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mimiwells
Community Member
Posts: 1,201
Registered: ‎12-05-2003

1881 $5.00 gold coin, help please

I have an 1881 $5.00 gold coin as pictured.  She has a gouge on her nose but other than that she appears to be in pretty good condition.  I did note that on the outside round of the coin where all those hash marks are - there appears to be a smoothed out area less than 1/8th of an inch,,,on the outside round...how much can I expect to get for this coin.   I am coin value illiterate...

 

 

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ted_200
Community Member
Posts: 12,268
Registered: ‎07-16-2007

Re: 1881 $5.00 gold coin, help please

in reply to mimiwells

To answer this question with any degree of accuracy, we need to see the other side, in order to determine the mintmark and the grade of the coin.  However, this part...

 

 I did note that on the outside round of the coin where all those hash marks are - there appears to be a smoothed out area less than 1/8th of an inch,,,on the outside round...

 

... sounds as if the edge reeding has been filed smooth (or has a solder blob), indicating it is an ex-jewelry piece.  That means, unless it is an 1881-CC, it's value is likely 5% to 10% over scrap metal value (maybe $300 to $340) 

________________________________________________________
"Part Fort Knox. Part Ninja." - The Unicorn Of Propaganda
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toms-world
Community Member
Posts: 235
Registered: ‎07-20-2004

Re: 1881 $5.00 gold coin, help please

in reply to mimiwells

A picture of the other side and a picture of the edge might help but from what I see so far and what you've said I'd say it is probably worth what it would melt for or perhaps a little more. It contains 0.2418 ounces of gold so around $300 plus or minus at today's prices.

 

Those "hash marks" around the edge are called reeding, If some of it is smooth it may have been mounted as jewelry at one time and had the mount removed. A 1881 Philadelphia or San Francisco (S under the eagle tail on the reverse) is a common date and the removal of a mount would eliminate any numismatic premium in my opinion. If there is a "CC" on the reverse (Carson City) it would be worth a premium over melt to someone looking for that date or a inexpensive CC coin for a mint mark set.

 

Hope this helps a little. More pictures will help.

 

Tom

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toms-world
Community Member
Posts: 235
Registered: ‎07-20-2004

Re: 1881 $5.00 gold coin, help please

in reply to toms-world

Hey, Ted.

 

I need to learn how to type faster.

 

Tom

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mimiwells
Community Member
Posts: 1,201
Registered: ‎12-05-2003

Re: 1881 $5.00 gold coin, help please

in reply to toms-world

Thanks folks nice to know there are people out there in the "know"   For me like I said clueless...can't get apicture of the edge because it is so minute that it barely shows...here is a picture of the back.  No mint mark that I could see...

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toms-world
Community Member
Posts: 235
Registered: ‎07-20-2004

Re: 1881 $5.00 gold coin, help please

in reply to mimiwells

Is the flat spot on the edge above the "AT" in States on the reverse? If so it may not have been mounted, just bumped against something. Ted hit the nail on the head with his estimate of its value.

 

Tom

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Community Member
Posts: 3,371
Registered: ‎10-14-2008

Re: 1881 $5.00 gold coin, help please

in reply to toms-world

it's worth the spot price of one troy ounce of gold X .2418

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jesusrocks3339
Community Member
Posts: 5,771
Registered: ‎04-30-2012

Re: 1881 $5.00 gold coin, help please

in reply to toms-world

I would expect that you could net between 300 and 350, depending on how you sell it (to a dealer or on eBay).  The lowest sold comp on ebay is 299 and that comp was a little old.  Not too much on the market right now in the price range that I was comparing yours too.  I saw similar sold comps between 338.00 (plus shipping) and 399.99.  Some of the ones that I considered similar had altered surfaces and in my opinion even with the nose dings the detail and luster on yours seems nicer than some of the comps around 350-375.  Whatever you do, don't clean or polish it.  

