Should I buy...1899-S $5 gold...edited with pics..yes...I bought it!!

[lkenefic]

I was at my local B&M shop today and came across an 1899-S $5 gold piece in ICG plastic at MS62. This piece looks at least 63 judging by the other $5 golds in PCGS and NGC plastic. I was offerred this piece at $265...based on just this info...would you accept this? Sorry...no pics...Leo

[123cents]

Yes, I would buy it. That's a good price.

[MunkyMan95]

Yes. I've seen NGC and PCGS MS62's at $295 and up. If you could get it into a MS63 slab, it would sell for a very nice price.

[lkenefic]

Yes. I've seen NGC and PCGS MS62's at $295 and up. If you could get it into a MS63 slab, it would sell for a very nice price.

 

That was exactly my thought process. Would you crack it from the ICG slab or would you submit it in the plastic?

 

Thanks...Leo

[lkenefic]

BTM...what's greysheet bid/ask???

[123cents]

I don't know the greysheet but the numismedia wholesale is $285.00 and the retail is $356.00.

[MAULEMALL]

Is $265.00 a lot of money to you??

Why would a dealer let that much upgrade money walk out the door??

Where is Tom.

 

 

 

[MunkyMan95]

Yes. I've seen NGC and PCGS MS62's at $295 and up. If you could get it into a MS63 slab, it would sell for a very nice price.

 

That was exactly my thought process. Would you crack it from the ICG slab or would you submit it in the plastic?

 

Thanks...Leo

 

I have had good experiences on crossovers, so I submit in the plastic. Plus, it offers some protection both during the grading process, and during shipment to NGC.

[lkenefic]

Is $265.00 a lot of money to you??

Why would a dealer let that much upgrade money walk out the door??

Where is Tom.

 

 

 

Yes...$265 is alot of money for me to spend on a coin ...but I have it to spend without dipping into my 1877 IHC/1909-SVDB fund... why didn't the dealer crack it and resubmit it himself...really good question...

[zrlevin]

I have an idea:

 

Take that $265 that you would have spent on the gold. Put it in the 1877 fund.

 

From the information given, I think that this transaction will be a mistake. If you want to flip something, wait two weeks for the Jefferson spouses.

[MBA101]

Are you serious about that price? Greysheet for a '99-s $5 is $435 for a '62, and $840 for a 63. If I were using my dealer, he would charge probably $460 for that coin (in an NGC/PCGS holder) and buy for around $400-410.

 

Great price, and I would not hesitate.

[lkenefic]

wow...I was looking at the Heritage website and most '99-S $5 pieces go for around $250-$300 with juice in MS62. So I thought this was a decent deal but not a spectacular one. I was looking at this more for cross-over potential... I'm on it!!

 

L

[MBA101]

With Heritage, I see this discrepancy on many tougher date gold, where Numismedia lumps them in with common dates in MS 61 and 62 grades. The 1898 $20 is another example. I bought my '61 for about $970, when the sheet was around 940 or 950 (it is now up around $1050, yay me!). Meanwhile, Heritage coins are selling for less because the Numismedia values are more in the $750 range, just like common date '61's.

 

Keep in mind, an 1899 P has over 8000 certified, and a 1899 S has only 640 (by NGC that is)

[lkenefic]

Keep in mind, an 1899 P has over 8000 certified, and a 1899 S has only 640 (by NGC that is)

 

certified at MS62? I thought this piece might have upgrade potential for 63...L

[MarkFeld]

Keep in mind, an 1899 P has over 8000 certified, and a 1899 S has only 640 (by NGC that is)

 

certified at MS62? I thought this piece might have upgrade potential for 63...L

We can't possibly address the upgrade potential without images, and even with them it might very well be an exercise in futility.

 

It sounds as if you have little downside at the price which was quoted, but often, when people buy a coin because it seems cheap, they end up with something they don't really care about.

[MBA101]

Keep in mind, an 1899 P has over 8000 certified, and a 1899 S has only 640 (by NGC that is)

 

certified at MS62? I thought this piece might have upgrade potential for 63...L

 

Total #'s all grades. Meaning that an 1899-S is a very tough date.

