Proof Purple Heart Gold Coin from mint - should I have it graded? 0

[Princess Jasmine]

Hi, I recently received 2 gold proof coins I ordered from the mint (West Point). They came nicely packaged - but I noticed NGC has a special grading label for the Purple Heart coins. Since I have 2, I am thinking of grading 1 for possible future sale. My thought is that although a proof coin, the grading would increase the sale value. Should I have 1 graded? Or keep in the original proof packaging. The coins are brilliant! I am super happy I ordered them. 

[Sandon]

   In my opinion it makes no sense to submit modern coins you purchased from the mint for grading!  You have no reason to question their authenticity.   The mint provided you with protective and attractive packaging and certificates. The coins should be of very high quality and grade either "69" or "70", and even "70s" have gotten extremely common.  (If you see obvious flaws, you should have returned them to the mint within the time allowed.)   You already paid the mint an inflated price for them, so why would you want to spend additional money for grading fees, processing fees, shipping, and insurance?  No dealer or collector, now or in the future, is likely to pay you extra for third party grading or a special label for these coins, which is just a gimmick by grading services to make more money.  

  Collect coins, not grading service labels!

[RWB]

On 8/17/2022 at 8:29 AM, Princess Jasmine said:

Hi, I recently received 2 gold proof coins I ordered from the mint (West Point). They came nicely packaged - but I noticed NGC has a special grading label for the Purple Heart coins. Since I have 2, I am thinking of grading 1 for possible future sale. My thought is that although a proof coin, the grading would increase the sale value. Should I have 1 graded? Or keep in the original proof packaging. The coins are brilliant! I am super happy I ordered them. 

...and where did you get this idea that "grading" would increase the sale value? Are you going to flip them?

Each time a coin like this is exposed to the atmosphere it increases the chance of contamination and later development of spots.

[Mr.Bill347]

Would sure like to see them. Photos?

I have just read the following:

(Picture)

I for one am discontinuing purchasing Eagles, Morgan’s,and Peace dollars and have unchecked my enrollments for same 

[The Neophyte Numismatist]

I agree that having your modern gold commemoratives graded will likely not help you sell the coins faster, or for more money.  If it grades MS69, it may actually hurt your sale.  I would sell them as-is (if that's the plan), and let the next collector take the risk.

I do want to say that I am very happy that you are happy with the coins.  While we never know what will happen to the financials of the future, if you love the coin - you will always be happy.

[Princess Jasmine]

On 8/17/2022 at 11:43 AM, The Neophyte Numismatist said:

I agree that having your modern gold commemoratives graded will likely not help you sell the coins faster, or for more money.  If it grades MS69, it may actually hurt your sale.  I would sell them as-is (if that's the plan), and let the next collector take the risk.

I do want to say that I am very happy that you are happy with the coins.  While we never know what will happen to the financials of the future, if you love the coin - you will always be hap

Thank you everyone for the responses, I plan to definitely keep one and eventually sell one. My dad collected coins - more valuable than mine, and he always had them graded (they were older coins) either NGC or PCGS. I sold them while he was still alive as he wanted me to do so (at auction online) and the money was put to good use. I started my own smaller scale collection but this is the first time I’ve purchased a proof coin. Thus far this is my most expensive coin. I will post some pics. I love the packaging (I actually work at The National Purple Heart Hall of Honor) - and no discounts for us, lol. 

[Princess Jasmine]

[Princess Jasmine]

Here is the front of the coin (my camera could be cleaner) 

[The Neophyte Numismatist]

It is a beautiful proof that will certainly have special meaning.  Congratulations and enjoy! 

[VKurtB]

People WILL have these coins graded by the thousands. Most will be submitted by major wholesale dealers to con their customers. Don’t fall for it. It helps the markup of the dealers, who pay a MUCH LOWER price than you do for the grading. Each coin will spend less than 10 seconds being examined by a grader. Does this sound right to you?

Edited August 18, 2022 by VKurtB

[Princess Jasmine]

Thank you everyone! Yes, I am totally delighted with my coins. 🙂

[GoldFinger1969]

On 8/17/2022 at 8:29 AM, Princess Jasmine said:

Hi, I recently received 2 gold proof coins I ordered from the mint (West Point). They came nicely packaged - but I noticed NGC has a special grading label for the Purple Heart coins. Since I have 2, I am thinking of grading 1 for possible future sale. My thought is that although a proof coin, the grading would increase the sale value. Should I have 1 graded? Or keep in the original proof packaging. The coins are brilliant! I am super happy I ordered them. 

You should do what YOU want after rearching and doing your own DD -- like reading posts here.

Me personally ?  I would probably have 1 graded and keep the other one in the OGP.

 

[GoldFinger1969]

How big is the coin, how much gold ?

Another plus to having one in a holder is it will be easier to view it and hold it.

 

[The Neophyte Numismatist]

So happy to hear it... that's really the most important part.  

One last point... when the forum says "it's not worth it to grade", we are talking about the financial prospect of improving return at sale.  This does not mean that you should not get the coin graded if this is how YOU want it.  

I may have my Grandfathers peace dollar graded.  The condition of the coin is circulated, and it makes no financial sense to grade it.  However, I love this coin for the sentimental value and I want to preserve it in the same condition it was given to me.  I want it to be a "time capsule" from him to me.  I will never sell it, so I don't care about profit.  Just the counter argument, because whatever you want to do is fine.

[The Neophyte Numismatist]

@GoldFinger1969 funny - I think we were going to a similar place.

[Princess Jasmine]

Thanks for the additional responses. It is not a large coin, and planning on selling one in the far future. Here is the coin content: 90% gold, 6% silver, balanced copper.  Diameter: 0.850 inch, 21.60 mm. Mintage  is from West Point limited to 50,000.  I have also ordered the Purple Heart colorized coin (a silver coin with of course purple color) from the West Point Mint. Super excited about that as it sold out very quickly and has a lower mintage! 

[EagleRJO]

On 8/18/2022 at 9:49 AM, GoldFinger1969 said:

Another plus to having one in a holder is it will be easier to view it and hold it.

You can always put it in a holder yourself. 

[GoldFinger1969]

Is this a 1/4 or 1/2 ounce coin ?

[Princess Jasmine]

It is in a holder from the mint - assuming that will suffice . Here is the coin info

[GoldFinger1969]

1/5th ounce of gold, got it. 

[J P M]

I really like your coin. It reminds me of a time in the 60s and 70s when so many Americans gave so much. This song from that time comes to mind whenever I see that coin.