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Need to submit coin from an auction.

Started by jaugv8-migration,

19 posts in this topic

jaugv8-migration

jaugv8-migration

Posted
Posted

I won a raw 1910 half eagle Indian gold in the Bowers and Merena auctions from the collections of Craig N. Smith and George William Youngman. They graded it as a MS63. How do I submit this coin so that the name of the collector(s) is on the slab? And will this also be grade as a MS63 if I send all the paper work to NGC? It is now in a sealed plastic flip. Do I send it like this? Or take it out and send it in as per the submission requirements of NGC? Please advise. Thank you very much.

 

James

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truthteller

truthteller

Posted
Posted

I don't believe that NGC will recognize the collection and, thus, will not place it on the label. The collection must be truly outstanding or highly recognized in the numismatic community to receive a label designation(such as Eliasberg, Bass,etc). As far as grade, the coin will not be handled unless you remove it from the sealed flip. Then, NGC will grade the coin according to its own standards, which may be lower than the assigned grade from the auction house.

 

TRUTH

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jaugv8-migration

jaugv8-migration

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Hello Mike,

 

I,m sorry I don't have a scanner. But if you go to the web site of Bowers and Merena you can look it up under the heading of realized prices of the auction Craig N. Smith and George William Youngman collection. Under Half eagles, 1910, lot #2454. Thank you for your help.

 

James

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darktone

darktone

Posted
Posted

James that looks like a very nice coin. I have recently shown interest in these coins and I have had NGC grade two in 63 so it's nice to run across someone else that is collecting these in the same condition as I am. Here's a picture of your coin for all to see. mike smile.gif2454.jpg

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Oldtrader3

Oldtrader3

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My experience with raw B&M gold coins from their Auctions is that often these coins are pretty conservatively graded. This coin (on the scan) looks like it could have a shot at MS64. I would go ahead and submit it in the sealed flip. Good luck and and tell us what happens with the grade..

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Wihlborg

Wihlborg

Posted
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Oldtrader3,

 

That has been my experience also. Although I have never bought any raw gold from B&M, I have bought a couple of raw silver coins from them that all upgraded 1-2 points when sent in to NGC. smile.gif

 

John

 

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jaugv8-migration

jaugv8-migration

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Mike, Thank you very much for your help. I'll be sending it out on Monday to NGC along with the information that B&M furnished when they sent the coin. I usually bid on the Indians that are already slabbed and graded. But I needed a realy nice 1910 high grade for my collection and I thought that this one would fit in just fine. I'll post the results when I receive it back from NGC. Thanks again for all the comments and help.

 

Best Regards,

 

James smile.gif

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BankNote1

BankNote1

Posted
Posted

Those things are hard for me to grade. But the one you have looks like it was graded correctly, if not a little undergraded! I would just send it to NGC in the sealed flip from the auction. Nice Indian!!

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cointagious

cointagious

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the coin appears to have a lot of orange peel in the pix. i might be tempted, depending upon the amount of blast the coin currently exhibits, to give it nice MS70 cleaning prior to submission. the surfaces appear to be very smooth and with enuff luster the coin might be a '65.

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TomB

TomB

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Your coin looks beautiful! I love the Bela Lyon Pratt design and also find it extraordinarily difficult to grade, as others have mentioned. I'm not a big fan of gold but this is one coin that I think I wouldn't mind owning. Let us know how it grades.

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darktone

darktone

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cointagious- I would not reccomend cleaning gold or doing something that would change the original surface of a coin like this. In my opinion cleaned gold stands out as bad as cleaned copper and it just does not look natural even if it is market acceptable these days( I wonder how long it will be acceptable in the market place). Also if this coin was a 65 believe me B&M or the owner would have had it slabbed. As I have been buying these coins lately luster in the fields seem to be the key in grading these in mint state. mike smile.gif

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jtryka

jtryka

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I think this is a very nice coin, though I'm not a big fan of the design. The coin has a nice original look, probably a 63, and maybe a 64 on a good day. I agree with mike, and this looks like a nice original coin. Cleaning it at all would be a big mistake in my opinion. It is very easy to spot dipped gold, and it really does ruin it for collectors that focus mainly on gold. The only other thing I would add is that I notice a mark on the reverse on the edge of the eagles wing, roughly in the center of the coin. I cannot tell if this is in the photo or on the actual coin since it has an odd shape. If it's on the coin, it may have a slight impact on the grade, but it's been my experience that photos accentuate flaws on gold, and that one is probably hardly noticable in person. Otherwise a very nice coin, and I would send it in to NGC for grading (and I would expect a 63 on it). If you really want it cleaned, I'd send it to NCS and not try to dip it yourself.

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gmarguli

gmarguli

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The line between MS62 and MS63 can be small. If you think it is misgraded, then resubmit it. I don't know the price difference between the two grades, so it might not be worth it.

 

I've heard people say that NGC is tougher on gold than PCGS. Personally, I don't like the way either service grades gold (I think they are too loose).

 

Just remember, it's the same coin you purchased a few weeks ago. If you liked it then, then there is no reason why you should not like it now just because it didn't grade the way you had hoped.

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darktone

darktone

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Greg I find the grade jump from 62 to 63 in gold to be a very noticable difference in the coin itself and the price. Most US gold series double or triple in price in this grade jump and I think the top grading services are pretty careful they get the grade right so they don't get stuck paying on the grading guarrentee. The 1910 half eagle goes from $475 in ms62 to $1,450 in MS63 according to the PCGS price guide( I just used this price guide because it is available for all to look at). mike smile.gif

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gmarguli

gmarguli

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darktone, I just looked up the prices in the Greysheet and Bluesheet. They do indeed triple in price between MS62 and MS63.

 

As you can tell, I don't buy much gold. I almost never grade gold the same as the grading services (I grade 1-2 point UNDER what they grade), so there isn't much out there to buy.

 

If B&M said MS63 (and they can be trusted - I've never purchased from them), then this is a coin that should be regraded.

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