[Houston Investor]

$265 is a good price on this. This is below CDN bid.

[rrantique]

Wondering if Leo made the plunge.

[lkenefic]

Wondering if Leo made the plunge.

 

...an emphatic ...YES!!! Please tell me what you all think...

 

 

 

 

 

 

 

 

I'm still playing with lighting and I can have more pics if needed. This is my first gold but please...be brutal if you need to...how did I do??

[MarkFeld]

Leo, please tell me about the last image of the reverse and the area under the eagle? It looks as if it might be a patch of mostly vertical hairlines, the type of which could indicate a wipe or light cleaning.

[MAULEMALL]

I was under the impression that it was an ICG holdered coin..

 

That is a PCI holder and in my opinion that generation holder is circumspect at best..

 

 

[bsshog40]

It would be nice to see if you can get some better pics. It is a nice gold piece, but I agree here, PCI is not a top Tpg.

[DirtyGoldMan]

It sounds as if you have little downside at the price which was quoted, but often, when people buy a coin because it seems cheap, they end up with something they don't really care about.

 

Guilty, as charged.

 

1899-S is not considered a better date, contrary to what may have been posted earlier.

 

IMO, you got a coin worth about $265.

 

 

[rrantique]

Leo the reverse looks like a light cleaning. Could be scratches on the holder. Regardless

I think the coin looks great with a nice stike. (thumbs u

[MunkyMan95]

You said ICG. That's PCI, and the reverse looks either a) lightly cleaned, or b) to have die polish under the eagle. $265 isn't bad, just not as good as one could have hoped.

[TomB]

It appears to have been wiped and this is most easily seen all around the eagle on the reverse, but especially below the eagle. The 1899-S is a generic coin in MS60 and below and is somewhat better in MS62. However, the coin you have would be bagged by PCGS, ICG and NGC virtually everytime it might be sent in for certification, if my interpretation of the images is correct.

 

Verdict: Bad buy.

[lkenefic]

Thanks for the input. There are some scratches on the holder in the area in question. They're vertical scratches in the same orientation as seen on the pictures... is my tungsten light casting shadows? I'll try to get better pics and maybe some closeups.

 

My mistake on the holder. I seriously looked at perhaps 50-60 slabbed pieces the other day. I thought PCI and ICG were in the same ballpark in terms of second tier slabs.

 

Anyway....knowing what you know now...what would you do with this piece? I could keep it (live and learn I suppose); I could try to sell it as is; ANACS plastic?; or go for broke at one of the big two; I could keep it and wait for the price of gold to go up...harhar.... any thoughts or comments welcome.

 

Best Regards,

 

Leo

[Revenant]

Thanks for the input. There are some scratches on the holder in the area in question. They're vertical scratches in the same orientation as seen on the pictures... is my tungsten light casting shadows? I'll try to get better pics and maybe some closeups.

 

My mistake on the holder. I seriously looked at perhaps 50-60 slabbed pieces the other day. I thought PCI and ICG were in the same ballpark in terms of second tier slabs.

 

Anyway....knowing what you know now...what would you do with this piece? I could keep it (live and learn I suppose); I could try to sell it as is; ANACS plastic?; or go for broke at one of the big two; I could keep it and wait for the price of gold to go up...harhar.... any thoughts or comments welcome.

 

Best Regards,

 

Leo

 

If it looks cleaned you'd do best to return it.

[MAULEMALL]

Thanks for the input. There are some scratches on the holder in the area in question. They're vertical scratches in the same orientation as seen on the pictures... is my tungsten light casting shadows? I'll try to get better pics and maybe some closeups.

 

My mistake on the holder. I seriously looked at perhaps 50-60 slabbed pieces the other day. I thought PCI and ICG were in the same ballpark in terms of second tier slabs.

 

Anyway....knowing what you know now...what would you do with this piece? I could keep it (live and learn I suppose); I could try to sell it as is; ANACS plastic?; or go for broke at one of the big two; I could keep it and wait for the price of gold to go up...harhar.... any thoughts or comments welcome.

 

Best Regards,

 

Leo

Get some larger and better pics up and let us see what you actually have...

[MBA101]

You are going to want to crack it anyway, so crack it and post some BIG pics...