What is the toughest coin to grade in your opinion and where are all the common $ 20 DEs from?
oldgoldlover
Posts: 429 ✭✭✭
I have been out of the coin market taking care of an aging mom and getting settled as my wife and I just retired to the Texas hill country.
I have noticed on all the coin collecting tv outlets there are numerous common DEs being offered. I suspect the European banks are getting rid of those they had but am not sure.
I collect a few O mint DEs and find the grading of the type one DE to be very difficult to grade consistently by the TPG entities.
Happy 4th to all.
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Yes, on the DEs. After dealers picking over them for years in Europe, it seems metric tons are being shipped over.
@oldgoldlover
I suggest taking a look at the recent Doug Winter Blog on the Fairmont Collection
Indian quarter and half eagles are tough to grade in my opinion
A lot of them were made. Like Morgan's mintages are very high on the common ones. Higher gold prices bring them out and to market they go.
I don't have a bid sheet in front of me, but not looking good. Saints are mostly trading at melt up to around 63. $20 Libs have been hit hard too, I think raw BU still brings a premium, but barely. I posted am image of me melting a stack of Pre 33 US gold last week. Might have to figure out how to post a video.
If that is the case then why did the gold not show up in 2008/2009 when gold went in the $2,500 range?
BloodMan
Thank you very much for the link. It was very interesting and informative as i like the type one New Orleans DEs. I got rid of the following O mints because they were not moving up and they are readily available, especially in the 40 and below range.
1850 O 1851 O 1852 O 1853 O 1857 O and a nice 1858 O.
I am glad I did as they have moved very little in price even though the coins I had were AU. When a very nice 1855 O came up I moved the money into that coin and frankly i never though I would even get one in my collection.
If its for sale on tv or E bay I am not a buyer. If I were bullish on gold prices i would get some of the common Saints in the 64/65 range as you if gold moves up or the interest in building a set of these coins the price come edge up. I don't look for this to happen.
The coins now trading for a small premium over melt will pay off at some point but I am not a trader. I stick with the few I can afford that are scarce as measured by the pop reports, which for rare coins overstate the real population of the rare coins such as the 55,59,60 and 61 O due to re submission. my 55 O has gone trough PCGS 3 times I am aware of as it has been through heritage three times in different holders and in different grades twice.
I will say the coin I made the most money on from a percentage standpoint is a 63 1904 P. I traded $300 worth of worn silver I gathered over many years for the coin when gold was $280/ oz. I thought my wife would like it and our 20th anniversary was near. A week later I looked on the kitchen counter and saw the coin sitting out.
I went shopping again as my initial idea was a strike out. I later sold the coin when gold hit near $2,500/oz as I felt gold was over bought. I got lucky once and plan to stick with the coins that there are more buyers for than good examples to be had. Only problem is my wife nor I married into money so I will have a small collection going forward. Hopefully the 1855 O and a couple of others will put a grand child or two through college.
Thanks again for your help.
As far as grading gold coins (the OP topic), I think that the $5 and $2.50 incuse Indians are tough one's... mainly because people are not used to the design, incuse being uncommon. On these, it is mostly the raised field that gets appraisal, unless significant damage or wear in the image is visible. Cheers, RickO
Besides the incuse Indians:
3 cent silvers. They're so darn small. But does anyone collect them?
I have to say type one DEs are the hardest. PCGS and NGC miss the grade as i have seen the same coin in different grade via heritage many times.
The large old gold is beat up, poorly struck and almost always bag marked, some to the point they are just hard to look at.
Indian $2.5/$5
Interesting speculations and guesses. Anyone have facts?
Facts to back up a subjective opinion?
Smitten with DBLCs.
One fact is that gold was never in the $2500 range and the peak occurred in 2011 at just below $1900/oz. We're about $500 below the peak now, not $1100.
$2.50 Indian
Common DE origin as discussed in this forum - European banks, etc
Gold is soft so that is top on my list. Next would be the AU all bought thinking it might cross to MS.
Best place to buy !
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