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"1874 $3 Gold - Looks horrible!" question



 
 
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  #11  
Old June 16th 04, 07:06 PM
Bruce Hickmott
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On 16 Jun 2004 17:02:33 GMT, (DONDI3) is alleged to have written:

In article , Bruce Hickmott
writes:


Well, even if you net grade that coin down to VG, it's still a $300-400 coin.
3$G's are rare.

Bruce


I'd have more problems with authenticity than grade. It does have couple of
gouges
in the reverse, but I'd want to know it was "real" first. The detail sure
looks mushy
to me--just like a jewelry piece.

Dondi3


Yeah, any raw 3$G needs to be treated as suspect. But there's nothing on that
coin that screams FAKE at me and I'm not a 3$G expert, I'd have to see it in
person.

The problems on the coin are consistent with jewelry use, though.

Bruce

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  #12  
Old June 16th 04, 08:18 PM
^
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That's the way it is with gold, tho' -- there's so many fakes out
there many (including myself) would never buy a raw piece. You'd
realize more money from it if you got ANACS to slab it first, damage
and all.


To tell you the truth, I didn't think I'd get any more than the price of
the gold, but put it on eBay in case anyone wanted a "placeholder" in
their collections.

ANACS sounds like a good idea for next time (if there is one - I'm not
sure I really want to get involved with gold coins after this discussion :-).

Thanks, all.
  #13  
Old June 17th 04, 06:04 AM
TomDeLorey
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The "ding" on the edge is solder where a loop was removed. The coin was
probably worn on a charm bracelet. If it was intended to be worn as a pendant,
the loop would have been above the head, not below it.
As to authenticity, I just can't tell.
Tom DeLorey
..
Subject: "1874 $3 Gold - Looks horrible!" question
From: ^
Date: 6/16/2004 9:33 AM Central Daylight Time
Message-id:

I listed this item and thought the heading described it perfectly - the
coin is beat up, gouged and worn so I was expecting to maybe get the
gold value for it. Instead, it got bid up to $150.

Why would that happen? I know some of these in perfect condition go for
thousands, but this coin really "looks horrible" to me.

You can see photos on eBay at
http://tinyurl.com/3xnq7








TomDeLorey
-
Ben Franklin: "A Penny saved.....
"...is a CENT!" snapped Thomas Jefferson, back in the debate over the proposed
U.S. monetary system.
  #14  
Old June 17th 04, 01:42 PM
Michael E. Marotta
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Bruce Hickmott wrote:
... it's still a $300-400 coin. 3$G's are rare.


It was said below that the price of a coin is what the market says it
is, not what a price guide says it is. That is generally true. It is
a basic assumption that the market is always right. That applies to
coin prices, coin grading, and the choices between nuclear energy
versus fossil fuel versus solar. The market is always right. Markets
do change, of course. Before World War II, when coin collecting was a
restricted hobby that B. Max Mehl was trying to popularize, Stacks was
selling $3 gold coins (along with all other high mintage U.S. gold)
according to the London fix for bullion.

What makes $3 gold "rare" today is that there are more than 1000
collectors of them wanting one. How "rare" would the Mona Lisa be if
there were 554 of them(Mintage of the 1881 $3)?

I don't dispute what you said, ultimately. I just look at it a bit
differently.

Michael
Several people are named "Michael Edward Marotta"
 




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