50 Dollar Gold Coins
Myth – 1: By no means clean a coin!
Cleaning of coins isn’t encouraged until you already know what you might be dealing with. True collector (specimen) coins shouldn’t be cleaned. There are several courses of cash that proper cleansing strategies will improve and generally improve their markability. Ancients should not graded by the identical requirements as our cash in the present day and dug cash will typically revenue from correct cleaning. Many dug coins of recent time can stand some cleaning. I toss 1000’s of cash into my coin tumbler every year. Most are coins that are fairly rough looking and just to place them into circulation or to use them in trade, cleansing is a necessity. I additionally clean ninety% of my nickel finds as dug five cent pieces are virtually always darkened and can be enhanced by proper cleansing techniques. I’ve by no means or will ever clear tremendous and better copper, nickel, silver, or gold coins. Cleansing a uncommon or beneficial collector coin might cost you thousands of dollars in resale potential.
Myth – 2: By no means purchase a coin sight unseen.
Some years in the past this was probably one of the best practice. Times have modified in the coin market. With the arrival and development of several quality grading companies, slabbed cash are pretty secure purchases for collectors who aren’t all in favour of having simply premier cash in their collection. Pedigree cash needs to be examined to insure you’re getting the best coin for the large bucks. Ebay and different promoting sources now have such quality listings with details and quality footage, making your buy somewhat safe. I’ve had to return a number of cash for refunds from these sources. But the course of is much easier than the times of buying by mail from coin magazines and coin newspapers. I still like taking my coins to coin exhibits to sell in addition to with the ability to see up close, coins that I wish to purchase. The fourth of July weekend all the time means the Clearwater, FL Coin Club Show. I made a nice revenue on a 1908 $20. 00 Gold piece with a nice heavy bezel. I paid $500 and bought it for $930. However the fun of the show was shopping for the final coin I needed to complete my Indian Cent Collection. I discovered each the 1908 S and the 1877 cents with steel detectors. I requested every seller there if they had a 1909 S. Solely 5 dealers had one or more of this date. This is a coin that I would not buy sight unseen and, attributable to quite a few frauds for this date, I recommend only coins that have been slabbed by a major grading service. It is straightforward to be taken on this coin. I used my revenue (and a bit additional) from the gold coin to walk out with a VG 10 that appears like a Tremendous 12, graded by America’s oldest grading service ANACS.
Coin Fable – three: Coin sellers cannot be trusted.
I do not belief every dealer that I know, but the good outnumber the bad. I’ve favorites that belief has been established over a few years of shopping for and selling. A good way to verify them out is to take a coin that you have had appraised to several different dealers and test their provide on buying your coin. If the provide is at the very least 65% of the worth of the coin, that supplier is likely okay. One other approach I check them out is to take my scrap sterling or gold metal detector finds, and see what each offers. They need at the very least a five % margin over the buy value for that day. If 14K gold goes for $900 that day and the vendor says he offers you $840 or greater, she or he is probably going an honest dealer. A five p.c margin that day would make your ounce of 14K gold value about $855 max. Good, honest and trustworthy dealers will want to establish a relationship with you the buyer/seller. My favourite of all occasions is a seller named Dale. I made my first buy with him again within the early 70’s, and although he has gone into semi-retirement and moved greater than 50 miles north, I bought him my gold piece and bezel without comparing other presents on the Clearwater coin show. His spouse went all through the show floor to the other dealers to discover a special silver bezel I needed whereas I used to be promoting the coin and bezel to her husband. Great customer support from a fantastic seller!
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