin. You did ok. Personally I'm staying away from problem coins, because those scratches will be there even after a hundred years. And if/when it's time to sell , it's more easy to sell problem free coin.

VanHalen · January 27, 2015 7:16AM

At $710 you did fine if you like that date.

vplite99 · January 28, 2015 10:56AM

vplite99 · January 28, 2015 10:58AM

Damaged.

roadrunner · January 28, 2015 11:46AM

I really don't think the scratches or cuts are all that problematic on an XF/AU piece of gold. It's still worth $620 in net gold. It's a rarer date. I'm surprised it came up cleaned considering how crusty the photos looks. When/if the price of gold comes back the premium on that piece might grow considerably more than the price of gold. At 16% over melt it's hard to be too wrong. Heck, even an XF 1958 wheat cent goes for 2X melt. Can you buy an 1893-s Morgan or any other key date in AU (in any metal) for 16% over melt?

On the flip side is the fact that with 150+ of these in XF-AU that's more than enough for all date collectors to choose from in building a circ/low unc set. It's the dozen or so uncs that would generate the most demand.

DeepCoin · January 28, 2015 12:27PM

I would say my answer is that given the current price of gold and the rarity of the coin, you can get your money back anytime you want without much trouble. The question for me is, does this coin fit into your collection in some manner. If you bought it for gain, then nothing major going on, but if you bought it so you can have one of these specific coins at this price point, then you did the right thing. It is all perspective.

1882-O $10 Gold, GTG and did I do OK??

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