Why not buy this coin?

[jesbroken]

Hey all.

I am afraid of a $2 1/2 indian gold coin even though it is going well below book. Please take a look and tell besides the obvious black mark on obverse. It looks like some out of the ordinary wear occurs under the black and I notice a small crimp on the obverse outer right edge. Would this make it $100 less than pcgs value guide?

Thanks

Jes

[BillJones]

My take on the coin is that was mounted for jewelry at one time and has residue of soldier on the obverse. That’s an unusual place for a mounting. Usually people prefer to display the obverse, but that’s my take on the piece.

 

For that reason the piece has very little numismatic value, and in the words of Brown and Dunn, who wrote the first book on grading coins circa 1960, “is collectable only as a charm.”

[DC Dawg]

Hey all.

I am afraid of a $2 1/2 indian gold coin even though it is going well below book. Please take a look and tell besides the obvious black mark on obverse. It looks like some out of the ordinary wear occurs under the black and I notice a small crimp on the obverse outer right edge. Would this make it $100 less than pcgs value guide?

Thanks

Jes

 

The wear, the way the dirt is embedded and the crimp suggests that this coin was part of jewelry. I am thinking that it was a ring since it is worn in a similar manner as a $5 Gold Eagle I wear as a ring--like it was inlaid into a ring with a high edge, the middle is only worn with a circular scratch around the edge of the stars and top of "LIBERTY." This would probably not grade too high (F-12 at best), so it may be just worth its gold value.

 

Here's the image:

 

Scott

[Connecticoin]

That coin is only worth bullion value, if that. It has scratches from a harsh cleaning in addition to the ex-jewelery evidence.

 

I would opt for a nice, problem free circulated example, which could probably be had for about $150 to $175 in VF/XF.

[hoard]

The coin definately has jewelery trademarks as many have noted. Looks like one I have in a locket type of piece. Do not pay over melt, is my opinion.

[michael]

has that jewelry mottled look where the coin was worn next to the skin for many years and with the oils and acidicitc skin salts give this coin its unmistakeable ex jewelry look

 

worth melt minus 3% in my book and i would not even want it