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 Replies: 34 / Views: 4,417 |
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Pillar of the Community
 United States
1348 Posts |
you wouldn't take a chance? if everyone at the auction house thought this same thing you wouldn't bid $500?
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Bedrock of the Community
United States
36841 Posts |
Noop.
Let me add that I have made many bad buys over 50 years, I've learned the hard way. I have gotten to the point now where I don't like to throw money away on a gamble.
Edited by IndianGoldEagle
07/03/2012 4:05 pm
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Pillar of the Community
United States
3283 Posts |
I wouldn't be comfortable purchasing a coin I didn't have enough experience with to make a determination
myself regarding authenticity. Otherwise I would go with slabbed or something somehow guaranteed.
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Moderator
 United States
23522 Posts |
Aside my instant concern of *any* raw Dollar of this era, there isn't a lot of hints pointing directly at a counterfeit. The strike is proper, the denticles are proper, and I'm not even going to consider the surfaces since the coin was imaged through mylar. Except to mention that I'm not encouraged by the multicolor look of the reverse.
Variety is B-15, the centered version of the two obverses for the year. The rarer of the two, at retail. VF30-35. A PCGS VF35 of this variety went for $6900 at Heritage last January, if that's any indication of value.
It's like this, w1a9c8k5. No, I wouldn't risk $500 on it. I don't have that much to throw away. Maybe you do. Honest assessment? 80:20 against real. Had it been part of an estate containing multiple examples, I might consider reversing that percentage because even a decent coin estate containing a sole raw Early Dollar tends to argue against that coin's authenticity, but multiple examples indicate research and effort on the part of the original owner.
If real, 80:20 in favor of Details grade, making it a $3000-ish coin.
Overall? Walk away. You have a feel for the price range you're looking at now, and these aren't that hard to find.
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Bedrock of the Community
13014 Posts |
Just like others have said I'm always very skeptical of coins like this that arent slabbed.
I always ask myself why isn't it slabbed? It would be much much easier for them to sell it slabbed with usually leads me to a few conclusions. Its either fake, been cleaned, or they are trying to sell it for a higher grade than they know it would get. That said there are the rare occasions where it could be a problem free real coin at the right grade, just that the fast majority of these will fall into one of the first three categories.
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Pillar of the Community
United States
2703 Posts |
The pattern of wear looks unnatural and uneven, especially on the reverse. For example, there is significant wear on the left wing but virtually no wear on the wreath beside it.
The denticles look irregular in places, especially at 6h on the reverse.
The scattered marks appear concentrated into regions. On the reverse, the affected region forms an hourglass shape. On the obverse, there is a set of horizontal lines in the patch without the marks. Maybe the coin was held by a tool while it was being worked on. The coin appears to have been roughed up intentionally.
Looks like there is some extra metal between the eye and the nose.
Too many doubts for me. I would avoid it.
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Pillar of the Community
United States
1432 Posts |
Quote:
The fact that this coin has never been slabbed should be a concern. Not necessarily. I have had my 1795 for 50 years. Bought it raw (no such thing as TPGs then) and will sell it raw to a dealer or collector who can view it in hand and make his decision. |
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Moderator
United States
23522 Posts |
There is still plenty of market for raw coins, especially amongst those who trust their own judgment enough to make decisions regarding them rather than fall back into the safe(?) arms of slabbed coins. This particular circumstance sets off my alarms, though.
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Pillar of the Community
United States
1064 Posts |
w1ac8k5 Take a look at http://www.earlydollars.org/index.asp - has some info on those coin types that might be helpful; I also have a book, Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins, which has very detailed data on these dollars. I have a dollar dilemma, too - I bought a raw 1798 on ebay many years ago, and in recent years, with all the threads on fakes and counterfeits, I've become very anxious about my example. I mentioned this coin to a dealer in NH several years ago, and he told me he could send it in for grading, for maybe $50. I've been thinking about ever since, looking at CCF postings to see if there is any consensus on the best way to get coins graded. Bottom line, with the large number of fakes in these early dollars, I'd stay away unless YOU are convinced this is a genuine example. |
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Pillar of the Community
United States
1348 Posts |
I'm a gambler by nature. I will not bid on this coin unless I am very impressed with it in hand. I would assume though that this coin woud go outside my price range anyway. With an auction like this its hard to even get gold at around melt. Many older collectors with large pocket books who just want to win something. Nothing wrong with that though. I will be that guy in 50 years..... Laughing at the young folks giving me odd stares because I paid too much for a coin just because I can.
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Valued Member
United States
470 Posts |
I wouldn't go higher that $4500
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Pillar of the Community
United States
1348 Posts |
I wouldn't risk goign even that high. We'll see who is in the audience.
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Pillar of the Community
United States
1064 Posts |
can we go online and look at the auction?
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Pillar of the Community
United States
2703 Posts |
A friend offered a small eagle 1795 dollar to me at the Auburn show this morning. Asking price was $6000. I had to pass but I may eventually come back for it.
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Bedrock of the Community
United States
10982 Posts |
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Replies: 34 / Views: 4,417 |
First Page
Posted 07/03/2012 4:02 pm
