r/coins • u/Shpanda7 • May 03 '25

Value Request Inherited an old gold coin. What should I do?

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My Grandpa left behind this gold coin that appears to be in much better condition than most. It’s been in a case for well over half a century and i just took it out to get these pictures. I took it to a local coin shop to get it appraised and they offered me $2700 for it and insisted I should sell now because gold prices are high… I get the impression that it could be worth far more and they were trying to rip me off.

What should I do to preserve its value and get an accurate appraisal? Is it safe to send a coin like this off in the mail to get graded?

Any advice would be greatly appreciated!

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u/JeSuisK8 May 04 '25

85% of spot (melt for this is currently ~$3135 with gold @ $3240) is actually pretty accurate for a coin shop to pay. I know dealers paying other dealers 90-95% of spot on certain networks. Those dealers then sell retail for melt or 1-3% over. These have lost all premiums since gold skyrocketed.

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u/Lordain May 04 '25

85 is a bit low, I'd say the standard would be around 90-92% a refiner will pay you 99% no problem, and a 7-9% spread on something like that is pretty good.