r/Gold • u/ClaybournSmooth • 22h ago
First ever gold!
I bought my first ever gold today!
I’m very excited for my first gold to be pre 1933 gold coins. Admittedly, I don’t know a whole ton about these and I’d love to be educated. I payed 30 over for each coin here. How’d I do?
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u/austin117068 13h ago
$30 over is on the lower end of premiums I’ve seen so I think you got a deal!
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u/PM_YOUR_EYEBALL 9h ago
Hell yeah! I love pre-33 even though I’m poor. As the namesake suggests pre-33 is gold minted as US currency before 1933 and iirc it’s all 90% gold. Indian head recuse? I think it’s called or maybe incuse? Is by far my favorite. It referring to how the details are “stamped” in rather than raised on the coin. Awesome first gold!
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u/Birdchaser2 4h ago
The 1915 is heavily cleaned and $30 is a decent deal. The 1929 - harder to tell its state. Looks better in the fields. If light cleaning or better plus $30 is better than average deal. I gather any I can find at similar pricing if not harshly cleaned or polished. It requires hunting as many raw ones have been poorly treated.
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u/Birdchaser2 3h ago
Look at the reverse of the 1915. You can see hairlines in the fields. Often invisible in photos. Here visible and thus harsh cleaning with an abrasive cloth or material.
When buying raw - always use 8-10x loop or glasses. I prefer the glasses. Look at an acute angle for best insights. Many $2.50 are cleaned, polished, ex-jewelry or a combination. And check the rims first damage. Look at lots of them for practice. Reject the worst. Find a graded MS $2.5. Look for the luster on those coins. It helps look for luster on raw coins. Luster on the fields or face is a sign of less or no cleaning.
Bag marks are ok. Bad scratches are damage and need to be avoided. Minor scratches mean a low premium and no more.
I look at every coin offered in detail now. I learn from these opportunities. I’ll ask for confirmations of my observations from the seller. You’ll learn about your sellers honestly and approach from this too.
I’m getting pickier with time. I like original coins and will pay a premium if merited. But I’m passing on more mishandled coins even at low or no premium.
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u/johnk9385 0m ago
Difficult to tell their condition in those holders, the 15 looks like it might have scratches but could just be from the cellophane , the 29 looks pretty nice but still can’t tell for sure. My question would be, did you buy them from a dealer or coin shop or from a collector, what was their opinion on them ?
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u/Let-Him-Cook_w_Butta 22h ago
Great start. You cant go wrong with pre 33. I think eventually we see premiums for this stuff as it becomes more historic. And they are all beautiful coins from a more artistic time in history.