Saw an atrocity this afternoon
 

While in the coin shop looking for nice half eagles at spot, he pulls out an 1834 $5 that he says I can have for spot. A quick glance puts it at VF-XF but something is wrong... there is a big X scratched across the obverse! Why would someone do that??? was it perhaps a civil war practice? Would you buy it for spot with that big scratch?

He also had a VF 1884-S priced at $180 I almost bought but figured for a few bucks more, to get a much better coin, so i picked up a 1904 AU that just might grade MS for $195 so I'm happy.
BTW he was completly out of silver bullion and half the gold bullion tray was empty! Is joe-6 starting to buy I wonder?

Re: Saw an atrocity this afternoon
 

It may have been a counterfeit. Years ago, I would buy them after checking them on a touch stone. I'd pay scrap value and then mutilate the coin. That way no one would be scammed with the coin.

Re: Saw an atrocity this afternoon
 

Interesting. Thanks for the tip ... I'll stay away from coins with an "X" on them...

I wish I had a consistent source to get old U.S. gold at spot. I find some every now and then, but not too often.

Re: Saw an atrocity this afternoon
 

It could be a very old mark, for magical purposes. I know that sounds dumb but it's true. Seems a handful of cultures in the early 1900's, presumably before and since, believe that by marking a silver or gold coin they will attract money to themselves. I've seen a bunch of 90% silver dimes like this, some were even bent back and forth in a zig-zag pattern. If you're in doubt, drop the coin on the surface of a table and listen to the ring, it'll tell you what you need to know.

RE: his absent silver, it's because it is in the back room. He moved it there when the prices fell, now he is lying to you. All dealers do this, they must think we're dumb and haven't caught on. Half the gold is there because gold hasn't fallen as far.

Re: Saw an atrocity this afternoon
 

I have seen old coins marked with Xs. They call it "graffitti." I got a seated half dime like that for ten bucks.