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Saga of my friends $20 Double Eagle: 99% sure its real!

Ronstar

Well-known member
My friend and I made the 90 mile trip up to Spokane , WA. Contacted the person I had been emailing, originally his father was not going to be in the shop today but his interest peaked due to the Roman vs Arabic numbers so he was waiting.
The coin was carefully examined for 20 plus minutes and after consulting several reference books and talking to his father (whom started the company), he determined the coin was real.
He explained he had seen several “Omega” coins and explained there had been a man so confident in his counterfeiting artistry that he stamped an “Omega” symbol on the coin. If was placed between the talons of the eagle and was so small it takes fairly high magnification to detect. There was a small dent in the coin at the talons but after using several optic devices it was determined to be just that, a dent. He believes the coin is real.
After further discussion between my friend and he it was decided the best option was to send it in to be professionally authenticated but not graded. There was enough minor wear and slight dings and dents that it would likely grade low. It is though thought to still be worth in the $8-10,000 area.
And I got to play with it…….
 

Blind Squirrel

Well-known member
My friend and I made the 90 mile trip up to Spokane , WA. Contacted the person I had been emailing, originally his father was not going to be in the shop today but his interest peaked due to the Roman vs Arabic numbers so he was waiting.
The coin was carefully examined for 20 plus minutes and after consulting several reference books and talking to his father (whom started the company), he determined the coin was real.
He explained he had seen several “Omega” coins and explained there had been a man so confident in his counterfeiting artistry that he stamped an “Omega” symbol on the coin. If was placed between the talons of the eagle and was so small it takes fairly high magnification to detect. There was a small dent in the coin at the talons but after using several optic devices it was determined to be just that, a dent. He believes the coin is real.
After further discussion between my friend and he it was decided the best option was to send it in to be professionally authenticated but not graded. There was enough minor wear and slight dings and dents that it would likely grade low. It is though thought to still be worth in the $8-10,000 area.
And I got to play with it…….
Howdy Ronstar--
It sounds like it was worth the trip to Spokane. Whenever I have researched a coin, one of my first steps was to go to the Heritage Auctions websight and search the coin on "Past Auction Results". There you can find professional photoes, hammer price, grade and date of sale. In the numismatic field, I would say that Heritage has the largest exposure for their offerings, which yields the highest return. If your friend decides to sell, Heritage should be considered. I think that I saw this on YouTube, a detectorist, in Idaho, dug a 1901-S Barber quarter -the KEY to the series. The detectorist was not a coin collector and didn't realize what he had dug until he got home and looked it up. He took it to a coin dealer for advice who had it slabbed and placed at auction. The coin was a solid VF-XF with VERY light corrossion as would be expected on a dug coin. I can't remember the name of the auction house that he used but he only netted less than $6,000 after fees. When I first saw the pictures of the coin, I thought - that's a $10,000 coin 7 days a week! I apologize, I can get off on a tangent. I just wanted to make the point that if your friend decides to sell, it's important to do her OWN investigation / research before pulling the trigger. Best of luck and...
Happy Hunting!
Blind Squirrel
 

Ronstar

Well-known member
Thanks Blind Squirrel. He has had this in his family for at least some 80 years. From his grandmother to his father to him and now to his daughter. There is no decision to sell, its been handed down “too” much if that makes sense. The coin guys opinion is it would probably be in the VF range but he would not get it graded. My thought was if graded at least there is a set point and very little room for argument IF ever sold.
I guess its the old “too-mate-o, ta-maut-o” conundrum. Meanwhile, if I ever find one of those bad boys I now know more about that coin than I know about myself!!!
 

Blind Squirrel

Well-known member
Thanks Blind Squirrel. He has had this in his family for at least some 80 years. From his grandmother to his father to him and now to his daughter. There is no decision to sell, its been handed down “too” much if that makes sense. The coin guys opinion is it would probably be in the VF range but he would not get it graded. My thought was if graded at least there is a set point and very little room for argument IF ever sold.
I guess its the old “too-mate-o, ta-maut-o” conundrum. Meanwhile, if I ever find one of those bad boys I now know more about that coin than I know about myself!!!
Ronstar, I agree with you. I'm curious, what did Spokane say was the downside in getting that coin graded? Yes, I know that it would probably get a "VF Details - Damaged" or "VF Details - Cleaned" grade. From my experience, rarities such as this have a strong market in ALL grades. Problem coins (cleaned , damaged etc), fall into a niche where a collector WANTS a coin but can not afford the high priced problem-free specimen. In such cases the bidding can be fierce. I know that this coin is in the "Family Heirloom" catagory but eventually the coin will probably be sold. It's good of you to help your friend resolve this matter. Best of luck and...
Happy Hunting!
Blind Squirrel
 
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