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 Replies: 24 / Views: 4,891 |
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New Member
 United States
6 Posts |
Keep the input coming, I think it's great. Next question: I'm trying to educate myself on terms being used with this Shield nickel. I here people say "proof" & "business strike" Is the coin I have considered a business strike because it went into circulation? I guess what I really need to know is how to describe or label the coin, when I list it. I want a potential buyer to know exactly what they are bidding on. Thanks again! |
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Pillar of the Community
 United States
2843 Posts |
Quote:
Is the coin I have considered a business strike because it went into circulation? NO. Common misconception among beginners is that proof is a grade and business is a lower grade. The process for minting proof coins is different than the process for minting circulation coins. A proof can never become un-proof. I can become impaired or otherwise damaged. Your coin does not appear to be a circulated proof- at least not to me. There may be die markers that would help identify if it is or not. Somebody else here may know more about that. |
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Valued Member
United States
321 Posts |
A straight AG3 sold for $822 back in 2014.
PCGS estimates about 100 of these business strikes still exist out of an original mintage of 16000. Great find, and worth much more than $100, even in this condition. If you put it on Heritage you could probably get a few hundred out of it, but I wouldn't sell it if I were you because it has sentimental value.
Edited by Omegaraptor
12/08/2016 12:53 pm
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Bedrock of the Community
United States
17884 Posts |
Quote:Why on earth would a collector pay anywhere near that amount for a low grade specimen when certified Proof MS-66's can be purchased on ebay for $800-$850? Because proofs are easy to find and are not rare. Business strikes are rare and extremely difficult to find. Most people putting together sets of these can't get a business strike and have to settle for a proof. |
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Pillar of the Community
United States
4421 Posts |
My $100 valuation was the low end, and I noted that it could go higher at auction. Knock off 20% or so for auction commission.
Beyond the damage to our OP's coin, not unlike counterstamped coins in that regard, I would argue that there's also a fairly limited collector base who will pay anywhere near book value for an 1880 like this. Doing a cursory search for the 1880, I see that Larry Briggs has a pleasing looking VF with a rim ding for sale at $2250, looking for a buyer. Obviously, despite the low population for the business strike, I just don't see that much demand for the issue. Otherwise, why are the gem proof MS-66's not selling in the $800 range?
As an aside, a collector buddy of mine was able to purchase two counterstamped/damaged Chain cents from dealers for under $500, each. When it comes to the coin market in general, there are ideal transactions, and then there are real transactions.
Edited by ExoGuy
12/08/2016 2:56 pm
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Pillar of the Community
United States
4421 Posts |
@Conder101 ... I understand the demand factor, but we're talking about a low grade, severely damaged coin here. Let me ask you, a true and knowledgeable collector of of fine coins, a question. Would you sooner pay say $300 for the OP's coin or $800 for a certified MS-66 proof issue? Personally, I'd take the latter!
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Bedrock of the Community
United States
94367 Posts |
(Boy, I sure would.)  to the CCF! |
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Bedrock of the Community
United States
17884 Posts |
I would rather have the OP coin. My set is all business strikes, I'm not interested in proofs. If I was I would have finished my Three Cent Nickels long ago. And I may be a "true and knowledgeable collector" (thanks for the compliment) but I am also poor and my coins are not "fine" ones. The AVERAGE grade on my early large cent set is G-4. |
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Pillar of the Community
United States
1201 Posts |
Exoguy I think you're comparing apples to oranges. For someone collecting business strikes they would want the OPs business strike coin and not a proof. If they bought a proof instead they technically are not completing their collection. Now if someone was doing a type set and wanted a nice example of a Shield nickel them they may opt for the proof. Either way, welcome OP there are a ton of knowledgeable folks on this site. Keep up updated on what you decide to do. Take care! |
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Pillar of the Community
United States
4421 Posts |
When it comes to apples and oranges, business strikes and proofs, I like 'em all. My point was aimed at appearance and appreciation. While I love studying and looking at counterstamps, a.k.a. damaged coins, MS-66 proof coins are, IMHO, works of art; especially so, those early ones. With regard to the OP's coin, I do believe that the modest spread between the perceived value of the damaged 1880 nickel and a proof, MS-66 specimen would cause most collectors to opt for the proof version; this, given a choice. Beauty is one reason I'm more drawn to the proof, and marketability is the other. @Conder101 ... By "fine" I wasn't referring to the condition of coins. Like you, I've long been captivated by the well worn early coppers. I used the word "fine" in the generic sense, as regards desirability. I am surprised that you'd opt for the damaged business strike over an MS-66 proof Shield nickel though! I'm willing to bet that the great majority of collectors would opt for the proof. |
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New Member
United States
6 Posts |
Thanks everyone for your input, I am going to run a 7 day ebay auction starting tonight |
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New Member
United States
6 Posts |
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New Member
United States
6 Posts |
Auction ends tonight at 8pm CT. Thanks, Mike
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Pillar of the Community
United States
1119 Posts |
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Pillar of the Community
United States
4421 Posts |
Congrats .... good price!
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Replies: 24 / Views: 4,891 |
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First Page
Posted 12/08/2016 12:46 pm
