Expert: Troy Thoreson - 6/9/2010

Question
Hi,

A long time ago, I inherited seven gold coins - including an 1863 $20 Double Eagle and an 1899 $10 Eagle (Liberty types).
Both are in a rather good condition. The $20 has a mall s above the left leg of the N in TWENTY.
I was looking to get some cash for a trip and visited a few dealers near Radio City Music Hall on 6th avenue in Manhattan.
The first place, I visited, offered me $1,500 for the Double Eagle and the next place $2,800 cash - no questions asked.
Not being a shrewd businessman, I promptly changed my mind about the trip to have time to study the situation.
Now, I searched the web for info and found this august site which will probably give me valuable advice on how to proceed without being duped.
On my way to you, I ran into that $20 piece on a coin collector's site and, if I am not mistaken, even the second offer was outrageously low.
I would very much appreciate your advice.
Respectfully,
Joseph

Answer
Hi Joseph.

We are authorized PCGS and NGC dealers.  I'd advise getting the seven gold coins certified by PCGS or NGC.  Once the coins are certified you will then have no doubt in their grade/condition, then you can bid them out with confidence.  We can charge you up front for the grading fees, send you a grading kit with everything needed to send the coins off, and the coins can be returned directly back to you from the grading company (Est $325 + plus your shipping out by Registered insured mail).  The coins must be mailed by Registered Insured mail.   See PCGS and NGCcoin.com for more information on these services.  Also, it is very important that you do not touch the surface of these coins with your fingers.  There are no guarantees of increased value, but the fact the business above gave strong bids is a good indication you may have something much better.    

Yes, the following is a canned response designed to help the novice collector with general information.  If you need more explanation or you feel my answer is to short, please call me or reply with a more specific question.  I own and operate two active coin shops and I apologize in advance if my answer is short, to the point, or lacking detail.  Again, please reply or if I missed something or if you need more information.

Information given about values is general and determined by current market conditions and/or the price of metals.  Prices and values are subject to change.

Please remember to never clean coins, this can damage and lessen their value.  Also, soft plastics can contain harmful chemicals that can react with coins over time.  Try using inert materials when storing coins.  Plus, it is always a good idea to store coins in a safe.  The safe should not be exposed to the elements and should not be up against a wall to the outside.  These are just a few tips I have learned over the years to help keep your collection in top shape.

If you found this information helpful please nominate me for category expert in coins.  If coming through Los Banos, CA please feel free to look us up at Thoreson Numismatics, 947 6th Street, Los Banos, CA  93635.  209-826-0777, email troy@aucpro.com or TNC Coins located at 118 West Main Street, in Turlock, CA  95380  209-668-3682.   Please remember that we are always in the market to buy and sell coins, currency, tokens, and medals both U.S. and World.  We are also licensed to buy scrap gold & platinum jewelry.  

Thanks for the question,


Troy Thoreson, President
Auc Pro, Inc.
Thoreson Numismatics
www.aucpro.com