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ted_200
Community Member
Posts: 12,268
Registered: ‎07-16-2007

Re: 1881 $5.00 gold coin, help please

in reply to jesusrocks3339

At current prices, I'd probably be sitting on it.  But assuming you could chase down $375 for it here, after the Bay and their Pal are done with it, you've got $325... I'm not much on wagering 3 C-notes on Buyer Protection roulette for a $25 payday...

________________________________________________________
"Part Fort Knox. Part Ninja." - The Unicorn Of Propaganda
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mimiwells
Community Member
Posts: 1,201
Registered: ‎12-05-2003

Re: 1881 $5.00 gold coin, help please

in reply to ted_200

Thank you all so much.  The small area I talked about is in fact above the AT.  I don't "need" to sell it now and could easily hold it, but it is not something I particularly want to keep. 

 

The above said, I can't thank you all enough for your input.  I do appreciate it. 

 

 

 

 

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davidgallston
Community Member
Posts: 3,088
Registered: ‎11-22-2011

Re: 1881 $5.00 gold coin, help please

in reply to mimiwells

"...there appears to be a smoothed out area less than 1/8th of an inch,,,on the outside round..."

 


With a coin of that age and a smoothed out spot on the rim, one of the first things I would ask him to look for was a plug at that area. My special interest in gold coins from that period would lead me to do so. Plugs in gold coins of that age do not always mean ex-jewelry, but I don't need to tell you guys this.  Back in the days that these coins were minted and continuing on throughout the years there were the folks who hollowed out gold coins for profit. Early on some of them did this in a crude and unthinking manner and would get caught when trying to pass a gold coin with a hole in it and which weighed much less than it should. I do not know their fate, but hanging would not have been out of the question. As time went on and the thief's got more experienced it was a smooth operation. a small hole will be drilled in the coin and they would pull out as much gold as they could. When they were done the would fill the empty cavity with lead, I believe, and weigh it off against an untouched coin to match the weight. They would finally add some lead into the opening hole and then work a small piece of gold around that area to hide their work. From what I understand the cover up would only last a certain amount of time as handling of the coin would cause the gold plug to fall out and banging and pressure on the coin, especially $20 pieces would cause them to sink at various points. I have never seen one of these coins in hand. I would expect that some were kept instead of all being melted. My happiest day will be finding an authentic hollowed out gold piece from the early 1800's. Probably not the case with your coin, but I can dream :smileyhappy:

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jesusrocks3339
Community Member
Posts: 5,771
Registered: ‎04-30-2012

Re: 1881 $5.00 gold coin, help please

in reply to davidgallston

"I'm dreaming of a hollowed out co-ooiiin, just like the ones they used to make"  :womantongue:

 

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jesusrocks3339
Community Member
Posts: 5,771
Registered: ‎04-30-2012

Re: 1881 $5.00 gold coin, help please

in reply to jesusrocks3339

oops, I posted the wrong vision

maybe more like this one for you David, but filled with lead.  I'll let ya know if I see one!  (I've only seen one of these before but ya never know)

hera.jpg

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davidgallston
Community Member
Posts: 3,088
Registered: ‎11-22-2011

Re: 1881 $5.00 gold coin, help please

in reply to jesusrocks3339

jesusrocks3339 wrote:

oops, I posted the wrong vision

maybe more like this one for you David, but filled with lead.  I'll let ya know if I see one!  (I've only seen one of these before but ya never know)

 


Cool. I have looked high and low but have only found ex-jewelry. I think the bulk of them got melted down, which is kind of sad as it is a part of the darker side of our history.

 

David

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Community Member
Posts: 3,371
Registered: ‎10-14-2008

Re: 1881 $5.00 gold coin, help please

in reply to davidgallston

check with exonumia dealers...

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davidgallston
Community Member
Posts: 3,088
Registered: ‎11-22-2011

Re: 1881 $5.00 gold coin, help please

in reply to *smedley*

*smedley* wrote:

check with exonumia dealers...


Thanks *smedley* I will. I just saw your post by the way.

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