Opinions on this $3 piece
jdimmick
Posts: 9,829 ✭✭✭✭✭
tell me what you think about this $3 coin. be honest! any critisism is much appreciated. once I get some feedback, ill post some info and backstory . 
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First of all, most of you were fairly right on: And Keets "here's the backstory" This coin belongs to a customer of mine
Back in 2012, my customer was looking for this date for whatever reason, I was at the ana show and looked at this in auction for him, it resided in a ngc 58 , I actually liked the coin, and so did a friend of mine "who is a mid level national dealer who happen to be looking at lots that day" . So my customer ended up winning the coin for around 13K or so. He had me send it in to pcgs to get crossed but they would not do it at the time. So he was dissapointed, Couple years later, he had one of the big firms with which he does an ample amount of business with try to cross it for him as well. It still wouldnt cross, so they recommended he sell it, and use it against a trade for a coin they had he also wanted, which he did. Fast forward a month or so, the same firm, got the coin crossed over into PCGS 58 and then offered it back to him for 15,500, and he bought it back from them. However, the coin will not cac as it has been tried. He is now parting with all his non cac coins. I am in the process of selling some of my stuff, so he was going to have me send it in along with mine, but I also have something he wants of mine, and might could work a trade and then sell his coin with the rest of my stuff. But I dont think I can get the numbers to work with him wanting his full price paid back. I still like the coin even though not cac'able, and always have. It's a scarce date and desirable coin, and would be neat to own. Just wanted to get some opinions from the group as too what they thought about the coin.
Thanks for the input
J d
Comments
Nice AU?
bob
AU details cleaned. Still nice!
AU-55. Maybe even AU-58. Rare date (the last generally-available mint-marked $3) is a huge bonus.
Very Nice!
I see some whispy's and some apparent coloration in areas that would suggest to me a mild dip/bath of some type, but not sure ... and otherwise it appears to be a nice example. Nice remaining luster. Tough date. I would suspect it's in a straight grade holder.
I'm with @dcarr ... looks high AU
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I was thinking about AU50. NIce color. Would look great in my collection! I see some wispy hairlines but it doesn't look "cleaned" to me.
I don't see anything offhand to criticize.
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53, may be cleaned, but a nice looking coin.
AU with a long ago light cleaning. It is probably in a graded holder but somewhat net graded down because of the old. light cleaning.
That could go either way from the pictures. I'm not 50-50...but 40% it's a straight graded 45-50(net graded) and 60% it's AU details cleaned.
I don’t know about the grade or cleaning, but I really like $3 golds. I think this is a nice one.
It looks like an AU58 to me and anything below AU55 would be a big surprise.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Beautiful coin! I would guess AU-58.
The area below the bust looks a little funny, not sure if it is a photo thing or putty or alteration, it may cause a details grade.
I had a nice PCGS AU58 with a CAC sticker. I like the looks of this one a lot more.
I like the orange toning around the lettering. Cool coin.
Looks like quite a few hairlines.
In a 53 holder, or in a problem holder, which is essentially the same thing.
wow, $10K coin salvaged from benzel?
This is an interesting statement.
I had not heard of this before. AU53 is essentially a problem grade? For example, if an AU coin doesn't quite have enough of an issue to call is "genuine only" it'll get the 53 grade? I would love more information on this.
I was being somewhat facetious.
I'm sure there are some attractive 53s out there...just generally, it's the "kiss of death" straight grade.
The 53s I have examined/ handled run about 75-80% FONG.*
*Fairly Obviously Net Graded
High-AU details. Doesn't look original, but still very attractive and lustrous.
Okay, thanks for the update. I thought maybe is was like shorthand by PCGS to signify a 'liner' between problem grade and straight grade.
55 shot AU details cleaned/altered surfaces
Looks like an AU55 from those mediocre pics. Can't tell from those pics if it has been cleaned or not.
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58
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I agree with the possible cleaning, but still a nice coin with a lot of value.
AU55 imho
ill post some info and backstory.
I have always wondered why members use this term.
--- A backstory, background story, back-story, or background is a set of events invented for a plot, presented as preceding and leading up to that plot. It is a literary device of a narrative history all chronologically earlier than the narrative of primary interest.
@keets.... I agree with your comments... though I have been guilty of using the term myself.
As far as the lovely gold coin in the OP... I would say a 58....very nice. Cheers, RickO
wow, I forgot about the coin. yeah, AU something, maybe an AU55 or AU53 based on the pictures.
I really like the look of it, even if it got called cleaned not all cleaned coins are equal. If straight grade im at 58 as well.
Maybe the coin got submitted multiple times or got conserved or had an interesting recent provenance. Any or all of those things could legitimately constitute a backstory. As per secondary definitions of that word, it need not be used only in the context of fiction.
I like it.
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Some of the hazy white coloration could be putty or something similar, or it could be completely natural. Regardless, it doesn't seem like it should get in the way of a straight grade.
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My opinion: 1) you saw the coin first hand and you like it. 2) The $15,000 price point seems like a fair one based on older CoinFacts sales history (latest sales figures are 2017 for this date/grade.) 3) It's in a PCGS straight grade holder which is a plus. 4) it's a nice date and grade combo that likely will maintain demand. 5) Based on the above it seems like you could get the same or likely more out of it if you want to sell it in the future so I'd try to make a deal work for you.
Nice coin, but I'm not surprised it wouldn't CAC...55/58 liner for me.
$15.5k would be a tough price for a dealer at this point. I'd expect to net $13k-$14k to the seller if put in an auction right now.
I know nothing about gold coins, let alone those of that sort of value, but looking at PCGS coinfacts shows they have only graded 6 finer (all low MS), and the last time any 58 and up sold at auction was 3 years ago. So it sounds like if you want a top grade for that coin, now is your chance.
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looks nice to me id say au 55
With the price guide difference between 55 and 58 and no CAC, that coin would make me nervous. I would certainly leave it in the 58 holder.
Not sure what to say other than it needs to be seen in hand to at least to satisfy doubts or concerns.
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So what's the info and backstory?
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@ms70
Go back to the op and scroll down and the backstory begins below the image of the coin.
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Fast forward a month or so, same firm gets it crossed.......hmmmmm.
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It's not having what you want, it's wanting what you've got.
Let me see if I have this straight.
Eight years ago your customer buys a $3G as an NGC AU58 for $13k. It doesn't cross to PCGS.
A little later he has a chummy dealer try again for him. No go. They say trade it in and buy something else from us. He does.
Then, last month this same dealer gets the $3G crossed to PCGS AU58. "Want it for $15,500?" He says yes. Then it won't CAC sticker.
Now he wants to sell all his non-CAC coins, including this one.
Since you're submitting personal coins to CAC he's thinking of piggy-backing. Before you go there you have another coin he wants and might make a deal. But you don't think a $15.5k trade-in works. You still like his non-CAC coin.
My opinion? This collector is way too much trouble. He's made bad decisions after bad. No matter how you play it he will be unhappy with you.
Sometimes you have to fire a customer.
Lance.
lance,
Pretty much correct, except that the dealer who tried the coin for crossover could not get it to go, yet after they purchased it, it did a month later, and they offered it back to him. But that was a while back, not recently.
I dont think I can take it in on trade at his current price level.