$5 Gold Coin - 1913

[goadster]

Well, an interesting last 24 hours. First, last night, I'm checking out my fiance's backyard and got a rapid pulltab beep at about 6 inches down. After pulling the dirt plug out of the ground I noticed the coin at the bottom of the plug. First I thought it was a kid's token, but after wiping it off I saw the 13 stars around the Indian head and the date 1913 at the bottom. Man, talk about a rush!!

Well, I went to a local coin shop to get some information on it. The owner was busy so this young kid took it, went over to the owner for a minute, then came back and said that it was a reproduction made of gold, and that they would only give me current gold value. I stated first that I didn't want to sell it, but was curious as to how he came to a quick conclusion that it was a reproduction. He said he could tell by the weight in his hand (how it felt to him) and the color it was. He didn't explain if it was too heavy or too light to be a real coin and couldn't explain his color question. After I prodded him more for more explanations, he then said that you can always tell a reproduction by a line around the edge where the two sides were in the mold. I asked him to show me a line and he said that my coin didn't have a line but that didn't mean anything, but they would be happy to give me current value for only the gold content. I left with a real bad taste in my mouth about this store. My questions to one and all are the following.

1) Why, and did they make actual reproductions out of solid gold, and what would be the purpose?
2) If it was just like the original, wouldn't that be illegal?
3) Do you think he was trying to rip me off?
4) Since it was 6 inches deep, how could it be a repro? He said "Oh, they've made them for a long time.
Thanks to one and all for letting me ramble, but these last 24 hrs. have been a roller coaster ride......Attached are pics. of the coin. Sorry for the clarity. Seems like the scanner was having trouble with the glare of the coin.....
Thanks!!!!!!! And as always,,,,,,Keep digging!!!! Goadster

 

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[coinshtr]

I just read this whole thread Goadster. Quite a story here. Congrats on the coin. That is definitley one to save. I know I would.I also wanted to let you know that I live about 45 min south of you near Cincinnati. Perhaps we could hunt together somewhere at a midpoint. I've been told there are some good places to hunt in Middletown. Shoot me an email if this strikes your fancy

 

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[lonewolfe]

I saw that ad again on late night TV.? It is for a genuine 14K gold clad reproduction of a $20.00 gold coin dated 1929.? They say Roosevelt called in all the gold coins and this may be your last chance to own a "genuine fake" (my words) reproduction.? I think your coin is not a fake or reproduction and you should take that to the bank, literally!? Congratulations!? JIM

LOL!

That's Genuine 14kt gold plated "clad proof" JiM!! 1929, last yr of issue! What, you're not buyin!?

I've seen that commercial a few times too! It's a "joke" to say the least!

The coin looks like something I could make in my basement if I tried! lol

 

[allen]

beautiful coin and the owner was trying to take you as a fool. glad you didnt "give " it to him. keep on digging !!!

 

[MUD(S.W.A.T)]

OK first things first that gold coin you have looks real as real can get to me. Next my facts may be a little wrong but they are close. Coin dealers should pay you 35% less than Numismatic Value or (retail value). So they can make their so called profit they need. Next a real American coin will have all three sayings- In God We Trust, E Pluribus Enum, and United States of America. I think if my memory holds correct a fake will be missing one or more of these and replaced with something else. As Jeff said also most have to say copy or be smaller in size. But Keep in mind you can get Counterfeit coins that look real, weigh real, taste and smell real but are fake. They have less gold in them than real gold coins. Quality Counterfits are in numbers of the 10's of thousands so watch out. I think you can find this out by testing the Gold Content, that which I think you have to have graded to do.

Check this out:? http://www.gold-eagle.com/gold_digest_01/stott051101.html

Although, I think we are all reassuring you yours is real, great find!!

Keep @ it and HH!!






Disclaimer: I don't know how much of this is true if any!

 

[Ady]

I wonder - does it really matter if its fake or what the monetary value is?
Keep it because you obviously enjoy it and you will get great enjoyment out of it for many years to come. If you sell it for $100 - $500 the money will be spent quickly and long forgotten.

Look how much interest and joy it has given you already!
Ady

 

[goadster]

You're absolutely right, Ady
Every time a subject comes up on here, it always ends up so informative on history and factual info that can be used.....
When I mention my hobby to someone, they have a little chuckle until I show them my finds.......The laughter subsides very quickly.
I went to Walmart and found a neat locking box by BRINKS for under 10 bucks that I keep everything in. I've taken little sandwich bags and separated all of the clad coins into denomination, then documented each coin. Sounds like overkill, but when I open that box and they see all of those bags,,,,,then I pull out the good stuff I've found, they're believers......lt's all worth it just to see the faces......Thanks to all,,,,,,Goadster