1897 $2.5 Gold Dollar Opinions cleaned/authenticity any other opinions 0

[NeverEnoughCoins09]

[NeverEnoughCoins09]

I was thinking authentic but cleaned possibly. The liberty and date is throwing me off compared to other photos I looked at though seems kind of cartoonish or am I wrong?

[Sandon]

    This denomination of U.S. gold coin is referred to as a "two and a half dollar gold piece" or as a "quarter eagle".  The term "gold dollar" is used for the one-dollar gold coins issued from 1849 to 1889 and the gold commemoratives of the same denomination, composition and weight issued sporadically between 1903 and 1922. 

   Your 1897 is considered a common date but a somewhat better one with a mintage of 29,768.  Based on the photos, it appears to be genuine. It has About Uncirculated details. Based on the unnatural appearing shine, it was likely polished, which would result in a grading service details grade and qualifier of "polished" or "cleaned". It also has several small "digs" (pits) on each side, which could also result in a "damaged" qualifier.

[GoldFinger1969]

Sandon, so worth just the value of the bullion ?

[NeverEnoughCoins09]

On 8/13/2023 at 11:08 AM, GoldFinger1969 said:

Sandon, so worth just the value of the bullion ?

I was hoping $300-$400.

[NeverEnoughCoins09]

On 8/13/2023 at 11:04 AM, Sandon said:

    This denomination of U.S. gold coin is referred to as a "two and a half dollar gold piece" or as a "quarter eagle".  The term "gold dollar" is used for the one-dollar gold coins issued from 1849 to 1889 and the gold commemoratives of the same denomination, composition and weight issued sporadically between 1903 and 1922. 

   Your 1897 is considered a common date but a somewhat better one with a mintage of 29,768.  Based on the photos, it appears to be genuine. It has About Uncirculated details. Based on the unnatural appearing shine, it was likely polished, which would result in a grading service details grade and qualifier of "polished" or "cleaned". It also has several small "digs" (pits) on each side, which could also result in a "damaged" qualifier.

Thank you Sandon and I don't know why I posted dollar this time. I did post it right on my last quarter eagle my apologies!

[NeverEnoughCoins09]

On 8/13/2023 at 11:04 AM, Sandon said:

 It also has several small "digs" (pits) on each side, which could also result in a "damaged" qualifier.

I was wondering about those "digs" and how much that lowers values on a gold coin..Like Goldfinger said, does that lower it all the way down to bullion value?

[Sandon]

   The combination of the coin being polished and lightly damaged may reduce its wholesale value to around bullion, but that would still be around $230 at the current gold price. A dealer would try to get a premium. This month's Coin World lists common date Liberty head quarter eagles at $450 in F 12, but that is unrealistic in my opinion. I bought a 1902 that PCGS graded MS 64 from a major auction house in April 2021 for $530, including shipping.

[NeverEnoughCoins09]

On 8/13/2023 at 11:52 AM, Sandon said:

 I bought a 1902 that PCGS graded MS 64 from a major auction house in April 2021 for $530, including shipping.

Oh wow nice! I need to do a better job looking around. I only shop from one major auction house at the moment. Browse ebay here and there but nothing ever seems realistic lol.

Sounds like I could still make a good chunk towards other coins from that quarter eagle thats good.

Your everywhere and very knowledgeable you must be a long time collector or dealer I appreciate your time and I'm sure everyone else does as well! Thanks again

[GoldFinger1969]

On 8/13/2023 at 12:52 PM, Sandon said:

   The combination of the coin being polished and lightly damaged may reduce its wholesale value to around bullion, but that would still be around $230 at the current gold price. A dealer would try to get a premium. This month's Coin World lists common date Liberty head quarter eagles at $450 in F 12, but that is unrealistic in my opinion. I bought a 1902 that PCGS graded MS 64 from a major auction house in April 2021 for $530, including shipping.

That's nuts -- how can CW be off that much ? 

I'm not as familiar with smaller pre-1933 gold coin pricing....but if a Double Eagle common and/or worn can go for about $2,100 or so.... I would think the Quarter Eagle should be $250-$300 since you pay up for smaller quantities of gold, right ?

[GoldFinger1969]

On 8/13/2023 at 1:24 PM, NeverEnoughCoins09 said:

Oh wow nice! I need to do a better job looking around. I only shop from one major auction house at the moment. Browse ebay here and there but nothing ever seems realistic lol.  Sounds like I could still make a good chunk towards other coins from that quarter eagle thats good.

As your probably know, Heritage Auctions (HA) and Great Collections (GC) have been the go-to sites for many of us here.

[NeverEnoughCoins09]

On 8/13/2023 at 3:13 PM, GoldFinger1969 said:

As your probably know, Heritage Auctions (HA) and Great Collections (GC) have been the go-to sites for many of us here.

GC but people over bid often it seems like. I'm guilty as well but man some people pay a premium for what they want. 😅

[Sandon]

On 8/13/2023 at 4:12 PM, GoldFinger1969 said:

if a Double Eagle common and/or worn can go for about $2,100 or so.... I would think the Quarter Eagle should be $250-$300 since you pay up for smaller quantities of gold, right ?

   Gold dollars and quarter eagles, including circulated common dates, have always gone for a significantly higher premium over their gold value than the higher denominations.  Both the NGC Price Guide and the current CPG Coin & Currency Market Review show higher prices for these quarter eagles in circulated grades than Coin World's.

On 8/13/2023 at 1:24 PM, NeverEnoughCoins09 said:

you must be a long time collector or dealer

   I've been a collector for over 52 years.  It's really important to learn about coins before you spend substantial amounts of money on them, especially on uncertified pieces. There is an expression from before my time, "buy the book before the coin". It's still true, except that today you can do at least some of your research online. You can also learn from experienced coin collectors and dealers at such venues as coin shows and coin club meetings. 

[powermad5000]

Being this coin's low mintage number of only 29,768, I tried to look at graded examples of one to check details. There wasn't much to look a due to its low mintage. While your coin appears to be genuine, if it were me, I would be submitting this coin to make sure it is authenticated as genuine. It definitely looks polished. I think regardless of other issues, it is going to get a details grade for that. I don't think the "pits" would get onto the label, but it might also get a Rim Damaged attached for the large ding on the rim on the obverse.

As for value, I don't think it is down to melt value. With it's issues, though, I would say it would go for around $450 as the current price guide is showing one in Poor or About Good at $425 and it takes a vast improvement in grade for the dollars to follow. It has to go from Poor 1 to AU 50 just to gain $100 more per the price guide.. There is not a large price spread in the AU range, but a collector of gold will not pay a premium for a polished coin. Just my humble opinion.

 

Edited August 15, 2023 by powermad5000